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Insider's Guide to Real Estate in Playa Vista
7/9/2022: What's up with the crazy housing market?
This Week's Contents
1. This Week in Playa Vista
2. Playa Vista Home With 2,660 Square Feet and Three Bedrooms Asks $1.9 Million
3a. Phase 1 - Single Family Homes For Sale: 1 listing
3b. Phase 2 - Single Family Homes For Sale: 2 listings (2 new!)
3c. Phase 1 - Condos/Townhomes For Sale: 9 listings (2 new!)
3d. Phase 2 - Condos/Townhomes For Sale: 3 listings (1 new!)
4. This week's avg 30-yr fixed-rate: 5.3%
5. What's Up With The Crazy Housing Market?
6. Mortgage Rates Drop as Housing Market Begins to Cool
7. Statistics - Playa Vista Homes Recently Sold
8. Illustrated Playa Vista Map
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Playa Vista Home With 2,660 Square Feet and Three Bedrooms Asks $1.9 Million
by Mansion Global, 7/8/2022
This home in Los Angeles, California, includes a number of distinctive features that will please the most discerning buyer. It has 2,660 square feet of living area, according to a listing from Meredith Schlosser. A sampling of some of the notable elements of this property gives you a peek into its appeal. The well-appointed primary suite features white-oak built-in storage benches and floor-to-ceiling French windows with elegant ripple fold wool black-out shades. A chef's dream, the gourmet double height kitchen features a large eat-in center island, built-in side-by-side 64" refrigerator & freezer, Thor six-burner cooktop, Bosch paneled dishwasher, quartz counters, and sleek walnut cabinetry.
Read more at: Mansion Global
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A. Phase 1 - Single Family Homes For Sale
Last week: 1 listings at $1,987,000
This week: no change
Capri Court, 5740 Kiyot Way
$1,987,000 | 3BR, 4BA | 2376 SF
MLS #22-165123 - open house Sun (7/10)
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B. Phase 2 - Single Family Homes For Sale
Last week: none
This week: 2 listings, $2,687,500
The Collection, 12673 Bluff Creek Drive
$2,700,000 | 3BR, 4BA, | 2624 SF
new! MLS #22-174225 - open Sat (7/9) & Sun (7/10)
The Collection, 12652 Seacoast Place
$2,675,000 | 3BR, 4BA, | 2624 SF
new! MLS #22-161853 - open Sat (7/9) & Sun (7/10)
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C. Phase 1 - Condos/Townhomes For Sale
Last week: 11 listings, $1,369,545 avg price
This week: 9 listings, $1,409,667 avg price, 2 new!
Carabela #321, 12975 Agustin Place
$1,299,000 | 3BR, 3BA | 1840 SF
MLS #22-119317 - open house Sun (7/10)
Chatelaine #406, 5721 Crescent Park
$1,895,000 | 3BR, 3BA | 2346 SF
MLS #22-164329
The Dorian #106, 6241 Crescent Park
$1,700,000 | 3BR, 3BA | 2400 SF
MLS #22-165995
Paraiso #103, 13173 Pacific Promenade
$1,350,000 | 3BR, 3BA | 1812 SF
MLS #22-158985 - open house Sun (7/10)
Primera Terra #161, 12920 Runway Road
$1,295,000 | 3BR, 2BA | 1310 SF
new! MLS #22-175753 - open Sat (7/9) & Sun (7/10)
Tapestry, 5700 Seawalk Drive #11
$2,090,000 (increased) | 3BR, 4BA | 3207 SF
MLS #22-135999
Tempo #129, 6020 Seabluff Drive
$1,410,000 | 3BR, 3BA | 1750 SF
MLS #22-160317 - open house Sat (7/9)
Waterstone #227, 6400 Crescent Park
$799,000 | 2BR, 1BA | 960 SF
MLS #22-160153 - open Sat (7/9) & Sun (7/10)
Waterstone #417, 6400 Crescent Park
$849,000 | 2BR, 1BA | 1010 SF
new! MLS #22-171207 - open Sat (7/9) & Sun (7/10)
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D. Phase 2 - Condos/Townhomes For Sale
Last week: 3 listings, $2,021,667 avg price
This week: 3 listings, $2,006,333 avg price, 1 new!
Camden, 12518 Fielding Circle #1
$1,779,000 | 3BR, 2BA | 1601 SF
new! MLS #22-176297 - open house Sun (7/10)
Camden, 12895 Runway Road #2
$2,375,000 | 4BR, 4BA | 2224 SF
MLS #21-100687
Mason, 5848 Suncatcher Place #1
$1,865,000 | 3BR, 2BA | 1880 SF
MLS #TR22135463MR - open Sat (7/9) & Sun (7/10)
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This week's avg 30-yr fixed-rate: 5.3%
Over the last two weeks, the 30-year fixed-rate mortgage dropped by half a percent, as concerns about a potential recession continue to rise. While the drop provides minor relief to buyers, the housing market will continue to normalize if home price growth materially slows due to the combination of low housing affordability and an expected economic slowdown.
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What's Up With The Crazy Housing Market?
by Ronda Kaysen, The New York Times, 7/8/2022
After a two-year boom, the United States housing market finds itself at a pivotal moment — but pivoting to what, exactly?
This spring should have been a busy time for home sellers. Instead, the season was a dud, stalled by a dramatic spike in mortgage rates that stunned even industry experts with its chilling effect on the market.
The frenzied environment we had become accustomed to — with its eye-popping price increases and bidding wars that left buyers dejected and sellers giddy — suddenly seemed to be a thing of the past. While buyers stood on the sidelines, recalculating their much larger mortgage payments, sellers began to realize that offers of $100,000 or more over asking might not be forthcoming.
Read more by Ronda Kaysen at: The New York Times
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Mortgage Rates Drop as Housing Market Begins to Cool
by Natalie Campisi, Forbes, 7/7/2022
Mortgage rates fell for the second week in a row, giving buyers another shot at savings during the summer homebuying season.
The 30-year, fixed-rate mortgage averaged 5.3% for the week ending July 7, down 40 basis points—one one-hundredth of a percent—from 5.7% the previous week, according to Freddie Mac. The 30-year fixed rate has fallen more than 50 basis points in the last two weeks as looming fears of a recession grow.
Read more by Natalie Campisi at: Forbes
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Statistics - Playa Vista Homes Recently Sold
Condominiums - Sold in May
Avg List Price of homes sold: $1,303,989
Average Sold Price: $1,328,236
Average Sold $/SF: $867.73
No. Homes Sold: 10
Sold Range: $858,000 - $2,000,000
Single Family Homes - Sold in May
Avg List Price of homes sold: $2,959,333
Average Sold Price: $2,976,667
Average Sold $/SF: $908.91
No. Homes Sold: 3
Sold Range: $2,055,000 - $3,500,000 source: data compiled from The MLS
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Brought to you by Playa Vista Premiere
The hardest working team in real estate
Dennis Hsii, MBA
CalDRE License #01919746
dennis@playavistapremiere.com
(844) 99-PLAYA
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