Two-bedroom condos priced in the $650,000 range have been selling fairly briskly in Westwood. Maybe that’s why Kris Benveniste, the agent on this newly listed Westwood condo, at 1927 Glendon Ave., #301, is so confident. HIs listing description includes this bold statement: PRICED TO SELL & WILL NOT BE LOOKING AT ANY OFFERS BELOW ASKING UNTIL 11/3/2008 IF STILL… Read More
To sell in this market, it’s all about the price. This one-bedroom, one-bath, 824-square-foot unit at 12203 Texas Ave., #4, in West L.A. came on the market in August for $459,000. When it didn’t sell, the owner and the agent began slashing the price: first to $429,000, then to $399,000, and again to its current $359,000. Agent Melyssa Peters reports… Read More
The one-bedroom condos at the mid-century complex at 525 S. Sycamore Avenue, near Hancock Park, sold for close to $400,000 at the peak of the market, but not anymore. Today, the units are fetching around $300,000, so some owners are facing short sales. Here’s a unit in the building that came on the market three weeks ago… Read More
This two-bedroom, 1.75-bath, 1,000-square-foot condo at 1342 N. Sierra Bonita Ave. has been on the market for the better part of a year, but don’t expect it to stay there much longer. Why? Because its owner has just reduced it to the magical “under $500K” price of $499,000. It’s in a nice-looking, 10-unit building: The seller,… Read More
This weekend I visited this listing at 1029 N. Vista Ave., Unit 101, in West Hollywood. Here’s the exterior: There are five units, all brand-new. Unit 101 is a two-bedroom, three-bath with 2,000 square feet. The agent, Ron Goldhammer, says he has three offers pending on two units. He also points out that the townhomes… Read More
The last time we looked in on condo sales in Westwood ZIP code 90024, in mid-May, things were a bit soft. At that point, there had been only 21 condos sold in the past three months, compared to 191 that were on the market. But how things have changed. In the last three months, 67… Read More
A thought-provoking report from the Los Angeles Business Council, the Workforce Housing Scorecard, sums up what anyone who lives here already knows: A woeful lack of workforce housing in major employment centers in Southern California, combined with poor public transit options in the region, severely undermines the competitiveness of Los Angeles County employers by driving… Read More
Just when I was wondering what to write about today, Brian Scully, VP of Marketing for my favorite real-estate data site (besides Redfin, of course), Property Shark, sent a gift: a list of foreclosure resales for the month of July in Los Angeles County. Note that these are foreclosure resales, meaning that they were sold… Read More
Candy Spelling’s decision to “downsize” from her 56,500-foot Holmby Hills estate to a new, two-story penthouse condo in The Century, the luxury-condo high-rise under construction in Century City, has piqued the interest of The New York Times. Its story, “Downsizing in Los Angeles,” wonders if condo living is becoming a trend among well-off Angelinos seeking… Read More
Not long ago, we heard that Ed McMahon was close to losing his Beverly Hills mansion to foreclosure. Somehow, this 85-year-old man who was once reputed to be worth $200 million was unable to make the payments on his house. His agent blamed the problem on a neck injury that rendered him unable to… Read More