The Beverly Hills,CA 90210 Ultra Luxury Vancat Land Market Report is published!!
Vacant Land Market Report in Beverly Hills, CA 90210
The ultra-luxury vacant land Market Report is a bit different from the Ultra Luxury Single Family Homes in Beverly Hills, CA 90210.
Most people from the Globe watch the properties very closely. Sometimes the listed properties do not tell the entire story.
Currently there are six properties listed in the Multiple Listing Service from $6 million and up to $20,000,000.
Not listed there are about another five or six between $9 million and $49 million. (not counting one that is quietly marketed for $1 Billion Dollars, but that is another Blog Post)
Periodically I receive a contact from an agent asking if one of my currently not- listed property is it still available or did the owners decide to go a different route? Some times that is when the work begins. Some sellers have decided to do their own development and you as well as the potential buyer have missed out.
Other times it becomes a negotiating game to get either the listing back or at the minimum get a Single Party Agreement. Other times the sellers might be on vacation and it is not a high priority to focus on it.
Then again there are many agents who do not keep up with the withdrawn or expired Ultra Luxury Land Activity. Needless to say I watch this activity very closely.
Once in a while the situation is different, the seller is a reluctant developer, wanted to sell the property but it did not sell while he was going through the entitlement process. Hence not wanting to lose the valuable approvals was forced to start the project. Interestingly one such type of Sale took place in Beverly Hills. The home was in mid construction and another developer approached the seller and a deal was made. In this particular incident the Property Sold for $4,525,000.00 just imagine the lot size was only 14,000+ sq. ft.
Another Vacant Lot was equally interesting just look at the details: This is currently there were two separate APN numbers. There were two homes with swimming pools that were demolished several years ago. Most of the Utilities were already in. As we speak the property is on septic. Sewer connection is available through a nearby street. This was clearly an opportunity to develop a private compound; or 1-2 homes. What an extraordinary opportunity to own flat ready to build vacant pads on almost an acre of land. Needless to say this one sold for $4,650,000.00.
Now if you are looking for a Beverly Hills Realtor who is keeping up with the Active as well as the Off Market Opportunities, please reach out to me directly and I will find you the Land that best suits your needs.
If you are considering buying or selling a home, a luxury home, luxury investment real estate, luxury vacation homes, or luxury beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Marina Del Rey, Venice or Malibu, feel free to contact me at310.486.1002 (m) or homes@endrebarath.com or visit one of my websites at http://www.endrebarath.com. I am a Pet Friendly Realtor and I contribute a portion of my commission to local animal rescue organizations.
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