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In This Issue
 Home Prices Remain On the Rise
 Southland Home Sales Slow; Median Home Prices Rise Again But at a Slower Pace
 Southland Home Sales Slow; Median Home Prices Rise Again But at a Slower Pace
 In Escrow
 Sold
 Coming Soon
 SFJ Group on YouTube: The Enclave at Century Woods
 New Listings & Leases
LATEST NEWS
HOME PRICES REMAIN ON THE RISE - CNN MONEY
 

U.S. home prices remain on the upswing at the start of 2014, as a slow recovery from the bust that led to the financial crisis continues.

In the first three months, prices rose 10.3% on an annual basis, according to the S&P/Case-Shiller report. In March, an index of 20 large housing markets gained 12.4% year-over-year.  

 

The year-over-year gains are likely to moderate, according to Stan Humphries, chief economist for Zillow, because current prices are being compared with months when many markets were at or near their post-bust bottoms. Coming comparisons will be against less depressed prices.  

 

There are several other factors that continue to boost prices, however, including unusually low mortgage rates and the diminishing number of foreclosures and short sales on the market, which tend to sell for less. Those factors will take time to disappear.

"We're still several years away from a housing market driven purely by fundamentals like income growth and rising household formations," said Humphries.

Prices remain about 18% below their peak, which was reached in the summer of 2006.  

  

   

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SOUTHLAND HOME SALES SLOW; MEDIAN HOME PRICES RISE AGAIN BUT AT A SLOWER PACE - DATA QUICK NEWS
 

La Jolla, CA---Southern California home sales lost momentum in May, falling from both April and a year earlier as investor demand fell and buyers continued to face inventory, affordability and credit constraints. Prices climbed again but at roughly half the year-ago pace, a real estate information service reported.

 

A total of 19,556 new and resale houses and condos sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties last month. That was down 2.3 percent from 20,008 sales in April, and down 15.1 percent from 23,034 sales in May last year, according to San Diego-based DataQuick.

 

On average, sales have increased 5.8 percent between April and May since 1988, when DataQuick's statistics begin. Sales have fallen on a year-over-year basis for eight consecutive months. May sales have ranged from a low of 16,917 in May 2008 to a high of 35,557 in May 2005. Last month's sales were 23.0 percent below the May average of 25,393 sales.

 

 

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US MORTGAGE RATES RISE FOR SECOND WEEK - BLOOMBERG
 

Mortgage rates in the U.S. rose for a second week, extending an increase in borrowing costs from an eight-month low.

 

The average rate for a 30-year fixed mortgage was 4.2 percent this week, up from 4.14 percent, Freddie Mac said in a statement today. The average 15-year rate climbed to 3.31 percent from 3.23 percent, according to the the McLean, Virginia-based mortgage-finance company.

 

Homebuyers got a temporary reprieve when rates unexpectedly dropped for five straight weeks beginning in early May. Economists expect loan costs to climb in the second half of the year as the Federal Reserve continues scaling back bond purchases that have helped support housing demand. Policy makers next meet on June 17-18.

 

"Mortgage rates have confounded expectations by falling in the face of a strengthening economy this spring," Keith Gumbinger, vice president of HSH.com, a Riverdale, New Jersey-based mortgage-data firm, said yesterday in a telephone interview. "But now it would seem that interest rates are behaving a little more normally."

 

 

 

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CLICK HERE TO VIEW ALL OUR PROPERTIES �
IN ESCROW
Prices Indicate Asking Price

Wailea Beach Villas B101

Wailea, HI

$9,950,000

 

1723 Moraga Dr

Bel Air

$7,995,000

 

11507 Orum Rd  

Bel Air 

$3,795,000

6336 Drexel Ave
Beverly Center
$2,925,000

2633 La Cuesta Dr
Hollywood Hills
$2,499,000

1723 Viewmont Dr
Sunset Plaza
$2,490,000

16742 Ashley Oaks
Encino
$1,995,000

220 N. Plymouth Blvd
Hancock Park
$1,899,000 

3025 Benedict Canyon Dr
BHPO
$1,695,000

2341 Donella Rd
Bel Air
$1,349,000

2609 Canfield Ave
Beverlywood
$1,345,000

2131 Ivar Ave
Hollywood
$889,000

1121 S. Highland Ave
Hancock Park
$849,500

4429 Alla Rd #2
Marina Del Rey
$729,000

11535 Rochester Ave #205
West L.A.
$600,000

850 S. Hudson Ave #101
Hollywood
$574,999

530 S. Barrington Ave #206
Brentwood
$569,000

141 S. Clark Dr #402
West Hollywood
$475,000

1133 Tower Road
Beverly Hills
Off Market

7832 S. East Seaglass Cir
Playa Vista
Off Market

669 Warner Ave
Little Holmby
Off Market

3240 Woodbine St
Cheviot Hills
Off Market

 

SOLD 
Prices Indicate Asking Price

1801 Westridge Rd

Brentwood

$4,995,000   

 

644 S. Orange Dr
Hancock Park
$2,795,000

239 N. Kenter Ave
Brentwood
$2,395,000

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

3501 McLaughlin Ave
Mar Vista
$929,000

2131 Ivar Ave
Hollywood Hills
$889,000

COMING SOON

4643 Caritina Dr
Tarzana
$3,395,000

9107 Olin St
Beverlywood
$749,000

4616 Glencoe Ave #5
Marina Del Rey
$747,000

3131 S. Canfield Ave #108
Beverlywood  
$329,999


GREETINGS FROM SALLY,
June 18, 2014

I hope that everyone is having a great month with summer right around the corner!  The market is still strong right now although it seems that in some areas the frenzy of last year has dulled slightly which may be a sign that market is be beginning to even out again.

Price remains a critical factor and well priced properties are still drawing multiple offers and over-asking prices. Sales in Southern California have slowed but prices still are going up. "'We expected rising prices to unlock more inventory this spring and that's happened. But the supply of homes for sale still falls short of demand in many markets, contributing to a rise in prices and a below-average sales pace. The drop in affordability has also hampered activity, helping to explain how sales could be lower now even though today's inventory is higher than a year ago...' said Andrew LePage, a DataQuick analyst" (Data Quick).

Mortgage rates were also up slightly last week. Freddie Mac reported that the average 30-year fixed rate was 4.2 percent last week up from 4.14 percent, and the average 15-year fixed was 3.31 percent (Bloomberg).

 

Best wishes,  

 

  

SFJ GROUP YOUTUBE
     
FEATURED LISTING

The Enclave At Century Woods - Luxury Living in the Heart of Century City
The Enclave At Century Woods - Luxury Living in the Heart of Century City

 



201 Ocean Ave, #1608B 
Santa Monica$3,650,000

NEW LISTINGS & LEASES

Meier on Rothschild, Tel Aviv 
 Pricing Upon Request 

 
The Meier-on-Rothschild is a stunning residential tower that was designed by Richard Meier, a winner of the Pritzker Prize. These luxury apartments provide residents with a lavish design and awe-inspiring views of the Mediterranean Sea. This beautiful residential tower soars above the city, at 42 stories high it is adorned with elegant amenities including a hospitality lounge, an opulent lobby, spa, wine cellar, lobby services, 6 subterranean levels for storage and parking and a semi-Olympic sized swimming pool.  The tower also includes 3 rare luxurious penthouses with an indoor pool, private indoor gym and spa, and private elevator.

 
10640 Taranto Way, Bel Air 
 $6,795,000 

 
This classical home with contemporary influences is just minutes from the world class Hotel Bel Air. Upon entering the residence you are greeted by dramatic high ceilings, cascading staircase and formal foyer. Formal Living Room, formal dining room, gourmet kitchen, Family room, office & guest bedroom suite. The enormous master has high ceilings, large master bath, 2 walk-in closets and private terrace. Wonderful pool/spa, pool house with sauna, lower level gym & bath and lots of parking for guests. Flooded with natural light. A true retreat from urban life!
 
2844 Hutton Drive, Beverly Hills P.O.     
 $3,895,000 

 
Step into this private retreat and experience the peace and quiet as the rest of the world begins to fade away. Expansive great room with 2-story beamed ceilings and an oversized stone fireplace. Every room takes advantage of the enchanting setting. Formal dining room, gourmet kitchen w/skylights, sunny breakfast area, Viking appliances, center island & beamed ceilings. 2 bedrooms plus a spacious family room. The sumptuous master suite boasts high ceilings, cozy fireplace, sitting area, walk-in closet and deluxe master bath with huge skylights. The wonderful private yard is perfect for indoor/outdoor living.

1328 Beverly Grove Place, Beverly Hills P.O.  
 $2,399,000

 

Updated Mediterranean retreat features dark wood floors, rich wood accents, archways, and beautiful detailing. The main level boasts a great room with warm fireplace, French doors, and gourmet chef's kitchen. There are 2 spacious bedrooms on the main level with a lovely updated bath. The spacious upstairs master suite is a secluded retreat with a wonderfully spacious Loggia. Office/maid's room with private entrance, 2-car garage complete this special property.

 

220 N. Plymouth Blvd, Hancock Park      
 $1,899,000 

 
A fresh take on a California Spanish with modern influences. Completely redone to the studs and a stone's throw from trendy Larchmont Village! Gourmet kitchen with all new Viking appliances, custom cabinetry, unique Qortstone statuary white countertops & Italian textured ceramic tile. The tasteful master suite boasts a huge walk-in closet & French doors that open to the yard. The romantic garden reflects the Spanish style of the home with numerous fruit trees & drought tolerant plants. New addition, new systems, new stucco, drywall, windows and more.
 
2609 S. Canfield Ave, Beverlywood
 $1,345,000 

 
The home you've been waiting for! This redone Beverlywood home has been completely updated with over the top finishes and materials! New windows, French doors with transom windows, luxurious master bedroom and ensuite bath, totally redone 2nd bath, custom gourmet kitchen which opens to a beautiful family room, and more! Huge backyard with room for a pool. The breathtaking master bath features porcelain tile floors, granite counters and large soaking tub. Renovated 2 car garage is currently being used as a playroom. Castle Heights Elementary School.

301 N. Highland Avenue, Hancock Park    
 $1,199,000 

 
A cool and hip mid-century newly remodeled single level home! This tastefully done property features a bright & open floor plan allowing views from most rooms to the backyard and sparkling pool. Hardwood floors throughout; kitchen has white Caesarstone counters and designer white cabinets with matching white paneled appliances. Bathrooms support a clean lined modern fresh look using quality materials. Large living/dining/family room. Quiet and private yard - newly landscaped front and back. 
 
9103 Gibson Street, Beverlywood
$949,000

 
Perfect blend of authentic Spanish charm but updated for modern living! This exquisite authentic Spanish home is in a great Beverlywood location and features original details, peg and groove hardwood floors, stained glass, coved wood beamed ceiling, and more.  The open floor plan also boasts a lovely step-up formal dining room, updated eat-in kitchen and 2 good-sized bedrooms and 2 baths. There are several charming outdoor areas: a lovely front courtyard and gardens - all perfect for indoor/outdoor entertaining!
 
5101 Stratford Road, Highland Park
$639,900


Charming, Spanish style home in the heart of Highland Park, with an abundance of natural lighting, and open floor plan. Gorgeous historic details include: arched walk ways, moldings, original hardwood floors, and beautiful built-ins from the 1920s. Spacious 3 Bedroom, 1.75 Baths, updated kitchen with tile countertops. Home can function as a single family residence with access to all bedrooms and bathrooms, or as a single family home with granny flat or rental unit (1 Bed and 3/4 Bath) with kitchenette.  

1020 Carolyn Way, Beverly Hills 
 $7,900/ month

 

One story mid-century in good condition with wonderfully spacious rooms and in an A+ location. This home features 4 bedrooms and 4 baths including a large master bedroom. The large den with fireplace, dining room and living room all open to each other for great entertaining flow. Private pool and secluded backyard. Lots of storage, abundant closets, corner home with circular drive. In Beverly Hills School District.

 

2299 Beverwil Drive, Beverlywood   
 $4,800/ month  


Fabulous remodeled custom home with open floor plan and beautiful indoor outdoor flow. Spacious living area boasts hardwood floors throughout with warm wood shelving and built-ins and indoor/outdoor surround sound. Lovely covered patio perfect for outdoor dining and entertaining. The ample grassy yard and sunny pool are surrounded by mature foliage which affords great privacy.  

1306 1/2  Alta Vista Blvd, Hollywood  
 $2,200/month

 

Huge upper 1 Bedroom, 1 bath unit in prime Hollywood. Beyond charming, this building overlooks a lovely landscaped courtyard. Features a large kitchen, hardwood floors throughout, crown moldings, lots of storage, washer and dryer and everything else you'd expect from Old Hollywood. Gated entry and gated parking with private garage and more storage. Your new home awaits!

 





John Aaroe Group does not guarantee the accuracy of square footage, lot size or other information concerning the condition or features of the property provided by the seller or obtained from public records and other sources. The buyer is advised to independently verify the accuracy of the information. Listing broker Sally Forster Jones CalBRE# 00558939