Marina Del Rey Real Estate

The Farmer's Market in Los Angeles, has been evolving, changing  and reinventig itself over the past seventy five years (75). Millions of people, who have visited this favorite tourist destination consisted of the   the famous, the infamous as well as the ordinary people who have come and gone, they all have left with many fond memories. In the past 17 years one of the most favorite destination places has been "Light My Fire". 6333 W 3^rd St Ste 212, Los Angeles, CA  90036. (323)930-2484

This small cubicle of a place holds at least a thousand if not more, different hot sauces from all around the globe. Some have been named after Celebrities, Politicians or just different Titles which conjure up various levels of heat in the potential buyer.

There are connoisseurs of ‘heat' who come here to buy a hot sauce, which they are unable to buy anywhere else. Then you get the novelty collectors that just want to have a specific bottle not for consumption, rather just for display in their kitchens. Then there are the friends and family who want to buy a novelty present for their loved ones.

Even the ones who wonder in accidentally can not help themselves and buy on impulse.

Young Min and her husband opened this little Stall in 1998 in the Farmers Market. As I mentioned, the selections are phenomenal. The hot sauce bottles are stacked floor to ceiling. There is a bottle for every one, as well as every one's budget. The cost conscious can buy a hot sauce for $0.99 as well as the affluent to which money is more abundant there are bottles of hot sauce all the way to $500.00.

Make sure  to put this worth while destination on your things to do list for your next trip to the Grove and specifically the Farmer's Market.

If you are a consumer  who is considering buying  or selling  a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Culver City, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 (USA) or email me at EndreBarath@TheMLS.Com  or visit one of my websites at http://www.endrebarath.com  

I have just listed another View Lot above the Sunset Strip.

 Before I go into the details of my new listing. I want to share with you, that a week ago I closed on one Lot three parcells away from this one. The Land Sales have been slowed due to the downturn of the RE Market and the Economy. I am starting to see life in both. Particularly when Land starts to sell, it  is a sign of confidence returning to the market. Just as an FYI two months ago four parcells sold about five hundred yards from these lots.

Add'l Photos

Larger Map   Aerial Map   Plat Map

This Lot  has a head on Views of Downtown Los Angeles as well as Views of Century City and distant ocean views. The lot next door is on the market as well for $289,000. Please contact me for additional information. Build one or build two multimillion dollar homes north of the world famous Sunset Strip. Very desirable location west of Queens Road.

 If you are a consumer  who is considering buying  or selling  a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Culver City, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 (USA) or email me at EndreBarath@TheMLS.Com  or visit one of my websites at http://www.endrebarath.com  

Since Real Estate has picked up, I have been so busy that I did not have time to take a stroll by the beach. Yesterday I decided to take a walk. I was amazed at the number of people by the Channel, did not think much of it and I continued on my stroll. Then I saw two News Media vehicles, now my curiosity was peaked. What is going on?

 Had a watched the news for the past few days, I would have discovered that since last Friday we had a 20-foot-long California gray whale in our channel. Evidently the whale would go out eat and return to the channel. How exciting is that, needless to say I did not have a camera with me, no need anyway, the whale has not been seen since 08:30am according to the ones in the know.

 So I came home disappointed and turned on the news, sure enough the News Media gave her a name: Nichole. So armed with this information I went to bed and forgot all about Nichole.

 Now I want you to know that all the news channels are carrying this news. So now I had to go on the internet and sure enough there is an article in the Los Angeles Times where they interview Peter Wallerstein, (Founder of Marine Animal Rescue) and he indicated that the gray whales migrate south to the warmer water off Baja California. They come from Alaska and this takes place from February to May.

 Evidently we have a sightseer that wanted to stop in Marina Del Rey and liked our Channel.

(photo  by Anne Cusack/Los Angeles Times)

 If you are a consumer  who is considering buying  or selling  a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Culver City, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 (USA) or email me at EndreBarath@TheMLS.Com  or visit one of my websites at http://www.endrebarath.com  

As I indicated in my other Market Reports, I have noticed a large increase in Activity, from traffic at Open Houses to Offers being written. There seemed to be activity of the caliber, what we were used to as Realtors in previous years. I am referring to the 2001 to 2002 timeline. When buyers were looking for "good deals" and writing offers on properties that seem to be listed 15-20% below market.

 The Active Condominium listings have dropped from the month before to 184 for the snapshot of May 31, 2009. The least expensive listing is a one bed room one bath Condominium in the Marina City Club at a list price of $329,900.00. The most expensive listing is located on Ocean Front and the asking price is $5,400,000.00 this is a four bedroom four and a half bath home waiting for a discriminating buyer who wants to live in the Marina and price is not an issue.

 There are 23 properties that are accepting Backup Offers, where the buyers have not removed their contingencies. In addition there are 21 properties that are Pending. So basically there are 45 properties in Escrow.

 The Sold statistic is quite impressive as well. For the month of May there were 18 Condominiums that closed in Marina Del Rey, CA. I have indicated that the buyers are stepping into the RE Market, because of the historically low interest rates, as well as they want to take advantage of the Tax incentives offered by the Federal Government as well as the State of California. In addition the buyers realize this period of uncertainty will not last, hence they want to take advantage of the buyers market.

 If you are a consumer  who is considering buying  or selling  a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Culver City, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 (USA) or email me at EndreBarath@TheMLS.Com  or visit one of my websites at http://www.endrebarath.com  

For those of my readers who are not familiar with Playa Vista, CA, please visit my blog post of earlier (http://activerain.com/blogsview/775995/playa-vista-ca-parks-part-1), This is one of newest planed development in Los Angeles, CA in the past fifty years. Well designed, lots of thought went into the planning and the result a "resounding success".

  What is Playa Vista? By definition it is a mixed development of Luxury Condominiums, Luxury Town homes, Luxury Rentals an affluent blend of young, successful and hip residents.  It is a mini city within Los Angeles, less then two miles from the Ocean. This development took twenty years in the making, some of the challenges: Coastal Commission, Nature Preservation Activists, Wetland issues...you get the picture. 

Currently there are 50 Active Listings from a low of $355,000.00 for a one bedroom one bath condominium and a high of $1,119,191.00 for a three bedroom two and a half bath.

 Pending home sales increase for the third consecutive month. 13 Accepting Backup Offers and 12 are solidly Pending, for a total of 25 units. This is a direct result of the record low mortgage interest rates as well as some benefit now from the first-time buyer tax credit.

 We only had 2 Sold units. This is  a very interesting number, since there are numerous Units inside the Playa Vista Community that sold directly from the developers; hence the Re-sale Units are competing with the Developers who are offering incentives unheard before.It also shows that Lenders are taking longer to provide loans. Last month there were 7 Pending units, hence five actually did not close.We will see next month there will be obviously more then five sales.

If you are a consumer  who is considering buying  or selling  a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Culver City, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 (USA) or email me at EndreBarath@TheMLS.Com  or visit one of my websites at http://www.endrebarath.com  

Here we are the month of May just flown by for me. Even though there were thirty one days in the month I could have used a few extra. The activity has picked up not just for other Realtors, but for me as well. I have been fielding calls, showing properties, and writing offers and found my self in multiple offer situations more then five times this month. I am confident, based on my activities that the numbers will be better compared to the previous month. 

Now let us look at the actual Condominium Activities for the month of May in Century City, CA.

 As of 5/31/2009 there were 315 Condominiums on the Market within a broad range of prices. Least expensive Condominium for sale was listed at:                              

•1.      A Single for $275,000.00 (this reminds me of 2001 when the last time I remember a Condominium in Century City starting with a list price in the 2's.

•2.      A One Bedroom for $349,000.00 ( again the year 2001 keeps coming back to me) 

The most expensive Condominium has a list price of $15,250,000.00 this property went up in stature only because the other three higher priced Condominiums are In Escrow already.           

•1.      a Penthouse Unit  listed at $27,000,000.00 is in Escrow

•2.      another Penthouse Unit listed at $24,500,000.00 is also in Escrow

Hence the above mentioned takes the pole position, if you were wondering I have written  about this Luxury Condominium Complex before.( http://activerain.com/blogsview/795366/do-you-think-the-real-estate-market-is-bad-look-at-the-century-in-century-city-ca-  ) The complex is still unfinished and the prime units are quietly going into escrow, without much fanfare from the media, unlike the first one. 

Now let us look at the statistics for Accepting Back Up Offers and Pending: 

There are currently 38 Condominiums where the buyers have not removed their contingencies yet. 

There are 54 Condominiums where on the other hand the buyers have removed their contingencies. 

I am still yet to hear from the Media what I have been saying since November 2008. The activity has been increasing month over month as well as the Sales.

 So with that let me introduce to you the Sold Statistics for the months of May 2009 were: 

27 Condominiums that Sold. 

I find these numbers quite impressive, especially where we were in the beginning of the year from an activity stand point and where we are now. Please visit my previous month's statistics and see for yourself. I have been telling anyone who was willing to hear me out, next year(2010) you will be coming to me and will tell me ‘...yes you were right I should have bought in 2009 when it was at the bottom...' by the way it is not too late.

 If you are a consumer  who is considering buying  or selling  a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Culver City, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 (USA) or email me at EndreBarath@TheMLS.Com  or visit one of my websites at http://www.endrebarath.com