Hancock Park Hi-End Sales Set Records

In the 1st 60 days of 2017,  7 homes have Sold in Hancock Park over 5 million. Never Before have we seen such numbers.  In 2016 none had sold over 5 million in that period.

1)165 S Hudson Ave – $9,500,000 Sold
2)435 S Plymouth Bl – $8,450,000 Sold
3)555 S Muirfield Rd – $7,880,000 Sold
4)251 S Windsor Bl – $6,950,000 Sold
5)370 N June St – $8,225,000 Sold
6)501 S Rossmore – $5,207,500
7)121 N June St – $5,310,000

Listed by & photos by 1.John Duerler Hancock Homes Realty 2.Alex Brunkhorst, Billy Rose & Blair Chang The Agency 3.Jon Grauman The Agency 4.Amy Davis Teles Properties 5.Tim Enright Enright Co. 6) Brenda Chandler Cooke Hilton & Hyland 7)Meg Ostrow
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LA’s 1st Q Median Home Sales 2017 vs 2016 are Up

Hancock Park is up 16%. Per THE MLS the Top 4 areas showing Median Sales Increases for 1st Q 2017 over 1st Q 2016 are: Brentwood, Beverly Hills, Cheviot Hills and Topanga.

 

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Hancock Park Luxury Home Developer Robert Quigg Declares Bankruptcy

In what can only be considered as disastrous news for all involved, Hancock Park’s Major Luxury Home Developer Robert Quigg, who was in the process of restoring or newly building eight major Luxury Properties in Hancock Park, declared Bankruptcy on November 30. His properties included the following: (2 properties had already been sold so they were not included in the bankruptcy). The remaining had yet to be marketed with the exception of 347 S Arden Blvd that was marketed for some months earlier this year.

16-139252_12c085fa-2db3-4832-8ecb-c0166421c28f73 Fremont Place Sold for $6,600,000 on 8/23/2016. Tiny Huang of Quigg Realty represented both Quigg and the Buyer.
The home was 6300 Sq. Ft. on a 15,459 Sq. Ft. lot. Quigg purchased the home in 2014 for $3,150,000. He redid the home and added approx. 1700 Sq ft.

16-133552_a42dcec0-0d72-44a8-86aa-84c5c03c86ab
434 S Windsor Blvd Sold for $11,300,000 on 10/20/2016. Tiny Huang of Quigg Realty represented the Seller. The home was 10,600 Sq. Ft. on a 18,017 Sq. Ft. lot. Quigg purchased the home in July of 2014 for $4,120,000. He redid the home  and added 4300+ Sq. Ft.

 

347 S Arden Blvd

317 S Windsor Blvd

147 S Plymouth Blvd

344 S Rimpau Blvd

428 S June Street

366 S Hudson Avenue

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9 Hancock Park Homes Sold $1000+ per Sq Ft in 2016

Address                       Sq Ft/Lot Size/Selling Price/Cost per Sq Ft*

434 S Windsor Blvd      10600/18,017/$11,300,000/$1,066
234 S Muirfield Rd          6187/18,930/$6,990,000/$1,179
355 S Rimpau Blvd         6508/23196/$6,950,000/$1,144
226 S Rimpau Blvd         6127/15,702/$6,850,000/$1,118
73 Fremont Place            6300/15,459/$6,600,000/$1,047
224 S Muirfield Rd         5096/19,541/$6,500,000/$1,281
363 S Las Palmas Ave    5004/19,538/$5,900,000/$1,179
420 S Rossmore Ave      4876/19,001/$5,350,000/$1,097
254 S Windsor Blvd        3669/12,639/$4,000,000/$1,090

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Homeowners are Becoming Equity Rich. In Los Angeles the rate is 38.2%

CAR* Reports Home Ownership Tenure Hits Record High
Many homeowners are becoming equity rich because they’re staying in their homes longer, according to the Q3 2016 U.S. Home Equity and Underwater report from ATTOM Data Solutions, a fused property database. To be equity rich, homeowners must have a loan-to-value ratio of at least 50 percent.

In fact, 23.4 percent of all homeowners with a mortgage are now considered equity rich, an increase of 2.6 million from last year to 13 million in the third quarter, according to the report.

The metropolitan statistical area with the highest share of equity rich homeowners, out of 88 areas with a population of 500,000 or more, is San Jose with 55.7 percent. Honolulu came in second with 39.3 percent, followed by Los Angeles with 38.2 percent and Pittsburgh with 34.5 percent.

Hot or not? The housing market has people holding their breath.

* California Assn. of Realtors

 

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The Craft & Folk Art Museum has Holiday Marketplace Saturday November 26

craft

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Just Sold: 650 Wilcox Avenue Townhouse by Linda Hindley $1,005,000. Highest Price Ever in Complex !

654Wilcox-001650Wilcox-012650Wilcox-023650Wilcox-007650Wilcox-0031702 Sq ft. 3 Bedroom 3 Bath Townhouse650Wilcox-009

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Coldwell Banker’s Luxury Market Report Spring 2016

LMR-Cover-SPRING_16_2.3NFFinal1-360x438Real Estate News Archives – Previews Inside Out

Want to find out the current state of the high-end residential real estate sector and what’s impacting buying trends in major luxury epicenters? The latest Luxury Market Report published by the Coldwell Banker Previews International® program answers this question by tracking market activity in top luxury cities across the United States and abroad.

Download Here

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