Wow – these are some backyard goals to attain!! Huge lot…Big views…Warm spa and a well trained plant on a beautiful trellis – all this plus a great patio right off the great room!
Welcome to our new listing – all this can be yours! Come see it next week! We will have this spacious home complete with 5 bedrooms / 3.5 bathrooms and approximately 2478 Sq Ft open Thursday, March 28th from 12-2pm; Saturday, March 30th from 1-4pm and again Sunday, March 31st from 1-4pm. You’re gonna love the newly updated great room – it’s got such a cool and beachy vibe!
Backyard BBQ’s and play dates will be popular in this sunny back yard! South Bay living at its finest!
Plus you can participate in the action from this great room that overlooks the backyard!
I just wanted to share some really great info direct from our Los Angeles County Assessor, Jeffrey Prang regarding the latest Assessment Roll and what it means for the housing market in Los Angeles County. Spoiler Alert: There’s a lot of good news!
NEWS from JEFFREY PRANG LOS ANGELES COUNTY ASSESSOR FOR IMMEDIATE RELEASE CONTACT: Robert Kalonian (213) 974-3101 July 27, 2018 firstname.lastname@example.org Assessor Prang Releases 2018 Assessment Roll; Data Reveals Strong Real Estate Market, Business Sector Optimism, Record Tax Savings LOS ANGELES, CA – Los Angeles County Assessor Jeff Prang has certified the 2018 Assessment Roll, which indicates growth in real estate and business property values and record-setting savings for homeowners, nonprofits, and faith-based organizations. The roll value of $1.57 trillion (gross) and the $80 billion in business property have set new highs for the county, as have tax-saving exemptions, which topped $59.8 billion. “Los Angeles County’s economic base is strong and continues to be on an upswing,” Assessor Prang announced. “The appreciation of real estate for the 8th consecutive year, coupled with optimism in the business sector, means additional resources will be available for education, public safety, firefighting efforts, health services, and transportation.” The leading indicators in the roll’s increase are: a) sales and other transfers of real estate, which added $47.6 billion as compared to 2017, and b) new construction, which added another $11 billion. The combination of these and other factors yielded a net increase of 6.62% – the greatest growth in values since prior to the 2008 recession. However, the Assessor also emphasized that the average growth in assessed values across the county does not mean property owners will be subject to a corresponding increase of 6.62% on their property tax bills. Existing homeowners will see only the standard 2% annual adjustment for inflation, pursuant to protections set out by Prop. 13. Assessor Prang’s proactive efforts to promote savings for seniors, veterans, disaster victims, and homeowners has resulted in record-setting tax reductions. This year, over 1 million will claim the Homeowner Exemption, and a record number of veterans will save through the Disabled Veteran Exemption – a total of $7.74 billion that will be exempt from taxation, saving $77 million. Likewise, non-profit, community service, and faith-based institutions will see a record $52 billion in exemptions, producing $521 million in savings. Another indicator of the growing economy and business optimism is the record-setting $4.53 billion (or, 5.9%) increase in business personal property. This reflects record growth in investment in equipment and technology as well as marine vessels and aircraft. The resulting $80 billion in business property is another new high for Los Angeles County. The 2018 Assessment Roll comprises 2.57 million real estate parcels and business assessments, including 1,874,588 single-family residences, 249,660 residential-income properties, 248,198 commercial/industrial properties, and 205,204 business properties. In his announcement, Assessor Prang concluded, “I want to thank my team for their diligent efforts to ensure fair and accurate assessments, which serve as a foundation for vital local public services that will directly benefit Los Angeles County’s residents and businesses and improve quality of life in our neighborhoods.”
For more information on this beautiful home – see the article by Zillow – here
Hollywood Riviera Real Estate Report February 2017 – There is still very little inventory here in the Hollywood Riviera neighborhood. Currently there are 10 single family homes for sale and no condos or townhouses. While there are approximately 3100 homes here in the area, only 10 for sale. Now that’s a serious shortage of inventory. Here’s the link to the 10 properties currently for sale here in the Hollywood Riviera. The least expensive home for sale is $875,000 on Janet Lane – which is in the 90505 zip code and pretty close in proximity to Pacific Coast Highway with a large commercial property in the rear of the property, thus the low price. On the other end of the spectrum, we have the $16,000,000 home for sale on Paseo de la Playa in the 90277. It sits on the bluff right above Torrance Beach and has an amazing view! Other than that the homes that are in the middle of those range from $1,250,000 to $2,749,000. This is quite a range for such a small number of homes for sale.
This lack of inventory is not for a lack of trying as evidenced by the 12 single family properties that are currently under contract/pending sale. Of those 12, the least expensive home in escrow was listed for $949,000 and had 1740 sq ft on a nice cul de sac and the rear of the home and backyard also had a nice ocean view. The house was located on the 90505 side of the Riviera and did need some updating, but had amazing potential if you asked me. I am betting that it sold over that list price since it went under contract in 5 days. The most expensive home under contract is pending at a list price of $2,699,000. The word on the street is that it sold for asking price and since it went under contract within 15 days of being listed that is most likely true. It was a fabulous remodel done with amazing attention to detail and clearly no expense spared. It had a beautiful panoramic view and a pool and yard…very nice home!!
Since January 1st, 2017 – 16 single family homes and 1 condo have sold so far. The least expensive single family home sold price for 2017 so far was $930,000 for a home on Mesa Street/90505. The condo sold for $720,000 and it was listed for $699,900 originally, again, sold over asking, which has been indicative of this market when homes are priced competitively to start with. The most expensive home Sold so far this year here in the Hollywood Riviera sold for $2,529,000. It was also a gorgeous coastal style remodel with ocean views on the 90277 side of the Riviera. Here’s a photo to entice you.
If you’re interested in learning more about the homes for sale here in the Hollywood Riviera, give us a call anytime! Sincerely, Kelly & Laura (310) 613-2465