Tag: Eklipse Real Estate

Investor Involvement Declining

 Written by: Samantha Guarderas

Home prices tend to hit a peak during the summer time due to the range of homes that are being sold. Expensive homes benefit from the spring and summer seasons because schedules tend to be less demanding and families are able to move without interrupting school. According to CNBC, home prices in June showed certain growth rates nationally. However, investor involvement in the market dropped from 25.3% in May to 21.9% in July. These investors have played a major role in the real estate market up until now. They are frequently all-cash buyers and typically do not need to sell a home in order to purchase another. These actions have contributed greatly to the recovery of the housing market. However, both investor involvement and home supply has been dropping. While home prices continue to rise, investors are choosing not to go through with deals because of the rise in prices.

They are beginning to lose interest. In many cases, these pricing increases are becoming too high for investors, therefore eliminating investment participation. However, this should not discourage future investors. Recently, Asian investors purchased half of the new Ritz-Carlton Residences, looking to profit off of the condos. With the outstanding location of the condos, this type of investment is sure to pay off. Investing takes thoughtful consideration. Always remember that location is key.

Eklipse Real Estate is offering an amazing investment opportunity with our 6-unit condo building located in the heart of Venice, just steps away from exquisite dining and nightlife.

 

Home Builders Seek Workers as Demand for Homes Increase

 Written by: Samantha Guarderas

  According to CNBC, homebuilders are currently experiencing a rise in demand for homes. This progress has been consistent over the past year and provides hope to homebuilders who suffered after losing 70% of their business in the housing crash. Now, with this boost in new orders for homes the main problem in executing homes in a timely manner is a lack of workers. After the housing crash, many workers left the home building industry in search of jobs with higher demand.

Due to the shortage of these workers, more specifically, framers, concrete workers, plumbers, roofers and painters, the cost of labor is greater. Homes that previously could be finished in 6 months now take 9 months. To replace these workers isn’t nearly as easy as it seems. These jobs require highly skilled workers and on the job training is undesirable. Time is money and in today’s market it can’t be wasted. They need workers that are already trained and prepared to begin the job.

       In the month of September alone, Eklipse Real Estate has had over $4 million dollars worth of real estate in escrow! Also, we currently have a home in development located at 7561 Clinton Street, right off of the world famous Melrose Avenue. The property is a 2 bedroom, 2 bathroom, single-family

home, estimated to be completed within the month. Make sure to continue to browse our website for our upcoming listings and don’t forget to follow us on twitter @EklipseRE to be kept up to date on our properties, as well as the latest real estate news!

$99 Million Dollar Acquisition of 8000 Sunset Shopping Center

Written by: Samantha Guarderas

Located in West Hollywood, 8000 Sunset is a 171,400 square-foot grocery shopping center that was just attained through a $99 million dollar purchase by Weingarten Realty Investors. According to globest.com, the shopping center is already 94% leased including beloved stores such as Trader Joe’s, Starbucks, Crate & Barrel, Sundance Cinema and Crunch Fitness. The location is estimated to attract a large amount of traffic due to the surrounding communities including Beverly Hills and the Hollywood Hills. The average household income within a three-mile radius of the property is averaged at $104,000. The intersection, Sunset Boulevard at Crescent Heights Boulevard, sees 140,000 vehicles pass through daily.

This average is guaranteed to uphold the attention of drivers that pass by every day, which will assure maintaining the current following while also attracting new customers. The amount of people exposed to the shopping center is certain to contribute to the success of the building. Due to both the location and prosperous residential communities, Weingarten Realty invested in the property with high hopes to continue to appeal to the masses and gather even more loyal customers to the 22-year old shopping center.

Through our June Street listing, Eklipse Real Estate is offering not only the perfect home but also the ideal location just minutes away from the Sunset Shopping Center. The shopping center offers everything needed for daily living. Whether it’s groceries, a coffee, miscellaneous items or an impromptu shopping trip, the Sunset Shopping Center has it all. June Street is sure to provide any homeowner the satisfaction of convenience with such a practical shopping center nearby.

Phillip Braunstein is the listing agent.

Location, Location, Location

Written by: Samantha Guarderas

     Aggression seems to be key for the Chinese who are dominating the American real estate market these days. In May, a Chinese couple purchased a mansion on Sunset Boulevard, in what was a much talked about sale. Now, Asian buyers are hoping to continue investing in American real estate to reap the benefits.

Asian buyers have already bought half of the new Ritz-Carlton Residences, which is located in South Park.This could be partly due to the fact that it is conveniently located near major Los Angeles attractions such as the Staples Center and L.A. Live. One of the buyers purchased six condominiums from the building and is currently looking to purchase up to 50 units in a separate Los Angeles development, according to a recent article in the Wall Street Journal. Regardless, it is clear that both location and aggression are playing a major factor in the urge for buyers to make their move. The time is now.

Eklipse Real Estate is offering the “now” through all three of our current listings. The locations are set among some of the most desirable places in Los Angeles. If you are looking to invest in a condominium or home, Eklipse Real Estate offers the following options:

  • Dream Luxury Home: 536 Dalehurst Ave. Located in the quiet and exclusive neighborhood of Little Holmby
  • Contemporary Condominium Complex: 1411 Main Street in the heart of Venice, California
  • Cozy Old World Spanish Style Home: 736 North June Street right off of Melrose in Hollywood

 

Phillip Braunstein is the listing agent.

Luxury Homes Rebound in Los Angeles

Written by: Johanna De La Fuente

A spur of bidding wars has occurred as luxury home properties are in high demand. Within days of a listing going live, there are multiple offers and deals made immediately. Offers are even coming in over the asking price. The Los Angeles areas, such as Brentwood, Beverly Hills, and Bel Air, have incited numerous bidding wars on luxury properties, as prices are rising, and investors are returning to the market. Even homes in need of renovation are in demand, in hopes to flip and resell for a higher price. (See WSJ “Big Homes are Back in Business“)

Throughout the U.S., prices for residential properties over $1 million, have risen 7.2 percent. Bidders are acting quickly, minimizing listing times. Luxury properties no longer linger in the market as they did two years ago. There is no time for hesitation to submit an offer. The need to act quickly is not just because of high demand but also due to low inventory, as there are less sellers listing their homes.

Eklipse Real Estate is taking part in the luxury bid war with its new listing posted this week! The luxury property is located at 536 Dalehurst Ave, in  the beautiful area of Little Holmby. It is a 4 bedroom, 4.5 bathroom home, priced at $3,495,000. Check out the pictures online at www.536Dalehurst.com. Phillip Braunstein is the listing agent.

California Housing Market Improvement!

Written by: Johanna De La Fuente

The rise in median home pricing and  the decline in foreclosure sales have been key contributions to the improvement of the housing market recently. From the same time last year, the sale of real estate has improved8.6%. As the market improves, new construction is also increasing.

Eklipse Real Estate is a full service brokerage firm and is also involved in developing several real estate projects in Los Angeles. One of its currents developments is a single family home in Hollywood on Clinton Street, just south of the happening shops and restaurants on Melrose Avenue, 90036. Eklipse will be listing the Spanish style 2 bedroom, 2 bath home in the upcoming weeks.