Busted over using Kurt Cobain...ooops

http://northhollywood.patch.com/articles/meet-the-newest-real-estate-marketing-strategy-kurt-cobain

Cordova in Burbank and Denny in North Hollywood are both in escrow

1122 N. Cordova in Burbank's Magnolia Park went into escrow last week.  Now, we just need to find the sellers a place to live (offers have been submitted).  More about that later.  And 5227 Denny #101 in the North Hollywood Arts District is in escrow.  We got the call saying the offer was being submitted about an hour after the first showing on the first day.  And we have to find those sellers a place too (offer submitted there as well).  Whew! Yes, we are very lucky.

5227 Denny #101 in Noho is live on the mls!

This 3 bedroom, super-chic North Hollywood condo is now on the mls.  If you or anybody you know is looking for a unit in the Noho Arts District, this may just be the one.  Built in 2009, it's listed for $420,000 and has uber-low HOA dues -- only $261/month.  The kitchen is huge and new, there are two full baths, fireplace, balcony, extra storage and more.  We will be open on Sunday from 1 to 4.  More pics can be found at my website at www.JudyGraff.com.

Kurt Cobain recorded at my new listing! Well, or close to...

Devonshire Sound Studios on Denny and Magnolia in North Hollywood was famous back in its day as one of the premiere recording studios in the Southland.  Alas, Devonshire is now Salami Studios, but its storied history lives on.  And you can live close to that history at 5227 Denny #101.  This chic condo will be listed for $420,000 in a few days, and features 3 bedrooms, 2 baths, newer construction, a big kitchen, gorgeous bamboo floors and more.  As you may know, the Noho Arts District is undergoing a lot of rehabbing, including widening Magnolia and planting more trees.  I'll have the condo open on Sunday from 1 to 4; more pics tomorrow!  (And yes, I'm sure that Kurt is rolling in his grave.)

Record-breaking crowd at yesterday's open house

I counted over 200 people at yesterday's open house at 1122 N. Cordova in Burbank.  This is a record for an open house of mine. (Previous record was 135 last summer.) This is due to the still-low interest rates and the shortage of inventory.  Yes, the property has offers on it.

Open today from 1 to 4: 1122 N. Cordova, Burbank

Please come visit Steve and me today at this great 3+2 home for $535,000 in Magnolia Park.  Big backyard, fresh paint, new windows, all copper plumbing, big master, and hardwood floors are just some of the features.  Plus, the home is close to Portos, Its a Wrap, Romancing the Bean, Mindful Nest, the Chandler bike path and more Magnolia Park attractions.

Woohoo! More kudos for this blog

This blog is among Realty Biz News' 20 r.e. blogs that stay current. See the link here: http://realtybiznews.com/20-real-estate-agent-blogs-that-stay-current/98719470/

Just listed: Burbank 3+2 in Magnolia Park for $535k

Update 2/13/2013: If you're interested in seeing this home, you might not want to wait.  Showing traffic has been heavy.  Okay, buyers -- is your heart set on a 3+2 home in Magnolia Park super-close amenities like stores, shops, restaurants, the Chandler bike path, excellent public schools and more? Check out 1122 N. Cordova Ave. and prepare to have your dreams come true.  This well-maintained traditional has gorgeous hardwood floors, dining area, cute kitchen, big bathrooms (one new), huge master, plenty of closet space, copper plumbing, central air, a big backyard, two car garage, hot tub all new windows and new interior paint.  It offers lots of expansion opportunities for those that want to add on.  I will have it open for brokers Thursday, Feb. 14, from 9:30 to noon and it will have a public open house on Sunday, Feb. 17, from 1:00 to 4:00.  Please call or email me with any questions.

"Quiet" listings versus "pocket" listings

You learn something new every day.  I just learned that pocket listings aren't pocket listings if listing paperwork has been completed.  If that's the case, the listing is a "quiet" listing.  "Pockets" are only those homes that have no written agreement between the seller and the listing agent. So 621 N. Keystone is a quiet listing, not a pocket listing. 

Not on the mls! 3+1 character home in Burbank is for sale for $635,000

This is 621 N. Keystone, Burbank, and as you can see, it's a 1920's character home.  It's for sale but it's not on the multiple listing service.  It's what we call a "pocket" listing and it may be on the market soon, but for right now, it's being privately marketed.  It is nice inside and has original detailing including windows, fireplace decorations, hardware, etc.  It may need paint and a few cosmetics to restore it to its former glory. The kitchen has been redone and the bathrooms have been updated in original character style.  Of course, it has a great Magnolia Park location and a huge yard.  If you're interested, please contact me for a showing.

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.

Save the pink bathrooms, you retro renovators!

Frequent readers of these posts will know that I have often made fun of colored bathroom fixtures.  But my dirty little secret is that I grew up with this MCM decorating (I am midcentury, too) and have a deep and abiding love for it.  And I'm thrilled to have just disovered Pam Kueber's SavethePinkBathrooms.com site.  Full of pink bathroom tips, places to buy midcentury building and decorating materials, and similar info, SPB is a wonderful companion site to Pam's main site, Retrorenovation.com.  (I'm sure you retro-renovators have already caught on to this site, but I just love discovering this stuff.) Pam's kitchen is below -- bitchen, no?

Speaking of renovated properties, I'll have a wonderfully renovated Cape Cod listed next week in Adams Hill.  Write me offline for details.

Sunday morning reading

There are two interesting articles in the newspapers today:  First, from the NY Times, the esteemed Robert Shiller says that we're NOT in another housing bubble, and the future of housing still has many clouds.  He does agree that the market is improving, however.

And Alejandro Lazo of the L.A. Times has a feature on the Calculated Risk blog.  Please note that CR is in this blogroll, and this blog is on CR's blogroll.  Yes, the blog is a little wonky, but for those of you that like stats, you might want to check it out.

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.

LA home prices up 19.6% last year -- but wait, there's more

Alejandro Lazo at L.A. Times has a great article today about year-over-year housing trends in the L.A. area.  Yes, prices were up in December 19.6% compared to December 2011.  Click here for the article, but read past the headlines -- there's some pretty significant info here (the emphasis throughout is mine):

The strong performance last month indicates that 2013 will also continue to bring home price gains, analysts said.

 

The gains came as foreclosures declined, housing inventory plummeted, mortgage interest rates hit record lows and demand from investors spiked.

In California, buyers can anticipate little new inventory on the market. A supply of only about 2 1/2 months' worth of single-family homes for sale was available statewide at the end of December, the California Assn. of Realtors reported Tuesday. A supply of six or seven months is considered healthy by most economists. Cash buyers and investors are also playing a big part in snapping up home inventory. Cash buyers bought up 33.8% of all resale homes last month, while absentee buyers purchased 29.1% of Southland homes in December.

Oh, those pesky cash buyers! But here's my take-away.  Prices aren't coming down any time soon.  The house you want for $700k will cost you $725k by the summer.  So you may want to think about getting in the game now...

 

 

Adult classifieds from Realtor.com?

You all know Realtor.com, the first listing megasite? It has been a little eclipsed by Zillow, Trulia, Redfin, etc. but it's still a place that serious buyers go to search for properties and contact listing agents.  I just got this contact:

To: Judy Graff

From: laproductionss@aol.com

First Name: robin

Last Name: y

Subject: Lead from a REALTOR.com website consumer about your other listings

Message:

Just saw your pic. You are beautiful.

I'm an investor looking for a beautiful agent to work with and have fun on the 

side.

Interested?

Um, no, Robin Y and you need to get your eyes checked.  Or I need to get a more recent picture.  Realtors out there, feel free to contact Robin if you're interested, but don't forget to give me a referral fee!

Real estate surprise of the week -- a backyard vineyard in Burbank

I was showing property in the hills of Burbank saturday and lo! I discovered this secret hilltop vineyard off Country Club Drive.  I know the pic isn't very good; take my word for it; I had to climb up a hill to get it.  Ah, the discoveries to be made when showing homes for sale!

Coincidentally enough, today's L.A. Times has an article about local backyard vintners and the garagiste movement (article will explain what that is).  Most of the wine-making activity seems to be concentrated in Santa Clarita, of all places.

Two sales to start the new year off

This week, I closed sales on two homes that were contingent on each other.  If you're not familiar, that means that the close of escrow of one house is dependent upon the close of escrow of another (and the transfer of funds, of course).

Buyers Jessica and Sam owned 2101 N. Rose in Burbank (the yellow house).  They needed to sell it in order to buy 931 N. Orchard in Burbank (the sage house).  The Orchard sellers would not accept our offer until Rose was in escrow.  Yikes!  So Jess and Sam (and their two little kids) worked their fannies off getting Rose ready over Thanksgiving weekend.  I had recently been in several multiple offer situations for buyers with houses of about the same size and price, so I contacted the other agents who also had clients for the multiple-offer deals to tell them about this house.  We had it sold before it officially went on the market the Monday after Thanksgiving.  Whew!

And then we opened escrow on Orchard.  Orchard is a very nice expansion/flip (coincidentally, I had brought an offer on it for other clients when it was a short sale earlier in the year). Of course, we had to compete with other offers, but it all worked out. Thanks, listing agent Desi Kepe, who worked with us throughout to make this happen.  But a really big shout-out to clients Jess and Sam, who performed above and beyond the call of client duty on both transactions.  I hope you're very happy in the new house, guys.

The year in real estate - part two

For those of you who can't get enough of year-end lists, here's part two of mine.  This will be more personal and have lots of love, plus a little dirt-dishing (you know you love it).

1.  More wonderful clients than ever.  This year, my relationships with many of my clients seemed to cross over from biz to friendship more often.  Sang and Anh, Jorge and Amy, Kara and Tom, I miss talking with you every day and am grateful that we've gotten to know each other.  Larry A, Frank H, Starr and Alex, Ryanne and Erich, David and Daniela, Mike and Hiroko, Ron S., Ryan and Misty, Sue and Mark, thanks for helping me love my job.

2.  More crazy people than ever, too.  What was it about real estate this year that made more people wacky? Are folks just nervous from the long recession? Either way, as I've said here before, either we need more drugs, or less, out here in real estate.

3.  More differences in Realtor skill sets and ethics.  Okay, there have always been differences, but this year the gap between good Realtor and bad Realtor seemed to grow.  Some of the lenders I met were no day at the beach, either. And on the subject, here's the dirt:

4.  I did a transaction with the most malicious Realtor in Studio City, Burbank, Sherman Oaks, Valley Village, Toluca Lake...maybe even the world. This Realtor was certainly the most awful person I've ever worked with.  No names or identifying details are mentioned here as I am sincerely afraid of retribution.  But this person was insulting to my clients and me, cancelled the appraisal twice which tipped us out of time frames, put the property back on the market during escrow for no reason, and tried to stop the closing at the last minute...for no reason.  I am suspicious about her relationship with her clients as well, but at this point it's a big 'ol WHATEVER.  My clients got the house they wanted, so at the end of the day, I suppose this person's maliciousness doesn't matter.

5.  I've been amazed and delighted by my brokerage, John Aaroe Group.  They continue to educate us and come up with new tools for us.  The management and staff are simply top-notch.

I hope all of your real estate plans go well in 2013. Onward!

San Fernando Valley real estate 2012 year in review - part one

I'm jumping on the end-of-year list bandwagon here.  If you real estate news in Studio City, Burbank, Sherman Oaks, Hollywood Hills or anywhere else in L.A. for that matter, here are the big news stories -- to me, anyway -- for the year.  You'll know most of these already.

1.  Return of the real estate market.  Thanks to the feds and the super-low interest rates, buyers are out in droves.  Unfortunately, housing stock hasn't kept up and everything is going in multiple offers.  I am hoping that we'll have more inventory coming on to the market as rising prices catch up to what would-be sellers owe on their houses.

2.  Cash is king, and there's a lot of it out there.  It's mind-boggling as to how many all-cash transactions are out there now.  Where is all the money coming from? Foreign countries (the U.S. is still looking like a safe bet to stash your cash), investor pools, and boomers who have recently inherited money from their recently deceased parents.

3.  Trusted brands -- can they be?  As we all know, internet-based real estate sites like Zillow and Redfin are the trusted brands in real estate these days.  That's not surprising as their websites are very user-friendly and contain a lot of information on each page.  And people believe what they read, especially from big sites.  But is the info accurate? Be skeptical, friends -- Zillow, especially, can be way off on their zestimates from what a value really is (and they admit it in the small print).  Actually working with Redfin can be a mixed bag but yes, it can be with non-Redfin agents too.

The next post will include my personal favorite and not-so favorite transactions and clients, so stay tuned!