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.

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!

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.

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.

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.

Happy Thanksgiving!

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

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.

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.

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.

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.

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.

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.

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.

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.

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."

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.  

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.

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.

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.

From the New York Times: When the dog decides where you live

Here's some Sunday reading from the New York Times -- When the dog decides where you live (title should link)(pic courtesy of NYT too). The article was written from a New York perspective but is certainly not news for us and our house hunters here in L.A.

Brand new listing in Sherman Oaks

14784 Round Valley Dr. in Sherman Oaks is coming on the market Wednesday, July 27, for $1,189,000. See more pics at 14784RoundValley.com. This 1999 sf. contemporary is heaven in the hills. Superbly maintained, this private and peaceful 3-level home has a tree house-like indoor/outdoor feel.

This 2+loft+3 features a professionally-landscaped entertainers’ outdoor area with lap pool, spa, fountains, and adorable pool house. Inside, the 2^nd floor living space is both huge and cozy and features the dining room, fp, powder room and access to the wonderful wrap-around deck.

Remodeled kitchen and baths include caesar stone counter tops, stainless steel appliances, and custom vanities. The big, bright master has a fireplace, en-suite bath with jetted tub and walk-in closet.  Another full bath is adjacent to the sunny 2nd bedroom.  The loft with its large closet can be repurposed as an office, den or 3rd bedroom.  You'll love gazing out the wall of windows at the hills, terraced garden, tree tops, or twinkling city lights.

Please contact me for more details.  It will be open for brokers this Friday, and open to the public on Saturday and Sunday.

12412 Rye Street in Studio City is now offered at $849,000!

This classic Studio City home could be your next masterpiece, and has just had a substantial price reduction.  This well-maintained traditional home features 2 bedrooms, 1 bath, a big den, dining room, fireplace, big kitchen and more. It offers 1481 sf on a 7600+ square foot lot, which means there is plenty of room to add on.  And as you'll see from the pics, the landscaping is gorgeous, too.  Call me for more info.

1112 Cordova in Burbank sold off-market yesterday

This is my listing at 1112 N. Cordova in Burbank and it closed escrow yesterday.  It wasn't on the market; I advertised it privately to a few Realtors with the right type of clients -- ones that wanted to do some work to a house.  We got a dream offer -- $700,000 in cash, no inspections, no contingencies, and a free 29-day rent-back for the sellers.  There were some hitches in the escrow, of course, but everything worked out at the end.  Whew!

12412 Rye Street, Studio City is open Sunday, July 10, 2-4

12412 Rye Street in Studio City is a classic beauty is just waiting for buyers with fabulous taste.  Her features include: traditional floor plan, separate dining room, huge den that leads to backyard, patio with pergola, gorgeous green landscaping, hardwoods and 1481 sf.  The home has been carefully maintained throughout the years and has a newer roof, tankless water heater and some new windows.  Listed at $890,000, the home is ripe for an add-on, a re-do, or just to live in and love as is.  Studio City is one of the hottest neighborhoods in L.A. For more pictures, please visit 12412Rye.com.  Come visit us this weekend at the open house.

Hot new house for rent in Studio City

Want to rent a 3+2 home in a private garden setting? One that's been recently renovated with new hardwood floors, a redone kitchen with new appliances (including refrigerator), two redone bathrooms, new paint and more? That allows pets with some restrictions? And is walking distance to lots of Studio City attractions? And is behind a large brick gate for privacy? Look no farther than 10920 Fruitland in Studio City. The house also has a fireplace, central air, lots of built-ins for storage plus attic storage, and a detached garage.  There's also dedicated street parking and a washer and dryer in an outdoor structure. The landlords will even allow some gardening for those with a green thumb -- although everything is manicured, lush and green already.  The house rents for $4500/month.  Please call me to show or for more details.

And the Burbank townhouse goes to...Daniel and Linda!

Clients Daniel and Linda just closed their purchase of a Sarah Street townhouse in Burbank.  These units, and the adjacent units on Kling, have been wildly popular since long before I got into real estate.  They are on the Toluca Lake-side of Burbank. Most of the units are about 1500 square feet and they have attached two-car garages.  HOA dues are low, and there are a couple of pools in the complex.

Some of these units are real showplaces.  Not Daniel and Linda's though -- it needed a lot of work.  But the two buyers are really creative, and really brave, so I'm sure they'll make it into something beautiful.  Yes, we faced a bidding war.  But D&L wrote a wonderful letter to the seller about themselves and what they planned to do to the unit.  That seemed to do the trick.  Plus, both buyers and the seller are in the entertainment industry and as we all know, like attracts like.

There were a couple of other challenges as well.  The buyers were getting their loan through Partners (Disney's) credit union.  Sometimes credit unions can take forever to close a loan, but not this one.  We closed right on time.  Plus, the popcorn ceiling has asbestos in it -- yikes! The first thing the buyers will be redoing is the ceiling. Congratulations again, Daniel and Linda, and I can't wait to see how you improve the place.

Classic home for sale in Studio City - 12412 Rye Street

Looking for a classicly proportioned home in a great Studio City neighborhood? One that is just waiting for your design stamp and decorating? If so, 12412 Rye Street may be for you.  Listed for $890,000, this beauty features 2 bedrooms, 1 bath, a huge den, 1472 sf, big added-on den, large backyard and luxurious landscaping in a pretty above-Moorpark neighborhood.  She's been splendidly maintained over the years and has a newer roof, tankless water heater, and mostly new windows. Update, remodel, or add square footage and this home will be seriously stunning. Come visit me at the open house on Sunday, June 26, from 2 to 4. More pics at 12412Rye.com.

Huge townhouse in stellar Studio City location - $530,000

I am pleased to announce that my listing at 4332 Coldwater Canyon #1 in Studio City will be on the market on Monday, June 13. If you've been looking for a perfect place, this may be it – 1452 sf, two bedrooms, three baths, dining room, spacious kitchen, high ceilings, two fireplaces and a big, private rooftop deck with a tree top/hillside view! Other amenities include lots of closet space, an electric car charger, built-in book shelves, two balconies and two parking spaces. The unit’s corner location in this small building (only 4 units) guarantees a bright, sunny exposure. Low HOA of only $200/month. It's walking distance to Ventura Boulevard with all of its shops and restaurants, and close to golf and tennis clubs, too. Add your own creative stamp to this -- it's a decorator's dream at an unbelievable price.  Appliances included; Dixie Canyon Elementary. Call me for more info or to visit. Currently scheduled open houses: Friday, June 17, 11:00-2:00; and Sunday, June 19, 2:00 to 5:00.

My clients just bought a home in Sherman Oaks and I learned more about septic tanks than I thought there was to know.

Congratulations to Joe and Amy on their recent purchase of a wonderful mid-century home in Sherman Oaks!  Over the months, we saw every home in Sherman Oaks and Studio City, but nothing clicked.  Then, we arrived at this Sherman Oaks home and it was love at first sight.  It was recently bought and flipped by a celebrity flipper couple; click here for L.A. Times article.  Yes, we had competition, but Joe and Amy really brought a lot of creativity to the offer process and ultimately prevailed.

Did you know that portions of Sherman Oaks' hillside properties are on septic tanks and not city sewers? Neither did I until this sale -- septic tanks are not common in L.A.  So as part of the buyers' due diligence, they had the entire septic system inspected.  And we read reports previously obtained by the sellers. And learned lots and lots about tanks, pits, depth of pits, how often the clean-out needs to happen, care and handling, drainage, etc.  We combed over the findings (the inspection videos are on Youtube, if you are brave enough want to see them).  This is definitely NOT the sexy part of real estate.  At the end of the day, all was well and we all are much better educated than when Amy and Joe began their journey.  The house and view are truly lovely and I'm sure Joe, Amy and their dogs will be very happy there for many years to come.

I am quoted about Studio City in today's L.A. Times Hot Property section

Today's L.A. Times' Hot Property section has an extensive profile of Studio City.  Click here for the link.  And I am quoted in the Expert Insight portion:

“The great thing about Studio City: It’s not all high-end,” said Judy Graff, a real estate broker who lives in Studio City and specializes in the neighborhood.

The same is true when it comes to real estate.

“There's quite a variety of housing stock here, from town houses and condos, which are quite affordable, to of course estates up in the hills in Fryman Canyon,” she said. Because of that, “prepare yourself for a bidding war.”