Monday, June 21, 2010

A Little Ranch In Brentwood...

The famed Brentwood ranch of actor Robert Taylor is on the market for a whopping $56,000,000. Although it boats 7 buildings, 70 rooms and over 20,000 sqft of living space, its real value lies in its expansive lot. It is situated in Brentwood on over 112 acres. It is no wonder Robert Taylor chose this property to build his ranch, its seclusion is only matched by its beauty. If sold, this property could potentially break records as the most expensive property sold in 2010!

Tuesday, June 15, 2010

The Best Real Estate For Los Angeles Tourists

Forbes.com recently highlighted the "Best" hotels in Los Angeles. It should come as no surprise, that most are located in Beverly Hills and the others are very close by. While pop culture tends to focus on Beverly Hills mansions, these hotels should not be overlooked. The wide array offers something to satisfy every traveler, from the
traditional luxury of the Montage (shown left) to the modern contemporary appeal of the SLS Hotel (shown below). There is more to these hotels than high thread counts and designer finishes.

Make sure you try the restaurants! Parq offers 5-star service, delicious dirty martinis and a classic menu with a surprisingly modern flare. In a sharp contrast, Bazaar at SLS offers a one-of-a-kind experience where you will be served wild tapas, like the foie gras wrapped in cotton candy!

Regardless of your choice, Los Angeles will not disappoint, that is if you can afford to indulge in some of

marvelous hotel 'real estate' listed in the article below...



Thursday, June 10, 2010

Bel-Air Sale Breaks Records!

Recession? What recession, at least that's what I would say if I were a member of the elite 1% of the world's population. A 48,000 square foot palace named Le Belvedere was just purchased in Bel-Air. It was originally listed at $85 million 15 months ago, but the developer admitted that it sold between $50-$70 million... well above the $46.5 million sale of a compound in Colorado that held the prior record for the year. I will spare you the gory details of this homes luxury except for one quote from the LA Times article, "The average room size is about 1,100 square feet, bigger than entire homes in less fancy neighborhoods."

However, there is a positive undertone to this sale. While the rich may by or sell real estate freely, as they are less affected by the subsequent loss in equity than the average Joe, a sale of this size indicates confidence. Confidence that the market in Beverly Hills it at worst hit its bottom. This is not representative of every real estate market, but true recover will start from the top and work its way down. If you would like to read further into the outrageous details of this over-the-top home check out the link below.

>> Click here for more information <<

Is It Time To Buy Yet?

Despite what many real estate agents are saying we have not hit the bottom yet. Some analysts expect prices to decline as much as 15% more before plateauing.

>> Click here for more information <<

The Most Expensive Homes In Beverly Hills!

REP, an up and coming new media company, has been producing some HOT videos! Check out this spectacular footage of some of the most expensive homes in the world... all located here in sunny California!


Monday, April 26, 2010

LA River Project To Break Ground In July

After 10 years of planning the L.A. River project is set to break ground this July in Glendale. It will be the first phase of an extensive network of parks and paths that will run alongside the L.A. River. I can't wait for it to be completed so I can check it out!

>> Click here for more information <<

Thursday, April 22, 2010

Stunning Architectural Below The Hollywood Sign!


Stunning architectural just below the Hollywood sign is be offered for sale, but has not been officially put on the market. More info to come soon!

New York's Median Home Price Increases By 35%

New York’s median prices are up 35%! This is a result of the current trend towards the purchases of larger more expensive homes. Real estate transaction had slowed in all sectors as both the wealthy and average Americans were cautious to invest. So is this a signal of improvement? Potentially. However, we will have to pay attention to see if this trend catches on in other major markets.

>> Click here for more information <<

Monday, April 19, 2010

Newly Constructed Artchitectural In Santa Monica


Newly constructed architectural in Santa Monica for under $2 million! Granted it is on a smaller lot, it uses the space efficiently and is a short walk from the beach. I love the design aesthetic, combining concrete, class, and wood finishes.

Sunday, April 18, 2010

Tubleweed Blowing Through Los Angeles?

Los Angeles is riddled with lots... Once prime commercial areas are no longer attractive to developers. Since 2007 commercial real estate in Los Angeles has plummeted to in value up to 60%. Abandon projects have led to parking lots where 76-story condominium towers were once planned. The current state of the commercial market is definitely reason for concern, as it reflects the poor condition of our economy.

>> Click here for information <<

Wednesday, April 14, 2010

Is That Whale Your Having?

Black market whale meat was being served at a restaurant in Los Angeles, CA. As soon as this was brought to the attention of authorities the restaurant was promptly shut down. Unfortunately it gets even more disturbing, as forensic evidence traced the meat to whales slaughtered during a "scientific" charade conducted by the Japanese. While I could argue that selling illegal meats is detrimental to commercial real estate, I prefer to share this article in hopes that it will spur action. Consuming animals that are on the brink of extinction is not only unethical, it is just wrong.


>> Click here for more information <<

Save The Peak.

The effort to preserve the land around the Hollywood sign from being developed received a 16-day extension to come up with the remaining $1 million needed to purchase the land. So far the city has raised $11.5 million. Check out the link below to learn more.

>> Click here for more information <<

Monday, April 12, 2010

Coldwell Banker Is Raising The Bar On YouTube

Coldwell Banker Youtube channel is taking real estate searching online to the next level. Check it out, its interactive map lets you see a property's location and then immediately see a virtual tour of the property... Good stuff.

>> Click here to check it out <<

Sunday, April 4, 2010

Water, Wood, Glass & Steel


Another gorgeous architectural has been unveiled in Beverly Hills. Remodeled from the ground up 1125 Carolyn Way offers modern finishes and beautiful mature landscaping. We are still waiting for a property Web site to be unveiled, but in the meantime check out this teaser photo.. List price $5.5 million.

Thursday, April 1, 2010

The Rundown - Real Estate Tax Credits

Please reference the table below. It was created by Marty Mead of Keller Williams, and is an excellent summation of current real estate tax incentives and their relevant deadlines.

Thursday, March 25, 2010

Save The Hollywood Sign

The city of Los Angeles, non-profit groups and KPCC have teamed up in a last effort to save the area surrounding the Hollywood sign from development. They are hoping to purchase the surrounding property for $12.5 million, but in order to do so they must raise an additional $3 million by April 14. If the money is not raised, the property will be sold to real estate developers for $22 million, and a series of ridge top mansions will be built on the land.


>> Click here for more information <<

Wednesday, March 24, 2010

B of A To The Rescue?

Today Bank of America will be announcing a new program that will assist homeowners who owe more than 120% of their homes value. It will be 5-year process involving principal reductions to bring mortgages down to 100% of home value. However, unlike most plans that have "helped" homeowners, this one requires on-time payments...


>> Click here for more information <<

Monday, March 22, 2010

Stunning Newly Constructed Architectural

Stunning architectural hits the market tomorrow. Stainless steel, concrete and glass combine to, as listing agent Aaron Kirman states, "raise the bar for architectural homes in Los Angeles." I think I agree... do you?

Friday, March 19, 2010

Zoom Zoom

High-speed trains are finally coming! President Obama has 'stimulated' this process by offering $8 billion for 13 high-speed corridors across the US, which includes a route between San Francisco and the Los Angeles!! This initiative has international companies flocking to the US to take part in this revolution. Perhaps it will also end up drawing foreign investments... This will not just make travel more convenient, it will improve the value of our communities and subsequently the value of our properties!

>> Click here for more information <<

Up, Up & Away

Good news. From February 2009 to February 2010 the average California home price increased by 11%! Analysts attribute this to a decrease in California foreclosures and an increase in high-end sales. This is not just of interest to consumers, but to banks as well. Banks have stronger assets, as the loans they wrote last year are worth less than the assets that secured them. In other words, banks have had such a rough patch because mortgages are secured by real estate. If that real estate loses value, then the mortgage has not guaranteed way of being repaid. On the flip side, when a bank forecloses on a home that has a higher value than the outstanding debt, it can still recover the balance of the mortgage or even a profit.

>> Click here for more information <<

Thursday, March 18, 2010

Sell! Sell... Sell?

Ever since the announcement that the state property would be sold to try to salvage the state's deficit Californians have been in an uproar. But the anger has died down, as the properties are not selling. Most notably, the O.C. Fairgrounds recently were up for auction. However, the bids came in well below expectations so the land was not sold. The state is recklessly trying to sell off its assets when they are clearly undervalued. It should take its foot off of the gas pedal, and focus at streamlining its systems. Perhaps by halting the spending millions of dollars for the governator's self-serving celebrity clad advertisements for California? Thoughts...?

>> Click here for more information <<

Wednesday, March 17, 2010

Homes For The Homeless

Over the years Santa Monica has had a love/hate relationship with its large homeless population. However, since 2007 civil rights activists and Santa Monica's residents have been fighting with the homeless against persecution and harassment by police. This has led to the development of numerous low-income housing developments, so that these people can have a place to call home. In one of the more expensive areas of Los Angeles, these developments offer rents from $300-$400 per month... This is extremely inexpensive for Southern California in general... And I am pleased with the benchmark Santa Monica is setting. Ignoring a problem, as Santa Monica had in previous years, only makes it worse. We need to find ways to reintegrate these people back into society, and finding a place for them to live is the first step.

>> Click here for more information <<

Wednesday, March 10, 2010

The Kitchen.

A kitchen will make or break the deal for me. And this kitchen, from the Sabine on South Lake development in Southeast Pasadena, is definitely a winner.

Mortgage Applications Continue To Rise

Although more people are applying for mortgages, the number of people pursuing refinancing is dropping. Perhaps this is because those who can afford to refinance have already done so? Interestingly, the demand for homes is increasing, but there are still clear signs that we will be hearing about massive foreclosures well through this year...

>> Click here for more information <<

Sunday, March 7, 2010

Pricey Real Estate

Some pricey real estate, shows up in a place where you might not expect it...

>> Click here for more information <<

Saturday, March 6, 2010

11,300,000 Homeowners Are Upside Down

11,300,000 homeowners owe more on their homes than their homes are worth! These borrowers will have a VERY difficult refinancing, since they lack enough assets to secure a mortgage. Furthermore, they also will have trouble selling their home as they will have to pay the bank the difference between the selling price and the balance of their loan...

>> Click here for more information <<

When The Economy Strays, Criminals Get Away?

As California struggles with its budgets, jailed inmates in Los Angeles are enjoying early releases... Yes that is correct, the city would prefer to let criminals loose before cutting jobs. How does this relate to real estate? Good questions. Where will these criminals go? Back to their neighborhoods. It is not right. We need to be able to stand by our laws regardless of economic conditions.

>> Click here for more information <<

Friday, March 5, 2010

The Closet.



To some people a closet can make or break a deal. Check out the master bedroom closet from a unit at the newly developed Roxbury Place, adjacent to Beverly Hills.

Whistle While You Work

Ways to encourage real estate purchases:

#1 - Tax incentives
#2 - Informed representation
#3 - Employment

We already know that #1 and #2 are already in effect, but #3 is beginning to look promising. Even with California's unemployment rate well above the national average, economists are saying that the worst is over. However, it is important not to focus on the unemployment rate. We can expect the unemployment rate to increase slightly as people being looking for work as new jobs become available. In January California added 32,500 jobs in multiple sectors.

This is crucial to the real estate recovery.

People need jobs to buy real estate, and to maintain mortgages.


>> Click here for more information <<

Thursday, March 4, 2010

Good News?

Northern California is showing signs of true recovery in the housing market. Our northern neighbors saw multiple offers for 36.6% of the homes sold in January. And although this figure includes foreclosures, multiple offers mean there are parties competing to buy the same property. However, the issue analysts are concerned about is the growing number of shadow properties. Shadow properties are homes that have already been foreclosed, but that have not been placed on the market. If too many of these properties get listed simultaneously it could cause another decline in home values.

>> Click here for more information <<

Wednesday, March 3, 2010

Stunning NEW Development In Los Angeles

ULTRA-MODERN newly constructed development opens its doors and already has 1 unit sold and 4 units in escrow. Take a look at this place. Stunning.

>> Click here for more information <<

Low Rates Stimulate Growth.

According to an analysis conducted by the Fed, the housing bubble was not caused by its low rates. This information was released to help bolster support for low current and future rates. The bottom line: low rates stimulate growth, not trouble. However, whether rates are high or low, it comes down to taking personal responsibility. We all need to read the fine print to make sure we are not getting in over our head.

>> Click here for more information <<

When The Rates Are Low, People Will Borrow Money

Delinquent mortgages aside, new mortgages are on the rise. It seems that regardless of impending foreclosures, the banks are still making loans. Or rather, the rates are SO low right now (4.95 for a 30-year fixed), that borrowers are applying for new mortgages and homeowners are refinancing. Will this be enough to balance bank books...? We will have to wait and see.

>> Click here for more information <<

Monday, March 1, 2010

Will Record Mortgage Delinquencies Prohibit Recovery In The Real Estate Market?

I am constantly being asked, "When will the market improve?" The truth is that no one knows for sure, but I feel comfortable in suggesting that a true recovery will not happen until the mortgage crisis truly subsides. Excessive mortgage delinquenices give way to excessive foreclosures. And according to the AP during the fourth quarter of last year almost 7% of mortgage borrowers were 2-months or more behind on their payments. That is very troublesome.

>> Click here for more information <<

Thursday, January 28, 2010

Do Not Be Confused By Sensational Headlines

Recently fans of Michael Jackson purchased a house he rented in Las Vegas for over $3 million. The story is being publicized as a sign Las Vegas market conditions are improving. I completely disagree, when it comes to the Las Vegas market which was completely over-inflated well beyond California. This was the biggest sale in over a year, for the city of Las Vegas. Developments are the major force in Las Vegas real estate transactions. Unfortunately, the only development seeing substantial returns is the City Center, and even they have not been able to sell out. Research your area, and your prospective property before purchasing. Don't fall victim to sensational headlines.

>> Click here for more information <<

Are Foreclosures A Good Deal?

Foreclosures have not always been a good deal. Sometimes they can even cost more than purchasing a non-bank owned property, when you consider the repairs that the buyer will end up paying for. So is there good news? Yes. Across the nation foreclosed properties are selling at prices 28% below (on average) similar properties that are not in foreclosure. Remember though, that we also need to take into account the prevalent practice of allowing homeowners to price their property and many of them have priced their properties well above market value.

>> Click here for more information <<

Tuesday, January 26, 2010

The best news from the worst place?

Freddie Mac's CEO believes the housing market is about to plateau before it rebounds. However, it is hard to trust the man at the helm of Freddie Mac. I equate it to trusting the chef at a restaurant where I got food poisoning... but read the article and tell me what conclusions you arrive at.


>> Click here for more information <<

Tuesday, January 19, 2010

Home Values In Los Angeles Are UP!

GREAT NEWS! Home prices are up in Los Angeles. In December 2009 prices increased 1.4% when compared to November 2009, and by 4% when compared to December 2008. We have all heard news about how the volume of residential real estate sales has increased, but could a steady increase in home values be a light shining at the end of the tunnel we have been trapped in since the mortgage crisis broke. Or has the market been falsely inflated by government incentives?

>> Click here for more information <<

Thursday, January 14, 2010

Earthquake Relief

Sorry it has been a few days since I have posted. Life has been really busy, with work and a pending move. But today I am not writing about real estate. Today I am writing to inform you all where you can go to make a donation to the victims of the earthquake in Haiti. Every dollar helps, and they certainly need it.

>> Click here for more information <<

Saturday, January 9, 2010

Banks Are Ready To Write Mortgages On Vacation Homes

At the height of the financial crisis it was hard to get a loan for a primary residence, let alone a vacation home. However, now banks are prepared to write mortgages on second homes. Though there seems to be hesitation on the part of borrowers. With the national unemployment rate hovering around 10% this hesitation seems more than justified.

>> Click here for more information <<

Friday, January 8, 2010

Improving Real Estate Conditions = Upward Trend In U.S. Stock Market

U.S. Stocks have steadily increased to a 1-year high, hovering around 10,600 points! While holiday sales have assisted the stock market, it is an “easing real estate concern” that has significantly bolstered the market. Across the nation sales are up, and in many areas home values are also on the rise. The real estate industry was at the heart of our financial crisis and it looks as if it will also be at the crux of our financial salvation.

>> Click here for more information <<

Westchester Sepulveda Boulevard Improvement Complete

Westchester residents have reason to celebrate as a 2-mile stretch of Sepulveda Boulevard running through their city has recently been improved. One of many public projects, this renovation has added landscaping and increased the street’s width to accommodate heavier traffic. I expect this will positively affect neighboring real estate as the city did an excellent job (see link below). Furthermore, stay tuned for news on other public projects in the LA area.

>> Click here for more information <<

Thursday, January 7, 2010

Shanghai Home Values Increase By 68%

What if your home’s value increased 68% in one year? Yes. One year. That is what residents of Shanghai have experienced. It will be interesting to see what Chinese homeowners do with their newfound equity. Will they make smart decisions...? Or unload their equity in lines of credit like many Americans did before the market crash.

>> Click here for more information <<

Happy New Year?

Happy New Year! I just got back into the country and was disappointed to see that interest rates have gone up past 5%! Though it does seem from what I have read thus far that rates are on a slight downward trend. However, this is a far cry from the 3.5% that was forecasted for January/February 2010 just weeks ago... I will keep you all posted.

>> Click here for more information <<