1768 Rotary Dr - 1960's Post & Beam in Silver Lake

 

Perched in the treetops of Silver Lake, this 1960's post and beam looks out over the hills with views of downtown to one side and the reservoir to the other. Its walled & gated entrance bestows privacy on a house defined by windows. A rare garden and patio space in the front allow for alfresco dining right off the kitchen. Inside, an open layout flows through the public rooms. The house is 2 bedrooms and 2 baths, including an en-suite master that sits atop a canopy of foliage on a street-to-street lot. Beneath the house is a separate, detached space that makes for the perfect library, office, studio or bunk room. A stone's throw to Botanica, LA Mill, L & E, the reservoir, the dog park and the meadow, it grants access to the best that Silver Lake has to offer, but on one of it's quieter streets. How life in Silver Lake is meant to be.

 

[Listing] - 2 Closings, 1 day - Friday Easter Special

Happy Easter Weekend!!

What an awesome way to end the week! See below for videos and details. 


2231 Observatory Ave.  

$1,685,000 -  [New Neighborhood Precedent!]

SOLD FOR OVER $1,000 PER SQUARE FOOT

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Morgan Stanley - Bullish Housing Market Showing Signs of Weakness

According to analysts at Morgan Stanley, The commercial real estate market is showing signs of cracks and weakness that will peak this year.

As commercial real estate is leaning towards a bearish market, the bullish trend for residential housing continues. Many experts believe that the demand for housing will surge in the coming years, especially with commercial real estate on a downtrend.

"We expect 2017 to mark the end of the bull cycle for US CRE," they said in a note on Wednesday. 

The possibility for slow decay, in the growth of net operating income, could be a primary risk factor that would contribute to the decline in the commercial real estate market. 

 

 

What Are Experts Saying about Mortgage Rates?

Mortgage interest rates have risen over the last few months and projections are that they will continue their upswing throughout 2017. What impact will this have on the housing market? Here is what the experts are saying:

Laurie Goodman, Co-director of the Urban Institute’s Housing Finance Policy Center:

“In 1984, 1994, 2000, and 2013, every time we have rate increases, we have increases in nominal home prices. We expect this to be more pronounced, as there is a big demand-and-supply gap at the present time.”

Scott Anderson, Chief Economist for Bank of the West:

“The tightening labor market, rising wage growth, high levels of consumer confidence and a millennial generation with a pent-up demand for housing should allow the housing market to weather the storm of gradually rising interest rates.”

Ivy Zelman in her latest “Z” Report:

“Although we strongly believe that the housing supply-demand imbalance for single-family homes will continue to drive above-average home price appreciation, just as falling mortgage rates aided pricing power on the margin in recent months, we expect the opposite effect to become evident in the coming months. As such, we project year-end home price inflation of 4.8% for 2017 and 4.1% for 2018.”

Bob Walters, President & COO of retail mortgage lender Quicken Loans:

“A modest increase in mortgage rates won’t have much of an effect on home purchases. A buyer may need to slightly re-evaluate which homes they can afford, but it’s not likely to make an impact on qualifying, in most cases.”

First American Chief Economist Mark Fleming:

"Our survey data shows that mortgage rates would have to be significantly higher to have any meaningful impact. The house buying power that borrowers have, even with rates below five percent, still remains historically strong."

The Housing Market - LA County Median Price On Homes Rising

As we kick off the New Years, Los Angeles County is seeing a median price jump of $525,000 in January, according to a new report from CoreLogic. This increase equates to a 7.1 percent increase over the last year of 2016, when prices in January 2015 were only $520,000. It seems that the rising sales numbers were due in part, as a result of consumers looking to purchase before the interest increase after the election, Andrew Le Page, (CoreLogic analyst), hypothesizes. Throughout the nearing counties of Los Angeles, a six percent increase has been seen since last year. With the increasing market prices, a high demand in properties, and not enough inventory to sustain it,  it is difficult to say whether this may or may not be a trend.

Read more about it here, on the Orange County Register.

Home Prices are still rising in parts of LA