|
|
|
|
Insider's Guide to Real Estate in Playa Vista
6/11/2022: Half of homebuyers cry at least once while shopping for a home
This Week's Contents
1. This Week in Playa Vista
2. High Rises Are Out, Campuses Are In as L.A. Office Real Estate Market Recovers
3a. Single Family Homes For Sale: 1 listing (new!)
3b. Phase 1 - Condos/Townhomes For Sale: 10 listings (2 new!)
3c. Phase 2 - Condos/Townhomes For Sale: 3 listings (1 new!)
4. This week's avg 30-yr fixed-rate: 5.23%
5. Half of Homebuyers Cry at Least Once While Shopping for a Home
6. Parents Are Buying Homes for Kids Priced Out of the Housing Market
7. Statistics - Playa Vista Homes Recently Sold
8. Illustrated Playa Vista Map
|
|
|
|
High Rises Are Out, Campuses Are In as L.A. Office Real Estate Market Recovers
by Hadley Meares, The Hollywood Reporter, 6/7/2022
As L.A.’s commercial real estate market recovers from the massive blow of COVID, some areas are flourishing while others are stuck in a two-year slump,. “It’s somewhat of a tale of two cities, depending on which market we’re talking about,” says Jodie Poirier, executive managing director at Colliers.
...
The pandemic also has accelerated pre-COVID trends, with employers putting a premium on fostering a comfortable, creative environment for their employees. High-rise, cubicle-heavy offices are out. Brick and timber low-rise buildings with ample natural light, garden space, high ceilings, ease of ingress and egress and amenities including gyms and dog parks are in.
A prime example of this new style is Hackman Capital Partners’ 30-acre 888 Douglas St. campus in El Segundo, a converted former aerospace plant with soaring 50-foot ceilings and skylights. Another is Water’s Edge in Playa Vista, where Nike has taken over a building on a campus that includes an Olympic-sized pool.
Read more by Hadley Meares at: The Hollywood Reporter
|
|
A. Single Family Homes For Sale
Last week: none
This week: 1 listing at $2,599,000, new!
Matisse, 6692 Para Way
$1,995,000 | 3BR, 3BA | 2444 SF
new! MLS #SR22120534CN - open Sat (6/11) & Sun (6/12)
|
|
|
B. Phase 1 - Condos/Townhomes For Sale
Last week: 9 listings, $1,410,444 avg price
This week: 10 listings, $1,398,400 avg price, 2 new!
Avalon #419, 13075 Pacific Promenade
$835,000 | 2BR, 2BA | 912 SF
new! MLS #22-162115 - open Sat (6/11) & Sun (6/12)
Bridgeway Mills, 5400 Playa Vista Drive #23
$1,590,000 | 3BR, 3BA | 2050 SF
MLS #22-149601 - open Sat (6/11) & Sun (6/12)
Crescent Walk #212, 13200 Pacific Promenade #212
$625,000 | 1BR, 1BA | 642 SF
MLS #22-155711 - open house Sun (6/12)
The Dorian #106, 6241 Crescent Park
$1,700,000 | 3BR, 3BA | 2400 SF
new! MLS #22-165995 - open Sat (6/11) & Sun (6/12)
The Dorian #111, 6241 Crescent Park
$1,475,000 | 2BR, 3BA | 1780 SF
MLS #22-159519 - open house Sun (6/12)
The Metro #211, 5625 Crescent Park
$1,125,000 | 2BR, 2BA | 1611 SF
MLS #22-160293 - open house Sun (6/12)
Paraiso #202, 13173 Pacific Promenade
$1,899,000 | 3BR, 3BA | 2660 SF
MLS #22-163545
Promenade #125, 13044 Pacific Promenade
$1,150,000 | 2BR, 2BA | 1304 SF
MLS #22-162199
Tapestry, 5701 Kiyot Way #4
$1,495,000 (reduced) | 2BR, 3BA | 1640 SF
MLS #22-140999
Tapestry, 5700 Seawalk Drive #11
$2,090,000 (increased) | 3BR, 4BA | 3207 SF
MLS #22-135999
|
|
|
C. Phase 2 - Condos/Townhomes For Sale
Last week: 2 listings, $2,512,000
This week: 3 listings, $2,283,000, 1 new!
Camden, 12518 Fielding Circle #1
$1,825,000 | 3BR, 2BA | 1601 SF
new! MLS #22-161017 - open Sun (6/12) & Tues (6/14)
Camden, 12895 Runway Road #2
$2,375,000 | 4BR, 4BA | 2224 SF
MLS #21-100687
Skylar, 12468 Osprey Lane #1
$2,649,000 | 4BR, 4BA | 2638 SF
MLS #PV22088057MR
|
|
|
|
This week's avg 30-yr fixed-rate: 5.23%
After little movement the last few weeks, mortgage rates rose again on the back of increased economic activity and incoming inflation data. The housing market is incredibly rate-sensitive, so as mortgage rates increase suddenly, demand again is pulling back. The material decline in purchase activity, combined with the rising supply of homes for sale, will cause a deceleration in price growth to more normal levels, providing some relief for buyers still interested in purchasing a home.
|
|
|
|
Half of Homebuyers Cry At Least Once While Shopping For A Home: Survey
by Ben Verde, Inman, 6/6/2022
Buying a home can be as stressful as planning a wedding or getting fired for Americans, half of whom find themselves in tears at least once during the process, according to a new survey.
Conducted by Zillow, the survey found that 50 percent of homebuyers said the process left them in tears, with millennial and Generation Z buyers — who are most likely to be buying their first home — leading the pack, with 61 percent of millennials and 65 percent of Gen Zers reporting tears, according to Zillow.
Read more by Ben Verde at: Inman
|
|
|
Parents Are Buying Homes for Kids Priced Out of the Housing Market
by Claire Ballentine & Paulina Cachero, Bloomberg, 6/7/2022
Even as the US real estate market shows signs of cooling, inflation and higher interest rates are making it difficult for young house hunters to buy properties — at least on their own.
Parents are increasingly helping their adult children purchase homes, whether that means co-signing a mortgage, giving money for a down payment or buying the property outright, according to real estate agents across the country.
Read more by Claire Ballentine & Paulina Cachero at: Bloomberg
|
|
|
Statistics - Playa Vista Homes Recently Sold
Condominiums - Sold in April
Avg List Price of homes sold: $1,495,876
Average Sold Price: $1,565,118
Average Sold $/SF: $871.08
No. Homes Sold: 17
Sold Range: $820,000 - $2,211,000
Single Family Homes - Sold in April
Avg List Price of homes sold: $2,350,000
Average Sold Price: $2,350,000
Average Sold $/SF: $1,076.01
No. Homes Sold: 1 source: data compiled from The MLS
|
|
|
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
|
|
|
|
|
|
|
|
|
|
