Market Trends

New Year, New Market

After a long and earlier than usual election-fueled seasonal slowdown, the market has bounced back in December and especially in January. Even heavy rain won’t stop these buyers who come from far and wide looking for that perfect $1M starter home in Silicon Beach. Despite the change in presidential philosophy and higher interest rates, the […]

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Shadow Inventory Watch

Year over year median sold prices for condos in Playa Vista have increased by about 9% from October 2015-October 2016 per Core Logic published statistics. This would indicate to an outside observer that it is still a seller’s market and housing is strong. In analyzing data to look for future market trends, like I often […]

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State of the Playa Vista Market – October 2016

It’s been a wild ride for the housing market over the past 5, 10, 15 years. Whatever time frame you are looking at, there have been very few extended periods of flat housing conditions: 2001-2006: Boom Times – Large price increases due to strong demand, albeit somewhat artificially inflated conditions due to non-existent loan guidelines and […]

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2016 Will Be The Year The Inventory Returns

For the past 3+ years, the Playa Vista market has been characterized by an extreme lack of inventory. This has been the largest reason prices have increased more than 50% during this time. Bidding wars have led to a “do whatever it takes” mentality, and each time a new, higher priced comp is set. This has […]

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State of the Playa Vista Market

There’s only one word to describe the recent run up in housing prices in Playa Vista – unbelievable! Homes such as an Asher plan 3 which sold new a year ago in the $1.6’s, recently closed for $2,250,000.  Tapestry homes are selling for $250-$300K more than the same models traded for last year. Entry level […]

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Buyer Loyalty is a Two-Way Street

In my 9 years as a broker, my database has not always been flush with clients. Starting out in early 2006 was challenging since it takes time for seeds to grow.  Being new to town and looking much younger than my age of 26 did not help.  Just as I started to get a pretty good […]

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Inventory Watch and Market Trends – December 2014

For the third straight year, resale inventory in Playa Vista is approaching single digits as we move toward the end of the year with only 12 resales listed as “active” per the MLS.  It is more surprising this fall since hundreds of new phase II homes have been completed and sold and the expectation had […]

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Interest Rates Need To Go Up

At this point the government has done all they can to stimulate housing and they have done a good job.  Financial incentives for buyers, encouraging banks and underwater homeowners to do short sales, refinances and principal reductions to prevent some foreclosures.  Great job, gov’t, but we need to take a step back and cut housing from the proverbial […]

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As Market Rebounds, Overpriced Listings Return

We are starting to see a resurgence of overpriced listings, not just in Playa Vista, but everywhere.   Back in the good ol’ days, (2000-2005), people would overprice their homes and buyer’s would get in line to pay.  Who could blame them?  It was what the market would bear.  Buyers who purchased to the end of […]

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HOA Dues and Buyer Perception of Value

It is no secret that Playa Vista has higher than average HOA dues for Los Angeles with combined dues ranging from high $400’s/month to low $1,000’s/month.   While you tend to get what you pay for, this added cost, which people argue is not tax deductible, clearly has an effect on buyer perceptions, possibly more than purchasing […]

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