Federal Reserve Chair Jerome Powell suggested the central bank is getting close to the confidence it needs to start lowering interest rates, bolstering the idea that such a move could come in the next few months. He told lawmakers that rate reductions “can and will begin” this year, adding that policymakers are well aware of the risks of cutting too late. Powell’s comments sent benchmark 10-year Treasury yields to a one-month low. The Fed Chair also told Congress that the threat to the US banking system from mounting bad commercial real estate loans is manageable. He noted the Fed is talking with lenders to make sure they are on top of potential losses. Speaking before the Senate Banking Committee on Thursday, U.S. Senator Jon Tester of Montana asked Powell for his take on the U.S. housing market. Powell told him that, “There are two big things going on. One is we have this big underlying shortage of housing and it’s due to things like difficulties in zoning… it’s more difficult for builders to get labor and materials. Then there are a ton of things happening because of the pandemic and because of inflation, because of higher rates, and those in the short-term are weighing on the housing market. But as mortgage rates come down, and that all goes through the economy, we’re still going to be back to a place where we don’t have enough housing.” The Fed’s favored inflation measure showed that annual inflation continues to progress lower, albeit slowly. And while the weather and mortgage rates impacted signed contracts for homes in January, key home price indexes revealed that 2023 was another strong year for appreciation. Here are the headlines:
Fed’s Favored Inflation Measure in Line with Forecasts January’s Personal Consumption Expenditures (PCE) showed that headline inflation rose 0.3% for the month, with the year-over-year reading falling from 2.6% to 2.4%. Core PCE, the Fed’s preferred method which strips out volatile food and energy prices, rose by 0.4% monthly. The year-over-year reading fell from 2.9% to 2.8%, pushing this important metric one step closer to the Fed’s 2% target and its lowest level in almost three years!  These PCE readings were in line with expectations, which was welcome news after previous inflation reports for January (Consumer and Producer Price Indexes) were hotter than expected. Though the hot 0.4% monthly reading for Core PCE is something to keep an eye on. Was this a one-off or the start of a trend? What’s the bottom line? The Fed has been working hard to tame inflation, hiking its benchmark Fed Funds Rate (which is the overnight borrowing rate for banks) eleven times between March 2022 and July 2023. These hikes were designed to slow the economy by making borrowing more expensive, lowering the demand for goods, and thereby reducing pricing pressure and inflation. Inflation has moved lower after peaking in 2022, with the headline reading at 2.4% (down from 7.1%) and the core reading at 2.8% (down from 5.6%). Fed Chair Jerome Powell has stressed that while the Fed is “committed to returning inflation to 2% over time,” Fed members won’t “wait to get to 2% to cut rates.” The question remains: When will the Fed think inflation has moved low enough for them to start cutting the Fed Funds Rate later this year? New Home Sales Jump in January  New Home Sales, which measure signed contracts on new homes, were up 1.5% from December to January, marking the second consecutive month sales increased. Signed contracts were also 1.8% higher than they were in January 2023. What’s the bottom line? January’s modest increase wasn’t as large as economists had forecasted, as frigid temperatures around much of the country likely kept some potential buyers home last month. However, demand for new construction remains strong due to the persistent shortage of existing homes for sale. On that note, more “available” supply is needed to meet buyer demand, especially as we head into the busy spring homebuying season. While there were 456,000 new homes available for sale at the end of January, slightly higher than the 452,000 seen in the previous report, only 80,000 were completed, with the rest either under construction or not even started yet. Pending Home Sales Pull Back  Pending Home Sales fell 4.9% from December to January per the National Association of REALTORS® (NAR), coming in below expectations. Sales were also 8.8% below the level reported in January 2023. Pending Home Sales measure signed contracts on existing homes, making them an important forward-looking indicator for closings as measured by Existing Home Sales. What’s the bottom line? “The job market is solid, and the country's total wealth reached a record high due to stock market and home price gains,” said NAR Chief Economist Lawrence Yun. “This combination of economic conditions is favorable for home buying. However, consumers are showing extra sensitivity to changes in mortgage rates in the current cycle, and that's impacting home sales.” Home Values Continue to Move Higher  The Case-Shiller Home Price Index, which is considered the “gold standard” for appreciation, showed home prices nationwide rose 0.2% from November to December after seasonal adjustment. Home values in December were also 5.5% higher than a year earlier, with S&P DJI’s Head of Commodities, Brian D. Luke, noting that the index “continued its streak of seven consecutive record highs in 2023” and “ten of 20 markets beat prior records.” The Federal Housing Finance Agency’s (FHFA) House Price Index also saw home prices rise 0.1% from November to December and 6.6% year-over-year, with their index setting new record highs in home prices every month since February. Note that FHFA’s report measures home price appreciation on single-family homes with conforming loan amounts, which means it most likely represents lower-priced homes. FHFA also does not include cash buyers or jumbo loans, and these factors account for some of the differences in the two reports. What’s the bottom line? Last year was a strong one for appreciation, with the final numbers for 2023 showing that home prices were up 5.5% per Case-Shiller and 6.6% per FHFA. Previous reporting from Black Knight (5.6%) and CoreLogic (5.5%) also reflected similar home price growth for last year. These indexes show that homeownership continues to provide opportunities for building wealth through real estate. Unemployment Claims Rise During Latest Week Applications for new unemployment benefits rose by 13,000 in the latest week, as 215,000 Initial Jobless Claims were filed. Continuing Claims also rose 45,000, with 1.905 million people still receiving benefits after filing their initial claim. What’s the bottom line? While Initial Jobless Claims are still relatively low, Continuing Claims have been trending higher, with this latest reading the second highest since November 2021. The data shows that employers are still trying to hold on to workers, but once people are let go it’s more challenging for them to find new employment. What to Look for This Week We’ll get more appreciation data when CoreLogic releases their Home Price Index for January on Tuesday. Then, labor sector data will dominate the headlines, starting Wednesday with the JOLTS (job openings) report for January and February’s ADP Employment Report, which measures private payrolls. The latest Jobless Claims will be released on Thursday, while Friday brings February’s Jobs Report from the Bureau of Labor Statistics, which includes Non-farm Payrolls and the Unemployment Rate. Technical Picture Mortgage Bonds broke above the formidable 100.428 Fibonacci ceiling that has kept a lid on prices since mid-February. Bonds have more room to the upside until reaching the next ceiling of resistance at the 25-day Moving Average. The 10-year ended last week challenging a dual floor comprised of the 200-day and 25-day Moving Averages at around 4.18%. 
The Dream For All Shared Appreciation Loan is a down payment assistance program for first-time homebuyers to be used in conjunction with the Dream For All Conventional first mortgage for down payment and/or closing costs. Upon sale or transfer of the home, the homebuyer repays the original down payment loan, plus a share of the appreciation in the value of the home. Shared Appreciation Shared Appreciation is a little more complex than a typical mortgage loan, so we’ve put together a few examples for you. Shared Appreciation Examples: Example #1  Borrower is a CalHFA income homebuyer
Example #2  Borrower income less than or equal to 80% AMI using the HomeReady Lookup Tool
Current Mortgage Rates
February 3, 2023 Purchase Los Angeles County 80% financing Jumbo 30 year fixed 6.375% APR 6.412 Jumbo 7/1 ARM 5.875% APR 5.974 Purchase Los Angeles County 80% financing Conforming 30 year fixed 6.5% APR 6.524 Conforming 7/1 ARM 6% APR 6.024  2023 RECAP: There are two big real estate takeaways from 2023: 1) Interest rates went through the roof. 2) The number of homes for sale continued to languish at all-time record lows. If you were a Buyer in 2023, you had a very tough year. Interest rates soared to as high as 8% yet home prices continued to rise. Surprisingly, median home prices rose about 4% from the year before. If you were a homeowner in 2023, you likely decided not to sell unless you absolutely had to. Most homeowners refinanced their home loans when interest rates were at record low rates of 3% or less. If you thought about selling, you quickly realized that after you sold, the interest rate on your new loan would be double or triple. As a result, some homeowners probably feel a bit trapped in their homes. They'd like to sell but the idea of a much higher interest rate with a much higher monthly payment is a deal breaker. My thought is that this situation has created what I call "pent-up seller demand" which isn't an official term but hopefully, you get the idea. IS CHANGE IN THE AIR? In the last few months of 2023, the interest rates started to come down a bit. The current interest rate is about 6.375% and interest rates are predicted to continue to go down during 2024. How low will rates go? Unfortunately, my crystal ball is not crystal clear on that detail. In the past few months, there has been a slight uptick in the number of homes for sale and the average SOLD price has also decreased just a bit. It's too soon to tell if this is the beginning of a trend or just a blip on the radar. If interest rates continue to come down, that might help more Sellers who were on the fence, decide to sell. BOTTOM LINE: It seems most likely that in 2024 could be the beginning of a turnaround for Buyers. - Interest rates trending down - More Sellers deciding to sell - Home values stabilizing (and maybe even trending down a bit) *NOTE: As of January 5th, 2024, the 30-year, fixed rate conforming loan ($766,550 max loan principle) = 6.375%  
The Fed left rates unchanged at their meeting last week. This followed news that inflation at both the consumer and wholesale levels continued to cool in November. Here are the headlines:
Fed Pivots, Signals Rate Cuts Are Ahead  After eleven rate hikes since March of last year, the Fed once again left their benchmark Federal Funds Rate unchanged at a range of 5.25% to 5.5%. This decision was unanimous and followed similar pauses taken at their September and November meetings. The Fed Funds Rate is the interest rate for overnight borrowing for banks and it is not the same as mortgage rates. The Fed has been aggressively hiking the Fed Funds Rate throughout this cycle to try to slow the economy and curb the runaway inflation that became rampant last year. What’s the bottom line? At his press conference following the meeting, Fed Chair Jerome Powell acknowledged the “very good news” that “inflation has eased from its highs,” though he noted that ongoing progress “is not assured.” While the Fed did not rule out additional rate hikes if warranted to keep inflation in check, last week’s meeting suggested that rate cuts are ahead next year. The “dot plot” of Fed member forecasts for where policy rates will be in a year showed that 15 out of 19 members expect cuts between 50 and 100 basis points over the course of next year. Continued Progress on Consumer Inflation  November’s Consumer Price Index (CPI) showed that inflation rose 0.1% compared to October, just above the consensus estimate of a flat reading. On an annual basis, CPI fell from 3.2% to 3.1%, near the lowest level in more than two years. Core CPI, which strips out volatile food and energy prices, increased 0.3% while the annual reading remained at 4%, a two-year low.
Declining energy prices helped keep inflation in check last month, even in the face of rising costs for used cars, motor vehicle insurance, and health insurance. What’s the bottom line? Inflation has made significant progress lower after peaking last year, with the headline reading now at 3.1% (down from 9.1%) and the core reading at 4% (down from 6.6%). The Fed will be closely watching for further progress on inflation as they consider pivoting to rate cuts next year. Wholesale Inflation Also Cooled The Producer Price Index (PPI), which measures inflation on the wholesale level, was flat in November. On an annual basis, PPI declined from a downwardly revised 1.2% to 0.9%, which was lower than expected. Core PPI, which also strips out volatile food and energy prices, was flat for the month with the year-over-year reading down from 2.3% (also downwardly revised) to 2%. What’s the bottom line? This latest PPI report is another encouraging sign that inflation is easing, with November’s 0.9% year-over-year reading a sharp drop from last year’s 11.7% peak. Plus, PPI tends to lead the way for CPI, which suggests further good progress moving forward. Retail Sales Stronger Than Expected After falling in October, Retail Sales rebounded in November, with the 0.3% rise coming in above expectations of a 0.2% decline. Sales were also up 4.1% when compared to November 2022. What’s the bottom line? While slumping energy prices caused a decline in sales at gasoline stations, lower gas prices also freed up money for consumers to spend on other items. In fact, Retail Sales rose across most categories last month, with online shopping especially seeing a boost as sales at non-store retailers rose 1%. Overall, the data shows there was a strong start to the holiday shopping season as inflation continues to ease. Initial Jobless Claims at 2-Month Low Initial Jobless Claims fell by 19,000 in the latest week, with 202,000 people filing for unemployment benefits for the first time. Continuing Claims rose by 20,000, showing that 1,876,000 million people are still receiving benefits after filing their initial claim. What’s the bottom line? The low number of Initial Jobless Claims suggests that layoffs remain muted as employers are trying to hold on to workers. Yet, Continuing Claims reached their second highest level since November 2021. This figure has been rising sharply and points to a weakening labor market, where it’s much harder for people to find employment once they are let go. What to Look for This Week Look for a plethora of housing data starting Monday with builder confidence for this month from the National Association of Home Builders. November’s Housing Starts and Building Permits will be reported on Tuesday, followed by Existing Home Sales on Wednesday and New Home Sales on Friday. Thursday brings the latest Jobless Claims, the final reading for third quarter GDP and regional manufacturing data from the Philadelphia Fed Index. Ending the week on Friday, look for Personal Consumption Expenditures, the Fed’s favored inflation measure. Technical Picture Mortgage Bonds have had a beautiful rally over the last two months and are now significantly above their 200-day Moving Average. They ended last week squeezed in a narrow range between support at the 101.392 Fibonacci level and overhead resistance at 101.61. The 10-year ended the week trading around 3.91% and has room to move lower until reaching the next floor of support. Change is coming to the real estate business following a big legal win for home sellers.  An October jury ruling against the nation's largest trade organization could have sweeping consequences for anyone looking to buy or sell a home. The class-action lawsuit – Sitzer v. the National Association of Realtors – alleged that NAR, Keller Williams Realty, Anywhere Real Estate (formerly known as Realogy), RE/MAX and HomeServices of America (all major real estate brokerages), colluded to artificially inflate agent commissions. RE/MAX and Anywhere Real Estate (formerly known as Realogy) earlier this year settled out of court for a combined $140 million. A jury ultimately sided against the remaining defendants on Oct. 31, awarding a judgment of $1.8 million that could, depending on the judge’s decision, surge to over $5 billion in total damages. “They ultimately agreed that there was a conspiracy among Realtors to keep their fees artificially high,” says Omar Ochoa, a class action attorney and founder of Omar Ochoa Law Firm in Texas. It’s just the latest hit for the 1.5-million-member group of real estate agents, which has recently faced several lawsuits (including one from the Department of Justice) regarding harassment accusations, executive shuffles and a surge of pullouts from big-name brokerages, like RE/MAX, Century 21, Redfin and more. It also has the power to forever change what it costs to buy and sell real estate. As Richard Kruse, an agent with Gryphon Realty in Columbus, Ohio, and former member of NAR, puts it, “The fight will go on and an appeal will be filed and drag this out, but eventually agent payments will change.” What Was the NAR Lawsuit About? It’s a little complicated, but the basis of the NAR lawsuit boils down to the group’s commission-sharing rule. To list a for-sale property on a multiple listing service – the databases that agents use to share properties amongst themselves – they must offer a commission to the agent who ultimately brings in the winning buyer. Historically, this has resulted in a 5% to 6% commission, with half going to the seller’s agent and half to the buyer’s. Here’s the catch, though: The buyer doesn’t pay their agent’s fee directly. Instead, the commission is fully paid by the seller as part of their closing costs. According to the Sitzer suit, as well as other litigation, this amounts to a form of antitrust, reducing competition and pushing up commissions higher than services warrant. “The jurors were convinced by the plaintiffs’ attorneys that an environment of collusion existed with the industry, enabled by NAR’s practices, and that buyers should be free to negotiate fee structures separate from that established in listing agreements with sellers,” says Budge Huskey, CEO and president of Premier Sotheby’s International Realty in Naples, Florida. (To be clear: Huskey does not agree with the jury’s verdict.) What’s Next? While the jury has ruled in the Sitzer case, the judge, Stephen Bough, has yet to finalize damages. Once he does, those damages will be divvied out among the thousands of home sellers who participated in the class action lawsuit. That may take a while, though, as Kruse suggested, NAR plans to appeal the decision. “This matter is not close to being final as we will appeal the jury’s verdict, and we remain confident we will ultimately prevail,” NAR president Tracy Kasper said in a statement. “Due to the nature of appeals, this case likely will not be concluded for several years.” There’s a chance the case could be settled outside of court before those appeals wind through the courts. As Ochoa explains, “They're going to continue to fight the amount awarded, liability, that the class isn't a proper class or whatever kind of legal means that they can do to unwind the judgment either altogether or at least substantially reduce it. While all that's going on, generally speaking, the parties are probably going to discuss settling the case. It may be in their interest to reach some resolution instead of waiting for years for the judgment to make its way through the appellate system.” What It Means for Buyers and Sellers
Eventually, the lawsuit may lead to changes in how agent commissions are set and paid out. According to Kruse, the commission-sharing model could evolve into a referral fee system. “In my opinion, there will be something in the form of a referral fee from the listing agent to the buyer agent for introducing the buyer to the property,” he says. It could also mean an end to commission sharing altogether. A recent report from consulting firm Keefe, Bruyette & Woods projects this “unbundling” could occur as early as 2024. It could result in commission decreases as much as 2 percentage points or more. “The new buzzword for real estate will be ‘decoupling,’” says Sissy Lappin, a real estate agent and co-founder of ListingDoor in Houston. “The seller will pay their agent and the buyer will pay theirs.” How that decoupling will play out is uncertain. Some experts say buyer’s agents may resort to flat fees or hourly rates. Others say variable fees may be more fitting, as services and time spent with each consumer can vary widely. “There may be a variable buyers' agent fee that is determined when a buyer goes under contract or how many showings they've requested and viewed,” says Steve Nicastro, a real estate agent and content lead at Clever Real Estate in Charleston, South Carolina. “This could better align pay with the work required from buyer's agents. For example, imagine a scenario where a homebuyer pays an agent $50 to $100 per house showing, and then another fixed rate for specific services related to completing the transaction – finding and hiring home inspectors, appraisers, attorneys, etc.” Nicastro says there could also be a larger move toward using real estate attorneys – rather than agents – or more buyers going it alone entirely. That all remains to be seen, though. In the meantime, consumers can likely expect more transparency as they go about buying and selling properties. In fact, in the wake of recent litigation, NAR has already released guidance that Realtors should no longer market their buy-side services as “free” and that shared commissions must be “disclosed openly.” As Laura Ellis, president of residential sales at Chicago-based real estate firm Baird & Warner, explains, “At its core, this issue is about being transparent, taking responsibility and earning consumers' trust.” 
Recent Updates to ADU Laws
in California Recent California legislative bills have paved the way for changes in the housing market, as the state grapples with a severe housing shortage. Assembly Bill 1033 (AB 1033) and Assembly Bill 976 (AB 976) which were both signed by Governor Newsom this week, may have substantial implications for Accessory Dwelling Units (ADUs), also known as "granny flats" throughout the state of California. Here's a breakdown of the key provisions in these bills: AB 1033 - ADUs Sold Separately What it Does: AB 1033 enables property owners in select cities to construct ADUs on their property and sell them independently, akin to condominiums. The Workings: Owners building ADUs must notify local utilities about the creation and separate conveyance of these units. A homeowners association must be established to manage the maintenance costs of shared spaces and the property's exterior. Property taxes for the primary residence and the ADU will be billed separately. The Goal: AB 1033 could increase what some refer to as gentle density in many cities - ie the development of single-family type units (e.g., ADUs, duplexes, etc.) within single-family zoned neighborhoods. Gentle density helps maintain the residential façade and aura of neighborhoods while assisting in the offsetting of the growing housing crisis. The passing of AB 1033 could additionally provide more affordable for-sale housing opportunities for low-mid income first-time homeowners. AB 976 - Removes Owner-Occupancy Requirement What it Does: AB 976 will permanently extend the ability of property owners to build rental accessory dwelling units (ADUs) in addition to removing any owner-occupancy requirements. The Workings: The Bill removes owner-occupancy requirements that prohibited ADU construction unless the owner lived in either the main house, or the ADU. When owner-occupancy requirements were temporarily removed in 2017, ADU construction grew massively, resulting in thousands of new rental homes across California. The Goal: This change allows ADUs to be used strictly for rental purposes, with the goal of expanding the rental housing market in California. Additionally, removing owner-occupancy requirements could facilitate the process for owners to use loans or their home equity to add ADUs to their existing properties. In Closing These legislative changes have the potential to substantially impact the housing landscape in California. While some critics argue that these laws may curtail the regulatory authority of local jurisdictions, proponents view them as critical for increasing housing supply and affordability. These laws aim to facilitate more accessible and cost-effective housing options for a wide spectrum of residents, from retirees looking to augment their income to young families aspiring to acquire their first home. With the passing of these two bills, California is slowly but surely taking steps toward addressing its housing challenges to foster a more promising future for its residents. This article is provided for informational purposes only and should not be considered legal advice. The information provided is subject to change at any time without notice. 
 THE LOS ANGELES EVICTION MORATORIUM IS COMING TO AN END NOW WHAT? After about 35 months, the LA City eviction moratorium is coming to an end. Tenants will be losing protections that has kept a roof over their head throughout the pandemic. Landlords will no longer be restricted from evicting tenants who were unable to pay their rent during the pandemic. Whether you are tenant or a landlord, this is a big deal! Here is a summary for your review:
Contact us if you have any questions, we are happy to help!   107 S. Gramercy Place Los Angeles, CA 90004 Offered at $1,430,000 Nestled between Koreatown and Larchmont Village this amazing home combines timeless charm with modern upgrades. The romance starts as you approach the classic front porch with the 112-year old, cross-cut red-oak door with leaded-glass and original hardware. Enter this home and become captivated by the original built-ins, wainscotting, coffered ceilings and stunning fireplace. The original wood floors exude warmth and the picture rail throughout is so charming:) Relax in the fully-fenced back yard under the shade of the California Pepper tree or dine al fresco on the deck. Don’t miss the detached guest quarters that’s also a perfect home office.  
       Airy, light, color-filled... shapes, playful, fun.. mid-century vibe, retro-funk, eclectic feel. These are just some of the words/phrases that come to mind for this uber-special Mount Washington home. Experience the magical pleasure of sharing the treetops with song-birds, humming birds, hawks and even the resident owl as you soak in the jetliner views from your back deck. Drift off into peaceful meditation listening to the rustling leaves of the eucalyptus tree that you can reach out and touch. So many different outdoor spaces to enjoy - each with its own vibe and energy. Enjoy the start of your day as the sun is just about to rise and look out at the distance - feeling connected to the beat of the city while in the quiet-calm of your retro-kitchen. BTW- this home is fabulous for entertaining and parties with a guarantee that your guests will be impressed with your amazing views. But wait - there’s more - The 431sqft garage happens to make a great place for the band to set up and play in an intimate lounge setting - just imagine the legendary holiday parties!! So close to soooo much including Dodger Stadium and DTLA, Silver Lake, South Pasadena, Hollywood and Griffith Park. Explore local culinary treats from picking the fruit trees that overhang “Tillie Stairs” to the delicious barbecue chicken cooked fresh on the weekends at Super-A Market - ask them to chop it up and bring it with you when you visit friends - they will love you:) WORK FROM HOME?? This home provides the ideal set up... One side of this special home has a staircase that provides “direct-entry” to a bedroom - perfect for your home office so that guests/clients can visit while you maintain complete privacy to the rest of your home. WANNA EARN SOME SERIOUS EXTRA $$$? You can have that too! The other side of this home has a staircase that leads directly to the ~750sqft airbnb/rental unit with 2-bedrooms + 1-bathroom - easily earn $4k per month... DID YOU KNOW? At today’s low interest rates $4k per month will cover ~$950k of your mortgage payment? Believe it or not “$950k” is not a typo - It’s true... $4k per month = Financial Freedom:)                              Our first ever Explore NELA was a community hike through the secret stairs of Glassell Park that ended with some freshly brewed coffee and sweet treats at Habitat Your Neighborhood Coffee Shop! Special thank you to Jenna Turner, owner of Habitat for the free coffee and goodies!         Lovable meets livable within the walls of this picturesque 1909 Craftsman. This soothing, gardened retreat is centrally located near Larchmont Village, a stone’s throw from Hollywood, Koreatown and Silver Lake. A timeless original, built before the first film studios in L.A., that’s been continuously modernized for comfort, convenience and home-office needs. As you walk through the floral pergola and up the front steps, you glance at the inviting porch and head for the stately cross-cut oak door. Once inside, your eyes soak up features like the stained-glass chandelier, formal dining room, brick fireplace, ample built-in storage, wainscoting and picture molding, distinctive to the period’s architectural style. Down the hall, two bedrooms and a full bath flank the Spanish-tile kitchen featuring updated stainless-steel appliances like a professional-grade oven. Behind the kitchen sits the laundry room with back door and stairs down to the California basement, perfect for storage or a workshop. At the end of the main hallway, enter the bright and airy deluxe master suite, with en-suite bath, walk-in closet and a French door that opens onto the deck. Stand under the deck’s pergola and survey the lush garden and shade-giving Peruvian pepper tree. The space is full of opportunities for outdoor dining, play and new growth in the raised beds. At the far end of the yard sits the detached, climate-controlled home office (or guest quarters?), complete with its own bath. The scent of wisteria, roses, orange blossom, lavender and rosemary fill the air. Central A/C, smart thermostat and sprinkler system, updated electrical, foundation, chimney and sewer line rejuvenate this heirloom home.         Stand under the decks pergola and survey the lush garden and shade-giving Peruvian pepper tree. The space is full of opportunities for outdoor dining, play and new growth in the raised beds. At the far end of the yard sits the detached, climate-controlled home office (or guest quarters!), complete with its own bath. The scent of wisteria, roses, orange blossom, lavender and rosemary fill the air.      The neighboring grandeur of Windsor Square and Hancock Park make for charming walks to Larchmont (farmers market, coffee shops) and beyond. Other walkable destinations include the historic Wilshire Branch Library, the Purple Line Metro station, and the sparkling new YMCA for a swim or workout. Just a 5-minute drive to Paramount Studios, or 10-minutes to Silver Lake and Fairfax/The Grove. This home is notably zoned to top-rated 3rd Street Elementary.        Wrap yourself up in the warmth and charm of this true, mid-century home that was built by the father of the current owner 54 years ago. This legacy home has been lovingly maintained and restored over the years with the sensibility of an artist. Evoking a strong feeling of being immersed in nature, this home has expansive outdoor spaces, ideal for relaxing and entertaining. Enjoy the STUNNING views of city, LA River and San Gabriel mountains, along with visits from hummingbirds, hawks, owls and a Bewik‘s Wren can be heard singing. Open floor plan with exposed beams and high ceilings combined with views of the outdoors creates and expansive feel. Nurture your creative juices in the detached art studio or the spacious three car garage. Plenty of options to create an ADU with its own separate and gated driveway. Enjoy all that Silver Lake has to offer with trendy restaurants, shops and proximity to Griffith Park. Also within the highly sought-after Ivanhoe Elementary school district. AND don‘t forget the “Gazillion Dollar” view!              - 2-bedroom + 2-bathroom (public records indicate: 2-bedroom +1-bathroom) - Living Space: 1,535sqft measured (public records indicate: 1,180sqft) - 3-Car Garage: 645sqft measured - Studio: 310sqft measured - LOT: 31,307sqft - Year Built: 1957 - APN: 5434-024-014 - True mid-century home built using new ideas of the time about modern architecture - Legacy home built by the father of the current owner 54 years ago - Lovingly cared for and restored over the years with the sensibility of an artist - Entertainers delight with expansive and numerous outdoor spaces - Feel like you are living in the trees and immersed in nature - Exposed beams with open floor-plan creates a spacious feeling - High ceilings with triangular windows in master bedroom with views of greenery and flowering plants - Direct patio access from all bedrooms - Strong feeling of connection with the outdoors - Every room has outdoor views creating an expansive feel - Stunning views of city, LA River and San Gabriel mountains - HUGE lot presents a “sense of adventure” for children to explore - Owner and later her child grew up playing on the hill - Meyer lemon, pomegranate, avocado, guava trees - Incredible wildlife visits including hummingbirds, hawks, owls and Bewick‘s Wren always singing - Detached artist studio with its own, separate, gated driveway entrance - Huge 3-car garage with additional outdoor parking for up to six additional cars - Highly sought-after Ivanhoe Elementary school district - Enjoy all that Silver Lake has to offer with trendy restaurants, shops and Griffith Park - Gazillion Dollar Views!!     3708 Burritt Way Crescenta Highlands 91214 List Price: $1,088,000 3-bedroom + 2-bath 1,352sqft Living Space Lot: 7,104sqft Year Built: 1956: APN: 5601-006-007    Location, Location, Location Highly sought after "Crescenta Highlands" Community Quiet Tree-Lined Street Pride of ownership exudes throughout this family home Incredible Natural Light Renowned Blue-Ribbon Schools So close to nature yet freeway friendly location too Fully-fenced rear yard with "no maintenance" vinyl fencing Resort-like living Flat Lot in hillside community Basketball court Built-in Swimming Pool w-both gas and solar heating Jetted-Spa Fountains and water features and underwater lights Complete outdoor kitchen w-BBQ, EVO GRILL accent lights 1,000MB fiber-optic internet service Home office with direct entry through garage Home Security System RV Parking Direct Entry to Home Office keeps your home private Dog Run New Roof 2019   If you're looking for a home that requires lots of maintenance & repairs then this ABSOLUTELY BEAUTIFUL "Crescenta Highlands" MID-CENTURY STUNNER is definitely NOT FOR YOU! But if you're looking for your own private oasis & resort complete w-home office w-1,000MB fiber-optic internet service then look no further. Get ready to be impressed. This home is packed with so many bells & whistles & technology that there's not room to mention them all - from the remodeled kitchen w-soft-close drawers, Amtico wood floors, great natural light, to the built-in pool with both solar and gas heat, Jetted Spa, Complete outdoor kitchen including an EVO GRILL (look it up:) - YOU CAN HAVE IT ALL! Security system, Dog Run, Quiet tree-lined street, flat lot, amazing community, Blue-Ribbon schools, Stunning mountain views, sunsets, humming birds. SO CLOSE to nature yet freeway friendly. Pride of ownership is an understatement - incredible thoughtfulness went into all the features and upgrades - this home so convenient & designed for easy living. An entertainer's dream that runs on auto-pilot! Welcome Home to 3708 Burritt Way:)        Gorgeous Home Located One Block From Occidental College In Highland Park With A Brand New ADU!10/1/2020 CASH-COW! Honey STOP THE CAR This is the one you‘ve been waiting for! LOCATION, LOCATION, LOCATION with a brand new shiny ADU to boot! Only a block from the Occidental College campus and a few short blocks to the corner of York & Avenue 50 which is the epicenter of all that is hot and happening in Highland Park! The 3+2 main home (1,360sqft living) was recently remodeled with an open floor plan, amazing natural light and even your very own raised-garden beds in the yard! There is a champion navel orange tree that will impress along with other mature fruit trees and lush landscaping that will put a smile on your face. The 2+1 ADU (656sqft living) is TOTALLY private from the main home (even has it‘s own separate driveway entrance from rear alley) and perfect for Oxy student rental at $2,200/month or more- at today‘s interest rates, that will cover about $500,000 of your mortgage payment. THE ADU is BRAND NEW - just permitted and ready for you to enjoy. An amazing opportunity for the lucky buyer!   MAIN HOUSE: 3+2 w-1,360sqft living (measured) Year Built:1922 ACCESSORY DWELLING UNIT: 2+1 w-656sqft living (measured) Direct Access from back ally with separate off-street parking 2020 Certificate of Occupancy GARAGE/STUDIO (detached): 420sqft (measured) Lofted Ceiling JADU TOO?? ("Junior" ADU) 👉 CLICK HERE FOR MORE PHOTOS 👈 Location, Location, Location! One Block from OXY campus Very Close to York & Avenue 50 which is the epicenter of all that‘s hot and happening in Highland Park CASH FLOW! ADU INCOME can help pay for about $500k of your mortgage It‘s like getting the 3+2 main home for $500k off the price ADU is TOTALLY PRIVATE from the main home with a totally separate entry from rear alley and it‘s own secure parking Main Home Recently Remodeled Open Floor Plan Abundant Natural Light Separate TWO-CAR GARAGE (420sqft) has lofted ceilings and could be an awesome studio space OR A "JADU"?? ("Junior" ADU) Mature fruit trees including champion navel orange and delicious guava, lemon, calamansi and kumquat Lush Landscaping will put a smile on your face:) PARKING GALORE: gated driveway offers secured parking up to 6 cars 👉 CLICK HERE FOR 3D VIRTUAL TOUR 👈          Buying or Selling Real Estate? Contact Us Today! Brian Fitzburgh Real Estate Broker / RErescue Founder 818-571-9712 [email protected]  3639 Cazador Street Glassell Park Hills 90065 HOW LUCKY ARE YOU to be able enjoy the amazing VIEWS and call this completely re-imagined contemporary stunner YOUR home? It's another beautiful morning in the incredible Glassell Park Hills - one of the most desirable pockets in our NELA community. Soon after sunrise and a great walk down to the oh so popular "Lemon Poppy" you find yourself headed back home while enjoying amazing vistas all along the way! Time to soak in the early morning beauty while relaxing on your deck overlooking tranquil Moss Canyon with iconic Griffith Park Observatory on display in the distance. 👉 CLICK HERE FOR MORE PHOTOS 👈 THIS IS NOT A FLIP - rather pride of ownership abounds throughout. Thoughtfully designed for today's modern lifestyle with ease of living, thoughtful spaces and details throughout. Don't miss the DREAM KITCHEN that built for performance and won't disappoint as you prepare delicious food for your family and guests. But wait - there's more!! NEW FOUNDATION + NEW SEWER LINE + NEW 50-Year COOL ROOF... Is it crazy to think that a new foundation and a new sewer line AND a new "50 year cool roof" are worth getting excited about?? With a total of 4-bedrooms there's plenty of space for a guest bedroom AND home-office WITH DIRECT ACCESS so any work related guests can come right in with the privacy of your home being maintained. AND this "street-to-street" lot means extra privacy and never having to worry about your view getting blocked in the future - MAYBE an ADU with direct access from Richardson Drive below? Listen to the coyotes howl at the full moon as it sets over Griffith Park while the shadows and moonbeams comfort you in your master bedroom with your head resting on the pillows. Enjoy walks in the Glassell Park hills with endless possibilities and combinations of streets/trails/public stairways and views in every direction. Fabulous sunsets highlighted by city lights coming on in the distance... WELCOME HOME:) 👉 CLICK HERE FOR THE 3D VIRTUAL TOUR 👈        Property Details: 4-bedroom + 3-bathroom 1,872sqft Living Space 4,240sqft LOT Year Built: 1939 APN: 5462-016-016 Completely re-imagined contemporary stunner Designed for modern lifestyle and ease of living DREAM KITCHEN won't disappoint AMAZING VIEWS from tranquil Moss Canyon to iconic Griffith Park Observatory and city lights Enjoy FABULOUS SUNSETS from the upper and lower decks NOT A FLIP - Pride of ownership abounds Impeccable details and thoughtful finishes throughout DIRECT ACCESS to home office maintains privacy Street-to-Street Lot (3639 Cazador Street AND 3616 Richardson Drive) COMPLETE REMODELw-NEW FOUNDATION - completed 2016 SEWER LINE REPLACED during 2016 remodel 50 YEAR "cool roof" new in December 2018 LOCATION, LOCATION, LOCATION GLASSELL PARK HILLS - one of the most desirable pockets in our NELA community WELCOME HOME to the lucky Buyer:) 👉 CLICK HERE FOR THE FLOORPLAN 👈  Buying or Selling Real Estate? Contact Us Today! Brian Fitzburgh Real Estate Broker / Animal Lover 818-571-9712 [email protected]  SPONSOR AND RESCUE BOOTH OPENINGS!  Saturday, June 13, 2020 12 Noon - 3 pm 3750 Verdugo Rd, Glassell Park  RESCUE GROUPS Booth space at the event is always FREE for rescue groups and fosters. EARLY BIRD SPECIAL! Exhibiting Sponsor $299 (Regular $399) To qualify for the Early Bird Special, the Sponsorship Form, Waiver Form, and Donation must be received by April 1, 2020 Exhibiting Sponsors will receive:
  Goodie Bag Sponsor Only $35 Become a Goodie Bag Sponsor to promote your business in our Goodie Bags! Contribute to our goodie bags with your business card, coupon or product and it will be distributed to 200 of our local neighbors!  Special Boulevard Sentinel Insert Logo Sponsor! Only $50 Sign up for logo exposure in the "Special Glassell Bark Insert" inside the Boulevard Sentinel! Your business logo will be printed in a Special Glassell Bark Insert inside the May issue of the Boulevard Sentinel. It will be seen by over 14,000 readers!     Buying or Selling Real Estate? Contact Us Today! Brian Fitzburgh Real Estate Broker / Animal Lover 818-571-9712 [email protected]    Open House Schedule: Sunday, 3/15/2020, 2-5pm Tuesday, 3/17/2020, 11-1pm Saturday, 3/21/2020, 2-5pm Sunday, 3/22/2020, 2-5pm Get ready to fall in love with this legacy home in amazing NELA location has been lovingly cared for by the same family for over 49 years.  Located on a quiet street in RED-HOT Cypress Park - so close to DTLA and everything amazing that NELA has to offer.  Guest House is PERFECT as a rental unit that could earn $2,000/month after renovation - at today's low interest rates that means your tenant will cover over $400,000 of your mortgage payment!  But wait! There's more! The guest house has direct ally access for ultimate privacy from the main home - your tenant comes and goes from the ally.  The fully-fenced yard is ideal for your pets and kiddos. Don't forget the charming front porch where you can relax and enjoy the beautiful rose garden! This home will be a great opportunity for the lucky buyer!   Buying or Selling Real Estate? Contact Us Today! Brian Fitzburgh Real Estate Broker / Animal Lover 818-571-9712 [email protected]    Facts About Me Yoda is approx 6 yrs old and 4.5 lbs. He loves to be held and is a great companion to take with you wherever you go. He is not a barker and walks great on a leash. He also Loves to play fetch and cuddle. He’s distrustful at first, but is the kind of dog that chooses one person and is completely bonded and loyal to them. It doesn’t take long for him to warm up. Yoda loves our youth volunteers but would be best to have children over 10 yrs old and have good doggy manners. His foster mom says the following about him. “He has such a quirky personality. We bought him some dog toys to play with - I throw a ball for him and he just stares at it. I throw a tomato, a fig, a carrot, or a green bean and he happily runs to fetch it. He came from an extreme hoarding situation and the circle of people he trusts is very small. We’re working on making that circle bigger, until he realizes not everyone is going to hurt him. I can’t begin to imagine what this guy has been through, but just like us, he’s a product of his environment. So many of us want to adopt a perfect dog, and just like us, Yoda is not perfect. Yoda growls at people he doesn’t trust, he’s not so loving with people he doesn’t know, and he has a hard time trusting adults. Isn’t that like a lot of us? We all have our faults, our mistrust, our pasts that affect us today...but we also have our positive qualities! Yoda is perfectly imperfect. He is extremely loving and affectionate once he trusts you, runs around excitedly when he finds a tissue or sock to steal. He’s eager to please and working hard at moving on from his dark past. Let Yoda choose you.”     Buying or Selling Real Estate? Contact Us Today! Brian Fitzburgh Real Estate Broker / Animal Lover 818-571-9712 [email protected] www.brokerstrust.com    Thank you to all who follow us on social media! Our plans are to create the best events for the people and pets of NELA to attend and benefit from.  If you are interested in our Bark and Meow events (Glassell Bark & Eagle Rock Bark) please click on the link below and follow us on Instagram! Follow us here: RErescue on Instagram Here is our facebook account in case you haven't liked us there too! Follow us here: RErescue on Facebook  Thank you so much for your continued support in helping to save rescue pets! - The RErescue Team   Facts About Me Countess is a 5 year old 14 pound Poodle Mix who was brought to the shelter because her owner did not want her anymore. Countess was severely neglected as her hair was matted and was flea infested. She is a very sweet and loving but she would do better being in a household as the only dog because she can be possessive of her owner and will bark at dogs she sees when she goes for walks, but she understands basic commands when prompted. Countess loves to be a lapdog and go out for long walks. She is extremely loyal and loves to be around people.          Thank you to all who came out to support the cause, spread the word on fostering, and participated in all the fun activities and freebies to be had at Eagle Rock Bark 2019! Here are some highlights from last Sunday! We had a whopping 144 ADOPTIONS & FOSTER VOLUNTEERS at Eagle Rock Bark 2019!   Everyone came out in great costumes!  The Halloween costume parade was awesome!   The Bark Walk Scavenger Hunt games were so much fun at Eagle Rock Bark!   We had tons of winners at our spinning wheel!  Everyone had a great time competing in the watermelon eating contest where you compete against your own dog!  Here are a couple of our 2019 raffle winners!  Our very talented rising star - Piper Madison! You really should check out her album, she's amazing! facebook: @pipermadisonfans  Huge thank you to all our amazing vounteers - especially the Eagle Rock High Key Club. You guys ROCK!  And last but certainly not least, our dedicated selfless rescue groups who rescue so many beautiful animals from shelters. Our Bark and Meow events is ALL about doing what we can to help and support you. Thank you for all that you do!   Special Thank You To Team Huizar!  Buying or Selling Real Estate? Contact Us Today! Brian Fitzburgh Real Estate Broker / Animal Lover 818-571-9712 [email protected] www.brokerstrust.com   Fitzburgh Realty Vacant Lot Listing: Street to Street Lot With Stunning Views in Glendale!11/4/2019 Street to Street Land with Stunning Views!  Located in the highly sought-after Brockmont neighborhood of North Glendale Hills you will find a rare opportunity to own a 9,940sqft lot on a quiet street with absolutely stunning views.  Surrounded by architecturally significant homes, this REO lot is offered at an incredible value with nearby comps supporting home values of more than $2 Million. This street-to-street lot offers many advantages and cost savings when building and utilities are located in the street. Just imagine living a glamorous life of luxury in your dream home - a home that was created just for you and your vision.  Buying or Selling Real Estate? Contact Us Today! Brian Fitzburgh Real Estate Broker / Animal Lover 818-571-9712 [email protected] www.brokerstrust.com      Thank you all who participated in the BARK WALK 2019! We had such a fun time at the fun stations and meeting all our contestants. You are all winners in our book, but the top 3 winners deserve a prize!  BARK WALK WINNERS! 1st Place Winner: Jujube's Angels 1st Place Prize: $250 Chewy.com Gift Basket from BarkGrr $10 Muddy Paw Gift Card Primo Water Package 2nd Place Winner: WagsterZ 2nd Place Prize: $25 Urban Pet Gift Card $10 Muddy Paw Gift Card Primo Water Package 3rd Place Winner: In-N-Out 3rd Place Prize: $25 Urban Pet Gift Card $10 Muddy Paw Gift Card Primo Water Package   Buying or Selling Real Estate? Contact Us Today! Brian Fitzburgh Real Estate Broker / Animal Lover 818-571-9712 [email protected] www.brokerstrust.com     Rental Listing in Mount Washington! Rent: 3,800/month This is not your average home! Situated high up on the bucolic and picturesque Mount Washington Drive you will find your dream home - Single family home with detached garage that includes a BONUS guest or office space. You will never want to leave from the open floor plan to sweeping views and amazing outdoor spaces. Not only is this home within the MOUNT WASHINGTON ELEMENTARY school district - this home is only about 1/2 mile away from the school's entrance! Arguably the very best location in all of Mount Washington. Tranquility, Privacy, Nature, Peace and VIEWS!!  Buying or Selling Real Estate? Contact Us Today! Brian Fitzburgh Real Estate Broker / Animal Lover 818-571-9712 [email protected] www.brokerstrust.com    Facts About Me OPAL Breed: Pug/Chihuahua Mix Color: White - with Tan, Yellow or Fawn Age: 2 years old, Young Size: (when grown) Small 25 lbs (11 kg) or less  Opal is very friendly with everyone she meets including children and other dogs. She’s very loving and affectionate as you can see in the pictures. She is also a very confident dog, not timid or shy in any way. She’s super playful and entertains herself with toys. She’s very active and would do best with an active family who can provide her with plenty of exercise. She is great on a leash and would do really well with a runner - she runs alongside you perfectly. Another dog her size or larger is best considering she loves to play most of the day and sometimes doesn’t know her own strength.    Buying or Selling Real Estate? Contact Us Today! Brian Fitzburgh Real Estate Broker / Animal Lover 818-571-9712 [email protected] www.brokerstrust.com    |
AuthorThe Fitzburgh Realty Team Archives
March 2024
Categories |
||||||||
RSS Feed
REACH OUT to BRIAN and ZACH DIRECTLY
|
|
|
2022 Zillow Premier 5 Star Agent in Los Angeles. Parrish Ave., Los Angeles, CA. CalDRE# 01875767. Copyright © 2022 Brokers Trust Real Estate Group. All Rights Reserved.