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The Magnificent! Newsletter

Falling Mortgage Rates & The Rise of Spec Homes


Home sales in July climbed 1.9% from last year which was the first increase in twelve months. Since Then, There has been about a 50/50 split in listings selling over asking and vice versa. The spike in home sales could be attributed to the slow decline in mortgage rates, moderating prices in inventory, or even the fact that there was an extra business day during the month of July. Sales have since declined 10% each month which is great for buyers and investors looking to purchase in the current market.

August 2019 Mortgage Rates: 3.55% down from 4.94% in November 2018

LA County Average Home Price: $635,000


Falling Mortgage Rates & The Rise of Spec Homes


Home sales in July climbed 1.9% from last year which was the first increase in twelve months. Since Then, There has been about a 50/50 split in listings selling over asking and vice versa. The spike in home sales could be attributed to the slow decline in mortgage rates, moderating prices in inventory, or even the fact that there was an extra business day during the month of July. Sales have since declined 10% each month which is great for buyers and investors looking to purchase in the current market.

August 2019 Mortgage Rates: 3.55% down from 4.94% in November 2018

LA County Average Home Price: $635,000

The 8th Wonder of the World | 924 Bel Air Rd. The 8th Wonder of the World | 924 Bel Air Rd.
$150,000,000
Sedrick K. Benton Sedrick K. Benton
Luxury Entertainment Realtor

Rocky & Bullwinkle Returns To WEHO


Rocky and Bullwinkle were the stars of J ward Productions most successful animation series. The show debuted as Rocky and Friends and after it flopped, it was revived as “The Bullwinkle Show.” At the time of the reboot, the statue went up as well which featured the two main characters erected in front of the Jay Ward Production Offices mimicking a spinning showgirl on a billboard from across the street that was used to market a Casino in Vegas. It was such a mockery that every time the showgirl’s bikini was painted a different color, The Sweater of The Bullwinkle statue shortly followed suit. Jay ended up passing away in 1989 but the statue surprisingly remained put for 52 years. However, it’s streak ended on July 22, 2013.

It was later restored by artist Rick Scozzarri and appeared in The Paley Center for media in Beverly Hills in October 2014. Then it moved to West Hollywood City Hall in August 2015 and later put in storage. This year, members and actors from the show unanimously voted in a town hall meeting to bring the Statue back to WEHO on Sunset and Holloway that will cost approximately $68,000 to erect. Citizens in WEHO are excited to have a piece of history placed back into WEHO.