I’m excited for our new listing at 5552 Edgewood! The Country English Home has charming storybook curb appeal with a front porch seating area covered by a pergola + so many vines, like a whimsical enchanted garden. I love the covered porch right in front of the bright red front door! The living and dining rooms both have high vaulted ceilings and so many windows that bring in so much natural light! There are 3 beds and 1.5 baths; the half bath is in the master bedroom that has French doors to the backyard. The yard is grassy, private, hedged, and has a new hot tub in it. This house is the perfect starter home in a super quiet, friendly, central location. I’m looking forward to our first showings today at our open house from 1-4!
There are buyers circling 3 of our listings that are newly reduced and priced to sell; all 3 are still available and open today. 2405 5th Ave is an unusually impeccable restoration of a 1913 historical Craftsman with the most beautiful kitchen and magical deck with twinkle lights in back. 612 N McCadden is a timeless, classic, high-end rare one story elegant upscale home with 4 beds + 3 baths on a beautiful tree-lined peaceful Hancock Park street. 1332 Belfast is a house with extraordinary views and large scale rooms flooded with sunshine. These houses are a treat to visit during open houses today.
We just reduced the price on our duplex listings at 531 N Poinsettia and 458 N Alta Vista. It’s been years since the price of properties like these were at this level. 1053 S Hudson is an unusual Craftsman duplex with a wrap-around porch both upstairs and down that can serve as both an investment and an owner user opportunity at the same time. Interest rates are supposed to go higher and the tax benefits of owning property are real; now may be an opportunity to lock in investment property tax benefits before the costs of financing go even higher in price.
Sellers with houses over 5M are smart to consider selling them before April 1, 2023. There’s an initiative on the upcoming ballot on November 8 called Measure ULA. If voted in by 50% of Los Angeles residents, it will add an additional transfer tax of 4% of the sales price to all houses sold for over 5M in Los Angeles. It applies to all single family, multi-family, and commercial real estate transfers over 5M. Right now, when houses sell in LA, no matter the sales price, escrow withholds from the seller’s proceeds (and remits to the government) $4.50 per $1000 for city tax and $1.10 per thousand for county tax. If Measure ULA passes, an additional 4% of the sales price will be collected and paid in a huge increased transfer tax, aimed at increasing housing for the homeless in our city. If voted in by 50% of Los Angeles resident voters, the measure would go into effect on April 1, 2023. Assuming Measure ULA gets passed, sellers who are considering to sell their house worth over 5M in the near future will save 4% of the sales price if they sell and close before April 1, 2023.
Newborn Princess Nechama made her way into the world this week and instantly melted our hearts. My Mom was known as Erika and her Hebrew name was Nechama; Baby Nechama has just one name and it’s after my Mom. My Mom lived always to exceptionally high standards and she would love that baby Nechama is named after her. Being opposites in personality type but similar in likes and interests, my Mom and I were a naturally good fit and I was extraordinarily close to my Mom. Ten years after her death, I still miss all that love and connection that came my way uniquely from my Mom. It was a surreal emotional moment for me to hold little Princess Nechama in my arms, to think of how fiercely my Mom and I loved each other, and to dare to hope and dream of passing all that love forward to my new little granddaughter, my Mom’s namesake.
Like my Mom, I live for the holidays and I miss the kids so much when the holidays end. My favorite parts of the holidays this year were the collaborative moments of families bonding and working together to create special moments and memories. For the first half of the holidays at home, I loved the moment in time when Mordechai and Dovid were examining Seth’s etrog, Avigail and Raizy were in the kitchen, Esti was decorating the Sukkah with Seth, and I was dancing with Baby Chaim. I loved all the time we spent at the table together with delicious home cooked food and lively conversation. For the second half of the holidays that I spent with my daughter in law, Chassi’s family, I loved gathering and arranging flowers for the Baby Celebration Party at their kitchen table, I loved how we shared all the cooking duties, I loved how Chassi’s baby brother asked if he could call me Grandma too (and then he did), and my favorite part of all was how Eliyahu had all his grandparents together in one home and he jumped from arms to arms surrounded by all the people who jointly love him most.
In addition to listing appointments and everything real estate, my favorite parts of life are family and love. I can’t wait for interest rates to come back down…and for the next set of Holidays!
Wishing everyone an awesome weekend and week ahead!