Born and raised in Toluca Lake, Kevin Dees, the director of estates at The Agency, calls it a “dream come true” to have represented the buyer and seller of the Bob Hope estate in March. The sprawling five-acre property on Moorpark Street, complete with a par-3 golf hole designed by Hope himself, sold for $26 million, a record price for a Toluca Lake property and one of the largest sales ever in the San Fernando Valley. “I will be forever grateful to all involved in the transaction,” Dees says. “The property is in great hands for another generation, and I am extremely proud of that accomplishment.”
The famous estate is just one of “a significant number of ‘off-market’ and exclusive properties we’re aware of through our personal relationships with satisfied clients and vast knowledge of specific real estate markets,” Dees says. “Our client referrals are rated No. 1.”
While selling the Hope estate is at the top of his list of standout career moments, Dees has no plans of stopping anytime soon — his love for real estate and “appreciation for the history of Toluca Lake” will keep him going for years to come.
“I love all different kinds of architecture and design, and when you add great clients to the mix, my vocation becomes a wonderful adventure,” he says. “My passion for real estate comes from my mom, who loves homes. She is one of the most creative people I know, and she used to take me to different open houses just for fun when I was little. I couldn’t be more grateful to have a career that allows me to work and live in the neighborhood I grew up in.”
Constantly studying the latest real estate trends, Dees expects the market to remain on the side of sellers through the end of the year but believes the tide may turn as we get through the later stages of 2024.
“Obviously, the interest rate environment is not what it was this time last year, and that creates challenges for buyers,” he says. “We are still dealing with an inventory shortage, primarily due to interest rates. Because of the limited supply, the market is still competitive, and home prices remain strong. Our team thinks we will see interest rates fall leading up to the 2024 election cycle.”
When the opportunity arises to purchase, Dees advises buyers looking to obtain a home loan to “shop the rate and be open to other loan programs outside of 30-year fixed rates — you can always refinance once rates become more attractive.”
For sellers, Dees says it’s crucial to accurately price your home. Underpricing could lead to missing out on additional gains, while overpricing could result in your home sitting untouched on the market. To get a better idea on an asking price, sellers can go online to view recent sales in your neighborhood.
For those interested in working with Dees during their real estate journey, the Toluca Lake native wants people to know that they’ll be getting a dedicated, hardworking broker with deep knowledge and adoration for the neighborhood.
“The sense of community in Toluca Lake is like no other neighborhood in Los Angeles,” Dees says. “I have also served on the Greater Toluca Lake Neighborhood Council for the last few years, which has been an incredible honor. I’m incredibly thankful to call Toluca Lake my home and to have my two amazing little girls and my wife, Kristen, by my side, who make all the hard work worth it for us and our valued clients.”