Archives For Los Angeles

When computer and software entrepreneur Eric Chu decided to replace his single Los Angeles home with two smaller houses on the same lot, he was faced with the question of how to do this without sacrificing privacy. His architect Whitney Sander came up with the unconventional suggestion of using giant graphic stickers, similar to what they use on city busses, to cover the homes’ exterior glass walls.

Sander designed two three-story houses to fit on the modest lot (150 feet deep but only 40 feet wide), a 2,200 square foot home for Chu and his girlfriend, and a slightly larger home behind for them to rent out. The homes are barely separated by a drive-in courtyard, with huge exterior walls made almost entirely of windows facing each other. Though the stickers allow them to see out from the interior, rather than staring into their neighbor’s home, all they see is a wall of beautiful leaf graphics reflected back at them.

This article can be found in its original form at NYTimes.

Photos: Trevor Tondro for The New York Times

As home values began to rebound following the foreclosure crisis, the number of multi-million dollar homes in California climbed to a record high last year. According to reports from DataQuick, there was a 47% increase (4,500) in properties sold for $2-3 million, a 31% increase in homes sold for $3-4 million, and a 29% increase in homes sold for $4-5 million.

The majority of luxury home sales occurred in 25 cities along the California coast including Manhattan Beach, La Jolla, Hillsborough, Menlo Park, and Los Gatos. California’s most expensive sale last year was an 8 bedroom, 14 bathroom beachfront mansion in Malibu for $74.5 million.

The luxury-home market “responds to its own set of economic factors,” said John Walsh, President of DataQuick. Rather than traditional factors, things like initial public offerings, stock-market performance, and investment decisions can play a greater role.

Check out some of our favorite luxury homes for sale in California (below), or visit Househappy.org to view more properties.

This article can be found in its original form on Bloomberg.

Images: Househappy.org

This Los Angeles is perfect for someone looking for the feel of downtown living in a single family home. The two bedroom, two bathroom residence has 2,137 square feet of open space with polished concrete floors and steel trusses to give it an industrial, loft-like feel. The home also features art lighting, skylights, a great room with fireplace, walk-in closets, a master bedroom, and integrated speaker system. Two-story glass doors open to the outdoor-living area with a solar heated pool, spa, and entertaining area.

655 San Juan Avenue is listed with Sparks Landon of Abbot Kinney Real Estate and is on the market for $3,200,000.

This property post can be found in its original form by clicking here, or view complete gallery below. 

Hawthorne District, Portland Oregon, via Kyle Burris

Inner-city neighborhoods are becoming more gentrified. From Echo Park in Los Angeles to Bishop Arts District in Dallas to Prospect Heights in New York, urban pioneers are turning these areas into neighborhood hot spots.

“It’s all part of this cultural shift toward living in urbanity, getting things in an urban area you can’t get in the suburbs,” says Paris Rutherford, a Dallas-based developer who works on urban revitalization projects. “And that’s obviously driving a lot of new investment all over the country.”

The hard part it seems is how exactly these homeowners and real-estate investors find a neighborhood that is becoming more livable and where home values will rise over the long term.

Characteristics have been found that help pinpoint an urban area as being gentrified. Median household incomes are rising along with a significantly faster home appreciation compared to the city average and the government is investing in local infrastructure.

Many times people will move into neighborhoods near ones that have been gentrified hoping that there is a higher probability that this one will too. This sort of “halo effect” has worked for many areas such as Logan Circle in Washington D.C. However, this type of outlook is also risky since sometimes the neighborhoods don’t end up flourishing even if they are in proximity with more prosperous areas.

Checking out the local retailers is a great way to see if the neighborhood has potential. When the stores start selling more higher-priced items, this can mean there is an increase in the household incomes of the neighborhood residents. In addition, it can be a good sign if lots of new retailers are opening stores in once vacant spaces.

Looks matter a lot, too. Older homes tend to have more character and people are attracted to their potential. “You need a neighborhood that has good bones,” says Jonathan Butler, founder of a real estate website in Brooklyn, N.Y. Renovations and construction are other positive signs that homeowners and the government are investing into the growth of the neighborhood.

Lastly, looking at the numbers and economic data will give you the straight hard facts. A neighborhood with close proximity to available jobs is guaranteed to far better than one with not enough jobs for new residents.

Source: WSJ

Did you know it is 5x more expensive to rent a one-bedroom apartment in San Francisco than it is in Cleveland?

This map from Priceonomics shows the rent prices in 50 of the most populous cities in the US. The results probably won’t surprise you:

Top 10 Most Expensive Cities to Rent 

  1. San Fransisco – $2,850
  2. New York – $2,700
  3. Washington DC – $1,900
  4. San Jose – $1,832
  5. Boston – $1,730
  6. Chicago – $1,500
  7. Miami – $1,500
  8. Seattle – $1,445
  9. Los Angeles – $1,395
  10. Oakland – $1,375

Want to know where you can get the most bang for your buck? Check out Priceonomics to see the complete results and use the interactive map.

medium_3540e62d-b09f-422d-b449-0b5069926e96Southern California is known for having beautiful homes with stunning views of the ocean. This modern home near Malibu is one that can’t be missed, situated on 5 acres with striking views of the ocean and mountains. For $3.9 million this home features 4 bedrooms, a den and 6 bathrooms in 4,788 square feet.

Originally built in 1996 the home was restored in 2012 by renowned architect David Montalba. The home features a smooth stucco exterior complete with enormous windows and doors that slide open to the outdoor space. Inside the open kitchen is ceasarstone countertops, teak, walnut and concordia velvet stone floors and all new systems. The home’s modern style is also shown in the outdoor living space with a pool, hot tub, large lawn and al fresco dining. The peace and quiet of this home will make you feel as if you are on a vacation in another country.

This property post can be found in its original form by clicking here, or view complete gallery below.