Westlake Village Real Estate Blog

If you want to follow the trends, just follow the headlines. In the past two weeks we have seen headlines pointing to a more positive real estate market. From the Huffington Post and other news outlets, 30-Year Mortgage Rates Top 5%. Why is this positive? As interest rates creep up, sooner or later home buyers begin to notice. The sentiment that there is no hurry, that an even better deal will be there tomorrow, begins to slip away. As this article points out, if interest rates rise from 5% to 6% and the price of a home drops from $500,000 to $450,000, the actual cost of the home over 30 years will be $90,000 higher.

From the LA Times, California Luxury Home Sales Jump 21% (even the wealthy like a bargain). And the Wall Street Journal, Cash Buyers Lift Housing, cites data from the National Associations of Realtors indicating 28% of home sales last year were all-cash deals – double the rate in 2008.

Finally, from the LA Times again, Now May Be the Time to Buy a Home. Says the usually pessimistic economist Christopher Thornberg, principal with Beacon Economics in Los Angeles, “Certainly, we’re pretty sure we’re at the bottom” for home prices, as quoted in the luxury home sales article.

What does it all mean? If you are a home buyer, it may be time to step up to the plate. Stories of homes selling in multiple offers are not uncommon. This means you could soon find yourself paying both a higher interest rate for your mortgage and a higher price for your home.

If you are a seller who is buying up, now may be the time to pick up that dream home. And if you are selling because of a personal or financial situation, don’t wait for prices to rise dramatically unless you have a lot of time. During the 1990s, in the LA area,it took 9.5 years for home prices to regain their 1990 peak.

It’s official: I am pleased to announce that I have earned the nationally recognized Short Sales and Foreclosure Resource certification. The National Association of REALTORS® offers the SFR certification to REALTORS® who want to help both buyers and sellers navigate these complicated transactions, as demand for professional expertise with distressed sales grows.

According to a recent NAR survey, nearly one-third of all existing homes sold recently were either short sales or foreclosures. For many real estate professionals, short sales and foreclosures are the new “traditional” transaction. REALTORS® who have earned the SFR certification know how to help sellers maneuver the complexities of short sales as well as help buyers pursue short sale and foreclosure opportunities.

“As leading advocates for homeownership, REALTORS® believe that any family that loses its home to foreclosure is one family too many, but unfortunately, there are situations in which people just cannot afford to keep their homes, and a foreclosure or a short sale results,” said 2009 NAR President Charles McMillan, a broker with Coldwell Banker Residential Brokerage in Dallas-Fort Worth. “Foreclosures and short sales can offer opportunities for home buyers and benefit the larger community, as well, but it’s extremely important to have the help of a real estate professional like a REALTOR® who has earned the SFR certification for these kinds of purchases.”

The certification program includes training on how to qualify sellers for short sales, negotiate with lenders, protect buyers, and limit risk, and provides resources to help REALTORS® stay current on national and state-specific information as the market for these distressed properties evolves. To earn the SFR certification, REALTORS® are required to take one core course and three Webinars. For more information about the SFR certification, visit www.REALTORSFR.org or call 1-877-510-7855.

Recently listed: This popular one-story four-bedroom, two-bath home in Fountainwood has been nicely updated. There are newer windows and doors, wood flooring, and white kitchen cabinets with slab granitecountertops. The hall bath feaures tile/stone, while the master bath has tile and a spa tub. The family room has a wetbar and high ceilings. The living room offers high ceilings, a fireplace and a skylight. A pool and spa complement the backyard, which offers a mountain view. The home is situated in a nice private location, close to shopping, top-rated Las Virgenes schools and community amenities. Contact me if you would like to arrange a private viewing of this property; the list price is $529,000.

32070 Canterhill Pl., Westlake Village, is one of the most beautiful homes to ever come on the market in Westlake Village! On a recent broker tour, the listing agent commented that the owners spent a million dollars on remodeling it in 2003, and it shows. No stone appears unturned in this Oscar Schuster-built traditional. All baths and the kitchen have been stuningingly remodeled with gorgeous materials. Among its many features: wood floors and wrought iron staircase. The home is over 5,000 square feet on a lot of more than 35,000 square feet, and offers a pool, spa, barbeque, patio, lawn and a dramatic mountain view. Listed at $2,195,000 by Stacy Richardson, Dilbeck Realtors.

5838 Cape Horn Dr., Agoura Hills, on the Lake Lindero Golf Course offers serene grassy views. It has 4 bedrooms and a remodeled kitchen, as well as recently installed A/C, central heating, newer carpet and paint, newer lighting, roof and roller garage door. On a recent broker caravan, bouquets of fresh flowers greeted visitors, creating a welcoming atmosphere in this light and bright home. A nice buy at $494,000. Listed by Jennifer Auten-Ramsyer, Prudential California Realty.

For more details, go to Property Search/Listingbook,.

Welcome to my blog: Westlake Village Real Estate Blog: Real Estate, Life and Times in Westlake Village and Beyond! Here you will find snippets and tidbits about everything from the local real estate market and home loans to happenings and openings around our town.

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5401 Softwind Way

This little gem in the Hillrise neighborhood has great curb appeal and  nice concrete driveway. There are large tile pavers in entry, livingroom, family room and kitchen, which sports granite counters. There are smoothe ceilings throughout, with much recessed lighting and ceiling fans.  The flat backyard features block walls and  a patio slab.  Hillrise offers excellent access to the freeway and shopping. Desirable Las Virgenes  schools. Listed by Rob Jordan, Ewing & Associates Sotheby’s International Realty. $399,000