Beverly Hills, CA Real Estate News

By Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002
(Berkshire Hathaway HomeServices California Properties)
If you have been considering buying, here is a great time to do so, the average interest rate as of Wednesday Nove 22, 2023 went down six basis points to 7.249 APR from a high of 7.849.Beverly Hills, CA 90210Fri Nov 24, 2023This week the median list price for Beverly Hills, CA 90210 is $9,872,500 with the market action index hovering around 27. This is about the same as last month's market action index of 27. Inventory has increased to 164.The market has shown some evidence of slowing recently. Both prices and inventory levels are relatively unchanged in recent weeks. Watch the Market Action Index for changes as it can be a leading indicator for price changes.Market SegmentsEach segment below represents approximately 25% of the market ordered by price. Median Price Sq. Ft. Lot Size Beds...
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By Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002
(Berkshire Hathaway HomeServices California Properties)
There are many ways to conduct business what is your style? Is it with Charm & Savvy? Let me know your thoughts. I want to hear from those who are successful achievers in our profession! "... you can go into almost any business and have no hurdles to leap. That's never the case in selling, where every day you're confronted with new obstacles to overcome..." Tom Hopkins"...our standard of living is high because of the free enterprise system and the salesperson is the heart and soul of that system..."  Zig Ziglar" ... Just as you often judge other people by the initial impact they have on you, so are you likely to be judged yourself in the fist few moments of interacting with someone..." Ann Marie SabathWishing you a safe and healthy life and I look forward to your comments. If you are lo...
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By Valerie Fitzgerald, Luxury Real Estate in Beverly Hills & West LA
(Coldwell Banker Residential Brokerage)
Even though the home buyer tax credit expired on April 30, 2010 and won’t be renewed, there may never be a better time to buy a home than today, according to the National Association of Home Builders (NAHB). Many outstanding opportunities still exist for home buyers, but they may not be around forever. “The home buyer tax credit was just one of many factors motivating Americans to buy homes,” said NAHB Chairman Bob Jones, a builder and developer in Bloomfield Hills, Mich. “But buyers can still take advantage of today’s low interest rates and competitive prices to get a home they may not have been able to purchase just a few years ago.” Besides mortgage interest rates that have been hovering at near-record lows, homes in many markets have become more affordable. Prices have moderated fro...
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By Christophe Choo, Locally Known - Globally Connected
(Christophe Choo Real Estate Group - Coldwell Banker Previews)
Learn more about Christophe Choo and the Christophe Choo Real Estate Group at Coldwell Banker Previews International Beverly Hills. The Christophe Choo Real Estate GroupBeverly Hills Real Estate - http://www.ChristopheChoo.comColdwell Banker Previews InternationalBeverly Hills301 North Canon Drive, Suite EBeverly Hills, California 90210Direct line: (310)777-6342Email: Christophe@ChristopheChoo.comLooking for homes, condominiums or investment properties in the Los Angeles Westside areas such as Beverly Hills, Bel Air Holmby Hills, and the Hollywood Hills?  Find ALL the homes & properties for sale at: Beverly Hills Real Estate - http://www.ChristopheChoo.comLos Angeles Homes  http://www.ChristopheChoo.com
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By Valerie Fitzgerald, Luxury Real Estate in Beverly Hills & West LA
(Coldwell Banker Residential Brokerage)
The Obama administration recently announced that its program to prevent foreclosures has continued to make slow but steady progress, with the number of homeowners who have received permanently modified mortgages up about 13% in April 2010. The 295,348 permanent modifications amount to about a quarter of the 1.2 million trial modifications started under the program, which began last year. During the trial, banks and mortgage servicers reduced a homeowner’s monthly payment for 90 days, with a median reduction of about $500. If the homeowner made the payments and submitted additional paperwork, the servicer made the modification permanent and became eligible for cash incentives from the government. The Los Angeles-Orange County area now accounts for the most active trial and permanent modi...
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By Valerie Fitzgerald, Luxury Real Estate in Beverly Hills & West LA
(Coldwell Banker Residential Brokerage)
Changes taking effect June 1 are part of Fannie Mae’s ‘loan quality initiative’ to cut down on slipshod underwriting and fraud by borrowers. If you’re thinking about applying for a home mortgage this year, here’s some important news: Beginning June 1, your lender is likely to order a second full credit screening immediately before closing. The last-minute credit report will be designed to find out whether you’ve obtained — or even shopped for — new debt between the date of your loan application and the closing. If you’ve made applications for credit of any type — for furnishings and appliances for the new house, a car, landscaping, a home equity line, a new credit card — the closing could be put on hold pending additional research by the lender. If you’ve taken out new loans that are s...
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There are ample reasons why one would want to live in Beverly Hills, but one of the biggest is for the school system. Beverly Hills Unified School District is considered by many to be one of the finest in the country and most certainly in Los Angeles County. For all of you older rich kids, do you remember on the original 90210 when Andrea used to take the bus from the Van Nuys to BH every day so that she could get a stellar education at the fictitious West Beverly  (side note: apparently Beverly Hills is now an ocean front community - perhaps the big one hit and we lost all of West LA -  as the new West Beverly on the CW's 90210 is on a cliff over looking the ocean, but I digress...not that I watch it or anything...)? Anyway, the BH school district was like a swat team looking for a mur...
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By Valerie Fitzgerald, Luxury Real Estate in Beverly Hills & West LA
(Coldwell Banker Residential Brokerage)
RealtyTrac® (www.realtytrac.com), a leading online marketplace for foreclosure properties, has released its U.S. Foreclosure Market Report™ for April 2010, which shows that foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 333,837 properties in April, a 9 percent decrease from the previous month and a 2 percent decrease from April 2009. One in every 387 U.S. housing units received a foreclosure filing during the month. “There were two important milestones in the April numbers that show foreclosure activity has begun to plateau — but at a very high level that will not drop off in the near future,” said James J. Saccacio, chief executive officer of RealtyTrac. “April was the first month in the history of our report with an annual decrease ...
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By Valerie Fitzgerald, Luxury Real Estate in Beverly Hills & West LA
(Coldwell Banker Residential Brokerage)
Home values in most U.S. markets continued to decline in the first quarter of 2010, as the Zillow Home Value Index fell 3.8 percent year-over-year, and 1 percent quarter-over-quarter, to $183,700. However, home values in several large California markets show signs of having reached a bottom, according to the first quarter Zillow Real Estate Market Reports. Housing market conditions varied across the country, and home values in most markets (106 of the 135 tracked by Zillow) continued to decline on a year-over-year basis. Additionally, negative equity across the country remained high, with 23.3 percent of single-family homes with mortgages underwater, up from 21.4 percent in the fourth quarter of 2009. Foreclosures reached a new peak in March, with more than one out of every 1,000 (0.11 ...
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There was a flurry of activity over the holidays from buyers trying to meet the deadlines for the $8000 Federal First Time Homebuyer's Tax Credit, which has now left the building along with Elvis. If you were one of those people who either didn't find your dream pad in time or are now just beginning your hunt, you may be in luck! As of May 1st, Cali has introduced a $10,000 tax credit for first time homebuyers or for buyers who are not property virgins, but are planning on purchasing/owner occupying new construction. Let me just preface this post by saying that I am not an accountant nor an expert on taxes. I did however place a call to my accountant so that I could give you the the quick and dirty, Cliff's Notes version of the bill (AB 183). Here's the skinny as I understand it: The St...
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By Valerie Fitzgerald, Luxury Real Estate in Beverly Hills & West LA
(Coldwell Banker Residential Brokerage)
Freddie Mac recently released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 5.00% with an average 0.7 point for the week ending May 6, 2010, down from last week when it averaged 5.06%. Last year at this time, the 30-year FRM averaged 4.84%. The 15-year FRM this week averaged 4.36% with an average 0.7 point, down from last week when it averaged 4.39%. A year ago at this time, the 15-year FRM averaged 4.51%. The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.97% this week, with an average 0.7 point, down from last week when it averaged 4.00%. A year ago, the 5-year ARM averaged 4.90%. The 1-year Treasury-indexed ARM averaged 4.07% this week with an average 0.6 point, down from last week when it a...
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By Valerie Fitzgerald, Luxury Real Estate in Beverly Hills & West LA
(Coldwell Banker Residential Brokerage)
Pending home sales increased again in March 2010, affirming that a surge of home sales is unfolding for the spring home buying season, according to the National Association of Realtors®. The Pending Home Sales Index (PHSI) forward-looking indicator based on contracts signed in March, rose 5.3% to 102.9 from 97.7 in February, and is 21.1% above March 2009 when it was 85.0; this follows an 8.3% increase in February. The data reflects contracts and not closings, which usually occur with a lag time of one or two months. Lawrence Yun, NAR chief economist, said favorable affordability conditions have been working with the tax credit. “Clearly the home buyer tax credit has helped stabilize the market. In the months immediately following the expiration of the tax credit, we expect measurably lo...
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
If you're not represented by a Realtor/Broker and would like additionalinformation on real estate in Beverly Hills, Westwood or Century City, please do not hesitate to call me: Stewart Penn (310) 844-6515 or email me: stewart@pennpropertiesla.com
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By Valerie Fitzgerald, Luxury Real Estate in Beverly Hills & West LA
(Coldwell Banker Residential Brokerage)
Many first-time buyers are unprepared for the financial burdens of homeownership. Lenders to tell them the maximum they can afford based on their incomes with little regard for the "extras" such as utilities, upkeep and improvements. You're told what your monthly nut for principal, interest, taxes and insurance — the all-important PITI — will be. But likely because you won't know exactly what the other costs will be until you actually move into your new place, they are rarely mentioned. And as a result, borrowers who mortgage themselves to the hilt often find themselves "house poor." They own a home, all right, but they can't afford anything else. Sometimes not even the heat or hot water. Rookies who are transitioning from an apartment are usually better prepared than those who are maki...
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By Michelle Minch, Home Staging Los Angeles and Pasadena, CA
(Moving Mountains Design Home Staging, Pasadena, CA)
Last week I was asked to stage this beautiful $6.9M luxury Beverly Hills home. While I stage many high priced luxury homes, its not often I get to stage one that is fully furnished with beautiful furniture but no accessories and artwork.This was an occupied home staging project. Beverly Hills home staging is in a league by itself. The homes are exceptional and so are the expectations.The home, as I said before, was beautiful, but without accessories, plants and artwork it had no life. Moving Mountains Design added life and excitement by adding appropriately high end accessories and artwork. Here's a couple of before and after pictures of our Beverly Hills home staging project: Media room before home staging by Moving Mountains Design Media room after home staging by Los Angeles home sta...
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By Matt Sweeney, Rich Kids Real Estate
(Rich Kids Real Estate: The Brokerage)
I am pleased to announce that as of today, Rich Kids Real Estate Group has now made the transition from  Deasy Penner & Partners to Keller Williams Beverly Hills. Thanks to all of my amazing friends/clients (the two are synonymous) and supporters, Rich Kids has grown substantially in the last year. While I had a fantastic experience at DPP, I am excited to now be able to offer my buyers and sellers all of the cutting edge resources KW is able to provide. As it pertains to my sellers, KW has some of the most innovative technologies available to provide maximum exposure to your properties, as well as a network of thousands of agents throughout the world. As I have said many times, the days of sticking a listing into the MLS and waiting for multiple offers is long gone. As agents growing i...
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By Matt Sweeney, Rich Kids Real Estate
(Rich Kids Real Estate: The Brokerage)
I am pleased to announce that as of today, Rich Kids Real Estate Group has now made the transition from  Deasy Penner & Partners to Keller Williams Beverly Hills. Thanks to all of my amazing friends/clients (the two are synonymous) and supporters, Rich Kids has grown substantially in the last year. While I had a fantastic experience at DPP, I am excited to now be able to offer my buyers and sellers all of the cutting edge resources KW is able to provide. As it pertains to my sellers, KW has some of the most innovative technologies available to provide maximum exposure to your properties, as well as a network of thousands of agents throughout the world. As I have said many times, the days of sticking a listing into the MLS and waiting for multiple offers is long gone. As agents growing i...
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By Matt Sweeney, Rich Kids Real Estate
(Rich Kids Real Estate: The Brokerage)
I am pleased to announce that as of today, Rich Kids Real Estate Group has now made the transition from  Deasy Penner & Partners to Keller Williams Beverly Hills. Thanks to all of my amazing friends/clients (the two are synonymous) and supporters, Rich Kids has grown substantially in the last year. While I had a fantastic experience at DPP, I am excited to now be able to offer my buyers and sellers all of the cutting edge resources KW is able to provide. As it pertains to my sellers, KW has some of the most innovative technologies available to provide maximum exposure to your properties, as well as a network of thousands of agents throughout the world. As I have said many times, the days of sticking a listing into the MLS and waiting for multiple offers is long gone. As agents growing i...
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By Jane Peters, Los Angeles real estate concierge services
(Home Jane Realty)
The Beverly Hills Housing Market statistics below are taken from the MLS CLAW.  They are for single family homes only and do not include condos, income property and private sales. Although at first glance, the figures look gloomy, median price and median price listed vs median price sold, can be skewed unrealistically by overpriced multi-million dollar homes selling for less than asking, or one month a huge difference in the highest priced home over the next.  But if you look closely, the number of homes sold is steady, homes under escrow are up significantly and the months supply of inventory has dropped dramatically. Beverly Hills is not your average housing market, so it is difficult to follow the trend, especially at this time. Search for properties in Beverly Hills
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By Valerie Fitzgerald, Luxury Real Estate in Beverly Hills & West LA
(Coldwell Banker Residential Brokerage)
Sales of new homes broke out of a four-month winter slump with a bang in March 2010, soaring 26.9% over February, the government recently said, evidence that federal tax incentives for buyers due to expire next week are giving the housing market a boost. The March figures were meager by historical standards, bouncing off an all-time low in February, and analysts said job creation was paramount for the momentum to sustain itself. “It shows that the tax credit still has some punch, and we will probably see some better sales numbers for April,” said Mark Zandi, chief economist for Moody’s Economy.com. But “if we don’t get more jobs, the housing market is going nowhere.” The news came after a report showed that sales of previously owned homes rose 6.8% in March. Although new-home sales make...
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
Actress Diane Keaton (well known for her interest in restoring architecturally significant properties) is selling her property at 14148 W Sunset Blvd in the Pacific Palisades area of Los Angeles. The property has been listed for $8.5 Million which indicates Keaton will be selling at a loss: she purchased the 1950's Lloyd Wright designed home in February 2007 for $9.1 Million. The MLS listing describes the house as "an exceptional restoration of what was historically the "Alfred Newman Estate" by Architect Lloyd Wright". The actress has also re listed her house at 820 N Roxbury Drive in Beverly Hills for $10,950,000. She bought the house back in 2007 for $8.1 Million and worked with designers to restore the property. The home, which was featured in Architectural Digest, was listed For Sa...
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