Dear Westwood Hills Neighbor:

It’s the Spring selling season…

March came in like a lion, dumping rain, and snow across the country, but we escaped the devastating floods and mudslides of February, and the moderate rains we did receive were sorely needed in California. The snow pack received a healthy amount also.  

With the economy continuing to show strength and with interest rates remaining relatively low for the past five weeks, we enter the 2nd quarter of 2018 prepared for a more challenging year for real estate market.  We’re still lacking in inventory and prices continue to move up, especially on the Westside.  Activity is strong as well with lots of activity at open houses and there are multiple offers for those homes that are priced competitively. Just recently one of my associates received 28 offers on her listing.

For those of us who live in hillside areas, you should be aware that the City of Los Angeles Fire Department will no longer allow home owners to “self-certify” for fire safety and brush clearance on their property. Please check your property to make sure they are in compliance with LAFD regulations as it pertains to brush and the landscaping for your homes.  Starting April 28, the LAFD will be inspecting homes and will fine ($28) those residents that are not in compliance and possibly issue additional fines if the non-compliance is not completed and/or corrected. For specific information as to what is allowed, please refer to L.A.M.C. Section 57-3722.

The community of Westwood Hills defies the issues with a lack of inventory. Currently there are 6 homes available for sale vs. 1 for the same time period last year.  As for homes in escrow there are 5 in the first quarter of this year and the same for ‘17.  As far as closed escrows go, there have been 6 this past quarter, and 5 in ’17.  Three homes are available for lease, vs. 3 last year, and were leased last year, and none this year. For the most part, the days on market is about average for the market today.

Please let me know how I can assist you with your real estate needs.  Follow me at caroleschifferrealtor@facebook.com or www.linkedin.com/in/caroleschiffer/  

Looking forward to speaking with you soon.

 

Cordially

 

Carole Schiffer                                   

Carole Schiffer, Realtor Coldwell-Banker Residential Brokerage/Brentwood Office
310-442-1384 (office) or e-mail me at carole@caroleschiffer.com  www.caroleschiffer.com             CalBRE  00677619    ©©2018 Coldwell Banker Real Estate LLC.  Coldwell Banker is a registered trademark licensed to Coldwell Banker Real Estate LLC 234567An Equal Opportunity Company.  Equal Housing Opportunity.  Owned and Operated by NRT LLC.  Coldwell Banker does not guarantee the accuracy of square footage, lot size or other information concerning the condition or features of property provided by the seller or obtained from public records or other sources, and the buyer is advised to independently verify the accuracy of that information through personal inspection and with appropriate professionals

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1 April 2018

 

 

Dear Westwood Hills Neighbor:

 

 

It’s the Spring selling season…

March came in like a lion, dumping rain, and snow across the country, but we escaped the devastating floods and mudslides of February, and the moderate rains we did receive were sorely needed in California. The snow pack received a healthy amount also.  

 

With the economy continuing to show strength and with interest rates remaining relatively low for the past five weeks, we enter the 2nd quarter of 2018 prepared for a more challenging year for real estate market.  We’re still lacking in inventory and prices continue to move up, especially on the Westside.  Activity is strong as well with lots of activity at open houses and there are multiple offers for those homes that are priced competitively. Just recently one of my associates received 28 offers on her listing.

 

For those of us who live in hillside areas, you should be aware that the City of Los Angeles Fire Department will no longer allow home owners to “self-certify” for fire safety and brush clearance on their property. Please check your property to make sure they are in compliance with LAFD regulations as it pertains to brush and the landscaping for your homes.  Starting April 28, the LAFD will be inspecting homes and will fine ($28) those residents that are not in compliance and possibly issue additional fines if the non-compliance is not completed and/or corrected. For specific information as to what is allowed, please refer to L.A.M.C. Section 57-3722.

 

The community of Westwood Hills defies the issues with a lack of inventory. Currently there are 6 homes available for sale vs. 1 for the same time period last year.  As for homes in escrow there are 5 in the first quarter of this year and the same for ‘17.  As far as closed escrows go, there have been 6 this past quarter, and 5 in ’17.  Three homes are available for lease, vs. 3 last year, and were leased last year, and none this year. For the most part, the days on market is about average for the market today.

Please let me know how I can assist you with your real estate needs.  Follow me at caroleschifferrealtor@facebook.com or www. Linkedin.com/in/caroleschiffer/

Looking forward to speaking with you soon.

 

Cordially

 

Carole Schiffer                                   

Carole Schiffer, Realtor Coldwell-Banker Residential Brokerage/Brentwood Office
310-442-1384 (office) or e-mail me at carole@caroleschiffer.com  www.caroleschiffer.com             CalBRE  00677619    ©©2018 Coldwell Banker Real Estate LLC.  Coldwell Banker is a registered trademark licensed to Coldwell Banker Real Estate LLC 234567An Equal Opportunity Company.  Equal Housing Opportunity.  Owned and Operated by NRT LLC.  Coldwell Banker does not guarantee the accuracy of square footage, lot size or other information concerning the condition or features of property provided by the seller or obtained from public records or other sources, and the buyer is advised to independently verify the accuracy of that information through personal inspection and with appropriate professionals

Dear Westwood Hills Neighbor:

First of all, please accept my condolences for any loss you might have sustained in the horrible mudslides in Montecito earlier this month. I also want to apologize for the tardiness in my getting this report earlier.  Unfortunately, a myriad of events prevented me from doing so.

A whirlwind of December real estate and tax news swept us into the new year as we continue to face some of the same challenges we started with 12 months ago — rising home prices, low inventories, and a market that is woefully in need of housing — at all levels.  Added to all of this, of course, is the impact of the new tax bill and its effect on real estate.  

Let me first recap the year in simpler terms — it was a banner year for home value appreciation as median sales prices in Los Angeles area finally exceeded pre-2007 price levels, although when inflation is considered, we’re still down about 11% in real value.  Median sales prices in all of the areas I report were up through the end of November, another positive sign and total sales through first 11 months were up over 10%.  Inventories slightly improved, but not near enough.  

The vote is out as to how the just passed tax bill will impact our real estate values. We do know that for any home purchased after 15 December, 2017 the maximum amount of the mortgage is $750,000. For all others there will be no change.  This most likely could impact the market as pertains to new purchases.  The change in the state, city, and local taxes deductions could also impact the market. As always there are two sides to each story, and some seem to feel that with the increase income the deduction we will not feel the impact that much. Obviously, we will need to see what the future brings.  Prices are predicted to continue their upward climb.  

High-end sales on the Westside had its best record home sales were sent to their highest level in 11 years. All in all, the real estate market is positioned to remain healthy from a seller’s point of view — buyers will continue to scramble for homes, not only here, but everywhere.  

2017 was a whirl wind year for real estate activity in Westwood Hills, and it continued in the last quarter of the year.  How did it stack up against 2016?  Currently there are 6 homes available for sale vs. 4 in ’16.  There is 1 home in escrow, vs. 2 in ’16. In 2016 there were 4 closed escrows this quarter vs. 3 this year, and currently there is 1 home available for lease and none leased, vs. 2 for lease and 3 leased in 2016.  I want to thank Linda G and Vivian D for their contributions to my One Warm Coat Campaign, they both have been most generous.  It definitely is not too late for me to come and collect any items you might have, so if you have any items such as coats, sweaters, etc. that can be used by those in need, please contact me – Carole Schiffer, at 310-442-1384. 

Please let me know how I can assist you with your real estate needs.

Cordially,

 

Carole Schiffer

Carole Schiffer, Realtor Coldwell-Banker Residential Brokerage/Brentwood Office
310-442-1384 (office) or e-mail me at carole@caroleschiffer.com  www.caroleschiffer.com CalBRE  00677619©©2017 Coldwell Banker Real Estate LLC.  Coldwell Banker is a registered trademark licensed to Coldwell Banker Real Estate LLC 234567An Equal Opportunity Company.  Equal Housing Opportunity.  Owned and Operated by NRT LLC.  Coldwell Banker does not guarantee the accuracy of square footage, lot size or other information concerning the condition or features of property provided by the seller or obtained from public records or other sources, and the buyer is advised to independently verify the accuracy of that information through personal inspection and with appropriate professionals

 

Dear Westwood Hills neighbor:

The lovely and gracious community of Westwood Hills, continues to be quite active as pertains to real estate activity. I am hoping to once again be a sponsor of your annual meeting so that I can meet more of you and see some familiar faces from last year. What are we looking at a sales activity from this past quarter vs. the 3rd quarter of last year? Currently there are 4 homes available for sale, and there were 6 last year. You will also notice that the Days on Market is a little longer this year than last. There is 1 home in escrow, vs. 2 last year, and as for closed escrows, there were 9 sales, 2 of which were private sales, and last year we had 9 sales also. As for leases, there are 2 homes available for lease, and last year there were 3, and 1 home has recently been leased., vs. 2 last year.
Please let me know how I might assist you with all of your real estate needs.

I am here to help you. Looking forward to hearing from you. Again, hope to see you at the annual meeting.

I am very proud to announce that, for the 20th year in a row, NRT , (Coldwell Banker’s parent company) has been ranked the #1 residential real estate brokerage in the nation in both closed sales volume and closed transaction sides by REAL Trends 500. NRT closed 337,780 transaction sides and had more than $166 billion in closed sales volume in 2016 – more than the next four largest competitors combined. It pays to work with a winner, call me!

The real estate activity in Westwood Hills has been very strong. Properties that come on the market are selling very quickly, which is great considering the impact the construction on the 405 had on the community. Currently, there is only 1 home available for sale vs. 5 for the first quarter of last year. Five homes are in escrow, again vs. only 3 last year. There were 5 happy new home owners this past quarter, vs. 3 last year, and currently there are 3 homes available for lease, and 2 that have been recently leased, vs. only 2 available for lease last year, and no homes leased.

I look forward to assisting you with any of your real estate needs.