I’m excited for Oliver’s new listing at 5007 Morrison Court in the Prime Walkable North Hollywood Arts District! The house was built in 2019 and it was meticulously maintained by its one owner. There are 3 levels of living space, a true cook’s kitchen with an oversized island + stone counters, wide plank oak floors, green technology, and custom tile work. There are 3 en-suite bedrooms and a spacious private roof deck with a natural gas grill and expansive city lights + sunset + mountain views. The driveway is gated and there’s a 2 car garage with a Tesla charger and a door right into the house. The vertical home is stylish, chic, and in move-right-in condition. I’m excited for the open houses today 12-2 and Tuesday 11-2.
I’m super excited for our good friends/third time repeat clients who closed this week on their purchase of 1843 S Bedford. The seller bought the house for 1,935,000 May 2022 as a “rare development opportunity.” The seller remodeled the whole 1959 sq ft house. Our buyer closed on the fully remodeled house this week for 2,025,000. The house currently has 4 beautiful bedrooms, including a generous primary suite, a handsome spacious all new light filled kitchen, sun drenched living and dining rooms, and a gated grassy backyard. Inspections uncovered super high quality work in the remodel and a house now in extremely good shape. Our buyers scored a good property at a good price and I wish them the world of happiness in their new home!
I’m super excited for another favorite buyer (also third time repeat clients and a couple who has been contemplating a move to the westside for years) on removing contingencies on a really great house in a beautiful spot in the Palisades; the seller accommodated an April 1 close of escrow date! Berel is representing another good friend/past client (also a couple who has been contemplating a move to a larger house for years) on opening escrow on a house that’s uniquely perfect for their family; the seller is carrying 75% for the next 2 years! David opened escrow this week with a buyer who found a house they absolutely love. Bryan opened escrow on Friday with a buyer whose accepted offer includes a 50,000 rate buy down by the seller so that the interest rate on the buyer’s loan is significantly lowered. Nechama is representing a buyer who chose to buy a fixer so that he could get a big house for a low price per square foot. Citibank’s email on Friday quoted 6.375% for a 30 year fixed before any relationship discounts, and 6.125% for a 10 year ARM. Predictions are mostly that interest rates will fall over the next 2 years, the real estate market will react to lower interest rates with more activity, and there will be more houses for sale and more buyers looking to buy them. Buyers who are choosing to buy now are expressing confidence that buying now at a lower price (and attractive seller incentives!) will ultimately mean an even better deal when they refinance and lower their interest rate and prices go higher as the market bounces back.
It’s interesting to observe that pretty much every time a buyer is about to buy a house, even with seller incentives and some level of confidence that both the deal and the house are great, there’s a moment of fear and worry about the decision and if it’s guaranteed to be a good one. Any time we make any decision that will have far reaching consequences and impact well into the future we’re naturally going to think hard before we move forward with it. Same for any decision that’s financially significant. The nature of a real estate purchase is such that some level of fear and worry is a natural and unavoidable part of the process. There’s no way to get to the finish line and to own that new house without the moment of worry and fear. As anyone who owns property knows, at some point, there’s deep satisfaction and happiness that comes from purchasing real estate, especially when buyers buy right and the property appreciates and grows their wealth. Our team is especially enjoying guiding buyers through the home buying process right now and we know our buyers are going to be inordinately happy in the future with their strategic and smart purchases.
It was the world’s greatest treat that Yakov+Chassi+Eliyahu+Nechama and Dovid+Avigail+Chaim came to visit for the Hanukkah weekend! I show my love with food (and I really love them) so I had to make lots and lots of food! Everyone’s favorite is homemade sourdough bagels + ciabatta + crispy bread! The kids loved My Mom’s recipe for Carrot Dreidel Cake (iced by Esti just the way My Mom did it) and Raizy’s recipe for S’mores Pie! I made Chassi’s favorite Tomahawk Steak, Dovid’s favorite Milanese Veal Chops, Avigail’s favorite Ottolenghi colorful carrot salad, Yakov’s favorite Short Ribs, and Seth’s favorite Asian Hot Pot Soup. It was so fun to jump with Eliyahu on a moonbounce, to go for walks finding the cutest dogs and watching lots of garbage trucks, to share Eliyahu’s Mint Chocolate Chip Ice Cream with Chocolate Sprinkles and to treat Chaim to his very first full ice cream scoop with colorful sprinkles, and to experience Chaim learning to walk (with big sloppy smiles!) My very favorite part of the kids visiting is all the hugs and kisses! Wishing everyone holidays filled with lots and lots and lots of hugs and kisses!
Xoxoxoxo,
Sheri
