John Hagen's Westside Real Estate

11/09/2022

03/09/2015

I hope you all are well. Thank you for "likening" (you get the point..) my Facebook business page. I will be posting what I feel in my expert opinion, good articles from legitimate sources namely the Los Angeles Times.
Also I am in the works on a new Web Page that will also provide you all with resources such access to the MLS, my listings, etc. and possibly a blog..
It is spring time and the sun goes down at 7ish, flowers are blooming so ENJOY , ENJOY, ENJOY...
John Hagen

12/13/2014

2015 just might be the time to buy..?

Freddie Mac recently released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates slightly up from the last week,

08/08/2014

I thought I would post this story, the LA Times did on Rick Caruso back in March. The article gives some insite to Rick's redevelopment plan's for Pacific Palisades.

Just hours before hoisting his Oscar for best picture for "Argo" in February 2013, actor-director Ben Affleck cheered on his daughter Violet as she won the Pacific Palisades spelling bee. Geena...

08/08/2014

Really interesting article in the LA Times Real Estate section: 'Smart' watering systems can help landscapes survive drought http://www.latimes.com/home/la-hm-smart-watering-20140726-story.html =1

With summer heat and deepening drought upon us, the stringent outdoor watering restrictions adopted July 15 by the State Water Resources Control Board present many homeowners with a conundrum: how to keep their landscaping alive while staying compliant. The good news is that a new generation of "sma…

08/05/2014

Welcome to my site, I have had it for a while and finally "going Live". Any suggestions on making it better would be greatly appreciated.

08/05/2014

Well it looks like I am closing my listing in Ventura at 2739 Preble Ave. and I am opening an escrow on my other listing in Westwood 139 Veteran Ave. aka closing on and opening another.
The first picture is of 2739 Preble and charming red home is 139 Veteran

02/10/2014

Southern California’s luxury housing market rebounds
By Gregory J. Wilcox, Los Angeles Daily News
POSTED: 01/30/14, 8:18 PM PST |
The luster came roaring back to the Golden State’s luxury housing market in 2013, as sales of homes costing $1 million or more soared 45 percent to their highest level in six years, a market tracker said Thursday.

Last year, wealthy buyers purchased 39,175 homes costing $1 million or more, versus 26,993 in 2012, said La Jolla-based DataQuick. That’s the most since 42,506 in 2007.

A record number of buyers — 10,602 — ponied up cash for their tony digs, and once again, Southern California dominated the luxury market.

Manhattan Beach recorded 439 million-plus sales — the most in the state in 2013 — edging out Hillsborough in Northern California’s San Mateo County by 3 sales.

Even the dirt in the South Bay seaside city is expensive, and many million-dollar pads don’t even have a Pacific Ocean view.

One of the nicer neighborhoods is just east of Highland Avenue. It’s family oriented and has sidewalks and big lots, said Adolph Janes of Shorewood Realtors in Manhattan Beach.

“Most lots are 7,500 square feet. Those lots start at $2 million,” he said. “The typical 2,000-square-foot house and below — well, we tear those down, and we build new homes.”

Other Los Angeles-area communities on DataQuick’s compendium of most expensive California cities were Brentwood at sixth, Beverly Hills at seventh and Pacific Palisades at eighth. And seven of the state’s top-10 markets were in Southern California.

The return of big money into expensive real estate reflects an improving economy, stock-market rebound and a 20 percent increase in the state’s median home price.

“There is a lot of wealth out there, and people do need someplace to park it. With the increase in California home prices, I think we’ll see more people moving back into residential real estate,” said Kimberly Ritter Martinez, an economist at the Kyser Center for Economic Research in Los Angeles.

Malibu notched the most expensive sale last year — $74.5 million for a 15,355-square-foot, eight-bedroom, 14-bathroom beachfront estate built in 1993, DataQuick said.

The company does not release addresses, but several websites list the estate as 33064 Pacific Coast Highway. It’s on a 4.85-acre lot with a tennis court and infinity pool and sweeping ocean view. Zillow.com estimates the monthly mortgage payment at $289,510.

Forbes.com said in a Dec. 6 posting that Howard Marks, founder of Oaktree Capital Management, sold the estate to an anonymous Russian buyer. It was the most expensive sale in the U.S. at the time and a record for Malibu, the site noted.

In some Southern California communities, including Santa Monica, all the sales last year were $1 million or more deals, DataQuick said.

“The luxury home market is unique, always has been,” John Walsh, DataQuick president, said in a statement. “It responds to its own set of economic factors. Things like job growth, mortgage interest rates and migration patterns do not play the same role as IPOs (and) stock-market performance.”

ABOUT THE AUTHOR

07/26/2013

This is encouraging news...

» Prices Continue to Roll at Double-Digit Rates

04/22/2013

First-Quarter Economic Growth Stronger Than Expected
Consumer Spending Surprisingly Resilient, but Sustainability Uncertain

Housing Continues to Build Momentum
Pete Bakel
202-752-2034

WASHINGTON, DC – Recent data indicate that economic growth in the first quarter has accelerated to an above-trend—but likely unsustainable—pace of 3.2 percent, according to Fannie Mae’s (FNMA/OTC) Economic & Strategic Research Group. A significant buildup in business inventories provided a one-time boost to first quarter growth and is expected to resume a more balanced level in the second quarter. Meanwhile, several other key indicators late in the first quarter, including a downbeat March jobs report, were soft, presaging a more moderate pace for the rest of the year. The Group expects growth to come in at approximately 2.3 percent for 2013—still modest by recovery standards, but a pickup from the 2012 and 2011 pace of 1.7 percent and 2.0 percent, respectively.

“The April forecast reflects the growing realization that 2013 is off to a good start from a GDP perspective, but we expect the stronger-than-expected first quarter pace to slow somewhat in the second quarter,” said Fannie Mae Chief Economist Doug Duncan. “On the downside, tax hikes, sequestration, and the euro-zone crisis still pose significant risks to our forecast, and the fiscal tightening will likely affect consumer spending and other economic activity in coming months. However, the housing recovery continues to broaden and may be more robust than we anticipate, helping to offset fiscal headwinds.”

The continued housing recovery and rising home prices are expected to provide a cushion to growth this year and present the most likely source of upside to our forecast. Residential investment has made a positive or neutral contribution to economic growth for seven consecutive quarters, ending in 2012, with similar activity expected in 2013. Housing’s contribution to growth also continues to climb home as sales reached multi-year highs in the early stages of 2013.

For an audio synopsis of the April 2013 Economic Outlook, listen to the podcast on the Economic & Strategic Research site at www.fanniemae.com. Visit the site to read the full April 2013 Economic Outlook, including the Economic Developments Commentary, Economic Forecast, Housing Forecast, and Multifamily Market Commentary.

Opinions, analyses, estimates, forecasts, and other views of Fannie Mae's Economic & Strategic Research (ESR) Group included in these materials should not be construed as indicating Fannie Mae's business prospects or expected results, are based on a number of assumptions, and are subject to change without notice. How this information affects Fannie Mae will depend on many factors. Although the ESR Group bases its opinions, analyses, estimates, forecasts, and other views on information it considers reliable, it does not guarantee that the information provided in these materials is accurate, current, or suitable for any particular purpose. Changes in the assumptions or the information underlying these views could produce materially different results. The analyses, opinions, estimates, forecasts, and other views published by the ESR Group represent the views of that group as of the date indicated and do not necessarily represent the views of Fannie Mae or its management.

Fannie Mae enables people to buy, refinance, or rent a home.

Visit us at: www.fanniemae.com/progress.

04/04/2013

I am thrilled to report that Sotheby’s
International Realty experienced a strong
Q1 with substantial increases in contracts
signed over Q1 of the prior year. While 2012
started out similar to 2011, with the number
of sides signed to new contracts in January
effectively the same as January 2011, new
contracts in February and March exceeded
the same time period in 2011 by 17% and
15%, respectively. Ultimately the total number
of sides signed to new contracts in Q1 2012
exceeded Q1 2011 by 11%. Eight of our
markets experienced this uptick, with our
Santa Barbara, San Francisco, Wine Country,
Carmel, Manhattan and Cape Cod markets
seeing double-digit increases.
After experiencing reductions in the average
sales price (ASP) of sides signed to new
contracts in January and February 2012
over the same period the year before, our
company saw its overall ASP rebound in
March and even exceed March of the prior
year. The 11% increase in the number of sides,
partially offset by the overall 6% reduction in
ASP during the quarter, led to a net increase
of 5% in volume signed to new contracts in
Q1 2012 vs. Q1 2011.
On a national basis, the National Association
of Realtors (NAR) reported that the number
of closed sides increased 7% in Q1 2012
vs. Q1 2011, while the ASP of closed sides
remained flat. NAR also reported that as of
March 31, 2012, the national supply of housing
inventory approximated 6.3 months, which is
down from 2011’s July peak of 9.3 months. As
of April, NAR’s full-year forecast for 2012 was
for a 10% increase in sides and a 2% increase
in the median home sale price.
Realogy also reported positive news as a result
of a recent informal survey the company
conducted with NRT agents, 79% of whom
responded that they are seeing an increase
in multiple offers in their local markets.
According to the survey, the top three factors
influencing homebuyers to purchase right now
are the opportunity to get a good deal (74%),
the expectation that interest rates are about
to rise (39%) and a growing confidence in the
economy (41%). Clearly, serious buyers are
returning and business is being conducted in
multiple key markets. We hope these positive
trends continue throughout 2012!

03/28/2013

Well I have noticed a large surge in the values in the areas I specialize in Brentwood, Santa Monica, Pacific Palisades, and the greater West Los Angeles areas. Interest rates are historically low. The over all depressed "mind set" that came about for years after the economy collapsed, has had time to heal and the result is, buyers and sellers are more confident. I am confident as well so if you are in considering buying, selling, leasing, investing or just want to discuss real estate feel free to call me at 310-804-3117.