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Last year, one factor drove the real estate market more than any other: rising mortgage rates. 

Escape to your own stunning Spanish Oasis in the desert

ALL PHOTOS HERE

The process of buying a new home can be both exhilarating and exhausting. But the journey doesn’t stop when you close on your property. On the contrary, you still have quite a bit to do before you can begin the process of settling into your new place. 

Mortgage rates have been on a roller coaster ride this year, rising and falling amid inflationary pressures and economic uncertainty. And even the experts are divided when it comes to predicting where rates are headed next.1

You don't have to break the bank to celebrate the new year in style—even in this season of inflation. Prices may be higher on everything from food to gifts to decorations, but there are still plenty of opportunities to eke out extra savings. 

Deciding whether to jump into the housing market or rent instead is rarely an easy decision – especially if you’re a first-time homebuyer. But in today’s whirlwind market, you may find it particularly challenging to pinpoint the best time to start exploring homeownership.  

Over the past few years, a real estate buying frenzy bid up home prices to eye-popping amounts. However, as mortgage rates have risen, buyer demand has cooled. 1 Consequently, home sellers who enter the market today may need to reset their expectations.

This 1927 classic Spanish charmer may be the one. Inside, this upper south/west facing residence with clear views of the horizon and stunning LA sunsets has been impeccably renovated with design and function in mind. 

BRACE + BOLT  $3k credit,  SOS Supplies, Join CERT

Years of soaring home prices and sharply higher mortgage rates remain hurdles for many would-be home buyers, but new data show that they’re regaining some leverage at the negotiating table as the housing market slows.

An analysis of home sale data by Redfin shows that, on average, U.S. homes purchased during a four-week period in August sold for less than what sellers were asking. That hasn’t happened since at least March 2021, according to the real estate brokerage.

$3250 per month, 1 year min lease

According to the National Association of Realtors, staging a home prior to listing it can result in a faster and more profitable sale.1 In fact, the Real Estate Staging Association estimates that professionally staged properties spend 73 percent less time on the market, receive more foot traffic, and typically sell for more money.2

 Source: National Association of Realtors

(Sometimes advice will be different based on the region you live in!)

In our “bigger is better” culture, there’s an expectation that each home should be larger and grander than the last. But life changes like divorce, kids leaving for college, or even the simple act of growing older can prompt us to find a smaller home that better suits our shifting needs and lifestyle.

No matter what’s going on in the housing market, the process of selling a home can be challenging. Some sellers have a hard time saying goodbye to a treasured family residence. Others want to skip ahead to the fun of decorating and settling into a new place. Almost all sellers want to make the most money possible. 

The last two years caught many of us off guard—and not just because of the pandemic. They also ushered in the hottest housing market on record, with home prices rising nationally by nearly 19% in 2021, driven primarily by low mortgage rates and a major supply shortage.1

Multiple offers Over $200k OVER asking! More photos here.

Mediterranean Triplex Upper Unit for lease $4500 per month Video Walk Through

There’s a lot to consider when selling your home, from the market and appraisals to where you’ll go next. Don’t forget, however, that design is also a key factor. It’s often one of the first things buyers notice when they walk into a home, and it’s also a detail that you, as a seller, can easily control.

All photos here.

 Rare 3-bedroom corner Penthouse condo in prime Studio City neighborhood.

1948 Mid-century Pied-De-Terre tucked away on a quiet winding road off Beachwood Canyon. 

2513 VERBENA DR LOS ANGELES, CA. 90068

Sold over asking in multiples

Single Family + ADU listed at $1,249,000

3 bed, 2 bath townhome with outdoor space! Buyers wrote on multiple homes and finally won a bidding war on this great condo. 17711 Margate ST #3 ENCINO CA 91316 

2027 N Curson sold at the end of 2021. $1,250,000. It was a rocky transaction due to the buyer's financing, but everyone was patient and both sides were happy!

4219 Rosario Rd
WOODLAND HILLS CA 91364 $1,305,000

Gorgeous Modern Architecture only minutes to just about everything yet feels like you're away from it all, 

After a year on the market (it's complicated!) we finally found the right buyer who will make this Grand Dame a beauty once again! Find me on Instagram @eileenlanzarealestate for updates!!

Old photos here!

$2,125,000

Sold with multiple offers. $1,695,000  

Sold with multiple offers! $1,250,000

Refreshed! Come take a look while owner is still improving the home! For Sale 1919 Traditional in Windsor Square with garage and guest studio above garage. 5 beds 4.5 baths. $2,499,000.  Good bones and needs TLC. Kitchen and one bedroom updated in 2019. Lot size 6835.

Classic 2-Story Windsor Square Traditional on tree-lined block close distance to Larchmont Village. Authentic period details combined w/ modern elements make this a wonderful home. Beautiful woodwork & hardwood floors frame the entryway & lead to the formal living room w/ fireplace. Gracious formal dining room & adjoining family room w/ french doors to the grassy back yard. Gourmet kitchen w/ loads of cabinet space, granite counters, stainless steel appliances & cozy breakfast room. Newly remodeled bedroom & 3/4 bath downstairs complete the lower level w/separate entrance. Upstairs has 4 bedrooms & 3 baths including a light-filled master suite w/ huge closets, master bath, fireplace & large outdoor porch. Outdoor space includes an entertainer’s patio, flat grassy yard w/ room for a pool & Persimmon, Lime & Pomegranate trees. Fabulous detached studio w/half bath above 2-car detached garage makes a wonderful in-law suite or ADU. Excellent opportunity within the Windsor Square HPOZ.

ALL PHOTOS HERE

3D TOUR HERE

VIDEO HERE 

This is a lot of home for the money! Home has a great layout and works well for many situations – especially in lockdown! 4 great sized bedrooms up – private bedroom suite down with private entrance if needed for guests or an office. Studio above garage works well for an office, guests, possible rental.

Come see it with me!

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Convenient to Paramount Studios (1 block), Larchmont Village & Melrose shopping & dining. Best house on the block! Approx. 1300 sq. ft. Great neighborhood, easy parking, feels like a home not an apt. Hardwood floors, decorative fireplace, french doors, newer kitchen, balcony, patio. Bed and full bath upstairs. Non-smoking building. NO pets. NO EV car charger on site. Easy street permit parking. Great credit a must. Serious inquiries only. Email contact is best. Will show with a partial application completed and proof of funds and employment. Following CDC guidelines for showings. Owner has RE license and lives next door. Owner pays gardener. Again, no pets.

$2995 per month, $3600 security. One year+ lease.

Once you submit an application, we will set up a showing following CDC guidelines.  If interested, you will complete a full application and credit check via Zumper. THANK YOU!  

contact:

EileenLanza@me.com   323.810.7935. Photos are from 2018. Some newer windows were added, a wall AC and refinished counters since then.

Older photos vacant:

ZILLOW LINK​

VIDEO WALK THROUGH

Last Saturday, I attended a live auction on the driveway of a little Larchmont home. The place was packed with bidders and spectators. The bidding goes very quickly and a neighbor ended up being the highest bidder at $1,210,000. He is now on to probate court in about 45 days to confirm the sale. Overbidders are welcome with bids starting at $1,260,500 and will go up in increments set by the judge. (I bought my house in probate court!) Some photos from the MLS. Home was originally listed at $825k (too low) and the owner died in the home.

This was my favorite on caravan this week. I loved most of the finishes and there is a massive basement ready for anything! $2,979,000 and 4150 sf 4 beds, 5 baths 6759 lot. VERY nice street!

I saw 3 homes today in the Hollywood Hills and all 3 had a unit that could be rented for extra income! Please let me know if you want more info or to view. 1st one is the best value, imo.

TICs are new to the Los Angeles market. They are popular in San Fran. Contact me for a current list.

What is TIC?

TIC (or Tenants-in-Common) refers to a property that is owned by two or more people. Much like a condo, the TIC agreement defines what percentage (unit) of the property each person owns. TICs have an HOA and owners share the costs of common utilities and up-keep. TICs tend to be a more affordable way to purchase a home in urban areas. Generally, they are in the entry-level price range, allowing first-time buyers an opportunity to own their home. No right of survivorship.

How is TIC different than a condo?

TICs are very similar to condos. Each tenant has decision-making power over their unit, but all tenants make decisions together concerning the shared spaces and building as a whole. The differences arise with the building of the agreement and with financing. The "agreement" or contract substitutes for an individual "property deed" and condominium by-laws. The TIC agreement protects the owners of the property, defines how bills will be paid and the property is maintained, and specifies how unforeseen events will be handled. The TICs have an unrecorded agreement which every owner has signed. You will receive ONE property tax bill for the entire building.

How are TICs financed?

Since all tenants are part owners of the building, TICs require specific loans. In the past, Group TIC Loans were standard. The co-owners would have to qualify for a loan collectively as a group. But now, Individual TIC Loans for fractional ownership are becoming more popular. Pioneered by Sterling Bank in San Francisco these loans allow each TIC buyer to qualify independently and sign an individual note which is secured by a deed of trust covering only that owner’s share. Unlike with group financing, none of the other TIC owners are affected by the default or foreclosure of one unit. TIC loans can be .5% higher than buying a condo, you may have to put more money down and underwriting is tougher.

Want more information on how to get pre-approved for a TIC loan? Only a handful of banks are financing for now.

MORE INFO HERE.

Open Houses this weekend in Hancock Park. Contact me for a mapped version or a different area!

Taxes done? Time for Spring Cleaning? Love Marie Kondo? Join me for the free PAPER SHREDDING event on Saturday, April 27 from 10am – 12 noon in Mid-Wilshire. Bring your boxes and enjoy a cup of coffee and a donut!  Please RSVP to me directly and limit your boxes to 3 with no trash. If you can’t attend but still want to shred, I may be able to arrange a pick up on 4/26 near Larchmont – contact me!  Eventbright link for tickets.

Would you like to tour it? Loved this house when viewing Jefferson Park Open Houses! They did a really good quality job with some trendy fun finishing touches. Contact me to see all the professional photos. Neighborhood is up + coming.

I was invited by a client/friend to be on a new podcast she was producing called How To Home. I was honored to be one of their first guests. We briefly discussed the topic and I checked in with a few Realtor friends to make sure my thoughts were in line with what we are seeing in today’s market. This episode addresses prepping a home for sale and return on investment. Please listen or watch, share and leave a review. THANK YOU!

These were my 2 favorite homes in the Hollywood Hills/ Beachwood Canyon area this week. They are right next door to each other and both awesome homes but very different in feel. decor, size and price. Contact me for more photos or to view the homes!

Great home in gated Fremont Place in Hancock Park Area.   

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If you are looking for something unique to do with your kids, check out LA CoMotion! Our family went last year and LOVED trying all types of cool transportation.​

Twice a year, LA shuts down miles of our city so anyone and everyone can get out and exlore the city by bike. This one happed to pass near our house with a huge HUB at Paramount Studios – including arts + crafts, food trucks, bike repair stations and more.

2 beds 2.5 baths +  2 bonus room at almost 1800 sq ft!