Michael Greenwald's Real Estate News: January/February

Welcome to 1999! According to UCLA economists and the Department of Real Estate in California, we are looking at another year of continuing property appreciation and increasing sales, though not as great as last year in either category. Looking back at '98, it was a dramatic year. The first six months of the year were topsy-turvy, when buyers were offering full price or greater on properties, and sellers couldn't list properties fast enough. Then came the blip in the stock market that caused sellers and buyers to nearly stop altogether. As we enter '99--even though the stock market has come back full force--we have not yet seen the real estate market catch up.

January and February tend to be strong months for sellers to list properties, and for a handful of very-motivated buyers to purchase. Beginning in March through the end of June is prime time for transactions, when both buyers and sellers are equally looking to make a massive amount of moves. At the writing of this newsletter (early January), we are still very low on inventory, but expect it to pick up by the end of the month.

For those of you interested in schools--which are always important at this time of the year as kids head back--visit my school pages at http://www.michaelgreenwald.com/schools. You'll see that for the local schools we now have current 1998/99 calendars, and are still waiting for calendars from the remaining schools. We will continue to update school information as they forward it to us.

And for those of you looking to buy homes this year, I invite you to fill out my Buyers Home Wish List at http://www.michaelgreenwald.com/wish.html. 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 at http://www.michaelgreenwald.com/homefinder to search directly in the Multiple Listing Service.

For those looking to sell homes this year, you can go to my Home Seller form at http://www.michaelgreenwald.com/homeseller.html 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 at http://www.michaelgreenwald.com/portfolio/index.html or Featured Listing at http://www.michaelgreenwald.com/feature/ to see what kinds of homes I am listing or have recently sold.

Westside Real Estate Market Overview: January/February 1999

The beginning of the year is a busy time for local tourism as people come to escape the snow and rather dismal weather throughout the rest of the country. Many choose the sunny Westside of L.A.--including Brentwood--for their vacations. And for good reason...

Westwood: 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 at http://www.westwoodonline.com/.

Care to find out more of the things that make Westwood tick? The campus of UCLA http://www.ucla.edu/ 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 in 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 1999 first quarter contest to win a two-day stay at the Hotel Bel Air http://www.michaelgreenwald.com/contest/

From lodging at Hotel Bel Air, to the exclusive Bel Air Country Club http://www.golfcourse.com, my Bel Air page http://www.michaelgreenwald.com/belair/ will help you get a feel for this Westside area.

Pacific Palisades: 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 the Pacific Palisades page http://www.michaelgreenwald.com/palisades/, 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 http://www.michaelgreenwald.com/schools/marquez/, Palisades Charter High School http://www.michaelgreenwald.com/schools/palisades/, and Paul Revere Charter Middle School http://www.michaelgreenwald.com/schools/revere/.

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 http://www.michaelgreenwald.com/santamonica/.

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 http://www.montanaave.com/ 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 at www.thirdst.com.

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 at www.ci.santa-monica.ca.us/bus/.

For local schools, you may link to Santa Monica High School's own Web site at http://www.samohi.org/.

Helpful Sites for Those on the Move

As we move into 1999, we've highlighted the new design for one of the best real estate sites out there, Realtor.com, as well as included a few home improvement sites to help with those New Year's resolutions. And when you're done with your projects around the house, visit the Westside's J. Paul Getty Museum.

Realtor.com
Realtor.com, which has always been one of the top real estate Web sites around, recently upgraded the layout of their site. Now, it is arranged into six easy steps to follow: Getting Started, Buying, Selling, Offer/Closing, Moving, and Owning. Within the site's resources, you can still easily find 1.3 million property listings around the country. The site's Personal Planner allows you to "save search results, search criteria, and articles from all areas of the site." The Personal Planner will also notify you via email of new listings.
World Wide Web: http://www.realtor.com

HomeArts: Handy Home Advisor
From articles on hard-to-find period piece hardware, to compact stereo systems, to ten causes of construction-cost overruns, to ideas for designing traditional and contemporary country kitchens, this site features articles on outfitting and remodeling your home well.
World Wide Web: http://homearts.com/helpers/homecare/00homcc1.htm

SierraHome Home Design
From useful tool dictionaries, to how-to guides, to home design calculators, the SierraHome Home Design Web site will help you with your home improvement project. With weekly features and a personalized event reminder service, this is a very professional site.
World Wide Web: http://www.sierra.com/sierrahome/homedesign/

Do-It-Yourself Home Improvement Tips
From the makers of the Home Improvement For Dummies¨ book, these ten tips will help you with such tasks as unclogging that drain, getting rid of old wallpaper, and stopping squeaky floors.
World Wide Web: http://www.dummies.com/tips/home_improvement/

Past Newsletters Second Half 2001 First Half 2001 Second Half 2000 First Half 2000 November/December, 1999 July/August, 1999 January/February, 1999 October/November, 1998 August/September, 1998 June/July, 1998 April/May, 1998 January/February, 1998 November/December, 1997 September/October, 1997 July/August, 1997