Real Estate News & Views

Malibu Oceanfront Landmark Estate

2021-06-29T21:17:00.001-07:00

Malibu Oceanfront Landmark Estate For $56.5M

This stunning home features massive high ceilings throughout, with walls of glass to gaze out to the whitewater and sunset views.

Gillian Smith, Patch Staff

Posted Tue, Jun 29, 2021 at 2:18 pm PT

MALIBU, CA -- Check out this newly listed home in Malibu!

Address: 31842 W Sea Level Dr, Malibu, California
Price: $56,500,000
Square Feet: 10500
Bedrooms: 5
Bathrooms: 6 Full and 1 Half Baths
Built: 1995
Features: Once in a lifetime a property comes on the market that transcends the epitome of Malibu living. For the first time ever this Malibu Oceanfront Landmark Estate has become available. Enter through your private gates to this Magnificent Villa on 281 ft +/- of ocean frontage. 10 lots totaling approximately 1.56 acres. The Private Villa encompasses 10, 500 sq ft of luxury living on 3 levels. Massive high ceilings throughout all the main entertaining spaces with walls of glass to gaze out to the whitewater and sunset vistas yet at the same time affording complete privacy from the beach below. Master Suite with whitewater and sunset views down the coastline. The oceanfront massive wrap around terrace is completely private from public eye and has a private staircase to the beach and sand below. Other amenities include 3 upstairs ocean view bedroom suites with a large guest terrace, basement includes wine cellar, game room, space for a home theatre, gym and direct access to the beach for your morning jog.

This listing originally appeared on realtor.com. For more information and photos, click here.

https://www.realtor.com/realestateandhomes-detail/M2851232623

Who’s buying the houses? Investors amassing thousands of Airbnb rentals

2021-06-27T19:15:00.001-07:00

FILE – In this Feb. 22, 2018, file photo, Airbnb co-founder and CEO Brian Chesky speaks during an event in San Francisco. Airbnb says it will spend the next year verifying all 7 million of its listings as it works to improve user trust. Chesky said the company is also launching a 24-hour hotline for guests, neighbors and others to report problems. (AP Photo/Eric Risberg, File)

By BLOOMBERG | |

PUBLISHED: June 25, 2021 at 11:05 a.m. | UPDATED: June 25, 2021 at 11:19 a.m.

By Patrick Clark | Bloomberg

Investors hunting for returns in the frenzied U.S. real estate market are tapping a new strategy: building massive portfolios of houses to rent out on Airbnb.

A recent filing reveals that Dublin, Ohio-based ReAlpha is seeking to spend as much as $1.5 billion, including debt, to buy short-term rentals at an unprecedented scale. The money would be enough to purchase roughly 5,000 homes, Chief Executive Officer Giri Devanur said in an interview.

Emboldened by a post-pandemic travel boom and searching for better returns than they can get in hotels or apartment buildings, other firms are building on the strategies employed by the scrappy entrepreneurs who built small portfolios of short-term rentals and helped drive Airbnb Inc.’s decade-long rise.

Plans to buy giant pools of rentals would mark a shift toward a consumer experience with Airbnb that more closely resembles a hotel stay. But it comes as record-low home inventory pushes prices higher for average buyers and Wall Street investors alike.

“The business model has been proven, and now the opportunity is to do this at scale,” said Scott Shatford, CEO of AirDNA, which provides data and analytics to the industry. “People can’t figure out how to deploy capital quickly enough.”

Fast decisions

Devanur, who took enterprise-software company Ameri100 public in 2017, said he wants to open up access to real estate investing by letting regular people buy fractional ownership of short-term rentals on his company’s app.

ReAlpha plans to use artificial intelligence software to evaluate home listings and make fast decisions on how much it’s willing to pay. The company will target markets including Austin, Dallas and Miami, where it can acquire 100 to 500 homes. And it’s exploring ways to buy discounted homes when a federal foreclosure moratorium ends.

“We have spoken to a bunch of banks where we can buy hundreds of properties at a time,” Devanur said. “We can analyze thousands of properties in a minute. For us, everything is through technology.”

Rental rise

Airbnb’s rise over the last decade inspired a generation of entrepreneurs who buy, furnish and manage vacation rentals on a small scale. Larger companies also sprung up, often focusing on managing properties as opposed to owning them. In some cases, they branded their offerings, creating lodging businesses akin to Courtyard by Marriott or Hampton Inn.

Venture capitalists, meanwhile, backed companies that leased apartments from building owners and converted them into a new category of hotel. One such firm, Sonder, is slated to go public through a merger with a blank-check company later this year.

Still, owning short-term rental homes in far-flung locations is challenging. It requires owners to route house cleaners and maintenance people across large areas. While long-term leases protect owners of offices, apartments and warehouses from economic shocks, the hospitality industry enjoys no such buffer.

Acquiring homes won’t be easy at a time when low inventory is pushing prices higher, and investors like Blackstone Group Inc., KKR & Co., and others commit billions of dollars to buying single-family rental homes.

Higher prices

Short-term rental investors can focus on different types of homes than regular buyers or Wall Street landlords, but the capital pouring into residential real estate from all corners will make houses more expensive to come by.

For Airbnb, the arrival of larger, more sophisticated investors could be a blessing, even if it contradicts the company’s efforts to market itself as a way for travelers to experience new places like local residents. Large investors represent a potential source of new listings, and may offer a product that appeals to people who like the comfortable uniformity of hotels.

A representative for Airbnb declined to comment.

Growing appetite for short-term rentals will attract tens of billions of dollars in the years to come, said Sean Breuner, whose company, AvantStay, manages branded properties that offer concierge services. It also operates a brokerage to help investors find real estate.

“It is the last remaining asset class with any yield remaining,” said Breuner. “We believe there is a huge opportunity to institutionalize.”

https://www.presstelegram.com/2021/06/25/whos-buying-the-houses-investors-amassing-thousands-of-airbnb-rentals/?utm_email=94A2C49F049FB4ADD48505F280&g2i_eui=xX8oMcW1gqNQcZfOaFi9UszAoi56vjWT&g2i_source=newsletter&utm_source=listrak&utm_medium=email&utm_term=https%3a%2f%2fwww.presstelegram.com%2f2021%2f06%2f25%2fwhos-buying-the-houses-investors-amassing-thousands-of-airbnb-rentals%2f&utm_campaign=scng-lbpt-business&utm_content=automated

Buzz: Home prices, Southern California

2021-06-26T15:13:00.000-07:00

“Bubble watch”Drills into trends that may indicate future economic and / or housing market troubles.

Buzz: Home prices, supported by a pandemic in Southern California, are skyrocketing at a pace not seen since the early days of real estate recovery from the Great Recession.

Source: Reliable spreadsheet analysis of DQNews / CoreLogic home purchase data, history up to April and 1988.

trend
Median selling prices in the Southern California region of the six counties were $ 655,000 in April, rising $ 60,000 in just three months.

This means that typical homes here will increase at a rate of $ 1 every two minutes from February to April.

Yes, it’s a great buying season, so prices jump — averaging 5% over the three months from 1988 to April. This year it doubled to a 10% increase!

How unusual is it? Only 10 times in 34 years, there was a bigger price hike.

And what was the last time you saw a faster rise?

Now, at the beginning of the August pandemic era, there was an 11% spurt, so COVID-19 produced the two biggest spikes in 34 years. However, there was a final big increase in June 2013, before the coronavirus became a common name.

Anatomy
Consider the price increase for the three months to April at the county level. They are ranked according to the scale of the price surge.

San Diego: It recorded a median of $ 700,000 and increased by $ 60,000 in three months. This 9.4% increase has been more than 11 times since 1988.

Orange: The median was $ 872,750, an increase of $ 73,750 over the three months. The 9.2% gain has exceeded 10 times since ’88.

Los Angeles: It was a record high of $ 750,000 and increased by $ 60,000 in three months. Since 888, the rate of increase of 8.7% has exceeded 20 times.

Ventura: It hit a median of $ 705,000 and increased by $ 55,000 in three months. This 8.5% gain has exceeded 36 times since 1988.

San Bernardino: The median was $ 436,500, an increase of $ 34,000 over three months. This 8.4% increase has exceeded 23 times since 1988.

Riverside: The median was $ 489,750, an increase of $ 33,000 over three months. This 7.2% gain has exceeded 25 times since 1988.

How do you foam?
On a scale from zero bubbles (no bubbles here) to 5 bubbles (5 alarms) … 5 bubbles!

When 2021 began, Southern California homes weren’t affordable.

How many people have achieved a 10% salary increase since January? That made affordability even worse in the first quarter of this year.

Remember that the down payment required has also increased by 10%.

In addition, mortgage rates gradually rose from their all-time lows in January, declining house hunters’ purchasing power by about 4%.

Jonathan Lansner is a business columnist at the Southern California News Group.He can reach at jlansner@scng.com

Southern California home prices jump $1 every 2 minutes – Orange County Register Source link Southern California home prices jump $1 every 2 minutes – Orange County Register

Southern California home prices jump $1 every 2 minutes – Orange County Register - California News Times

Sell, Rent, or Transfer: Options for Seniors in the Midst of Downsizing

2020-07-14T10:52:00.000-07:00

Sell, Rent, or Transfer: Options for Seniors in the Midst of Downsizing  

There are many circumstances in which moving into a smaller home makes more sense than continuing to live in a property that becomes burdensome. Many seniors find themselves in such a predicament due to physical ailments associated with aging. Despite a desire to continue aging in place, older individuals may need to downsize in order to find something more manageable and affordable. One major decision involved in this transition is the fate of a senior’s prior property. Depending on the individual’s unique circumstances, the home can either be sold, rented out, or transferred to a relative. 

Selling It for an Increase in Capital 

When purchasing a new property, most people instinctively assume that selling their prior house is the only viable option. While there are potential alternatives, this is certainly the most financially stable option. By selling their old home, seniors free up a significant amount of capital that can be put towards their new property. Due to the nature of downsizing, seniors should have some extra income left over to pay off bills, put toward savings, or to take a short vacation. 

Seniors who decide to sell their property should hire a real estate agent to help ensure each step of the process goes smoothly. Real estate agents will ensure that your asking price is low enough to generate interest and high enough to leave you with a nice cushion. These professionals can also help you stage your property for listing photos and open houses. Make sure to hire a local real estate agent for a more focused approach.

Transforming It into a Rental Property 

There are some seniors who don’t have to worry about affording their new property. With no financial need to sell your old house, you may decide to hold onto it and rent it out instead. This option will still provide you with a return on your investment while allowing you to maintain ownership of the property. You might even end up making more money through this monthly revenue as opposed to one lump sum from a sale. 

Be sure to take note of the expenses that come with maintaining a rental property. For example, you’ll have to invest in repairs, such as structural damage and HVAC issues. For seniors who don’t have the energy or time to run the property themselves, there will also be an added expense of hiring a reputable property manager to look after things. You’ll still be able to come away with a positive monthly income, but these costs should always be accounted for. 

Transferring Ownership to a Relative 

Some older individuals won’t take money into consideration when deciding what to do with their old property. After decades of making memories, raising children, and celebrating holidays, it’s common for seniors to have a sentimental attachment to their house. Instead of selling it or having strangers live there, you can opt to transfer ownership of the home to a relative. You can rest assured that the home will be cared for without having to maintain it yourself. 

If you’re downsizing into a new property without selling your old one to cover the cost, be sure to determine how much you can realistically afford to spend. Take a look at your income and savings account as well as the average price for down payments in the area. Setting a budget is a great way to ensure you don’t end up with a home that’s too expensive. 

Seniors in the process of downsizing need to consider whether selling, renting, or giving their home to a family is the best option given their current financial circumstances and desires.

Photo Credit: Pixabay

Jim Vogel

Elderaction.org

jim@elderaction.org

Investing - Buy & Hold

2020-03-14T21:10:00.000-07:00

Interesting thoughts:

➸ Wealthy hang out with other wealthy people. They want the people around them to be smarter & wealthier than themselves. And no matter what the investment or the technique they use to get it done there are some basic principles that never change.

➸ “You Buy & Sell to create Cash! And You Buy & Hold to Become Wealthy!” If you just keep buying and selling you will always be working a job. Regardless if you are Wholesaling or Flipping Rehabs, it’s just work, a JOB!

➸ Holding Houses or any real estate that pays you Monthly is the first step to becoming Wealthy. By the way holding houses verses holding notes both are great, but the notes do eventually come to an end. Holding assets that produce income in the right Markets will always keep you in the Cash Flow regardless if you work or not.

Jimmy V. Reed

Jimmy V. Reed of Fort Worth, Texas has been investing in real estate since 1987.

https://realty411.com/wandering-what-to-do-now-in-real-estate-part-1

0 Loretta Road, Menifee, CA

2020-02-17T01:20:00.002-08:00

$329,000

4.95acres lot

Loretta Rd Unit 2, Menifee, CA 92584

Great location in Menifee. This vacant lot is flat & gentle rolling, ideal rectangular shape. All utilities in front of the street. Also ideal for developer to build in a growth area. Prime location near Scott Rd and Leon Road. Just approx. 3 miles from I-215 and close to Winchester Road. Scott / I-215 and Winchester / Scott are developing areas and this property is in the path of progress, with shopping centers, housing development growing all around with hundreds of new homes in the neighboring area. If you are just looking for a place in the country to call home? This is it, a big lot for your own farm, ranch, and horses. Build your own compound with a home or two, pool, sport or tennis court, horses, orchard, and garden. Future development in progress for the area by Winchester city planning. Drive by and walk around the property to appreciate it. (Buyer to verify the zoning and perform due diligence for all pertinent info with Riverside County)

JIERANAI MAIER Cal BRE #01785483 951-751-1796

http://JieranaiMaier.REALTOR

ALLISON JAMES ESTATES & HOMES

https://www.realtor.com/realestateandhomes-detail/Loretta-Rd-Lot-2_Menifee_CA_92584_M11288-18309

39801 Berenda Rd, Temecula, CA 92591

2020-02-17T01:10:00.001-08:00

JUST LISTED

4
beds
2.5
baths
2,480
sq ft
2.24
acres lot

39801 Berenda Rd, Temecula, CA 92591

Custom-built charming country home, 4 bedrooms, 3 baths. Wood floors all through the house. Formal living room, dining room with a large window looking out into beautiful trees in the garden. Master Bedroom with a fireplace, walk-n closet. Relax in front of the crackling fire in the family room with a breakfast area. Kitchen with granite countertops. Plenty of spaces for storage. One of the bedrooms could be a library or home office space. 2.24 ac. filled with Palm, Pepper trees, cactuses, lawns, all FLAT, lush greenery and an area that is ready for you to plant a vineyard or set up for horses, with horse fences already set up. Backyard has a well-designed patio with an inground pool and spa, spacious BBQ Island, BBQ Pit, Pizza Oven, perfect for gathering, afternoon entertaining family and friends. There is a custom-built Rustic Wood Cantina which can comfortably be a cozy TV sports bar for Sunday afternoon gathering. There is a 1500 sq ft workshop, and a large modular portafab building. Paved road. Enjoy country life, jogging, walking, hiking, biking & horse trails all are nearby, 100+ acres of vineyards at the end of Berenda. Hot air balloons in the skies on weekends. Serene but mins to town, Shopping, Old Town Temecula, and Pechanga Casino. No HOA, C/V Zone, the famous wineries 5 to 8 mins away. No HOA, suitable for a vacation bed & breakfast, home business. Buyer to perform due diligence with the County of Riverside Planning to develop this property.

JIERANAI MAIER Cal BRE #01785483 951-751-1796

http://JieranaiMaier.REALTOR

ALLISON JAMES ESTATES & HOMES

39840 Aladdin Cir, Temecula, CA 92591

2020-02-17T00:56:00.001-08:00

39840 Aladdin Cir, Temecula, CA 92591

LISTED FEBRUARY 2020

IN ESCROW
Temecula Valley Wine Country charming parklike setting with 4.61 acres property. Panoramic view of the mountains, hills, citrus orchards, vineyards, wineries, hot air balloons over the vineyards, the valley, & meadows. Watch the sunrises every morning from your backyard patio. There are approximately 1, 804 square feet, 3 beds, and 2 baths mobile home on the cement slab. There are horse barns, facilities, corrals, workshop and a Tiny House bungalow with 1 bed and 1 bath with its own septic. also on site. Electric lights on the property and over most of the horse corrals. There is a 220V hook up to the barn. Plenty of trees and perennial plants. So private and serene but only a few minutes to town, close to shopping, Old Town Temecula, and Pechanga Casino. C/V Zone and surrounded by vineyards, several famous wineries, suitable for a destination vacation bed and breakfast, horse ranch, orchards. Buyer to perform due diligence with the County of Riverside Planning to develop this property.Property sold As Is Seller will finance with at least 30% down.

JIERANAI MAIER Cal BRE #01785483 951-751-1796

http://JieranaiMaier.REALTOR

ALLISON JAMES ESTATES & HOMES

39695 Berenda Road, Temecula, CA 92591

2020-02-17T00:46:00.004-08:00

LISTED JANUARY 2020
PENDING FEBRUARY 2020

3beds
2baths
2,466sq ft
6.25acres lot

39695 Berenda Rd, Temecula, CA 92591

$925,000

Tremendous views all around! A wonderful single-story English Tudor-style on 6+ rural acres of usable land. Main House and Guest House sit on an approximately 1-acre flat plateau. Gently sloping lands for horses, pool, spa, or your gardens, orchards, & vineyard w/ C/V zoning. One of the highest elevations in the area, breathtaking, pano views of Temecula Valley vineyards & surrounding snow-capped mountain. 3 bds & 2 baths. Large, indoor laundry w/ cabinets & sink. Custom built-in cabinets in family room, 'great room' living/dining, hallway, and 2 bds. Front door entry, with lighted private patio, leads you into the formal great room/living room w/ brick fireplace - perfect for entertaining family & friends. Kitchen, w/ center island, opens to the family room. All wood flooring, wood-beamed cathedral ceilings, w large windows to take in the breathtaking views. Skylights in the living room & hallway. A master suite with a luxurious master bath w/soaking tub, a shower, double sinks & walk-in closet. New main electrical transformer, power lines, & panel, new wiring, interior recessed lighting & exterior fixtures. New roof, attic insulation, new heater & a/c unit & hot-water heater. New painting inside. 3-car garage w/new doors & openers. Separate Guest House, 2 story gambrel-style, approx 32ft x 22ft. Finished with kitchen, bath, workshop/office/living area on lower level & living qtr, on 2nd flr. Currently being rented. No HOA's. Close to all wineries and downtown Temecula.

JIERANAI MAIER Cal BRE #01785483 951-751-1796

http://JieranaiMaier.REALTOR

ALLISON JAMES ESTATES & HOMES

https://www.realtor.com/realestateandhomes-detail/39695-Berenda-Rd_Temecula_CA_92591_M12135-27161

42111 Majestic Court, Temecula, CA Crowne Hills Home

2020-02-17T00:17:00.001-08:00

On hold for remodeling.
Will be back online & available to show soon:

4beds
4baths
4,110sq ft
0.25acres lot

42111 Majestic Ct, Temecula, CA 92592

Property Overview - An Elegant Crowne Hill upgraded pool and spa home perfect for the executive and a large family. An entry hall leads to a large living & dining room. The downstairs bedroom has a bathroom, a sitting area. The large office/library with French leaded door opens to the patio. An impeccable kitchen with cherry cabinets, granite counter, new S/S refrigerator, new GE Profile with 5 burners, microwave oven & dishwasher. Lots of storage plus shelves in the pantry. Mosaic stone flooring in the kitchen, foyer, entry, bath, and laundry. Inside laundry room has a sink, upper, lower cabinets & recessed lighting. Custom blinds throughout, custom paint, all windows tinted, finished garage with epoxy flooring and freshly painted garage door. A loft upstairs can be an entertainment room with all the cable connected. There is a computer/library niche. The master bedroom upstairs has a separate shower and tub. A huge walk-in closet. Enjoy your backyard patio w/ built-in BBQ plus a refrigerator. Entertain with the cool breeze under a maintenance-free Aluma wood patio. The beautiful Saltwater Pool/Spa are heated with paid for Solar heating and has a new pump & new filter. There is a separate fire pit & lawn on side yard with Orange & Tangerine fruit trees & herbs. This home is fully landscaped w/ added hardscape, stairs, and light posts. Located on a small peaceful CUL-DE-SAC. Minutes from Temecula wineries, Promenade Mall & Old Town. A short drive from all freeways yet very private.

JIERANAI MAIER Cal BRE #01785483 951-751-1796

http://JieranaiMaier.REALTOR

ALLISON JAMES ESTATES & HOMES

https://www.realtor.com/realestateandhomes-detail/42111-Majestic-Ct_Temecula_CA_92592_M16029-56261

Temecula area to get hundreds of high-end hotel rooms, new winery

2019-08-08T15:13:00.000-07:00

Temecula area to get hundreds of high-end hotel rooms, new winery/

People have long enjoyed sampling Temecula Valley wine and shopping in Old Town Temecula, before getting back into their cars and driving home. But visitors to the southwest Riverside County tourist hot spot are increasingly spending several days in the area. And big projects under construction or in the planning stages are poised to accelerate that trend.

“We’re becoming a hub destination,” Kimberly Adams, Visit Temecula Valley founding president and CEO, said by phone.

“What we’re hearing from consumers is that there is so much to do here,” Adams said. “They used to see us as a day trip. And we have been transformed into a place where people are staying overnight.”

The market has noticed. And developers are capitalizing on the trend as they come up with ambitious plans. Construction continues Thursday, Aug. 1, at Europa Village in Temecula Valley Wine Country.

Ten rooms will be constructed in a Spanish-themed resort called Bolero. (Photo by Watchara Phomicinda, The Press-Enterprise/SCNG) Adams said area hotels sold out nearly every weekend until a $300 million Pechanga Resort and Casino expansion completed last year nearly doubled the number of guest rooms there to 1,090.

The expansion boosted the Temecula area’s total lodging inventory to 2,854 rooms, she said. Still more rooms are coming to Temecula Valley Wine Country and Old Town, promising not only to further boost the overall supply, she said, but also to significantly expand the offering of luxury accommodations. “It definitely helps us appeal to a higher-end customer,” Adams said. Prominent projects in the works include: * The Europa Village winery is building 10 hotel rooms.

Eventually, a total of 70 rooms will be available there. * Developer Bernard “Bernie” L. Truax II plans to break ground in September on a 185-room hotel in Old Town, then begin building in early 2020 an open-air marketplace across the street from Temecula City Hall. *

Plans are advancing for a new Twelve Oaks Winery on Temecula Valley Wine Country’s east side, near Lake Skinner. The proposal includes a 251-room hotel. On the other end of Wine Country, Europa Village is aiming to secure “at least a four-diamond rating” for a resort it is building in several phases, Temecula developer Dan Stephenson said.

“It’s a step up from what we have in the marketplace right now,” he said. The expanding accommodations, near the Wine Country gateway at Temecula’s city limit, will make visitors feel like they are staying in a European village, Stephenson said. “As you walk through the courtyard … you can be in either France, Spain or Italy,” he said.

Under construction is Bolero at Europa Village, a 10-room Spanish-themed resort. It is expected to be finished in March 2020, Stephenson said. About that time, he said, ground is expected to be broken on a 40-room, Italian-themed Vienza Resort.

Then, in 2022, construction should begin on Europa’s French-themed Cest le Vie Resort, which will have 10 rooms, Stephenson said. Complimenting the 10 existing rooms at the Inn at Europa Village, the gateway winery eventually will offer visitors the choice of 70 places to stay. Old Town developer Truax, meanwhile, intends to begin building his $135 million, 185-room, Truax Hotel in September.

He, too, is aiming for a four-diamond rating as he targets the tourist and business traveler that intends to stay in the area three to four days. The building will feature five architectural styles representing five eras of Temecula history, Truax said. It will have banquet-conference rooms, boutique shops, a rooftop patio, a wedding venue and other amenities, he said.

It could open in summer 2021. Opening in early 2021, he said, will be the nearby $45 million Truax Marketplace. It will be a pair of three-story, 50,536-square-foot, retail centers across the street from city hall on either side of the Old Town park and fountain.

Truax termed it a throwback to the early days of Temecula when “ranchers and the farmers would bring their goods and come downtown to sell them off the back of their wagons.” He envisions the Marketplace, with its Mission Revival architecture, becoming the focal point of Old Town activity.

“It’s an open-air market inside of a building, meant to be able to get all the small retailers, all the start-up people, all these specialty things that would never use a big space,” Truax said Friday, Aug. 2. Darcy Burke, a marketing consultant for Truax, called the Marketplace a place where people will leisurely stroll among shops while tasting wine, sampling craft beers and checking out local businesses’ products. Adams said the Truax projects are “going to change the landscape of Old Town Temecula.”

Down the road, the planned 631-acre Twelve Oaks Resort and Winery at Buck and Rancho California roads is destined to change the landscape of Wine Country — and create an eastern gateway for the area, Adams said. Approved by the Riverside County Board of Supervisors in March, Twelve Oaks will have a winery with a tasting room, production facility and accompanying vineyard, said David DiRienzo, owner of Urban West in Newport Beach and a project consultant.

It will have a wedding pavilion, an “event barn,” shops, restaurants and an outdoor dining area, DiRienzo said. Twelve Oaks also will have places to stay overnight.

The winery’s plans include a three-story, 251-room, Marriott hotel, DiRienzo said. Construction could get underway on the resort by summer 2020, he said, and it could open in late 2022 or early 2023. Related links.

There is a residential component. DiRienzo said plans call for building 76 single-family homes on lots ranging from 1 to 5 acres, and 21 estate homes on 10 to more than 20 acres. A Visit Temecula Valley news release states that the economic impact of the area’s tourism industry surpassed $1 billion in 2018, as the Pechanga casino, dozens of wineries, numerous shops and growing number of hotels collectively drew 3.1 million visitors. Adams said the new attractions will only serve to bolster the industry’s impact more and are in line with the long-term vision adopted by Riverside County in 2014 for the Wine Country’s expansion. “The projects are just getting better and better,” she said.
https://www.pe.com/2019/08/05/temecula-area-to-get-hundreds-of-high-end-hotel-rooms-new-winery/

Workers continue building Thursday, Aug. 1, at Europa Village in Temecula Valley Wine Country. Completion is expected in March 2020. (Photo by Watchara Phomicinda, The Press-Enterprise/SCNG)

By David Downey | ddowney@scng.com | The Press-Enterprise PUBLISHED: August 5, 2019 at 9:00 am | UPDATED: August 5, 2019 at 4:58 pm Dave is a general assignment reporter based in Riverside, writing about a wide variety of topics ranging from drones and El Nino to trains and wildfires. https://www.pe.com/2019/08/05/temecula-area-to-get-hundreds-of-high-end-hotel-rooms-new-winery/

Location, Location, Location!

2018-09-22T01:09:00.000-07:00

YES, THE OLD ADAGE IS STILL RINGS TRUE:

THIS HOME IN BEL AIR 90049 LISTED AT $4,395,000

629 Cascada Way, Bel Air 90049
$4,395,000

This Colonial traditional in lower Bel Air has been totally designed and remodeled. Huge flat lot 15,197 SF with pool and grassy yard is totally private. 4 bedrooms, spacious master –open kitchen, family room, gracious living and dining rooms- French doors-perfect for family life and entertaining! 4 beds 4.5 baths.

THIS HOME IN RIVERSIDE LISTED AT $1,198,000, Estate Home In Riverside, CA, 92508

Property History for 2882 Mesquite Dr, Santa Clara, CA 95051

Date Event & Source Price Appreciation

Jul 26, 2018
Sold (Public Records)

Public Records
$2,280,000 8.0%/yr

Date	Event & Source	Price	Appreciation
Jul 26, 2018	Sold (Public Records) Public Records	$2,280,000	8.0%/yr

Estate Home In Riverside, CA,
$1,198,000, Riverside, CA

The Headline-Making Markets Are Softening

2018-08-28T02:59:00.000-07:00

The Headline-Making Markets Are Softening

Posted:Mon, 27 Aug 2018 21:02:10 +0000

In the expansion following the recession, the conversation in housing has lingered on markets like Denver, Portland and Seattle—places where prices have risen sharply, and demand is discouragingly mismatched with supply. Now, the hottest markets’ prices are slowing, according to recently released research.

The July Zillow® Real Estate Market Report—based on the Zillow Home Value Index (ZHVI)—found that growth is mostly softening out West. Denver home prices were up 7.1 percent in July—a decline from 8.7 percent in July 2017. In Los Angeles, prices were up 6.2 percent, a dip from 7.3 percent the prior year. The rate in Riverside, similarly, was 7 percent, a drop from 8 percent the prior year. In Portland, Ore., and Seattle, prices were up 5.7 percent and 9.1 percent, respectively, sinking from 9 percent and 14.2 percent.

Exceptions are San Francisco, which grew from 6.9 percent last year to 10.4 percent this year, and San Jose, which grew from 8.4 percent to 26 percent.

One outlier is Tampa, where appreciation has decelerated from 14.2 percent to 10.6 percent.

“The nation’s pricier markets are starting to feel an affordability squeeze as buyers begin to balk at the sustained, rapid rise in prices that have followed the strong job growth and high housing demand of the past half-decade,” says Aaron Terrazas, senior economist at Zillow.

Still, appreciation is strong, nationally at 8 percent year-over-year, according to the report. In July, the median rose to $218,000—a record—and growth is higher, historically, in the majority of markets in the report.

“Despite the slowdown, home values are still growing faster than their historic pace in almost all large markets, and it’s far too soon to call it a buyer’s market,” Terrazas says. “In many of the nation’s more affordable areas, aside from the pricey and exclusive San Francisco Bay Area, home value growth has perked up as buyers continue to seek good value for their money—but it’s clear that the winds that have boosted sellers over the past few years are ever-so-slightly starting to shift.”

For more information, please visit www.zillow.com.

Suzanne De Vita is RISMedia’s online news editor. Email her your real estate news ideas at sdevita@rismedia.com. For the latest real estate news and trends, bookmark RISMedia.com.

The post The Headline-Making Markets Are Softening appeared first on RISMedia.

Spectacular Wine Country Estate in Country Road Estates, Temecula, So Cal.

2018-08-26T23:37:00.002-07:00

'SOLD SOLD SOLD' $1,700,000
September 2019.

Spectacular Wine Country Estate located in the Prestigious

Country Road Estates area in Temecula. Nestled on 6+ acres

with incredible views. Offering 6119 sq ft. of luxurious living.

Beautiful Iron & glass double door entry, marble & wood

flooring. A Wonderful family room w/ custom built ins &

fireplace Elegant living room w/fireplace & beautiful views

of the valley. Entertain with ease in this spectacular kitchen.

Top of the line Wolfe appliances, double ovens & warming

drawer, sub zero refrig & freezer. Huge granite island w/

seating for 7. Custom cabinetry & pantry space.

Main level master suite is gracious & beautiful w/fireplace &

sitting area. Luxurious master bath w/ double sinks & vanity

area, 2 closets & a wonderful soaking tub. 4 more spacious

bedrooms on main level. Downstairs has a huge game room

w/ full wet bar & sliding door that leads out to the resort style backyard. A very elegant home for entertaining & enjoying

the country life. Located near all wineries, shopping & miles

of trails for riding. Backyard is an entertainers dream with

Custom pool & spa. Wonderful stone fireplace for chilly

evenings. Custom fire pit w/ seating & beautiful views.

Lots of usable land for vineyards or horses. Security gate

w/ long drive way lined w/ Italian Cypress trees, beautiful

roses & manicured grounds & garden areas. This custom

estate backs to the private Billy Joe Airport, 2200 foot

paved airstrip, which is privately owned by the community.

See More Pics:

https://www.homesnap.com/CA/Temecula/33895-Calle-Vista

LISTING AGENT

Karin McCoy

DRE #01323266

Allison James Estates & Homes

CO LISTING AGENT

Jieranai Maier

Jieranai Maier

DRE #01785483

Allison James Estates & Homes

https://www.homesnap.com/Jieranai-Maier-1

A Beautiful Crowne Hill Upgraded Pool Home

2018-08-26T22:26:00.004-07:00

REDUCED TO SELL $745,000
42111 Majestic Court, Temecula, .CA.
A Beautiful Crowne Hill Upgraded Pool Home
4/4,0,0,0, BED / BATH, 4,110 SQFT
PRICE PER SQFT: $187.10 ⬅️⬅️
LOT 0.25 ac, 10,890 SQFT.
A beautiful Crowne Hill upgraded pool home with double master & a downstairs bedroom; a large office /library with French door & exterior leaded door opens to the patio. An entry hall leads to a large living & dining room. A large kitchen has cherry cabinets, granite counter, new S/S refrigerator, new GE Profile with 5 burners, & dishwasher. Lots of storage plus additional in the pantry. Mosaic stone flooring in kitchen, foyer, entry, bath and laundry. Inside laundry room has sink, upper, lower cabinets & recessed lighting.

Custom blinds throughout, custom paint, all windows tinted, finished garage with epoxy flooring and freshly painted garage door. A loft upstairs can be an entertainment room with a computer/library niche. The master bedroom upstair has a seprate shower and tub. A huge walk-in closet. Entertain in your backyard patio w/ built-in BBQ plus a refrigerator. Enjoy the cool breeze under a maintenance free alumawood patio. The beautiful saltwater pool/spa has solar heating and comes with a new pump & new filter. There is a separate fire pit & lawn on side yard. The family fruit trees are lemon, orange & tangerine. This home is fully landscaped w/ added hardscape, stairs and light posts. Located on a small CUL-DE-SAC. Only few minutes from Temecula wineries, Promenade Mall & Old Town. Short drive from all freeways yet this home is situated in a quiet, peaceful neighborhood.
SO MUCH TO OFFER.
Your possibilities are endless in this gorgeous home.

CONTACT:

Jieranai Maier Cal DRE #01785483 951-751-1796

CAL DRE#01785483, Jieranaimaier.com
https://www.homesnap.com/Jieranai-Maier-1
https://www.instagram.com/p/BkTDpLIFm-Q/?taken-by=jerimaier
Co-listing:
Marie Cruz Cal DRE #01405776 Cell: 909-936-0728.
Allison James Estates & Homes Cal DRE # 01885684

Neighborhood Names That Attract Wealthy

2018-08-16T17:07:00.004-07:00

August 9, 2018

You may be able to judge a neighborhood by its name. Some neighborhoods containing certain names tend to attract the wealthiest residents and boast the highest home values, according to a new study by Porch.com, a home improvement resource.

Neighborhoods that include names like “Hills,” “Island,” and “Village,” for example, tend to report some of the highest average household incomes in the country. On the other hand, the lowest home values were found in neighborhoods with words like “Fort,” “Junction,” and “Rock” in their names.

In the richest neighborhoods, researchers found places that had names using the words “Village,” “Valley,” and “Heights” tended to exceed $100,000 in average household incomes. For example, in Texas, 22 neighborhoods and communities that contained the name “Village” had average household incomes of more than $174,000. Colorado and Michigan communities that contained the word “Village” in the name also contained some of the states’ wealthiest residents, too.

Porch researchers looked at the neighborhoods with the highest incomes and home values in each state. View the chart below for a breakdown of each state’s neighborhood name that boasted the highest average incomes.

Source:

“The Most Valuable Neighborhood Names,” Porch.com (2018)

2018-07-08T08:03:00.001-07:00

OPEN HOUSE Sunday 12:30 to 3:30 7/8/2018.
42111 Majestic Court, Temecula, .CA.
CAL DRE#01785483, Jieranaimaier.com
A Beautiful Crowne Hill Upgraded Pool Home
$769,000
Temecula, CA
4/4,0,0,0, BED / BATH, 4,110 SQFT
PRICE PER SQFT: $187.10 ⬅️⬅️
LOT 0.25 ac, 10,890 SQFT.
A beautiful Crowne Hill upgraded pool home with double master & a downstairs bedroom; a large office /library with French door & exterior leaded door opens to the patio. An entry hall leads to a large living & dining room. A large kitchen has cherry cabinets, granite counter, new S/S refrigerator, new GE Profile with 5 burners, & dishwasher. Lots of storage plus additional in the pantry. Mosaic stone flooring in kitchen, foyer, entry, bath and laundry. Inside laundry room has sink, upper, lower cabinets & recessed lighting.

https://www.instagram.com/p/BkTDpLIFm-Q/?taken-by=jerimaier

CONTACT:
Jieranai Maier Cal DRE #01785483 951-751-1796
Marie Cruz Cal DRE #01405776 Cell: 909-936-0728.
Allison James Estates & Homes Cal DRE # 01885684

Spectacular Estate In Temecula Wine Country

2018-06-21T03:45:00.000-07:00

Spectacular Wine Country Estate located in the Prestigious Country Road Estates area in Temecula.

33895 Calle Vis, Temecula
$2,275,000

6 beds
4 full,

1 half baths
6,119 sq ft
6.21 a this Home

Nestled on 6+ acres with incredible views.

Offering 6119 sq ft. of luxurious living. Beautiful Iron & glass double door entry, marble & wood flooring. A Wonderful family room w/ custom built ins & fireplace Elegant living room w/fireplace & beautiful views of the valley. Entertain with ease in this spectacular kitchen.
Top of the line Wolfe appliances, double ovens & warming drawer, sub zero refrig & freezer. Huge granite island w/ seating for 7. Custom cabinetry & pantry space.

Main level master suite is gracious & beautiful w/fireplace & sitting area. Luxurious master bath w/ double sinks & vanity area, 2 closets & a wonderful soaking tub. 4 more spacious bedrooms on main level. Downstairs has a huge game room w/ full wet bar & sliding door that leads out to the resort style backyard.

A very elegant home for entertaining & enjoying the country life. Located near all wineries, shopping & miles of trails for riding. Backyard is an entertainers dream with Custom pool & spa. Wonderful stone fireplace for chilly evenings. Custom fire pit w/ seating & beautiful views.

Lots of usable land for vineyards or horses. Security gate w/ long drive way lined w/ Italian Cypress trees, beautiful roses & manicured grounds & garden areas.

This custom estate backs to the private Billy Joe Airport, 2200 foot paved airstrip, which is privately owned by the community.

Colonial Estate Home In Riverside.

2018-02-18T22:58:00.003-08:00

Pure pleasure. This colonial executive home is in the heart of the highly sought after Crystal Ridge Estates, the most desirable area of Riverside. Almost 1 acre of beautiful grounds and manicured grass areas with mature trees. Beautiful water features through out property. Enter into a 2-story entry foyer, formal living room and dining room, great room with fireplace. Large kitchen with lots of counter space and beautiful cabinetry with lots of storage. Wonderful library, loft area off of the living room. Very gracious and open floor plan. Perfect home for all to enjoy. Nestled on almost 1 acre of beautiful park like grounds with lush landscaping. This home provides ultimate privacy and security with a wrought iron entrance gate. It shows true pride of ownership. Charming brick patio, perfect for enjoying the outside and for great BBQ's. Plenty of room for a wonderful pool and spa. Lots of possibilities with this wonderful estate. This home was built for gracious entertaining and comfortable living.

CONTACT:
Jieranai Maier 951.751.1796
Jieranai@JieranaiRealEstate.com
Cal BRE#01785483
Allison James Estates & Homes,

Virtual Tour Here:
http://tours.tourfactory.com/tours/tour.asp?t=1853109&idx=1

More info here:
https://www.realtor.com/realestateandhomes-detail/18365-Berry-Rd_Riverside_CA_92508_M20255-94390

Another Fixer Upper... Days Gone By!

2017-01-08T13:43:00.000-08:00

Another Fixer Upper:
REO sold for less than $600K transformed and Listed for MORE THAN $3.5M (NOT SOLD)

Thumbnails · Album

TRANSFORMED and Listed for MORE THAN $3.5M (NOT SOLD)

Thumbnails · Album

Listing Courtesey of Samir Abadir

Real Estate Business.

2016-12-10T15:48:00.001-08:00

Real Estate agents (and brokers) are viewed negatively as lawyers, car salesman and

To add to this article about the real estate career analysis:

In the United States Alone there are currently 5 million plus individuals working in the various parts of the real estate industry, including mortgage banking, construction, title insurance, appraising, property management, brokerage and leasing, and real estate development. In addition to that number are the thousands of people working as commercial banking lenders, corporate real estate agents, savings and loan officers, and insurance companies who aren’t officially part of the real estate industry. Because real estate serves as a guarantee for mortgages and the foundation for mass amounts of capital, more than 33% of global financial assets are connected to real estate. Real estate is an exciting and essential part of the global society. Those who work in real estate provide a service that affects each of our lives, and they contribute to development that will impact society for generations.... http://www.careeroverview.com/real-estate-careers.html
There are other businesses that depends on Real Estate agent that are left out of the above. RE Signs companies, signs installer, business cards/brochures printing companies, Real Estate magazines, REO Rehabs, Staging company, Interior Designers, House cleaning companies, Gardeners, Landscape companies, Pool & Spa companies, Termite inspection, Home inspection, Homeowner Insurance company. Real Estate web sites, Real Estate advertising / magazines.

http://www.anchor-tax-service.com/financial-tools-deductions/real-estate-agents/

Location, Location, Location!!

2016-10-27T17:32:00.003-07:00

We have heard the Real Estate pundits repeating the same mantra of Real Estate... Location, Location, Location!!
I hear you... Yes, Yes, Yes,

My GF lost a $550,000 home, a beautiful town house in Tustin, due to the worst economy in decade. This horrible economy also obliterated her business which she has been working on for over 30+ years.

She was fortunate enough to be able to move to Kentucky and after struggling for 2 years & living with a friend; she finally was able to get a part time job and settle down. Earlier this week she called me and gave me the good news. She just bought a home. She sent me the photos of her soon to move in home.

How beautiful it is? & You would not believe the price tag!!!
$150,000 for a 2 bedrooms, 2 baths rehab home !!!

Now.. Take a look at these homes ... Location! Location! Location.
Right?

Northern California - Silicon Valley:
San Jose & Los Altos.

Los Altos

Malibu, CA 90265

FOR SALE

$3,495,000

3 beds3 baths-- sqft

1,600,000 JUST LISTED:

CAMPBELL CA 95008

NEED I SAY MORE??

Jeri Maier

Downsizing? Ditch These Items

2016-08-14T10:29:00.002-07:00

Downsizing? Ditch These Items

Here's what you should pitch so you can get organized and reclaim some space

by Jeff Yeager, July 15, 2015|Comments: 238

The Big House

En español | Consider making this decision as soon the kids are gone rather than when you're ready to retire. Even if your home is already paid for, there are still significant costs in owning more space than you really need, including taxes, utilities, insurance and repairs. Plus, it will force you to downsize other belongings, too. You'll also have an excuse for why the kids can't move back in with you later! — Istock

The Big House

En español | Consider making this decision as soon the kids are gone rather than when you're ready to retire. Even if your home is already paid for, there are still significant costs in owning more space than you really need, including taxes, utilities, insurance and repairs. Plus, it will force you to downsize other belongings, too. You'll also have an excuse for why the kids can't move back in with you later! — Istock

1 of 13
Debt

Over the course of a lifetime, the average American today will pay more than $600,000 in interest on all the money he or she borrows, according to CreditLoan.com. Pay off debt as quickly as possible.Definitely pay it off before you retire. Live by this old-school rule: If you can't afford to pay for it now, you simply can't afford it. — Istock

'

Clothes

If your wardrobe has outgrown your closet and dresser, start by purging enough pieces so that everything will fit. Get rid of unwanted clothing at yard sales or online, or by donating items to charity. — Shutterstock

3 of 13
Anything in Off-Site Storage

According to the Self Storage Association, there are about 50,000 self-storage facilities in the U.S. That's more than five times the number of Starbucks! Vow to eliminate storage fees by getting rid of enough stuff so that all your possessions fit in your own home. — Istock

4 of 13
of 13
Kitchen Appliances and Gadgets

Ask yourself: "When was the last time I plugged that in?" If it's been more than six months since you've used the waffle iron or bread maker, it's probably time to find that appliance a new home. While you're in the kitchen, eliminate unused culinary gadgets and nonmatching tableware. — Shutterstock

6 of 13
Car

Besides downsizing your home and eliminating debt, getting rid of one — or all — of your vehicles could result in the greatest savings. According to AAA, it currently costs an average of $8,698 annually to own and operate a vehicle in the U.S. if you factor in all the costs, including depreciation. If you're a two-car family, getting rid of one set of wheels might make sense once one or both partners are no longer working. You might be able to get by with public transportation or a car-share program, or at least downgrade to less-expensive vehicles. If you're planning to relocate in retirement, there are communities where owning a car may not be necessary. — ZUMA Press/Alamy

7 of 13
Childhood Memorabilia

If your kids or other family members don't want keepsakes from their own childhood (or yours) now, they're not going to want them when you're gone. Hold on to a few precious, symbolic mementos — those that truly spark memories and joy — and digitize images of the other things. — Getty Images

8 of 13
Furniture

Filling — and too often, overfilling — a room with furniture is a common tendency. Doing so makes the room seem smaller and gives you more places to store and display more stuff. Start by eliminating a couple of pieces from a room and see how much more spacious it feels. — Taylor S. Kennedy/Getty Images

9 of 13
Books, Magazines, DVDs

Unless a book has sentimental value or you're going to read it again, put it back into circulation via a yard sale or thrift store so that others can enjoy it. Or donate it to your library, where you can always get free access to books, CDs and DVDs. You can store countless e-books (many are available for free) on an e-reader that's smaller than a single print volume, and you can easily digitize your music and movie collections. — Istock

10 of 13
Files

Consumer Reports advises organizing your important files into four categories: "papers that you need to keep for the calendar year or less; ones that can be destroyed when you no longer own the items they cover; tax records, which you should save for seven years; and papers to keep indefinitely." You can access copies of many documents (e.g., bills, bank statements, user manuals, etc.) via online accounts. Consider storing digitized documents on a Web-based storage service or an external drive. — Istock

11 of 13
Decorations

While holiday decor has some sentimental value, consider getting rid of the decorations you haven't used in the past five years, particularly bulkier items such as outdoor decorations and holiday tableware you use just once a year. — Getty Images

12 of 13
View More Slideshows
Discover great deals and savings on shopping, dining and entertainment as an AARP member.
13 of 13

Exercise Equipment

If the exercise bike or treadmill in your bedroom has morphed into a permanent clothes rack, donate it to a local thrift store or charity. — Joshua Dalsimer/Corbis

Clothes

If your wardrobe has outgrown your closet and dresser, start by purging enough pieces so that everything will fit. Get rid of unwanted clothing at yard sales or online, or by donating items to charity. — Shutterstock

http://www.aarp.org/money/budgeting-saving/info-2015/downsizing-items-to-ditch-photo.html?cmp=SL-DSO-OUTBRAIN-DESKTAB-MONEY--SLIDE-PV_Downsizing%3F+Ditch+These+12+Items_1054317241_5376658#slide1

Yikes & Yukes!

2016-07-23T12:47:00.001-07:00

I saw a ridiculous listing for home for sale in Northern California and now..

This is a listing supposedly in Southern California;

This Los Angeles Home Was Just Listed For $475,000 Cash Only. But Wait Until You See The Inside. OMG

http://awm.com/this-los-angeles-home-was-just-listed-for-475000-cash-only-but-wait-until-you-see-the-inside-omg/?utm_medium=sidebar&utm_sour ce=aol

This Los Angeles Home Was Just Listed For $475,000 Cash Only. But Wait Until You See The Inside. OMG

A piece of junk just hit the market for $475,000 in a ritzy neighborhood in Los Angeles, California.

The 1,276-square foot home in Northridge, Los Angeles “is truly the worst home in the best neighborhood,” the listing states.

The house, which was built in 1956, seems like it has never had any work done on it. It is run down and junky looking. It’s filled with exposed pipes and brown stains throughout the home. It’s disgusting. And truly unlivable.

But since the home is in a wealthy neighborhood with higher-than-average home prices, the owner is trying to sell it at a high price.

The average household income in the area is $77,366 and the average home sale price is $345,500.

Listed as a “contractor’s special” and a “flipper’s fantasy,” the home is in such a sad state of disrepair it’s uncertain anyone will want to pay the high price tag.

Whoever buys the property will need to tear down the home and rebuilt from scratch.

“This home needs a complete rehab. The pictures say everything except for the fact that this home is located at the back of a cul de sac in a wonderful well maintained neighborhood,” the listing states.

Over the years, Northridge has been home to several Hollywood film makers and sports players.

This Los Angeles Home Was Just Listed For $475,000 Cash Only. But Wait Until You See The Inside. OMG

A piece of junk just hit the market for $475,000 in a ritzy neighborhood in Los Angeles, California.

The 1,276-square foot home in Northridge, Los Angeles “is truly the worst home in the best neighborhood,” the listing states.

YIKES & YUKES!

But since the home is in a wealthy neighborhood with higher-than-average home prices, the owner is trying to sell it at a high price.

The average household income in the area is $77,366 and the average home sale price is $345,500.

Listed as a “contractor’s special” and a “flipper’s fantasy,” the home is in such a sad state of disrepair it’s uncertain anyone will want to pay the high price tag.

Whoever buys the property will need to tear down the home and rebuilt from scratch.

“This home needs a complete rehab. The pictures say everything except for the fact that this home is located at the back of a cul de sac in a wonderful well maintained neighborhood,” the listing states.

Over the years, Northridge has been home to several Hollywood film makers and sports players.

Do you think anyone will stanch up this crappy home?

Please SHARE this story with anyone you think will laugh at this listing!

Yikes & Yukes!

2016-07-23T12:47:00.000-07:00

I saw a ridiculous listing for home for sale in Northern California and now..

This is a listing supposedly in Southern California;

This Los Angeles Home Was Just Listed For $475,000 Cash Only. But Wait Until You See The Inside. OMG

http://awm.com/this-los-angeles-home-was-just-listed-for-475000-cash-only-but-wait-until-you-see-the-inside-omg/?utm_medium=sidebar&utm_sour ce=aol

This Los Angeles Home Was Just Listed For $475,000 Cash Only. But Wait Until You See The Inside. OMG

A piece of junk just hit the market for $475,000 in a ritzy neighborhood in Los Angeles, California.

The 1,276-square foot home in Northridge, Los Angeles “is truly the worst home in the best neighborhood,” the listing states.

But since the home is in a wealthy neighborhood with higher-than-average home prices, the owner is trying to sell it at a high price.

The average household income in the area is $77,366 and the average home sale price is $345,500.

Listed as a “contractor’s special” and a “flipper’s fantasy,” the home is in such a sad state of disrepair it’s uncertain anyone will want to pay the high price tag.

Whoever buys the property will need to tear down the home and rebuilt from scratch.

“This home needs a complete rehab. The pictures say everything except for the fact that this home is located at the back of a cul de sac in a wonderful well maintained neighborhood,” the listing states.

Over the years, Northridge has been home to several Hollywood film makers and sports players.

This Los Angeles Home Was Just Listed For $475,000 Cash Only. But Wait Until You See The Inside. OMG

A piece of junk just hit the market for $475,000 in a ritzy neighborhood in Los Angeles, California.

The 1,276-square foot home in Northridge, Los Angeles “is truly the worst home in the best neighborhood,” the listing states.

YIKES & YUKES!

But since the home is in a wealthy neighborhood with higher-than-average home prices, the owner is trying to sell it at a high price.

The average household income in the area is $77,366 and the average home sale price is $345,500.

Listed as a “contractor’s special” and a “flipper’s fantasy,” the home is in such a sad state of disrepair it’s uncertain anyone will want to pay the high price tag.

Whoever buys the property will need to tear down the home and rebuilt from scratch.

“This home needs a complete rehab. The pictures say everything except for the fact that this home is located at the back of a cul de sac in a wonderful well maintained neighborhood,” the listing states.

Over the years, Northridge has been home to several Hollywood film makers and sports players.

Do you think anyone will stanch up this crappy home?

Please SHARE this story with anyone you think will laugh at this listing!

Real Estate News & Views

Malibu Oceanfront Landmark Estate

Malibu Oceanfront Landmark Estate For $56.5M

This stunning home features massive high ceilings throughout, with walls of glass to gaze out to the whitewater and sunset views.

Gillian Smith, Patch Staff

Posted Tue, Jun 29, 2021 at 2:18 pm PT

Who’s buying the houses? Investors amassing thousands of Airbnb rentals

Fast decisions

Rental rise

Higher prices

Buzz: Home prices, Southern California

Sell, Rent, or Transfer: Options for Seniors in the Midst of Downsizing

Investing - Buy & Hold

0 Loretta Road, Menifee, CA

Loretta Rd Unit 2, Menifee, CA 92584

39801 Berenda Rd, Temecula, CA 92591

39801 Berenda Rd, Temecula, CA 92591

39840 Aladdin Cir, Temecula, CA 92591

39695 Berenda Road, Temecula, CA 92591

39695 Berenda Rd, Temecula, CA 92591

$925,000

42111 Majestic Court, Temecula, CA Crowne Hills Home

42111 Majestic Ct, Temecula, CA 92592

Temecula area to get hundreds of high-end hotel rooms, new winery

Location, Location, Location!

THIS HOME IN BEL AIR 90049 LISTED AT $4,395,000

THIS HOME IN RIVERSIDE LISTED AT $1,198,000, Estate Home In Riverside, CA, 92508

Property History for 2882 Mesquite Dr, Santa Clara, CA 95051

DateEvent & SourcePriceAppreciation Jul 26, 2018 Sold (Public Records) Public Records $2,280,0008.0%/yr

The Headline-Making Markets Are Softening

The Headline-Making Markets Are Softening

Posted:Mon, 27 Aug 2018 21:02:10 +0000

Spectacular Wine Country Estate in Country Road Estates, Temecula, So Cal.

A Beautiful Crowne Hill Upgraded Pool Home

CONTACT: Jieranai Maier Cal DRE #01785483 951-751-1796

Neighborhood Names That Attract Wealthy

Neighborhood Names That Attract Wealthy Buyers

Spectacular Estate In Temecula Wine Country

Nestled on 6+ acres with incredible views.

Colonial Estate Home In Riverside.

Another Fixer Upper... Days Gone By!

Real Estate Business.

Location, Location, Location!!

Malibu, CA 90265

3 beds 3 baths -- sqft

Downsizing? Ditch These Items

Downsizing? Ditch These Items

Here's what you should pitch so you can get organized and reclaim some space

The Big House

The Big House

Debt

'

Clothes

Anything in Off-Site Storage

Kitchen Appliances and Gadgets

Car

Childhood Memorabilia

Furniture

Books, Magazines, DVDs

Files

Decorations

View More Slideshows

Exercise Equipment

Clothes

Yikes & Yukes!

This Los Angeles Home Was Just Listed For $475,000 Cash Only. But Wait Until You See The Inside. OMG

This Los Angeles Home Was Just Listed For $475,000 Cash Only. But Wait Until You See The Inside. OMG

This Los Angeles Home Was Just Listed For $475,000 Cash Only. But Wait Until You See The Inside. OMG

Do you think anyone will stanch up this crappy home?

Yikes & Yukes!

This Los Angeles Home Was Just Listed For $475,000 Cash Only. But Wait Until You See The Inside. OMG

This Los Angeles Home Was Just Listed For $475,000 Cash Only. But Wait Until You See The Inside. OMG

This Los Angeles Home Was Just Listed For $475,000 Cash Only. But Wait Until You See The Inside. OMG

Do you think anyone will stanch up this crappy home?

Date Event & Source Price Appreciation

Jul 26, 2018
Sold (Public Records)

Public Records
$2,280,000 8.0%/yr

CONTACT:

Jieranai Maier Cal DRE #01785483 951-751-1796

3 beds3 baths-- sqft