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| DOWN WITH THE DOWN PAYMENTS - WSJ
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Wealthy borrowers no longer need large down payments to get a mortgage.
More lenders are approving borrowers who put less than 20% down for million-dollar home purchases, suggesting banks are feeling sanguine about the luxury market. Last month, Bank of America BAC -0.13% lowered its minimum down-payment requirement to 15%, down from 20%, for loans of up to $1 million. Wells Fargo WFC -0.30% cut down-payment requirements by the same amount to a minimum of 15% in July for private jumbo mortgages, which start above $417,000 in most parts of the country and exceed $625,500 in pricier housing markets, such as New York and San Francisco. Also, in March, New Penn Financial, a mortgage lender based in Plymouth Meeting, Pa., and subsidiary of Shellpoint Partners, began allowing 15% down payments for private jumbos. |
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| CONFIRMED: HOMES IN MALIBU ARE VERY EXPENSIVE - WSJ
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With the tech industry booming and real-estate values rising, Northern California has lately had the upper hand in the long-running feud between Northern California and Southern California.
So here's some good news for (select) homeowners in Southern California: Los Angeles and Orange Counties have the nation's two most expensive real-estate markets, beating out Northern California.
The nation's most expensive real estate market in 2013 was Malibu, Calif., with an average listing of $2.15 million, according to a Coldwell Banker ranking of the nation's priciest markets.
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| POCKET LISTINGS
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Trousdale
Luxury Estate
$12,000,000
Little Holmby
$2,100,000
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| | IN ESCROW | |
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928 N. Beverly Dr.
Beverly Hills
$6,200,000
10269 Century Woods Dr.
Century City
$4,795,000
1160 McClellan Dr.
Brentwood
$4,495,000
11507 Orum Rd.
Bel Air
$3,795,000
20446 Pacific Coast Hwy
Malibu
$2,179,000
9504 Highridge Dr. Beverly Hills Post Office $1,895,000 3318 Colby Ave. Mar Vista $1,895,000 1463 3rd Street Downtown L.A. $1,450,000 1978 Van Ness Ave. Los Feliz $1,195,000 3719 Buena Park Dr. Studio City $1,150,000 1414 N. Harper #18 West Hollywood $975,000 8826 Harratt St. West Hollywood $789,900 8345 White Oak Ave. Northridge $624,995
519 Norwich Dr.
West Hollywood
Off Market
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| | SOLD | |
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137 S. Spalding Dr. #104
Beverly Hills
$1,749,000
4931 Del Moreno Dr.
Woodland Hills
$817,000
18523 Sunny Ln.
Tarzana
$725,000
5037 Veloz Ave. Tarzana Off Market 1216 Masselin Ave. Miracle Mile Off Market |
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| | COMING SOON | |
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The Enclave at Century Woods
Century City
Additional Information Upon Request
328 El Camino Dr.
Beverly Hills
$3,895,000
4800 Brewster Dr.
Tarzana
Lease Price Upon Request
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| GREETINGS FROM SALLY, |
November 19, 2013
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Happy Thanksgiving everyone! It has been a fantastic year and we have so much to be thankful for.
In the news this week, some lenders are beginning to ease the standard 20% down payment requirement for wealthy borrowers. "More lenders are approving borrowers who put less than 20% down for million-dollar home purchases, suggesting banks are feeling sanguine about the luxury market" (WSJ.com). Home values are rising which is lessening the risk for lenders on jumbo mortgages.
According to Coldwell Banker's ranking of the country's most expensive real estate markets, the top 2 priciest markets are located in Southern California with Malibu ranking number one and Newport Beach following behind in second. While price gains vary greatly from neighborhood to neighborhood, it seems to me that in many areas we are reaching new highs. We are looking forward to closing out the year on a very positive note!
Best wishes,
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SFJ GROUP BLOG
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Luxury Market Update: What's happening in your neighborhood this month?
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Wailea Beach Villas B101
Wailea, Hawaii
Offered at $10,900,000
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6516 Maryland Drive, Beverly Grove $2,795,000
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A private and warm contemporary oasis built to exacting standards with the utmost quality throughout. One experiences the seamless marriage of indoor/outdoor living. Five fantastic bedroom suites with soaring ceilings and an abundance of storage. Master suite includes double sided fireplace, vistas of a Zen garden, steam shower, and huge walk in closet. Crestron home automation and built in speakers throughout add to an already incredible lifestyle experience.
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1723 Viewmont Drive, Sunset Plaza
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$2,375,000
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Jaw-dropping views from the city to the ocean from this welcoming retreat, aptly named "Bella Vista", in a prestigious Sunset Plaza location. This pvt. villa offers a rare flat grassy yard w/pool. The open great room features newly refinished hardwood floors, handsome fireplace & beamed ceiling. There are 3 spacious bedrooms upstairs, each w/a backdrop of city lights. Dual master bedrooms feature tons of closet space & cozy fireplaces. This prestigious location defines an upscale, refined lifestyle!
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180 N. Rexford Drive, Beverly Hills
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$1,999,000
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Don't miss this incredible opportunity and unprecedented value! Make your dream home a reality. This HUGE corner lot is ideally located in Beverly Hills and just around the corner from Rodeo Drive, world class shopping, dining, entertainment, and everything Beverly Hills has to offer.
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3318 Colby Avenue, Mar Vista
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$1,895,000
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Come home to this classic traditional home, completely redone and thoughtfully upgraded with discerning taste & style. This beautiful home is located in the prestigious Westdale Trousdale area of Mar Vista close to shops, parks, & Mar Vista Elementary.There are 4 bedrooms plus an office and 3.5 bathrooms in the main house plus a charming 1+1 guest house. So many quality materials & upgrades!
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137 S. Spalding Dr. #104, Beverly Hills
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$1,749,000
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This spacious townhome located on one of the prime streets in Beverly Hills in the most desirable building. Elegant entry and powder room, large formal dining room, cooks kitchen with built-in breakfast bar, open living room with cozy fireplace, office or family room, dark hard wood floors throughout, with french doors leading to private 400sq ft patio garden with spa - perfect for entertaining and barbequing.
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9107 Beverlywood Street, Beverlywood
| $869,000 |
Charming, beautifully redone Spanish Style Bungalow in lovely Beverlywood! The home is filled with light & everything is in meticulous condition. This 2 bedroom, 1.75 bath home has been completely remodeled w/ the finest of materials. Enjoy relaxing or entertaining in your large private grassy yard w/ luxurious loggia.
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1723 Viewmont Drive, Sunset Plaza
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$10,900/ month
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Jaw-dropping views from the city to the ocean from this welcoming retreat, aptly named "Bella Vista", in a prestigious Sunset Plaza location. This private villa offers a rare flat grassy yard w/pool. The open great room features newly refinished hardwood floors, handsome fireplace & beamed ceiling. There are 3 spacious bedrooms upstairs, each w/a backdrop of city lights. Dual master bedrooms feature tons of closet space & cozy fireplaces. This prestigious location defines an upscale, refined lifestyle!
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©2013 Coldwell Banker Real Estate LLC. Coldwell Banker®, Previews® and Coldwell Banker Previews International are registered trademarks licensed to Coldwell Banker Real Estate LLC. An Equal Opportunity Company. Equal Housing Opportunity. Owned And Operated By a Subsidiary of NRT LLC. Broker does not guarantee the accuracy of square footage, lot size or other information concerning the condition or features of property provided by seller or obtained from public records or other sources, and the buyer is advised to independently verify the accuracy of that information through personal inspection and with appropriate professionals. Coldwell Banker®, the Coldwell Banker Logo, Coldwell Banker Previews International® and the Coldwell Banker Previews® International Logo, are registered service marks owned by Coldwell Banker Real Estate LLC. 
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