Michael Greenwald's Real Estate News:
First Half 2000

Welcome to the New Year! The market remains slow, though we anticipate increased activity by the middle of the first quarter when our inventory typically returns to normal. For now, our inventory remains unseasonably low.

With interest rates rising gradually, however, we believe that buyers will see that it's a good time to buy, and sellers will likewise see that it's an excellent time to put their houses on the market. Even if interest rates go up as much as a 1/2 point--which they are predicted to do--they are still historically incredibly low. This is especially true if you go with a more creative loan program, and not with a 30-year fixed rate mortgage.

As we move closer to spring, we know that we are approaching the prime time of any selling season in Southern California. Buyers are looking to be ensconced in their homes by summer, so that they know where they are sending their kids to school in September. And sellers know that spring means that they might get a little more money for their homes than any other time of year.

For those of you looking to buy homes at the beginning of this year, I invite you to fill out my Buyers Home Wish List. I'll be glad to help you search for homes--simply email me your wish list. Buyers can also access my Search For Homes link to search directly in the Multiple Listing Service.

For those looking to sell homes at the beginning of this year, you can go to my Home Seller form and forward me information about your home. I will get back to you the same day. It's always good for potential sellers to go to my Homes For Sale page to see what kinds of homes I am listing or have recently sold.

I have also added Virtual Tours to my listings through Bamboo.com. My featured listing and other portfolio listings will be using this new technology, putting you "inside the house!"

Westside Real Estate Market Overview:
First Half 2000

Brentwood: For the first time in recent memory, Brentwood has outpaced Pacific Palisades, Malibu and Beverly Hills as the hottest Westside market in terms of number of sales. What seems to be fueling the Brentwood market is excellent activity in the lower-priced homes ranging from $400,000 to $700,000, and the very high-end Brentwood Park, Mandeville Canyon, and Kenter Canyon activity. We have also had some record sales in the $4-5 million mark outside of Brentwood Park for the first time in many years. Don't hesitate to contact me at any time for more information on any of these properties. I also invite you to please visit my Brentwood page.

Westwood: The Little Holmby area of Westwood, which borders Wilshire Boulevard, Sunset Boulevard, UCLA and Beverly Glen, is arguably one the most popular areas now on the Westside due to its proximity to both the Westside and Beverly Hills. Always a popular estate area, it is now becoming increasingly popular and even a bit more expensive as major remodels and, in some parts, even brand new construction begins, with speculative contractors entering the market to flip the houses for profit.

Work has been partially completed to turn Westwood Village into a walking promenade and return it to its glory days of the 1960's and 70's. At present, most of the walking areas and parking facilities have been completed, yet controversy abounds regarding what to do with the theaters and retail areas of Westwood. To date, no complete resolve has been made. Overall, this is a project that will certainly affect the Westwood homeowner in a positive way. In keeping with the updates at Westwood Village, you can link through my site to Westwood movies, restaurants, retailers, and the UCLA site.

Care to find out more of the things that make Westwood tick? The campus of UCLA and the Armand Hammer Museum at the center of Westwood Village are both area attractions.

Bel Air: With properties almost 100% residential, Bel Air is a unique community on the Westside of L.A. It is an incredibly valuable area with prices broadly ranging from the low 500's up to 10 million. We are currently seeing a trend for the more affordable homes here to rise rapidly in market value. Don't forget to enter my First Quarter 2000 contest to win a two-day stay at the Hotel Bel Air.

From lodging at Hotel Bel Air, to the exclusive Bel Air Country Club, my Bel Air page will help you get a feel for this Westside area.

Pacific Palisades: It's winter in one of the strongest and most beautiful communities on the Westside due to the village-feel of its downtown restaurants and shopping.

Pacific Palisades is probably the best value on the Westside right now. Prices have remained stable, yet have begun to depreciate ever so slightly. If you've had your eye on homes in Pacific Palisades, this makes it a good time to buy. Areas that are seeing activity in particular are the "Alphabet Streets" and the "Pacific Palisades Highlands."

A great resource on my site is my Pacific Palisades page, which includes community, school and business links throughout the Palisades. In particular, you can access information forwarded to me by Pacific Palisades schools, including Marquez Charter Elementary School, Palisades Charter High, and Paul Revere Charter Middle School.

Santa Monica: You can link to my updated Santa Monica page--one of my most extensive community pages--which features a myriad of resources, including schools, arts and entertainment, parks, city groups, local events and activities, and businesses online.

Single family homes north of Montana Avenue--especially in the Gilette areas--are appreciating close to double digits for the first time in the last six years. If you haven't driven down Montana Avenue recently, you've missed some of the best restaurants and retail shopping boutiques in all of the Westside. Also, check out the Third Street Promenade, which has its own Web site.

For getting around, one of the best bus systems in Southern California is considered to be the Santa Monica transportation system. For a system map, routes, schedules and other information, see Santa Monica's Big Blue Bus Home Page.

For local schools, you may also link to Santa Monica High School's own Web site.

Helpful Sites for Those on the Move:
First Half 2000

It's a New Year (and a New Millennium!), and while the way we go about arranging a move continues to change, the challenges of moving don't. "Helpful Sites for Those on the Move" continues to help keep you up-to-date with convenient ways to get you where you're going, from moving your belongings from point A to point B to finding a new job to settling into a new community.

Virtual Relocation
Whether you're moving across the country or just across town, let Virtual Relocation be your online moving and relocation guide. There is no single more comprehensive site anywhere for planning your move and researching prospective destinations. Also featured are specific city guides, providing links to major employers, neighborhood information, schools, financial resources, and everything else you could possibly need when considering a move.

Builder Online
If your interested in building a home, then check out this site for all kinds of helpful tips and tidbits! You will find everything from a virtual tour gallery of homes to new product overviews.

Monster.com
Monster.com is indeed a monster of a career search site, whose main feature is its searchable database of jobs around the country and around the world. Review company profiles, submit your resume online, or search for jobs by location, category or keyword.