Playa Vista Market Report: Summertime Heat on The Playa Vista Condo Resale Market and All About 2017-18 Mello-Roos Bond in Playa Vista

The overall inventory in the Playa Vista condo resale market remains tight, with only 13 currently active listings. Half the properties are newer listings that have been on the market for less than 30 days, while the other half of the inventory continues to linger. There are some attractive opportunities for investors and buyers among some of the listings. If you see something you like, I would be happy to speak to you about it in more detail.

One of the considerations of owning in Playa Vista is the monthly cost of carrying a home. For all properties in Phase One of Playa Vista, which includes all homes west of Dawn Creek, an annual Mello-Roos bond is added to the property tax. This bond was created to finance public improvement, such as building new roads, adding sewer and water systems, beautifying our neighborhood, and other basic infrastructure. (For all homes in Phase Two or properties east of Dawn Creek, the Mello-Roos is built into the up-front price of homes, rather than annual payments.)

For applicable homes in Playa Vista, the amount of the Mello-Roos Community Facilities District No. 4 bond is based on a complex mathematical formula, which defines what the assigned maximum special tax amount is. However, the maximum is not necessarily the actual amount charged. This added cost associated with living the coastal Playa Vista lifestyle, the shops, parks, extra perks and neighborhood events, it is so worth it to make your home here.

Since the inception of this tax, homeowners have never been charged the maximum amount, but rather, a lower actual amount. In the new fiscal tax year of 2017-18, the actual amount is approximately 67% of the allowed maximum. When compared to last year, the amount of the Special Tax rose approximately 1.5%. For a median sized home, that is around 1,700 sq. ft., the maximum Mello Roos tax is $4,478.99. However, the actual amount for the current tax year is down to $3,001.85 or roughly $250 per month.

Since property tax bills for the new fiscal year have not yet been issued, if you’re curious to find out the actual amount of the Playa Vista CFD4 for any homes in the new tax year, whether it is a home that you’re considering, or one that you own, please contact me (winnie@winnielicht.com or 310-745-7468.) I will be pleased to provide you with the exact amount.

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 will be happy to offer you information about the community, Playa Vista Elementary School and the dynamic marketplace.

Enjoy a fantastic weekend!

Winnie Licht
Broker, Realtor ®
BRE #01272501
Phone: 310-745-7468
Email: winnie@winnielicht.com
www.PlayaVistaHomeSales.com
THE PLAYA VISTA SPECIALISTS


Featured Homes

JUST LISTED – open house on Sunday, 7/23, from 2-5 p.m.!
Bridgeway Mills #3 – 5400 Playa Vista Dr. | 3 Bd + 1 Ofc Nook + 2.5 Ba + 3-car Garage
Approx. 1,920 SF 
| Total HOA for PVPAL & BWM is $690 | Offered at $1,325,000
A one-of-a-kind gem in Silicon Beach…This modernist townhouse has been completely remodeled from top to bottom. The blend of minimalistic Scandinavian aesthetics and sleek, ethereal color pallet makes this high-tech living at its finest. The owners spared no expense in re-designing this timeless modern masterpiece to include new kitchen with European cabinets, center island, extended footprint with Asko and Kitchenaid Architect series appliances and Caesarstone countertops; Two lofts transformed into separate bedrooms; all bathrooms updated with new finishes; natural white oak laminate flooring throughout; UV window film; designer light fixtures with upgraded dimmers, Nest thermostat, and Culligan water filter and softener system. All in all, this is today’s contemporary lifestyle at its very best and will surely appeal to any buyer looking for something extraordinary!

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JUST LISTED and easy to show by appointment only
6315 Para Way | 3 Bd+Den+3 Full Ba+2 Powder+3-Car Garage
Approx. 3,585 SF | Offered at $8,300 per month

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IN ESCROW!
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

1IN ESCROW!
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

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IN ESCROW!
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 & Bridgeway Mills is $690 | Offered at $1,271,000

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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

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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

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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

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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 

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