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THIS WEEK'S FEATURED SUCCESS STORIES:
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IN ESCROW OVER-ASKING PRICE:
LAUREL CANYON MID-CENTURY WITH UPSIDE @
$2,695,000.
- Location:
2715 Edwin Pl., Los Angeles CA 90046
- Wow factors:
This 4BR/3.5BA mid-century residence is sited on one of the most desirable locations and view lots in the city and offers a new resident the opportunity to restore, expand, or build. A sparkling pool overlooks 180-degrees of city lights. Ultimate privacy while looking at, well, everything.
Click below for all the details.
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IN ESCROW OVER-ASKING PRICE:
DESIGNER-DONE WEST L.A. CONDO WITH TERRACES @
$699,000.
- Location:
2491 Purdue Ave. #16, Los Angeles CA 90064
- Wow factors: Tech Types will love this 1,331 sq.ft. 2BD/2.5BA designer condo which offers all the modern conveniences of Westside living. A chic open floor plan allows for great flow among the living, dining, and kitchen spaces. Well-appointed rooms feature hardwood floors, fireplace, and glam lighting.
Click below for all the details.
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IN ESCROW OVER-ASKING PRICE:
WEHO/SUNSET CONDO IN BUILDING WITH RAT PACK ROOTS @
$649,000.
- Location:
1275 Havenhurst Dr. #13, West Hollywood CA 90046
- Wow factors:
This 2BR/2BA mid-century-vibe residence is sited in one of the most desirable locations in West Hollywood and offers a new resident the opportunity to walk to all of the area's offerings. Rarely are units available for purchase at "The Lawford." Actor Peter Lawford lived in the building and JFK visited.
Click below for all the details.
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SOLD $30,000 OVER-ASKING PRICE
:
RUNYON CANYON-ADJACENT CONDO @
$475,000
.
- Location:
7320 Hawthorn Ave. #325, Los Angeles CA 90046
- Wow factors:
Located in a quiet neighborhood just above all the hub-bub of Sunset and Hollywood Boulevards, this 1BR/1BA hide-away provides Solace in the City while being steps away from shopping, nightlife, and theaters. Bonus alert: Laundry inside and t
wo(!) off-street parking spaces.
Click below for all the details.
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SIGNIFICANT DIGITS IN L.A. REAL ESTATE:
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A Generation of Renters Become Buyers
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Rental prices are sky-high. Last week, I rented a SanMo beach-adjacent 1BR/1BA 849 sq.ft. condo for $6,300 mo.--paid a year in advance (see the hot-linked picture). Conventional wisdom is, "Why pay someone else's mortgage?" First-time buyers are heeding that advice and are rushing to buy homes after a decade on the sidelines. Tracking home sales to a particular age group is hard, but a series of data points form a mosaic of a generation of younger people ready to buy: The number of new-owner households was double the number of new-renter households in 2017’s first quarter, the share of first-time buyers is creeping back toward the historical average, and mortgages for first-timers are on the ascent.
Another indicator: In the 1st quarter of 2017, 31% of the speculative homes built by major CA builders were smaller than 2,250 sq.ft., indicating they were in the starter-home range. That is up from 27% a year ago and up 24% over 2015’s inventory.
The return of first-time buyers is a somewhat astonishing statistic: They have accounted for 42% of buyers this year, up from 38% in 2015 and 31% at the lowest point during the recent housing cycle in 2011, according to Fannie Mae, which defines first-time buyers as anyone who hasn't owned a home in the past three years.
Have a good, long weekend!
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Realtor and Principal, L.A. Luxe Group at Keller Williams Realty
Office: (310) 734-2100 Cell/text: (323) 854-4300
Web: www.JeffYarbrough.com
JY: CalBRE#01341959 | KWBH: CalBRE#00986753
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L.A. Luxe Group represents, markets, and develops some of the most dazzling properties in the Los Angeles area. As diverse as they are—in price, neighborhood, and style—they have one thing in common: L.A. Luxe Group SELLS (and often designs and stages) them all. You, too, can profit from L.A. Luxe Group’s collaborative dynamic by contacting one of the Partners or Realtors to assist you with your Greater L.A. real estate endeavors.
L.A. Luxe Group is affiliated with Keller Williams Realty, which is the largest real estate brokerage in the world.
A donation from every sale goes to an L.A.-based animal welfare organization.
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