Will the Market Surge This Season?

Will the Market Surge This Season?

Mortgage applications to buy homes fell by 2% last week from the week prior, according to the Mortgage Bankers Association (MBA). The MBA metric, known as the purchase index, was still up year-over-year, making it the 21st week the index has posted annual growth. But...
Stand and be Counted, Counties

Stand and be Counted, Counties

Stand and be counted, Counties! As another pandemic-related milestone dominates the headlines, SoCal’s home prices are garnering attention, too. Our 6-county region’s median price reached $600,000 in August, up 12.1% from a year earlier, according to data released...
Where do I put my…?

Where do I put my…?

While California made huge strides in 2017 with favorable Accessory Dwelling Unit (ADU) legislation, a new series of state bills, signed into law by Gov. Newsom in early 2020 further lowered barriers to creating ADUs, a.k.a. Granny Flats or garage conversions. Here...

Flex Time

   Since this weekend is setting temperature records, you might want to increase the heat quotient by socially-distancing your way to Muscle Beach in Venice, which dates back to the 1930s when L.A.’s Works Progress Administration installed exercise equipment...
Aunt Becky Sells Out

Aunt Becky Sells Out

Many notable deals we handle (including a couple this week not mentioned in this newsletter) are with notable people. We sign non-disclosure agreements and try to keep their big-ticket purchases out of the papers. But over 25 people touch each escrow we close, and if...
Is the high-end overheated?

Is the high-end overheated?

In case you were worried about them, the ultra-rich are still buying homes. In March and April combined, L.A. County recorded 82 home sales of $5,000,000 or more, including 14 transactions north of $10M.  In the same period of 2019, 85 residential sales of $5M or...
Virtual Realty

Virtual Realty

I took time over the last couple of weeks to shoot and add virtual tours to my property listings that were without them; apparently, an effort not in vain. According to the National Association of Realtors, 25% of Realtors with buyers who wrote contracts on homes this...
Why get ready to jump now?

Why get ready to jump now?

Earlier this week, homebuyers found rates on 30-year fixed-rate mortgages more than an entire percentage point below where they saw them last year at this time. The difference between 2019′s 4.5% and today’s 3.25% can greatly reduce the monthly payment and total...
Into the Weeds

Into the Weeds

As more states relax marijuana laws, these legal changes are affecting the real estate industry on multiple levels, according to a new National Association of Realtors (NAR) survey released on Tuesday. The “2019 Marijuana and Real Estate: A Budding Issue” report says...
Is Luxury on the Rise?

Is Luxury on the Rise?

According to a report out this week, many rich home buyers laid low in 2019, as economic uncertainties turned purchasing in some cities into risky propositions. But don’t be surprised in 2020 to spot the world’s wealthiest people beginning to spend again as home...
Years of Pain in L.A.’s Rental Market

Years of Pain in L.A.’s Rental Market

If you’re a renter in 2020, you may be paying more per month than you would if you owned your own home or condo. According to a new study from listing service RentCafe, the average rent in Los Angeles has ballooned to $2,527, a whopping 65% increase since 2010. That’s...