Come Back Soon🛫🛫-REAL ESTATE BLOG-

 

I’m super excited about our new listing at 606 N Martel!  The offering is an entirely reimagined designer remodeled ultra light + bright Single Story Bespoke Timeless Sophisticated Spanish primed for quintessential California indoor/outdoor living with 4 bedroom suites & sunshine everywhere in a central Miracle Mile location! The 3 en-suite bedrooms in the main house each have beautifully appointed designer bathrooms. The center hallway is flooded with natural light through the skylight and 2 full size glass exterior doors leading to the yard. The primary bedroom is en suite with double French doors to the yard, a large bathroom with double vanity + separate shower + tub + walk-in closet. There’s a 31 ft long pebble tech swimming pool with jacuzzi + water feature + new pool cover in a completely hedged private yard, that includes a hardscape deck for lounging and dining alongside an outdoor architectural fireplace. The newer construction 2021 ADU opens with double doors to the new driveway and has a full kitchen + en-suite bath with shower. The front of the house is graced with award worthy artistic landscaping that includes olive trees and succulents. The house is designer done and move-in ready with hardwood floors, central HVAC, new roof, CAT6 wiring throughout for Wifi, and security cameras. The location is amazing, close to The Grove, local shops and restaurants. The house is entirely reimagined in designer timeless taste, flooded with sunshine, and yet still has Spanish character in a prime Miracle Mile location!  I can’t wait to host the open house today 2-5!

 

I’m excited that our listing at 120 S Fuller is in escrow with multiple offers over the asking price.  It was super fun to prepare this house for sale.  I loved going on Amazon and choosing new light fixtures for the whole house.  I think the crowd favorite was the flush mount star ceiling light in the entry hallway and upstairs staircase hallway that had people thinking they might be original to the house. I loved the live trees we bought for the living room and dining room at Home Depot, and it was amazing that Domingo approached me at the register and volunteered to be hired to deliver the trees to the house.  My last favorite piece was the olive trees I bought at Moon Valley Nurseries and planted in the front planter boxes to grace the Spanish inner courtyard. The house has amazing original character and charm, and I’m super excited to watch it get brought into the 21st Century by the new owner!

 

We’re working on an interesting sale at 1015 N Martel in West Hollywood.  The property has been in the same family for generations.  It is in a prime West Hollywood location on a nice sized lot. One unit is vacant, and each of the 3 tenants in the other units are paying just under $500 a month.  The tenants have had those units in their family for around 50 years, during which they have enjoyed half a decade of their living space, which is home.  Obviously any new owner is going to wish for market rents and up-to-date condition.  The dynamic of owner vs tenant’s rights exists whenever an income property changes hands, but this is an extreme case where the tenants have enjoyed such a long tenancy and are paying such low rent, and the new owner is buying an investment property in a high interest rate environment.  We’re seeing a continuous trend of new purchasers exploring and initiating landlord/tenant relationships during escrow instead of post close and it’s an experience to be privy to these continuing high stakes interactions.

 

We have a buyer in escrow on a bank owned property that’s been on the market since May 2024.  I represented a lovely buyer in escrow on this house in June 2024 but we canceled because the bank wanted too high a price for the property given the condition.  (My buyer bought a different house at the time.) Nechama had a buyer in counteroffers to buy this house from the bank, but the bank actually decided to accept Nechama’s buyers offer way after it expired when it was too late.  According to the listing agent, my buyer is the 20th buyer to engage in offers and counteroffers with the bank and now the bank is finally ready to let the property go.  From personal experience, the bank held on to this property for one year with no benefit to them at all.  We see this often where sellers aren’t mentally and emotionally ready to face the actual fair market value of their property.  They say “we’re in no rush,” believing that waiting more time will mean selling for a higher price.  On the other side, when a property is on the market for a long time without selling, buyers often believe there must be “something wrong” with the property, when it’s actually a seller who isn’t mentally ready to let the property go.  In June 2024, my buyer did a full set of inspections on the property so 9 months later, our buyer was able to write a contingency free offer, having had the chance to study everything about the property’s condition before engaging with the seller, who was finally ready to sell.  The house is going to be great post remodel!

 

We have 2 great duplex units for rent coming up on Orange Ave – one on the 300 N block and one on the 400 N block.  We may be able to show both pre market!

 

I live for the holidays, and with the end of Passover, we’re already deeply missing all the people who flew away. It’s kind of crazy to live across the world from each other, and then to be so close, and again so far away.  I love snuggling in bed and reading books with all the kids. There was one night Rika didn’t want to sleep alone in a room in her crib, and sleeping in Grandma’s bed for the night was cozy and just right.  And the day we bought Gavriel a toothbrush on a shark stand at Kitson Kids on Robertson, and the obvious designated spot for his new toothbrush was in Grandma and Grandpa’s bathroom on Grandma’s perfume tray on the vanity. We found the best toys at the Lakeshore Leaning Store on Sepulveda, the best Passover confection was Raizy’s homemade almond butter cups, and the best entertainment was the son-in-laws’ singing with harmony.  Chaim adorably said daily he doesn’t want to ever fly away, and Rika said over and over that she’ll come back soon.  Thank goodness for houses to sell, work I love…and Eliyahu and Nechama coming back home tonight from spending Passover on the East Coast!

Wishing everyone a glorious warm week ahead!

Xoxoxo,

Sheri