An excerpt taken from "L.A. County's hottest zip codes" in the LA Times Business Section on Sunday, January 17, 2015:
Toluca Lake | Studio City | 91602
Median price per square foot: $570, +19.6%
Median price: $1,022,500, +3.2%
Sales: 111, +3.7%
The San Fernando Valley has not experienced the pace of price increases of some other areas. But it's not a surprise that Toluca Lake and Studio City are standouts.
The area has long been attractive to Hollywood executives and wealthy families looking to be near elite private schools. More recently, Studio City has become a hot spot for young urban professionals amid an explosion of bars and restaurants.
And with all the talk of the Federal Reserve hiking interest rates, real estate agent Matt Epstein said many buyers decided that it was time to make their move. He said developers also are shelling out for older homes to renovate or tear down to build towering replacements.
“Developers are willing to pay a premium,” he said.
The flood of activity here — like the market as a whole — has slowed its pace in recent months, but Epstein doesn't foresee a bubble about to pop.
“I don't see prices going down, but leveling out,” he said.
Read the whole article about up-and-coming LA neighborhoods at LA Times.
Interested in Buying a Home from One of LA's Best Neighborhoods?
FROM THE BLOG
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Planting Your Summer Garden
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Finding Your Interior Design Style: Tips to Help You Design the Interior of Your Home
Designing your home can seem like a daunting and exhausting process, but it doesn’t have to be. When it comes to home decorating it’s important that your home has a cohesive design layout that resonates with you! That means designing for your life, not your walls.
In California, where the average home price is roughly two-and-a-half times the national average, buying your first home is more than a little daunting. Continue Reading >>
Last month over 3,000 real estate agents from around the United States convened in Dallas, Texas for their annual meeting. This four-day event is a time in which agents from around the country gather to discuss the state of the real estate business as well as attend seminars and discussion groups as to how to improve and manage their real estate business, and to discuss the state of the real estate market nationwide.
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WHAT IS AN ESCROW?
An escrow is a deposit of funds, a deed or other instrument by one party for the delivery to another party upon completion of a specific condition or event. It is an independent neutral account by which the interests of all parties to the transaction are protected. When opening an escrow, the buyer and seller of a piece of property establish terms and conditions for the transfer of ownership of that property.
To Stage or Not To Stage?
I recently had a lengthy conversation with stager Kimberly Behling from UpStage LA, a local home staging company. We talked about the pros, cons and facts about staging a home for sale.
Matt: What does it cost to stage a house in Los Angeles?
Spring is one of the busiest times of the year when it comes to selling and buying houses. Every spring home buyers flood the market in response to the slow pace of the winter and holiday months. In response, home sellers begin listing their picturesque houses with blooming flower beds and luscious lawns early in the Spring.
While both of these factors should lead to quick the quick close and a happy home seller the reality is quite different. While listing your house in the Spring is hugely advantageous, there are a few disadvantages that could set you back if you’re not properly prepared.
Sherman Oaks and Studio City homes are starting to experience the early signs of El Niño. Weather forecasters are predicting that the 2016 El Niño is going to surpass that of the ’97-’98 storm that terrorized Southern California almost two decades ago. As El Niño starts to bring in heavy rain, 2016 is predicted to mark the biggest El Niño yet.
On this month’s segment of Real Talk with Matt Epstein, I had a Q&A with Judy Rachel, Home Performance Professional. During the interview we talk about home efficiency, better quality of living and the benefits of having an energy efficient home. Who’s Homes Needs an Efficiency Upgrade?
All of them. Believe it or not, almost all homes need energy upgrades, even new constructions. Current building models focus on LEED Certification and greener living. While these applications bring in huge benefits for energy efficiency in your homes hardware, they don’t necessarily focus in on the micro-factors that plague most households.