Michael Greenwald's Real Estate News: June/July

As the weather gets warmer, it is still a strong time for both buyers and sellers as they manuever their families into homes for the September school season. Among those who are listing, many are also buyers looking to 'buy up' in this appreciating home market. How long the appreciation will continue is still anybody's guess, but local economists (including the UCLA Business Forecast) say we should have at least two more strong years.

The listings have finally increased slightly over the last couple of weeks. We are still finding ourselves unseasonably reduced in the number of listings--yet the demand is still high. It appears that the majority of sellers seem to be holding out in this market, waiting for a sign that they've hit the top. Buyers, on the other hand, are hoping we're still in the middle of the appreciation curve and are frantically trying to get into a property before they're priced out.

If you read the press, it's a very hot market. In reality, it's an uncomfortable market where buyers are forced to make incredibly quick decisions after one short visit to a house. And many sellers think there is something wrong with their house, their price, or their agent if their property doesn't sell within two weeks.

Schools are presently the number one reason why people are moving into the area. In response to this demand, continue to look forward to upcoming school resources on my site, which feature the best and most up-to-date information on Westside elementary, junior high, and high schools. These pages include such information as school programs, ways for parents to be involved in their child's educational experience, administrative contacts, school calendars, and welcome information for those new to the school. All in all, this resource will make transitions for families with school-age children that much easier.

For the most up-to-date information on Westside schools please check my schools section http://www.michaelgreenwald.com/schools. We will continue to update this section with everything from calendar of events to messages from the principals of the schools.

The local press has finally caught up with fact that it is a bona fide sellers' market. We are seeing multiple offers on properties that are priced at market value. Properties that are overpriced will sit on the market longer and most likely not receive the appropriate price that they would have if they were priced at market value. If you haven't already checked out my newest pages http://www.michaelgreenwald.com/sanfernando.html, I have added to my site San Fernando Valley's highest-end areas in Encino and Sherman Oaks. These pages are an excellent source for information about the area, including schools, businesses, and, of course, current listings.

Westside Real Estate Market Overview: June/July 98

Brentwood remains the highest appreciating area on the Westside and continues to grow in prestige and in the number of sales in all price ranges, from $500,000 for a modest home to $5 million for the high-end homes of Brentwood Park.

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 which will certainly affect the Westwood home owner 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/.

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 1998 second quarter contest to win a two-day stay at the Hotel Bel Air http://www.michaelgreenwald.com/contest/.

Pacific Palisades: As a beach community Pacific Palisades is now in its prime as we enter the hottest months of the year. Prices in the Palisades, along with Brentwood, lead the Westside in terms of value. This was a neighborhood less affected by our economic slump than other Westside areas; consequently, it hasn't had to climb its way back up in value as others have.

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 on Pacific Palisades' Marquez Elementary School http://www.michaelgreenwald.com/schools/marquez/.

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 http://www.thirdst.com.

Helpful Sites for Those on the Move

Summer moves are upon us! This month we continue looking at resources which will help you further prepare for upcoming moves, as well as touch up properties you've just moved into.

Garden Centre - Gardening Internet Resource
This site's main page continues far down the screen, including such categories as Choosing Plants for the Landscape, Container Gardening, and Planning Your Garden Pond, to name a few. Their Plant Check List will help you select correct plants, trees and shrubs for your garden. The site's section This Time of Year is updated as the seasons change, so check back throughout the year!
World Wide Web: http://www.dlcwest.com/~createdforyou/landscap.html

Your New House On-Line
A well-done graphic entry page leads to a main page filled with resources such as video clips on home improvement, school reports, and an Online Store featuring thousands of software titles on home planning and design. You may also subscribe to Your New House broadcasts via PointCast. There are also scheduled HouseChats in which you may participate.
World Wide Web: http://YourNewHouse.com/

International Real Estate Digest
"Gateway to over 20,000 real estate-related Web sites in 103 countries." Check out the For Consumers section, where you'll find a wealth of articles for both those buying and those selling a home. Also try the Explore IRED link, which presents you with overviews of the IRED's sections.
World Wide Web: http://www.ired.com/

Don Vandervort's HomeTips
This framed site includes home improvement advice on carpet care, child-proofing your house, decks, doors, windows, and more. This is a simple, straight-forward site that answers visitors' questions and provides some very helpful hints on home maintenance.
World Wide Web: http://www.hometips.com/

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