About Los Angeles' Playa Vista

Playa Vista, CA Condominium Market Report for February 2012

Recent data suggest that the worst may be over and that the housing sector has begun to stabilize. This was on MSN.com a widely read portal on the internet.

"While we still have a long way to go back to normal, the latest numbers are one more indication that housing is slowly turning the corner," Bob Nielsen, chairman of the National Association of Home Builders, said recently. David Crowe, the association's chief economist, added, "We anticipate continued, slow improvement in housing starts and sales through 2012."

Comments like this are being mentioned more often than what we have been used to seeing in the past two years. Now with that said I am still a firm believer that Real Estate is Local and in the Local statistics there are even Micro Markets.

One of the main reasons I love Playa Vista, CA since it is one of the latest Planned Communities that were built in Los Angeles in the past 50 years. Hence everything is new, well planned and pleasant to walk thru or drive thru. There are sidewalks, green parks for children and pets to enjoy, their own community library, community center with a state of the art Gym, and Olympic Size swimming pool. And if you want to go to the ocean it is only 1.5 miles to it.

So let us look how the Real Estate Activity fared in Playa Vista, CA

February: There were 25 Active Listings, Accepting Backup Offers were 5, Pending 6 and Sold 5.

I have noticed an increase of inventory from the previous month and an increase of Sold properties as well as Pending. This is a good sign well see it for yourself:

January: there were 17 Active Listings and only 2 Pending and 6 Sold

If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Culver City, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002or emails me at homes@endrebarath.com or visit one of my websites at http://www.endrebarath.comYour Pet Friendly Realtor. I contribute a portion of my commission to Local Animal Rescue Organizations.

The Playa Vista Condominium Market Report for the month of September 2011

Every month as I am about to write my Condominium Market Reports, I am a bit nervous and wondering how the particular pocket of the area fared, since I am unable to gage the activity based on the news media’ s observations. I am confident based on the activities of the past couple of months that we are heading in the right direction.

Interest rates are at an all time low and the Stock Market has been a Roller Coaster Ride, hence a perfect recipe to go to the safer area i.e.: Real Estate Investing. From my personal observations I am still getting a lot of inquiries from foreign buyers, hence to me this is an indication that the devalued Dollar and the low Prices is still a fantastic opportunity to buy investment properties in Los Angeles and vicinity.

Now with that said let’s look at the actual activity for Playa Vista for the month of September 30 Active Condominiums on the Market available for purchase. The least expensive one is a One Bedroom One Bath of approximately 642 square feet of living space for the asking price of $319,000. At the other extreme, the most expensive Luxury Condominium is a two bedroom and three and bath with 2,845 square feet of living space for $1,100,000.00. This was interestingly an increase in price on the high as well as the low end. Also it was an increase as well in the number of properties on the market compared to the previous month

There were 12 Properties in Backup-Status, where the buyers still have not removed their contingencies. There were 3 Condominiums in Hold Status; this is an indication of Short Sales, where buyers and sellers are waiting for Lender Approval. Interestingly there are 9 Properties that are Pending- Status. This is where the buyers are just waiting for funding and Escrow to close. The Sold statistic consisted of 10 Condominium that closed during the month of September. This is a large increase of activity compared to the previous month.

If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Culver City, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 or email me at homes@endrebarath.com or visit one of my websites at http://www.endrebarath.com Your Pet Friendly Realtor. I contribute a portion of my commission to Local Animal Rescue Organizations.

The Playa Vista Condominium Market Report for the Month of August 2011

Now that the long weekend of Labor Day is behind me I am catching up with my Market Reports. So as you all know last month was very turbulent in the world as well as US Economic Markets. Hence it was refreshing for me to see that the Real Estate activity was not affected a lot and people were still listing and selling condominiums in Playa Vista as in the previous month. The numbers are very similar. There has been a drop in the Pending States month over month. The Active and Sold numbers are virtually identical

Currently there are 28Active Condominiums on the Market available for purchase. The least expensive one is a One Bedroom One Bath of approximately 685 square feet of living space for the asking price of $295,000. At the other extreme, the most expensive Luxury Condominium is a two bedroom and three and bath with 2,845 square feet of living space for $999,000.00.

There were 5 Properties in Backup-Status, where the buyers still have not removed their contingencies. There was 1 Condominium in Hold Status; this is an indication of Short Sales, where buyers and sellers are waiting for Lender Approval. Interestingly there are 3 Properties that are Pending- Status. This is where the buyers are just waiting for funding and Escrow to close. The Sold statistic consisted of 8 Condominium that closed during the month of July.

If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Culver City, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002or email me at homes@endrebarath.com or visit one of my websites at http://www.endrebarath.com Your Pet Friendly Realtor. I contribute a portion of my commission to Local Animal Rescue Organizations.

Playa Vista Condominium Market Report for May 2011

As most of my regular readers know I am a firm believer that you have to look at a Real Estate Market Report not just as a snap shot of the previous months activities, but rather as what the Trend is. If we observe and monitor the trend, than we can make educated predictions of activity for the near future of the Real Estate activity in a particular pocket.

Unfortunately there are events that are beyond our control that will impact the local Real Estate activity. Last month there was a slowdown of the growth in the US Economy. A large part can be attributed to the earthquake in Japan, which created a shortage of parts and had a global as well as a local impact.

Then there was a huge rise in the oil prices, which caused consumers to cut back on spending. Even though the oil prices have dropped back to $100 per barrel the damage was done. The slowdown occurred.

Now with that said let's see how the Playa Vista Real Estate Activity fared for the month of May.

There were 28 Active Condominiums on the market for sale. This is a slight increase from the previous month.

There were 4 accepting Backup Offers; 1 was on Hold status and 3 were pending. This is a huge drop from the previous month; hence it confirms that the consumer spending took a pause.

The Sold numbers for the month of May were 7 a drop from the previous month's 13. So it should be interesting to see if we have a rebound during the month of June.

So for your convenience I am going to include the previous five month's Condominium Market Reports for Playa Vista, CA. This way you can look at the Trends yourself conveniently. (See Below)

http://actvra.in/Jw (published January 2011)

http://actvra.in/4T5 (published February 2011)

http://actvra.in/6dx (published March 2011)

http://actvra.in/7Vj (published April 2011)

http://actvra.in/9mD (published May 2011)

If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Culver City, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 (USA) or email me at homes@endrebarath.com or visit one of my websites at http://www.endrebarath.com Your Pet Friendly Realtor. I contribute a portion of my commission to Local Animal Rescue Organizations.

Playa Vista Condominium Market Report for April 2011

Since some readers of my blog are not familiar with Playa Vista. Hence I decidedmention a few interesting tidbits about this great community here. Play Vista was the first New Community built on the Westside of Los Angeles in about 50 years. It consists of approximately 1087 Acres of land.

There are open space areas, dog parks, play grounds and natural habitat protection as well. This is a small town within the city limits of Los Angeles. There is a library, retail establishments, restaurants and coffee shops to mention a few.

There is the Center Point Club, which is approximately 26,000 square feet of multipurpose community center with a Frank Lloyd Wright inspired design.

The community is bordered by the Bellona Wetlands and Lincoln Boulevard on the West and the Bellona Creek on the North and the Del Rey Hills bluffs on the south. This community is approximately 3.5 miles north from LAX (Los Angeles International Airport)

Now with that said let's look at how the Real Estate Market fared compared to the previous month.

Currently there are 26 Active Listings compared to the 28 for the previous month.

There are 15 Condominiums accepting Backup Offers vs. the previous month's 17.

There are 0 properties on Hold just as there were 0 the month before, an Indication of Short sales waiting for approval.

There were 13 Condominiums that were Sold last month over the 10 Sold the previous month.

As you can see there is an increase in the Sold numbers, which has been the trend for the past few months. I am a firm believer that Trends are important for Real Estate and we need to pay particular attention to the Local Trends in the various micro pockets as the Playa Vista community.

If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Culver City, Marina Del Rey, Venice or Malibu. Feel Free to give me a call 310.486.1002 (USA) or email me at homes@endrebarath.com or visit one of my websites at http://www.endrebarath.com Your Pet Friendly Realtor. I contribute a portion of my commission to Local Animal Rescue Organizations.