Observation about Wine and Real Estate in the greater Los Angeles area....
One of my client’s wife decided to invite friends, relatives and neighbors to their home under the pretext of holding a “Blind Wine Tasting”. Keeping in mind they used to have a winery in Napa, as you might guess Diane and I were not going to miss this event.
The group that gathered together was an eclectic bunch to say the least. There was a wide range from educators, attorneys to retirees. The Socioeconomic composition of the group was varied as well. The common bond was my client and the location, three homes away there is a famous architectural home owned by a Billionaire and the list goes on and on.
We all bought two bottles of wine with us and they were immediately placed in a brown paper bag, hence it was a true “blind tasting”.
Before we started, my client explained that wine tasting is very subjective matter and there are no right and wrong answers. It mostly depends on what you prefer and what you really like or love, determines what you buy and drink. He also indicated that there is a tendency to like the first wine you taste and based on that most of the other wines will be skewed in our minds.
This reminded me of showing homes to potential buyers in Los Angeles. There are so many people with different tastes and they are all very subjective, no right or wrong answers. If you happen to like view homes in the Hollywood Hills, then it is okay to only search for homes that have views. Just as if you happen to like architectural homes vs. Mediterranean homes that is okay too. Never the less some people will look at a home that is not to their liking and make a judgment about that home.
Just as there are home buyers who want everything to be move in ready, then there are others who want to fix and remodel to their tastes. It all comes down to their own individual likes and dislikes and ultimately their budget ends up determining where they end up buying, based on Location, Size and Condition of the home.
Just like with wine, the price points could vary and the tastes as well. Interestingly we brought with us one white and one red. In case you are wondering both were rated by Robert Parker as a 94 pointer. Turned out the white one won by default, since we were the only one who brought a white. Now the red one placed third place which was more impressive, since there were at least ten or more reds to choose from.
I have always considered I had a good wine palate just as I considered myself a good Realtor who can get the home to your liking no matter how discriminating your taste is.
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 at 310.486.1002 (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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