Happy New Year to All!
Now that we are back to our normal schedules, I want to resurrect my blog. I know it has been a few weeks since the last entry, but I have been keeping busy previewing the market and finding just the right homes to throw your way. Today's pics are about as different as apples and pizza...yeah, you heard right, apples and pizza, BUT they are both awesome in different ways.
1) New Community in Woodland Hills. As per their strict rules, I cannot divulge the address or the name of the complex, but suffice it to say, it is awesome. I sold a unit there on Sunday and it could not have been better. If you want privacy, this is not the place for you. If you want a lively and trendy high end condo, its perfect! The units are all pretty great with wonderful floorplans that make sense . The finishes are top notch and the community is super clean and user friendly. Washer/dryer in the unit and gated parking--each unit gets TWO spots. Best of all, the developer is totally making deals. They are bending over backwards because this is the end of their business quarter. If all of that was not good enough, the complex is also FHA approved so you can buy with 3.5% down! If you use their lender, they will give you 2% back for closing costs and a HUGE allowance for upgrades. My client fell head over heals on Sunday and so did I. I highly recommend it as a first time "get in the market" home OR to investors for a long term hold. No rules against renting it out, so its perfect!!!
2) 20528 Hatteras, Woodland Hills, CA 91367. $479,000
This is granny's house head to toe. Shiny wallpaper, shag carpet, old marble counters, etc etc. Yes, it is totally a fixer...but also super clean with no major evidence of poor maintenance or disrepair. For my money, I would rather buy granny's house than jut about anything else. Granny may not upgrade the decor, but she usually takes care of the house pretty darn well. So why does this house make my list? 1) It has one of the best Carlton Terrace floorplans---the one with the extra 1/2 bath up front. 2) the yard, although small, has lovely tree top views and no neighbors directly behind, 3) the house has a good vibe and is a blank slate. Because the house was originally listed at $560,000, I totally ignored it. Now that the price is reduced to $479,000, it could be a smart deal for someone who likes a project. I'm all for it at this price!!
Feel free to post your opinions as freely as I post mine. Have a great day!
December is usually the time of year when real estate pundits and economists like to publish their predictions for the coming year. Since Iam neither a pundit nor an economist, I do things a bit differently. Unlike these folks, I deal with people on a daily basis. My phone rings when people want to "deal" and it is dead silent when they are not in the mood. So I wait until the first week of January to see what kind of year it is going to be. If things are crazy the first week then most likely it will be a good year. Today is January 5th and I already have 4 new clients--so Iam feeling pretty good about 2011.
If you need something more tangible, then I will give you a few highlight predictions presented by economist Leslie Appleton Young:
1) Modest gains in prices and volume in 2011. Why?
2) Interest rates holding steady. Unless the GDP grows at a steady pace for a while, there is little chance the Fed will increase rates
3) Low Invetory. It is crazy to think that with all of the distressed homes out there, that we are having an invetory problem. Surprisingly enough, that is the case. Why?
4) Expect Multiple Offers in 2011. YES---don't shoot the messenger. In 2010, 50% of all transactions had multiple offers. Iam totally NOT kidding about this. From my experience, this is mostly in the lower price ranges, but I was even in a multiple offer situation on a $730,000 tear down in Woodland Hills.
I hope you enjoyed this little taste about what I think is to come in 2011. Since market value is based on what a a buyer would do, I think the most important opinion is actually YOURS. So what do you think will happen in 2011? Feel free to comment.
Every year its the same thing. "December is a great time to buy". How many times have you heard this one? Do you know why you hear it so often? BECAUSE its true!! Yes I know you have gifts on the brain and everything is just so stressful that you cannot imagine adding one more thing to your already overloaded list.Frankly, I don't care how much you have to do. It istime to get over it and make a smart financial decision.By the time you get around to in 2011, interest rates will have gone up!
While I have your attention, here are a few that I highly recommend:
1) 6500 Hatillo, Woodland Hills. 4 bf, 3 bth, 1473 sq ft. $459,000
This one is a winner. Initially priced way to high at $499,000, this Mid Century remodeled home is totally move in ready. I like it because the floorplan is wide open and the vaulted ceilings make it feel bigger than the actual sq ft. I also love that 1 bd and 1 bth are on the opposite side from all the other bedrooms AND it has a private entrance . You could use this bedroom set up for a rental, personal office or play room for the kiddies. This is not a cheesy remodel --everything is tasteful and fits the house. The back yard is just OK--all grass and very private but nothing to write home about. Perfect for kids though. Also, the placement of the house is ideal--its in the middle of a small cul de sac . Very private. Seriously, at this price you are usually buying in Winnetka, so please get off your butt and see this one.
2) 20748 Burbank Blvd, Woodland Hills. 3bd, 2 bth, 1400 sq ft. $489,000. Pool.
I have included this one in previous posts, but I want to bring it to your attention again because they are still on the market. They did reduce to $489,000 but at this point they are "chasing the market". Why do I like this house? First of all, IT IS NOT LOCATED ON A BUSY STREET --BURBANK HERE IS SMALL. Now that we have that out of the way, this house has a great open floorplan with a living room and a small family room off the kitchen---typically not something you can get in this price range or sq ft. The house is updated ( although does not currently show well due to owners personal issues). This is the typical 1400 sq ft Carlton Terrace model with vaulted ceilings, fireplace and a master suite with big walk in closet and private bath. The back yard is all pool --but it is super private. The front yard is fenced, gated and has a flat grassy area . Perfect for a kid's play set etc. At this point, the seller is pretty anxious, so check it out before the new year.
Happy Holidays to all!
Dana
These are my opinions only, please keep that in mind.
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