How is the activity in the Ultra Luxury Home Market in the greater Los Angeles area?
This question is asked by virtually everyone on the Globe. Not only from the Billionaires that are looking to purchase a home either in Bel Air or Beverly Hills, but from all the prognosticators of real estate activity. Beverly Hills, Bel Air and Holmby Hills are not only the leaders in the Ultra Luxury Market in the United States, at the same time we are the trend setters for the rest of the country and the world.
Let us look at the “On the Market Activity”. As you are reading this post, let me clarify, the definition “on the market” is not as clear, even for some of the local Realtors, hence it could be convoluted for someone looking in from other parts of the nation or from Globally as well. These lines are blurred.
A listing will appear north of a hundred million and invitations go out to the Real Estate Community’s agents who have been known to have clients in the price range. The property might appear in the Multiple Listing Service (MLS) or it might not. Generally, there would be a strong marketing that would accompany such a trophy property.
Agents need to be connected to the network of Ultra Luxury Listing Agents or have a system of tracking this highly exclusive market. Having a great memory helps as well since the listings do not stay on the radar for long😊!
I will use as an illustration “the Ultra Luxury Homes” that are currently on the market:
(1) There is a $250-million-dollar home at 924 Bel Air Rd, Bel Air, CA 90077 with all the amenities one could imagine included in this Ultra Luxury Home. (Not in the MLS due to listing expiration) Still for sale? Absolutely!
(2) Less than two miles from it another Ultra Luxury Home listed for $200 million on 594 S. Mapleton Dr., Los Angeles, CA 90024 in the MLS.
(3) From that one about 4 miles away in the Beverly Hills 90210 on 9505 Lania Ln., there is one for $129 million.
Anyway, you get the idea…
There are about ten to fifteen other homes from $100 million to $180 million on the market, but not all are listed in the MLS or any other platform. So, if you are considering acquiring a Beverly Hills Ultra Luxury Trophy Home please reach out to me directly for a confidential discussion and private viewing of these fantastic homes.
There have been a handful of recent sales that have had significant impact on the greater Los Angles Ultra Luxury home prices. This of course we can discuss when we are ready to negotiate on one of these Trophy Properties.
In case you are wondering, “Owlwood” the one time residence of Sonny & Cher and of course “The Playboy Mansion” of Hugh Heffner to name a few. Oh I would be remiss if I did not mention the Spelling Estate.....
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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