940 Venezia in Venice Ca. 902991 for Sale $2,495,000

Wait til you see the pool in the back

Venice, California, is a neighborhood located within the city of Los Angeles, California. It is known for its eclectic mix of art, culture, and history. The area has a rich and varied history that dates back to the early 20th century, when it was founded by tobacco millionaire Abbot Kinney.

The story of Venice, California, begins in the early 1900s, when tobacco millionaire Abbot Kinney purchased land in the area with the intention of creating a seaside resort. Kinney believed that the warm climate and beautiful beachfront location would make it a popular destination for tourists. He set out to build a network of canals, similar to those found in the Italian city of Venice, and to develop a variety of amenities and attractions, including a beach, a boardwalk, and a number of hotels and restaurants.

Kinney's vision for Venice quickly became a reality, and the area became a popular destination for tourists and locals alike. The Venice Beach Boardwalk, which opened in the 1920s, was a major attraction, offering visitors a variety of entertainment options, including carnival rides, street performers, and numerous shops and restaurants. In addition, the beach itself was a popular spot for swimming, surfing, and sunbathing.

As the popularity of Venice grew, the area became a hub for the arts, attracting a diverse group of artists and writers. Many of these artists were drawn to the bohemian atmosphere of the area, and they helped to create a unique and vibrant culture that was unlike anything else in Los Angeles. In the 1950s and 1960s, Venice became a center of the counterculture movement, attracting a large number of hippies and other young people who were drawn to its laid-back, alternative lifestyle.

In the decades that followed, Venice underwent a number of changes, as the area evolved and grew. In the 1980s and 1990s, the area became known for its street art and graffiti, and it attracted a large number of artists and musicians who were drawn to the creative atmosphere of the neighborhood. Today, Venice is still a vibrant and creative community, known for its eclectic mix of art, culture, and history.

Despite its many changes over the years, Venice has remained a popular destination for tourists and locals alike. The area is home to a number of interesting and unique attractions, including the famous Venice Beach Boardwalk, the Venice Canals, and the Venice Beach Skate Park. In addition, the area is home to a variety of art galleries, restaurants, and shops, making it a great place to explore and discover something new.

In conclusion, the history of Venice, California, is a rich and varied one, filled with interesting characters, unique cultural developments, and a sense of creativity and innovation that has helped to shape the neighborhood into the vibrant and diverse community it is today. Whether you're interested in its history, its culture, or its beachfront location, Venice is a place that has something for everyone. The booming Tech industry and its well compensated employees are now one of many buyer profiles that Andrew Robarge with COMPASS finds to be typical buyers of great homes like this on listed by Sally Forster jones his teammate at compass. Click here to see dozens of hi res images: https://www.compass.com/listing/1177772480207371849/view?agent_id=60f2188170540700019af4af

Andrew Robarge

COMPASS BEVERLY HILLS

Calbre#01761507

Read my Redfin partner reviews here:

https://www.redfin.com/real-estate-agents/andrew-robarge/reviews

Why netflix stock deserves a second look

Netflix stock is down 50 percent this month and I see it as an incredible buying opportunity

The popular story is that subscriber growth has slowed, and that’s true to an extent.

But a more careful look at the numbers reveals something interesting. Netflix shed subscribers because they shut down their Russian operation because of the Ukrainian invasion. Quoting the Washington Post “The streaming service lost 700,000 subscribers when it pulled out of Russia after the Ukraine invasion.”

Let’s look past the Russia numbers. Netflix lost a total of only 200,000 subscribers, which means that they actually gained 500,000 subscribers worldwide, but lost 700,000 in Russia for a net total los of 200,000.

First of all, we who support democracy should support this company, by subscribing and considering buying the stock. . In my opinion companies who continue to do business with and in Russia should stop.

Its a normal instinct to want to buy stocks as they are going up, but remember Warren Buffets advice “Be greedy when others are fearful and fearful when others are greedy.”

The smartest people I know work at Netflix, I believe they have lots of innovation ahead of them.

The stock is recession resistant because the company can add new content, adjust prices, offer discounts and is an inexpensive source of hours of entertainment.

This is not intended as investment advice, all investments involve risk, invest carefully and check with your investment professional.

How to win a bidding war

In our current market we have record low inventory of homes for sale in west Los Angeles and Santa Monica, here top producing real estate agent Andrew Robarge with COMPASS who has been on both sides gives you the key to understanding how to bid to win in 2022 to successfully nab the home of your dreams.

There are various tips that agents provide that may do more harm than good, such as waiving inspection contingencies, and writing love letters, which courts have found to be discriminatory.

I have never heard of a seller taking an offer that was significantly less money.

Does that make sense? Do you hear me? Never.

The truth is the buyers need to get out of their comfort zone and bid to win not to place a bid that feels comfortable using 6 month old comps.

In Santa Monica, for example, properties are expected to appreciate about 20% this year. So if a buyer is using a comparably sold property from just 6 months ago, that property has already appreciated by at least 10 percent. This market is a freight train and frankly I don’t see where any inventory is going to come from.

As soon as the FED raises rates the stock market collapses and they have to lower the rates back down to keep the economy moving, so one argument is that the GFED will raise the rates enough and the market will slow down, but its like threading a needle and so far the Rates have been trending ever lower over the long term.

Skyrocketing US home prices are finally beginning to slow down

Skyrocketing US home prices are finally beginning to slow down

September 2021 marked the first month since May 2020 in which annual home price growth decelerated, with home prices increasing 19.5% year over year, down from 19.8% in August

Bet_Noire and Getty Images

BY LILLIAN DICKERSON

Today 7:10 A.M.

Home price growth finally slowed slightly in September 2021 after several months of acceleration, with home prices increasing 19.5 percent year over year, down from a 19.8 percent annual gain made in August, according to the S&P CoreLogic Case-Shiller National Home Price NSA Index. This marked the first month since May 2020 in which annual home price growth decelerated.

“After 14 consecutive months of acceleration, the S&P CoreLogic Case-Shiller index finally took a turn,” CoreLogic Deputy Chief Economist Selma Hepp said in a statement. “While housing market activity is experiencing a typical seasonal slowdown, homebuyer demand remains strong and continues to push total home purchases above pre-pandemic levels, resulting in another month of close to 20 percent annual gains in home prices.”

The 10-City Composite annual increase was 17.8 percent, down from 18.6 percent in August. Meanwhile, the 20-City Composite showed a 19.1 percent annual increase, down from 19.6 percent the previous month.

Out of the 20 cities, Phoenix, Tampa and Miami showed the greatest annual home price gains. In Phoenix, home prices rose 33.1 percent year over year, in Tampa, prices were up 27.7 percent year over year, and in Miami, home prices increased 25.2 percent year over year. Six out of 20 cities saw higher annual price increases during the year ending September 2021 compared to the year ending August 2021.

Meanwhile, month over month, the national index increased 1.0 percent and the 10-City and 20-City Composites increased 0.7 percent and 0.8 percent, respectively, before seasonal adjustment. After seasonal adjustment, the national index saw a 1.2 percent gain while the 10-City Composite saw a gain of 0.8 percent and the 20-City Composite saw a gain of 1.0 percent.

Realtor.com Manager of Economic Research George Ratiu said in a statement that the slowed home price growth was likely a result of increased inventory and rising mortgage rates.

“Home prices advanced at 19.5 percent in September, pointing to a moderating pace, as an increase in new listings offered buyers more options,” Ratiu said. “The other factor contributing to the slowing price growth was the jump in mortgage rates, with Freddie Mac’s 30-year fixed loan moving from 2.87 percent at the start of September to 3.01 percent by the end of the month, curbing buyers’ ability to bid up prices.”

Although home price growth remains relatively strong, Hepp added that there are signs that the U.S. is getting closer to a more balanced market.

“Nevertheless, while activity continues to outperform pre-pandemic levels, there are encouraging signs of a slow albeit welcomed return to more sustainable balance between buyers and sellers. There is still low availability of for-sale homes, which continues to drive price growth, but the competition has faded and assuaged some of the bidding war intensity. Overall, home price growth is likely to continue slowing over the next year.”

Home prices have historic surge-L.A. Times

By Jack Flemming

Southern California home prices muscled to an all-time high in April as the hot real estate market got even hotter.

The six-county region’s median home price increased 20.2% year over year to a record $655,000, according to data released Tuesday by real estate firm DQNews. That’s $25,000 more than the previous median price record set in March.

The 20.2% leap is the first year-over-year increase of more than 20% since December 2013, said Becky Beavers of DQNews.

April home sales jumped 86.2% year over year with a total of 25,857 transactions, compared with 13,889 in April 2020. It’s both a reflection of the pandemic-fueled housing boom and of a market that was chilled by the coronavirus last spring as sales died in escrow and would-be sellers decided not to move.

It’s the ninth straight month of double-digit price increases, and experts credit a mix of factors including ultra-low mortgage rates, increasing demand for space and an emerging home-buying demographic: millennials.

Another contributor is the housing shortage.

There’s a glut of potential buyers but a shortage of sellers, and it’s leading to bidding wars that drive offers far above the original price tag. In March, more than half of homes in Los Angeles fetched more than the seller was asking, according to the Multiple Listing Service.

“It’s ironic,” said Compass agent Bret Parsons. “The person who determines the price of a home in this market is the buyer, not the seller. If you price a home accordingly, it will receive multiple offers automatically.”

Mortgage rates plunge below 3%

Last Thursday was the best day for mortgage rates in more than a month, and while they bounced back up on Thursday afternoon, they've been falling modestly since then.  Yesterday got us close to last Thursday's lows.  Today helped us match them.  That means today's rates are the lowest in exactly 7 weeks.  You'd have to go back to March 2nd or 3rd (depends on the lender) to see anything lower.  

What have the swings been like over this time?  Not insignificant, actually!  The average conventional 30yr fixed rate rose by 0.25% in March and has fallen by as much in April.  Please note, however, that the things can vary quite a bit depending on the specifics of your scenario and the rate itself.  Due to the structure of the bond market that underlies mortgage rates, lender compensation does NOT change in a linear way as rates rise and fall.  

For instance, the difference in upfront cost (or lender compensation) between rates of 3.00% and 3.125% is roughly half a point ($500 for every $100k of loan balance).  The cost gap jumps up to 0.8 points when moving between 2.875 and 2.75%.  In other words, the lower your rate was to begin with, the less likely it is that you're seeing all of that 0.25% drop since March 31st.

In terms of strategy, we've definitely exited the relentlessly negative trend that dominated the first 3 months of the year.  The current, less volatile environment could persist for days, weeks, or even months.  The longer it lasts, the wider the range would be.  On the other hand, it's just as valid to view the past 4 weeks as a much-needed intermission in a drama that will continue to play out into the end of 2021.  Bottom line, there's more room for hope at this point, but still no room for complacency.

Attribution: Matthew Graham for Mortgage news daily

Here's why Proposition 19 could make a big difference to you

Understanding Proposition 19

On or after April 1, 2021, California homeowners can realize significant annual property tax savings under Proposition 19. It removes location and price restrictions to allow homeowners who are 55 or older, severely disabled, or victims of wildfires or natural disasters to:

What Qualifies?

1. Purchase a replacement home anywhere in California and transfer the taxable value of their current home, allowing them to realize significant annual property tax savings.

2. Move closer to family or medical care, purchase a home that better meets their

needs, replace a fire-damaged home, or retire or relocate anywhere in the state without a tax increase.

3. Save substantially in annual property taxes when moving to a replacement home, even if the replacement home is more expensive than the original primary residence (with an adjustment upward to their tax basis if the replacement property is of greater value).

4. Transfer the low property tax base of their original home to a new home up to three times.

To learn more, click below

Top 10 reasons to sell your Los Angeles Area home NOW!

10.

The Days On Market for properties has been paused by the computer system, THEMLS.

This is a crucial indicator that buyers look at when evaluating a property. If a property has 30 days on market and no offers it’s time to rethink the price.

Currently with the DOM paused you can have a property on the market and its going to look like it just came on the market

9.

Property values may decline.

Property in the Southern California area has been blessed with terrific appreciation over the last 10 years, and as we saw in 2008-10 property also goes down in value.

8.

Inventory is low right now

Most areas have less than 3 months of inventory. As the crisis started many homeowners have taken a wait and see approach.

The months of inventory level is determined by taking the number of homes that typically sell in an area in a month and then using the number of homes currently on the market dividing by that number. Anything under six months of inventory is considered a sellers market, and if there are so many homes for sale that it would take more than 6 months for all of the homes currently listed to be absorbed, then the buyers control the market.

7.

Properties are still selling at pre-pandemic prices

As we look at the properties that are selling every day, typically about 50 or so in the Los Angeles area, over all price ranges, the closings are not showing a significant price drop. Yet.

If people stay unemployed, ultimately our foreclosure inventory will increase, this forces the price downward, as banks liquidate those properties.

6.

Listen to your gut

If your gut is saying “lets sell. I want out of this situation. “ contact me I would be happy to offer any honest data that I can find about what properties like yours are selling for, how long its taking, and what we can do to make it a safe and healthy experience for you and the buyers. We have tech like virtual tours and property videos that are getting thousands of views online by buyers who want a new place.

Fun fact: home searches have actually increased as people flock to social media for entertainment.

5.

If you can’t afford it anymore.

If your circumstances are changing. Layoffs, unemployment, and divorce are facts of life right now. As more people default the property values will decline.

The time to sell is now while you can capture your equity.

4.

The roads are quieter

If your home is on a busy street, this is a great time to sell. While traffic is less.

The buyers can experience how nice the neighborhood is without all the noise.

3.

Wells Fargo/Chase/Bank of America have stopped Home equity loans and cash out refinances

The banks have many internal economists and frankly its pretty obvious what comes next. They have stopped lending on home equity because they think it’s gone and if they lend it, they won’t get it back. (And they’re probably right)

Source:BANKRATE https://apple.news/A-6uLDX7PQEuBFcRjuVILDg

2.

Forbearance = Foreclosure

I understand what people want the Govt. Forbearance plan to be.

The want everything to be ok. They would like to just stick the payment on the end of the loan.

So Simple. So easy.

From my research for my own properties, this is not what this program is, far from it. In a few months all the payments will be due plus the new payment plus interest.

1.

Take a profit

An intelligent investor I know said “ Never be ashamed to take a profit”.

As I talk to many homeowners, I hear things like “When its worth 3 million I’ll sell”

Dont let the perfect be the enemy of the very good

If you had waited till Tesla stock got to $1000 you would have missed selling it at $968, its currently at $780.

Dont set an impossible price target for your asset, if your situation calls for considering selling lets do it.

Andrew Robarge has been an agent with Keller Williams Hollywood hills for over 15 years, serves on the Agent leadership council, his brokerage is #1 for Sales volume, #1 for dollar volume of homes sold, and #1 in Agent count.

Cell 310-621-7672

Andrew@epicpropertygroup.com

Our marketing versus their marketing

We will let the pictures speak for themselves.

When it comes to your most valuable asset, your home, you can rely on us to market your home and deliver incredible results.

Here is our Key photo of the property:

And below is how the first listing agent chose to market the same home.

Nothing sells a house like a kitchen. This home had an incredible kitchen, it just needed a coat of paint.

We have excellent vendors who can do this type of renovation easily and inexpensively.

This homeowner was not happy, and cancelled the listing after about 90 days.

Here is our photo of the backyard:

And here is the previous agents photo of the backyard.

At epic property group we take selling your home seriously. Significant time, money and effort goes in to selling a home. We look forward to achieving impressive results for you.

CONTACT US RIGHT NOW for a complimentary consultation.