Video: Crash Unlikely - Los Angeles Real Estate Reality

This Week’s Topic: Better News

Buyers and renters received some better news in the May housing inventory numbers. The housing inventory problem persists. But housing construction starts for single and multi-family jumped 21.7% in May. Permits to build also increased to 5.2%, foretelling future growth. For renters, the multi-family construction is bringing more inventory. There is already a cooling of rents with more inventory.

Last Week’s Topic: Crash Unlikely

Rising interest rates have not led to a significant decline in home prices. What are the factors that have contributed to this resilience? Strong demand from homebuyers, limited housing supply, and a robust economy. While higher rates may slow down the pace of price appreciation, they are unlikely to trigger a crash in the housing market due to these underlying factors

More: Sold and new listing reviews, market news, other interesting things we've found this week in real estate

Note: We have all the weekly topic videos now at urbanhillsides.com/live-stream

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Urban Hillsides Real Estate Makes RealTrends America's Best Rankings 2023

We are honored to have been chosen as top 1.5% of U.S. agents and teams for 2023.
For 18 years, RealTrends has identified the top agents in the field by required verification of sales data.

Locally, we ranked 59th for Los Angeles small teams of 2-5 agents.
See all the rankings here

This recognition is the culmination of many years of hard work, smart work, persistence, partnership and most of all clients that have trusted us with one of their most important decisions. Thank you.

Video: Insurance Disaster - Los Angeles Real Estate Reality

This Week’s Topic: Crash Unlikely
Rising interest rates have not led to a significant decline in home prices. What are the factors that have contributed to this resilience? Strong demand from homebuyers, limited housing supply, and a robust economy. While higher rates may slow down the pace of price appreciation, they are unlikely to trigger a crash in the housing market due to these underlying factors.

Last Week’s Topic: Insurance Disaster
State Farm and now Allstate have pulled out of the California market for new home insurance policies. It's happening in other states. Darren and Joe discuss this situation and use a client's very recent insurance challenge as an example.

More: Sold and new listing reviews, market news, other interesting things we've found this week in real estate

Note: We have all the weekly topic videos now at urbanhillsides.com/live-stream

Thursday 2-3 PM - like/follow us at
https://www.facebook.com/urbanhillsides

https://www.youtube.com/urbanhillsides

https://twitter.com/urbanhillsides

https://www.linkedin.com/in/joe-cloninger-378a964/

You can go to Live Stream — Urban Hillsides Real Estate Team
Thursdays 2-3 PM PT
https://www.urbanhillsides.com/live-stream
- Also available after the live stream

Video: Rates Dropped - Los Angeles Real Estate Reality

Next Week’s Topic: Insurance Disaster
State Farm and now Allstate have pulled out of the California market for new home insurance policies. It's happening in other states. Darren and Joe discuss this situation and use a client's very recent insurance challenge as an example.

Last Week’s Topic: Rates Dropped
Some good news. According to Mortgage News Daily, mortgage rates have fallen fairly quickly this week. Could this be a new trend for interest rates? Darren and Joe look at the numbers and see what may have moved the needle this week.

More: Sold and new listing reviews, market news, other interesting things we've found this week in real estate

Note: We have all the weekly topic videos now at urbanhillsides.com/live-stream

Thursday 2-3 PM - like/follow us at
https://www.facebook.com/urbanhillsides

https://www.youtube.com/urbanhillsides

https://twitter.com/urbanhillsides

https://www.linkedin.com/in/joe-cloninger-378a964/

You can go to Live Stream — Urban Hillsides Real Estate Team
Thursdays 2-3 PM PT
https://www.urbanhillsides.com/live-stream
- Also available after the live stream

Echo Park - Lots for Development

Echo Park / Silver Lake border corner lot development site - zoned RD2-1VL. Two combined parcels equaling 16,621 square feet. Allesandro (9,674 sqft) has an existing SFR with 145 foot frontage. Fargo(6,947 sqft) is a vacant lot and the combined frontage on Fargo is 123 feet. 8 units can be built by right. Small lot subdivision plus ADU's or Multifamily housing plus ADU's. To the left of this site sits a small lot subdivision type build and to the right (across Fargo) an apartment building. Buyer to confirm all details. Sale is a probate sale with no court confirmation required.

Note: Two sets of squatters on site outside (not inside the house) - they are passive but will not be removed prior to completion of the sale.

MLS# 23-275639

16,621 sq ft lot (approximately)

$1,495,000

- Preliminary Title and NHD reports available upon request.

Download Offering Memorandum

2004 Allesandro St.
Echo Park, CA 90039

2153 Fargo St.
Echo Park, CA 90039

For more info contact us

 

Video: New Ice Age - Los Angeles Real Estate Reality

This Week’s Topic: Rates Dropped
Some good news. According to Mortgage News Daily, mortgage rates have fallen fairly quickly this week. Could this be a new trend for interest rates? Darren and Joe look at the numbers and see what may have moved the needle this week.

Last Week’s Topic New Ice Age
The US housing market is experiencing an “ice age” with higher home prices, fewer sales, and less inventory. This is due to a combination of factors including low interest rates, high demand, and low supply. This trend may continue for some time as the market adjusts to these conditions.

More: Sold and new listing reviews, market news, other interesting things we've found this week in real estate

Note: We have all the weekly topic videos now at urbanhillsides.com/live-stream

Thursday 2-3 PM - like/follow us at
https://www.facebook.com/urbanhillsides

https://www.youtube.com/urbanhillsides

https://twitter.com/urbanhillsides

https://www.linkedin.com/in/joe-cloninger-378a964/

You can go to Live Stream — Urban Hillsides Real Estate Team
Thursdays 2-3 PM PT
https://www.urbanhillsides.com/live-stream
- Also available after the live stream

Virgil Village - Lot for Development

360 Views Here

Virgil Village Opportunity Zone SFR sold for land value. Gentle downslope at the front then flat 7502 square foot lot (50 x 150) zoned R3 and TOC Tier 3. Similar upslope parcel across the street has been approved for a 17-unit residential apartment building. Centrally located with easy access to subways (1/2 mile to Vermont & Santa Monica station), public transportation (1/2 block) & LACC. Virgil Village neighborhood near Melrose and Vermont with a thriving commercial corridor. Probate sale with full authority. No court confirmation needed. Buyer to verify all details.

MLS# 23-271247

7,502 sq ft lot (approximately)

$1,295,000 SOLD $1,000,000

Download Offering Memorandum

616 N. Juanita Ave.
Los Angeles, CA 90004

For more info contact us