Hollywood Hills West estate once owned by Marvin Gaye is listed at $3.799 million

A compound once owned by “Silky Soul Singer” Marvin Gaye and his first wife, Anna, has come on the market in Hollywood Hills West at $3.799 million.

The 1.46-acre estate includes a four-bedroom, five-bathroom main house, a guesthouse, an outdoor kitchen and an eight-car motor court. Water spills down a wall of boulders and into the swimming pool. There are three fireplaces and 3,156 square feet of living space.

Gaye, who died in 1984 at 44, found success in the late 1960s singing duets with Tammi Terrell such as “Ain’t No Mountain High Enough” and “Ain’t Nothing Like the Real Thing.” His hits included “I Heard It Through the Grapevine,” “What’s Going On” and the Grammy Award-winning “Sexual Healing.”

The Gayes owned the house in the mid-70s when Anna Gaye, the elder sister of Motown founder Berry Gordy, filed for divorce. She kept the house until 2008, when it sold for $1.91 million.

Rare opportunity to own this consisting of 3 parcels encompassing approximately 1.46 acres of land in Outpost Estates. Part of the land is flat and undeveloped, just waiting to be utilized. A private drive leads to an 8-car motor court and a completely remodeled 4-bed, 5-bath home. Experience breathtaking and serene settings on expansive park like grounds on one of the largest compounds in Outpost.

Please contact me at  (310)402-8181 or jkryukova@gmail.com for more information, showings, and other properties in the Hollywood Hills, Beverly Hills, and Surrounding areas for sale and lease!

 

This slideshow requires JavaScript.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nada Nadia Villarreal and Anthony Paradise of Sotheby’s Sunset office are the listing agents.

Housing industry recovering faster than many economists expected!

Housing is snapping back faster than many economists had expected, with home builders stepping up production of new homes nationally and fresh foreclosures in California falling to their lowest level since the early days of the bust.

Demand for housing has surged as interest rates have plummeted and home prices in many markets appear to have bottomed, particularly in states such as California where inventories of foreclosures and other lower-priced homes have sunk. The turnaround in prices and record-low supply of newly built homes also are luring builders back after six years of pain.

“The numbers are strong in September, and that is definitely a positive sign,” said Celia Chen, a housing economist with Moody’s Analytics. “It is confirmation that housing is lifting off the bottom.”

Residential construction starts rose 15% nationally last month from August to their highest annual rate in more than four years. A separate report showed that the number of troubled California borrowers entering foreclosure hit its lowest level in the third quarter since the dawning of the mortgage meltdown.

If the gains in housing hold, they could give consumer confidence a boost and help the broader economy recover. Housing has played an important part in lifting the nation out of past downturns but was hampered this time by the severity of the Great Recession and the huge number of vacant and foreclosed homes dragging down the market for years.

Now rising prices are helping homeowners in properties that for several years have been underwater, in which the house wouldn’t bring enough in a sale to pay off the mortgage. Rising values could play a role in lifting household finances if families feel more secure about the direction of the economy.

Any positive economic news presumably would be a boost for President Obama‘s reelection campaign, though both he and Republican challenger Mitt Romney have largely avoided a detailed debate on housing policy. Many on the left have said that Obama’s tepid and patchwork response to the housing downturn resulted in a slower recovery while the right has decried his policies as interventionist failures.

Michael D. Larson, a housing and interest rate analyst for Weiss Research, said the Federal Reserve‘s policies to keep mortgage interest rates low and Obama’s foreclosure prevention efforts have played some role in the recovery — but the improvements can mostly be attributed to natural market dynamics.

“It is certainly encouraging; housing has been this lead anchor around the economy’s neck,” he said. But “most of this is just the passage of time. I think if the Fed or the government had done absolutely nothing … we still would have seen some demand return.”

Several recent trends have underscored improvement in housing. Nationally, home builder stocks are up, prices have begun a modest recovery, and sales of newly built and previously owned homes have risen.

The Commerce Department reported Wednesday that construction of houses and apartment buildings rose in September to a seasonally adjusted annual rate of 872,000, marking the third straight month of improvement. The figures surpassed economists’ expectations of about a 770,000 annual rate.

September had the best monthly performance since July 2008, when housing starts were on an annual pace of 923,000. Compared with September 2011, new housing starts jumped 34.8%, the Commerce Department said.

Last month’s growth was “surprisingly strong,” said David Crowe, chief economist at the National Assn. of Home Builders. “As consumer confidence rises and jobs return, more local markets and more consumers will join the buyer market, and I expect housing construction to continue a modest but fairly steady rise throughout 2013 and into 2014.”

The annual rate of new home groundbreaking still is far below the peak of more than 2.2 million units reached in early 2006 during the housing bubble. But the pace has picked up dramatically from the low of 478,000 in April 2009, and is up sharply from the 706,000 annual rate in May. Building permits for private housing construction, a sign of future activity, also jumped in September, up 11.6% from August and 45.1% from a year earlier. The annual rate in September was 894,000 building permits.

Patrick Newport, an economist with IHS Global Insight, said the increases were likely due to gains in household growth after years of people doubling or tripling up to wait out the worst of the downturn.

“What’s kicking in right now is simply the demographics,” Newport said. “We have been building at too low a rate for four years, and so demand has been suppressed because of the recession, and now it is starting to kick in.”

On the other side of the housing pipeline, the shortage of cheaply priced homes in California appears poised to continue. The number of Californians entering foreclosure dropped in the third quarter to its lowest level since early 2007, according to a report from real estate firm DataQuick. Foreclosure filings have fallen as banks work toward completing more loan modifications and short sales. An improving economy and rising prices have also helped.

“Prices in most areas today are up significantly from their low point in early 2009,” said John Walsh, president of DataQuick. “Additionally, during the past year, we’ve seen short sales overtake the foreclosure process as the procedure of choice to deal with homeowner distress.”

Notices of default fell 10.2% from the prior quarter and 31.2% from the same period last year, DataQuick reported. A total of 49,026 notices of default — the first stage of foreclosure in California — were filed on homes in the Golden State last quarter.

That was the lowest number since the first quarter of 2007, and a 63% decline from the first quarter of 2009, when notice of default filings peaked in the state.

The number of homes lost to foreclosure rose 5% from the prior quarter and dropped 41% from a year earlier. A total of 22,949 homes were lost to foreclosure last quarter.

Source: LA Times

2013 Cyprean Dr. Hollywood Hills, CA 90046 OPEN SUNDAY!!

OPEN SUNDAY 9/23/12 2-5PM!

Zen Hilltop Contemporary on private shared street. All rooms enjoy spectacular
canyon, valley and mountain views. Living room w/ beamed ceiling and fireplace
open to deck overlooking canyons. Master Suite has huge steam shower tiled w/
limestone counter tops. Large walk in closet, also bonus room for office. First
floor has extra 1/1+living room w/private entrance. Bamboo floors, tiled
kitchenette & own deck. Wonderland school district & 2 car garage.

Size: 3 bedrooms, 3 bathrooms

Asking Price: $899,000

Location: Hollywood Hills, Laurel Canyon, Wonderland School District

This slideshow requires JavaScript.

3 Tax Benefits of Owning Los Angeles Real Estate

Taxes

While there are many advantages to owning Los Angeles real estate, the tax benefits are some of the most important to consider. For decades, the Federal Government and the state of California have incentivized homeownership through tax benefits that are not available to renters. These benefits not only help to reduce the home ownership costs, but also the costs of buying and selling a home. Below are a few tips to help you get a better understanding of real estate and the many tax benefits that come with owning a home.

It’s important to note, however, that in order for a homeowner to take full advantage of most benefits, they must itemize their taxes.

1) Mortgage Interest Deduction

The mortgage interest deduction (MID) is easily one of the best tax benefits available to homeowners. After searching, finding, and purchasing one of the many Los Angeles homes for sale, a new homeowner is able to deduct all the interest paid on their mortgage payments. For the first few years of the loan, interest tends to be the largest component of the mortgage payment. Because of this, the MID is a very beneficial tax advantage to homeowners.

2) Property Tax Deduction

For income tax purposes, it’s possible to fully deduct the real estate property taxes paid on a first home. By taking advantage of these property tax deductions, a homeowner can effectively reduce their total tax burden. To learn more, check out Schedule A (Form 1040), line 6.

3) Capital Gains Exclusion
When considering Los Angeles homes for sale, it’s important for a buyer to develop a long-term plan that includes the capital gains exclusion. So long as a homeowner has lived in their home for two of the last five years, they can take advantage of the exclusion. Individuals can exclude up to $250,000, whereas couples can exclude up to $500,000. It’s possible to claim the exclusion once every 2 years.

Ultimately, there are a ton of tax advantages and benefits available to homeowners — the tricky part is finding them. For those who wish to learn more about these tax advantages and others, seek out a certified public accountant (CPA) or tax attorney to assess all the available options.

If you’re looking to buy, sell, or lease property in Los Angeles? If so, please contact me at (310)402-8181 or jkryukova@gmail.com.

To sign up for free, daily property emails, please go to my website and sign up: http://juliekproperties.com/free-listings-market-information/

Source: Yahoo! News

Great Fixer Opportunity in Laurel Canyon! 2451 Greenvalley Rd. Los Angeles, CA 90046

Asking Price: $940,000

Super private Laurel Canyon Compound ready for a fluff. Custom built in the late
40′s , this sweet 2 bedroom,1.5 bath & den traditional has a big pool and an
airy high ceilings in the office/studio/guest/pool house with a full bath. Built in a
sunny spot, this rare find offers oodles of possibilities. In the Wonderland
Avenue School District. Probate sale, subject to court approval.

GREAT OPPORTUNITY IN THIS DESIRED LOCATION!!!

2bedroom/1.5 bathroom

Sq. Ft – 1,243

Lot Size – 6,095

Year built – 1947

Please contact me at (310)402-8181 or jkryukova@gmail.com for more information, showings, and other properties in the Hollywood Hills and Surrounding areas for sale and lease!

 

This slideshow requires JavaScript.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Listing courtesy of Bill Lustig, John Aaroe Group

 

8841 Appian Way Hollywood Hills CA 90046 – OPEN SUNDAY 2-5PM

Asking Price: $1,392,000

Breathtaking Modern Home never been lived in in its current condition. Gorgeous City & Canyon Views from every room. 4 bed 3 & half bath w/ Huge backyard. Over 2500sq ft house & 7110sq ft lot. All new kitchen w/ Caesar stone counter top & new Viking Designer series appliances, travertine Floors throughout. In desirable Wonderland School District. Perfect for Family or Entertainers home.

4 bedrooms

3.5 bathrooms

2,503 Sq. Ft.

7,110 Sq. Ft. Lot Size

OPEN SUNDAY 9/9/12 2-5PM

This slideshow requires JavaScript.

 

 

 

 

 

Listing courtesy of James Nasser WEA.

Moby lists Hollywood Hills West home for sale for $3.695M!

DJ and singer-songwriter Moby and Deanna Berkeley,head of the contemporary fashion brand Alice + Olivia, have listed a house in the Hollywood Hills West area for $3.695 million.

The Hollywood Regency style house, built in 1926, is described in the listing as a John Elgin Woolf reinvention. Details include 12-foot-high paneled ceilings, Palladian columns and parquet floors. The 3,700 square feet of living space includes a media room/den with built-in bookcases, an updated eat-in kitchen, three bedrooms and 41/2 bathrooms. There is a trapezoidal pool with a pergola and a guesthouse.

Moby, 46, saw his 1999 electronica album, “Play,” sell more than 10 million copies worldwide. His most recent album, “Destroyed,” was released last year. He published a book of his tour photography, also called “Destroyed,” the same year.

Public records show the property was purchased in 2008 for $2.95 million and has been leased out in recent years.

Source: LA TIMES