Beverly Hills, CA Real Estate News

By Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002
(Berkshire Hathaway HomeServices California Properties)
As we count down the final days of 2023, I wish you peace and enjoyment as we enter the holiday season. While most focus on the holidays, savvy buyers and sellers continue to watch the economic reports to gauge what the Real Estate market is doing.  With interest rates now hovering between 6% to 6.75%, potential buyers have once again been given the potential to purchase homes that a few months ago seemed out of reach. A drop from 7.5-8.0% makes a significant difference to a buyer's purchase power.   In more news, the Federal Housing Finance Agency (FHFA) has announced that the loan limit for Fannie Mae and Freddie Mac mortgages in 2024 will increase in high-cost areas such as Los Angeles to $1,149,825.  This is good news for both buyers and sellers. On a side note, this is the 8th cons...
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By Valerie Fitzgerald, Luxury Real Estate in Beverly Hills & West LA
(Coldwell Banker Residential Brokerage)
Though the housing market is displaying some signs of health, economists say they could be misleading. Home prices in Los Angeles County edged up in October, while sales volume continued a slow downward drift after sizzling through the summer. The increasing prices represented the continuation of a trend that started in May after a slide of almost two years. The median price of a home was $340,000, up $5,000 from the month before, according to data supplied to the Business Journal by HomeData of Hicksville, N.Y. Adjusting for the difference in the number of selling days per month, sales volume dipped slightly – about 1.2 percent – representing the second monthly decline in a row. Experts viewed the rising prices as further evidence that the real estate market has stabilized, at least te...
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By Valerie Fitzgerald, Luxury Real Estate in Beverly Hills & West LA
(Coldwell Banker Residential Brokerage)
In recent years, millions of Americans looked at their houses and saw big, fat piggy banks. And it occurred to them to take out big, fat new mortgages. Few did it on the scale of Ronald Burkle.   Mr. Burkle, the grocery-store billionaire, has $56 million in loans against two houses, including $9 million added last year. One is his iconic Beverly Hills mansion, "Green Acres," a 44-room Italian Renaissance palazzo built in the 1920s by silent-film star Harold Lloyd that more recently was a favorite overnight rest stop for Mr. Burkle's buddy, Bill Clinton. Mr. Burkle declined to say how he is using the money. There is no indication he needs it to pay the water bill. Traditionally, the super-rich didn't really bother with mortgages. Home loans were for people who carry lunch buckets, not ca...
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
450 Maple Drive #501 4 Bed 3 Bath $2,349,000 HOA Dues $875 pm         261 S Reeves Drive #PH7 3 Bed 2 Bath $1,695,000 HOA Dues $1552 pm         261 S Reeves Dr #PH4 2 Bed 2 Bath $1,500,000 HOA Dues $1075 pm         430 N Oakhurst Dr #305 2 Bed 3 Bath $   999,000 HOA Dues $619 pm         141 S Linden Dr #103 2 Bed 2 Bath $   819,000 HOA Dues $625 pm         133 S Rexford Dr #201 2 Bed 3 Bath $   799,000 HOA Dues $600 pm         324 N Palm Dr #403 3 Bed 2 Bath $   799,000 HOA Dues $726 pm         200 N Swall Dr #352 2 Bed 2 Bath $   699,000 HOA Dues $1062 pm         235 S Tower Dr #206 2 Bed 2 Bath $   699,999 HOA Dues $654 pm         225 S Tower Dr #101 2 Bed 2 Bath $   499,000 HOA Dues $500 pm         431 N Doheny Dr #1 2 Bed 2 Bath $   429,900 HOA Dues $977pm Average List Price: $1,02...
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By Valerie Fitzgerald, Luxury Real Estate in Beverly Hills & West LA
(Coldwell Banker Residential Brokerage)
As strong market reports on manufacturing, construction and contracts to buy new homes show renewed optimism, The Carlyle Residences, a development of The Elad Group of New York’s Plaza Hotel, sees an influx of international buyers contributing to analysts’ reports. “The building appeals to many demographics,” says Tom Elliot COO of Elad Properties West, “and a high percentage of recent sales have been with foreign buyers.” The latest figures from the National Association of Realtors show that existing home sales were strong in September, which means that conditions have improved for five of the past six months. Last month, sales were up 9.4 percent from the level recorded in August, and also 9.2 percent higher than the figures recorded in September 2008. Read the full story at Valerie...
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By Valerie Fitzgerald, Luxury Real Estate in Beverly Hills & West LA
(Coldwell Banker Residential Brokerage)
From SeattlePI.com Undoubtedly consumers have better access to information on real estate listings today than back in the days when they had to search through want-ads. No one can deny that. But I think that most consumers think that what they have is better than what it really is. They think that because they don't have access to professional tools. They don't know what they're missing. Recently I did a quick review of five local websites aimed at consumers. All the sites were owned by members of the NWMLS. Thus, Zillow, Trulia, Google, etc. were not included. What I found was that no one site was clearly better than the others, and that all the sites have deficiencies. For example: Of the five sites, only one allowed you to enter precise amounts for your price range. One site had sta...
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
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. (Listed by Stephen Resnick of Westside Estate Agency and Sold by Eric Hassan of Coldwell Banker Beverly Hills)     
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1-800-GOT-JUNK? The World's Largest Junk Removal Service! Let us remove your junk! We enthusiastically satisfied hundreds of businesses last year. Do you have stuff sitting around left behind by your tenants or have tenants that want to get rid of stuff? We professionally remove all unwanted items, including: Electronic Waste including computer equipment, phones, printers, copiers etc. Furniture and file cabinets Paperwork Patritions (we provide disassembly) Excess inventory Why choose 1-800-GOT-JUNK? On-time service - We provide a 2-hour appointment window. Up-front rates - We will give you a quote before any work is done. Clean, Shiny Trucks - We represent you and your business professionally Friendly, Uniformed Drivers - Our employees are well trained professionals. E-Waste - Certifi...
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By Valerie Fitzgerald, Luxury Real Estate in Beverly Hills & West LA
(Coldwell Banker Residential Brokerage)
Valerie will be on a panel Saturday, November 14 from 1:30 to 3 p.m. at the San Diego Convention Center during the NAR Conference (read below for details.) For more information about Valerie Fitzgerald visit http://budurl.com/VFGcom. This year, the Forum will focus on how industry professionals can form strategies and excel in working with distressed properties, such as foreclosures, REOs and short sales. Our panelists this year include: Facilitators John Featherston, President & CEO, RISMedia; Chairman & Co-founder, RISMedia’s Top 5 in Real Estate Network Allan Dalton, President & Co-founder, RISMedia’s Top 5 in Real Estate Network Panelists Gino Blefari, Founder, President & CEO, Intero Real Estate Services Tami Bonnell, President, U.S. Organization, EXIT Realty Corp. Jon Cook, Presi...
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By Jane Peters, Los Angeles real estate concierge services
(Home Jane Realty)
The median price of homes in Beverly Hills has increased by 123% The number of properties sold has increased 55% The properties on the market in any given month where a buyer could have written a first position offer to purchase it at any time during that month.  Different from Months Supply of Inventory below.  The number has increased 3%. The number of properties going into contract on any given month shows the sales activity.  This has increased 108%.   These figures show how long it would take to sell the present inventory based on the present monthly sale rate. The number of properties on sale on the last day of the month is the remaining inventory.  This figure is divided by current sales rate for the month as determined by the number of properties going under contract.  This show...
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
Beverly Hills House Sales - In Escrow as at 10/11/2009 72 Beverly Park Dr 11 Bed 18 Bath $22,500,000       1240 Bevedict Canyon Dr 6 Bed 6 Bath $7,995,000       620 Walden Dr 5 Bed 7 Bath $7,595,000       9752 Suffolk Dr 7 Bed 7 Bath $6,995,000       631 N Crescent Dr 6 Bed 4 Bath $6,900,000       624 N Hillcrest Rd 5 Bed 5 Bath $5,250,000       716 N Oakhurst Dr 6 Bed 5 Bath $4,449,000       625 N Elm Dr 5 Bed 5 Bath $3,700,000       507 N Arden Dr 4 Bed 5 Bath $3,450,000       248 S Almont Dr 5 Bed 5 Bath $2,950,000       1800 N Beverly Dr 5 Bed 6 Bath $2,950,000       1642 Lindacrest Dr 4 Bed 4 Bath $2,795,000       1160 San Ysidro Dr 3 Bed 2 Bath $2,700,000       2365 Bowmont Dr 3 Bed 3 Bath $2,699,000       1150 San Ysidro Dr 4 Bed 4 Bath $2,675,000       245 Camden Dr 6 Bed 6 Bat...
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By Valerie Fitzgerald, Luxury Real Estate in Beverly Hills & West LA
(Coldwell Banker Residential Brokerage)
If interest rates on 15-year fixed mortgages have never been lower -- and rate trackers say that's the case -- why aren't 30-year loans setting records as well? To be sure, 30-year fixed rates have fallen near all-time lows, well below 5% for borrowers willing to pay some upfront fees known as points -- a great deal if you're among the lucky borrowers who qualify. But they were lower still last spring, according to surveys by the Mortgage Bankers Assn., Freddie Mac and bankrate.com. By contrast, all the surveys concur that rates for 15-year fixed mortgages have already reached their lowest point on record -- and keep falling.  Freddie Mac, for example, says 15-year rates fell to record territory the week ending Sept. 17, when they averaged 4.47%. They have continued falling in three sub...
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By Jane Peters, Los Angeles real estate concierge services
(Home Jane Realty)
Beverly Hills (90210, 90211, 90212, 90213) is a fully incorporated city in the heart of Los Angeles.  As an incorporated city it has its own government, police, school district, public services, etc. An annexation proposal to the City of Los Angeles was defeated in 1923 and Beverly Hills remains independent to this day.Beverly Hills was officially "opened" in 1906 and named after Beverly Farms in Beverly, MA.  Construction on the famous Beverly Hills Hotel, home of the famous Polo Lounge was started in 1911. Movie stars started to build their homes there, and a tour of the stars homes is an industry by itself.It has some of the largest home in the country, from huge mansions to more modern homes, condos and apartment buildings.  The further south you get the less expensive it becomes. N...
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By Matt Sweeney, Rich Kids Real Estate
(Rich Kids Real Estate: The Brokerage)
When I am taking a buyer out to look at property, I will always have feedback to offer and am forthcoming to express my opinion to make sure that my client takes an objective approach to the listing as a whole: will it be hard to sell in a few years time, what's the quality of craftsmanship, and the big one, pricing. Obviously, this is done in private after we have left the property or are discussing outside of the building. When an agent takes the time out of their day to meet both myself and my client, I always want to convey how much I appreciate their time and to say something positive about the property they are listing, whether I like it or now. My clients are trained in the same manner - if you don't have anything nice to say in front of the listing agent, just keep it to yoursel...
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By Matt Sweeney, Rich Kids Real Estate
(Rich Kids Real Estate: The Brokerage)
Have you broken up with your boyfriend/girlfriend? Do you find that that those must have (insert item - Dior shoes, new BMW, Bottega gym bag - you get the point) aren't keeping you warm at night? Or maybe you are simply an animal lover (as most of us are) who has been waiting for the right time to adopt a wonderful companion, but hasn't had the time to investigate the right opportunity. I have the answer for you! It's time to adopt a cat, especially one that is affectionate and is in desperate need of a loving home. In all seriousness, a friend of mind has found a extra special cat in an alley in West Hollywood and has opened her heart/home to really give this super sweet feline a chance at a happy life. If you've ever considered getting a kitty, I implore you to consider making this ad...
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By Michael Volkin
(Area Pro Realty)
Facebook Lite for Real Estate Brokers Facebook has come out with a new version of their social networking site called Facebook Lite. It's a less cluttered version of the original, which has received complaints about usability. Facebook Lite reads more like Twitter, and has more screen space (i.e. less clutter and less advertising) This new version makes it easier to send out Twitter-like messages without all of the distractions. This version can be useful in the Real Estate world for several reasons: •   It works great on a mobile platform, so you can update your followers and customers on the go •   You can, quickly and easily, post a link to a listing or website that may be urgent (i.e. timely news) •   It requires less bandwidth, so you can have several applications running. The site...
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By Matt Sweeney, Rich Kids Real Estate
(Rich Kids Real Estate: The Brokerage)
Fall in LA is my most favorite time of year! I love being able to wear sweaters during the day, the cool crisp nights, and above everything else, all the wonderful holiday parties that typically include an open bar! Now I know we are not quite ready to pack in our Ed Hardy Summer T Collection (GASP - I am joking) for fitted D&G ribbed v neck sweaters just yet, but the fall will be upon us in full force soon enough. Now I know you are already planning on what to wear for Halloween (last year I was Michael Phelps in just a speedo and gold medals - not sure how I am going to top that one), but have you also been strategically planning your real estate purchase? Between now and Christmas are some of the best months to get a deal on that new home you've been eyeing. More times than not, sell...
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Help the NAVS Sanctuary Fund Save Animals in Need Hurricane season is in full swing. Hurricane Jimena is expected to make landfall today on the Baja California Peninsula. On the east coast, the National Hurricane Center has issued an advisory for Tropical Storm Erika as it moves toward the Southeast U.S. coast. Meanwhile, Governor Schwarzenegger declared a state of emergency as wildfires continue to rage throughout Southern California.  Several homes, businesses, animal shelters and large animal sanctuaries have already been evacuated. The NAVS Sanctuary Fund was established to provide immediate financial assistance to animals affected by these natural or human-made disasters.  You have the power to help animals in this, their most desperate, hour. Your monetary donation to NAVS' Sanctu...
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By Matt Sweeney, Rich Kids Real Estate
(Rich Kids Real Estate: The Brokerage)
This post is dedicated to all the daddy's girls and mama' s boys that are not quite ready to leave the nest even though it's about that time or in some of your cases, long past due. Trust me, I get it. You have become used to the luxuries of gourmet kitchens w/Viking appliances (even though you may not cook, it's still a comfort knowing that they are there), beautiful gleaming hardwod floors, and top of the line luxury everything. The thought of leaving the safety of Beverly Hills with it's close proximity to your parents/family, convenient location to everything, and small town sense of community is something that you are just not willing to consider. I hear you loud and clear! Well, I have the solution for you...coming soon. Next week I will be launching an absolutely stunning condo i...
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  The movie "The Graduate" who is this very famous young man?   One of my favorite movies of all time is "The Graduate" and when I first saw this flick I thought to myself (wow)! And Simon & Garfunkel are one of my favorite groups.  When this movie first hit the theaters there was so much controversy, why? If you really know the movie please tell us in you own words why there was so much talk about this great movie?  And this handsome young man on the album cover, who is that? And how old do you think he is, maybe in his early twenties?  Me and other members will be posting fun blogs about Famous People Only and I would like every one to please join our group and post some blogs about Famous people!                                Famous People Only  And is that someone Autograph on that...
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By Robert Vegas Bob Swetz
 Real Autographed photo of James Dean  I have had people in my life tell me "Bob I think you are Star Struck" when they hear me talking about Famous People, Movie Stars, Musicians, Artists, Photographers, Presidents, etc.  I know that deep down Famous People are the same as any one else, they tie their shoes like we do, they brush their teeth like we do, etc.  But I consider Movie Stars & Musicians like a part of my family because I grew up with them and have been influenced by them many times in my life when growing up.  When I grew up I had huge dreams and a "Simple Twist of Fate" changed my dreams and kept me from rubbing elbows with Famous People. Things are what are and life deals you a hand of cards that you just have to live with.  So when people say "Bob I think your Star Struck...
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