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BEN LEE’S BLOG
To Snake or Not to Snake?
Recently, some clients of mine were readying their house for sale. I came in to look around and see if there were areas that needed freshening up or to identify extraneous clutter that should be eliminated before the first Open House. Often sellers are so used to their surroundings, they no longer have the ability to identify what needs to be done because they’re too used to them. The couch with the tear in the arm or that splotch of off-color paint that has been on the wall for years becomes just the fabric of their day-to-day lives. I’d say everyone who has been in a home for a while needs someone with a fresh eye to be able to determine what needs to be done in order to efficiently photograph, market and ultimately sell a home.
But sometimes this role is subjective and needs additional opinions before determining the right choice. For example, I walked through this one house in particular and offered minor suggestions as to what they should do before the photographer came later that day. Take away that extra bookshelf here, remove the toy buckets from over there, swap out this chair for another, etc. An hour or so later, I received a call from my wife who also went by the house as she does for all of my listings. She writes up the descriptions for the homes that I sell. I picked up the phone and her voice was shrill with alarm. ‘Did you see what they had in the back room??’ I had no idea what she was talking about. What blaring offense had I missed when I toured the home earlier in the day?? I answered, ‘No. What are you talking about?’ ‘THERE WAS A SNAKE!!!’ She was so scared seeing their pet snake in a cage, she was horrified to imagine how hundreds of would-be-buyers might react during an Open House. I walked right past it earlier and didn’t think twice about it. Yin and yang? Man vs. woman? Snake-a-phobe vs. reptile tolerant? Either way you look at it, sometimes it’s best to get more than one opinion when it comes to prepping your home for sale because while one person may not have a problem, someone else might. In the end, my wife’s reaction won out. Mr. Snake was safely moved in his habitat to an undisclosed location for the duration of the Open House. The house showed beautifully and all the visitors that day had a pleasant snake-free time.
Take note, tarantula owners: best to temporarily remove your furry friends before putting your home on the market. Always better to be safe than sorry.
What’s The Magic Number?
The latest figures have been released and according to the California Association of Realtors, if you want to be able to afford a house in Los Angeles, you need to be making a certain minimum salary. Keep in mind: this is based on an average of houses sold in all of Los Angeles. So, what’s the magic number? In order to buy a house that costs $465,280, you need to make at least $92,571 annually. That’s a pretty hefty salary but don’t let it scare you too much. There are certainly other factors to consider. First of all, this is the median household income so if both adults work, as long as the two salaries equal that 92K number, you are in fine shape. Also, even though the salary number has increased, so have the numbers of households who now qualify to buy. At the end of 2015, 30% of buyers could afford a home but after the first quarter of 2016, 34% could make a purchase. This is good news for the state of our county’s economy! It also shows that real estate continues to be a solid and smart investment.
Of course, the next question begs the answer: where can I find a home for $465,280? The truth is: many places! There are still a lot of houses (and definitely many condominiums) for that price in the greater Los Angeles area. You just need to know where to look, be open to new/undiscovered parts of town and to hire an agent who has his ear to the ground for pocket listings. Good deals are still very much out there even in neighborhoods that would surprise you. But, with that said, it’s also important to keep the 4 percent increase of individuals’ abilities to afford this median house purchase with a grain of salt. Historically, home prices are lower in the first quarter of the year and increase as the year progresses. So, that basically means that more people can afford houses in the first few months of the year but their ability to buy decreases as home prices start to escalate but salaries stay the same.
So, if you are a first time homebuyer in the greater Los Angeles area, now you know the benchmark to determine whether or not 2016 is the year to go for it. Owning a home, especially in the greatest city (in my humble opinion) in the nation is a great goal to have- hoping this is your time to do it. Good luck!
Paradise Found
Teachers and students may be the only groups of individuals who can rely on specific weeks to take time off. The rest of us have to carve out vacation time when we can get it and be brave enough to actually try and shut everything down in order to relax and refresh. This isn’t easy to do especially if you own your own business or are a freelancer. Taking time off for those of us in real estate can be especially daunting because we may miss out on work by being out of town. But I do think it’s important to try to step away from the phones, computers and texts every once in awhile- to get back in touch with the pure art of total relaxation. I’m lucky in that I’m able to do this every so often thanks to a superb support staff that keeps the train moving even when I’m away. If it wasn’t for them, I would be a nervous wreck and probably not be able to stop fielding calls and answering emails even while pretending to relax.
My family and I were blessed with spending a few days on the Big Island of Hawaii over spring break. We are big fans of the Mauna Kea hotel over on the North Shore. There’s truly no place else like it in the world. The architecture of the hotel is totally unique and it sits on what is arguably the nicest beach on the entire island. The water is warm and crystal clear with barely any rocks to get in the way of wading out and taking in a few waves. This is the type of place where you never have reason to visit the swimming pool because the beach is so spectacular. And, after all, nothing really says ‘Hawaii’ better than a nice beach, tropical air and swaying palm trees.
Luckily, our boys are at an age now where we can actually enjoy a vacation together. I remember the first time we took our now 6 year old to Hawaii. He was one at the time and my wife and I took turns pushing him in his stroller up and down the streets of Honolulu from 3am to 6am every morning. He was awake and raring to go. It was like being paradise-adjacent. It was pretty awful. But now, that same boy has learned to rise at a reasonable hour, has become a master boogie boarder, and actually spent some time lounging on a beach chair, book in one hand and a virgin pina colada in the other. My wife and I would see other families with babies and give each other that look that says: remember when that was us? And hooray that now it’s not?! It was like we could finally take a relaxing vacation and actually relax.
I hope you, too, could carve out some down time this spring break and unplug a bit. Did I want to come home from Hawaii and jump right back into the wheelings and dealings of residential real estate? Um, no. I could’ve used another few weeks of rest and relaxation to gear up for the busy quarter ahead. But I’m glad we got the few days that we had and I wish we could do it more often.
My Grandmother
I was happy to celebrate my grandmother’s 98th birthday this week. What an accomplishment- 98 years on this earth. I know everyone thinks my grandmother is amazing but I have to say: mine really is. Up until fairly recently, my grandmother had been a professional Hawaiian dance teacher in Cheviot Hills. She taught for about 40 years at Rancho Park before becoming an artist-in-residence in a community room space in the Westside Pavillion. She is not Hawaiian but became fascinated with the culture after visiting the islands with my grandfather right after they got married nearly 80 years ago. She learned the traditional dances from native Hawaiians, some of whom moved to Los Angeles, and after mastering them herself, she went on to teach interested students week after week. There would be competitions and retreats and recitals and my grandmother would always be the center of attention.
One of her last ‘classes’ happened at Castle Heights Elementary School. Every year, to mark the kindergarteners’ ‘graduation’ there is a luau. The year my eldest son Mason completed kindergarten, my grandmother (a spritely 92 at the time) led all the children, parents and teachers through an authentic Hawaiian dance lesson. You could hear a pin drop- that’s how transfixed these children and relatives were at learning a true Hawaiian dance from a (non) Hawaiian master.
My grandmother performed at my wedding and at countless Lee family gatherings throughout the years. Even though a broken hip prevents her from doing too much dancing these days, my grandmother is the living reminder that age is just a number. Still as sharp as a tack and a true lover of having a good time, she left the family birthday party, grabbed my cousin and together they set off to take a road trip to continue the celebration in Las Vegas. Talk about ringing in her 99th year in style!
I know my Tutu’s former students still recall with fondness how much it meant to them to learn from not just such a skilled teacher, but from a true icon of Rancho Park. I’m proud to say this remarkable human being is my grandmother. Happy birthday, Tutu!
The New Griffin Club
I had the pleasure yesterday of being invited to the new Griffin Club (formerly the Beverly Hills Country Club and a few other names even before that) on Motor in Cheviot Hills. My wife and I had a private tour of the grounds and with maps in hand, were able to envision how a 15+ million dollar renovation will look ten months from now when construction is complete. The club as how it had been for many years was always kitchy and fun. The 80’s colored paint was a little bit peeling in areas, the food hadn’t been updated in awhile, the deck chairs and umbrellas weren’t all that attractive. But, for many of us residents and club members- that place was a second home, especially in the summer time. Kids could splash all day long, parents could grab a snack shack burger and always see a friend or two from work, school or the neighborhood. I imagine many of us with school-aged kids have attended at least one or multiple school functions held at the club. It was comfortable there for these types of events: they were able to accommodate a big crowd and it was never too fancy or snobbish.
Those quaint days at the club may soon be a thing of the past but in all honesty, I was really blown away by how beautiful the new club will be. They are making many changes and I do think they will elevate the club into more of a destination place than just a mere convenience. From the look of the plan, there will be a real element of design to the grounds. It will be more modern in look and feel- lots of wood, clean lines, open areas. It seems like they are capitalizing on what an incredible piece of land they have right in the heart of our neighborhood. Making better use of the views and existing landscapes, just giving everything there a new look and feel.
They are hoping that the new vibe of the place will encourage more families to attend the club, not just for functions or to jump in the pool, but as a meeting place to socialize. A bocce ball court and huge expanse of grass is replacing one of the tennis courts with the hope that kids and adults will be able to have a bigger place to play. Club owners are hoping businessmen/women will invite clients to lunch or after dinner drinks. Why meet at a random bar or bustling Starbucks when the club is situated to be so much more sophisticated and pleasant?
So, I for one am really excited about the changes that will be made (slated to be done February, 2017). I know not everyone is a fan of change (or a dues increase) but I do think a club of this stature is a boon to our neighborhood and will go a long way to increase our property values as well as benefit our community as a whole.