Words of Wisdom From a Real Estate Legend
Last week I learned of the death of Stan Ross, the former chairman of the USC real estate program whom I looked up to. We were not close and did not even know each other well, but we met briefly a few times during my year getting my masters degree in real estate development and I listened …
A Bidding War is Not a War
Over the past few years in what could be considered a seller’s market in most areas, including Playa Vista, many properties for sale have generated offers from multiple buyers. Some call this a “bidding war” and some buyers want to avoid this situation. It is important to remind people that …
Buyers Becoming More Selective in Playa Vista Market
After the dearth of inventory in the 4th quarter and the trickle of listings that got quickly gobbled up in the early months of 2018, supply has begun to normalize. Inventory for condos and single family homes stands at 19, which includes one listing currently under construction at Seabluff. These …
The Effect of Rising Interest Rates on the Playa Vista Market
This week the federal reserve raised the Fed Funds interest rate by a quarter point (.25%) for the sixth time since the financial crisis. They signaled that they expect to raise rates another two times this year and three times next year. The Fed Funds rate is the rate at …
How Did We Get Here? DocuSign Theory Revisited
While pondering life and best strategies to get an offer accepted in 2018 when there are often between 10-15 offers on every property my clients want to buy, I began to wonder “how did we get here”? Things didn’t used to be like this. The market has been gradually getting more competitive for …
The Downsides of Working With Real Estate Agent Teams
Over the past few years, there has been a growing trend toward real estate agent teams. These groups range in size from 4 or 5 people up to 20 or more. Some team members are agents, some admin staff, some marketing, etc.. Usually these teams are led by one or two top producers in …
Would You Accept Cryptocurrency for the Sale of Your Home?
The rise in value of Bitcoin and other cryptocurrencies has been a hot topic lately. Some real estate brokers are even offering “Accepting Bitcoin” as a sales and marketing gimmick to move listings. Call me old fashioned, but I do not think doing so, or doing so without strong caveats, …
Seabluff Flats Sales Registration Begins Tuesday
Seabluff Flats, the long-awaited condo project by The New Home Company, being built on the site of the former farmers market parking lot is beginning priority sales registration on Tuesday, January 9th at 10:00 AM. Playa Vista dot com states that units are being offered “from the low $1 Millions” with …
Entry-Level Inventory Coming Soon
Has it been 15 years already? Beginning this April, homeowners who purchased Controlled Price Units (CPU’s) will no longer be bound by maximum resale price restrictions and will be able to start selling these properties for market value. For over 100 units with an original sale date in 2003, the lifting of this …
Why January is a Great Time for Sellers and Challenging for Buyers
If you’re a buyer looking to lock up a new place early this year, sorry, I don’t have good news. January has typically been a great month to put a property on the market. As a listing agent, my listing might be the only game in town, so I can usually count …