Welcome to December 1st, the beginning of the most festive month of the year! I hope everyone had a wonderful Thanksgiving.
As expected, there was very little activity in the marketplace over the past week. Coupled with only three active listings in the Playa Vista condo resale market and four brand new single-family homes listed on the MLS, the extremely low inventory is one of the main causes of this level of sedentariness.
Moving parallel, there appears to be a similar indecisive sentiment as the country is waiting to see if the President’s new tax plan will pass. One of the key elements affecting home-ownership is the proposed cut in the amount of the home mortgage interest deduction from $1.1 million to $500,000 that taxpayers can deduct, effectively reducing their taxable income. This popular homeownership incentive will definitely affect people living in high-cost housing markets, such as Los Angeles Metropolitan. The bill, if passed, will apply to new home purchases and make it so that homeowners can only deduct interest payments on up to $500,000 worth of home loans. The bill would also eliminate deductions for mortgages on second homes. Those changes would only apply to future homeowners, not existing ones. For some, the tax bill, if passed, will be a welcome decision, while those looking to make purchase with much higher mortgages will lose out.
For more information about any of the new homes or other properties featured in this newsletter or this week’s open house schedule, please feel free to contact me. I am happy to offer you additional information about the community, Playa Vista Elementary School and the dynamic marketplace.
Have an extraordinary weekend!
Broker, Realtor ®
Palm Realty Boutique
THE PLAYA VISTA SPECIALISTS
IN ESCROW in just one week!
Carabela #309 – 12975 Agustin Place #309 | 3 Bd + 2.5 Ba + 2 Balconies + 2 Side-by-Side
Approx. 1962 Sq. Ft. | Total HOA for PVPAL & Carabela is $731 | Offered at $1,195,600
IN ESCROW in just one week!
Tempo #442 – 6020 Seabluff Dr | 2 Bd + 2 Ba + Balcony + 2 Non-Tandem Parking Spaces
Approx. 910 SF | Total HOA for PVPAL & Tempo is $556 | Offered at $755,500
JUST SOLD FOR $15,000 OVER ASKING!
Coronado #408 – 7100 Playa Vista Drive | 2 Bd + Ofc + Loft + 3 Ba + Tandem Parking
Approx. 1,892 SF | Total HOA for PVPAL & Coronado is $688 | Offered at $1,145,000
JUST SOLD FOR $70,000 OVER ASKING! HIGHEST PRICED PLAN 3 IN ESPLANADE!
Esplanade #404 – 13080 Pacific Promenade | 2 Bd + 2 Ba + Storage + Side-by-Side Parking
Approx. 1,355 SF | Total HOA for PVPAL & Esplanade is $547 | Offered at $895,000
JUST SOLD FOR $25,000 OVER ASKING!
13077 Bluff Creek Drive in Icon | 4 Bd + 2 Ofc + 3 Full Ba + 2 Powder + 2 Balconies
Approx. 3,860 SF | Total HOA for PVPAL & Icon is $481 | Offered at $2,360,000
JUST SOLD FOR $13,000 OVER ASKING!
The Lofts #213 – 13020 Pacific Promenade | 2 Bd + 2 Ba + Large Balcony
Approx. 1,090 SF | Total HOA for PVPAL & The Lofts is $670 | Offered at $812,000
SOLD AS THE HIGHEST PRICED PLAN 3 IN BRIDGEWAY MILLS AT THE TIME!
Bridgeway Mills #19 – 5400 Playa Vista Dr. | 2 Bd + Loft +2.5 Ba + 3 Patios + 3-car garage Approx. 2,050 SF | Total HOA for PVPAL & BWM is $690 | Sold at $1,240,000
6315 Para Way | 3 Bd+Den+3 Full Ba+2 Powder+3-Car Garage
Approx. 3,585 SF | Offered at $8,300 per month
IN ESCROW IN JUST 1 WEEK AND SOLD FOR $35,000 ABOVE ASKING!
Serenade #128 – 13031 VIllosa Place #128 | 2 Bd + Office +2.5 Ba + 2 Patios + Storage cage
Approx. 2,020 SF | Total HOA for PVPAL & Serenade is $759 | Sold at $1,225,000
IN ESCROW WITHIN 3 DAYS AFTER DEBUTING & SOLD AT ASKING!
Tapestry II #3 – 6020 Celedon Creek | 3 Bd + Large Room of Garage + 2.5 Ba + 2-car garage Approx. 2,140 SF | Total HOA for PVPAL & Tapestry II is $630 | Sold at $1,376,500
SOLD FOR $123,000 OVER ASKING AND CLOSED IN 21 DAYS!
Esplanade #309 – 13080 Pacific Promenade | 2 Bd + Office + Alcove + 2.5 Ba + 2 Balconies Approx. 1,653 SF | Total HOA for PVPAL & Esplanade is $572 | Sold at $1,108,000
SOLD FOR $20,000+ OVER ASKING IN 1 WEEK!
Carabela #336 – 12975 Agustin Pl | 2 Bd + 2.5 Ba + Patio | Approx. 1,640 SF
Total HOA for PVPAL & Carabela is $650 | Sold at $950,00