As a licensed real estate agent and mortgage broker with 20 years’ experience in the industry, Armen Minissian of Huntington Group prides himself on the personalized service he provides clients every step of the way. With much of his business focusing on condo sales, he especially enjoys working with first-time buyers. “I find it special being a part of that journey with them,” he explains. “A promotion at work, getting married, starting a family — these are just some of the cherished moments I get to share with my clients. As they outgrow their condos, they call me to start looking for larger homes, and our relationship progresses and evolves together.”
Minissian also specializes in new construction, where he takes a similarly hands-on approach. “I get to be a part of the process from the ground up,” he says. “I help find and acquire the right properties to develop, then work with the developer from start to finish to release a brand-new product that is unique and desirable in the current market.” These include upcoming developments on Denny Street in Toluca Lake and Kling Street in Studio City, as well as two custom homes being built on Micheltorena Street in Silver Lake, and he’s just finishing selling out seven brand-new luxury homes at Toluca Lake Villas on Bloomfield Street.
This past year’s biggest challenge was the rise in interest rates, which left buyers who had qualified with lower rates unsure of what they could afford. Having thoroughly researched to find preferred banks and lenders, Minissian and his growing team — which recently brought on two new agents — were able to connect their buyers with the most aggressive rates available. Now that rates have become more predictable, giving buyers more confidence, “I’m starting to see more multiple-offer situations now than I did in the past six months. Sellers are still in a good position to maximize the value of their home.” While the housing market remains difficult to predict with certainty, he adds, “as agents we are immersed in the market daily to stay up to date and are sure to relay the latest changes to our clients.”
Especially in the perpetually sought-after neighborhoods of Toluca Lake and Studio City, where inventory is low, Minissian’s top advice for buyers is to get prequalified. “Having finances ready will help you put your best foot forward when it comes time to make an offer on a desired property,” he says. For sellers, “I always recommend they work with a professional who knows the area well and is honest about the property’s value in the current market. You have one shot at releasing a property at the right price. Values need to be set based on recent comparable sales and current market trends; if this is not done right, it could cost the seller tens of thousands of dollars.”
Fortunately, Minissian’s in-depth knowledge of the local market gives him a proven track record of success in building honest, trusting relationships with repeat customers who often end up referring their neighbors, friends and family. “Working in Toluca Lake has been very rewarding for me,” he says. “It is a close-knit community that has pride of ownership and pride in their neighborhood. It is also an area with a lot of history, especially in the entertainment industry; I recently sold a townhouse that was previously owned by the late Olivia Newton-John. I always tell my clients that Toluca Lake is a very special pocket in Los Angeles, and I really enjoy getting people into their homes here, because once they live here, they do not want to leave.”