Buyer Loyalty is a Two-Way Street
In my 9 years as a broker, my database has not always been flush with clients. Starting out in early 2006 was challenging since it takes time for seeds to grow. Being new to town and looking much younger than my age of 26 did not help. Just as I started …
Disclosures to Buyers Reduced as Lenders Ask for More and More
It has become the expectation in a residential real estate transaction that the seller of a property in a standard sale should notify buyers of all known material facts about their property. While there is often plausible deniability as to what is “known” and differences in opinion as to what is …
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 …
HOA Dues and Buyer Perception of Value
It is no secret that Playa Vista has higher than average HOA dues for Los Angeles with combined dues ranging from high $400’s/month to low $1,000’s/month. While you tend to get what you pay for, this added cost, which people argue is not tax deductible, clearly has an effect on buyer …
Two New 2 Bedroom Listings
With the stronger market, two new homes were listed today as STANDARD sales. Incidentally, both are unit #103. A year ago, I believe these may have been listed in the $400’s or not listed at all, but with the new higher prices, we have a little bit of decent inventory: Villa …
Retail Center for Phase II Moving Forward
The California Supreme Court recently declined to hear the legal challenge to the 111-acre Village at Playa Vista, paving the way for a central shopping area providing for wide ranging services such as grocery shopping, pharmacy, restaurants, and a movie theater that the area has lacked. This commercial element had been in the works for years …
Recent Trends in Buyer Demand in Playa Vista – A Plea to Developers of Phase II
In the last few months, I have noticed a few things about buyer demand trends in Playa Vista: – 2 bedroom units under $450,000 are scorching, even smaller ones. – 1 bedrooms are less in demand than previously, probably due to the large drop in prices for small 2 bedroom …