Brookfield Releases Phase II Property Information

Brooksfield Homes, residential developer of Playa Vista Phase II recently released the first tangible information and interest list of what the coming phase homes may look like.  http://playavista.com/live-here/.  There are not too many details, but early indications are that there the units will be on the larger side (many 3+ bedrooms) …

Increasing Inventory Will Test Market Strength

Rapid price increases over the past 9 months in Playa Vista have brought a lot of would-be sellers off the fence in recent weeks.  The number of homes for sale in Playa Vista has gone from a low of 9 in February to 22 as of today.  Prices rising over …

Takeaways from Buyer Trends Panel

Last week I participated on a panel of agents from around North America at Keller Williams’ Family Reunion convention in Dallas.  Represented were an agent team from Ottawa, Ontario that closed over 300 transactions last year among nine agents.  Also on the panel were agents from Nashville and Chicago whose …

Phase II Housing and What it Means for You

We’ve known for some time that there is more housing coming to Playa Vista, East of the current development.  It’s only recently that it has been announced what some of the new home product will be.   The following (partial) list of properties expected to be built was taken from Playa Vista Today: …

Holidays to Start Early for Potential Playa Vista Sellers, Buyers: “Memo Not Received”

Having recently been through three multiple offer situations for one buyer client and finally securing the third and best property over the weekend, it is clear that this is not a healthy real estate market.  Sellers have not been in a position of power like this in 7 years and …

Supply and Demand Issues and Implications for Playa Vista Buyers and Sellers

The title of this post seems like the title for a dissertation.   There is certainly plenty to write on the subject, however this will be a synopsis of the issues as I realize this blog post is meant to be interesting as well as informative. As you may know, there was a …

Is Docusign Leading the Real Estate Comeback?

For the last two years or so, electronic signatures on real estate forms through platforms such as Docusign have gone from non-existent to fringe to the norm.  These forms are widely accepted for offer purposes and only in certain cases are denied by lenders, in which case, hand signatures must be …

Major Lenders Underwhelm in Customer Service

On two recent listings, I have been dismayed at the customer service of two major lenders that were obtaining financing on behalf of the buyer, the tweedle dumb and tweedle dumber of residential lending, Wells Fargo and Chase. On the Wells Fargo transaction, the buyer requested a 45 day escrow …

Interest Rates Need To Go Up

At this point the government has done all they can to stimulate housing and they have done a good job.  Financial incentives for buyers, encouraging banks and underwater homeowners to do short sales, refinances and principal reductions to prevent some foreclosures.  Great job, gov’t, but we need to take a step back and …

As Market Rebounds, Overpriced Listings Return

We are starting to see a resurgence of overpriced listings, not just in Playa Vista, but everywhere.   Back in the good ol’ days, (2000-2005), people would overprice their homes and buyer’s would get in line to pay.  Who could blame them?  It was what the market would bear.  Buyers who …

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