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Linwood Fullam's Blog

By Linwood Fullam, III | Agent in Burbank, CA
  • Apartment rents rise, and apartment buildings drive growth.

    Posted Under: General Area in Los Angeles, Property Q&A in Los Angeles, Investment Properties in Los Angeles  |  May 19, 2014 11:35 AM  |  155 views  |  No comments

    Apartment construction is surging, in the Burbank area, and in Southern California.

    New apartments and condominiums drove building permits up 8% in April from the prior month, to their fastest pace in nearly six years, the Commerce Department reported Friday.

    Housing starts — which measure the launch of construction — climbed 13.2%. Most of the growth came in multifamily building, which is now back at pre-recession levels and up 15% through the first four months of the year compared with the same period last year, even as permits for single-family homes remain sluggish.

    All this building comes as rents continue to rise — in Southern California and the Burbank area— and reflects growing demand for apartments and optimism from big builders that demand will keep pushing those rents higher even as more supply comes onto the market.

    "It's a wildly different market than it used to be," says Linwood Fullam, a real estate agent that owns  in Southern California. "I would wager we can get 5% to 8% rent growth a year over the next 10 years."

    Fullam, like others in the business, sees multiple factors driving demand.

    The economy is improving, which means more twentysomethings who've been living with their parents or piling in with roommates can afford their own apartments.

    At the same time, the for-sale housing market is still tough — with prices and lending standards high — keeping more thirtysomethings paying rent instead of jumping into home ownership.


    And then there's a growing cadre of people of all ages who are renters by choice, preferring the flexibility of an apartment and often willing to pay for top-end properties.

    So AvalonBay is building. The company has seven projects in Little Tokyo, where studio apartments start at $1,995 — and an eighth on the way. 

    "We're very bullish on Southern California," he said. "The recovery in Southern California has been a bit muted compared to the rest of the West Coast, but now we're starting to see some traction."

    Building permits were issued for nearly 17,000 units in apartment and condo buildings in Los Angeles and Orange counties last year, the most since 2006, according to the Census Bureau. Through March of this year, permits were up 30% from the same three-month period last year.

             If you are a real estate investor, or want to learn about Real Estate Investing please call or          text Linwood Fullam. I'm a Burbank based realtor and am happyt to talk with you!

  • Harry Styles, British Boy Band Leader Buys Bev Hills Bachelor Pad

    Posted Under: General Area in Los Angeles, Quality of Life in Los Angeles, Celebrity Homes in Los Angeles  |  April 15, 2014 10:12 AM  |  386 views  |  No comments

    I just heard word from that British bubble gum pop boy bander Harry Styles bought a bachelor pad mini-compound on a gated, celeb-approved street in the Post Office area of Beverly Hills.


    According to our sources, Mister Styles—just twenty years old, wild-maned, prodigiously tatted up and one of vindictive pop country superstar Taylor Swift's ex-boyfriends—purchased the property via trust in late February for, according to property records, exactly $4,000,000.

    Listing details show the glassy, post and beam-built main house was originally built in 1967 and later reworked by Bogata, Columbia-born and L.A.-based contemporary architect Alejandro Ortiz who, amongst other modernizing conceits, wrapped the exterior in a unifying skin of thin, horizontal wood slats. Listing details don't indicate the square footage of the residence but the Los Angeles County Tax Man puts it at 2,820, a figure that may or may not be accurate and probably does not include the detached guest house tucked under the street-level three-car garage.

    A gated entry at the street opens to an unexpectedly and exceptionally long, tree- and vine-enshrouded elevated covered bridge that spans and overlooks a lushly landscaped sunken central courtyard. While this is certainly an unusual feature sure to be a topic of conversation at all future pool and dinner parties it also means Hortencia the Housekeeper will need to be paid extra a few extra shekels to schlep the groceries all the way from the driveway and garage. Anyways...

    The (rather fuzzy) floor plan included with digital marketing materials suggests there are four or possibly five bedrooms and 3.5 bathrooms spread throughout the three story main residence. They include a pair of canyon-view guest/family bedrooms that share a hall bathroom and a garden level master suite with two walk-in closets and a compartmentalized bathroom. Entire walls of glass on opposite ends of the master bedroom provide direct access to a slender veranda that overlooks the rugged canyon behind that house and a semi-private outdoor lounge that opens to the verdant central courtyard.

    Wood floors extend throughout the uppermost main level where an open-concept main living space a a frosted glass-faced fireplace and both canyon and courtyard views in the living area and a wet bar and a long wall of canyon view floor-to-ceiling windows in the dining area.

    The well-equipped kitchen a sleek white and off-white cabinetry topped with bright orange counter tops. Now, children, nobody loves the color orange more. Indeed we have a newly installed shower coated entirely in tangerine-hued glass tiles. However, hunties, iffin we're being honest—and we always are—these electric orange counter tops in this kitchen give us the willies. Even more mortifying, however, is the amoebic, built-in snack bar peninsula that, frankly, does a lousy and odd job of dividing the kitchen area from the main living/dining area. Surely there is a better solution than this, right? But we digress...

    More successful by this property gossips utterly meaningless opinion are the adjacent, tree house-like breakfast room and, at the opposite end of the house, a roomy den where a single, simple wood plank that serves as home office space spans the full width of the room in front of a solid wall of floor-to-ceiling glass.

    The lowest level of the house has, as best as we can tell, an en-suite bedroom with private deck, a large laundry room, and a flexi-use room that opens to its own wrap-around deck that all but hangs over the canyon. The detached guest house—located, as we mentioned before, across the sunken courtyard from the main house under the street-level three car garage—has a combination living/dining/kitchen lined with simple plywood bookshelves, a separate bedroom, and a good-sized bathroom with separate tub and stall shower.

    A series of shaded verandas and and multi-level decks linked by a dramatically and wonderfully wide stairway descends grandly from the upper level of the main house to the courtyard where in addition to a patch of grass large enough for a rousing, booze-fueled game of badminton—shuttlecock, anyone?—there's a simple, rectangular swimming pool backed by a towering, privacy-ensuring wall of trees and shrubs.

    Some of Mister Styles's nearest neighbors in his new Bev Hills Post Office nabe include age-defying actress Demi Moore, Beverly Hills Housewives' Lisa Vanderpump and hubby Ken Todd, tennis-loving comedian Jon Lovitz, and veteran actor Jon Voight. Last October, celebrity real estate watchers will recall, Mark Wahlberg sold his long-time compound for almost $13 million and moved to a custom-built mega manse on more than six acres in the guard-gated Beverly Park development.

    Mister Styles, like many famous folk of his vaunted stature, is ften rumored to be snatching up multi-million dollar residences—including this four-floor waterfront manse in Key Biscayne, FL, that he did not buy—but the only home  Mister Styles actually owns is a gated and high-walled three-story house on a fairly busy road in North London's semi-urban and partly pastoral Hampstead Heath area that he picked up about a year and a half ago for about £3,000,000.

    NOTES: For a handful of photos of the residence at the time of it's renovation by Alejandro Ortiz, have a look see here.
  • HGTV is looking for Los Angeles Home Buyers and Sellers to film for their TV Show

    Posted Under: Home Buying in Los Angeles, Home Selling in Los Angeles, Celebrity Homes in Los Angeles  |  July 24, 2013 1:03 PM  |  511 views  |  No comments

    HGTV is now looking for dynamic, outspoken couples or families searching for a home in the greater Los Angeles area to appear in a new real estate television series. If you're searching for a unique home, or just the right place to call your dream home, or think that having your home search televised would be a positive experience then apply with me now to be a part of the show. I will represent you as your buyers agent and hopefully HGTV will pick you as their home buyer for LA.

    If you're interested please send me an email with the following information to LFullam@ziprealty.com so that we can apply to be on the show.

    • Your name, family names, contact number and email address
    • City where you’d like to move (greater Los Angeles only)
    • Your price range
    • Photos of the family
    • A paragraph about why you’re ready to move

    HGTV is also looking for dynamic and outspoken sellers in the greater Los Angeles area. If you have a house ou're considering putting on the market, or you're having difficulty in pricing your home, or your house has unique qualities that buyers don't seem to appreciate, then apply to be a part of the show.  Send me an email with the following information to LFullam@Ziprealty.com

    • Your name, contact number and email address
    • City where your home is located (greater Los Angeles only)
    • Listing price range
    • Photos of the family and the house
    • A paragraph about why you need help selling your house
  • Los Angeles Home Prices Up 21%, and Sales up too!

    Posted Under: Home Buying in Los Angeles, Home Selling in Los Angeles  |  March 14, 2013 9:25 AM  |  321 views  |  1 comment

    According to the LA Times, Southern California once again saw strong home price increases last month as the percentage of absentee buyers hit a record high and cash buyers remained a dominant force.

    The six-county Southland saw the median home price rise nearly 21% over the year, while remaining essentially flat compared with January, real estate information provider DataQuick said Wednesday. I cover Burbank and Toluca Lake, and home prices in these areas have definitely clibmed as well, by about 20% like the LA Times indicated.
     
    If you are interested in what your home is currently worth, please call Linwood Fullam, I will be happy to privide you with a complimentary, no obligation, estimate.

    A total of 15,945 new and resale homes and condos sold in February — the highest volume for a February in six years. Buyers in Southern California paid a median of $320,000 last month as fewer homes sold in lower-cost Riverside and San Bernardino counties that have become a haven for investors looking to flip or rent out houses.

    Southern California's housing recovery: An interactive map

    “Most every gauge shows prices are up significantly over the past year, even after adjusting for changes in the types of homes selling,” DataQuick President John Walsh said in a statement.

    Still, last month's median price was still well off the 2007 peak of $505,000, Walsh noted.

    The median sales price is the point at which half of homes sold for more and half sold for less; it is influenced by the types of homes selling as well as a general rise or fall in values.

    Home prices have been on the rise as inventory has tightened significantly and interest rates have remained low. Investors have scooped up many low-priced and bank-owned properties to rent or flip and foreclosures have made up a declining share of homes sold.

    Foreclosed homes were 15.8% of the resale market last month, down from 32.6% a year earlier.

    Absentee buyers — chiefly investors, along with some second-home buyers — accounted for 31.4% of home sales in February, the highest figure since DataQuick began tracking the figure in 2000. Buyers paying with cash purchased a near-record 35.6% of homes.

    Data from the previous two months shows investors playing a major role, Walsh said. But that may be influenced some by the holiday house-hunting season, which tends to skew the buyer pool more toward investors.

    “March and April will offer a better view of how broader market trends are shaping up this year,” Walsh said. ”One of the real wild cards will be how many more homes go up for sale. More people who've long been thinking of selling will be tempted to list their homes at today's higher prices.”

    As prices rise, more homeowners will escape their negative equity positions, allowing them to sell their homes and potentially loosening supply. “A meaningful rise in the supply of homes on the market should at least tame price appreciation,” Walsh said.

    All counties — Los Angeles, Orange, Riverside, San Bernardino, San Diego and Ventura — saw significant price increases.

    Orange County saw the most dramatic price gains as the county’s median sales price rose 22.3% to $477,000. In Los Angeles County, the median sales price rose 17.1% — a sizable jump, but the smallest of the region. Buyers there shelled out a median of $350,000. If you are interested in what your home is currently worth, please call Linwood Fullam, I will be happy to privide you with a complimentary, no obligation, estimate.

  • How to Reach One Million Dollars - Step by Step System

    Posted Under: Home Buying in Los Angeles, Investment Properties in Los Angeles  |  August 23, 2012 11:43 AM  |  287 views  |  No comments

    This month's Money Magazine gives 3 step-by-step systems to reach $1,000,000. The first system is investing in Real Estate, specifically rental units of 2-3 unit buildings (duplexes or tri-plexes).

    I was very interested in their technique which suggests buying cheaper properties that are in out of the way areas such as Sacramento. In Los Angeles county some cheaper areas are Sun Valley, Panorama City, Canyon Country, Palmdale, and Lancaster. I found a niced fixed up $249,000 duplex which provides rental income of $2,200/month or $26,200 per year. Expenses would vary depending on you downpayment, but the math works! If you borrow 80% of the purchase price your mortage would be $200,000, and the payment on that is $954 for P&I. The article goes on to say that over the long term, a modest estimate of 2% increase in the value of the properties per year you'd be at $1,000,000 in equity and rental income within 20 years. If you pay more on the mortgage in 20 years you'd be able to keep almost all the rent as income since the mortgage would be paid off. It's a good read,  just 2 pages, and makes you think!

    Since I'm a Realtor I'd like the opportunity to work with investors who want to get some cash flow going by investing in Rental Properties. Let me know your thoughts!

    About the Blogger: Linwood Fullam is a Burbank Resident who covers the San Fernando Valley for Residentail Real Estate. He works for Rodeo Realty in Studio City. In his free time he plays tennis in Toluca Lake Tennis Club, and with LATA in Beverly Hills.
  • Legal Matters to consider about the HOA when buying or selling a Condo.

    Posted Under: Home Buying in Los Angeles, Home Selling in Los Angeles, Property Q&A in Los Angeles  |  March 14, 2012 11:37 AM  |  384 views  |  No comments

    A lawyer cam into our office in Studio City to talk about laws effecting HOAs and real estate transactions yesterday. It was very interesting, and also troubling.

    One case he talked about was regarding a condo owner who was trying to sell their unit while a renter was living in it. When people came into the unit to see the unit the renter did everything in his power to say that the unit was undesirable including saying that a sex offender lived "nearby".

    In this case "Cross v. Cooper", the sale fell through, and the unit owner sued the tenant. The tenant won siting freedom of speech, and that this was in the "public interest". If I were the seller I'd be mad at my tenant, but I don't think I'd sue. how about you?

    About the Blogger: Linwood Fullam is an experienced realtor with Rode Realty in Studio City. He lives in Burbank. Linwood specializes in working with buyers to get the best deals, and to make the transaction as smooth as possible. He can be reached at Linwood@Rodeore.com



  • What type house does $500,000 buy you in the Los Angeles area?

    Posted Under: Home Buying in Los Angeles, Home Selling in Los Angeles  |  August 25, 2011 7:41 AM  |  224 views  |  1 comment
    Just out of curiosity I searched on residences with the criteria being half a million price tag even. I found everything from a 12 bedroom 6 bath boarding house near UCLA, to a hollywood mansion that needs some work, to a one bedroom in West Hollywood.

    Check out some of the most interesting properties at this link=>
    http://reports.mrmlsmatrix.com/MatrixReportServer/Output/373018/Customer_Full7728.PDF

    What's odd is that there are so many properties listed at $500,000 when many Realtors and marketers would recommend listing at $499,000 to make it look like they are asking less money.

    I am a realtor in Burbank specializing in the East San Fernando Valley including Hollywood, and LA. Please let me know if any of these properties are of interest to  you.

    All the best,

    Linwood Fullam
    Rodeo Realty - Studio City
    (818)207-0070
    http://www.linwoodfullam.com <=> Free Home Search
    Linwood@Rodeore.com

    CA DRE 01895482
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