View Park, LA - my latest neighborhood discovery

You can live in L.A. for decades and still discover new places and neighborhoods.  That's why I love Los Angeles.  Last weekend's discovery was View Park and Windsor Hills.  I was completely knocked out by the stunning housing stock, the manicured landscaping, and the very quiet neighborhoods.  The rolling hills reminded me of Beverly Hills.  Much of the housing stock is large 1950's and 1960's homes, but there are also 1920's and 1930's character homes here. It was hard to spot any home that wasn't expertly kept up. This area is largely unincorporated, which means lower taxes when you sell and private water companies. While prices are soaring there as everywhere, the neighborhoods are still a bit cheaper than corresponding SFV ones -- $800's and $900's for larger houses, $600's for light fixers.  If you absolutely must live on the Westside, this neighborhood may be an excellent option.

Price reduction on 5227 Denny in Noho -- now listed at $430,000. Plus bonus for buyers.

Even though we haven't been on the market even a week, the sellers have decided to lower the price on this gorgeous 3+2 condo to $430,000 from $449,000.  Also, the sellers will credit their buyer $1000 towards closing costs for a less-than-30-days close.  If you're thinking about moving to this up-and-coming area, please come check out 5227 Denny #101 during the open house on Tuesday, the 26th, from noon to 2 pm.  More open house info to follow.

Gorgeous 3+2 condo in Noho for $449,900

This beauty is 5227 Denny, #101 and it's in the rapidly developing area of North Hollywood Arts District. Features include a front-facing unit, huge kitchen that opens to the sunlit living room, long Caesarstone countertops, glass tile backsplash, bamboo floor, custom paint throughout, decorator window treatments throughout, high ceilings, fireplace, and big, sleek bathrooms with modern fixtures. 2 balconies allow for barbecuing and gardening. This unit has 2 dedicated, private storage rooms downstairs and the building has a bike room, too. Security bldg with guest parking, too. Close to the Red Line, Chandler Bike Path, cool restaurants...there is simply nothing like this unit in the neighborhood. Please call me for a showing.

Movies about real estate: "5 Flights Up"

Today's New York Times has an article about a new Diane Keaton-Morgan Freeman film, "5 Flights Up."  Link here.  I hadn't heard of the movie, but it's apparently about a late-middle-aged couple who are selling their Brooklyn apartment.  And making an unexpected fortune, of course.  And naturally, there's at least one venal, grasping Realtor in the film, because hey, that's who we are. Or who Hollywood thinks we are (don't get me started on who we think they are).  But I guess there would be no story if there wasn't a bad Realtor guy driving the action. Anyway, the article contains many comments from NY real estate agents about how our biz is portrayed. Personally, I can't wait to see it!

Transactions that close and ones that don't close -- yes, it happens

The media always makes it sound like everything is coming up roses for all Realtors, right? Nope.  Here are some recent cancellations and what happened and why.

1. A home in Eagle Rock.  This was a great flip on a hill.  It was really nice inside and inspected really well.  Then we had a geologic engineer come to take a look at the hill and foundation.  There was a foundation settlement difference of over 4".  The city of L.A. only allows 1.5".  My buyer clients gave it some thought and decided to cancel.  They were broken-hearted, but that kind of stuff really costs a LOT to fix.

2. A home in Burbank.  My buyer client backed out just before closing.  Yes, that can occur in certain cases even after all contingencies are removed.  In this case, the client received some disclosures at the last minute, which opens up the buyer's right to review/disapprove/cancel.  She was never committed to the house anyway so this gave her a (bogus-but-legal) reason to cancel.  No, we are not working with her any longer. This was a big time suck for everybody involved.

Now, onto the good news: 8554 Burnet #141, North Hills, pictured above, closed at $370k this week.  The transaction was textbook-smooth and my sellers were wonderful.  So were the buyers and their agent, Jennifer Santulan.  This is a stand-alone home in a planned unit development.  These kinds of properties are excellent options for many people -- you get a (small) yard, a nicely-sized home, an attached garage, community amenities, and a security complex.  There are many complexes like this in the Valley, and I wish there were even more.  Seems that these planned unit developments would solve the density question in L.A. nicely, no?