CELEBRITY MOVES/LA MARKET NEWS

Wednesday is normally our Celebrity Moves day here. And this week the focus is on Frank Gehry, the celebrity architect recently labelled by Vanity Fair as “the most important architect of our age”. The long awaited Frank Gehry project, The Grand, breaks ground this month in DTLA with an expected completion date of 2021. Mr Gehry is world-renowned for his works of contemporary architecture. The Walt Disney Concert Hall right here in LA is one such example among other iconic structures that include 8 Spruce Street in Lower Manhattan and the titanium-clad Guggenheim Museum in Bilbao, Spain. You can be sure that the mixed-use residential, retail and entertainment complex on Grand Avenue in downtown will be one more great addition to the ever-more- interesting LA skyline. Click here to read more Continue reading

MARKET MATTERS – PART 2

Following up on yesterday’s post, here’s some good news from a new study conducted by ATTOM Data Solutions. Providing yet more support for the underlying financial strengths of the current real estate market, they report another significant increase in the number of homes in the US that are “equity rich”. Click here to read more Continue reading

MARKET MATTERS

You may have read my earlier posts in which I noted that despite the panic meddlers, the California real estate market is not poised for the kind of crash we experienced in 2008.  And I still hold to that.  Sure, we are likely to see a bit of a correction in the market.  Rising interest rates and the Trump tax revisions are surely having their effect with less activity, a pullback in price increases and homes sitting on the market for a bit longer.  But tighter regulations have resulted in far fewer problem loans and credit issues and low unemployment, a more diverse economy and increasing wages point to much stronger underlying financials than we experienced in 2008.  So stay calm…and buy a new home. Click here to read more Continue reading

MAPPING LA’S HISTORICAL HOMES

This one is for the architecture buffs.  Whether you’re a fan of the Craftsman style, Victorian homes, Spanish Colonial Revival or even mid-century modern you’ll find plenty of great historical homes all across Los Angeles.   This handy guide from LA Magazine will point you to the neighborhoods where you’ll find the best examples of your favorite style.  Click here to read more Continue reading

REAL ESTATE INVESTMENT STRATEGIES

Whether you are thinking about buying a home or investing in a commercial development project, in order to make smart strategic real estate investment decisions you need to dig in and do your homework.  A thorough understanding of where the market is today is essential to formulating a deal, but it is equally important to understand where the market is headed in the coming years to avoid making costly mistakes.   In our complicated and fast moving world it sure is comforting to have the experts at Forbes Real Estate Council to break through all the clutter and confusion to identify the key market trends that will drive the industry for the next few years.  Click here to read more Continue reading

PROPOSITION 10 DECONSTRUCTED: THE IMPACT AND EFFECTS OF RENT CONTROL

Tomorrow millions of voters across California will confirm their support or opposition of Prop 10, the controversial initiative that proposes to repeal Costra Hawkins and give cities the right to enact forms of rent control in order to address the shortage of affordable housing in California. But is Prop 10 the answer to affordable housing? The San Diego Union Tribune looks at the arguments for and against Prop 10 and concludes that rent control may actually do more harm than good. First, limiting rental income disincentivizes developers from building much needed housing. Without enough supply to meet demand the competition for available housing units will increase upward pressure on prices. That’s simple Economics 101. And while rent control may help some renters, the majority of renters are actually worse off due to the unintended result of the misallocation of housing. Then there is the final nail in the coffin of Prop 10..and it is a big one. It is not the right of the Government to tell individual single family home owners what they can charge if they choose to rent out their homes. When I go to the polls tomorrow I will be voting NO on Prop. 10. What about you? Click here for more info Continue reading

DESIGN TRENDS

It’s that time of year when design professionals begin to look ahead to the coming year, forecasting the key trends that will dominate interior design.  And what better place to begin than the kitchen, perhaps the most important design statement in any home.  Elle Décor’s  go-to designers share their predictions for what we can expect to see in kitchen design in 2019. Click here to read more Continue reading

CELEBRITY MOVES

Hollywood’s most celebrated leading man Robert Redford is selling the Napa Valley estate he has owned since 2004 for $7.5 million.  Located in picturesque St. Helena, the extraordinary property features a 5,225 sq. ft. manor house, a separate art studio, a workshop, detached garage, gym, pool and cabana on ten-plus acres surrounded by mountain and valley vistas. Click here to read more Continue reading

THE MOST EXPENSIVE HOME FOR SALE IN THE US

Chartwell, the Bel-Air estate owned by the late Univision billionaire A. Jerrold Perenchio has hit the market for a whopping $245million making it the most expensive home for sale in the US. Known to a generation of TV viewers as the Beverly Hillbillies mansion, the elegant 25,000 square foot French Neoclassical mansion sits on 10 acres with formal gardens, a tennis court, a 75 foot swimming pool and a guesthouse. Click here to read more Continue reading

MORTGAGE MONDAY: HOW WILL THE NEW RATE RISE HIT YOUR WALLET?

With mortgage rates rising above 5% as of the most recent Fed announcement, buyers (or potential buyers) seem to be taking a step back to re-evaluate. For some, that 5% mark is a psychological barrier to moving forward with a purchase. But it is important to remember; historically speaking it is still relatively low. Take, in comparison, the 12% rate I paid on my first property purchased in the 1980’s or the 18% my parents faced in the 1970’s. What matters most is the real impact is on your monthly payment and how that impacts affordability for you. CBS news breaks it out by the numbers…. Click here to read more Continue reading