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Endre Barath,Jr.'s Blog

By Endre Barath,Jr. | Agent in Beverly Hills, CA
  • The Westchester Median Sold Month over Month is up by 27%!

    Posted Under: Market Conditions in Westchester, Home Buying in Westchester, Home Selling in Westchester  |  April 25, 2014 1:07 PM  |  275 views  |  No comments

    The Westchester Los Angeles Community: Median Sold Month over Month is up by 27%! Just amazing!

    Westchester is not very well known outside of Los Angeles,CA. It is a community that has experienced many transitions. In the early 1950's it was a vibrant community which grew to a population of about 30,000 or more. Then the Los International Angeles Airport (LAX) took a large part of Westchester by eminent domain and the residential community shrunk to about 15,000 +/- residents.

    The community was always a last resort so it did not grow a great deal, mostly this was due to the Airplane noise of LAX which many homes are affected by. Then in the past 20 years it has received a resurrection. There were many people who chose to stay on the "West Side" rather than live in the "San Fernando Valley" and the price point kept increasing, this was clearly due to supply & demand.

    Today there are virtually no homes under $750,000.00 on the market. One of my clients is considering this area for buying a home. She asked me to do a Market Assessment. Not only was she surprised but so will you. Since last year there has been a 27% price increase Month over Month. Anyway instead of me telling you. See for your self!


    Westchester Median Sold Month over Month, Endre Barath Los Angeles Realtor


    If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Culver City, Playa Vista, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 or email me at homes@endrebarath.com or visit one of my websites at http://www.endrebarath.com Your Pet Friendly Realtor. I contribute a portion of my commission to Local Animal Rescue Organizations.

  • Beverly Hills Single Family Statistics that SOLD in October 2013!

    Posted Under: Market Conditions in Beverly Hills, Home Selling in Beverly Hills, Investment Properties in Beverly Hills  |  November 12, 2013 11:44 PM  |  299 views  |  2 comments

    Beverly Hills Single Family Statistics that Sold in October 2013!


    As most of you know, I rarely do market snapshots, only when someone asks. Interestingly enough I was asked being a Beverly Hills Realtor, hence my clients have been reading some of the headlines and wanted the “Truth” so they called me. Needless to say I felt this deserved a Blog PostJ!


    The concern was that there is a pause in the sales in Beverly Hills. Specifically in the Single Family Market is what they were interested in.  Furthermore the question was what sold and for how much? So with that said you tell me how the month of October fared? J


    I would also suspect you would be interested on what the highest priced home looked like so here are a few pictures!

    tower road Beverly Hills, Endre Barath


    Beverly Hills Single Family Home Sales
    October 2013


     


    Total Sold Dollar Volume:

    $ 121,468,175

    Average Selling Price:

    $ 9,343,705

    Average List Price:

    $ 10,614,538

    Avg Sales Price/Avg. List Price:

    88.0%

    Median Price:

    $ 6,000,000

    Average Days on Market:

    120

    Number of Listings Sold:

    13


     Sold Listings:


    1.

    442 S WETHERLY DR

    $ 1,455,000

    2.

    201 S SWALL DR

    $ 1,660,000

    3.

    206 N OAKHURST DR

    $ 2,226,000

    4.

    253 S LINDEN DR

    $ 4,675,000

    5.

    516 N HILLCREST RD

    $ 4,700,000

    6.

    712 N REXFORD DR

    $ 5,592,175

    7.

    607 N ROXBURY DR

    $ 6,000,000

    8.

    703 N LINDEN DR

    $ 7,210,000

    9.

    729 N RODEO DR

    $ 7,950,000

    10.

    1200 CHANRUSS PL

    $ 13,500,000

    11.

    9425 SUNSET

    $ 19,500,000

    12.

    9425 SUNSET

    $ 19,500,000

    13.

    1146 TOWER RD

    $ 27,500,000


     


    Single Family - Number of Bedrooms

    Price Class

    2 or less

    3

    4

    5 or more

    $1 - $200000

    0

    0

    0

    0

    $200001 - $300000

    0

    0

    0

    0

    $300001 - $400000

    0

    0

    0

    0

    $400001 - $500000

    0

    0

    0

    0

    $500001 - $600000

    0

    0

    0

    0

    $600001 - $700000

    0

    0

    0

    0

    $700001 - $800000

    0

    0

    0

    0

    $800001 - $900000

    0

    0

    0

    0

    $900001 - $1000000

    0

    0

    0

    0

    $1000001 - $2000000

    0

    1

    1

    0

    $2000001 - $3000000

    0

    0

    0

    1

    $3000001 - $4000000

    0

    0

    0

    0

    $4000001 - $5000000

    0

    0

    0

    2

    $5000001 - $10000000

    1

    0

    0

    3

    $10000001 - $100000000

    0

    0

    0

    4


     


    DOM

    No. Of Units

    1 - 30 Days

    2

    31 - 60 Days

    4

    61 - 90 Days

    2

    91 - 120 Days

    1

    Over 120 Days

    4


     tower road beverly hills, Endre barath


    Clearly you can see that there is activity and real buyers are willing to pay close to the asking price i.e.: 88% of the asking price is not unusual in the high end homes. Should you like to get a free market evaluation of your home or if you have a home in mind that you would like to buy, please reach out to me?


    If you are considering buying or selling a luxury home, or an ultra luxury home, or luxury investment real estate, or luxury vacation homes, or luxury beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 or email me at homes@endrebarath.com or visit one of my websites at http://www.endrebarath.com     I am a Pet Friendly Realtor and I contribute a portion of my commissions to local animal rescue organizations.  


  • Considering buying a home for the first time: check out these 7 points!

    Posted Under: Market Conditions in Los Angeles County, Home Buying in Los Angeles County, Financing in Los Angeles County  |  August 12, 2013 8:51 AM  |  644 views  |  No comments

    Considering buying a home for the first time check out these 7 points!

    homes for sale in Los Angeles, Endre Barath

    If you are considering buying a home for the first time do you know what are the seven most important points you should consider?


    The first and most important point to decide is what is your budget? Home much house per month can you afford?  Once you determined this critical point then it is time to connect with a Realtor who can refer you to a Mortgage Broker to figure out your buying power. Once you know what you can afford, now it is time to go to step two.


    The second step is to look at the various communities where you would like to live and figure out how much house you can buy. This is where you reach out to that Realtor and discuss your wants and needs. The Realtor should be able to offer you ideas what you can get in your price range. Once you have decided which pockets you are interested in, then it is time to go to the third step.


    The third step consists of being on a search program where you get the newest and freshest listings from the local Multiple Service which you can get in real time. Hence you and your Realtor will be looking at the same information. As you are looking the properties you get a feel for the values and after a while you will know what a truly good deal is.


    The fourth step should be done in conjunction with the third step, go to open houses in the neighborhoods you are considering.As you do that, you get a better understanding of the values as well as you get to see how much traffic there is in your price range as to who and how many competition you are facing.


    The fifth step should be also in conjunction with the third and fourth steps. Communicate with your Realtor about the pace of the market in your neighborhood as well as in your price range to get a better understanding of how to prepare a potential offer once you find your home that you want to buy.


    The sixth step is critical, when you have your proof of funds and your preapproval and you are motivated to buy the house that you would like to live in now, and then you need to move up your priorities. If you get a listing in the middle of the week, do not wait till the end of the week, call or email your Realtor immediately that you want to get into that house ASAP. That way you can be ready to decide if you want to submit an offer or not.


    The seventh step is easy, if you liked the house, and then submit an offer based on an understanding of the market and the value of the property and that will just about insure a guaranteed recipe to be able to buy your home. Guess what if you did not get it review the reasons and repeat steps five through seven on the next house.


    If you are considering buying or selling a luxury home, or an ultra luxury home, or luxury investment real estate, or luxury vacation homes, or luxury beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 or email me at homes@endrebarath.com or visit one of my websites at http://www.endrebarath.com Your Pet Friendly Realtor. I contribute a portion of my commission to Local Animal Rescue Organizations


     
     
  • What is a “Timeless Question in Real Estate”? “Is this a good time to buy?”

    What is a “Timeless Question in Real Estate”? “Is this a good time to buy?”

    If you have been a Realtor one year or a hundred years like me. The reoccurring question comes up from “First Time Buyers”: Is this a good time to buy? Normally the “Used car salesmen mentality” kicks in to too many Real Estate Sales Associates, “It is always a good time to buy” answer. Now to the Professionals i.e.: Realtors real research goes in to the answer.

     Questions get bombarded to the potential client: Why do you want to buy? What do you want to accomplish? What is your short term objective? What is your long term objective? What are you paying for rent now? How much are you comfortable paying per month? What is your dream home? The questions go fast and furious. How is your credit? How much do you have saved up? What is your comfort level? Do your tastes conform to your budget? Are you willing to compromise and where?

    Once the Realtor has the answers, then an intelligent answer can be given: Yes it is a good time to buy, since interest rates are at a 60 year low, prices in the Greater Los Angeles area are at 2003 prices. Since I am a Beverly Hills Realtor I see that homes that are selling for $1.3million in Beverly Hills are usually “teardowns”. My question comes in: Do you want to have a move in ready home? Or are you willing to spend $200,000 or more to make it comfortable to your life style?

    OK I have to put this out; I do not care if your budget is at the low end or at the high end. Generally you will not find the “perfect home no matter what your budget is. Truly” a good example is Candy Spelling’s home, as most of you know was listed for $150million in Beverly Hills,CA. She sold it for a bit less to Petra Ecclestone, for a mere $85 million. The important point here is what did she do(Petra that is)? She had to spend money on making it to her taste, Period! So I do not care if you are buying a home for $150,000 or $150 million the answer is the same. Is it a good value to you? Yes, you will have to make compromises.  There is no perfect home; hence you need to be realistic where you are willing to compromise. Is it location or is it condition or is it size? Again I could go on and on, the bottom line is “compromise” you must.


     So you ask what the benefit is. The answer is easy: That is the fun of owning your own home. The landlord is you; hence no one can tell you where you can put that Flat Screen TV or that painting, and you are the owner. Freedom to choose your colors, where to put nails on the wall …. I can go on and on.


    With that said is it a good time to buy? The answer is clear to me. Sellers are willing to negotiate, prices are down to 2003 in the greater Los Angeles area, and interest rates are at an all time low 60 years ago prices. So if you need a Realtor who will give you the straight answers. All you have to do is e-mail me with your questions.

    If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Culver City, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 email me at homes@endrebarath.com or visit one of my websites at http://www.endrebarath.com Your Pet Friendly Realtor. I contribute a portion of my commission to Local Animal Rescue Organizations.



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