Market Update
Measure ULA Tax Update
LA voters passed Measure ULA (only 512k to 374k votes) in November 2022 which imposed a new “Homelessness and Housing Solutions” transfer tax on all real estate sales transactions in the city over $5 million. Though it is commonly referre...
Howard Hughes’ Former Spanish Colonial Lists for $23 Million
Hancock Park real estate made international news again this week for the most recent luxury home listed for sale on Muirfield Road in the Hancock Park Preservation Overlay Zone (HPOZ). If it sells at the current list price, Howard Hughes' form...
Q2 2023 Hancock Park Market Update
Even with a writer’s strike many offers were written in Hancock Park as the imbalance of supply relative to demand and demographic trends are keeping our market dynamic and strong. Multiple offers continue for the most prized locations and ma...
A Decade of Undersupply Forecasted
According to Realtor.com economist Danielle Hale, housing affordability is not expected to improve for prospective home buyers in the near future. This is primarily due to the high cost of borrowing and a lack of available homes on the market. ...
June 2023 Market Update for Hancock Park
Even with a Writer’s Strike many offers were (and are being) written in Hancock Park. Multiple offers continue for the most prized locations and many are still offering cash. For the month of May there were 9 sales down from 18 in M...
Q1 2023 Hancock Park Real Estate Round Up
Spring has sprung and the sun is shining upon Hancock Park. Over the last three months the market (and real estate professionals) showed resilience despite constant rainfall, volatility in the banking sector, another interest rate hike, major t...
Fed Raises Rates 25 basis points & what it means for you
All eyes were on the Fed today and rates increased 25 basis points. Real estate continues to be a great hedge against inflation which is why we continue to see multiple offers on well-located, well-priced properties. We see many cash buyers s...
Q4 2022 Market Update in Hancock Park
Dare we say the market is ‘normalizing’? Q4 2022 was a time for social re-engagement after nearly 3 years. Our local Larchmont Family Fair was well attended as were many joyful holiday parties. What a great community we call home! The...
Key Advantages of Buying a Home Today
Key Advantages of Buying a Home Today Clearly buying a home today is different than it was over the past couple of years, and the shift in the market has led to advantages for buyers today. Right now, there are specific reasons that make thi...
New taxes that will affect you
MEASURES ULA & GS PASSED - How Will it Affect You & the Real Estate Market Implications If you are thinking of selling let's discuss a strategic plan NOW. It will be more expensive to sell any real estate $5 million+ in Los Angeles. Beve...
What does a Shifting Real Estate Market mean to You?
Chief Economist Jordan Levine from the California Association of Realtors offered the following real estate insights on Nov 18th. We have summarized it for you and added our local market commentary. Expect •Sales volume to contract more t...
Important Measure on the November 8 Ballot
Vote NO on Initiative Ordinance ULA - Tax Hike on real property transfers over $5 million There is an ill-conceived measure on the City of Los Angeles ballot this November. The measure will impose a: 4% tax on ANY real estate transfer/...
California Real Estate Market Update & Forecast
The California Association of Realtors releases its 2023 housing market forecast. Each neighborhood has its nuances but overall, the market is 'normalizing' after a fierce last 2 years. The Hancock Park real estate market continues to be act...
Q3 2022 Luxury Market across LA (Hancock Park to Malibu)
The $5+ million luxury segment of the real estate market from Hancock Park to Malibu is down slightly year to date as of the end of August 2022. 765 closed sales of $5+ million this year, versus 784 at this time last year. (-2.5%)....
Q3 2022 Market Update in Hancock Park
Summer vacations were clearly top priority in Q3 2022! Agents, sellers and buyers finally took a breath in June and July, regained perspective and by August the pace of sales picked up before the September rate hike. The Federal Reserve’s mov...
Q2 2022 Market Update in Hancock Park
This shift began in Q2 as the Fed acted aggressively to ease inflation by raising the fed funds rate which resulted in mortgage interest rate hikes and volatility. As Q1 began, rates* were 3.2%, then inched up to 4.72% at beginning of Q2 to a...
Q4 2021 Market Update in Hancock Park
Q4 2021 Hancock Park Real Estate Market Round Up 2021 was a remarkable year for real estate citywide AND in Hancock Park. Record prices were set in our neighborhood and the $20MM threshold was just surpassed with the sale of 355 S Muirfield Rd...
Highest Sales for Q3 2021
Year to Highest sales for Q3 2021 in Hancock Park were: 105 North Rossmore Avenue $10,000,000 Designed by framed architect Wallace Neff on the 9th fairway of Wilshire Country Club. Originally built for the Chandler family of...