Here's the latest batch of information and news for Eastside home buyers and sellers.
News & Notes
HOA Rules: What you need to know about how open meeting laws apply to condo associations. OC Register
Condos in Demand: The rise in condo sales in urban areas this year have so far outpaced other housing types. In Los Angeles, urban condo sales are so far up more than 32% compared to 2020. "Condos are picking up in popularity from a pandemic-driven plunge, even with the outsized popularity of single-family homes." Redfin
Celebrity Real Estate: Producers Shana Feste and Brian Kavanaugh-Jones are listing their 5-bedroom/6-bathroom Spanish villa on Live Oak Drive in Los Feliz for $3.757 million, Dirt reported - a high jump from their 2015 purchase price of $2.3 million.
Celebrity Real Estate: Director-producer David Fincher and producer Ceán Chaffin have added another Los Feliz property to their portfolio, Dirt reported. The two picked up a 3-bedroom/3-bathroom Palm Springs-style midcentury on Los Adornos Way for just under $2.8 million. In addition to their Los Feliz holdings, Fincher and Chaffin already use another Los Feliz home as their primary address.
Hi & Low: The highest priced Eastside home sale within about the past week was a 5-bedroom Los Feliz contemporary that sold for asking $3,730,000 ($20,000 under asking); the lowest was a 120-year-old Boyle Heights 2-bedroom that went for $400,000 ($49,900 under asking).
Real Estate Reductions
Highland Park Spanish; $50k reduction on Atwater Village bungalow; $81k chop on Echo Park duplex
Here are some examples, followed by a breakdown by neighborhood, of recent price cuts on homes, condos, apartments and other Eastside properties.
Highland Park Spanish: $15,000 slice on remodeled Tuscan style home with 4 bedrooms, 2.5 bathrooms, and backyard patio. Property includes new AC/Heating, new stackable washer and dryer, with the possibility to purchase staged furnishings. Now $885,000.
Atwater Village bungalow: $100,000 reduction on fully renovated 2-bedroom home with 2 bathrooms, front yard and big backyard. There is a detached ground up AUD located behind the house with a bathroom, kitchen area, and attached Landry. Now $1,099,000.
Echo Park duplex: $201,000 chop on two bungalow style units with 1 bedroom, and 1 bathroom each. Both units come with kitchen, living room and dining room. One unit has been remodeled. Potential to redevelop lot. Now $899,000.
Which home remains the most overpriced?
Homes with guest houses in Atwater Village, Elysian Heights & Elysian Valley
If you are looking for a home with a guest house, here are three properties that are currently available.
Elysian Heights: Craftsman home and a detached guest house with a remodeled bathroom and closet space. Now asking $1,089,000.
Elysian Valley: Renovated 3-bedroom main home and a guest house with a kitchen, bedroom, bathroom and laundry area. Now asking $1,295,000.
Atwater Village: Property includes a 2-bedroom main house and a 2-bedroom guest house with a laundry room. Now asking $1,449,995.
Which home is the best deal?
Sponsored Real Estate Listings
That's it for this week's issue
See you next Friday!
Jesus Sanchez, Publisher