California real estate market expected to calm down – just a little | Silver Lake home sells for $ 5.7 million | Real estate
Here is the latest bundle of information and news for Eastside home buyers and sellers.
News and Notes
“Normalize”: Economists say the California real estate market will calm down a bit for the remainder of the year. The number of homes available for sale has increased and is expected to increase, allowing buyers to shop around and take more time. “We believe the market is normalizing,” said Jordan Levine, chief economist at the California Assn. real estate agents. Still, the state’s median home price is expected to hit $ 795,600 this year, up 20.7% from 2020. OC Register
Silver Lake: One Republic bassist Brent Kutzle bought a five-bedroom contemporary on famous Baxter Street for $ 5.7 million, Dirt reported. The sellers are both actors and producers – Mark Duplass and Katie Aselton – who bought the house in 2014 for $ 4.45 million. Dirt said this was the second most expensive single-family home sale in the Silver Lake area, behind the $ 8.55 million music industry manager Luke Wood paid for a home designed by John Lautner in 2014.
Hi and down: The most expensive Eastside home sale over the past week was a 3-bedroom English-style home in Los Feliz that sold for $ 3,340,000 ($ 345,000 on request); the lowest was a 2-bedroom house in East LA with an unauthorized basement apartment that cost $ 399,000.
Real estate reductions
$ 24,000 on the Victor Heights condo; $ 73k chop on Eagle Rock Traditional; $ 50,000 cut on Silver Lake 3 bedrooms
Here are a few examples, followed by a breakdown by neighborhood, of recent price drops on homes, condos, apartments and other properties in the Eastside.
Victor Heights co-ownership: $ 24,000 installment on a modern open concept home with 3 bedrooms, a balcony in the master bedroom, 2 bathrooms, direct access to the closed garage, as well as air conditioning and central heating. Now $ 595,000.
Traditional Rock Eagle: $ 73,000 for a 4 bedroom house with 2 bathrooms, a fenced lot and a patio in the backyard. The property is located near the Rose Bowl Stadium. Now $ 695,000.
Silver Lake 3 bedrooms: $ 50,000 off a traditional style home with 2.5 baths, recently refurbished hardwood floors, patio, detached 2 car garage and balconies with views of the hills. Now $ 1,399,000.
Which house remains the most expensive?
Million dollar homes in Eagle Rock, Highland Park and Los Feliz
Million dollar properties have become more common in many parts of Eastside in recent years. Here are three homes around $ 1 million that we came across this week:
• the Los Feliz apartment: The corner unit features 2 bedrooms, 2 bathrooms, new sliding doors, a private balcony and 9 foot ceilings with windows offering views of the hills and the city. Now I am asking for $ 995,000.
• Highland Park Modern with ADU: The gated property comprises of a 2 bedroom 2 bathroom main house with an independent guest area with 1 bathroom and 1 bedroom. The property is fenced and is landscaped with fruit trees. Now I am asking for $ 999,000.
• Eagle Rock Triplex: The property comprises 3 bedrooms, 3 bathrooms and has the potential to add an ADU. Located near restaurants, shops, grocery stores, Dodger Stadium and the Rose Bowl. Now I am asking for $ 999,000.
Which house is the best deal?
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So much for this week’s issue
See you next Friday!
Jesus Sanchez, editor
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