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Los Angeles real estate Blog

Millennial home-buying and gift funds

Solutions Exist for the Home Buying Challenges Millennials Face

Gene Mundt, a Chicago mortgage originator advises on ways Millennials may be able to buy their first home. There are ways, and warnings…..   Are You a Millennial Hoping to Buy a Home? Solutions Exist to Address the Challenges You Face     It’s no secret …     Today’s younger generation is finding it much more challenging to buy a home than their parents …

Wilshire Corridor condo market 3rd Qtr 2019

Wilshire Corridor Condos Market Report 3rd Quarter 2019

The luxury real estate market in Los Angeles is slowing down. How is the Wilshire Corridor condo market doing? Let's look at sales over the 3rd Quarter 2019. 1200 Club View Drive – Beverly West (Not all sales are reported through the MLS) Number sold: 0 Currently Active: 8 - Average price $8,821,000 2018 - 2 sold - average price $9,375,000 865-875 Comstock Ave. ...
How does the Federal Reserve affect mortgagte rates

How Financing Options are Affected by the Rise & Fall of Federal Reserve Interest Rates

Gene Mundt, Chicago Mortgage Originator provides an excellent overview of how the Federal Reserve’s interest rates affect your finances, specifically as it relates to mortgages: My phone is ringing off the hook these days … The latest move by the Federal Reserve has garnered lots of attention and piqued the interest of many.  Many of my callers are wondering: Have mortgage interest rates fallen? If so, …

Los Angeles real estate 2nd Qtr 2019

Los Angeles Real Estate Single Family Home Sales 2nd Qtr 2019

Let’s take a look at how the single family home market in selected ares of Los Angeles fared in the 2nd Quarter of 2019 compared with the same period of 2018 by median price. Data provided by MLS deemed accurate but not guaranteed Of note: the Downtown area Los Los Angeles is mainly a condo market., Atwater Village, the less expensive neighborhood adjoining Los …

things to consider when downsizing our home

Things to Consider When Downsizing and Buying a Condo in Los Angeles

You have decided to downsize from a large home which has become too much to maintain or you simply have way more room than you need, and you are thinking of buying a condo in Los Angeles. You may be a local and know the layout of the land or you may be moving here from out of town or out of state.   …

New FHA changes for condo loans

FHA Changes to Condo Guidelines. Why They Matter

Gene Mundt, a Chicago mortgage lender talks about the new FHA changes re obtaining an FHA loan for condos. FHA (Federal Housing Administration) has announced that it is issuing new guidelines for Condominiums and Condominiums projects.  The new guidelines will take effect as of October 15, 2019. While the new rules extend the time period for FHA Certifications on condominium developments from 2 to 3 years …

Century City condo half yearly market report 2019

Century City Condos Half Yearly Market Report 2019

How did the  Century City condo market do during the first half of 2019? Let’s take a look. Century Hill Sold: 1 Price: $1,250,000 Price per sq. ft: $627 Homeowners dues: $1,645 to $2,295 There are currently 6 active listings. Century Hill is in a strong buyers’ market. Century Towers Sold: 6 Average price: $1,614,166 – 33% increase over same period 2018 Average price …

Santa Monica real estate market report June 2019

Santa Monica Real Estate Market Report June 2019

This is a Santa Monica real estate market update for June 2019. Compare the stats to the previous two years. Number Sold Median Sold Price Active Listings Months Supply of Inventory Less than 5 months = sellers’ market | 5 to 7 months = stable market | Over 7 months = buyers’ market Based on the months supply of inventory in Santa Monica the …

Wilshire Corridor condos half-yearly market report June 2019

Wilshire Corridor Condos Half-Yearly Market Report June 2019

Let's see how the Wilshire Corridor condo market did in the first half of 2019 as compared to the same period the previous year. 1200 Club View Drive – Beverly West (Not all sales are reported through the MLS) Number sold: 0 865-875 Comstock Ave. – The Comstock Number Sold: 4 Average price: $1,112,125 Average price per sq. ft: $614 Average price change: -9%% ...
All cash buyers and overpriced listings. What to do

All Cash Buyers and Overpriced Listings

If you are an all-cash buyer purchasing a home you stand a pretty good chance of being the front runner in a  bidding war. In the crazy multi-offer days of the past few years cash was king. Home sellers look favorably on the all-cash offer as long as the terms and conditions are reasonable. However, the home buying competition has forced prices up in …

Los Angeles real estate May 20198

How is the Los Angeles Real Estate Market? – May 2019

Let’s check in on selected areas of the Los Angeles real estate market for May 2019.   Sales of Los Angeles single family homes are down in all categories compared with the same period over the past two years. Below are some stats for selected areas. Single Family Median Sales Price Area May 2018 May 2019 April 2019 Beverly Hills $5,685,000 $5,200,000 $9,325,000 Beverly …

Is looking for homes for sale online the best use of your time?

Finding Homes For Sale Online. Is That The Best Use of Your Time?

In this internet-driven society we are almost always drawn to look online when making a purchase, either to check out pricing to get the best deal or to actually buy. We don’t have to run around different stores, carry heavy items home, or worry about not finding exactly what we want. Buying online is convenient. Can the same be said for home buying? It …

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