New Listing – 9706 Kirkside Road, Beverlywood

Unmatched value in prime Beverlywood. Short sale. Warm and inviting 5 bedroom with Den, 2.75 bath traditional. Property features 2 fireplaces, eat-in kitchen, private backyard, brick patio, 2-car garage on a lovely Cul-de-sac street. Lots of storage space in large attic. Room for growing or large family. Fantastic opportunity in a terrific location. Short sale negotiator in place.
Visit http://9706kirksideroad.com to see more photos and download a flyer
Listed for $1,150,000

January Market Report From C.A.R

LOS ANGELES (Feb. 15) – California home sales rose in January, marking three consecutive monthly increases and posting their highest level since May 2010, while the statewide median price declined to its lowest level since June 2009, according to data from the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.). 
“With lower home prices and rates edging up from their historic lows of late last year, prospective home buyers should consider the opportunities in today’s market,” said C.A.R. President Beth L. Peerce.

Click here to check out this market report video from C.A.R.

Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 546,420 in January, according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide, representing 90 percent of the market.  January’s sales were up 5.1 percent from December’s revised pace of 520,080 and up 2.5 percent from the 532,870 sales pace recorded in January 2010.  It was the first year-over-year sales increase since May 2010.  The statewide sales figure represents what would be the total number of homes sold during 2011 if sales maintained the January pace throughout the year.  It is adjusted to account for seasonal factors that typically influence home sales.
The statewide median price of an existing, single-family detached home sold in California was $278,900, down 8.6 percent from a revised $305,020 in December and was down 2.0 percent from the $284,600 median price recorded for January 2010.  The January 2011 median price was the lowest since June 2009, when it was $274,640.
“Although prices typically fall seasonally in January and February of each year, the decline in the median price can primarily be attributed to the aftereffects of last fall’s foreclosure moratoria,” said C.A.R. Vice President and Chief Economist Leslie Appleton-Young.  “More distressed properties are coming on to the market, which led to an uptick in sales of distressed properties during January.  We expect this trend to continue as lenders expedite the disposition of these properties,” she said.
Here are other highlights of C.A.R.’s resale housing report for January 2011:

• The Unsold Inventory Index for existing, single-family detached homes was 6.7 months in January, up from 5.0 months in December 2010.  The index was 5.7 months in January 2010.  The index indicates the number of months needed to deplete the supply of homes on the market at the current sales rate.
• Thirty-year fixed-mortgage interest rates averaged 4.76 percent during January 2011, compared with 5.03 percent in January 2010, according to Freddie Mac. Adjustable-mortgage interest rates averaged 3.25 percent in January 2011, compared with 4.33 percent in January 2010.
• The median number of days it took to sell a single-family home was 61.8 days in January 2011, compared with 32.9 days for the same period a year ago.
• View Unsold Inventory by price point.

Technorati Tags: Market report,California real estate,sales,real estate,Los Angeles real estate

A Midwesterner’s Reflections on Southern California in February

It’s funny how the brain collects its data by way of the nose. It was fourteen years ago almost to the day that I drove the long and sometimes treacherous 1,800 miles from my former Chicago home to Los Angeles. I escaped the Midwest during a snowstorm and then nearly drove off a mountain road in an Arizona blizzard. But I made it.

Over the years, February and the emergence of the flowering pink Jasmine and aromatic Victorian box trees would bring back the memories of my arrival in LA. Back then, I mistakenly attributed the gorgeous perfume in the air to the ubiquitous bougainvillea plants. It would be some time before I knew from where it came. My impressions of this city in my first months here were a world away from the smoggy LA that I had expected to find.

After last year, the aromas of February will forever be attached to a far greater arrival than my own. My daughter’s birth February 12^th coincides with the sweetness that welcomed me to this beautiful part of the country. And her sweetness has reassigned those smells in my brain’s hard drive. She will grow up a “California girl” and will probably take for granted what makes Southern California such a special place to live.

Now I hate to sound like the chamber of commerce, but why would you want to live anywhere else? While nearly half the country braces for another arctic blast after the latest pile up of snow, our preparations for bad weather consist mainly of remembering where that damn umbrella went, and will it still work after 10 months of hibernation; or is this a “sweater day?”

Yesterday as I went out for my run I was brought to a screeching halt by the breathtaking views of snowcapped San Gabriel Mountains. I paused, and after saying a few private words of gratitude, thought: “Where else in America can you see this and still be just a twenty minute drive to the ocean?”

I don’t know, but I’m glad that our home here in LA is one of those places.


Oh yeah and there’s this good news:
Luxury home sales jump 21% in California
Homefront Los Angeles Blog: Feb 10th
Homefront Los Angeles Blog: Jan. 19th

Cheaper to buy than to rent in 72% of largest U.S. cities

Trulia: Former homeowners flooding rental market

By Inman News, Monday, January 24, 2011.
Via Inman News™

Despite the rising number of renters across the country, it is cheaper to buy a home rather than rent one in 72 percent of the 50 largest cities in the U.S., according to an index released by real estate search and marketing site Trulia.

"Since the start of the 'Great Recession,' many former homeowners have flooded the rental market. Following the principles of supply and demand, renting has become relatively more expensive than buying in most markets," said Pete Flint, CEO and co-founder of Trulia, in a statement.

"Though necessary for achieving true economic recovery, stricter bank lending practices have also further aggravated the struggling housing market in the short term. Even highly qualified homebuyers face intense scrutiny on their income, savings, existing debt and credit history before they can get a mortgage loan."

Trulia's rent vs. buy index compares the median list price with the median rent on two-bedroom apartments, condominiums and townhomes listed on Trulia.com as of Jan. 10, 2011.

A price-to-rent ratio of 1 to 15 means that it's much cheaper to buy than to rent in a particular city. A ratio between 16 and 20 means that it's more expensive to rent than to buy, but, depending on the family's situation, buying could "make financial sense," the site said. Any ratio above 20 indicates that owning is much more costly than renting in a city.

In 36 out of 50 of the country's most populous cities, buying a two-bedroom home is less expensive than renting one. These cities include many areas that have been hit hard by foreclosures, such as Las Vegas, Phoenix and Fresno, Calif.

Read the full article Here:

Los Angeles, San Fran, San Diego and Washington D.C. region post gains as home prices still falling in most U.S. cities

While this article paints a dismal picture of the national real estate market, there is some good news for our region…See below and click the link to the article.

Of the 20 major metropolitan areas tracked by the Case-Shiller index, only three regions aside from Washington posted year-over-year gains: Los Angeles, San Diego and San Franciso.

Washington region posts gains as home prices still falling in most U.S. cities

        

NoHo Arts District Rentals – Available December 1st – 3 bedroom and 2 bedroom with bonus space

Gorgeous Newly restored 3 Bedroom 2 bath Craftsman with private yard, formal dining room, covered rear patio, lovely landscaping, Central heat and AC, alarm system. washer /dryer, Brand new everything. 1 car Garage, and additional off street parking. Pets will be considered. Offered at $2,500/month.

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Recently remodeled classic California cottage. Spacious 2 bedroom with a loft, and over 150 extra sq ft of bonus space. New kitchen, new bath, AC,  washer /dryer, private secure rear yard. 2 parking spaces. Pets will be considered. Offered at $1,800/month

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Easy to show. Email Anthony – anthony@anthonydp.com

www.anthonydp.com has launched!

Introducing the all new anthonydp.com! Your one-stop spot for Los Angeles, Beverly Hills and Westside real estate. Easy navigation, elegant, simple design, integrated MLS search tool. Click the link above and check it out.

Just Sold - 3253 Benda Street, Hollywood Knolls

1937 Hollywood Knolls traditional with modern appeal. 2 bedrooms, 1.5 baths plus wonderful gallery-like den/office with high ceilings. Stylish and tranquil house ffeaturing crown moldings, hardwood floors, newer double paned windows, copper plumbing, remote controlled lighting, and a cool vibe. Great outdoor spaces - front view deck off the living room, secluded brick courtyard, side patio and grass yard. Tuck under attached garage with storage/workshop area. Terrific house on a lovely leafy hillside street.

Friday Morning, Inglewood

Copyright Anthony Diaz-Perez

Shipping Container Dwellings Strike Again!

Via Curbed LA

I have already posted on modular shipping containers homes. It seems that even the Boy Scouts of America know sustainability. Curbed LA covers the architectural firm Gensler's replacing of the cabins that southern California scouts use on Catalina Island with sustainable shipping container structures. Check out the story here.

Massive Solar Power Project Proposed For Owens Valley

Many of you already know the rich and troubled history behind the city of LA and more specifically the Dept of Water and Power (LADWP) and the Owens Valley. For those of you who don't, the short version is: every drop of water that we get originated from the Owens river. The Los Angeles aqueduct, the brainchild of William Mulholland, delivers water from the the eastern Sierras into the DWP system. The growth and expansion of the San fernando Valley and the LA basin can be attributed to Mulholland's acheivement.

An impressive feat of engineering on the one hand, but a painful chapter in the lives of those Owens Valley residents who saw their environment completely change, and not for the better. The eco-system of Owens lake was obliterated and the valley now struggles with dust storms that result from the drying of the landscape.

There may be a happy ending to this sad tale with the recent news that the DWP has Proposed an enormous photovoltaic solar project at Owens lake. The proposed project, when completed, would span an area the size of Cleveland, Ohio. If approved, the resulting sustainable energy and green jobs that it would create, may be a gift that keeps on giving for the locals.

The DWP will need to enlist local support and repair the trust (if it ever existed)between the community and the Los Angeles municipal government. Given the history of the past 100 years that may be the biggest hurdle of all.

See the Los Angeles Time article here.

DataQuick Releases December Sales Figures - Market Has Improved Since December 2008

MDA Dataquick has just put out the December 2009 sales figures. Sales in the Southland rose 12.1% when compared with sales in December 2008. Their findings also indicate that the medain sales price has risen in each of the last eight months.

Trending upwards? Perhaps. Read the article HERE.