Kevin Dees is a second-generation Toluca Lake resident with a passion for helping residents find their dream homes. As the director of estates at The Agency Studio City, Dees brings more than a decade of experience as a broker and investor.
When we spoke with you last year, you had said we were in a robust market and that you didn’t see any signs of home sales slowing down. Do you feel that is still the case?
My team was fortunate to have the biggest first quarter of sales that we have ever had this year. There is still substantial leftover demand caused by the pandemic from buyers looking for a change and sellers looking to trade up, downsize or even move out of the city for more open space.
How much should people save for a down payment in today’s competitive market?
A minimum of 20%. Most of the transactions we were involved with in the first part of the year were cash transactions. If financing is involved for a purchase, itis important to have a conversation with your lender to see how aggressive you can be when it comes to offering terms. We regularly see potential buyers of our listings who are obtaining a loan for a purchase removing both their appraisal and loan contingency time frames and significantly reducing or even eliminating their due diligence period in order to be more competitive against others who are offering cash.
Where does your passion for real estate come from?
My passion for real estate comes from my mom, who loves homes. She is one of the most creative people I know and used to take me to different open houses just for fun when I was little. Also, my love of L.A. history, architecture, design and people.
Some experts predict that there could be a correction in the housing market. What do you envision that looking like?
I believe an opportunity exists in every market. People will always need a place to live. No matter what the future holds, I love what I do, and I am committed to making it work no matter what the market condition might be for many years to come. Going back 50 years, through all the ups and downs in the economy, the housing market is one of the strongest performers.
Is there any recent news about your realty business that you would like to share?
I recently listed the Bob Hope estate, which is arguably the most notable property in Toluca Lake and one of the most iconic estates in L.A. As a young boy growing up in Toluca Lake, I used to ride my bike by the estate and would regularly peek through the hedges on the west side of the property, attempting to get a glimpse of Mr. Hope’s famous par-3 golf hole. To now have the opportunity all these years later to be selected as the listing agent of the impeccably restored estate is something for which I am incredibly grateful.