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| LATEST NEWS
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| MORTGAGE RATES DEFY FORECAST - LATIMES.COM
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As 2014 arrived, experts were confident that the 30-year mortgage rate would rise to at least 5% this year as the Federal Reserve cut back a bond-buying program, which had depressed the rates to unheard-of lows in 2013.
So much for the experts. The Fed has reduced purchases to $20 billion a month in mortgage bonds, down from $40 billion when the program began in September 2012. Yet lenders this week were offering 30-year fixed home loans at an average of 4.2%, the lowest rate in six months, according to home finance giant Freddie Mac.
According to one leading Southland mortgage broker, Jeff Lazerson, certain borrowers with excellent credit are once again able to get 30-year loans with fixed rates a smidge under 4%.
"We've got our mojo back," said Lazerson, president of the Mortgage Grader brokerage in Laguna Niguel.
Wiping some egg off their faces, economists said unforeseen factors have led worried investors to embrace the safety of high-quality bonds this year. And when demand for bonds rises, their effective interest rates fall. The yield on the 10-year Treasury note, at 3% when the year began, has slipped to about 2.6%, and home lending rates have followed, as they generally do.
Rising rates had largely choked off a huge boom in refinancing, which enabled millions of homeowners to lower their borrowing costs as the 30-year rate declined from more than 6% in early 2008 to below 4%. It bottomed out at less than 3.5% in late 2012 and again in May 2013.
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| NEARLY HALF OF ALL HOME SALES ALL-CASH DEALS - CNNMONEY.COM
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All-cash deals hit a record 43% of home sales during the first three months of 2014, according to RealtyTrac. That's up from 19% a year earlier and the highest level reported since RealtyTrac began tracking the deals in early 2011.
The jump is due to two main factors: strict lending standards that make it difficult to get a mortgage and intense buyer competition.
"Inventory shortages, as well as lending regulations favor the all-cash buyer," said Chris Pollinger of First Team Real Estate in Southern California.
Even buyers who would ordinarily finance their purchases are making all-cash offers to appear more attractive to sellers, said Daren Blomquist, vice president at RealtyTrac.
"If they have the ability to, homebuyers will put up cash bids just to jump to the front of the line," he said.
After all, cash deals stand a better chance of closing on time. Buyers dependent on financing may run into snags due to strict mortgage underwriting standards.
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| POCKET LISTINGS
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| IN ESCROW Prices Indicate Asking Price
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Wailea Beach Villas B101 Wailea, HI $9,950,000 1723 Moraga Dr Bel Air $7,995,000 1801 Westridge Rd Brentwood $4,995,000 11507 Orum Rd Bel Air $3,795,000
644 S. Orange Dr Hancock Park $2,795,000
163 S. Larchmont Blvd Hancock Park $2,389,000
9504 Highridge Dr Beverly Hills Post Office $1,795,000
8535 Eastwood Rd
Hollywood Hills
$1,699,000
3025 Benedict Canyon Dr BHPO $1,695,000
3501 McLaughlin Ave Mar Vista $929,000
2131 Ivar Ave Hollywood Hills $889,000
1121 S. Highland Ave Hancock Park $849,500
530 S. Barrington Ave #206 Brentwood $569,000
1133 Tower Road Beverly Hills Off Market
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SOLD
Prices Indicate Asking Price
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9315 Nightingale Rd
Sunset Strip
$6,995,000
11610 Bellagio Rd
Bel Air
$3,995,000
328 El Camino Dr.
Beverly Hills
$3,650,000
6235 Drexel Ave Beverly Center $2,495,000
540-548 S. State St Anaheim $1,690,000
6414 Moore Dr
Carthay Circle
$1,799,000 596 Entrada Dr Santa Monica $1,375,000 2245 Bronson Hill Dr Hollywood Hills $1,199,000 13600 Marina Pointe Dr #806 Marina Del Rey $895,000 9124 W. 24th St Beverlywood $885,000 8611 Burton Way #18 Beverly Center $749,000 4050 Glencoe Ave #205 Marina Del Rey $569,000 700 Westmount Dr West Hollywood $525,000 10501 Wilshire Blvd. #1704 Wilshire Corridor $495,000 1400 N. Hayworth Ave #9 West Hollywood $349,000
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| COMING SOON |
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220 N. Plymouth Blvd Hancock Park Price Upon Request
9103 Gibson St Beverlywood Price Upon Request
3131 S. Canfield Ave #108 Beverlywood $329,999
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GREETINGS FROM SALLY,
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May 22, 2014
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This past month has been full of exciting changes and new ventures! We are settling in at John Aaroe Group where I was recently offered the opportunity to head their newly created division as the President of Aaroe International Luxury Properties. Since joining John Aaroe Group, I have been overwhelmed with the professionalism, support, and innovative thinking which has already opened many doors for our team and for our clients!
In addition, I am so excited to introduce the Enclave at Century Woods which is an ultra-luxurious new development project located within Century Woods, in the heart of Century City. This incredible collection of 10 luxurious, individually designed villa homes provides an incomparable living experience. Each brand new villa is designed with top of the line materials and finishes with amenities for every conceivable comfort! We have been inundated with interest for this exceptional community and with only 10 opportunities to own, this is an incredibly exciting and exclusive project. We are now selling so please feel free to contact me directly for additional information.
Wishing everyone a wonderful Memorial Day weekend!
Best wishes,
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SFJ GROUP YOUTUBE
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2539 Benedict Canyon,
Beverly Hills Post Office: $6,288,000
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4718 White Oak Ave. Encino: $3,899,000
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290 Strada Corta Road, Bel Air
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$12,950,000
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Enveloped in utter privacy, gated, & approached via a long circular drive, this 6+8.5 authentic mid-century, by renowned architect George MacLean, is located in the most exceptional setting encompassing a huge area of usable land in the best part of lower Bel Air. The living room flows around a stone fireplace & highlights walls of windows opening to the grassy yard. The den & wet bar create the perfect space for entertaining & flow to the formal dining area & spacious kitchen. Spacious master suite w/fireplace, enormous dual baths, & dual walk-in closets! 2 add. ensuite bedrooms, 2 staff rooms, + detached 1+1 guest house. Private grassy yard, complete w/pool & patio areas. 4-car garage & motor court. |
1323 Moraga Drive, Bel Air
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$7,995,000
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Magnificent 6BD + 5.5BA estate in prestigious Moraga Estates set on over 9 acres with expansive flat grassy yard and lighted tennis court. Large windows flood interior spaces with light and look out to the lovely grassy yard. There are 6 spacious bedrooms including a maid's & 5 bedrooms upstairs. The voluminous master features huge dual walk-in closets, sumptuous bath and separate office/sitting area with large patio and beautiful views.The media/game rm boasts skylights, built-ins and lovely wood detailing. Enjoy privacy and exceptional lifestyle in a 24 hour guard gated community.
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10209 Century Woods Drive, Century City
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$6,895,000
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Premiering the first of an extraordinary collection of 10 private addresses is located within Century Woods, in the heart of Century City. Hardwood flooring, natural stone, wrought iron touches, terraces, & authentic pavers add custom touches. The beautifully appointed central courtyard features outdoor dining & entertainment areas and makes way for the open floor plan and expansive living areas. Floor plans range from 5,700-6,500+ sqft with 3-5 bdrms w/ secluded maid's quarters, private elevator, 3-car garage with direct entry, & covered rooftop terrace. Century Woods' amenities & 24hr guard gated entry through a newly configured entrance. Available to purchase now. |
4630 Encino Avenue, Encino
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$5,895,000
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The ultimate in privacy and views! Up a long private drive lies this magnificent architectural gem on nearly 2 acres. This stunning 10,000+ square foot home offers panoramic views and all of the amenities one could dream of. Magnificent great room, gourmet eat-in kitchen, elegant formal dining room, 2 stately offices, state-of-the-art movie theater, and so much more. There are 6 well planned bedrooms including the spectacular master suite. Expansive patio, covered dining pavilion, infinity pool and spa and enormous grassy yard with play area. Ample parking and spacious motor court. |
1044 Manning Avenue, Little Holmby
| $2,999,999 |
In desirable Westwood/ Little Holmby this contemporary home is turnkey with no detail spared! Airy, bright, and filled with numerous skylights, this 4BD + 3.5BA home has an open and inviting floor plan; spacious living room, step down family room/den, updated chef's kitchen with over sized kitchen island, & the open dining area with a wall of doors that fully open to incorporate an indoor/outdoor lifestyle. A generous master suite plus three additional bedrooms upstairs. Private backyard with sparkling pool/ spa, grassy yard, BBQ station, small sports court, exquisite landscaping, and more. Spacious laundry and craft room, security system and 2-car garage. Prime location - in Warner Ave. Elem. School District! |
10580 Wilshire Blvd #19NW, Westwood
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$2,995,000
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Exquisitely refinished Paris inspired pied-a-Terre. Elevator opens to this 19th floor foyer where you are greeted with unobstructed panoramas to the ocean and Catalina. Rich wood floors reclaimed from a Vermont Barn, crown moldings, and superior Grace & Scalamandre wall coverings are just a few of the designer touches throughout. 3BD+2.5BA including sumptuous master suite with dual walk-in closets, bath with hand-laid mosaic tile, shower and Jacuzzi. Newly renovated building affords luxurious amenities; hi-tech gym, outdoor pool, banquet room with catering kitchen, board meeting room, wine cellar with private storage, 24/7 concierge/valet and more!
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2633 La Cuesta Drive, Hollywood Hills
| $2,499,000 |
The ultimate in privacy and California living at its best! A discreet gate leads you down a long drive to this fantastic warm, contemporary oasis on over half an acre.Chef's kitchen featuring professional appliances, 2 farmhouse sinks, and counter space galore is flooded with light. The open and flowing floor plan with soaring, character rich, beamed ceilings as well as dark, rich hardwood floors connects dining and living areas. Three bedrooms plus 2.5 baths including the upstairs master retreat. French doors leading to multiple outdoor destinations including a lap pool with incredible light and canyon views. |
239 N. Kenter Drive, Hollywood Hills
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$2,395,000
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Fantastic Brentwood location! Lovely gated 3 bedroom plus office (potential 4th bedroom) & 3.5 bath home is situated on a large lot in a wonderful neighborhood just North of Sunset Blvd. This home is just waiting for you to make it your own! The living & dining area has a wonderful open floor plan lined with doors and windows opening to the grassy backyard, patios, and sparkling pool. There are 3 bedrooms plus office/den/ or potential 4th bedroom. This home also boasts extra features including a step down bonus room, a spacious office/den, detached studio, four car garage, and motor court.
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2857 Motor Avenue, Cheviot Hills
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$1,799,000
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In the lovely sought after community of Cheviot Hills; this spacious home has beautiful curb appeal. An extraordinary opportunity to create your dream home! The traditional floor plan includes bright public rooms, den/family room and large living room with wood floors, formal dining room with large windows, and kitchen that opens to the entertainer's rear deck. There are 4 bedrooms and 3 bathrooms plus a bonus room with private entrance that could be an additional bedroom, media room, game room, etc. The private yard boasts a spacious rear deck, a pool, and beautiful views of greenery and the tree-tops. There are so many possibilities!
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1430 Miller Drive, Hollywood Hills
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$1,695,000
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Super cool and hip Hollywood view home. This stunning property feels like a fabulous loft with views from the upper and lower decks to the city. The open plan living room to kitchen makes it perfect for entertaining. Features two spacious bedrooms, two and a half bathrooms, screening room/gym, and decks with views of the city. Terraced gardens down and private pedestrian gated entry up. Superb location. Perfect home for the most stylish buyer.
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850 N. Hudson Avenue, Hollywood
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$574,999
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Boutique Tuscan-style newer construction building. Open, airy and bright unit with 2 bedrooms, two and a half bathrooms and almost 1,500 sf of living space. Cook's kitchen with maple cabinets, granite counters and stainless appliances. Hardwood floors, recessed lighting and sumptuous moldings in living areas plus custom silk screened Hunter Douglas blinds throughout. The building has a recently built state of the art gym and 2 subterranean parking spots. The Hancock Park adjacent location can't be beat! |
530 S. Barrington Drive #206, Brentwood
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$569,000
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Extra large and beautifully redone 1 bedroom, 1.75 bath condo + large den in a fantastic Brentwood location. Newly done kitchen with quartz counters and stainless steel appliances. Updated baths, quality materials, and lots of closet space. New flooring throughout. Quiet unit does not face Barrington. Enjoy greenery/treetop views from the private balcony. Secure building with assigned garage parking and pool. An excellent location close to restaurants, shops, parks and Barrington Recreation Center. |
1693 Marmont Avenue, Sunset Strip
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$50,000/month
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INCREDIBLE OPPORTUNITY FOR A SHORT TERM SUMMER LEASE PERCHED ABOVE THE SUNSET STRIP! At the top of a celebrity lined street sits the ultimate in privacy and elegance, only half a mile from Sunset Blvd. and the famed Chateau Marmont. Behind gates you will find this luxury custom built Italian Villa. Spacious floor plan for entertaining features floor to ceiling windows to enjoy the jetliner, city and canyon vistas. Expansive balcony wraps around entire second floor. Huge flat yard with pool, spa, sauna and guest house. Old world detail and quality with all of the modern day conveniences. A truly special home for the most discerning who demand nothing but the finest quality.
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10580 Wilshire Blvd #19NW, Westwood
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$14,950/month
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Exquisitely refinished Paris inspired pied-a-Terre. Elevator opens to this 19th floor foyer where you are greeted with unobstructed panoramas to the ocean and Catalina. Rich wood floors reclaimed from a Vermont Barn, crown moldings, and superior Grace & Scalamandre wall coverings are just a few of the designer touches throughout. 3BD+2.5BA including sumptuous master suite with dual walk-in closets, bath with hand-laid mosaic tile, shower and Jacuzzi. Newly renovated building affords luxurious amenities; hi-tech gym, outdoor pool, banquet room with catering kitchen, board meeting room, wine cellar with private storage, 24/7 concierge/valet and more!
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200 S. McCarty Drive, Beverly Hills
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$9,900/month
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Authentic Spanish charmer with modern updates and an amazing location on the best street South of Wilshire. A romantic and completely private courtyard leads to a step-down living room with original high beamed ceiling, fireplace and hardwood floors. Remodeled cooks' kitchen boasts beautiful cabinets, white marble counter-tops, and high-end appliances. The living room and dining room both open to a beautiful brick courtyard with built-in barbecue and black bottom spa. Three bedrooms and 2 baths up including lovely master and master bath with a 4th bedroom down. Close to all: shops, restaurants and schools.
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