Newsletter: Hot Property: Full steam ahead
Don’t look now, but the spring home-buying season appears to be in full bloom. Buyers and sellers are picking up steam, homes are shuffling quickly on and off the market, and low inventory continues to drive up the bidding as we march toward summer.
Simply put, the Southland market is putting the “hot” back into Hot Property. Here’s a look at the realty news that registered on our heat index in the last week.
Scream of an offer
Safe to say the Hollywood Hills home of late horror filmmaker Wes Craven scared up some serious market interest. The mid-century compound, which was also owned at one time by actor Steve McQueen, sold this week for $3.525 million — a healthy $230,000 over the asking price.
Set at the end of a gated drive, the flat-roofed home has curb appeal with a Zen-inspired fountain and landscaping. Clean lines, walls of glass and open interiors define the well-preserved post-and-beam.
Drafting new ownership
Arresting appeal likely contributed to television writer and producer Josh Safran getting above the asking price for his home in Hancock Park.
The English-country-inspired house, which changed hands for $3.398 million, has a storybook look with a turreted entry, leaded glass windows and unusual ogee arches throughout. Hedged grounds invite outdoor entertaining with a built-in barbecue and a swimming pool.
Mayoral interest
L.A. Mayor Eric Garcetti, who made a small mint off a recent home sale in Echo Park, stands to see a solid return from his latest investment. Garcetti and his wife, Amy Wakeland, recently bought an investment home in the Mid-Wilshire area for $1.6 million and put it up for lease.
For $5,000 a month, you can rent the English-country-style main house with three bedrooms and two bathrooms. Alternatively, two separate apartments on the grounds are up for grabs, each listed for lease at $2,000 a month.
Creative types wanted
If creative space is on your list of "must haves" for a next home, this might be the place for you. The Hollywood Hills West home and workspace of Oscar-winning composer Atticus Ross is up for sale at $1.695 million.
The rustic house in the Kirkwood Bowl area features, among other things, two recording studios and an office. Other features of note include cedar beams and wood-paneled finishes salvaged from a convent in downtown Los Angeles.
A swim in his pond
At this rate, Ryan Getzlaf will have a housing hat trick by the end of summer.
The Anaheim Ducks captain this week put his home in Corona del Mar up for sale for about $7.2 million. The ocean-view home in the Cameo Shores community features a custom entertainment room and views extending from the coastline to Catalina.
The listing comes roughly a week after the hockey center sold another property in Tustin for $3.75 million.
Damme good sale
Excuse the play on words, but Jean-Claude Van Damme has successfully roundhouse-kicked his home in Marina del Rey to the curb. The actor and martial artist last week sold the modern canal-front property for $7.25 million.
Built in 2011, the three-story house is packed with such features as a lavish home theater, a gym and a poured concrete-and-glass wine cellar. A glass staircase and an elevator are also included in the 7,574-square-foot home.
Changing the dial
Sports radio and television personality Colin Cowherd has tuned up his lineup in Manhattan Beach. He’s bought a new house in the South Bay community for $3.7 million and put his old place nearby up for lease at about $15,000 a month.
As for his new place, the multilevel house channels its inner Cape Cod with shingled siding, crisp white trim and a small front porch. Coastal hues, coffered ceilings and light wood floors keep the East Coast vibe going inside.
An eye for design
“Silicon Valley” star Thomas Middleditch has found himself a house with design cred in Hollywood Hills. The actor and comedian recently paid $1.5 million for the French-inspired home of Emmy-winning art director Charles Lisanby. Lisanby, a friend and muse of Andy Warhol, decorated the roughly 2,100-square-foot house with pieces from his travels. Details of note include vibrant hues, textured wall treatments and large Palladian windows.
What we’re reading
Twenty years ago this week, “Breakfast Club” star Molly Ringwald landed a leading role in Hot Property when she listed her home in Hollywood Hills for sale. More recently, it has been Ringwald’s castmate Emilio Estevez who has supplied the headlines: He’s been shopping his Malibu compound with a vineyard for the last two years.
More reading
— Here’s a little inspiration for those ready to embrace a smaller home footprint. Looking to downsize from her home in Beverly Hills, designer Amy Shock went to the bottom of the bargain bin: a double-wide 1964 mobile home in Ojai. The Los Angeles Times’ Lisa Boone details the makeover, in which Shock added walls of glass and contemporary finishes to the mobile home’s design.
— Speaking of makeovers, more homebuyers are looking to home face-lifts instead of holding out for their perfect home. The Wall Street Journal reports that low inventory has spurred many homeowners to spend a pretty penny on radical renovations of their homes instead of selling. The market is also driving up the cost for fixer-uppers, particularly in California.
For more luxury real estate, visit us at the Hot Property blog and follow us on Twitter and Instagram.
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