|
|
|
|
Insider's Guide to Real Estate in Playa Vista
11/19/2022: Why aren't home prices falling as fast as mortgage rates are rising?
This Week's Contents
1. This Week in Playa Vista
2. Warriors Esports Affiliate Golden Guardians Unveils New Ops Center
3a. Phase 1 - Single Family Homes For Sale: none
3b. Phase 2 - Single Family Homes For Sale: 2 listings
3c. Phase 1 - Condos/Townhomes For Sale: 5 listings (2 new!)
3d. Phase 2 - Condos/Townhomes For Sale: 6 listings (1 new!)
4. This week's avg 30-yr fixed-rate: 6.61%
5. Why Aren't Home Prices Falling as Fast as Mortgage Rates Are Rising?
6. Economist Explains Why The 'Floor Is Coming' For US Housing Market
7. Statistics - Playa Vista Homes Recently Sold
8. Illustrated Playa Vista Map
|
|
|
THIS WEEK IN PLAYA VISTA
1. Farmers' Market
11/19 (Saturday) - 9am to 2pm along Millennium Drive
2. RIVIL Grand Opening
11/19 (Saturday) - at Runway Retail
* Try your first Fire & Ice Treatment! Drinks, DJ, outdoor ice baths & more.
3. Playa Vista FriendsGiving
11/20 (Sunday) - 11am to 2pm at Runway Town Center
|
|
|
|
Warriors Esports Affiliate Golden Guardians Unveils New Ops Center
By Kevin Hitt, The Esports Observer, 11/18/2022
The Warriors took the next step in the evolution of their esports efforts, as the NBA team unveiled a new 10,742-square-foot operations facility for its Golden Guardians team, which fields squads in League of Legends (LCS), Apex Legends, Teamfight Tactics and World of Warcraft.
The facility, which was designed by L.A.-based architectural firm Oonagh Ryan, is located in Playa Vista, which is on the west side of L.A. It will house the organization’s esports business office, a training facility for players and coaches, a creative studio and a wellness center.
Read more by Kevin Hitt at: The Esports Observer
|
|
A. Phase 1 - Single Family Homes For Sale
Last week: 1 listing at $1,950,00
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: no change
Asher, 5825 W Seaglass Circle
$2,899,990 | 4BR, 4BA | 2757 SF
MLS #TR22239015MR - open house Sat (11/19)
Jewel, 5912 Village Drive
$4,980,000 | 4BR, 6BA, | 4279 SF
MLS #SB22204850MR
|
|
|
C. Phase 1 - Condos/Townhomes For Sale
Last week: 4 listings, $1,312,250 avg price
This week: 5 listings, $1,337,600 avg price (2 new!)
Concerto Lofts #109, 13045 Pacific Promenade
$1,040,000 | 1BR, 2BA | 1220 SF
new! MLS #22-218021 - open Sat (11/19) & Sun (11/20)
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 - open house Sat (11/19)
The Metro #320, 5625 Crescent Park
$1,499,000 | 3BR, 3BA | 2180 SF
new! MLS #SB22243806MR
The Metro #341, 5625 Crescent Park
$1,200,000 (reduced) | 2BR, 3BA | 1670 SF
MLS #22-209695 - open house Sun (11/20)
|
|
|
D. Phase 2 - Condos/Townhomes For Sale
Last week: 5 listings, $1,927,800 avg price
This week: 6 listings, $1,978,000 avg price, 1 new!
Camden, 12887 Runway Road #4
$1,849,000 (reduced x2) | 3BR, 3BA | 1875 SF
MLS #22-207590 - open house Sun (11/20)
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 (11/20)
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
new! MLS #22-218334 - open house Sun (11/20)
|
|
|
|
This week's avg 30-yr fixed-rate: 6.61%
Mortgage rates tumbled this week due to incoming data that suggests inflation may have peaked. While the decline in mortgage rates is welcome news, there is still a long road ahead for the housing market. Inflation remains elevated, the Federal Reserve is likely to keep interest rates high and consumers will continue to feel the impact.
|
|
|
|
Why Aren't Home Prices Falling as Fast as Mortgage Rates Are Rising?
by Giulia Carbonaro, Newsweek, 11/18/2022
The housing market usually follows a simple rule: when mortgage rates grow higher, demand slows down, eventually cooling down house prices. Then why do home values in the U.S. remain so high, even as the average rate on 30-year mortgages—the most-popular kind for American homebuyers—rose to the highest level since 2002?
"Mortgage rates have jumped with the high inflation and the Federal Reserve's aggressive tightening in monetary policy," Mark Zandi, the chief economist at Moody's Analytics, told Newsweek. "And they're hovering around 7 percent for a 30-year fixed-rate loan, which is more than double what it was at their lowest over a year ago."
Read more by Giulia Carbonaro at: Newsweek
|
|
|
Economist Explains Why The 'Floor Is Coming' For US Housing Market
by Thomas Barrabi, New York Post, 11/17/2022
The US housing market is likely close to hitting a bottom following months of plummeting buyer demand and falling home prices, a prominent economist said in a note to clients this week.
Homebuilder confidence fell for the 11th straight month in November and plunged to its lowest level since June 2012, excluding the COVID-19 pandemic, according to the National Association of Home Builders’ monthly survey.
Read more by Thomas Barrabi: New York Post
|
|
|
Statistics - Playa Vista Homes Recently Sold
Condominiums - Sold in August
Avg List Price of homes sold: $1,087,375
Average Sold Price: $1,105,029
Average Sold $/SF: $832.10
No. Homes Sold: 8
Sold Range: $815,000 - $1,410,000
Single Family Homes - Sold in August
Avg List Price of homes sold: $2,231,650
Average Sold Price: $2,213,942
Average Sold $/SF: $873.92
No. Homes Sold: 3
Sold Range: $1,950,000 - $2,671,825 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
|
|
|
|
|
|
|
|
|
|
