Saturday, March 25, 2017

From the New York Times - Home inspectors and their weirdest discoveries

Here's some Sunday newspaper reading, one day early.  The article from the New York Times is titled, "Home inspectors on their weirdest discoveries."   The title should link.  The photo above is just one of many from the sometimes bizarro world of real estate.  Enjoy and let's hope that none of this is present during your next inspection.

Friday, March 10, 2017

5544 Ventura Canyon in Sherman Oaks finally closed last week

5544 Ventura Canyon is a beautiful flip done by colleagues/friends of mine.  It closed last week at $888,000.  That was the third time it had been in escrow.  Yes, it fell out of escrow twice, which is a record for me.

Why? The house attracted very well-educated buyers who expected the home to be structurally pretty. They wanted the bones and guts of the house to be as top-notch as the finishes and top-off.  Alas, there were items that were just not up to that standard.  The flippers wound up fixing and redoing a lot of the structural stuff.  Finally, we got just the right buyers and the house closed last week.  The obvious moral of the story is that flipping houses can be very un-lucrative.  If you are considering flipping a house, make sure that you inspect, inspect, inspect beforehand.

Monday, February 27, 2017

Yes on S

If you live in L.A., you probably know about Measure S. It’s the proposition that limits development in the city for two years. Obviously, as a Realtor, I stand to gain everything from this measure going down in flames.  There will be lots of new properties to sell – yay! However, perhaps surprisingly, I support passage of Measure S.

Before I get into why I support this, here is a quote from a column in yesterday’s L.A. Times from none other than Richard Riordan. Mr. Riordan was the L.A. Mayor for two terms.  He says, “The current political environment is rife with corruption and backroom deals servicing land speculatiors and luxury housing developers over the needs of citizens.  If passed, Measure S. will give the decision-making process back to the people.  It will make City Hall work for us, not for the developers, special interests and lobbyists.” Remember, Mr. Riordan has already served his term with the city, seen this up close, and has no dog in this hunt.

Tracy Jeanne Rosenthal is a member of the L.A. Tenants Union and she wrote a column for yesterday’s L.A. Times opinion page as well. Here’s a quote from Ms. Rosenthal: “The housing market doesn’t produce homes; it produces opportunities for investment.  The goals of maximizing profit and making the city livable are at odds.”

I support Measure S for the following reasons.  In my work, I have seen L.A.'s development up close in many neighborhoods.

First, “affordable housing” is anything but.  Builders aren’t building it.  Instead, they are building either McMansions in expensive private neighborhoods or luxury apartments close to transit stops. Developers are not in business out of the goodness of their hearts.  As Ms. Rosenthal indicates, developers need to make a profit.  And they make it by putting maximum-saleable square footage in the most expensive neighborhoods possible.  If the city truly wants affordable housing, it will need to subsidize it in the neighborhoods where people need it. At the risk of stating the obvious, the so-called “housing crisis” is not helped by luxury units or McMansions.

Second, I think high-density proponents need to rethink their support for density, and their opposition to Measure S.  Again, small units in high rises in expensive neighborhoods are a developer’s dream, but not necessarily anybody else’s. There are several other ways to achieve more density in existing L.A. neighborhoods.  Look at the P.U.D.s in Van Nuys, for example. These are single family houses that are next to each other but have limited yard space.  And allowing more granny flats or guest houses in single family neighborhoods with ample lots increases density and helps solve needs of multi-generational families.

Let’s not even get started on traffic.

Finally, developers are running amok. See my blog post from November about my client’s wall being knocked down without their permission. By developers. The clients complained to the city inspector who issued the permit; he never called back.  Let’s keep developers and city officials accountable for their actions.


Whew! That’s it. If you have read this far, thank you.  And please don’t forget to vote on March 7.

Friday, February 24, 2017

Eagle Rock is no longer affordable, as if you didn't know

This A-frame in Eagle Rock just sold for $969k in a bidding war.  Almost a million dollars...in Eagle Rock.  Let that sink in for a minute.  Yes, it's pretty, but this is just another nail in the coffin of affordable L.A. areas.
Photo courtesy of Deasy/Penner & Partners.

Thursday, February 16, 2017

What a Realtor conference is like and predictions for 2017

I just came back from the National Association of Realtors Broker Summit in San Diego.  Everybody has been to at least one convention in their lives, right? If not, and in case you are wondering what these are like, here's the skinny.

It was held at the Grand Del Mar Fairmont in northern San Diego.  This is a triple luxury hotel that looks like an Italian palace.  Miles from anything and super-expensive, so I didn't stay there.  Nice cocktail parties, though.  The pic above is the lobby centerpiece.

As with all conventions, there is music over the public address system between speakers.  I always expect hits of the '80s but this time it was hits of the late '60s and early '70s -- Doors, Hendrix, Jefferson Airplane, Creedence...seemed a little weird to me, to be honest.  But then the average age of  the Realtors there was about 55. Perhaps the convention organizers thought it was age-appropriate, but there is something incongruous about hearing "Bad Moon Rising" just before an economist takes the stage.

The speakers were excellent and I learned a a lot.  Here are my take-aways for you.
- 2017 is going to be about the same as 2016 for real estate.
- However, prices will show a slight rise.  So will interest rates, but we knew that.
- Shortness of inventory is a major problem all over the country. (You knew that.)
- Affordability is a major issue, too. (You knew that too.)
- Student debt is stopping many millenials from buying homes.
- Home ownership is down across the country, and expected to go lower.  We may soon become a nation of renters.
- Our recent election and its aftermath has caused uncertainty in all sectors, but not enough to hurt the economy in the long run.

Here's the deal on crystal ball predictions -- they are just predictions.  We won't know what's really happening until it happens. In the meantime, I will continue to give my own predictions and also real stats to keep you engaged and aware.

Monday, February 06, 2017

Glamorous downtown Burbank condo listing tomorrow

Wanna live close to all the action in downtown Burbank? I have a gorgeous, redone, top-floor condo coming on the market tomorrow.  The address is 427 E. Orange Grove, #308.  It features 2 bedrooms, 2 baths, redone kitchen and bathrooms, high ceilings, balcony/patio, 2 side-by-side parking spaces, and a view of the mountains.  Even better: it will list for $490,000 and the HOA is only $325/month.  It is walking distance to restaurants, movies, the public library, shopping, gyms and more.  On Saturdays, the Burbank Farmers Market is right across the street.  It will be open for brokers on Thursday and open for the public from 1:00 to 4:00 on Sunday. Check out more pics and details at www.427orange308.com.

Wednesday, January 25, 2017

Local home prices jump and sales fall. Yes, again. Or still.

L.A. Times sez: the shortage of available homes for sale here in Los Angeles has caused housing prices to jump.  See the article here.  The same number of buyers chasing limited choices tends to bid up prices, of course.  When will there be more inventory and when will the rise in prices end? According to the article, it won't be this year.  Home prices are expected to rise about 4% by year's end. Photo credit: Jay L. Clendenin / Los Angeles Times.

Saturday, January 21, 2017

FHA loans will be a little more expensive on Monday than they were on Friday

In case you didn't know, you can get a fixed-rate mortgage with less than 20% down. You can even get a conventional, 30-year loan up to about $636,000 for as little as 5% down.  Most of these loans are guaranteed by the Federal Housing Administration, or FHA, which we also refer to as Fannie Mae.  The catch is, and always has been, that you need mortgage insurance if you are putting down less than 20% -- and that can add a lot of money to your monthly payment.

The good news was that the mortgage insurance rate was reduced recently, which means a significant savings for home buyers.  But that was last week.  The bad news is that the new administration's Housing and Urban Development Department raised the insurance rate back up to where it was yesterday.😭This erases a savings of about $1500 annually for FHA buyers in L.A.  Read about it here from today's L.A. Times.

Thursday, January 05, 2017

And if that wasn't enough...a new price for the new year

5544 Ventura Canyon in Sherman Oaks is now listed at $888,000! This splendid re-do features four beds, 3 baths, all the bells and whistles, and is in a fab neighborhood.  I will be holding it open Friday from 11 to 2 and again on Sunday, the 8th, from 1 to 4 pm.  More details can be found in my previous post and at JudyGraff.com.

Tuesday, January 03, 2017

Open Friday and Sunday - 5544 Ventura Canyon, Sherman Oaks

Happy New Year! Need a redone, sexy 4 bedroom, 3 bath home in a fab neighborhood? For $909,000? Come visit me on Friday the 6th from 11 to 2 or Sunday the 8th from 1 to 4 at 5544 Ventura Canyon in S.O. With inspired finishes throughout, the home features an open plan with European Oak engineered wood floors, dining room, and a gourmet kitchen with quartz countertops, custom cabinets and Viking stainless steel appliances.  Rebuilt for today's living with upgrades including LED lighting, dual paned windows, new HVAC, new electric 200 amp panel, and a new roof. The spacious master suite has a customized walk in closet, and a luxurious bathroom with marble counter, double sinks, & an over sized shower.  Each bedroom has exquisite sliding glass doors.  Pretty, green backyard is a canvas for future projects or even a pool. I look forward to seeing you.

Thursday, December 29, 2016

Debbie Reynolds was from Burbank

This week has marked the sad and sudden passing of Carrie Fisher and her mother, Debbie Reynolds.  Debbie grew up in our little Burbank and above is a picture of her in front of her childhood home.  It is located at 1034 N. Evergreen.  I have sold it twice in the last 14 years -- first to a buyer (not related to the Fisher or Reynolds family) and then sold it for the same person 10 years later. It still has that little touch of mid-century glamour.  As you see from comparing the picture above and below, the outside has barely changed, which is a charming hallmark of many Magnolia Park and Burbank homes.  Although the house has been remodeled over the decades, the inside still has many of the same features that it did when Debbie grew up there, too.

Saturday, December 17, 2016

Holiday gift: 5544 Ventura Canyon in Sherman Oaks, 4+3 and $909,000

Does your Santa list contain a sexy, turnkey home in Sherman Oaks? With four bedrooms, three baths and 1840 sf? Well, Santa has delivered a bit early to you this year with 5544 Ventura Canyon in Sherman Oaks.  This gorgeous home features an open plan with European Oak engineered wood floors, dining room, and a gourmet kitchen with quartz countertops, custom cabinets and Viking stainless steel appliances. Rebuilt for today's living with upgrades including LED lighting, dual paned windows, new HVAC, new electric 200 amp panel, and a new roof. The spacious master suite has a customized walk in closet, and a luxurious bathroom with marble counter, double sinks, & an over sized shower. Beautiful green backyard and terrific neighborhood too.  Santa says, "You're welcome." Oh, and happy new year, too!

Monday, December 12, 2016

I am now contributing posts to The Lighter Side of Real Estate

For all of you that have enjoyed my writing here (or not), I am now contributing educational real estate articles to The Lighter Side of Real Estate.  It's a really fun site with lots of tips and tricks for both home owners, buyers and real estate agents.  I am one of Lighter Side's content providers -- much of what I contribute will be for Realtors only to cut and paste for their own blogs or newsletters.

You can still keep coming back to this blog for hyper-local real estate posts and for my usual snark, of course.

Thursday, December 08, 2016

L.A. City Council votes against mansionization

Today's L.A. Times has an article titled "L.A. backs measures to "roll back" mansionization in single family neighborhoods."  (The title should link.) The city council will be rewriting a couple of codes so huge, boxy homes will be a little less huge and boxy.  Sounds good, but they will be reducing sizes from 50% to 45% of a lot size.  That doesn't sound like much, does it? Apparently, garages don't count.

One quote in the article from a developer startled me. “To cram four or five people into an 1,100-square-foot house, one of these old bungalows, it’s a joke really,” he said.  Wow. Lots of Californians -- and people all over the world --  have been born and raised in homes even smaller than that.  These people turned out okay. And nobody's laughing.

Monday, November 28, 2016

Holiday real estate activity

What does our housing market look like around holiday time?  If you are a buyer, inventory probably seems lower than ever.  It is.  And if you are a seller, it may seem as if buyer activity has dried up.  It has.  This is par for the course, folks.  Sellers usually do not want to list in December because most buyers are too distracted by holiday activity to shop for real estate, and visa versa.  That doesn't mean that the perfect house or perfect buyer are not out there, it just means that the new year will likely bring much more activity.  So curl up by the fire, watch HGtv, and make your real estate plans for 2017.

Wednesday, November 23, 2016

Happy Thanksgiving!

Happy Thanksgiving! Here's hoping that you have lots in your life to be thankful for.

Wednesday, November 16, 2016

13506 Hartland in Valley Village just closed, no thanks to a particular developer

My listing at 13506 Hartland just closed. Although we received an offer on the house right away, a property developer almost ruined the sale.  Backstory: As most folks in L.A. know, there are condo and apartment projects going up all over.  An 8-unit building is being constructed behind and to the west of the Hartland house.

Early one morning after the house listed, I received a call from my seller.  “The contractors behind us just tore down my back wall.” Yep, without notice or permission.  Mercifully, it was not the entire back wall.  The next door neighbor had it worse – they tore down his entire back wall without obtaining permission or giving him advance notice.

The developer told my client that his survey showed a six-inch difference in the lot line, to his advantage of course, and this is why he tore down the fences. It’s highly unlikely that there is a true boundary dispute -- the entire suburban tract neighborhood was laid out, and built, in the 1950’s by the same people. The lot sizes are all very similar and there has never been a lot line dispute in the neighborhood.

But anyway, the back walls were already gone at this point, so it was late in the game to have a new survey done.  An attorney we consulted said a boundary dispute would take 2 years and cost over $1000.  The neighbor called the city building inspector who had approved the permit.  He never heard back.  (To my knowledge, he tried the same person several times and never heard back.) 

The neighbor and my client spoke to the developer and contractor (who is also a dentist) and they worked out this: the developer would put up a new cinderblock wall where the old ones had been.  They would also use the old fence to create a boundary for my clients’ safety while the project was completed.  They would not tear out a tree on the disputed boundary.

So where’s/what’s the problem with the sale? We already had a buyer for the property, and now the sellers and I had to disclose that there may or may not be a lot line dispute. No buyer wants to buy property where contractors can claim portions of it don’t belong to the property.  No buyer wants to know that their new neighborhood is going to be overrun by rogue developers. Our buyers were quite concerned and worried about this issue, and the escrow teetered. They attempted to do their own due diligence, but it takes time to get a full survey. They asked for some of the negotiated sales price back.  We gave it back rather than have to go through this again with another buyer.  And the cinderblock wall is completed.

Sunday, November 13, 2016

How will the election affect local real estate?

Here's my hyper-local take on what's going to happen with real estate inventory, prices and interest rates in the wake of the presidential election: I don't know.  And neither does anybody else.

Many questions will be answered over the next several months. Will interest rates go up? Will Los Angeles homes for sale inventory rise? Will lending tighten up or loosen up? Will foreign money leave the luxury and ultra-luxury market here? What about Fannie Mae and Freddie Mac? All this stuff impacts all this other stuff.

So the word here is uncertain.  Hopefully everything will shake out for the better sooner or later.  Yes, I will soon have a post on what buyers and sellers can do in the meantime.

Tuesday, November 08, 2016

Why home info on the internet is so confusing

I get calls from clients all the time about why their home isn't listed, why is it showing active when it's really pending, etc., etc.  Here's the deal -- different websites list information differently.

First, all the secondary sites (Zillow, Trulia, Realtor.com, Redfin, etc.) pick up their info from the local multiple listing services.  We Realtors enter the info into the mls's. The local mls services are supposed to cooperate with each other, but sometimes add each other's info very slowly.  So while you are seeing something on, say, Zillow, your Realtor may not be able to find it on his/her multiple listing service for a few more hours.

The "fast" sites are Redfin and Zillow.  But remember that it all comes from an mls, so its useful to ask your Realtor to create an automatic search on the mls for you, and look at it first.  Slow sites are some mls's and Realtor.com.

Also, there are different confusing designations.  We all know what "active" and "sold" mean.  What does "active-under contract" mean? It means that it is already pending sale, but the sellers are still taking backup offers.  Some websites show this designation as "active." It isn't, not really.  If you really want to see one of these, ask your Realtor to call the listing agent and ask how their escrow is going. That way, you won't waste your time.

And some sites just misinterpret data. (To be fair, some Realtors mistakenly enter incorrect mls data, too.) They mark search fields differently, don't show all open houses, don't pick up pictures, etc., etc.

Confused? Even Realtors get confused by this.  Don't worry, you will get all the info on a piece of property.  It just may take some sleuthing on the part of you and your Realtor.

Saturday, October 29, 2016

Studio City does Halloween

Nothing to do on Monday, the 31st? Come on over to Studio City's Colfax Meadows, Tujunga Village or Woodbridge Park areas (the flat parts of SC).  These neighborhoods put on quite a show for kids and adults too -- haunted houses, sets, lights, costumed characters, sound effects...you'd think some of the residents worked behind the scenes in the film industry or something.  If you visit, make it early -- there's no place to park after about 6:00 pm. I will post pics next week.

Saturday, October 22, 2016

Best things about living in L.A. that you may or may not know about

We all know about many good things about living in L.A. and the surrounding areas. Sunshine, climate, beach, bla bla bla Disneyland, bla bla bla entertainment industry, etc..  Here are a few of my personal best things about living here.  Yes, they're totally random.  Yes, a personal worst of L.A. is coming soon too.

- There's lots of wildlife in the city due to the Santa Monica Mountains.  Not everybody is crazy about that, I know; but it reminds me of how grounded in nature we are. The pic above is of a bear strolling up the driveway at one of my listings a few years ago.

- Vanowen and Chandler Blvd. are usually light on traffic and they're a great way to get across the San Fernando Valley.  Now that I've told you I'll have to kill you.

- Lots of places for cheap massages, as long as you are willing to keep your clothes on and forego the happy ending.  Look for the signs that say "foot massage."

- Korean day spas.  You can stay all day and enjoy salt scrubs, massages, steam rooms, jade rooms, etc. I dare you to channel your inner child and jump into the cold plunge pool. While we are on the subject of things in Koreatown, the whole area smells really good on weekend nights thanks to the many restaurants.

- Esotouric tours.  These folks will take you to secret places with lots of L.A. history.  They have the Black Dahlia tour, the Blood and Dumplings tour, etc.  It's a fun way to spend a day in parts of L.A. that you've never been to before.

- Kulak's Woodshed in Studio City.  This tiny spot is a listening room that hosts any musician that wants to sign up for a 5 minute gig on certain evenings.  They usually go through about 40 people a night.  There is a surprising amount of talent there, too.  No booze, just soft drinks for sale, and it gets wildly crowded the minute the doors open.

- Golden Road Brewery in Atwater/Glendale.  If you haven't been here, it's a huge beer garden/hall/brewery crafted out of three train sheds by the railroad tracks.  It serves food, and has a great beer selection including their own stuff. It's family and pet friendly, too.  Yes, it's almost always packed.

Please feel free to comment with your own semi-secret faves.

Tuesday, October 11, 2016

Where to find an affordable (?) condo or townhouse in the San Fernando Valley

Disappointed by the lack of affordable condos and townhomes out there? And by affordable I mean a 2+ bedroom under $500,000? (I know; that seems like an outrageous price but this is where prices are now.) I took a look through the mls for the San Fernando Valley and here are the areas with the most units available at that price or less: Woodland Hills, Encino, Sherman Oaks.  Glendale also has a bunch of units at this price, but isn't technically in the SFV. One of the major price-determining factor, as always, is location, location, location. Walkability to Ventura Boulevard is a huge plus and adds dollars, too.  If you are willing to go farther north, or father out, the prices go down.  I'm sure I've missed looking some communities, but this is a start.

Thursday, October 06, 2016

14784 Round Valley in Sherman Oaks has sold for full price

This is 14784 Round Valley in Sherman Oaks and it just closed escrow.  I would have bought this house if I could have -- the back area was very uniquely designed and the interior had everything I could want.  The home belonged to my agent and colleague Debby.  The sales process wasn't particularly smooth and the first escrow cancelled because those buyers didn't want to deal with the septic tank. Oh, those septic tanks! The second buyers didn't have a problem with septic tanks, but we had a problem with their agent's "team" of helpers (that will be the subject of another post soon).  But at any rate, onward! Debby and family are now on to a new life.

Sunday, October 02, 2016

The California Association of Realtors Expo and what I learned there

I attended several interesting panels at this past week's C.A.R. Expo and actually learned stuff! The most interesting speaker was Joel Kotkin. (Name should link.) That's him on the right, with the C.A.R. president. If his name is familiar, it's because he is an internationally-recognized authority on global, economic, political and social trends.  He also is an expert statistician. Major takeaways:
- California is losing population, not gaining population.
- Most Gen-Xers and Millennials want to own a home.
- Of those, 81% want a single family home.
- The biggest exodus from the state is by Gen-Xers. Hence, we are losing our work force.
- One of the major reasons for the exit is the lack of housing affordability. (No surprise there.)
This is certainly contrary to most of the factoids that we've heard, such as "we have to build more housing for our increasing population," "the housing needs to be in a high-rise close to major transit centers (i.e. downtown)." He also said that the regulatory climate in CA makes it almost impossible to build anything but multi-family housing near public transportation.  Interesting.  Mr. Kotkin has just published a book titled "The Human City: Urbanism for the Rest of Us." I bought a copy and am looking forward to starting it.

Other convention take-aways: Instagram! Snapchat! 3-D marketing! Info on independent brokerages (like Judy Graff Properties). The unsustainability of rising housing prices except in the luxury market! PM me for more info.

Tuesday, September 20, 2016

Great Yelp review!

My seller client of 12412 Rye Street in Studio City just posted this review of me. Thanks, Mark!

"You could not ask for more...

***
Judy Graff could not have been more professional or pleasurable to work with to sell my mother's house.  My family interviewed numerous local agents before deciding upon Judy -- we could not have been more pleased with our decision.  Judy was dedicated to selling my mom's house well before she was ever formally engaged.  Her pre-engagement efforts went well beyond trying to gain our business; they were truly in the best interest of selling my mom's house.

Judy's selling and representation abilities could not likely be surpassed.  Her screening of potential buyers and advice on offers were invaluable.  Certain unfortunate timing issues of the sale, nothing to do with Judy (in fact, timing issues that resulted from not listening to Judy), did not lead to an ideal sale.  Nonetheless, Judy's strategy, advice and hard work in connection with numerous offers led to the best price from the best possible buyer that the market would bear.  Judy's communication and responsiveness throughout the process was impeccable.

In addition to all of the things you would want in a real estate agent, Judy went above and beyond what one would ever expect or desire in any service provider.  One of the things that made the sale of my mom's house unique is that the house sale was necessary due to the fact my mom has Alzheimer's and needed to move cross country.  Judy's compassion and insight on the issues surrounding the sale were sincere and insightful.

Most significantly, when Judy thought she had led us astray in one respect (by unwittingly referring an estate sale agent who turned out to be a crook), she was honorable and diligent in rectifying the issue in every way possible.  

If anyone would care to follow up with me to get more detail on Judy, do not hesitate to reach out to me directly.  I am more than happy to support my unequivocal referral and recommendation of her."

Monday, September 19, 2016

Amazing house and deal in Valley Glen for $639,000

13506 Hartland Street in Valley Glen is now on the market!  This 4 bedroom, 2 bath, 1832 sf. home will capture your heart. Remodeled from top to bottom just five years ago, it features a huge, open kitchen with lots of cabinet space and a center island, open floorplan, beautiful hardwood floors, French doors to exterior in two rooms, redone fireplace and a huge, green backyard (the lot is 9258 sf). The master bedroom has door to backyard, too!  It also has a direct access garage, plenty of closets and a lovely covered patio with its own fireplace. This neighborhood is becoming hugely desirable – this is a great opportunity to get in now.  Please call for more details or visit the website at 13506Hartland.com.  

Friday, September 09, 2016

Coming soon in Valley Glen

13506 Hartland in Valley Glen is going to be on the market in mid-late-September.  This is an amazing house and will be an amazing deal at $639,000 -- it has 4 beds, 2 baths, was completely redone in 2011 and has a huge backyard.  Contact me after the 18th for more pics and information.

Tuesday, August 30, 2016

There is something special about a house that has been lived in and loved for decades. That doesn't mean that it's easy to sell.

12412 Rye Street in Studio City closed escrow a couple of weeks ago.  The owner is a senior citizen who left the state to move closer to family.  The home is beautifully maintained and gorgeously landscaped.  Unfortunately, it had a floor plan that just isn't popular anymore -- 2 beds, 1 bath, and a huge den tacked on to the back of the house.  And, a large apartment building loomed over the back yard.

Nevertheless, I was excited to sell such a little gem. I competed for the listing and for a few months, the listing was "open" -- other agents (six others, I think) could bring buyers and market the home too.  But eventually, I obtained an exclusive listing at $890,000, which is low for the neighborhood. I thought qualified buyers would be storming the place.

It didn't happen that way.  Although contractor-buyers had swarmed the neighborhood in the early part of the year, most were busy with new builds or just plain not interested by June.  Individual buyers could only see all the work they'd have to do to contemporize the layout.  And we started to get crazy lowball offers, like $700k (buyers, if you are contemplating making lowball offers on any of my properties, know this: if the seller would take a price that low, I'd buy the property myself.)

The seller lowered the price to $849,000 in July and we finally began to get some realistic buyer activity.  We actually had multiple offers just before we accepted one for $840,000.  The buyer is an architect/contractor and closed with a collateralized hard money (as good as cash) in 10 days.  Whew! We then had a bad time with the estate sale person (another story for another time) but the home was finally emptied and closed escrow.  I hope the new buyers do something beautiful to the place that makes their new buyers really happy.

Thursday, August 25, 2016

Second chance on 14784 Round Valley, Sherman Oaks

If you missed it the first time around, now is your chance to own this amazing hillside home in Sherman Oaks.  Yes, 14784 Round Valley is now back on the market at $1,189,000.  See more pictures at 14784RoundValley.com.  (Don't miss the glamourous back area.) We will be holding it open Friday, the 26th, from 11 to 2 and again on Sunday, the 28th, from 2 to 5.