House Hunter L.A. -- May 2023 Newsletter
Greetings, House Hunters!
We hope your school-ends, graduations and family vacations are everything you want them to be. Heads up that we will be traveling the first two weeks of July, though still reachable by phone and email, just with a longer response time. We will have coverage on the ground for showings during that time since real estate don't wait, especially in Los Angeles. Please reach out if you have any concerns.
We are kicking off the summer with a homebuyer seminar, held at?Verdugo Bar?in Glassell Park, and co-sponsored by one of our preferred lenders,?Elvin Estela of We Fund LA.
For more information, please reply to this email or reach out to Milla at 310.869.4021.
Rates provided without warranty or guarantee by?SmartAsset.com.
Mortgage rates have been steadily climbing over the past month due to debt ceiling shenanigans in Washington, D.C., hitting their highest rates of the year. From?Inman News:
"The U.S. reached its $31.4 trillion debt limit on Jan. 19, and the U.S. Treasury has been taking 'extraordinary' measures to avoid exhausting its cash position. If that day comes before an agreement to raise the debt ceiling is finalized by House and Senate votes, the government could begin missing payments on some obligations...
"Rates on 30-year fixed-rate conforming mortgages have surged by half a percentage point in just over two weeks, climbing from 6.34 percent on May 11 to a new 2023 high of 6.85 percent on Friday."
Climate change and inflation are impacting?California's insurance industry in major?ways. One of the state's biggest insurers, State Farm, has ceased writing new policies for homeowners and businesses but will continue to support existing clients.
From?CBS News:?"State Farm General Insurance Company made this decision due to historic increases in construction costs outpacing inflation, rapidly growing catastrophe exposure, and a challenging reinsurance market...
"In 2022, the state experienced 7,490 wildfires that burned 362,455 acres. State Farm, which was the largest property and casualty insurer in California in 2021, brought in over $7 billion in premiums that year, but incurred losses of about $4 billion, state data showed."
QUICK TIP:??A recent analysis of over 51 million sales suggests that waiting for the weather to warm up before selling a property can result in higher seller premiums. But?what month of the year?provides the hottest returns? (As always, for a FREE, no obligation home valuation, just reply to this email with your address, and we'll get it right over to you.)
COMING SOON:?This lovely Del Rey-area condo features 3 bedrooms, 3 bathrooms, an atrium and an attached, 2-car garage.?Available in July for $1,199,000. Reach out if you'd like a sneak peek.
领英推荐
MAY SALES:?This month's closings included?Via Sorrento, which sold for $540,000;?179th Street?for $975,000; and?Mariposa Street?in Burbank, which sold for $1,335,000. Congratulations to our buyers!
BE ON TV:?We have a standing invitation to audition buyers for the HGTV show?House Hunters. Filming occurs over five days and buyers receive a nominal fee. If you're a fan of the show and/or interested in being featured, please reach out and let's make it happen.??
UPDATED FOR 2023:?House Hunter L.A.'s?vendor list?is updated and now online. We spent last year doing a multitude of home improvement projects to our own house in Highland Park, including a garage-to-ADU conversion, so many of these vendors we worked with personally. As always, let us know about your favorite vendors and what kinds of experiences you have with ours. This list is always evolving and welcomes your feedback.??
Milla Goldenberg
310.869.4021
Warren Calvo
323.439.3355
Los Angeles Real Estate:?HouseHunterLA.com
Nationwide Real Estate Referrals:?OutofStateAgent.com
Follow Milla on Social Media: