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Do It Yourself Projects

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DIY projects can be a cheap and fast way to fix those small (or big) things that need work around the house! Here’s a quick guide to help you stay safe: bit.ly/DIY-Safety

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 Silver Lake

 


Thinking Whether To Rent Or Sell Your Home?

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If you are relocating and can’t decide whether to rent out or sell your home, take these questions into consideration:

1. Do you want to be a landlord?
2. What does the local rental market look like?
3. Will you be moving back to the area?

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To figure out how much you can afford to spend on a home

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To figure out how much you can afford to spend on a home, make an estimate! To start, it’s recommended you take your annual household income and multiply it by 2.5!

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Silver Lake

buyers haven’t been so eager to give builders their money since 2005.

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By this measure, buyers haven’t been so eager to give builders their money since 2005.

Bloomberg
Houses under construction at a KB Home community.

Sales of newly-constructed homes powered to the highest in ten years last month, as pent-up demand for housing bumped up against low inventory of currently-owned properties on the market.

There was another telling detail in the Commerce Department’s new-home sales report out Monday. More than 36% of homes sold during October had not yet been started — the highest share since late 2005.

If buyers are forking over money to buy homes that haven’t even been started yet, let alone finished, it’s a real confirmation of strong demand, said Robert Dietz, chief economist for the National Association of Home Builders, the industry trade group.

Read:Why aren’t there enough houses to buy?

That should translate into a higher pace of construction and sales in future months, Dietz said.

But there are some caveats.

Home building — already a labor-intensive, difficult-to-scale, high-cost endeavor — has become even more so since the housing bubble burst. Over the past 12 months, home builders and remodelers have hired about 98,500 new workers, but Dietz reckons 150,000 to 160,000 are needed. One and a half million workers lost their jobs in the downturn, and only about half that number have been hired back since the trough, NAHB says.

Read:Home-builder confidence climbs to 8-month high in November

The prices of things builders need to do their work, such as lots and lumber, are also pinching.

Dietz says the industry is aware it needs to do more to staff up, such as working with trade schools and doing more to encourage training. The pace of housing starts won’t jump, he said, so much as “ramp up slowly.”

That’s still good news for employment, the economy, and the supply-starved housing market.

Silver Lake


Proposed First Silver Lake Hotel

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Courtesy of Frost/Chaddock

Earlier this month—timed with the release of the draft environmental impact report (DEIR) for a three-building, mixed-use development along Sunset Boulevard in Silver Lake—we learned that project developers Frost/Chaddock were seriously mulling taking out one of the proposed mixed-users and putting a boutique hotel in its place.

The hotel option was one of the “alternatives” explored in the project’s DEIR, which requires developers to explore a handful of other options (including not building anything at all) that might reduce the impacts of new developments on their surrounding environment (traffic, views, etc.).

Frost/Chaddock (F/C) indicated the hotel option was more than just an on-paper alternative—it was something it was seriously willing to consider, if Silver Lake residents were interested.

The hotel would be a story shorter and smaller in total square footage than the proposed mixed-use building. It would bring 94 hotel rooms and 4,000 square feet to the site at 4000 Sunset, and it would have one level of underground parking. Renderings provided by F/C show a rooftop bar and pool, F/C rep Purvi Doshi tells Curbed the architect would be Lake Flato, “who specializes in boutique hotels.”

The mixed-user would have 84 residential units and about 11,200 square feet of creative offices, restaurant, retail, and community space.

Frost/Chaddock reps have previously said that for the time being, they are focusing on the comment period for the draft environmental report before making any more decisions about the hotel. The comment period ends August 15.