Brentwood Home for “Modern Family” Dad

Brentwood Home for “Modern Family” Dad

Ed O’Neill of “Modern Family” recently purchased a home in Brentwood from cinematographer Robert Richardson for $3.05 million.  O’Neill best known for his starring role on “Married With Children” has played the role of Jay Pritchett on “Modern Family” since 2009. The ranch-style home was designed by Cliff May as an experiment in 1953 with an open floor plan with walls enclosing only two bathrooms.  Long drapes and rolling cabinets defining the other rooms. The home was later restored by Marmol Radziner and has walls of glass, a 23-foot skylight, and two bedrooms with vaulted ceilings and walnut cabinetry. The area now known as Brentwood was originally part of the Rancho San Vicente y Santa Monica, a Spanish land grant sold off in pieces by the Sepulveda family after the Mexican American War.  Originally planted with soybeans and avocados, Brentwood is now one of the wealthiest neighborhoods in Los Angeles and has prosperous commercial districts along each of its major thoroughfares – Wilshire, San Vicente and Sunset Boulevard. With nearby borders that include Santa Monica, Pacific Palisades, Westwood, and West Los Angeles, Brentwood is a short drive to the ocean, and urban areas for convenient shopping, entertainment, recreation as well as a number of public and private schools for all...

Picking An Agent To Sell Your Home

There are many agents. Many have a lot of experience and are very busy, but you may not get as much of their time and guidance as you may hope. Many have less experience, but may dedicate and focus themselves to your listing alone. What’s most important is to pick the best agent for you. They should understand how a home should be marketed – how your home needs to be photographed, how it should appear, where it should appear and do they have access to funds to give it its proper due. The right agent can guide you through each of these elements with ease and understands exactly what buyers are expecting. Who will you trust with the keys to your home….it’s an important thing to think...

New Building Trends – Where do you fit?

As the number of large development projects of new-homes decline, particularly in the planned community sector, builders and developers are rethinking their design strategies.  Some of the large developers are selling smaller chunks of their land to developers for smaller building projects.  Some of these developers are selling acquired land in smaller segments to builders who are now designing homes to fit life cycles well as  life styles of people. Young couples working at home may be looking for financially conservative homes with wireless connections verses more luxurious starter homes.  Many young adults are choosing energy efficient live/work loft spaces in urban environments close to restaurants, entertainment and community services. Empty nesters looking to downsize from large homes are in search of smaller homes with open floorplans and high ceilings as a trade-off for size.  Newer homes built with 2 master suites conceiveably can accommodate either a pair of home buying roommates, single parents with children, or generational families choosing to live together. Aging adults preferring alternatives to traditional assisted living communities have some developers drafting designs for new age living for those 65+.  The idea is to capture a non-hospital style setting for a future population of senior citizens that are vibrant and want to live in surroundings that reflect their zest for living. In today’s market, with our ever changing society, exposure to our melting pot culture, and lifestyle trends, the “one size fits all ” model does not apply.  So perhaps before you consider your first, or next home purchase, you may finding yourself asking, “What is the best home environment to fit my lifestyle?”  And...

REAL Q&A – Selling Versus Leasing Your Property – What Makes More Sense?

Do you have to move? Do you have a home to sell? Do you know that you won’t get the price you bought it for so you are considering leasing to wait out the market? While the market may not be ideal for getting the price you hope for, who knows what the future will be. Two years, probably won’t change the market that dramatically – 10 is a different story.  But, if priced correctly and put on the market, your property will probably sell quickly and it needn’t be a further consideration in your life. If you lease, will the rental market bare a price that allows you to cover your mortgage? And if so, you still need to think about taxes, maintenance and maybe, HOAs. Again, what makes sense for you today and in the long...

Part Two – Is Now a Good Time for YOU to Buy a Home?

In today’s uncertain market, a number of people are wondering if now is a good time to buy?  They asked if the market has bottomed out?  Will interest rates begin to rise?  But, the real question that should be asked and answered, “Is now a good time for YOU to buy a home?” For seasoned investors with deep pockets who can afford to invest in short-term property that can be flipped in realty-show times of 31 days, the answer is yes.  For those who qualify and find their future home in a community that meets most of their needs, the answer should also be yes.  Why? –  Right now money is cheap, but interest rates are beginning to rise, gradually reducing a buyer’s purchase power –  Beginning October 1, conforming loans currently up to $729,750 will be reduced to $625,500 maximum. –  The federal government is proposing new mortgage finance rules under which only those who can afford a minimum of 20% down payment on a conventional loan will get a shot at the best interest rates and terms.  This may not take effect until mid-2012, but that’s just around the corner. –  If you wait until new regulations under the proposed QRM (Qualified Residential Mortgage) require that consumers spend no more than 28% of their gross monthly income on housing-related expenses, will you qualify? For many consumers, there are probably a number of questions that can give rise to pause before making a substantial purchase for a home.  Those questions should all certainly be asked and answered.  But the one question you probably don’t want to ask too...

REAL Q&A – Is NOW REALLY The Time To Buy?

It’s a buyer’s market out there…interest rates will never be this low again and prices have dropped 30-50%. So could there be a better time to buy? Doesn’t seem like it. But really, the answer is ….it all depends on you. No one knows what the future will be – everyone can only work from today – so if you’re not ready now, it doesn’t matter how good a time it is; if you are, and your ready and qualified, then now’s probably a good time to take the plunge. It can be that...

Luxury Project at 8500 Burton Way

Mall magnate Rick Caruso is set to begin construction on a $60 million luxury apartment and retail development on Burton Way at La Cienega.  While this project will be smaller than Caruso’s Grove, or Americana in Glendale, this new development will hosts 88 apartments accompanied by retail space. According to Caruso, “the timing is right to start an apartment and retail complex,” as he expressed confidence that the market will be even stronger by the time the complex is completed in the fall of 2012.  Anticipating an appeal to young affluent professionals, rents are anticipated to range between $3,500-$7,000 a month. The project is called 8500 for its address at 8500 Burton Way, and will be built on a site that was formerly the home to the Smith Bros. Fish...