WESTWOOD
SINGLE FAMILY HOMES
OPEN HOUSE LIST 3/30/08

2/ 1.50 1440 VETERAN AVE 336 $ 439,000 R 632/B4 2 - 4
1/ 1.50 1500 CAMDEN AVE 3C $ 445,000 R 632/B4 2 - 5
2/ 1.50 10404 ILONA AVE 4 $ 515,000 R 632/E5 2 - 5
1/ 1.50 1875 S BEVERLY GLEN 105 $ 539,000 N 632/D3 2 - 5
2/ 2.00 10657 N WILKINS AVE 3 $ 549,000 N 632/C3 1 - 4
2/ 2.00 2307 FOX HILLS DR 202 $ 575,000 R 632/E4 2 - 5
2/ 2.00 1340 S BEVERLY GLEN 202 $ 575,000 N 632/D2 2 - 5
2/ 1.00 1710 MALCOLM AVE 303 $ 579,000 R 632/C4 2 - 5
2/ 2.00 10550 WILSHIRE 603 $ 589,000 R 632/C3 2 - 5
2/ 2.00 2332 FOX HILLS DR 202 $ 589,000 N 632/E4 2 - 5
1/ 2.00 10590 WILSHIRE 902 $ 595,000 R 632/C3 2 - 5
2/ 2.50 1567 MANNING AVE A $ 610,000 R 632/C4 2 - 5
2/ 2.00 1639 CAMDEN AVE 201 $ 625,000 R 632/B4 2 - 5
2/ 2.00 1639 CAMDEN AVE 202 $ 625,000 R 632/B4 2 - 5
2/ 2.00 10345 ALMAYO AVE 105 $ 629,000 R 632/E4 1 - 4
2/ 2.00 1633 S BENTLEY AVE 204 $ 629,000 R 632/B4 2 - 5
2/ 2.00 1639 CAMDEN AVE 203 $ 635,000 R 632/B4 2 - 5
2/ 2.00 10336 ALMAYO AVE 103 $ 649,000 R 632/E4 2 - 5
2/ 2.50 1834 CAMDEN AVE 6 $ 649,000 N 632/B5 2 - 5
2/ 2.00 1639 CAMDEN AVE 301 $ 659,000 R 632/B4 2 - 5
2/ 2.00 1639 CAMDEN AVE 302 $ 659,000 R 632/B4 2 - 5
2/ 2.00 2219 S BENTLEY AVE 104 $ 669,000 R 632/B6 2 - 5
2/ 2.00 1509 GREENFIELD AVE 204 $ 679,000 R 632/B4 2 - 5
2/ 2.00 1872 MIDVALE AVE 105 $ 690,000 N 632/B5 1 - 5
2/ 2.00 1639 CAMDEN AVE 101 $ 699,000 R 632/B4 2 - 5
2/ 2.50 1840 VETERAN AVE 105 $ 699,000 R 632/B5 2 - 5
2/ 2.00 1639 CAMDEN AVE 102 $ 725,000 R 632/B4 2 - 5
2/ 2.00 1639 CAMDEN AVE 303 $ 725,000 R 632/B4 2 - 5
2/ 1.75 10671 HOLMAN AVE 102 $ 749,000 N 632/C4 1 - 5
2/ 2.00 10671 HOLMAN AVENUE 102 $ 749,000 N 1 - 5
2/ 3.00 10327 MISSOURI AVE 301 $ 769,000 N 632/D3 2 - 5
3/ 2.50 1655 SELBY AVE 101 $ 779,000 N 632/B4 2 - 5
2/ 2.00 10501 WILSHIRE BLVD 2210 $ 819,000 R 632/C2 1 - 4
2/ 3.00 1551 GREENFIELD AVE 102 $ 825,000 R 632/B4 1 - 4
2/ 2.00 1520 S BEVERLY GLEN BLVD 507 $ 829,500 R 632/D3 2 - 5
2/ 2.50 10664 WILKINS AVE 203 $ 849,000 R 632/C3 2 - 5
3/ 3.00 10676 WILKINS AVE AVE 303 $ 849,000 R 632/C3 2 - 5
2/ 2.50 10535 ASHTON AVE 303 $ 850,000 N 632/C3 2 - 5
2/ 2.00 1550 GREENFIELD AVE 102 $ 859,000 R 632/B4 2 - 5
3/ 3.50 1520 CAMDEN AVE 305 $ 885,000 R 632/B4 2 - 5
3/ 2.50 10720 OHIO AVE 7 $ 899,000 R 632/C3 2 - 5
2/ 2.00 10756 MASSACHUSETTS AVE 5 $ 939,000 R 632/C4 2 - 5
4/ 2.50 1878 Greenfield AVE 305 $ 986,000 R 632/B5 1 - 4
3/ 3.00 865 COMSTOCK AVE 8D $ 1,149,000 R 632/D2 2 - 5
2/ 2.00 10727 WILSHIRE 505 $ 1,395,000 N 632/B3 2 - 5
2/ 2.50 10727 WILSHIRE 406 $ 1,595,000 N 632/B3 2 - 5
2/ 3.00 10790 WILSHIRE BLVD PH2 $ 1,799,000 R 632/B3 2

10743 Lindbrook Dr. LA CA 90024 finally went into escrow this week after being on the market for 112 days. At $2,125,000,this has been one of the lowest priced homes for sale in Little Holmby during the period while it was on the market. I was very surprised to see this home stay on the market this long. For anyone wanting to get into the coveted area north of Wilshire, this home was a great opportunity at the entry level pricing for homes in that area. I thought the home had tons of character and old world Spanish charm to it that buyers usually jump on. But it may have been the uncoventional layout of the home, with the open-air courtyard in the middle opening to all the bedrooms, that slowed people from purchasing the home.

We have a new entry into the 'Under A Million Club' via the price reduction way. 2367 Greenfield Ave, LA CA 90064 is a remodeled 3+2.75, 1,500 sq ft home on a 5,793 sq ft lot. Its been on the market for 22 days. Previously listed at $1,049,000, the new price is $969,000. I swear minutes before I noticed the new price change show up on the MLS, I was speaking to another broker about this specific property. I was saying that the list price should be about $950,000. And lo and behold a few minutes later the house had a price change. You may be wondering how a remodeled house is being priced this low in Westwood. Typically in our market a remodeled house with this square footage would sell for more. Well, there are several reasons as to why this house is priced lower than one million. First, the house is the last house on Greenfield next to Pico. Therefore it sits right on the alley next to Norms. Second, the house doesn't have a conventional type of floor plan. Your first step into the house is right into the kitchen counter. Overall, the house feels more like a quick flip than a custom remodel job.


LISTING HISTORY
3/6/08 $1,049,000 List Date
3/27/08 $969,000 Price Change- Red. 7.63%

Also available for rent for $4,000

PLEASE NOTE, I have a new cell phone number. The number is 310.500.6107.

LISTING HISTORY
8/20/07 $1,395,000 List Date
10/18/07 $1,395,000 Withdrawn
1/25/08 $1,495,000 Re-list
2/20/08 $1,325,000 Price Change- Red. 11.37%

1545 Kelton Ave, LA CA 90024 is a traditional 3+2, 1,477 sq ft home on a 6,708 sq ft lot. The home has been on the market 108 days for the current listing period.

LISTING HISTORY
6/08/07 $1,400,000 List Date
12/10/07 $1,400,000 Expired
12/11/07 $1,400,000 Re-List
2/01/08 $1,350,000 Price Change- Red. 3.57%



10362 Louisiana Ave, LA CA 90025 is a Spanish 3+2, 2,087 sq ft home on a 6,534 sq ft lot. The house has been on the market 323 days.

LISTING HISTORY
4/23/07 $1,450,000 List Date









355 S Thurston Ave, LA CA 90049 is a Tudor 3+2, 1,691 sq ft home on a 6,900 sq ft lot. This home has been on the market for 63 days.


LISTING HISTORY
1/24/08 $1,550,000 List Date
2/25/08 $1,490,000 Price Change- Red. 3.87%




349 S Thurston Ave, LA CA 90049 is a traditional 3+2.5, 2,241 sq ft home on a 5,960 sq ft lot. The home has been on the market for 5 days.

LISTING HISTORY
3/21/08 $1,495,000 List Date

Hit those breaks. As fast as I could post that 2345 Parnell Ave, LA CA 90064 was back on the market, it has a new accepted offer and is back in escrow. This property was the best of the remaining fixers on the market and I am not surprised it didn't last long back on the open market.

These stats include all areas of Westwood (90024, 90025, 90064).

Source: CLAW MLS -Information deemed reliable but not guaranteed.

Taking a quick glance at these numbers the median and average prices are significantly up in 2008 ytd vs 2007 ytd. Also the average days on market is almost 60% less this year so far. Sales price to list price is slightly up, meaning sellers are getting slightly closer to their asking price. In my last post I talked about how 1/3rd of all homes sold this year are over the sellers asking price. There has been 8 homes sold over asking so far this year. Last year at this same time only 5 homes got over asking price and thats out of 30 homes sold versus only 23 homes sold this year. Lastly, there are two categories that are down in the chart, sales volume and # of sales. Obviously its been documented all over the place that the sales pace is down just about everywhere in the county. With the tightening of the financial sector its made it difficult to get loans. This has put a damper on the total number of sales.

These stats include all areas of Westwood (90024, 90025, 90064).

Source: CLAW MLS -Information deemed reliable but not guaranteed. Market activity represents sales from all brokerages.

After just reviewing the sales statistics for my previous post, an interesting stat jumped out at me. A little over 1/3rd of all the sold properties this year had a sales price over the asking price. Currently it appears that Westwood single family homes may be leaning more towards a sellers' market. This is just more evidence that supports Westwood is a very healthy market and has sustained resiliency under tough economic forces.

These stats include all areas of Westwood (90024, 90025, 90064).

Source: CLAW MLS -
Information deemed reliable but not guaranteed. Market Activity represents sales from all brokerages.

SINGLE FAMILY HOMES

Westwood Active Listings
__________________

< $999,999 -- 4
$1,000,000-$1,499,999 --12
$1,500,000-$1,999,999 --9
$2,000,000 < --12
Total --37

Average Days On Market (Active Listings)
__________________

< $999,999 --44
$1,000,000-$1,499,999 --67
$1,500,000-$1,999,999 --64
$2,000,000 < --66
Total--60

Well in my post from a few days ago I reported that the property had received 7 offers. Well the latest news that I heard was the property had 11+ offers on it and is obviously over the asking price.

Additionally, this property had company with 3 other properties listed for sale with in 2 blocks of it on the same street. 2 of those 3 have received accepted offers as well in the last week, leaving only 1 property left on the street active on the market.

This is short property review for 2034 Fairburn Ave. in Westwood. Besides the home at 2337 Camden, this is my 2nd favorite home currently active on the market. To start with, the street and neighborhood are grade A. The location of the home sits just south of Santa Monica Blvd. on a beautiful tree lined street with many lovely homes. The street is not a major drive through street either because you can’t enter directly onto the street from Santa Monica Blvd. The house is a nicely remodeled 4 bedroom and 2.5 bath Spanish home with a 2nd story. The master is the only room on the 2nd story and opens to a vine covered patio and grassy backyard. The backyard also has a Spanish tile deck attached, perfect for a barbeque and entertaining area. The rest of the bedrooms, living space and kitchen are all on the first floor. The kitchen is very spacious with higher grade stainless steel appliances. I believe in today’s market the asking price of $1,595,000 is appropriate for the condition and location.