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From Influx to Pause

From Influx to Pause

05/3/21 Rebecca Davis

The property market in Venice has changed. Once a working-class community that experienced an extraordinary run-up in prices from 2012 through 2019, is taking a pause. From 2012 to 2019, prices grew by an average of about 17% a year, vastly outpacing price growth in the rest of Los Angeles, according to an analysis. Those trends reversed this past July when price growth across Los Angeles began to outpace price growth in Venice. Throughout the pandemic, while home prices rose in neighborhoods such as Brentwood, Pacific Palisades and the beaches of Malibu, homes over $3 million in Venice have become a tougher sell.Price paid per square foot for a single-family home in Venice dropped by 5.7% in 2020. By contrast, per-square-foot prices for single-family homes in upscale parts of the Greater Los Angeles area showed an increase of 3.2%.So what's leading the change? Depending on whom you ask, many will say homelessness is a huge contributing factor. In 2020, Venice, a neighborhood of just over 3 square miles, was host to 1,981 homeless people, up 57% from 2019. The homeless population in Los Angeles County rose by 12.7% during the same period, according to data from the Los Angeles Homeless Services Authority. Mike Bonin, the 11th-district council member who serves the Venice area, said homelessness is increasing across Los Angeles and consequently is also growing in Venice. “Another reason is there is open space on the beach to sleep,” he said. So what's the perception of the future of Venice? Well, it's still quite bright. Venice will be a place where you can find an incredible property for far less than other sub-areas of Los Angeles. We still love this area, and know there are many who agree. Click here to read the full article and contact our team to learn more about market updates within Venice and the surrounding areas. 

Reevaluating Home & Making a Move

Reevaluating Home & Making a Move

08/14/20 Rebecca Davis

​​​​​​​While economic downturns typically aren’t good news for the real estate market, this is the first in American history to result in more people moving. This opportunity is transformative because unlike past cataclysmic events that have limited mobility, this one has increased it. Everyone is taking this time to reevaluate what they need in a home and in a community and for many, that’s resulting in a desire to move.So whether folks are in between selling and buying a home (or vice versa) or exploring a new rental opportunity, below are the most sought after home features in the market right now in Los Angeles and beyond.​​​​​​​Home OfficeThis one doesn't come as much of a surprise. More and more individuals are working from home, and feel the need to have a private office space to take Zoom calls and have a little quiet time to focus. Below is a lease opportunity in Venice that offers a spacious home office or could also function as a classroom.​​​​​​​This recent article in the New York Times features some beautifully designed home office sheds perfect for retreating and getting some work done.⁠ ​​​​​​​​​​​​​​Larger YardStay at home orders? Not a problem when you have a spacious back yard to roam around in. Outdoor space is no longer taken for granted with public spaces being limited. ​​​​​​​​​​​​​​​​​​​​​Family SpaceOverall, folks are looking for more room. Family space is essential, especially when you're only seeing each other for extended amounts of time. A space to socialize and bond as a family is so important to what makes a house a home. ​​​​​​​​​​​​​​​​​​​​​Private SpaceJust as important as family space, we believe private space is equally essential; space to read, exercise, a private bathroom with a bathtub, or just a place to dwell and breathe to maintain your sanity.​​​​​​​​​​​​​​​​​​​​​All photos are from our most recent lease opportunity in the highly desirable Venice neighborhood featuring a serene architectural garden and both an independent 550 sq. ft. work studio and an accessory dwelling unit, each with their own kitchenette and bathroom (1070 Amoroso Pl, Venice, CA 90291).To learn more about this property click here or contact Claire Burns at Compass. ​​​​​​​​​​​​​​

Silverscreen to Silverstream: The Renaissance of Culver City

Silverscreen to Silverstream: The Renaissance of Culver City

03/11/20 Rebecca Davis

Culver City today is in the midst of a renaissance. The century old city, founded by real estate developer and philanthropist Harry Culver in 1917, almost immediately became an epicenter for the motion picture business. Three major film studios opened within seven years of its founding, and WWII saw the city become a central hub for aircraft production.    Suburbanization and development in the 1960s led to the area’s decline before a revitalization effort beginning in 1990 jump-started Culver City and led to the renaissance it’s enjoying today.    With a walkable downtown and vibrant pedestrian life, sunny parks, gorgeous bike trails, and robust nightlife, Culver City has a little something for everyone.   Eat, Drink, and Be Merry   Local Culver City coffee shops reflect the diversity of its residence with vibes ranging from the trendy Bar Nine to the kitchy Tanner’s Coffee Company.    Bar Nine   The weekly Tuesday afternoon Farmers Market is a great way to connect with the friendly community and buy delicious fresh produce. Any foodie will find themselves in heaven with a wide range of delectable and diverse options from the bright and crisp rooftop fare of Margot to the Irish Fare at Auld Fella.   For a bit of nostalgia, head over to Dear John’s, an iconic bar and restaurant just a ways down from Sony Studios on Culver Blvd and the former watering-hole for the Hollywood elite including Frank Sinatra.   Once the sun goes down the fun is just beginning, Backstage Bar and Grill is a dive bar favorite with some of the best Karaoke in L.A., while Seventy7 Lounge offers a more upscale cocktail vibe.   From Screen to Stream   Since Culver City has such a rich history of movie production it’s little surprise it finds itself, once again, in the epicenter of the entertainment industry. The iconic 1918 Colonial mansion of Culver Studios is now home to Amazon Studios, who is in the midst of building a new $620 million campus next door.    The Culver Studios   A half-mile away, HBO is planning to move into the new 5.2-acre Ivy Station development, which is under construction next to the Metro Expo Line’s Culver City Station. And Apple is moving in right across the street, to a new four-story headquarters at the intersection of Washington and National Boulevards.   There is certainly an emergence of big-name tech and media companies that are finding creative space in or around Culver City looking to plant their roots.   Community   With so much to offer young professionals, families, and those in the film industry Culver City represents the best blend of local community and big city opportunity. With a revitalized downtown, its own police and fire departments, and an independent school district, Culver City offers a family-friendly community with easy access to the wider Los Angeles - a solid investment for anyone considering purchasing a home in this booming community!   The beach is only a short bike ride away thanks to the Ballona Creek Bike Path, and close proximity to the 405, the 10, and The Metro Rail’s E (Expo) line means the rest of Los Angeles is just a short trip away.    For the most up-to-date real estate market insights for Culver City including median price for homes sold, median price per square foot, and/or days on the market, contact us today: team@davisandburns.com  

There’s No Place Like Home: The Best Tools for Your Home Search

There’s No Place Like Home: The Best Tools for Your Home Search

11/14/19 Rebecca Davis

​​​​​​​There’s no place like home, and home for us is Mar Vista and all of the neighboring communities where we raise our families, work, live and have some fun.Finding a place that feels like home can be a challenge! Especially in the competitive real estate market in Los Angeles. The tools we mention below, along with our reputation for being strong communicators and tough negotiators, will no doubt empower you to make the best possible decisions during your home search.With a focus on strategy and creativity, we want to make your real estate experience both successful and enjoyable! It’s not as easy as clicking your heels three times, but these tools will certainly make the process more efficient and help you find your place in the world.​​​​​​​​​​​​​​Compass Bridge Loans​​​​​​​Compass Bridge Loan Services gives you the financial flexibility to make an offer on your next home without waiting for your current one to sell.*This is a big deal folks! Work with us to sell your current home and get up to six months of your bridge loan payments and other associated costs fronted. This is an incredible opportunity AND an exclusive offering for Compass clients, regardless of the lender you use.⁠"Bridge Loan Services as an investment in the overall real estate ecosystem. Countless homeowners would move tomorrow if only they had the liquidity to do so. By temporarily providing that liquidity, we’re unlocking an entirely new group of home buyers." - Robert ReffkinAlready working with a lender you love? No problem. This unique solution lets you choose the provider that works best for you.Could a bridge loan be right for you? If you answer 'yes' to any of the following questions, it just might be.​​​​​​​Is Your Money Tied Up in Your Current Home?If you need to move but your money is tied up in the equity of your current house, a bridge loan can help you secure funding to facilitate the transition to a new home - like for a down payment or mortgage payments. Once your current home sells, you'll use the proceeds to pay the bridge loan back.Do you need to move within a specific timeframe?​​​​​​​If you're relocating for a new job or other reason, a bridge loan can afford you the freedom to move on your own terms and secure a new house when you need to, without having to wait for your old home to sell.​​​​​​​Compass Concierge​​​​​​​What if you could sell your home faster, at a higher price, without spending upfront on home improvements? The Compass Concierge program is the latest in a suite of services designed to prepare your home for the market. From deep-cleaning to cosmetic improvements to staging, we will work together to assess opportunities to elevate your home's value.We will cover the upfront costs associated with home-selling improvements and collect a fee for the services rendered at the time of the property’s closing.Recently in Mar Vista, we transformed an architectural gem back to its glory before it hit the market, click here to learn more about the process.​​​​​​​For more info about key eligibility criteria and restrictions or a detailed coverage list, contact us today.​​​​​​​With so many listings out there and so many different ways to communicate, it’s not easy to stay on the same page. That’s why Compass created Collections, a visual online workspace for us to collaborate, discuss, and monitor the market in real time.With a Collection, you can easily access your saved homes at any time, fully customize your search experience, and access school district and transit information.With Collections we can....​​​​​​​Work Better, together​​​​​​​Simplified agent and client communication through comments and notificationsShare your collection with anyone to let them join in the decision-making processCreate, edit, and comment on your collections from anywhere on the Compass iOS appMonitor the Market​​​​​​​Automatically surface listings that match your search criteria for discussionGet real time price and status notifications for added listings to stay on top of inventoryOrganize Your Listings​​​​​​​Save homes that match your criteria on an interactive boardCreate a collection for every need, client and scenarioCompass Coming Soon​​​​​​​A Coming Soon listing is a home that is not yet officially on the market but is initially displayed exclusively on Compass prior to going live on the Multiple Listing Service (MLS).​​​​​​​Pre-marketing a listing is a powerful way to build up interest and demand, gain more exposure and gather valuable feedback. A Coming Soon will create excitement and anticipation for a property so when it officially comes to the market, you can expect multiple private showings and open house turnout.During the Coming Soon period, sellers and their agents can gain valuable feedback from the market on elements like pricing, photos and positioning of the property. When it’s time to go live, your listing will be perfectly priced and positioned to sell quickly.Curious about any of these offerings? We’re happy to answer any questions you may have. Contact us today: team@davisandburns.comClaire and BeccaThe no-out-of-pocket costs offering for Compass clients is a loan provided by Notable Finance, LLC, NMLS# 1824748 and is available to all eligible Compass clients working with the Bridge Loan lender of their choice. Loan eligibility is not guaranteed and all loans are subject to credit approval and underwriting by Notable. Loans made or arranged pursuant to a California Finance Lenders Law license. Compass is not a lender and is not providing loans as part of Compass Bridge Loan Services.Information regarding lenders which offer short-term Bridge Loan financing is provided for informational purposes only and does not constitute an endorsement of the particular lenders referenced. Compass cannot guarantee that these institutions will be able to assist and does not assume any responsibility as to the performance of services to be provided by these institutions. There are no requirements that you participate in the Compass Bridge Loan Services or obtain a loan from these providers to participate in any other Compass programs (such as Compass Concierge). Speak to your Bridge Loan lender about all the costs you may be responsible for in connection with your Bridge Loan.

Case Study: Time Passes, Home Is Forever

Case Study: Time Passes, Home Is Forever

10/17/19 Rebecca Davis

Featured in Sunset Magazine in 1970, this stunning mid-century home in Mar Vista sold in just one week! We worked with the sellers to transform this architectural gem back to its glory before it hit the market. Not only did the home sell quickly, it was sold for $166,000 over asking.   As a team, we've helped hundreds of buyers and sellers realize their dreams in the greater Los Angeles area by empowering them to make good decisions. One powerful tool we utilize is the Compass Concierge program designed to prepare your home for the market. From deep-cleaning to cosmetic improvements, we will work together to assess opportunities to elevate your home's value.   This program allows us the opportunity to execute a tailored plan for updating and staging your home for prospective buyers. We will cover the upfront costs associated with home selling improvements and collect a reimbursement for the services rendered at the time of property’s closing. House preparation services include but not limited to staging, painting, deep cleaning, landscaping, and decluttering.   How It Works Our team will develop a tailored project plan with suggested home improvements and updates to prepare your home for the market.You will contract directly with home improvement service providers. Compass Concierge will pay the associated cost for home improvement work performed subject to your agreements with home service providers. At the closing of the property, Compass Concierge will collect a fee that covers the cost of the work performed.   For a detailed covered list and more information, please contact us and learn why we've established a reputation for being strong communicators and dedicated to excellent client service.      

Minisodes: The Scoop on Los Angeles Real Estate

Minisodes: The Scoop on Los Angeles Real Estate

10/17/19 Rebecca Davis

We’re excited to share with you answers to frequently asked questions about the Los Angeles Real Estate Market. The market may shift but our dedication to excellent client service will always remain steadfast.  Through this audio series (or minisodes), we hope to share some insight and perspective to empower you to make good decisions whether you're buying or selling a home or both! If you want us to elaborate on anything we’ve discussed or have additional questions, don’t hesitate to contact us today.   About Davis and Burns Led by dynamic realtors Becca Davis and Claire Burns, the Davis + Burns Team at Compass offers the ideal combination of studied expertise and deft client service. With a focus on strategy and creativity, Becca and Claire want to make every clients' real estate experience both successful and enjoyable.    Their attentive team mindset means buyers and sellers receive seamless support and uninterrupted accessibility, and their amiable personalities and lighthearted camaraderie are the perfect contrast to their tough-as-nails negotiating skills. Tireless and honest advocates for their clients, the duo views every transaction as a completely collaborative partnership that empowers clients to make the best possible decisions.      

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