Charles Renn, Realtor

I don't often vacation at an all-inclusive, but when I do it's with the wifey in the DR♥️🇩🇴💙

Local data is the most important when considering your time to buy or sell real estate. These lines indicate the average sales prices through April 2023 for residential properties in these 4 area of Los Angeles County.

Do you see prices dropping consistenly over the last 6 months?

Most of these areas have increased over the last 3 years, and two of the four are higher than April 2022. If you'd like more specific data, as your local realtor. If you don't have one, I'm here to help!

Merry Christmas to my clients finding a solid offer on their beautifully remodeled home in Monterey Park! It took patience and implementing a few different strategies, but they are well on their way to selling this one.

📍

Market Monday: *Inventory: Months Supply" - months supply essential shows us how long, in each market, will it take to sell all the homes in that market given the demand. In this case for Pasadena, San Pedro, and Whittier, all three levels are nearly at pre-pandemic levels (Pasadena is still considerably lower). Furthermore, inventory levels below 4 months are considered to be a lack of inventory (a factor keeping prices high). where 6 months inventory is an equilibrium level.

November Market Update: **Prices** In the graph you see median prices for Los Angeles(grey), Pasadena(blue), and Long Beach(red) over the last 3 years. We hit a peak around May 2022, and you're seeing a steady correction since. Note that prices aren't necessarily coming down month-to-month, and they are still higher than 12 months ago. With rates coming down over the last week or so, what do you think will happen to prices going forward?

Market Mondays: *Days on Market* refers to the number of days a property has been listed on the market. In the height of the market in the last 2 years, this number was under 10 days! As of the end of October, that has nearly doubled up to 20 days.

Los Angeles: 22 days (over 50% increase from 2021)
Monrovia: 18 days (50%)
San Pedro: 18 days (125%)
Santa Monica: 18 days (12%)

What does this mean?

Buyers are being more selective and taking their time to write offers. Looking at this metric alone, it says the market still leans in favor of the seller. Once we get closer to 30-45+ days on market, will the market favor the buyer.

Which markets are you interested in?
https://crmls.stats.10kresearch.com/infoserv/s-v1/Mi77-m3f


The David Greene Team
Lindsey Iskierka Realtor- The David Greene Team
BiggerPockets
Pacific West Association of REALTORS®

Median Days on Market for Los Angeles City and more

Market Mondays: Take a look at a few SoCal markets and their sales prices over the last few years. As you can see, in general, prices were climbing until the middle of this year. If you look a little closer, you'll also notice markets like Monterey Park and San Pedro, prices went up last month. It's important to understand not only the larger picture, but also the local level.

Who do you know that is interested in these markets?

*Entire MLS = all of CA
The David Greene Team
Lindsey Iskierka Realtor- The David Greene Team

Median Sales Price for Entire MLS and more

Market Monday's: Take a look at 4 markets in SoCal and inventory (or month's supply). Under 4 months supply is considered a sellers market. Trends are moving higher to a more neutral market.

What do you think?

crmls.stats.10kresearch.com

Congrats to our client who closed escrow on a single family home in Downey with a converted garage and option to build out into an ADU!

He knew what he wanted and jumped at this opportunity. Even in this market the number can work.

The opportunity to work with great people makes this job a lot easier. This lovely home is currently under contract. My clients have found a gem of a home at a great deal, over $100k under original list price!

This West Hills home was recently updated with a permitted 2 story ADU in the neighborhood of great schools. Great for a large family or house hacker looking to rent out the adu to pay down their mortgage.

23025 Cohasset St.
Asking $1,098,000
4/2 w 1bd/1bth ADU
2224sqft living space
*seller will pay down the buyers interest rate

🧮 w/10% down, rent out the ADU, and pay about $4,750 toward your mortgage.

🧮w/25% down, rent out both house and ADU and get close to breaking even on the mortgage.

Great starter home for those that love all that Santa Monica has to offer!

Asking $1.49m
3bed, 1 bath
1200+ sqft
Detached garage w/adu possibilities

1816 34th St. Santa Monica

Listed by

Patience is a virtue! My clients were in backup position on this duplex and now are taking the lead in adding this to their house hack portfolio.

Duplex
*Closing costs credited to buyer
*2000+ sqft of living space
*7500+ lot size
*Option to convert basement and 1 unit into a 4 unit property!

This fully remodeled home with bonus bed/bath awaits a new owner. Top to bottom upgrades including copper plumbing, new electrical and a tank less water heater 🏡😎💧

Asking $1.089M
5027 Chester St LA, CA 90032
3/2 with a bonus 1/1 attached
1626 sqft
Large Lot, over 7000sqft

I'll be there tomorrow, 8/13, from 1-3:30p.

This lovely couple and soon to be parents (in about a week) moved into there gorgeous Agoura Hills home at the end of June.

I wish them the best in the coming weeks and into the future, continuing to grow their family and real estate portfolio.

🏡❤️👶

How do we know when a seller might consider lowering their offer price?

Days On Market > 30 days

Take a look at a few Los Angeles markets on the graph below. They are a good indicator of what's happening here in the LA area...

Median Days on Market for San Pedro and more

Congrats to these kids! It doesn't get any better when your clients are family! My sister and her fiance negotiated all of their closing costs, over $20,000, to be covered by the seller!

May the sun shine on you and this lovely garden retreat for years to come!

Altadena
2 bed, 1 bath plus 1bed, 1 bath converted garage
Lovely front yard landscaping
Steps from the neighborhood park

All the best!

Here's another reason to look in San Pedro. This spacious loft is in the heart of downtown, blocks away from the new harbor development set to finish in 2024.

I'll be there this Saturday 1:30-3p.

Asking $585,000
2br, 2 bath
1100sqft
*Secured parking & 3rd floor community patio

Listed by

Only a couple blocks away from Highland Park favorites like Highland Park Bowl and Kitchen Mouse, this large 2br on a big lot offers a ton of potential for those looking to bring their sense of style to this turn of the century gem.

Convert the detached garage to an 1br ADU to add further value. Possibility to split the lot as well!

Deets:

Asking $825,000 (after repair value over $1M)
2 bed, 1 bath
1100sqft
Detached 2 car garage with separate alley entrance
Large 6900 sqft lot

🧮 with 5% down, around $41,000, estimated mortgage is $6,400

🧮 with 20% down, estimated mortgage is $5,250

Once you're 1br ADU is ready, rent it out at $2,400/month.

Ask me how!

This duplex in Long Beach took determination and persistence, but our FHA clients stuck to their guns and closed this amazing duplex in Signal Hill.

Congrats to them both and to for her guidance and direction!

FHA buyers welcome 🏡🎉😎

Here's #2 in 1 week for my clients. This Monterey Park gem my clients just closed the 1st day on market. This will be fully remodeled and back on the market in a few months!

3bed, 2 bath with a view

Can't wait to see their finished work!

What a week!

These clients were the first offer on this beautiful townhouse in the West Los Angeles/Westwood area. Thanks for
For her guidance!

Congrats to them both and their dog, Wyatt!

3br/3bth
1550+ sqft
Large patio
Ev charging

Congrats to my sister and her fiance on getting their offer accepted today!

It's a beautiful home in Altadena on a large lot with a ton of outdoor space, solar panels, and a converted garage!

🥳😎🏡🎉

Another great investment for my fix and flip clients, $20,000 under asking! With a huge lot and detached garage it will be a gem once complete.

Stay tuned for its full remodel likely coming in 3-4 months.

Monrovia
4bd / 2bth
1479sqft
8900+ sqft lot

The beauty has found a buyer! My clients have a knack for style and finishes. This listing was on market only 7 days, and under contract well over the asking price!

Another gem under my clients belt! This 3br/2bth in Monterey Park has a beautiful elevated view of the .

Expect to see this home fully remodeled in 3-4 months and on the market!

Congrats to my clients for the ground up remodel on this beautiful craftsman in LA Verne. It's on market today with open houses all week and private showings available!

2075 6th St. La Verne
Asking $875,000
3bd / 2bth with 2 bonus rooms
1644 square feet
Detached 2 car garage w/ ADU ready bonus room
Large lot and more...

See the link in my bio for all the details or send me a message 😎

There are a few obstacles to this gem, but with determination comes success! Blocks from York Blvd and delivered 100% vacant.

This 2 unit fixer comes waiting for your eye design and patience.

Asking $675k
2 units, 1-2/2, 1- 1/1
1632 total sqft
Off-street parking

*Offers due Friday afternoon.
**Buyers are recommended to be present at court hearing for possible over bidding.

Ask me anything...

Come say Hi!, 2-4p today while I host you and yours to this thoughtfully remodeled home with ADU potential close to Cal State LA, downtown Alhambra, and downtown LA.

Asking $895k
2940 Hollister Ave., 90032
3/2
1211sqft
Detached 2 car garage

Congrats to my friends and clients who officially are owners of this beautiful home in Agoura Hills! They made every effort to get it done. I appreciate their determination and patience. They were the first showing and offer!

It's a beautiful space for this young couple expecting their first child! Thank you again for letting me represent you.