In its most recent economic outlook, the group revealed expectations for the economy to continue the modest recovery and grow 2.2 percent this year, up from 1.7 percent in 2012 and 2 percent in 2011.

“Employment numbers are getting better, albeit it at a relatively slow pace, and the April employment picture should help boost consumer sentiment toward the economy overall. Spending grew in the first quarter at a surprisingly strong pace, and although this rate is unlikely to hold up, consumers continue to show signs of resilience in the face of fiscal concerns,” said Doug Duncan, chief economist for Fannie Mae.

Duncan though warned of “potential” headwinds, such as the “long-term effects of sequestration, spending constraints, the sovereign debt crisis, and the impending debt ceiling.”

Amid the expected improvements, the group anticipates the housing market’s recovery will go on as well, reinforced by current levels of home affordability.

According to the GSE’s analysis, housing affordability should steadily decline from its 2012 peak, but will still hover above normal levels through 2017. By that time, the group expects the 30-year fixed rate mortgage to average 5 percent.

While affordability provides support to the housing market’s recovery, it’s not the main driver of homebuying activity, according to the GSE.

“Going forward, the trends in lending standards, regulations regarding lending and securitization of mortgages, and housing finance reform will be key to a transition to normal for the housing market,” the group stated.

Home prices should also continue their upward trajectory, aided by limited inventory, a smaller share of distressed sales, and increased efforts to prevent foreclosures.

Looking ahead, the group forecasts single-family starts will increase 24 percent this year, while multifamily starts will rise by about 35 percent during the same time period.

Total home sales—new and existing—are expected to increase by nearly 8 percent in 2013, while home prices should average a 3.9 percent gain.
The 30-year fixed rate mortgage is projected to average 4 percent in 2014.

If you’re looking for real estate opportunities, please contact me direct at (310)402-8181 or jkryukova@gmail.com

Source: DSNEWS

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The S&P Case-Shiller index of home prices in 20 major markets posted a 9.3% rise over the last 12 months. That’s up from the 8.1% rise in January. It was the biggest 12-month gain in the index since May 2006, which was just one month after the index showed record-high home prices.

The index showed a 12-month decline in prices almost every month over a five-year period through May 2012. But every month since then has shown a gain in home prices, and each month’s gain has been stronger than the one that came before.

“Despite some recent mixed economic reports for March, housing continues to be one of the brighter spots in the economy,” said David Blitzer, chairman of the index committee at S&P Dow Jones Indices.

Stan Humphries, chief economist for home price tracker Zillow, said there are signs in themarket that the pace of increase started to slow in March.

“Regardless what data you look at, home values are clearly rising at an unsustainable pace,” he said. He said the increases in the index need to be taken with a grain of salt, being distorted by the shift in transactions to private home sales rather than the foreclosure sales that had been dominating the market.

The housing recovery has been driven by a number of factors, including near record-low mortgage rates, a drop in foreclosures and reduced unemployment, all of which have helped lift both new-home sales as well as sales of previously owned homes. The rising home prices has helped bring back some buyers who had been reluctant to buy while prices were falling.

Mike Larson, real estate analyst at Weiss Research, said he’s concerned that much of the increase is being driven by investors flooding into some markets to buy homes in order to rent them out, outbidding the potential homeowners who want to live in a home.

“Prices are not at bubblicious levels, but you’re talking about a trend that can be destabilizing,” he said.

Mark Vitner, senior economist with Wells Fargo Securities, said part of the reason for the sharp rise in prices is the comparison to depressed prices a year earlier. He said comparisons will become more difficult later this year. and the pace of increase should slow.

Home price increases boost the overall economy. Besides the jobs created by a pick-up in construction and home sales, rising prices mean fewer homeowners are underwater on their mortgages, owing more than the home is worth. That allows more homeowners to refinance, saving money they can spend on other things.

The Case-Shiller index showed the improvement in home prices is broad based, as every market posted an increase for the second straight month. The biggest increases came in Phoenix, a market hit hard by the bursting of the housing bubble, where prices were 23% higher than a year earlier.

But prices were up more than 10% in half of the markets — San Francisco, Las Vegas, Atlanta, Detroit, Los Angeles, Minneapolis, Miami, San Diego and Tampa all posted double-digit percentage gains, and Denver just missed that mark. New York posted the smallest gain, with only a 1.9% rise in prices.

Dean Baker, co-director of the Center for Economic and Policy Research, said some neighborhoods in Phoenix are actually seeing a 40% increase in prices over the last year, driven once again by property speculators. He said in many markets that were most hurt by the bursting of the housing bubble, there is a danger of new bubbles forming.

“The end of this round of speculation is not likely to be much prettier for the areas affected than the end of the last round,” he said.

Even with the strong improvement in prices over the last 12 months, the index is still down 28% from the 2006 peak. 

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$599,000 3bedrooms/2.5bathrooms 1,821 sq. ft. 

Property Website: http://dickenscondo.com/ 

The post 14245 Dickens St. #307 Sherman Oaks, CA 91423 JUST REDUCED TO $599,000 appeared first on Luxury Los Angeles Real Estate Services by Julie Kryukova.

• 3 bedrooms
• 2.5 bathrooms
• 2,621 sq. ft
• Skylights throughout
• Wide hallways, high ceilings
• Impressive master suite with fireplace, large windows, private patio, tons of closet space, vanity area, double sinks, separate tub and shower
• Large updated kitchen stainless appliances and eat in nook
• Oversize open concept living room with short windows
• Washer and Dryer inside the unit
• 3 assigned parking spaces side by side
• Enormous private storage space
• Secure entry, private elevator
• Honey hardwood floors, brand new lush carpet in the bedrooms

Please contact me for details and private showings.  Property is located North of Burton Way, West of Doheny Drive in Prime Beverly Hills, CA 90210.

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Great opportunity to own in the Dona’s. This 3 Bedroom / 2.5 Bath home has  wonderful appeal. The living room features beautiful floors, brick fireplace and recessed lighting. The formal dining room leads into the kitchen eat in kitchen with granite counters and access to the back patio and green yard. Upstairs are 3 Bedrooms and 2 baths. The front bedrooms have Juliette balconies with treetop views.

Located just minutes from trendy shopping, dining and nightlife. Info herein is not verified by agent. Buyer to verify all info & rely on their findings.  This property is a foreclosure.

3 bedrooms/2.5 bathrooms 1,900 sq. ft. ASKING PRICE: $895,000

Please contact me at (310)402-8181 or jkryukova@gmail.com for questions/showings.

The post Great Buy in Studio City Hills – Fixer but with lots of potential! appeared first on Luxury Los Angeles Real Estate Services by Julie Kryukova.

2bedrooms plus Den

2 Bathrooms

7,554 Sq. Ft Lot

2,156 Sq. Ft. Interior

One of the area’s most-desired developers struck gold with this 1980 architectural wonder. Modernist builder Steven Hill’s elements and style are intact on the inside and outside of this unique, loft-like residence. Soaring light-filled spaces permeate the home. A contemporary, open floor plan showcases a two-story living room, dining room, kitchen, cocktail lounge, convertible den, balconies, decks, and spectacular city lights views from almost every room.

Enter the home through a unique vestibule. To either side of this ante room are two one-car garages (direct-access parking for two cars total). Ascend a light-flooded staircase to the first level of the home, which centers around a living room with fireplace, vaulted ceilings, walls of glass, and dynamic views. Adjacent to the living room is an intimate cocktail lounge with built-in bar. This area could be modified and used as a screening area.

The house’s dining area also faces easterly views. High ceilings and glass brick add volume and brightness to this room. Bamboo floors accentuate the space. The custom dining table is rumored to have been crafted by Steven Hill, as well.

Hill was not afraid of angles–”right,” 45-degree, or otherwise. The home’s kitchen is an example of Hill’s fascination with intersecting lines. Plenty of cabinet space, original grey ceramic tiles (a Hill obsession), and a clerestory window complete the room.

Up a half-level is a guest bedroom, a large convertible den (which could be used as a bedroom), and an angular full bathroom lined with Hill’s favorite grey tiles.

Higher up is the home’s master suite level. A large bedroom features a fireplace, walk-in closet and a sliding glass door which opens to a view across the city’s lights to the San Gabriel mountain range. The master suite’s over-sized bathroom features a separate tub and step-in shower large enough for two. Bonus alert: Bathe or shower while taking in city lights views through a picture window! A stack laundry unit is also on this level.

Outside is a steel sky bridge that leads to a large lot with three decks. There is also a yard area past the decks that provides plenty of room for the possibility of a pool or grassy lawn. Over-the-top views abound from these outdoor areas.

This creative space is located north of Los Feliz Boulevard on a quiet, coveted cul-de-sac that features more expensive homes. Griffith Park is a few steps from the front door.

According to public records, there have only been two owners of the property; Hill himself (from 1980 to 1984) and the current trust. Are you ready to be the third owner?

TRUST SALE. Court confirmation is NOT required.

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2,068 Sq. Ft.

KILLER VIEWS!!!

This stylish Hollywood Hills residence showcases dramatic views right from the front door and its sky-lighted entry hall (with powder room).  An open floor plan accentuates the home’s modern vibe. The house’s ample living area has a fireplace, pitched ceilings, wood floors, and resort-style walls of glass that accordion-open to a generous balcony. Inside becomes outside as the breezes blow and a carpet of city lights spice-up the living space. A dining area also showcases views to di(n)e for. The highly-desirable open floor plan continues as dining opens to the home’s well-equipped kitchen (with breakfast or cocktail bar), which has newer appliances and plenty of custom wood and glass cabinetry.

The master bedroom has custom built-in wall of shelving and cabinetry and plenty of closet space. There is a balcony accessible through glass double doors. Just past the pine trees…more city lights views. The remodeled master bath features a chic porcelain vessel sink, a reclaimed wooden cabinet and mirror, slate shower & tub surround, and chrome fixtures. The second bedroom also has access to a remodeled bathroom with an over-sized sink cabinet and step-in shower.  This bedroom also has a balcony with tree-top and city lights views.

The home’s large, direct-access garage is currently working perfectly for two-cars, laundry area, and storage-storage-and more storage; but could be used as a gym or additional living space. An outdoor wrap-around deck area (hedged and gated) provides ample private space for kids/pets, and sports and built-in barbeque. This area is perfect for an evening cocktail gathering or Al Fresco dining and…has views!

This home is a true Hollywood Hills pad, just north of landmark Mulholland Drive. Near the end of a cul-de-sac, this Las Alturas home provides a safe and secure street to hang out, walk the pups, and take in the “mountain” air. And, it’s only a short walk to the upper entrance to Runyon Canyon Park.

The post JUST LISTED: 2880 Las Alturas St. Hollywood Hills $999,000 appeared first on Luxury Los Angeles Real Estate Services by Julie Kryukova.

3bed/3bath Stunningly updated with spanish detail

2,996 sq. ft./Lot size 13,607 sq. ft.

Please click here for the virtual tour:  1136 Doheny Dr Lifestyle Video 

3BR/3BA Spanish residence in the Sunset Strip offers ultimate privacy (gates, hedges, no one “looking in” from above) and unparalleled access to all of the Sunset Strip’s offerings. Features include: formal step-down living room with 2-story vaulted ceilings and over-sized fireplace, cook’s kitchen with Viking appliances and eat-in peninsula, luxury-level master suite (overlooking park-like grounds) with large walk-in closet and spa-like bathroom with cathedral ceilings and soaking tub, 2 additional bedrooms en suite, family room and dining room with French doors to the completely private back yard, sparkling full-sun pool and spa with flagstone lounging/eating areas, expansive lawn with room for play, pups, and parties. Indoor-outdoor flow makes this home perfect for entertaining. Pre-wired for media, individual room-by-room volume controls, office area with custom built-in desk and cabinetry, basement/bonus room with storage, direct access to 2-car garage, security, intercom.

The post JUST LISTED: Re-imagined Sunset Strip Spanish Estate! Offered at $5,300,000 Open Tuesday 11-2pm appeared first on Luxury Los Angeles Real Estate Services by Julie Kryukova.

RELAX AFTER A LONG DAY ON THE LARGE, BEAUTIFUL PATIO WITH STUNNING VIEWS ALL THE WAY TO THE OCEAN, THE HOLLYWOOD HILLS AND THE FAMOUS SUNSET STRIP.

UPDATED KITCHEN OPENS INTO THE LIVING SPACE
AND PATIO, ALLOWING FOR COMFORTABLE INDOOR AND OUTDOOR LIVING.

STUDIO CONVERTED INTO A COMFORTABLE 1 BEDROOM, AMPLE CLOSET SPACES, AND FULL BATHROOM WITH PLENTY OF STORAGE AND COUNTER SPACE!

$499,000

$520 Monthly Dues

Available NOW!

Please contact Julie Kryukova at (310)402-8181 or jkryukova@gmail.com for showing and questions.

The post JUST LISTED AT $499,000! 999 Doheny Dr. #902 West Hollywood, CA 90069 – Chic condo with unbelievable views! appeared first on Luxury Los Angeles Real Estate Services by Julie Kryukova.

3bedrooms, 2.5bath, 2126 sq. ft

Asking Price: $1,045,000

This elegant three-bedroom, two-and-a-half bathroom Beverly Hills penthouse offers stunning above-it-all views and an unbeatable location. Lounge on the large outdoor patio and soak up the mountain to city views, or walk to all the area has to offer. A Regency-style set of double doors opens into an entry way to the 2,196 sq.ft. unit. The step-down living area is over-sized and has a travertine fireplace. A balcony with sweeping views is at the end of the living area. A dining area is bracketed by corner walls of window that allow for ample light in the day and a carpet of city lights at night.

The large galley-style kitchen (with built-in appliances) is “open-ended” and provides access to the dining and living areas. Under-the-counter laundry machines takes the functionality of the kitchen to new heights. Richly-toned granite counter tops, and plenty of storage augment the kitchen’s offerings.

Bonus alert! It is a rarity in condominium floor plans that a unit have a family room/den area. But this unit has a perfect one. Its den area (with a wet bar) provides space for watching screeners or having an evening cocktail. Rounding out the public rooms is a convenient powder room off of the main entry.

The large master suite has a walk-in closet and double sinks. The two other bedrooms share access to a bathroom.

Pool, residents-only meeting rooms, two parking spaces (tandem) and controlled access make this unit a great value.

Please visit www.441oakhurstdr.com for more details.   OPEN HOUSE SUNDAY 1-4PM

The post JUST LISTED: Elegant Penthouse in Prime Beverly Hills Location $1,045,000 appeared first on Luxury Los Angeles Real Estate Services by Julie Kryukova.