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Insider's Guide to Real Estate in Playa Vista
12/3/2022: You must earn more than $220,000 a year to buy a house in L.A.

This Week's Contents 
1. This Week in Playa Vista
2. WUF x Art Upcoming Event
3. Los Angeles Weekend Roundup - Epic Mega Cookie Co.

4a. Phase 1 - Single Family Homes For Sale: none
4b. Phase 2 - Single Family Homes For Sale: 1 listings
4c. Phase 1 - Condos/Townhomes For Sale: 4 listings
4d. Phase 2 - Condos/Townhomes For Sale: 6 listings
5. This week's avg 30-yr fixed-rate: 6.49%

6. You Must Earn More Than $220,000 a Year to Buy a House in L.A.
7. You Should Probably Wait to Buy a Home

8. Statistics - Playa Vista Homes Recently Sold
9. Illustrated Playa Vista Map
THIS WEEK IN PLAYA VISTA
  1. Farmers' Market
      12/3 (Saturday) - 9am to 2pm along Millennium Drive
  2. Photos with Santa w/ suggested toy donation
      12/3 (Sat) & 12/4 (Sun) - 10am to 3pm at Runway Wonderland

  3. Live Music @ Runway featuring Jonny Zye
      12/3 (Saturday) - 11am to 2pm at Runway Playa Vista
  4. Live Music @ Runway featuring Jamie Van Der Sluys Trio
      12/4 (Sunday) - 11am to 2pm at Runway Playa Vista
  5. Runway Kid's Club with Holiday Crafts
      12/7 (Wednesday) - 10am to 11am at Runway Playa Vista
       * Read stories, sing, dance and create some holiday crafts

  6. Cocoa & Carols
      12/9 (Friday) - 6pm to 8pm at Runway Town Center next to the Ginger Bread House!
WUF x Art
WUF x Art
By KCRW and Wallis Annenberg PetSpace, 12/10/22 - 12/11/22

WUF x Art is a community celebration living at the intersection of culture, dogs and pet parents. The experience brings together dozens of artists, vendors and brands, each united in the common purpose of commemorating our dogs and the humanity they bring out in all of us. The event features live music by KCRW’s own Novena Carmel and Anthony Valadez, art demonstrations and thought leadership discussions.

Buy Tickets

Read more at: KCRW and WUF x Art
 
Los Angeles WEEKEND ROUNDUP
By SoCalPulse, 12/1/22 - 12/4/22

Epic Mega Cookie Co.

Now Open. Celebrity Chef Derrick Fox just opened Epic Mega Cookie Co. at RUNWAY Playa Vista. The shop features oversized cookies with creative flavors such as s’mores, caramel snicker doodle, peanut butter with pumpkin pie, and more. Open daily, 12 p.m. – 6 p.m. 12775 Millennium, Box Shop A, Playa Vista. epicmegacookie.com

Read more at: SoCalPulse
 
A. Phase 1 - Single Family Homes For Sale
Last week: none
This week: none

There are no new listings this week!
B. Phase 2 - Single Family Homes For Sale
Last week: 2 listings, $3,939,995
This week: 1 listing at $2,899,990

Asher, 5825 W Seaglass Circle
$2,899,990 | 4BR, 4BA | 2757 SF
MLS #TR22239015MR
C. Phase 1 - Condos/Townhomes For Sale
Last week: 5 listings, $1,337,600 avg price
This week: 4 listings, $1,412,000 avg price
Coronado #407, 7100 Playa Vista Drive
$1,699,000 (reduced) | 4BR, 4BA | 2108 SF
MLS #22-203807


The Metro #136, 5625 Crescent Park
$1,250,000 | 2BR, 3BA | 1675 SF
MLS #22-189789


The Metro #320, 5625 Crescent Park
$1,499,000 | 3BR, 3BA | 2180 SF
MLS #SB22243806MR


The Metro #341, 5625 Crescent Park
$1,200,000 (reduced) | 2BR, 3BA | 1670 SF
MLS #22-209695
D. Phase 2 - Condos/Townhomes For Sale
Last week: 6 listings, $1,978,000 avg price
This week: no change
Camden, 12887 Runway Road #4
$1,849,000 
(reduced x2) | 3BR, 3BA | 1875 SF
MLS #22-207590 -  open house Sun (12/4)

Camden, 12895 Runway Road #2
$2,200,000
(reduced) | 4BR, 4BA | 2224 SF
MLS #21-100687


Mason, 5848 Suncatcher Place #5
$1,845,000 (reduced) | 3BR, 2BA | 1780 SF
MLS #OC22158583MR


Seabluff #408, 6030 Seabluff Drive
$1,349,000 | 3BR, 2BA | 1300 SF
MLS #22-217191
 -  open house Sun (12/4)

Skylar, 12642 Sandhill Lane #1
$2,345,000 
(reduced) | 4BR, 4BA | 2638 SF
MLS #OC22156006MR


Skylar, 12695 Sandhill Lane #2
$2,280,000 | 3BR, 3A | 2026 SF
MLS #22-218334
 -  open house Sun (12/4)
This week's avg 30-yr fixed-rate: 6.49%
Mortgage rates continued to drop this week as optimism grows around the prospect that the Federal Reserve will slow its pace of rate hikes. Even as rates decrease and house prices soften, economic uncertainty continues to limit homebuyer demand as we enter the last month of the year.
You must earn more than $220,000 a year to buy a house in L.A.
You Must Earn More Than $220,000 a Year to Buy a House in L.A.
by Salvador Hernandez, Los Angeles Times, 12/1/2022

The annual income needed to buy a home in Los Angeles skyrocketed past $220,000, a recent study found, with higher mortgage rates and inflation cutting deeper into household incomes.

That means the ability to own a home is a goal inching further and further away from more families and households in Los Angeles, where the median annual household income in 2020 was just over $65,000.

Read more by Salvador Hernandez at: Los Angeles Times
You Should Probably Wait to Buy a Home
You Should Probably Wait to Buy a Home
by Annie Lowrey, The Atlantic, 11/30/2022

Should you even try to buy a house right now? Asking real-estate agents, economists, and potential homebuyers that question is likely to elicit something between a whimper and a scream these days. “It never feels like a great time to buy a house,” Danielle Hale, the chief economist at Realtor.com, told me. “You’re committing yourself to paying this enormous mortgage over a really long period of time.” But, she said, something that is always “a little bit scary” is “particularly scary” right now. Many Americans seem to share that sentiment: Half as many home sales occurred this past July as in the same month two years ago.

Read more by Annie Lowrey: The Atlantic
Statistics - Playa Vista Homes Recently Sold
Condominiums - Sold in October
Avg List Price of homes sold: $1,265,857
Average Sold Price: $1,299,571
Average Sold $/SF: $807.62

No. Homes Sold: 7

Sold Range: $983,000 - $1,850,000 
 
Single Family Homes - Sold in October
List Price of homes sold: $1,895,000
Sold Price: $2,050,000
Sold $/SF: $646.54

No. Homes Sold: 1                                                               source: data compiled from The MLS
Playa Vista Map
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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Playa Vista Premiere is a Highland Premiere company, DRE #02014153.

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