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.
Carpinteria's Secluded Mountain Retreat - 8599 Ocean View Rd
Boasting over 20 acres, this hidden gem in Carpinteria is the ultimate retreat for those seeking solace. Only moments from downtown Carpinteria, and a stone's throw away Santa Barbara, this secluded getaway embodies all the characters to help one get in touch with nature. Enjoy amazing mountain views from the multiple decks and terraces, or get your hands dirty while working with 200 avocado trees and 100+ fruit bearing trees. Well developed into a completely self- functioning property, with multiple terraces, access roads, trails, and entertaining areas, as well as fully irrigated. Every inch of this property has something special to offer.
Iconic Post & Beam Estate in Palm Springs - 1275 S Calle De Maria
The Koerner House, E. Stewart Williams, FAIA, 1955. Private, sprawling, iconic, post & beam architectural estate. One of Palm Springs most significant. 4-parcels, almost-1 acre, street to street lot, walls of glass, unobstructed views. 4220 Sq Ft, abundant original architectural details include teak paneling, built-ins, wood ceilings, slumpstone walls & fireplace, clerestory windows, board-and-batten redwood siding, flagstone floors & decks, solar. 4-ensuite beds & baths, bonus room & bath, sunroom, open kitchen, interior pond & atrium. Landscaping by Office of Eckbo, Dean, Royston & Williams, large pool, expansive lawns, water features, tea house, botanical cactus gardens, citrus; shuffleboard; built-in outdoor seating, fireplace & bbq. Listed on National Register of Historic Places.
The Ferber House - 468 Old Toll Road
Leave the urban hustle-bustle behind and savor the pastoral beauty and serenity of lush, rolling vineyards in the enchanting European courtyard setting—all while sipping exquisite wines produced right from the vines surrounding you.
As we start the New Year, many are optimistic for what the future holds for LA's housing market. Looking back at 2017, the market reached an all time historical high, breaking records much like the previous increase seen in the 2007 mortgage crisis. For this reason, many speculate that we're in a bubble, however, a recent report from CoreLogic showed the prices of Southern California homes to be 13% below their pre-recession peak, after being adjusted for inflation. What does this mean for real estate in LA? For buyers looking to make their purchases, the 6.4 percent increase in the predicted prices in the county (by CoreLogic), isn't the most compelling news.
Eric Sussman, professor of real estate and accounting at UCLA, states that high demand, an abundance in competition, and most importantly, a lack of supply are all factors contributing to the sustaining prices. "There are just not that many homes on the market," Sussman says, while emphasizing that a dominant rental market is causing home owners to keep their properties in lieu of selling. He believes there's little cause to foresee prices to bottom out anytime soon.
For Sellers, this period is as good as the golden era. With lucrative prices reaching historical highs, Sellers were able to capitalize on their profits, getting maximum equity for their investments. As the current bullish real estate market moves in favor of those looking to off their properties, there are many who have already taken advantage of the current situation, that's been so ripe with opportunity.
In the end, whether your a buyer or seller, the most important question is, "how much longer will home prices continue to rise?" "Trees can only grow so high," Sussman states, finding the question difficult to answer.
1350 Linda Ridge Rd, Pasadena, CA 91103
Designed by Gregory Ain, this 1950's Mid Century Mansion has just gone on the market for the first time in 60 years. Once home to the infamous Walter Ralphs of the Ralph's Super Market super chain, this classic home was recently awarded a historic landmark status by the city of Pasadena in 2014.
Boasting six-bedrooms, and four-baths, the original built-ins and the abundance of original wood paneling truly makes this home a blast from the past. This is one of the very few Mid-Century Modern homes that seems to blend seamlessly with today's contemporary designs. As modern generational styles infuse with the old, many aspects of older homes may seem dated or lackluster, but this carefully crafted mansion is a true work of art.
Listed at $2,999,999 the 3,678 Sq. Ft. mansion features spanning views of the hillside, overlooking the pool. Tall old-oaks tower over a perfectly manicured lawn- reminiscent of a quaint countryside escape, frozen in time.
1928: Braly Building- The Beginning
Throughout the rise and development of Downtown Los Angeles, many have been able to witness the dynamic transformation of the rich; geographical diversification that has occurred over the last few decades. Most of which that came to pass in the form of towering edifices, swallowing whole some of the busiest streets of Los Angeles, dating all the way back to the 1900's.
It all began in 1903, before the start of World War II. The Braly Building (the Los Angeles's first high-rise) was erected. For the next two decades, the tallest buildings would only be 13 or 14 stories (due to restrictions that were put in place after the completion of the Braly during the Golden Age). In 1928 City Hall was completed and was considered to be LA's first skyscraper holding the title of the city's tallest building for 36 years.
Fast-forward 100 years and we arrive at the colossal- Wilshire Grand Center. Built and completed in June 2017, the skyscraper that is located in the Financial District, is currently the tallest building west of the Mississippi River. Outside of New York and Chicago, the Wilshire Grand Center building would be the 9th tallest building in the United States, and some would even refer to it as the "Times Square of the West." In light of such a significant benchmark, Commercial Cafe (A Commercial Real Estate Blog) has put together a video of the evolution of Downtown LA, "from the very first skyscraper, to its latest."
The Metro committee has announced on Wednesday, April 19, 2017, that they would be implementing a new swipe-able wristband that would replace the current Metrolink TAP cards. Designed by Oberthur Technologies, the new wristbands are now currently being tested by a group of 20 to 25 passengers with disabilities.
The Hollyridge Trail, perched on top of a hill at the end of Beachwood Canyon, has been a popular destination for Angelinos and tourists for many years. Throughout the ages, thousands have made the pilgramage to this iconic site, to soak up the rich history and culture of the sprawling suberb. Unfortunately, the city of Los Angeles has declared to close down the Hollyridge Trail, which will come into effect on April 18th, 2017.
Why is it Closing?
Sunset Ranch Hollywood Stables, a horse ranch in Beachwood Canyon, has sued the city of Los Angeles for impeding, and blocking access to their stables. Hikers must pass through a gate and hike onto the stable's driveway in order to access the Hollyridge Trail. Due to the constant blockade of the driveway caused by hikers and tourists, the Los Angeles Superior Court judge ordered the city to refrain from "precluding ingress or egress of vehicles relating to Sunset Ranch."
Though for now, the trail is scheduled to close, there are other ways to access the sign. Read about alternative routes here.
Los Angeles -
As the housing markets continue to sustain at peak prices, the rental prices are seeing a big jump from last month, with an increase of 3%, according to a report from Zumper. Los Angeles remains the sixth most expensive city for apartment rentals, trailing behind San Francisco and New York, with a 4.6% increase since spring of 2016.
Read more about the news here.
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.
As the brutal bouts of storms pummeled along the coast of California throughout the months of January & February, The Golden State was proud to announce a lift on the drought advisory that clutched the region for what seemed like an eternity. The once barren peaks of the Eastern Sierra's, now packed with record snow levels, bear a promising return to the city of L.A., in the form of a raging water runoff. Though the unexpected amounts of water edged towards dangerously high capacities, there was one particular town that seemed to benefit from the aftermath- Silver Lake.
With the surplus of water in the L.A. Aqueduct system, it was a great opportunity for the Los Angeles Department of Water and Power to announce the refilling of the Silver Lake Reservoir- which would begin in mid-April.
L.A. City Councilman Mitch O'Farrell wrote, "This overflow is a gift,” but “we need to continue to be vigilant in our conservation efforts for water use.”
“With the above-average snowpack, we have a surplus of water in the L.A. Aqueduct system and with it the opportunity to refill Silver Lake Reservoir ahead of schedule,” said Richard Harasick, the agency’s senior assistant general manager of water.
For the residences of Silver Lake, as well as the Angelinos who frequent the lake on occasions, this promising news could not have come at a better time (especially with summer around the corner).
Read more about the announcement here.
- Relative to history, housing remains affordable but consumers remain squeezed and incomes are falling.
- Housing demand is weak but supply is low causing price to remain remarkably stable for now.
- Rising interest rates dramatically impact housing affordability; and rates have been rising.
- I believe the consumer will continue to get weaker as incomes continue to fall causing the housing market to take a down turn over the next year.
Where We Stand
After bottoming in 2009, home prices showed strong growth through 2013, and has since cooled off slightly. Over the last 2 years, home price growth has been remarkably flat due to an interesting tug of war between supply and demand.
Focusing on the growth rate of housing as opposed to the nominal price of housing is important. For example, if home prices are growing at 10% year over year and then falls to 5% growth year over year, home prices are still going up, although at a slower pace. Although prices are still moving upwards. Measuring housing in this fashion often allows you to front run real estate moves because the growth rate has to fall before becoming negative and waiting until the growth rate is negative (or home prices falling in nominal terms) is often to late. Studying the change in growth rate allows you to stay ahead of the curve.
Currently the growth in home prices has been very flat at around ~5% year over year. Since the growth rate is flat, this provides little insight into the direction of the next move in the real estate market. It is now even more important to understand what is causing home price growth to remain so stable.
Supply is very low, putting upward pressure on prices, while demand is weak putting downward pressure on prices; the result being home price growth that has been flat for almost 2 years.
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:
“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.”
“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.”
“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.”
“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.”
"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."
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.