los angeles real estate: Los Angeles Homes - Median Prices & Number of Homes Sold
- 02/14/10 04:18 PM
Los Angeles Homes - Median Prices & Number of Homes Sold The CLAW MLS published the following two graphs which indicate a positive trend developing in the Los Angeles area from Downtown to the Ocean. Median Prices appear to have bottomed in the first quarter of 2009 and have gradually increased through to the fourth quarter of 2009. While this trend-line is good news for homeowners it clearly shows that the Median Home Prices are still way off the peak reached in the second quarter of 2007. The Number of Homes Sold also appears to be trending upwards, indicating increased activity in … (3 comments)
los angeles real estate: Multi-Million Price Reductions - Stories of Multi-Million Dollar Sales in Los Angeles - Part 2
- 02/01/10 12:30 AM
$7,050,000: A Short Sale on Donhill Drive in Beverly Hills. Originally listed in 2008 for $16,500,000, the price was reduced to $14.9 Million .... then to $12.9 Million ... and then further reduced to $11.5 Million. After being offered For Lease at $100,000 per month with no takers, the property was re-listed For Sale at $8.9 Million.A few months later the price was further chopped to $7.2 Million. This 6-Bed 9-Bath Balinese-style home constructed with imported materials from all around the world, features a theater, wine cellar and infinity pool.
$6,300,000: This 6-Bed 5.5 Bath ocean view Villa on Pacific … (4 comments)
los angeles real estate: Multi Million Price Reductions - Stories of Multi-Million Dollar Sales in Los Angeles - Part 1
- 01/31/10 10:31 AM
There have been some mega-million dollar home sales in Los Angeles in January 2010, each with their own fascinating story highlighting the huge price reductions in mega million dollar homes. $19,500,000: (Previous Sale Price: $19,150,000) Situated on Oriole Drive in the Hollywood Hills above the Sunset Strip, this Tuscan Villa measuring almost 10,000 sq ft sold for $19.5 Million. Built in 2006, the 6-Bed 8.5 Bath home features a long Cypress-lined driveway leading to a large motor-court, a wood burning pizza oven and a wine cellar. It's interesting to note that the property was sold in 2006 for $19,150,000. In 2008 … (3 comments)
los angeles real estate: Nicolas Cage Loses Two Properties in Foreclosure
- 11/13/09 06:26 AM
In July and September of this year I blogged about Nicolas Cage selling his Bel Air Mansion for a hugely reduced price. The property located on Copa De Oro Road in Bel Air has been in escrow since the begining of October and the CLAW MLS indicates the agent is "Looking for Back-ups". Today News comes out of New Orleans that Cage has lost not one, but both of his homes in New Orleans in a foreclosure auction held yesterday. Both properties have been purchased for a total of $4.5 Million by Regions Bank, his lender. Apparently no-one bid against … (15 comments)
los angeles real estate: Mega Leases in Los Angeles
- 11/08/09 07:57 AM
Leasing a Luxury House or Condo is an interesting job, especially when one considers the monthly rentals achieved. Originally listed at $15,000 per month in this full-service 24-story condo tower at The Remington at 10727 Wilshire Blvd, a 2-Bed 3-Bath condo measuring 3500 sq ft recently leased for $12,000 per month. The fully furnished unit includes the services of a house-keeper twice a week. (Left Pic) How about a 3000 sq ft 3-Bed 2.5-Bath condo with an awesome view overlooking Santa Monica Beach which recently leased for $10,000 per month? (Right Pic - View from balcony)
Renting a beach … (9 comments)
los angeles real estate: Perseverance Pays Off - Holmby Hills House Sells for $13,200,000
- 10/30/09 03:08 AM
Perseverance Pays Off - Holmby Hills House Sells for $13,200,000 Originally listed at $27,500,000 this 12,000 sq ft 9-Bed 9-Bath has finally sold in Holmby Hills (in the Bel Air/Beverly Hills area of Los Angeles) for $13,200,000 - 50% of it's original Asking Price! The MLS describes the property as a "Grand 1930's Hollywood Georgian, completely remodeled." The house includes a hidden wine-cellar, screening room and sauna. The property was originally listed in May 2008 and was on the market for 429 days before it finally sold ..... proving that Perseverance Pays Off, give or take a few million in the pricing. … (7 comments)
Note: None of these are REO's, however there are three Short Sales in this list *** … (1 comments)
los angeles real estate: Penn Buys in Malibu for $3,800,000
- 10/10/09 06:37 AM
Penn buys in Malibu for $3,800,000. No, I'm not referring to myself but rather to the Oscar-winning actor, Sean Penn, who recently purchased a 4500 sq ft ranch-style home in Malibu. The 1.4 acre property on Grayfox Street in Malibu, was originally listed for $8,750,000 and subsequently reduced to $4,449,000. After being on the market for about 10 months, Penn closed escrow in August this year for $3,800,000. Seems like he's not only a great actor but a great negotiator too!
… (3 comments)
los angeles real estate: Sold, Sold, and Sold again
- 09/21/09 12:59 AM
Sold, Sold, and Sold again .... 1277 S Beverly Glen #107, Los Angeles, CA 90024. It's not uncommon to resell a property within a few years, but I recently sold the same condo for a third time in 6 years which must be something of a record. In 2003 I represented a Buyer who purchased the condo. It was listed for $425,000 and within 9 days (and after multiple offers being received) we were in escrow for $444,000. In 2005 the Owner relocated for work reasons. I listed the condo for $719,000 and it sold for $710,000. This time around it … (3 comments)
The Malibu Colony house where the ex Wells Fargo Vice President partied is officially on the market for $21.5 Million. The MLS listing describes the house as "A stunning Architectural oasis. Walls of glass create an unparalleled indoor/outdoor environment". The Listing is held by the Brokerage of Hilton & Hyland (Paris Hilton's dad's business) and the Listing Agent is Chad Rogers, one of the Realtors featured in Bravo's reality TV series "Million Dollar Listing". Note: The pic above is from the previous Listing Agent's website (Irene Dazzan-Palmer with Coldwell Banker) … (4 comments)
los angeles real estate: BOOM - What was that?
- 09/11/09 12:56 PM
"BOOM" - What was that? A few minutes ago I heard a sonic boom as the space shuttle entered the earth's atmosphere and prepared to land at California's Edwards Air Force Base. I knew the landing had been delayed but I forgot it was happening this afternoon. Wow - it was really loud! The windows and glass sliders in my condo shook from the impact. Our cat ran under the bed! I thought we were having an earthquake - but fortunately everything was okay.
… (16 comments)
los angeles real estate: Nicolas Cage Bel Air Mansion - To be sold by Auction
- 09/11/09 02:31 AM
In July of this year I blogged about the massive price reduction on Nicolas Cage's Bel Air mansion at 363 Copa De Oro Road in Bel Air (Los Angeles). After being on and off the market for almost three years, the List Price for the property was reduced from $35 Million all the way down to $17.5 Million. Well, even at 50% off there were no takers for the property. Today on the MLS there has been a whopping change in price .... The property is now listed at $9,950,000. The property will be subject to a "sealed … (15 comments)
los angeles real estate: The Hollywood Bowl - A Los Angeles Cultural Landmark
- 08/29/09 04:24 PM
The Hollywood Bowl - A Los Angeles Cultural Landmark As far back as 1922 The Hollywood Bowl (noted as the largest natural outdoor amphitheater in the United States with an audience capacity of 18,000) has hosted many of the world's greatest musicians and is the perfect venue for an evening of music under the stars. Located at 2301 Highland Avenue in Hollywood (where Highland meets the Hollywood Freeway), the Hollywood Bowl is an ideal setting for fireworks and pyrotechnics displays. The 2009 Season has featured outstanding classical and jazz performances by the Los Angeles Philharmonic and big-name artists including Herbie Hancock,Diana Krall, Andrea Bocelli, Natalie … (11 comments)
los angeles real estate: "The Great Greek" in Sherman Oaks (in the San Fernando Valley of Los Angeles) - Highly Recommended Greek Restaurant
- 08/27/09 05:13 PM
"The Great Greek" in Sherman Oaks (in the San Fernando Valley of Los Angeles) serves what is most probably the best Greek food in all of Los Angeles. The casual atmosphere is warm, friendly and inviting and the food is delicious. The Menu offers a great selection of hot or cold appetizers .... including tasty Hummus with pita bread, outstanding Spanakopita and Meditteranenan-styled eggplant stuffed with fresh tomatoes, onions, garlic, herbs and feta cheese (really good!). The Char-broiled chicken-breast kebabs are wonderfully satisfying and served with some of the best oven-roasted potatoes I've ever eaten. Roast Lamb is the house specialty … (10 comments)
los angeles real estate: The Ritz Carlton in Downtown Los Angeles
- 08/23/09 06:11 PM
The Ritz Carlton in Downtown Los Angeles I rarely spend time in downtown Los Angeles. I'm usually in the area only a few times a year so whenever the occasion arises I take note of what's happening since I was last there. This week I noticed the progress in construction of the Los Angeles Ritz Carlton. The $900 Million development features a selection of one, two and three-bedroom homes and 12 Penthouses in a 54-floor tower. There's a fitness center, pool and terrace on the 26th floor, and a Ritz Carlton signature restaurant on the 24th floor. Prices start at $1.4 Million … (4 comments)
los angeles real estate: America's Most Stressful Cities
- 08/23/09 06:03 PM
America's Most Stressful Cities Living in any major city involves stress that's not experienced in quieter, more remote towns. "Sinking property values, high unemployment and prices, and poor environments add to the pressure felt by residents in these metros" according to a recent article on Forbes.com. Forbes.com published a current list of "America's Most Stressful Cities". I was curious to see where Los Angeles (my home) featured on the list and unsurprisingly, Los Angeles takes second position. Los Angeles has a population density of 2732 people per square mile and ranks 4th on the country's list of "Highest Cost of Living". Chicago in is … (15 comments)
los angeles real estate: Wordless Wednesday - Louis the Dog can't swim
- 08/19/09 01:19 AM
People I know have a dog called Louis. Louis chases dragonflies all day and forgets there's a swimming pool in the middle of the yard. Problem: Louis the Dog can't swim and keeps falling into his owner's swimming pool and sinks like a stone. So they came up with a safe solution. It's a dog's life in Beverly Hills! … (26 comments)
los angeles real estate: Beverly Hills One-Bed Condos For Sale | Beverly Hills Realtor
- 08/09/09 06:26 PM
Beverly Hills Condos For Sale - One-Bed Condos - Market Report on 8/10/09 Number of One-Bed Condos For Sale: 9 Lowest Priced One-Bed Condo: $450,000 Highest Priced One-Bed Condo: $995,000 Smallest One-Bed Condo Available: 602 sq ft Biggest One-Bed Condo Available: 1224 sq ft Oldest Listing: 178 days (Listed at $995,000 with no price change) For current listings of all Condos For Sale in Beverly Hills and surrounding areas, please call me: Stewart Penn - Penn Properties - (310) 844-6515 Information obtained from the CLAW MLS and deemed reliable but not guaranteed … (2 comments)
los angeles real estate: Malibu Condos For Sale - Sky-high Prices for Ocean Views
- 08/09/09 07:34 AM
Malibu Condos For Sale - Sky-high prices for Ocean Views On August 8, 2009 there were a total of 80 condos For Sale. The highest priced listing was a 2-Bed 2-Bath condo measuring 1200 sq ft with a List Price of $3,000,000 ($2500 a sq ft). Also available in the same 42-unit complex (The Malibu Outrigger on Carbon Beach) is a 900 sq ft 1-Bed 1-Bath condo listed for $1,925,000 ($2138 per sq ft). It's interesting to note that in 2008 a total 27 of condos sold in Malibu with prices ranging from $440,000 for a 2-Bed unit on … (4 comments)
los angeles real estate: Hugh Hefner Sells Bel Air Mansion for $18 Million
- 08/03/09 04:27 AM
Originally listed at $27,995,000, this Bel Air - Holmby Hills property adjacent to Hugh Hefner's Playboy Mansion has sold for $18 Million. After being on the market for 126 days the Seller accepted 65% of what he was originally hoping to achieve. And who was the famous Seller of this high-priced mansion ....? None other than Hugh Hefner and his ex-wife Kimberly. Described as "an exquisite 2 Acre Country English Manor" by Listing Broker Coldwell Banker, the 5 Bed 7 Bath mansion measures over 7300 sq ft and is set on a 100 000 sq ft. The Buyers were represented … (9 comments)
Los Angeles Homes - Median Prices & Number of Homes Sold
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