Open Sunday, 1 to 4 pm - 10862 Bloomfield, Toluca Lake

Looking for a luxury unit in a beautiful Toluca Lake building? This stylish condo has it all in 1300 sf. High ceilings, open floor plan, big kitchen with lots of storage and counter space, high-end finishes, huge windows, two large bathrooms, patio, in-unit w/d, fireplace, two parking spaces, and security building too! Expertly maintained unit and building with proactive management company.  All appliances (some brand-new) are included too. Check out the website at 10862Bloomfield103.com.  It's in a great neighborhood close to all that Toluca Lake/Studio City/North Hollywood/Universal have to offer.  And...it's listed for $585,000.  It will be open on Sunday, July 28, 1 to 4 pm, or you can call me for a private showing at 818-370-4837.

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.

Judy Graff Properties: providing the difference

Here's my biz card.

Here's what my yard sign will look like.

It's official! I am pleased to announce that I am finally going solo and forming my own real estate company.   This new direction will give me the opportunity to give my clients more of what they need – expertise and outstanding service.  No pitches or pressure, just astute advice, counsel and solutions for your real estate needs.  Call it Judy Graff Properties, or just call it me – Judy Graff.  I can be reached the same old ways.

I have been delighted to be of service to all of my real estate clients for the almost two decades, and I am honored to have been part of my clients' lives.  I look forward to continuing to help, advise and educate new clients on their real estate transactions with my new venture.  

Ask me anything: is Spring the best time to buy or sell a house?

Is spring the best time to buy or sale a house? If you live in a place that's buried in snow four months a year, yes.  Not here.  Here, the best time to list or buy is whenever it's the best time to list or buy for you.  Here's what I can tell you about seasons (what are those?) and Los Angeles area real estate:
- Because the days are longer, you can squeeze more showings into the spring and summer months;
- Inventory usually is shortest in December.  But that doesn't mean that houses don't sell -- they do; and just as rapidly as any other time if they are in good condition and priced well.
Please let me know if I can give you any other insights into good times to list or buy a home.

Novo Cafe in Toluca Lake

Are you doing carbs this week? Tried out Novo Cafe in Toluca Lake with friend and former client Kerri last night and it was terrific.  It looks like an unassuming coffee place and yes, they have coffee, snacks and pastries that are ordered at the counter.  But they also make their own pasta, and offer many pasta dishes at lunch and dinner.  Although I had the beef ragu with papardelle (delicious) there are many entrees for vegans and vegetarians, too.   And, essential for my dining experience, they have wine and beer.  The entrees are ordered at the counter and brought by the enthusiastic wait staff.  Dishes are bare bones -- no salad or bread unless you order those on the side -- but with the low prices nobody should mind not eating even more carbs.  The address is 3900 W. Riverside.

Bragging. This full page ad is running in the L.A. Times' SFV real estate section today.

This ad from my company congratulates me for being in the top 1% of my office for the first half of 2013.  Thanks, clients, for making this possible!

Prices of homes for sale increased locally, as if you didn't know

In case you did not see the L.A. Times, home prices increased 24.7% year over year.  And not just for homes in Burbank, Toluca Lake or Studio City either -- this is an average of five counties.  L.A. county home prices increased 30.2% to an average of $410,000 per house.  Here's the link to the article.

Need a gorgeous 4+3? Please visit 4140 W. Hood, Toluca Lake on Sunday, 10/14, between 1 and 4

Yes, 4140 W. Hood in Toluca Lake is all that.  A kitchen to die for, a huge living room, one downstairs bedroom, three bedrooms upstairs, and almost all new.  I could go on, but you can also see the pictures at JudyGraff.com.  Steve and I will be hosting an open on Sunday from 1 to 4 and hope to see you.

Brand new in Toluca Lake - 4140 W. Hood!

This is 4140 W. Hood, Toluca Lake, 91505. I just listed this beauty for $1,297,000 and it will be open this coming Sunday.  The house has been completely remodeled and expanded and features 4 beds and 3 baths in 3013 square feet.  The living room is huge with high ceilings, bay windows, a fireplace and a curved, custom staircase leading to the 2nd floor.  The kitchen is awesome -- high end appliances, wine refrigerator, 6-burner cooktop, tons of prep space, custom cabinetry with pull-outs and organizers, veggie drawers, -- you can't NOT be a good cook with a kitchen like this!  One bed and bath are downstairs and the other three are upstairs.  One bedroom features a bay window, built-in shelves and a fireplace -- it would make an exquisite upstairs den.  The master features another fireplace, a retreat, a built-in plumbed for a wet bar, and a balcony that practically runs the length of the 2nd story.  There's a huge walk-through closet with custom cabinetry that separates the two bathing areas.  Outside, the gorgeous green yard is also perfect for entertaining, bird-watching or relaxing.  This is very close to Lakeside Country Club and Warner Bros. studios, and the Burbank zipcode means excellent city services and schools.  I'll have it open on Sunday, Oct. 14 from 1 to 4 and I hope to see you there!  More pictures can be found on my website at www.JudyGraff.com.

Busy week in the home buying and selling world

It's been kind of a crazy week, and I know you all love the dirt, so here goes: First, I'll soon have a gorgeous, almost entirely brand-new home in Toluca Lake on the market. It's about 3,000 sf and will list for $1,297,000. We are working on staging now with pictures to come and then I'll have all the info here.

1429 N. Rose, Burbank is in escrow and all is going well, so far, there. The buyer just did her home inspection yesterday, the pest inspection was today, etc. This won't close until the end of October. By the way, the two cats (pictured above) that live at Rose now need to be rehomed. They are twin black and white kitties, about four years old, can live inside/outside or both, and are very sweet. They were born in Brazil and can meow in Portuguese! Any takers?

Next, there's the Ben Mar home in Burbank. That has NOT been a fun transaction so far. I will have a long post about this baby when it closes. For right now, I can tell you that the buyers and I celebrated the removal of all contingencies last night at Bow and Truss in NoHo.

Then there's the short sale condo in West Hollywood. Jeez, as if short sales weren't bad enough...when a condo is sold, both the buyer and the buyer's lender need to look at the home owners association's financial and governing documents. And getting the HOA documents in a timely manner is ALWAYS iffy. In this case, it's been an extra hard tooth-pull. And we learned that there is litigation against the home owners association from a disgruntled former resident. That's a red flag to the lender. At any rate, it's been one of those 50-emails-a-day transactions this week for me and everybody else concerned and I hope to have this sailing smoothly early next week.

Enjoy your weekend, everybody!

Decorating trends from the past

Everything comes back around, right? I have great news for all of you nostalgists out there -- you can find three different trends from the past all in one house on the Burbank/Toluca Lake border!  It's pictured above and also has lots of square footage and a pretty decent price.  It's a foreclosure.  Usually, the foreclosing bank sends somebody in to spiff up their REOs, but I'm sure they didn't in this case because they know somebody with cutting-edge design sensibilities and a love of mid-80's style will snap this baby up.

Remember glass block as a decorating element? Kinda high-tech, but perhaps not quite as useful as other materials? Well, perhaps this look will come back around soon, because this house has plenty of it.  The bathroom above is just one room, there's glass block in several others, too.

And remember colored commodes and other fixtures? Both whimsical and matchy-matchy? This home has both a pink bathroom and a blue bathroom.  I guess that's one for the boys and one for the girls.

Each room in the house is painted a different color, and the kitchen tiles are white and red.  There are rooms off of rooms and closets off of closets.  It's almost like the house has attention deficit disorder. Million-Dollar Listing it's not.  It will take vision, but I'm sure one of you mid-80's enthusiasts will love it, yes?

Why foreclosure reform might be a good thing

This property is 10633 Chiquita in the Universal City area of Toluca Lake.  I sold this to Carlos and Elaine back in 2007 for $867k.  It had been extensively remodeled and was gorgeous.  Unfortunately, Carlos and Elaine fell on hard times (didn't everybody?) and attempted to modify their loan last year.  RCS, the servicer, gave them the run-around.  At the beginning of this year, just as the owners began to consider the short sale process, the lien holders foreclosed on the owners.

And then turned around and sold it to an investor for $440,000, stating that it was a 2+1 instead of a 3+3.

But somehow, before that, RCS couldn't be bothered to reduce the interest rate for Carlos and Elaine even a little bit, let alone write down principal.  Or give them time to short sale it.

Why not? If the lien holders were willing to take such a big hit, for way under market value, why couldn't they modify the original loan? Your guess is as good as mine.

Something is really, really wrong here.

By the way, the house is back on the market now in the mid-$500's and the listing agent (and I) think it will go for the mid-$600's.  That's a tidy little profit for the current owner.

Lowest price and highest price active listings in Studio City, Sherman Oaks, Valley Village and Toluca Lake

Thanks to our manager, I have the stats on the lowest and highest prices for homes for sale in Sherman Oaks, Studio City, Valley Village, and Toluca Lake as of this day.  These are all active as of today, and it lumps condos and single family homes together. Sorry, Burbank, no stats for you right now:
Sherman Oaks lowest home price: $329,923
Sherman Oaks highest price: $2,495,000

Studio City lowest price: $489,000
Studio City highest price: $10,000,000

Valley Village lowest price: $379,000
Valley Village highest price: $1,595,000

Toluca Lake lowest price: $525,000
Toluca Lake highest price: $8,299,000

Coolest place, ever, in Toluca Lake -- The Red Door

For those of you wanting a fabulous, hip bar/restaurant experience without going over the hill, check out The Red Door in Toluca Lake.


We had been told about this place and were curious. As regular readers of this blog know, we’re always looking for a great cocktail experience to help take the edge off the ever-changing world of San Fernando Valley real estate. So we gave it a go on Monday night.

The unmarked entrance – except for a red door -- is from the alley behind Paty’s coffee shop. Right there, Red Door gets kudos for its intimate, speakeasy vibe. (The actual address is 10057 Riverside Drive.) Inside, the red theme is carried on with splendid, non-matchy-matchy décor, including a long wooden bar, leather banquettes and high top tables, and objects d’art found at estate sales. Yes, there are big-screen tvs over the bar, but they only show old black and white movies. There’s a great, old-school Pandora mix on the p.a. We were there with the early crowd at 6:30 and a ladies’ birthday party (or some sort of celebration) was taking place. Toluca Lake resident Gary Marshall was there with a couple of babes as was noted character actor Chuck McCann (below). We are told that the place gets packed on the weekends.

Red Door has a full bar, a carefully curated menu, and the prices are reasonable. We had drinks, of course – whiskey for husband and vodka for me -- and wonderful mini pork sliders along with lots of great conversation with Mike and Doc, the owners/proprietors. That’s them in the picture. If you’ve hung around in Toluca Lake, you may know Mike from his bartending stints at Timmy Nolan’s and Lucy’s 51. And Doc is a local wildlife rehabilitator.

We had such a nice experience that we had to restrain ourselves from going back on Tuesday – this place has such a classy, warm vibe that it could easily become a habit!

Burbank - Toluca Lake townhouse of the week

This unit is located at 330 N. Maple #D in Burbank and the pictures don't quite do it justice.  It's a 2 bedroom, 2.5 bath, with a large bonus room that leads directly to a common parking garage.  The bonus room would make a great office, media room, etc.  Plus, this is in a great location -- it's just down the street from Warner Bros and close to all Toluca Lake restaurants, Starbucks, etc.  The master bedroom is large and sunny and -- oh, I'm gushing.  Plus, the HOA is $309.  Oh yes, the price is $369,000 but I bet the owner would listen to all offers.  Seriously, although the decorating needs some updating, this has lots of potential.

Toluca Lake home for sale -- nicest from yesterday's caravan

The nicest house that I saw on caravan yesterday was 4355 Clybourn in Toluca Lake (pictured above).  It's a 2+2 with separate office and pool for $749k and it has a really comfy ambiance.  That's a terrific price for this neighborhood, too. (You may recall my posts on the short sale that's catty-corner across the street, 4362 Clybourn -- I've just heard that the foreclosure sale has been post-poned again -- that makes about six postponements.)


I also saw another Toluca Lake home that is on a cut-through street and is priced at about $1.5 mil.  It just wasn't that awe-inspiring, unless you count the Michelob tab at the wet bar, the bidets, and the pet bunny.

For real estate, these are the "dog days"

Regardless of how the r.e. market is doing, every mid- to late-August, the local real estate market slows down.  Of course, it's doing that this year, too.  I often refer to this period as "the dog days of summer."

The official definition of "dog days" on Wikipedia is really interesting; here's a quote: "A casual survey will usually find that many people believe the phrase is in reference to the conspicuous laziness of domesticated dogs (who are in danger of overheating with too much exercise) during the hottest days of the summer. When speaking of "Dog Days" there seems to be a connotation of lying or "dogging" around, or being "dog tired" on these hot and humid days. A similar myth asserts that the time is so-named because rabid dogs are supposed to be the most common then. Although these meanings have nothing to do with the original source of the phrase, they may have been attached to the phrase in recent years due to common usage or misunderstanding of the origin of the phrase."

Why does the real estate market slow down? People are getting in their last-minute vacations, getting kids ready for school, no longer feeling the imperative to close before the end of the summer, etc, etc.  Of course, bad economic news has an impact as well, but trust me, it's always slow at this time of year.

If you're a buyer, and are disappointed by how few homes there are for sale in Burbank, Studio City, Toluca Lake, Valley Village, etc., please know that you're not alone.  Inventory usually picks up about the second week in September.  And of course this is the time for price reductions on homes that have been on the market for awhile.  Remember, you're only looking for one house.

Winner homes -- and not -- of the weekend

We were all over the place this weekend.  I won't give the address of the "winner" house since my clients are interested in it, but it is in Toluca Lake and has very fanciful decorating.  The bathroom picture is above.

The second pleasant surprise was at 543 Stocker in Glendale.  This is a typical 80's townhouse.  I have a bit of a prejudice against these as they're usually in neighborhoods that are way over-built by now, but was clean and nice and has 2 decent-sized bedrooms.  The living room is a little small, but for $299k...

And then there's 4276 Kling in the Burbank portion of Toluca Lake, which is a short sale.  Everybody, including me, loves this complex.  I could probably sell five townhomes there today alone if the price was low enough.  Alas, it just wasn't for my buyers. 

And now for the losers:  The first is a 1960's condo in Glendale.  The neighborhood is okay, and the place was clean, but it looks like the complex your grandmother lived in during the 1960's.  Just very apartment-y.  And there's no laundry in the unit.  And the home owners association dues are $429, but that includes all utilities.  This poor little unit just had nothing about it to love.

Then there's the condo on Oxnard in Valley Glen.  My clients and I have tried to see this twice.  The first time we were told it couldn't be shown because the bed wasn't made.  This time, we had an appointment and somebody was going to meet us there to wrangle the large dog.  But we were stood up.  My clients were very good-humored about it, but I felt really badly that their time had been wasted.  I think that just might be it for condos in Valley Glen, but you never know.

Just posted 2nd qrtr home sale stats for Burbank and Studio City

I just posted home sale price ranges for March through June on my website at JudyGraff.com.  Check the "About Burbank" and "About Studio City" pages.  Stats for Toluca Lake, Noho, Valley Glen and Glendale are coming soon -- as soon as the site manager restores those pages.

BofA has figured out a new way to torture short sale buyers

Honestly, Bank of America must have a department of weasels who stay up all night figuring out new ways to stab clients and potential buyers in the back.  Here's the latest from a short sale I'm involved with in Toluca Lake (I represent the potential buyer, who wants to pay all cash): BofA will no longer take equities (stock funds, etc.) as proof of funds to complete your purchase.  So now, if you send, say, your Morgan Stanley monthly statement with your offer to show you have the money to complete the short sale transaction, that won't be good enough.  BofA wants you to liquidate those funds and put them in a cash account, even though they haven't approved the transaction yet.  Or else, you can come up with a pre-approval letter from a lender stating that you have liquid funds to close. No word on whether they want you to liquidate your 401K in advance of approval.  What next from Darth Vader BofA?