Beverly Hills Trousdale Estates Real Estate value comparison from June 2016 to June 2017

In analyzing the Beverly Hills Trousdale Estates Real Estate home sales in the charts shown, the median price decreased ($850,000) at June 2017 compared to June 2016, which is nominal being only a 9% reduction.   The Interquartile Range (IQR) however, increased significantly by $2,475M being a 70% increase.  It will be interesting to see how the median price fluctuates in the upcoming future based on this high IQR.  IQR shows the variance between the 25th and 75th percentile of sold homes.

For more info visit: https://www.lehoamiller.com/los-angeles-communities/beverly-hills/
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Pacific Palisades Huntington Real Estate comparison from June 2016 to June 2017

Pacific Palisades Huntington Area snapshot comparison between June 2017 and June 2016.  The Huntington median price in Pacific Palisades decreased $1,231,500 at June 2017 compared to June 2016, however, the highest sale recorded for $12,500,000 dropped off with the highest sale of $9,425,000 recorded for p/e June 2017 to adjust the difference.   The Interquartile Range (IQR) has not changed much, only a 5.91%($207,900) decline from June 2016 to June 2017, however, it is a $785,000 increase for the 75th percentile of sold homes.

For more info visit: https://www.lehoamiller.com/los-angeles-communities/pacific-palisades/

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Brentwood 90049 Real Estate Market Analysis for 4 quarters ending 6/30/17

Curious about the Real Estate Market in Brentwood?  Visit www.90049Brentwood.com for details on the past 4 quarters ending 6/30/17.  www.Lehoamiller.com

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Measure S - Vote NO and Why It Matters

From my Brokerage:

Must Read | Measure S | Vote NO and Why It Matters via Peter Loewy

A strong anti-development initiative is set to appear on tomorrow's ballot in Los Angeles. As real estate professionals, I wanted you all to be aware of this and understand why not only you should vote no, but also you must reach out to your contacts and encourage them to do the same.

What is Measure S?

Measure S is an initiative that seeks to curb development in Los Angeles. The Measure insists that the limits on development in Los Angeles are currently too lenient (if anyone has ever built in the LA area I am sure you would have strong opinion in favor of the opposite). Measure S argues that LA’s community plans that guide development throughout the city are outdated and need to be changed. It proposes a two-year moratorium on any changes to these plans, zoning changes and various other entitlement allowances that would effectively halt many projects.

But doesn’t Measure S only affect large projects?

While that is the intent. I’d urge you to look back at the 80s when Proposition U was passed. Similar to Measure S its proponents stated it would solely affect large scale community shifting projects. However, history proved that was not the case. Builders in every arena and size to this day experience the ramifications of Measure U any time they wish to build a new project. Measure S will have the same if not larger effect on our markets.

Why Should We Care?

Anti-development proposals such as this, want to stall our cities growth and encapsulate the city in the past. What cities and our industries need are innovation and speculation. While an argument can be made that too much innovation may be a bad thing (as you look out your window at whatever eye sore was recently built), Measure S is absolutely not the way to handle such issues.

Stemming growth will stagnate the real estate industry, create a housing shortage and limit the market from growth. This will have a devastating impact on future building and sales and combined with the anti-mansionization bill that just passed the City Council will have a chilling effect on development projects in LA. I highly encourage you all to get out and vote No on this proposition and to encourage your network to do the same.

The Los Angeles Times, CAR, NAR, Los Angeles City Hall and Forbes have all spoken out against the Measure – please do the same.

For more information on this look into the following articles:

Forbes | Measure S Would Grip Los Angeles In A Housing Shortage

LA Times | Making Sense of Measure S, the Latest Battle in L.A.'s Long War Over Development

Curbed LA | Meausre S: 8 Things to Know About LA's Anti-development Ballot Measure

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Understanding the Interquartile Range in Real Estate Value

There are numerous items that affect future home values, but I find that analyzing the Interquartile Range (IQR) is an immediate snapshot of value fluctuation. Monitoring the monthly Median price and the IQR will help you understand your homes current and future value.  The InterQuartile Range (IQR) shows the price variance between the 25th and 75th percentile of sold homes.  This indicates how spread out the middle 50% of sold homes are in this Area and an indicator of what the future Median value could fluctuate by.  The Average price can be a misleading number in areas where homes fluctuate by millions of dollars as 1 very high home sale would give an Average calculation that is not accurate.
Refer to the Central Brentwood chart below:  Central Brentwood Median Price for YTD 2014 was $2,350,000 and the IQR was $1,320,000.  It would be safe to assume that the Median price could go up or down based on the IQR of $1,320,000.  As you can see at YTD 2015, the median price increased by $1,057,500 to $3,407,500.

Advancing a year now to 2016, the 2015 Median price was $3,407,500 and the IQR being $2,608,750, which could be the range that the Median Price could adjust by.  2016 Median price decreased by $557,500 down to $2,850,000.

By looking at the Median basic statistics, being the Sold Price per square foot, home size and lot size; you can get a starting point to analyze home value - this is how appraisers start their valuations.  Clearly, there are other factors to consider, year home was built or year home was remodeled, upgrades, natural lighting, pool, privacy, garage scenario, floor plan, views, busy street, etc., all these items will increase or decrease value.

In the below chart for Brentwood Glen, the IQR is smaller than the above area of Central Brentwood.  A smaller IQR will usually mean a smaller increase/decrease in the median price.  Year End 2014 median price was $1,460,500 and the IQR was $351,250.  The Year End 2015 median price increased by $314,500 to $1,775,000 which was almost the entire IQR amount.   Year End 2016 median price increased by $197,358 from Year End 2015 to $1,972,358 with the IQR being $539,750.

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Brentwood Condominium 2016 Sold Condos

2016 YTD Brentwoods Condo market: Compare Central Brentwood to South Brentwood. Dividing road is San Vicente Blvd. Direct link to this subpage is: http://www.lehoamiller.com/brentwoo…/brentwood-condominiums/

Visit www.90049Brentwood.com or www.lehoamiller.com

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South and Central Brentwood Year End Real Estate Home Sale Comparison

Central Brentwoods median price decreased at YTD 12/31/16 compared to YTD 12/31/15 by ($557,500), however, keep in mind that 27 homes sold in 2016 versus only 18 in 2015. 2016 sales include 8 homes that were newer builds from 2013-2016, while 2015 only had 2 new 2015 built homes. 2016 did increase $500K compared to 2014.
Direct link to this subpage:

Compare this to South Brentwoods median price which was $2,262,500 at YTD Dec 2016 and reduced by 23% compared to YTD Dec 2015. However, the median square feet adjusted by 1,284sf. From 3,206sf in 2015 to 1,922sf in 2016 – this had to do with newer, bigger homes built in 2015.
Direct link to this subpage:

Visit www.lehoamiller.com or www.90049brentwood.com for market statistics on other areas.

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