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Insider's Guide to Real Estate in Playa Vista
10/15/2022: Your $100,000 down payment is now worth $80,000
This Week's Contents
1. This Week in Playa Vista
2. Fall Flavors
3a. Phase 2 - Single Family Homes For Sale: 4 listings
3b. Phase 1 - Condos/Townhomes For Sale: 6 listings (2 new!)
3c. Phase 2 - Condos/Townhomes For Sale: 8 listings (2 new!)
4. This week's avg 30-yr fixed-rate: 6.92%
5. Your $100,000 Down Payment is Now Worth $80,000
6. Why the Fall Housing Market Won't Be Great for Buyers — Or Sellers
7. Statistics - Playa Vista Homes Recently Sold
8. Illustrated Playa Vista Map
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THIS WEEK IN PLAYA VISTA
1. Farmers' Market
10/15 (Saturday) - 9am to 2pm along Millennium Drive
2. Runway Creative Communal Artisan Market
10/15 (Saturday) - 10am to 3pm at Runway Retail
* Local makers, jewelry, leather goods, boutiques, fine art, home goods + free admission!
3. Fall Festival at Free Market
10/15 (Saturday) - 11am to Close at Free Market
* Giveaways, live music, harvest bouquet making, special discounts & more!
4. Live Music @ Runway featuring Loa Greyson
10/15 (Saturday) - 11am - 2pm at Runway Playa Vista
5. Runway Kids Club: Wild Child Gym
10/19 (Wednesday) - 10am to 11am at Runway Playa Vista
* Games, music, movement, creative + imaginary play, exercises + puppet shows
6. Runway Latin Nights
10/21 (Friday) - 5:30pm to 6pm Salsa Lessons; 6:30 to 9pm Live Latin Band
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Fall Flavors
by Kamala Kirk, Playa Vista Direct, 9/29/2022
Now that autumn is officially here, Jeni’s Splendid Ice Creams is getting everyone into the spirit of the season with the “How is it fall already?” collection, which features five classic flavors including Green Mint Chip, Boston Cream Pie, and Cookies in Cream.
Pumpkin Cake Roll is the ultimate fall flavor infused with the same nutty and creamy character of the classic dessert, bursting with brown sugar and warm spices like cinnamon, fennel, star anise, white pepper and ginger.
New to the fall lineup this year is the highly-requested High Five Candy Bar, a mix of ultra-creamy peanut butter ice cream with caramel, chocolate covered pretzels, chocolate flecks and a touch of honey that makes the flavor really pop.
Read more by Kamala Kirk at: Playa Vista Direct
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A. Phase 2 - Single Family Homes For Sale
Last week: 4 listings, $3,341,000 avg price
This week: no change
Collection, 12650 Sunrise Place
$3,495,000 | 3BR, 5BA, | 3639 SF
MLS #22-200827
Everly, 5933 Coral Place
$2,499,000 | 3BR, 4BA, | 2449 SF
MLS #22-204255 - open house Sun (10/16)
Jewel, 5912 Village Drive
$4,980,000 | 4BR, 6BA, | 4279 SF
MLS #SB22204850MR
Woodson, 12824 S. Seaglass Circle
$2,389,000 (reduced) | 3BR, 4BA, | 2184 SF
MLS #22-195817
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B. Phase 1 - Condos/Townhomes For Sale
Last week: 8 listings, $1,329,750 avg price
This week: 6 listings, $1,225,333 avg price, 2 new!
Catalina #202,12963 Runway Road
$829,000 | 2BR, 2BA | 914 SF
new! MLS #22-208289
Coronado #407, 7100 Playa Vista Drive
$1,745,000 | 4BR, 4BA | 2108 SF
MLS #22-203807 - open house Sun (10/16)
Crescent Walk #309,13200 Pacific Promenade
$829,000 | 2BR, 2BA | 836 SF
new! MLS #22-208537 - open house Sun (10/16)
The Metro #136, 5625 Crescent Park
$1,250,000 | 2BR, 3BA | 1675 SF
MLS #22-189789
The Metro #413, 5625 Crescent Park
$1,049,000 | 2BR, 2BA | 1650 SF
MLS #22-193459
Paraiso #205, 13173 Pacific Promenade
$1,650,000 | 3BR, 3BA | 2215 SF
MLS #22-194791 - open house Sun (10/16)
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C. Phase 2 - Condos/Townhomes For Sale
Last week: 6 listings, $2,285,667 avg price
This week: 8 listings, $2,222,875 avg price, 3 new!
Camden, 12558 Fielding Circle #2
$2,375,000 | 4BR, 4BA | 2224 SF
new! MLS #22-207547 - open Sat (10/15) & Sun (10/16)
Camden, 12887 Runway Road #4
$1,975,000 | 3BR, 3BA | 1875 SF
new! MLS #22-207590 - open Sun (10/16) & Tues (10/18)
Camden, 12895 Runway Road #2
$2,375,000 | 4BR, 4BA | 2224 SF
MLS #21-100687
Cleo, 12765 Bluff Creek Drive #2
$2,600,000 | 3BR, 3BA | 2242 SF
MLS #21-197897
Mason, 5848 Suncatcher Place #5
$1,845,000 (reduced) | 3BR, 2BA | 1780 SF
MLS #OC22158583MR
Seabluff #112, 6030 Seabluff Drive
$2,199,000 (reduced) | 3BR, 3BA | 2005 SF
MLS #22-178029
Skylar, 12491 Osprey Lane #1
$2,149,000 | 4BR, 4BA | 2638 SF
new! MLS #22-195027
Skylar, 12642 Sandhill Lane #1
$2,345,000 (reduced) | 4BR, 4BA | 2638 SF
MLS #OC22156006MR
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This week's avg 30-yr fixed-rate: 6.92%
Rates resumed their record-setting climb this week, with the 30-year fixed-rate mortgage reaching its highest level since April of 2002. We continue to see a tale of two economies in the data: strong job and wage growth are keeping consumers’ balance sheets positive, while lingering inflation, recession fears and housing affordability are driving housing demand down precipitously. The next several months will undoubtedly be important for the economy and the housing market.
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Your $100,000 Down Payment is Now Worth $80,000
by Kim Velsey, Curbed, 10/11/2022
In August, Becki Danchik, a broker with Coldwell Banker Warburg, listed a $385,000 studio on the Upper West Side. Within ten days, it was in contract for over the asking price. The housing market was cooling at the time — the interest rate was in the 4 percent range in early August — but the apartment was in a sought-after line in a doorman building and New York doesn’t have a lot of inventory in what passes for the starter-home category.
But in the brief window between when the contract was signed and the buyer applied for a mortgage, the mortgage rate had climbed to 5 percent — it would soon climb to around 7 percent — and that wouldn’t lock until the co-op board green-lit the buyer (a process that at best takes about a month)...
Read more by Emily Peck: Axios
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Why the Fall Housing Market Won't Be Great for Buyers — Or Sellers
by Aly J. Yale, Money, 10/7/2022
The housing market is having a bit of a Dr. Jekyll-Mr. Hyde moment.
On the one hand, buyers are finally getting some relief from the skyrocketing prices and break-neck selling speeds of the last two years. On the other, mortgage rates are soaring — reducing affordability and keeping would-be sellers on the sidelines.
The result is a market that’s better for some, worse for others and, well, not really ideal for anyone.
Read more by Aly J. Yale at: Money
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Statistics - Playa Vista Homes Recently Sold
Condominiums - Sold in July
Avg List Price of homes sold: $1,298,500
Average Sold Price: $1,319,692
Average Sold $/SF: $874.59
No. Homes Sold: 13
Sold Range: $627,500 - $2,210,000
Single Family Homes - Sold in July
Avg List Price of homes sold: $2,474,500
Average Sold Price: $2,525,000
Average Sold $/SF: $1,048.59
No. Homes Sold: 2
Sold Range: $2,350,000 - $2,700,000 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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