12626 Rye Street, Studio City - coolest house on Realtor caravan today

This is the interior of 12626 Rye Street in Studio City.  It's for sale and has been recently been redone by Better Shelter, the folks with all the cool flips on the Eastside. Described as a "coastal modern traditonal," it has 3 beds, 2 baths, 2 bonus rooms, 1700 sf and a pool.  Listing price is $1,199,000. If for no other reason, it's worth seeing for the great flea market/transitional interior design.

R.E. follies of the week

Here's how the week went. 

My client and I are still waiting to hear about his bid on a Silverlake property being sold by Better Shelter.  If you're not familiar, BS does a lot of very nice rehabs, mostly on the eastside.

Other clients and I were so excited to learn that a home they liked in Sherman Oaks was actually available.  Yes, it had had other offers, but was not in a bidding war! Sound too good to be true? Well...the agent insisted that her client would take nothing less than full price.  The seller needed to find a replacement home, but that was not a contingency for selling the current home.  So we wrote a full-price offer.  And were then told that the seller needed at least a 30-day rent-back, or longer, after close of a 45 day escrow, as she didn't want to move twice.  Long-term rent-backs are extremely rare and very unpopular, so we declined and the negotiation ended.  The seller then raised her list price by $10k.  Good luck with that...

And here's another reason that inventory may be short: sellers are selling their homes privately.  I was about to list a nice home in Woodland Hills, but the neighbors approached the sellers with an offer first.  No Realtor is involved.