Real Estate News Archives - Page 4 of 5 - Eklipse Real Estate, Inc.

Existing Home Sales Improving – Attitudes Changing

Written by: Samantha Guarderas

Recently it was discovered that homebuilders’ confidence has increased to a five-year high. This is due to both low-cost property prices and record-low mortgage rates. Currently, these less-expensive properties are attracting buyers and adding to the housing recovery statistics. According to the Los Angeles Times, “resale’s jumped 10.4% compared with the same month last year.” These consistent jumps in numbers over the past year are continuing to provide homeowners and builders with positive attitudes towards the market. While current homes are selling, prices continue to rise. However, this time of recovery is beneficial to many home-improvement companies.

People are choosing to put a lot of time and energy into remodeling projects. For example, Home Depot has just reported their second-quarter earnings, which exceeded previous analysts’ estimates. Optimism is coming from all angles and the future of real estate is bright. We have taken note of this optimism during our open houses where prospective homebuyers are engaged and positive.

Come view our listing on 736 June Street, which was recently remodeled and features a beautiful open floorplan.

The listing agent is Phillip Braunstein.

2012 Summer Olympics: Lochte & Douglas Face Real Estate Troubles

Written By: Samantha Guarderas

After two-weeks of outstanding performances, the 2012 Summer Olympics came to an end on August 12^th. The U.S. led in the medal department with an astounding 104 medals overall. According to The Real Deal, victorious athletes such as gymnast favorite Gabby Douglas and swimming sensation Ryan Lochte are experiencing issues when it comes to real estate. Douglas’ and Lochte’s families are facing potential bankruptcy and foreclosure, respectively. These Olympic-level athletes dedicate not just their time to their beloved sports, but there is a large price to pay. It is estimated that Olympic-level gymnastics training costs up to $15,000 yearly. With the Olympics over and endorsements locked in, it’s assumed these issues will be resolved soon.

While some of these athletes are facing financial problems, London’s most prestigious neighborhoods are benefitting from the exposure brought by the Olympics. Home prices are increasing to record highs. Areas including Chelsea, Notting Hill, Hyde Park, and Mayfair are up 13.5% higher than the peak in 2008. The Olympics have even surprisingly brought real estate development to East London due to Olympic Park, which housed the Olympic athletes as well as a fitness center. The units will be converted into homes while the fitness center will be transformed into a school.

London home prices were not the only thing affected by the Olympic Games but also other aspects of the real estate business. The Olympics were an opportunity for real estate exposure. Century 21 Real Estate’s new commercial labeled “Smarter, Bolder, Faster” was planned to air over 100 times during the Olympic coverage. What better time to market your company than when the entire world is watching?

While there is much success with the real estate developments in London, we continue to see international buyers entering the U.S. real estate market to invest in properties. At Eklipse Real Estate we offer these investment opportunities with our current listing at 1411 Main Street as well as future developments.

Jobs On the Rise

Written by: Samantha Guarderas

The buzz surrounding the revival of the housing market has brought up much speculation about the direct effect on jobs. If the housing market continues to steadily recuperate, more jobs will emerge for real estate agents, construction workers, furniture companies, architects, etc. Of all these industries, the construction division was arguably hit the hardest. According to CNN Money, the unemployment rate for the U.S. population is 8.3% and recently it has been determined that the unemployment rate for construction workers is 12.3%. Approximately 2.3 million construction jobs were cut. However, homebuilders added 5,800 workers in July alone, representing a shift in employment.

Another major effect that the housing recovery could have on jobs is relocation. While there are jobs available around the U.S not everyone is able to pick up and move. This is due in part perhaps to bad timing as well as the trouble that can come with selling a home. Therefore, relocating to pursue a job isn’t necessarily in the cards for those that may be qualified to take jobs in different cities or states. However, if the current housing market continues to fight its way uphill, these issues can be resolved for many.

Ultimately, this progression would cause consumer spending. If these home prices rise, then it’s assumed that the middle-class family will mimic this growth in wealth. Motivation in spending can be sparked by an awareness of higher earnings, resulting in an expansion of consumer spending.

With the continual focus on the housing market and it’s progression, what better time to look into property? Make sure to browse our listings to set up your own motivation for a possible move. Whether you’re relocating from a different state to finally work at your dream job or moving down the street, Eklipse Real Estate is here to guide you in your transition.

Home Values Bouncing Back

Written by: Samantha Guarderas

Although the country has been seeing the damage from the plunge in our home values, the housing recovery has been able to slowly tick upward, in spite of the lack of job growth. Zillow recently announced on their real estate market report that, “home values increased 2.1% from the first to the second quarter of 2012 to $149,300.” The home price in 20 major markets rose 1.3% in April, making it the first monthly increase in over six months. This not only represents the turn around for the housing market but also, national home values have consistently risen for the fourth consecutive month, according to Forbes. This stability in the increase of home values hopefully represents future progression. Zillow estimates that the housing market will continue this road to recovery at a slow pace over the next year.

The cities that are speculated to bring in above average gains over the next year are those that have endured a lot of loss such as Phoenix, Las Vegas and cities in Florida. There is assumption that if home prices continue to increase in these cities, many new homes will be put on the market. This would be a result of homeowners who have delayed putting their homes on the market in hopes of values to recuperate. This sudden rise in listings could even out the prices for some time in home value.

Statistically, we cannot ignore the fact that home values are on the rise and investment opportunities continue to flourish. We have seen a common theme of consistency in 2012. Why not invest? Eklipse Real Estate is offering the perfect investment opportunity through a 6-unit condo building located in the heart of Venice.

Phillip Braunstein is the listing agent.

Homeowners Demanding a Change in Zoning Laws

Written by: Samantha Guarderas

Homeowners across the United States are beginning to demand a change in zoning laws to allow both for profit as a homeowner and provide affordable rent to tenants. There has been much apprehension about in-law suites or alternate entries due to issues of parking, traffic and the strain on utilities. However, with the job and housing markets’ current state, there has been a rise in recent meetings dealing with the topic of these alleged accessory units.

A major issue that has been brought up about renting out space in these American suburbs is the fact that it defies what the suburbs stand for, which focuses on space for growing families. However, many of those occupying the suburbs are facing and reflecting on one of two issues: they can’t sell their homes or they simply just do not want to.

Many of these homes are occupied by a minimal number of residents, who do not utilize the space they live in. Parents find themselves in homes that are far larger than necessary after their children go off to college and eventually settle down elsewhere. Due to this issue, Patrick Hare tells WSJ that this extra space would best be used for accessory apartments. This extra space is resulting in a generation of new renters.

As a result of the rental market, many people are going against what has been seen as the norm in previous decades and renters are suddenly considering single-family homes. This has sparked an interest in homebuilders who are now featuring separate units in their homes.

While these accessory units are offering affordable rent and allowing homeowners to keep their homes, they still worry and raise the question of parking spaces. If every home in a suburb were to offer these accessory units, parking would most definitely become a concern on the residential streets. What are your thoughts on the issue?

The Global Economy

Written by: Phillip Braunstein

Economic Markets around the world have always been interacting and trading with each other for eons, but Adam Smith’s The Wealth of Nations really propounded the consequence of these market economies in a world becoming industrial, and that means technologically equipped. Smith identified that there are two opposed forces that drive any economy toward growth and prosperity. These two forces both restrict and stimulate the other and continually move in

opposite directions: they are Parsimony and Industry. Parsimony, as Smith explains it, is the drive toward savings, affordable labor, and cost reduction. Industry is the drive toward production, growth, expansion, which requires capital and labor and needs capital in order to grow and generate its products. Too much industry without parsimony results in a high production level but with a high debt that will knock the economy off balance. Too much parsimony without industry results in a stagnant economy that does not allocate enough of its capital toward growing its industry.

Productive industry is grounded on another principle, and that is the division of labor. Industry could not produce enough supply to reach the demand that exists if it were not for the production line and division of labor. These basic principles are still pertinent today, and show that the organization and forces that drive business must be recognized in order to achieve a healthy economy.

In fact, the very word economy derives from the ancient Greek word, meaning “the rule of the home.” Being able to manage the household wealth and finances is the management of the economy, since being able to manage the household allows one to manage a business economy and state wealth as a whole. We can see how the finance of individuals, businesses, real estate, and countries intersect in the realm of the global economy.

Topshop Ready to Top Los Angeles

Written by: Samantha Guarderas

The Grove has become more than a shopping center to Los Angeles residents and visitors alike, it’s become an escape to a world full of high fashion, entertainment and fresh produce. Now, to add on to the countless stores that cater to shopaholics everywhere, the Grove will now host a Topshop, estimated to open in February of 2013. Topshop is a British fashion store with a dedicated following of shoppers. Nordstrom is pairing up with Topshop and will have items from the store displayed amongst their own high-end collections.

Both companies are seeking to benefit from this collaboration as Nordstrom has become synonymous with class and Topshop with hip. This merge will expand both companies audience base and allow for new shoppers to explore all that they have to offer. Topshop will be taking advantage of this merge because they plan to open 20 new sites within the next 5 years, so in a way, this opening serves to understand how U.S. customers will respond to its new accessibility. Right now, Topshop has 319 stores in Britain and only functions in three U.S. states—New York, Chicago and Las Vegas. These limitations to Americans have made Topshop the object of desire for American travelers in Europe. With a new shop in Los Angeles, Topshop is expected to attract not only its most devoted fans, but gain the favor of shoppers all over the city. This merge is dream come true for

Los Angeles shoppers.

Eklipse Real Estate is offering a front row seat to experience the opening of Topshop at The Grove through our future listing on 7561 Clinton Street, located just one mile away from The Grove off of Melrose. The development of Clinton Street will be finished within the next month.

Recovery & the Housing Market 2012

Written by: Samantha Guarderas

With recent findings we have the upmost hope for the housing market as 2012 nears its way to the end of a year that can only be synonymous with the word recovery. The housing market for the remainder of 2012 is estimated to progress according to The San Francisco Chronicle, as home sales are escalating pointing towards recovery. Two major things to pay attention to are both pre-existing homes and new homes.

Previously owned home sales have jumped from 3.39 million in 2010 to an expected 4.55 million by the end of 2012. This jump in pre-existing home sales is significant in housing upturn considering approximately 93% of the market in the United States consists of older homes. This is a positive start to the turnaround of the market and sparks optimism for the future of the housing market.

New homes are seeing a leap in numbers as well. May saw an increase of 7.9% in authorization of new construction making it the highest it has been since 2008. These numbers exceeded estimations made by analysts and has become a pleasant surprise, contributing to a promising future.

The latest facts have one thing in common and that’s increase. Increase is key in fueling the housing market and allowing it to flourish to its highest ability. With 2012 halfway over, there is plenty of time for this increase to further exceed expectations and continue to add to the recovery process.

$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.

Tragedy Strikes Colorado

Written by: Samantha Guarderas

A wildfire that was originally thought to have been under control is proving to be hazardous in Colorado. Due to both high winds and damp weather, the wildfire has spread overnight by more than double according to MSNBC, making it the most awful fire season in history. The intensifying risk associated with the fire left 32,000 people no choice but to evacuate the area in order to escape the intense smoke and ash, as whole neighborhoods were seen crumbling to the ground. Firefighters are doing their best to gain control over the 12 fires that have emerged in Colorado. The largest fire has already consumed 257 homes and taken a life. While many homes have been destroyed we must not forget about the amount of homes that have been saved due to the courageous firefighters risking their lives to put an end to this dreadful natural disaster. Our best wishes go out to all those involved in the fire and the families going through this hard time. To read more about the article visit: http://www.latimes.com/news/nation/nationnow/la-na-nn-colorado-wildfire-evacuations-20120627,0,2157910.story