Ultimate silicon beach lifestyle awaits. Contemporary modern gourmet kitchen with quartz countertops & stainless steel appliances. Spacious open floor plan. Envious top floor penthouse with ocean views. You can see the Venice Beach Pier in the distance!!  No common walls corner unit. Luxurious master retreat with dual vanity and shower heads, tub and walk in custom closet. Office with private entrance. Spoil yourself! Steps to the sand next to the bike path bridge and Del Rey Lagoon. Spoil yourself.

Hurry this one won't last long. 6220 Pacific Ave #301, Playa Del Rey, CA 90293

3 Bedrooms/ 3 Full Baths - private office entrance. For Lease $5450/month. 

Steps from the beach,  located next to the bike and pedestrian path to Marina Del Rey.  Playa Del Rey is the local's beach town between Manhattan Beach and Santa Monica with easy access to LAX. 

Love the California coastal lifestyle. Walkability to local eats and shops.

Contact : Listing Broker Associate - Sandra Lew (310) 963-1623 or sandy@sandralew.com for more details and appointment to view.  PEAD covid guidelines followed. 

Sandra Lew - Broker Associate CalBRE# 01920376

Re/Max Estate Properties - 124 Washington Blvd, Marina Del Rey, CA 90293

 

Housing market shows first signs of trouble from pandemic

The housing market has taken a pause due to the uncertainty of the coronavirus pandemic in an ever evolving climate. Stay home lockdown orders globally have changed the face of real estate to virtual showings no more physical open houses. There are new liability release disclosure forms signed by all parties involved to view a property by appointment only. Having a realtor you trust for a real need of housing becomes even more important.  While deemed an essential service in California realtors must take precautions for all to continue assisting others with their need to find a home.

As a virtual digital agent as our physical Re/Max offices are presently closed in this technical age I'm able to continue serving others online being the local area expert in greater Los Angeles and the coast on the westside communities of Playa Del Rey, Marina Del Rey, Venice Beach, Santa Monica, Playa Vista, Culver City, and West LA. Many are on the fence to sell, buy, hold , move or lease as this pandemic is evolving.  We are all in this together. Be well. Feel free to connect sandy@sandralew.com for any questions or maybe just a link to search the MLS (multiple listing service) for an up to date idea of the market.
Sandra Lew - Re/Max Estate Properties CalBRE# 01920376- Cell 310-963-1623

April 6, 2020 Jacob Passy - MSN Marketwatch
Housing market show first sign of trouble from pandemic.
March started out as a strong month for the U.S. housing market — but by the second half of the month, the first indications that the coronavirus pandemic would weigh on homeselling activity began to emerge, according to a new report from Realtor.com.

In the weeks ending March 21 and March 28, the number of newly-listed properties fell by 13.1% and 34% respectively when compared with the same period a year ago, Realtor.com found. This is an indication that home sellers may be holding off on listing their properties right now.

The pace of home-price growth also slowed notably in the latter half of the month, according to the report. Home list prices were only up 3.3% year-over-year for the week ending March 21, and 2.5% for the following week. This represented the slowest pace of listing price growth since Realtor.com started tracking this data in 2013.

“Our inventory and listing data can provide some early insight into how housing markets may be impacted by COVID-19, but the situation and reactions to it are still rapidly evolving,” Realtor.com chief economist Danielle Hale wrote in the report.

“The U.S. housing market had a good start to the year. Despite still-limited homes for sale, buyers were buying and builders were building,” she wrote. “The pandemic and virus-fighting measures appear to be disrupting that initial momentum as both buyers and sellers adopt a more cautious posture.”

Real-estate firms have taken steps to brace for the impact of the coronavirus pandemic. So-called iBuyers including Zillow (ZG) and Redfin (RDFN) that purchase homes from sellers and then sell them for a profit had wound down their home-buying operations in anticipation of an economic downturn. Real-estate brokers, incuding Redfin and Re/Max (RMAX) , had also shifted toward virtual home tours as open houses became verboten in the wake of social-distancing recommendations.

And other recent reports have shown additional signs of a slowdown in the housing market. LendingTree (TREE) released an analysis of Google (GOOG)  search data analyzing the popularity of the search term “homes for sale” across the country’s 50 largest metro areas. Searches for “homes for sale” have fallen across all 50 cities in the study from their peak levels in 2020 thus far.

LendingTree estimated that these Google searches could drop some 63% compared with last year if the impact of the COVID-19 outbreak remains substantial for the next two months. A drop in web searches could presage a decline in home sales.

Another sign that home sales will slump this spring: Mortgage applications. The volume of mortgage applications for loans used to purchase homes was down 24% compared with a year ago for the week ending March 27, according to data from the Mortgage Bankers Association. That’s in spite of mortgage rates being near historic lows. Comparatively, the volume of refinance applications was 168% higher than a year ago.

Before the coronavirus pandemic flared up, the U.S. housing market was on relatively solid footing. While the number of homes for sale remained low — constraining sales activity to an extent — demand among buyers was still quite high. Low mortgage rates had fueled an early start to the spring home-buying season, with homes selling four days faster in March when compared with 2019 levels, Realtor.com found.

The jump in jobless claims has stoked concerns of a repeat of the Great Recession and the foreclosure crisis that preceded it. But housing economists argue that this is unlikely to be the case.
“While housing led the recession in 2008-2009, this time it may be poised to bring us out of it,” Mark Fleming, chief economist for title insurance company First American Financial Corporation (FAF) , wrote in a report this week.

Unlike in the 2000s, the housing market in the U.S. is not overbuilt, Fleming argued, making it less likely that a large swath of vacant properties will crater the home values for homeowners. Rising home values and stricter lending standards have also meant that homeowners are sitting on historically high amounts of home equity.

“The housing market will not go unscathed, as consumer confidence and a strong labor market are essential in the decision to purchase a home,” Fleming wrote. “Yet, this time, housing is a casualty of a public health crisis turned economic, not the cause of an economic crisis.”

Source: https://www.msn.com/en-us/money/realestate/housing-market-shows-first-signs-of-trouble-from-pandemic/ar-BB1250Oq

Sandy Lew's Re/Max hustle commercial - "LA Beach Broker" . Househunting fun!

Looking for a savvy marketing , well seasoned globetrotter, with the tools of a virtual agent traits based out of LA's sizzling hot Silicon Beach? She loves relocating those to share the beach lifestyle she cherishes. Just a smile away! Stop dreaming start living!

Ready to serve all your real estate goals. Silicon Beach cities and greater LA.
Questions? I'm here to help. Love to connect. Buying/Selling/Leasing/Investing.
Venice Beach/Santa Monica/West LA/Playa Vista/ Playa Del Rey/ Manhattan Beach
Relocation clients are my specialty. I love to travel so making friends along the way is so rewarding.

Sandra Lew
Associate Broker
Re/Max Estate Properties
DRE#01920376

Cell: 310-963-1623
sandy@sandralew.com

The Property Brothers Predict Gen Z Will Be Over Tiny Homes, Too

The next generation of homebuyers are smart and value quality lifestyles focused on their unique needs. This should follow technology enhanced homes designed with convenience and versatility rather than just a mcmansion with loads of wasted space. The Gen Z know what they want and are more discriminating than previous generations. This is a great housing trend and will be fun to watch unravel with new homes for the coming years.



The Property Brothers Predict Gen Z Will Be Over Tiny Homes, Too

 
 By Lisa Steelman, Nov. 13, 2018


If millennials are a confusing demographic, wait until Gen Z grows up a little bit. I've read a couple of head-scratching studies predicting their intro into the real estate market—one predicted that 83 percent of Gen Z planned to purchase a home within the next five years, and another said that the group is twice as likely to start saving for a home by age 25—even when only about 18 percent are expecting family financial assistance for the big purchase. As someone with a brother six years younger than me, I know firsthand that the kids in college right now are bound to live a very different life than I am now. But these numbers are somewhat baffling to me—considering I am 26 and still don't think I'll be able to buy a home in the next five years.

Trying to make sense of this, I turned to the only people I know who bought their first home at 18—Drew and Jonathan Scott, also known as (The Property Brothers)! I caught up with the brothers at an event at Pinterest headquarters in New York City, where they were promoting their new partnership with Chase and the group's Dream Board tool. We were discussing the foibles of millennial home financing (so-so credit scores!), when I asked them to predict what might be coming up for the up-and-coming generation.

If you're a fan of the Scotts, you probably know that the pair are not fans of the tiny living phenomenon. A night spent in a tiny home last year only solidified that for the brothers, who have critiqued how the homes are not only ill-designed but also are rarely are up to code. So imagine my surprise when they said that they think this trend will play into a large part of the Gen Z home buying experience.

While the generation won't be cramming themselves into tiny just for the sake of tiny and might be stepping away from the Airstreams and 250-square-foot trailers, they will be seeking out incredibly well-laid out, smaller spaces that force residents to live more intentionally—a direct contrast to the McMansions of their parents. This goes hand-in-hand with the Realtor.com study that found 61 percent of Gen Z are driven to homeownership because of its customization opportunities.

"It's more streamlined living instead of giant spaces filled with a bunch of stuff you don't really need," Drew said. He also pointed that as technology advances, living in a smaller space becomes easier because it can become multifunctional. So it's no wonder Gen Z digital natives are looking to test the theory out.

Additionally, the brothers predict that homeownership for Gen Z will also just look entirely different than ever before. For my generation and the ones before me, the single family home was the holy grail. But Gen Z is now more likely to look outside the box for diverse investment opportunities—vacation rentals, multifamily units, or even an accessory dwelling unit in a family member's back yard.

Drew and Jonathan also think that Gen Zers will likely team up when investing in real estate—just like they did. "We think it's great to partner with somebody to buy a home whether it's a family member, spouse, or a friend even," Jonathan said. "Be open to what opportunities arise and then make the decision."

Who knows? After speaking with the Pro Bros, partnering with my own bro seems like it may be a good homeownership option!

Source: https://www.apartmenttherapy.com/property-brothers-tiny-house-gen-z-prediction-264372

The Ballona Wetlands near the heart of Silicon beach is an ecological reserve treasure. The bordering cities are Marina Del Rey, Playa Del Rey, Culver City, Westchester and Playa Vista. This new project is personal and exciting! Finally 600 more acres of beautiful nature with easy access for bicyclists, pedestrians, and handicapped to enjoy with less impact while preserving the natural beauty. This give us a safer alternative to getting out of our cars and be able to have easy access to local communities. This state proposal creates 6 miles of new foot trails and nearly 4 miles of bike paths and will create the second largest nature habitat in the City of LA! Yay!

The Exceptional Public Access Plan for the Ballona Wetlands 

The State's Proposed Restoration creates 6 Miles of New Foot Trails and nearly 4 Miles of Bike Paths, all Accessible from Multiple Points

By David W. Kay, Patch Contributor | Sep 17, 2018 3:12 pm ET | Updated Sep 21, 2018 10:19 am ET

 

Did you know California's Ballona Wetlands Restoration Project will create the second-largest natural habitat recreational area in the City of Los Angeles, second only to Griffith Park? Indeed, it will become the "Great Park" of coastal Los Angeles, but few people are talking about this 600-acre recreational jewel.

People most intimately familiar with the Ballona Wetlands Ecological Reserve tend to focus on the wildlife benefits of the state's coming restoration project. As a member of Los Angeles' community of environmental professionals, I've often questioned supporters and peers about why they shy away from touting the public access and recreational benefits of this fantastic "undevelopment" project.

My sense from them is that many restoration advocates, particularly naturalists, view public access as a risky proposition for wildlife, if not well-regulated. In my opinion, these fears are unfounded and in fact, public access at recently completed large wetland restorations proves otherwise (1,2,3).
When completed, the proposed Ballona Wetlands Restoration Project (Link 4) will create nearly 6 miles of new pedestrian-only trails, including approximately 2,000 feet of elevated boardwalks to allow visitors to walk next to the wetlands and get close-up wildlife views. Trails would have native plants on either side where possible, and include signs and resting points with seating. The boardwalks will be specially designed to accommodate disabled persons. Just not that into wildlife? Then just come and have a picnic, read a book, or paint a canvas.

Two east-west bike paths, instead of the current single one on the north Ballona Creek levee, would connect with the Coastal bike path at the Beach – one north and one south of Ballona Creek. Also, we'll get a brand new bike and pedestrian bridge over Ballona Creek next to Lincoln Boulevard, separated from car traffic, so folks who live south of the creek will no longer have to navigate the hair-raising Lincoln Blvd. car bridge to access the bike paths. See the entire trails plan view below. Right click on the image to open in a new tab and see the details.

Fenced overlooks along paths and trails will provide views and information about the Ballona Reserve (see figure below). Overlooks would include informational and directional signage in some locations. Benches to accommodate small groups also would be included in some locations (for your picnic).

Three monument signs will be built at critical street intersections to identify the Ballona Reserve to passing vehicles, cyclists, or by pedestrians. The signs would be placed on the southwest corner of Lincoln Boulevard and Fiji Way, the northwest corner of Culver Boulevard and SR-90 off ramp, and on Culver Boulevard, north of Nicholson Street.

Five areas in the Reserve would give visitors close-up opportunities to learn more about wetlands habitat, animals, and the larger watershed system. Educational art pieces may be included as well. Sitting and picnic areas, trash receptacles and bathroom facilities will be provided at the main entrance point. Parking will be located in a few areas, but mainly where county vehicles currently park on Fiji Way. Access would only be allowed from dawn to dusk.
Since state law allows only well-regulated access to Ecological Reserves, most of the Ballona Reserve is presently not accessible except via guided tours conducted by a few non-profit organizations. This will all change with the state's project, which allows the public to freely travel a broad network of established trails and paths, but prohibits any off-trail access. Rangers on patrol will ensure folks stay on trails, keep dogs on leash and follow other rules and regulations customarily established for natural areas.

Above Photo: Public trail at the Malibu Lagoon Restoration Project.
Scores of coastal wetlands have already been restored in California, pursuant to the Coastal Act and funded by bond measures repeatedly approved by voters. At most of these sites, well-regulated trails and paths replaced old "social trails" which the public had worn into the landscape in a helter-skelter fashion.

Above Photo: Unregulated "helter-skelter" social trails in the Ballona Reserve, Near Via Marina.
Many studies showed these social trails potentially impacted wildlife, but the impacts were eliminated once fenced, signed and properly maintained trails were provided as replacements. Even absent ranger patrols, people tended to police each other in wildlife areas, studies show. During sensitive breeding periods, some trails are temporarily detoured to protect wildlife at critical times. This will be the case at Ballona as well.

Above Photo: Elevated boardwalk at the San Dieguito Wetlands Restoration, near Del Mar.
If you look forward to the recreational benefits of the Ballona Project, it's important to let your elected representatives know. Don't let a vocal minority speak for you! Send an e-mail to L.A. City Councilman Mike Bonin at mike.bonin@lacity.org, and tell Mike you "support approval of the state's plan to restore Ballona to a full tidal wetland, including proposed public access." Councilman Bonin will represent our interests on the state's proposed restoration plan.
Look forward to packing the kids or dogs in the car on a Sunday morning and having a nice picnic walk at the "Great Park." Enjoy your Ballona Wetlands!

Source: https://patch.com/california/venice/exceptional-public-access-plan-ballona-wetlands

 

POCKET LISTING ALERT - New off market deal in Marina Del Rey luxury living by the beach

My hot new "Pocket Listing" off market luxury condo for sale.
Offered at $1,500,000. 2 master suites + 2 1/2 baths.
Approx. 1420 sqft. Luxury designer condo. View by appt.
3111 Via Dolce, #505, Marina Del Rey, CA 90292

5th Floor Location: Ultimate stunning designer sought after Latitude 33 Sky Edition offers the urban beach lifestyle with full conceirge. Ocean breezes situated next to the historic Venice Canals and walking distance from Venice Pier & beach, the trendy Abbot Kinney shopping & dining, and nightlife of Marina Del Rey/Venice. Located in the heart of LA's Silicon Beach scene. South facing with wall to ceiling windows boasting city and obstructed ocean views complete this home. Loads of natural light floods the open floor plan. Impressive chef's kitchen is complete with a Sub Zero frig & Wolf appliances for coastal living pampering that pleases the most discerning tastes. Gorgeous hardwood floors. The luxurious master suite features a walk in closet fit for a shopaholic. Guest ensuite features large walk in shower. Bonus area for dining or den. Inside laundry area with storage room. Fitness center onsite included in HOA.

Contact me for more details.
Sandra Lew
CalBRE# 01920376
sandy@sandralew.com
Cell: 310-963-1623

A decade after the housing crisis, a new story emerges

Interesting to keep up with the housing market a decade after the housing bust back in 2008. Ten years later has it recovered? Are we in a bubble again? States like CA have recovered with Northern California's Silicon Valley leading the pack with a 74% increase over the previous real estate bubble. Location matters most when buying real estate. Urban areas with sustainable economies fair the best in the long run. According to Trulia there was a 53% gain in 100 of the largest metropolitan areas. In contrast rural areas continue to stagnate at only a 28% gain. Silicon Valley and Denver had the largest gains. Las Vegas, Chicago and Orlando are still 14-16% below their levels before the pre-crisis financial bust. Population growth increases with robust job opportunities for urban centers in contrast to declining rural areas which are seeing migrations and stagnate growth. This is true also in Silicon Beach area's Playa Vista the tech hub center of Los Angeles fueling a higher demand along with rising housing prices. The housing market is doing well in our golden state of California.

I'm a real estate broker associate with Re/Max Estate properties based out of Marina Del Rey/Venice Beach the epic center of LA's silicon beach and loving serving the community with all their real estate needs. Feel free to connect with me with any questions. Thinking about buying or selling in the area? I'm here to assist as I cherish the beach lifestyle. Relocating so many to the area is so rewarding.

Sandra Lew  -CalBRE # 01920376
Sandy@SandraLew.com
Cell: 310-963-1623
Broker Associate
Re/Max Estate Properties
124 Washington Blvd.
Marina Del Rey, CA 90292



CBS News by Rachael Layne



As many as 10 million Americans are believed to have lost their homes because of the financial crisis that erupted a decade ago, according to the St. Louis Federal Reserve. The crisis wiped out almost $8 trillion in household stock-related wealth and $6 trillion in home value after banks, mortgage lenders and financial companies provided loans to speculators, house flippers and people who couldn't afford to pay, spinning the economy into the worst financial disaster since the Great Depression.A decade later, how does the U.S. housing market look?

Homeownership is below pre-crisis levels
At the end of June, roughly 64 percent of homes were owner-occupied, according to statistics from the St. Louis Fed. That's below the historic highs of 2004, four years before the bankruptcy of Lehman Brothers, widely used to mark the acceleration of the crisis.   The current homeownership rate represents a slight increase from the 2016 low of 63 percent. The gain may signal that Wall Street is trading more mortgages as the Federal Reserve raises interest rates and lawmakers ease some of the post-crisis regulations on banks.

Fewer young adults and minorities own homes
Between 2004 and 2016, overall homeownership rates plummeted 8 percent, according to a study from the Pew Research Center. Demographics also changed.
Younger Americans felt the impact more than older homeowners. For adults between 25 to 44, the homeownership rate dropped 16 percent. And for adults younger than 35, the rate plunged 18 percent.

A decade later, it's clear the crisis delayed a traditional marker for adulthood -- homeownership -- for a greater number of young people.

"The typical household head is older now – age 51 today vs. 45 in 1994," the researchers wrote. "Older households tend to be more likely to own their homes than younger households, and thus today's homeownership rate is being propped up, in part, by an aging America." The crash is still being felt more keenly by non-white groups as well. Black households, for instance, also now own homes at a rate that's 16 percent lower, at 41 percent. That compared with ownership of white households at 72 percent, just a 5 percent slip in the same time period, according to the Pew study.
Prices are up, but are rising even faster in cities

If you live in a city, chances are real estate is now more expensive than in rural areas. Migration to cities is helping to drive the increase, according to a recent study from real estate website Trulia.

In the five years ending mid-2018, home values in the 100 biggest metropolitan areas rose 53 percent, according to Trulia. That's double the gain in rural areas, where property values rose 28 percent, the study found. The difference "between some of the largest metro areas and rural America is especially stark—many metros have seen robust growth in jobs and home prices, while many rural areas have stagnated," wrote Felipe Chacón, a housing economist for Trulia, in the report. "This divergence has boosted demand for housing in the nation's cities, fueling rapid rises in home prices.

A population shift to those urban areas is contributing 
From 2012 to 2017, the U.S. population grew 3.7 percent. But in the 100 biggest metro areas, it expanded 4.8 percent. In rural areas, the population dipped 1 percent, the Trulia study found. Even among the urban areas, some cities are far more expensive than others. In Silicon Valley, the area around San Jose, California, the current median home is worth $1.29 million, statistics released this week by real estate search company Zillow showed. That's 74 percent higher than the top of the real estate bubble and more than double from its post-crisis low.  Denver was next on the list of increases, with a value of $397,800. That represents a 66 percent rise.

Contrast that with Las Vegas, where values are still 16 percent below their pre-financial crisis level. Orlando and Chicago homes remain almost 14 percent below their pre-crisis values, according to Zillow.

Rising interest rates are also helping tap the breaks 
The Federal Reserve has already raised interest rates twice this year, and is expected to hike them twice more to keep the economy -- and the housing market -- from overheating. "While housing affordability is still running above longer-term historical levels, rising prices and interest rates have taken some steam out of demand," Deutsche Bank economists wrote in an August note looking at the housing market.


Source: https://www.msn.com/en-us/money/markets/a-decade-after-the-housing-crash-a-new-story-emerges/ar-BBNmvzr?li=BBnbfcL