Ask me anything: what do homeowners association dues cover?

If you buy a condo or townhome, you will likely pay dues to your homeowners' association.  What do your dues cover? The big items are hazard and liability insurance, and management company costs (if you have a management company -- somebody has to write the checks).  Dues also cover building maintenance, exterior power and gas, general swimming pool maintenance, gardening, any municipal fees, and garbage pickup.  I tell my clients that the amount you spend in dues usually equals the amount you spend on maintenance and upkeep for a single family home.

News of the week: 5227 Denny #101 is still available! And more...

Do you know anybody looking to buy in Noho? Or anybody that simply wants a gorgeous three-bedroom condo? Consider 5227 Denny #101, pictured above.  Yes, it's 3 beds, 2 baths, fireplace, big newer kitchen, bamboo floors, 2 extra storage spaces, 2 patios, and much more in one of L.A.'s coolest neighborhoods.  It is listed for $420,000 and the HOA fees are $261/month.  I can usually arrange a showing with just a bit of advance notice.

In other news, prices are still going up and inventory is still down.  It looks like small (under 1,000 sf) homes across the east San Fernando Valley are hitting the $500,000+ mark now.

And Realtors are continuing to list properties low and then entertain multiple offers and bidding wars.  One client set has been waiting a week now to hear about their offer, which they increased from the original price.

Stansbury is in escrow.

In more upbeat news, I will likely have a small house listed in Burbank soon, along with a 3+2 in Noho that's currently being fixed up.  These may be on the market later this month; just not sure yet.  There may be one coming in Valley Glen, too.

I met a friend and former client at the lounge at Amarano last night and it was swinging! With a chic, younger (than me) set, of course.  Amarano is a boutique hotel right on the border of Burbank and Toluca Lake.  It's a really classy place and we had lots of fun.  My only criticism is that they could improve their house Cabernet.

Saw 20 homes for sale last weekend...

Last week was pretty crazy for showing property for sale in Studio City, Burbank and Toluca Woods.  And the week has been busy too, but I wanted to share what I saw.  Of course, I won't talk about some of the properties my clients are still interested in...

First, there are a lot of nice flips out there.  Seriously, they're nice.  The one pictured above is on Laurelgrove in Valley Glen.  One trend spotted: lots and lots of beigy/brown/cream-colored subway tile.  Tons of travertine.  And no doors on showers.  Also, granite is "last year," and white quartz or caesarstone is this year.

Another tip: if you want a big yard, think Van Nuys.  There are pockets where the houses are smallish, but the yards are HUGE.  Same with Valley Glen.

I showed a pocket listing in Toluca Woods.  Folks, if your Realtor offers to show you a pocket listing (one that's for sale but not officially listed), jump at the chance.  Houses like this won't go into the crazy multiple offer situations that we're seeing today because nobody else but you (and a few other potential buyers) will know about them.

What to say about the Burbank houses? Well, most Burbank homes began their lives as small houses.  Over the decades, successive families built on...and on.  Not all of the build-outs make any kind of sense, but they did to somebody at some time in the past.  If you're considering Burbank homes for sale, think about working with weird floor plans and making them not quite so weird, or weird in your own way, or tearing the back off a house and starting over.  You'll see the same kind of "architecture" all over the San Fernando Valley.

I saw several nice condos and townhouses for sale, too.  However, some of the newer townhomes and condos in Studio City and Toluca Lake look like apartment buildings.  You can tell the developer was attempting to squeeze every possible last dime out of every square foot they built.  Prices are soaring on nice units though, right along with single family houses.

Finally, of course, I spotted the grotto-shrine in a front yard in the valley.  Let's call her Our Lady of Valley Glen, and hope that she intercedes for us in our real estate searches.