The Jones Report- April Edition

Greetings!

I am seeing some excellent signs in the real estate market lately. The stars are aligning with record breaking mortgage rates, the highest level of home affordability in years, increased demand, and a decrease of homes on the market- making this one of the best times to buy or sell a home in recent years!

The sales statistics for this year are far surpassing the previous year. There have been 59 sales of $5 million plus this year compared to only 42 at the same time last year, 14 sales of $10 million plus versus 11 last year, and 3 sales of $20 million plus compared to just 1 last year.

According to Realtor.com the number of homes on the market has fallen 22% in the last month and asking prices have increased 6.8% as demand from buyers has increased. Inventory of homes on the market is estimated to be at a 6.1 month supply, which is the lowest level since 2006 when the housing market was at its peak. We are all experiencing the shortage of inventory in our market, making it an excellent time to sell your home. Good homes that are priced well are flying off the market to serious, well-qualified buyers.

Investors are also stepping up to the plate with the National Association of Realtors reporting that investors purchased 64.5% more homes in 2011 compared to the previous year. Existing home sales are on the rise at the fastest rate in 20 months with low mortgage rates and increased affordability for buyers and investors.

Now really is one of the best times to buy or sell a home in the past several years. Pricing remains sensitive and many buyers are still looking for a 'deal'; however, with the decrease in inventory, we are seeing many well priced properties go into multiple-over asking offers with very few days on the market proving that there are numerous motivated buyers out there.



Click here to read the full report

Cheviot Hills Charmer- Beautiful Classic Home!

Open Sunday 4/15 2pm- 5pm

3045 Motor Ave. Cheviot Hill ~ $1,249,000

Visitors will be struck with the wonderful curb appeal that continues throughout this beautiful classic home! Each room is impeccably kept with lots of detail and character: from the gleaming hardwood floors, sunlight streaming through the many windows, French Doors to the outdoor deck and warm brick fireplace with its' wooden mantle. The totally updated kitchen just radiates warmth, featuring Caesarstone counters, stone floors, farmhouse sink, built-in breakfast area and numerous cabinets. 

Upstairs there are 2 bedrooms each with beautiful wood floors and lots of light.

The handsome paneled family room opens to the large back deck which overlooks the lushly landscaped yard with plenty of room for entertaining or play! This fabulous home also boasts newer heating and air-conditioning and is in the Overland Avenue School District.

A Selection of the Best Holiday Brunch Options on the Westside!

I hope that everyone has a wonderful Passover and Easter weekend.  It looks like it is gearing up to be a gorgeous weekend in Los Angeles! There are so many wonderful restaurants and hotels that will be serving up an endless array of holiday brunch specialties this Sunday,  from bottomless mimosas, to elegant lobster omelets, to prime rib carving stations, and decadent desserts that are just to die for!  Below are just a selection of wonderful events to choose from!

Celebration at the Polo Lounge, Beverly Hills Hotel
Sunday, April 8 from 10am- 3pm

The world-famous Polo Lounge will be serving an elaborate family brunch. Dine in the elegant dining room or outside on the terrace. For Easter Brunch patrons, we will be having an Easter Egg hunt on the Polo Lounge patio from. Call for reservations.

http://www.beverlyhillshotel.com/easter    310.887.2777

Mad Hatter Tea Party at Montage Beverly Hills

Sunday, April 8

Don’t be late for a very fun date! Join us for a special Mad Hatter Tea Party. Featuring mystery sweets and the Queen’s choice of teas for $55.25 per person. 

 http://www.montagebeverlyhills.com/events/mad-hatter-tea-party   310.860.7940

Champagne Brunch and Easter Egg Hunt at The Ritz-Carlton Marina Del Rey

Sunday, April 8 from 11am to 3pm

Join us in Jer-Ne Restaurant for a bountiful brunch featuring traditional favorites such as snow crab legs and claws, roast beef tenderloin, made-to-order omelets, an array of desserts and free-flowing house champagne. To follow brunch, join us at the hotel Rose Gardens for an Easter egg hunt for all ages. Reservations required.

The Ritz-Carlton, Marina del Rey    310.574.4333

Four Seasons Brunch in Beverly Hills

Sunday, April 8 from 10am-2pm

Join the Four Seasons Beverly Hills for a delicious spring time cuisine of omelets made to order, lobster eggs Benedict, roasted prime rib with Yorkshire pudding, as well as house made sushi, an array of farmer’s market salads and Mexican style ceviche! They will also feature a Candy Factory station w/donuts machine popular with guests of all ages, and cotton candy as well as flowing warm chocolate to dip sweet delicacies!

$95 adults, $47 Children ages 5-12, and Free for children 4 and underhttp://losangeles.enewsletters.fourseasons.com/2012/03/14/join-us-on-easter-for-an-egg-cellent-brunch/ 310.273.2222

Whist Restaurant at Viceroy Hotel in Santa Monica
Sunday, April 8 from 10am- 3pm

Top chefs serve up a decadent brunch with mouth watering buffet style options such as, farmer’s market salads, ham and prime rib carving station, pancake and French toast station, and plenty of family friendly options as well!

$55/adult, $25/child

http://www.viceroyhotelsandresorts.com/santamonica/dining-and-nightlife/hotel-happenings.php

A Gorgeous Afternoon in Pacific Palisades!

I spent a lovely afternoon in the Palisades yesterday at my listing at 14209 Evans Rd. 
The beautiful grounds were perfect for relaxing and enjoying the sunshine,
good food, and great company!

 www.14209evansroad.com

The delicious pasta bar lunch was provided by Distinctive Catering!  Everything
was amazing!

 

The Jones Report- March Edition

 Greetings!

I hope everyone is having a wonderful and productive month. I recently returned from the annual Coldwell Banker conference- 'Gen Blue', which was hosted in New Orleans this year. It was an amazing experience and so exciting to learn about all of the new initiatives Coldwell Banker is creating in marketing and technology to remain on the cutting edge of our changing market place. It was also incredibly eye opening having the opportunity to meet and network with agents from all across the nation and the world. It was so valuable to hear what is happening in other luxury markets across the country.

While every area is specialized, there was a great deal of optimism from agents across all markets. The latest pending home index released by the National Association of Realtors showed pending home sales are on the upswing and at the highest level since April of 2010. Mortgage rates continue to decline and remain near record lows.

 

Fifteen-year fixed-rate mortgages are down, from the week prior, to an average of 3.13%. Thirty-year fixed rate mortgages are down to an average of 3.88% compared to 3.9% the week earlier. With mortgage rates continuing to stay low, this is still an excellent time to buy a home. And with so many eager buyers and a decrease in inventory, it may also be an excellent time to sell!

Click here to read the full report

NEW LISTING: Warm And Meticulously Cared For Mid-Century Home! OPEN SUNDAY 3/18

1700 San Ysidro Dr., Beverly Hills Post Office

Just on the market, this gorgeous mid-century home is a MUST see!  The first open house will be this Sunday 3/18 from 2pm-5pm.  www.1700sanysidro.com

Enter this exquisite mid-century home and you will immediately feel at home.  Visitors will be instantly captivated, with views to the private grassy yard from the front entrance through walls of glass.  Streaming sunshine lights up the open living room and family room with sliders opening directly to the outdoor entertaining areas and charming flat grassy yard.

The stone fireplace warms the living area and sunlight streams through open skylights that shine down on the Caesarstone countertops and glass tiled backsplash of your gourmet kitchen. Enjoy cooking and entertaining with a beautiful Viking range, warming oven, sub-zero, and vegetable sink, while your wine cools in the full-sized wine cooler.

The spacious master features beamed ceilings, 2 enormous walk-in closets with built-ins and a luxurious master bath flooded with natural light.  Just a few of the recent upgrades include: new plumbing and electrical, tankless water heater, sound system, hardwood floors throughout, new roof, and new windows.  This home has been cherished and meticulously cared for and its warmth shines through!

Neighborhood Profile: Beverlywood

Recently this quiet, well maintained neighborhood has become one of the most desirable neighborhoods to live in the Los Angeles area. Only a stone’s throw from Beverly Hills, Century City, Santa Monica, and Westwood; this welcoming neighborhood has an ideal location. Although Beverlywood is just minutes away from all the action that Los Angeles has to offer, it also includes the luxuries of a secluded oasis to escape the hustle and bustle of city life. This is a perfect neighborhood to raise a family, yet stay connected.

 

Check out the unique aspects of this neighborhood through our new listing, 9500 Sawyer Street, Beverlywood. This beautiful home is centered on one of the most desirable streets in this well-loved neighborhood and is a perfect example of the ideal living situations that Beverlywood has to offer.