I'm thrilled to announce that Victor Agbayani has joined Judy Graff Properties!

Watch us grow again! I'm thrilled to announce that Victor Agbayani has joined Judy Graff Properties as an agent.  I've known Victor for 20 years and even showed him some houses before he got his license.  He's one of the smartest people I know and one of the best agents as well -- he's been extremely successful from the moment he obtained his r.e. license 20 years ago.  That was no surprise to those of us who knew him before. Here's his bio:

Victor Agbayani had been selling residential real estate in Los Angeles full-time since 1998. Knowledgeable in the many complexities of today's real estate transactions, his areas of expertise include the fast appreciating "Eastside" from Eagle Rock to Arcadia, the "Valley" from Burbank to Woodland Hills, and the "Westside" from West Hollywood to Silverlake, the Desert area - Palm Springs tp Palm Desert. Victor always strives to give his clients the best and most service, staying personally involved throughout the entire process. Open communication, mutual trust, respect, and a sense of friendship are important elements of Victor's business life. Having spent his entire career in sales, Victor has developed strong contacts with most of the local real estate professionals and affiliates including, but not limited to, other real estate agents, brokers, lenders, escrow officers, title representatives and appraisers. These positive, interpersonal business relationships help ensure smooth, hassle-free real estate transactions.

Victor can be reached at 323-547-6011 or vagbayani@aol.com.

Thanks for joining us, Victor!

White, gray, wicker: is home-for-sale staging beginning to look all the same?

I love good staging at homes for sale.  Yes, furniture and accessories do help to sell homes.  Lately, though, I've noticed a sameness to the staging at most of the homes for sale that I see here in the L.A. area, regardless of who the staging company is.  Everything is white and gray, with a "pop" of  bright accessory color.  And wicker.  Lots and lots of boxy wicker outdoor furniture. (There's a lot of new home design similarity too, but I'll save that for another time.)  The east side homes aren't quite as guilty of this as the west side and valley, but they're catching up.  For example, this is what I saw during just the last few days. I wish I had invested in this patio furniture company.

Priced for drama or priced for sale?

It’s no secret that much of L.A. real estate sells for more than the asking price.  And it’s no secret that Realtors sometimes price their properties for a little less what they will certainly sell for in order to quickly get offers.  The sales price of a particular property – what qualified buyers are willing to pay for a property, along with availability of funding, comparable home sales and property condition – usually winds up being exactly what the home is worth in the current market.

But how much is too much when it comes to underpricing? Recently, I have been looking for properties for clients on the popular eastside of L.A.  And I have seen places deliberately priced for more than $100,000 under what they will eventually sell for.  Yup, One. Hundred. Thousand. Dollars. Less.  The Realtors know it.  The sellers know it.  A lot of buyers don’t know it, though, and get excited about the prospect of buying in their desired neighborhood. A lot of buyers’ hearts get broken.

Why is this extreme underpricing necessary? All it does is disappoint many, many potential buyers who will never be able to really afford the particular property.  It wastes everybody’s time.  And it creates a lot of unnecessary drama around the showings and the marketing process.  Who benefits from this approach? In a hot market, the sellers are going to get the best price the market will bear anyway.  Is it bragging rights? Do the Realtors and sellers need that much attention?  C’mon, guys; let’s try to bring some fairness to a process that’s already pretty unpleasant.

Milla Goldenberg joins Judy Graff Properties

I am thrilled to announce that Milla Goldenberg has joined me as a real estate agent. I've known Milla for nine years -- we both posted regularly on L.A. Times' late r.e. blog, LA LA Land.  Here's Milla's bio, in her own words and from her website at HouseHunterLA.com.

Like many people, for a long time I wondered what I wanted to be when I grew up. And like many more, I got it wrong with several different jobs before finally getting it right with real estate. The detours were often fun and interesting, including stints as a journalist for NPR, GEEK magazine and various entertainment publications, which took me to Comic-Con and landed my byline in "The New York Times." Other times, they were less fun, like those dreary 11 years I spent working in financial compliance.

 

It seems obvious to me now that real estate was my true calling and my biggest regret will be that I didn’t switch careers sooner. I also regret not becoming a homeowner sooner, as I truly believe homeownership is the best path toward financial security. When I did finally buy my little fixer in 2008, a foreclosure in Highland Park, I was a single woman with limited means up against a big bank that refused to negotiate. The entire experience was stressful and isolating, with tons of jargon I didn’t understand being thrown at me daily and the creeping suspicion that everyone involved was only interested in making money off me, my agent included. While lousy at the time, that experience helped shape my philosophy about the kind of real estate agent I promise my clients I will be: one who is patient, not pushy, puts their interests above everything else, is committed to excellence, and believes in total transparency.

 

It’s the promise I make to you as well, whether you’re looking to purchase your first home (and uneasy about the implications) or ready to sell and trade up. I promise to stay by your side every step of the way and do everything I can to ensure a stress-free experience. And as a native Angeleno (who attended both UCLA and USC -- go, Brojans!), I know Los Angeles well, particularly Northeast LA, and not just the neighborhoods, but the restaurants, coffee shops, art walk and community events as well. I'm happy to answer any questions about them while addressing all of your real estate needs. Call me today to get started.

From today's L.A. Times: L.A.'s hottest zip codes

Today's LAT has published an article called L.A.'s hottest zip codes. It details the areas with the greatest home price appreciation in 2015.  No surprise: both the east side and the beach areas saw the greatest gains.  Also no surprise: a lot of the home sale price appreciation in these areas reflect prices for smaller homes.  Developers are buying these smaller homes at a premium, tearing them down and putting up much larger homes.  Anyway, re the east side, Lincoln Heights and Elysian Valley (which used to be called Frog Town) saw home sale prices rise 14.6% -- and the median price there is still a relatively low $458,500.  (And by the way, if you're looking for a house on the east side, I can help you.)  Of course, Marina Del Rey's and Manhattan Beach's price have much higher median prices.  Toluca Lake/Studio City was listed as well, with a median price appreciation of 3.2%.

The east side of L.A. is hot, as if you didn't know

This is my client, Samantha and her dog Willis.  They are standing in front of the brand new #HighlandPark home that they just bought with Sam's boyfriend, Robin. Just in case you're new to L.A., Highland Park is on the north east side, and that whole part of L.A. has gotten insanely trendy.  It includes Silverlake, Eagle Rock, Glassel Park and Mount Washington. (It may include Atwater, Boyle Heights, Los Feliz, and other communities, depending on who you ask.)  Sam and Robin looked for a year and a half before they found this house.  They had been in escrow once before and had written countless offers.  But we finally found this brand new from the foundation on up beauty and all the stars aligned.  

The house was built by a pro flipper and the escrow went really smoothly.  Of course, there were several items that hadn't been completed by our inspection (no surprise) but the builder took care of everything.

This was Willis's first look at his new house.  Shortly after the photo was taken, he gave everything a thorough sniff and seemed to like what he found.  Best wishes on your new home, Sam, Robin and Willis!

Gorgeous Cape Cod in Adams Hill is now on the market

Check out 1221 E. Palmer in the Adams Hill section of Glendale -- it will be on the mls Saturday and is listed for $499,000. More pics can be found on my website at JudyGraff.com.  This adorable home is notable for its outstanding maintenance and the restoration of its original character charm, along with its peaceful hillside location.  The seller has done a beautiful job in making this perfect -- no detail has been overlooked. With peek-a-boo views from almost every room, this 2 bedrooms, 1-1/2 bath cottage also features a dining room, gorgeous hardwoods, large kitchen, dormer windows, laundry room (all appliances stay), garage, storage, central heat and air, and a flat backyard. Updated electrical service and plumbing, refreshed landscaping plus a whole-house fan complete the picture.  Adams Hill is located in south Glendale and is adjacent to Atwater and Eagle Rock.  This pristine neighborhood of character homes was listed by L.A. Magazine as “One of the Ten Best Neighborhoods (That You’ve Never Heard of).”  Please call me if you'd like to see it -- it will be open on Feb. 10 from 1 to 4.

News of the week and house of the week in Valley Village

Whew! Coming up for air here, and bringing you news of the week.

First, the house of the week: 5501 Morella, Valley Village, $499,994, 3+1.5, 1334 sf, pictured above.  I showed this last night and it's in a cool little pocket.  The house needs decorating, but it's clean and has been expertly maintained by the sellers.  I wish my carpet looked as good, and I wish my kitchen was as spacious.  If you are looking for a decorating project, this would be a great buy.

What did I tell you about L.A.'s "eastside"? You'll see my take on Highland Park, et al, below -- I toured the area recently and was really impressed.  Now, Alejandro Lazo of the L.A. Times has a front page article entitled Investors flip over Highland Park.  That's just what I saw when I was there a few weeks back.

And now for the really big news: I have two listings coming up in Burbank. One is a (rare) architectural home designed by a noted architect, and the other is close to the Chandler bike path.  More news soon!

Finally, 1585 Knollwood, Pasadena is in escrow, after less than a week on the market.  We're still showing for backups. I'll miss going to this house; the setting is just so serene.