The hottest properties in L.A cost 500 – 700k

The real estate market is so happening in the 500k – 700k range – it’s astounding! We had a listing this year in Brentwood around the 2m mark – gorgeous contemporary house and we would get about 80 – 85 hits per week on the listingbook site (which is basically an extension of the mls with tons of functionality). Our current listing is a short sale in West LA on National Blvd. It’s a really good house that needs cosmetic updating but has a great floor plan and really good space. It’s listed at 675k and we get about 425 hits per week on the same website. So far we have received 4 offers on the property. It’s a short sale so the initial accepted offer may or may not be the ultimate owner of the house. More on that next week – we’ll talk about our short sale experience. But back to the point, the amount of buyers in this entry level price range is creating an incredible demand and propping prices up. A large percentage of homes priced in the 600’s are getting multiple offers these days. Today we saw some good ones on Caravan and we’ll explain briefly.
4083 Bledsoe in Culver City is listed at 659k. It’s been on the market for 5 days and it has 3 offers already. (Seems like old times.) The house has an unconventional floor plan, but it’s clean and cute, has good space and it’s on a nice street.
5045 Pickford in Culver City is listed at 658k. It’s a 2 + 1 that’s around 1000 square feet, but the house has great bones and some architectural charm. It’s in a fantastic neighborhood right near Lindberg Park and walking distance from great shopping, public library, etc. It’s been on the market for 9 days and they were expecting an offer today.
6373 W. 84th St. in Westchester listed at 650k is adorable, beautiful, tasteful and charming. It’s also 2 + 1 around 1000 square feet but on a large lot with room to ultimately expand the house. Today was the first day that one was shown. It will sell right away.
If you need more information about these homes or about Los Angeles real estate call or e-mail The Savvy Duo.

Only one great deal this week – Mid-Century fixer in Brentwood

It was a disappointing caravan this week. Everything we saw (Brentwood, Westwood and Mar Vista) felt over-priced. But we chose to have a positive blog and not trash other peoples’ homes. After all, everything looks good at the right price so really there are no homes to trash, only pricing strategies.

So, that said, the only well priced property we saw this week was 1436 Alllenford Ave. Ok, it’s on Allenford, a busy street and yes it’s next to Paul Revere Middle School. However, you don’t see the school at all from the property and you do not hear the street from inside the house or from the backyard. The house is over 2300 square feet and the lot is over 14k. It’s not all flat, but a significant portion is and there is room to install a pool. The house is an original mid-century modern built in ’54. The floorplan is excellent. There is lots of glass in the common rooms and everything is oriented to the backyard. The kitchen is open and has an eating area. It’s a one story house that’s calling out for remodeling. It has potential to be the hippest of the hip. It’s priced at $1,299,000. It’s not so easy to sell a house on a busier street, so this house may be obtainable under list price. For anyone who appreciates mid-century and wants to create something really cool – this is a great bet.

If you’re interested in this property, or other homes on the westside of Los Angeles, call The Savvy Duo.

Deals on homes – Brentwood & Beverlywood

After a brief hiatus, our caravan review is back. There is a great piece of property for sale in Brentwood and we think the price is right for all it has to offer. It’s located at 250 S. Canyon View, which is one of our favorite streets in Brentwood. You really connect with nature there and don’t feel like you’re in the city at all. But the best thing is that you really are smack in the middle of everything there. This property is on over 21k square feet of land and the house is over 3200 sq. ft with a guest house. This house is up a private driveway and not visible at all from the street. The privacy it offers is great for a celebrity or high profile person. It’s a traditional home with gracious rooms, a pool and a full guest house. The master is downstairs and there are 2 very large en-suite bedrooms upstairs. The upstairs could be re-configured to house more bedrooms. The house needs some cosmetic updating but it’s got great bones and it’s a stately, elegant solid residence. Oh yeah, the price – $3,299.000

The next great house we saw is in Beverlywood. That is where the best deals on the Westside in a totally solid neighborhood reside these days. This one is located at 2257 Guthrie – an absolutely lovely, tree-lined street. It’s a traditional house but it has a very mid-century, open floorplan and feeling. This house was owned by an artist there is just a calm, groovy, S. California vibe about the place. The fact that it’s adorned with ‘50’s era paintings and sculptures and that whole thing flows out to the pool doesn’t hurt. It needs cosmetic updating but the structure and the floorplan are impeccable. The house is over 2800 square feet and the lot is almost 9k! This listing price is $1,149,000. I think this is definitely the buy of the week and we WOULD LOVE TO SELL THIS HOUSE TO SOMEONE WHO GETS IT. This house could be a masterpiece. Come one, come groovy and make this house what it’s dying to be. Call us about these or any other properties that peak your interest.

Calling all Condo Buyers!

We saw the new development at 11715 Chenault in Brentwood at the corner of Barrington Tuesday – and their beautiful. The least expensive unit is $859,000. It is a 2 bedroom + 2.5 bath in about 1500 square feet. It faces Chenault – not Barrington, which means it’s not noisy. The quality of the building and the finishes are fantastic! The fact that something brand new, with this level of fine detail can be purchased in proper Brentwood in the $800,000 range tells you that condo prices have come down dramatically. The other units top out at $1,399,000 for the penthouse unit that sits above single family homes and has some expansive view. That unit has two balconies, one off the master and one off another bedroom. We felt it was a shame that there was no balcony off of the living room. The ground floor units, though not as bright at the top floor, have huge patios which would serve almost as a small yard.
Our condo, in Mar Vista at 3460 Centinela with an ocean view is still available. It has 2 bedrooms + 2.5 baths, top floor with expansive views in a great building with spa-like pool and tennis court. It’s in the sought-after Mar Vista School District. We received one offer, but it’s still available and it’s the right moment for a buyer to get a great deal on the place!
Ready to talk condos, or see one of these places? Call The Savvy Duo.

Real Estate Bargains in Brentwood & Westwood

Real Estate Bargains in Westwood & Brentwood

Two houses we saw yesterday are great buys in great neighborhoods. It’s a pleasure, in this new market, to see deals like this come down the pike.

First, 11431 Bolas in Brentwood for $995,000. That’s right, a house in Brentwood for under 1 million. It’s in Brentwood Glen – cute, charming, traditional, two blocks away from the 405 so freeway noise is not an issue. The house has 3 bedrooms and 2 bathrooms in a little over 1500 square feet. The kitchen is open and has an eat-in area. It needs updating but the space is workable. One of the bathrooms has some chipped tiles that are original to the house, built in 1939, but it’s a house you could move into and then fix up in stages. The yard is private and lush. It’s not too large, but there’s a nice grassy area for play. The price for the neighborhood is fantastic and a buyer could really add value and do well over the long term in this spot.

Next, 2051 Pelham Ave. in Westwood for $1,199,000 is another great house in a great neighborhood with great potential. This house is over 1900 square feet with 3 bedrooms and 2 baths and the lot is approx. 6750 square feet. This house, built in 1931, has absolutely gorgeous architectural and period details. They’re too numerous to mention, but beamed ceilings and antique hardware and lighting fixtures are a few. The solid wooden doors have reliefs and inlaid wood. The kitchen needs a thorough updating. The bathrooms have the original tile but it’s pristine and beautiful and lilac! The backyard has a pool and no grassy area. This is a house for someone who appreciates authentic Spanish architecture and character. Again, here is an opportunity for a buyer to purchase something and with the right kind of updating (keeping the architectural integrity) this is something that will have tremendous value down the road.

If you want to see either of these listings or are looking for a property that you can add value to and reap the future benefit, don’t be shy, call The Savvy Duo.

Mid-Century home in Brentwood & Fabulous View Condo in Mar Vista

We’re plugging our listings this week – and they’re worthy! Both will be open this Sunday, 5/17, from 11 – 2 so if you live anywhere near us come and take a look.

366 N. Kenter has been reduced to $1,989,000 from $2,125,000. It’s a gorgeous, totally done mid-century modern house. It has 4 bedrooms (all upstairs), 3.5 bathrooms, an office/den and a family room. The best thing about the house is the flow. The kitchen is totally open and the whole living space downstairs communicates beautifully from room to room. Also there are huge sliding glass doors, visible from all rooms, that open out to the lush, private backyard. The backyard has a fire pit, banquet seating, an eating area and a grassy play area. It’s totally enclosed and safe for kids and pets. It’s truly an ultimate entertaining home. The house was redone from top to bottom in ’04, so even the things you can’t see are updated.

3460 Centinela #301 is a fantastic condo and even more enticing is the price of $549,000. It has 2 bedrooms + 2.5 baths and it’s a top floor unit with a view. You look out and can see the ocean, the mountains and the marina. The view is enjoyed in all rooms except one of the bedrooms. You can be cooking in your kitchen and watching an incredible sunset over the coastline. The unit has hardwood floors, inside laundry, incredibly generous closet space and 3 balconies. The dues are $375 and include earthquake insurance. The building has a fabulous, resort-like pool, a paddle tennis court and a clubhouse with a gym. It’s in the prestigious Mar Vista Elementary school district.

If you would like more information or to make an appointment to see either of these properties call The Savvy Duo.

Great buys in Brentwood and Beverlywood

We saw some great houses this week, but we saw two deals that are simply fantastic and those are what we’re going to talk about today.
First, 13413 Bayliss in Brentwood is a steal! It’s a 3300 square foot house on a lot that’s almost 15000. The price is $1,595,000. The yard is to-die over, and it’s the focal point of the house. It’s private, lush, flat and has literally a fairy tale feeling. There is a beautiful pool that sets into the environment so naturally, it looks almost like a natural body of water. The house has a great floor plan with 4 bedrooms and a big family room off of the open kitchen. The house is in very good condition but needs updating. There is carpeting in much of the home and dated surfaces. However, not one wall needs to be moved and the work is really surface work. It’s in the Kenter Canyon Elementary district. If you are interested call us now! Even in this market, this house will sell and sell fast. It’s an AMAZING opportunity!

Another AMAZING opportunity is a condo at 1450 S. Beverly Dr. #106 in Beverlywood. The unit is over 1700 square feet and the building was constructed in 2001. It has been on the market for a few months and the price has come down to $589,000. It is a short-sale, which means that the bank is accepting a loss on the property. This building is literally across the street from the Beverly Hills city limit and walking distance to all of the great shopping that Pico Blvd. and downtown Beverly Hills has to offer. The unit is inhabited by the biggest slob ever know to man – and that’s probably why it hasn’t sold. It shows horribly. However, when you look through the stuff (that’s everywhere) there’s a great unit underneath. The bedrooms are on opposite sides of the unit, both en-suite. The entryway is wide and bright, the kitchen is huge for a condo with lovely wood cabinets, granite countertops and an island. The unit is located in the back of the building and the view is quite pleasant. It looks out to greenery and trees and has a long balcony. What this unit needs is a deep cleaning and a buyer with vision. Whoever buys this place is going to get a fabulous deal and live in a great part of town.

Upscale Brentwood new construction & charming Westwood condo

After a couple of weeks of deviation, we’re back to reviewing what we’ve seen on caravan. Yesterday we saw 11925 Currituck in Brentwood. It’s listed at 4.895m. It’s brand new construction, traditional in style, the square footage of the house is approximately 6300 and the lot is approximately 8500. It’s lovely with high –end, high quality finishes and has a grand scale. There is a subterranean garage and the lower level of the house (the basement) is smartly used. There is a screening room, an exercise room and a wine cellar. The lot seems small, but the house is well plotted on the land so there is more yard than one might think from reading the description. It will be really interesting to see how quickly and for how much this sells. We personally feel that the price is too high. There was a house in the neighborhood on Westgate that sold in February for 4m. It was also traditional, brand new construction and beautifully done. That house was on a bigger lot and had a pool and the house itself was only slightly smaller. It was closer to Sunset so there was potentially a little noise in the backyard, although we don’t remember it being significant. It is a comp that will work against Currituck in terms of the way it is priced. At one time the brand new traditionals were flying off the shelves in Brentwood no matter what the price. We think those days have passed, but time will tell.

If you don’t have 4m to spend don’t fret. We found an awesome opportunity yesterday in Westwood! It is a condo that really and truly feels like a home on a beautiful street called Ilona Ave. This condo came on the market last fall for over 700k. It went into escrow in the high 600 range. After a lengthy escrow period, the day before it was scheduled to close, the buyer’s lender pulled the loan and refused to fund. Total nightmare for buyer and seller! The buyer lost his 3% good faith deposit and the seller lost time. Now the seller put the unit back on the market at 595k. It’s a fantastic unit, oozing with charm and character. The building is a mid-century style, built in the ‘50’s. It’s got lovely curb appeal and the street is populated with single family homes, not big buildings. There are 3 bedrooms and the 3 bathrooms, laundry inside and a totally re-done, high-end kitchen with a Viking stove and Sub-zero fridge. The unit is upstairs, has tons of light and lovely views, wood floors, intricate crown mouldings, great closet space and well proportioned rooms. It’s a 1 flight walk-up and there is a 1 car garage. This is not for someone who wants the newest of everything; this is for someone who appreciates quality architecture and wants something unique and with character. We love this unit and will do everything in our power to sell it. It’s an amazing opportunity and a very special place. Please call us if you’d like to see it. It’s worth your time!

There’s No Place Like Home

Your home is one of the most important purchases you will ever make.  It certainly is one of the largest expenditures we make in a life time, but it is so much more than a purchase.  Your home is a financial investment and an emotional investment.  Buying the right home at the right time can solidify your financial future while creating a safe haven for you and your family.  It’s far too important to trust with someone you can’t count on to tell you the truth.

On of the things The Savvy Duo is best known for is our unwavering commitment to telling our clients the truth.  In today’s market, where things are changing on a rapid basis we believe in cutting to the chase.  We provide the kind of service that we would expect, honest, fair, open and skilled.  Your home or future home is far too important to trust to anything less.  We are The Savvy Duo and we sell it like it is!

Buying and REO (bank owned property)

Everyone wants a deal! And, the REO properties coming on the market seem to be at bargain basement prices. Sounds great, right? To date, our dealings with REO purchases can be summed up perfectly in one word – nebulous.

Don’t get us wrong, people are out there buying REO’s and when the market comes back (no one knows when that will be) those purchasing now stand to gain a good deal on their investments. However, the process is not for the faint of heart, or for those who cannot live in the “unknown” for a while. The banks seem to complicate even the most straightforward of situations and the main difficulty with the REO purchase process is a lack of communication and information. For instance, we put an offer in on an REO duplex for some clients a couple of months back. Our clients LOVED the place and they made a full price offer in order to get it. We never got any response. We called and e-mailed the listing agents many, many times to find out the story, but nothing ever happened. During this period, it was difficult to get our clients to consider other possibilities, because their hearts were set on that place. Long story short is that the duplex was under the jurisdiction of a city agency that handles rental properties in need of repairs. No title insurer will provide a policy to a property that is under this jurisdiction. Therefore, no lender will lend on it. The only type of offer that could be accepted on such a property is an all cash offer, which our clients were incapable of doing. We lost about two months of time dealing with that property which would have been avoided with a simple disclosure. It’s possible that the listing agents didn’t know either. Or it’s possible that they did know and it slipped through the cracks. The listing agents on many of these properties have hundreds of listings in areas that are outside of their normal territories and quite simply it’s next to impossible to keep up on them.

Our advice if you’re looking for REO properties – 1) Get comfortable with not knowing and develop the ability to go with the flow. 2) Don’t get too attached to any one property. 3) Keep looking; until contingencies are removed there is no deal.

If you want to throw your hat into the ring and find an REO The Savvy Duo can help you with your search and we’ll even help you with the mental angst — no extra fee.