Beverly Hills, CA Real Estate News

By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
The Beverly Hills Courier reports that "The Beverly Hilton Hotel has been listed for sale with global commercial real estate brokers Cushman & Wakefield for the purpose of exploring the market. A sale price has yet to be determined". In 1955, Conrad Hilton opened The Beverly Hilton at the world-famous intersection of Wilshire and Santa Monica Boulevards. The hotel was owned by Merv Griffin from 1987 to 2003. Oasis West Realty LLC purchased the 570-room hotel in 2003 for $130 Million and immediately embarked on a $80 million renovation. There are currently plans to expand The Beverly Hilton with an additional 170 rooms.
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By Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002
(Berkshire Hathaway HomeServices)
Market Observations for the week of November 8th, 2010, as you know I do not often comment on this subject, since there is a great deal of daily volatility in the Stock Market and consequently in the mortgage rates as well. Last Wednesday, the Fed announced that, to help boost the economy, it will purchase an additional $600 billion in Treasury securities by the end of the second quarter of 2011. The expectation is to purchase about $75 billion per month to reach its goal. The good news is this will help Real Estate sales, since the Dollar will remain weak and foreign buyers will continue to see US Real Estate as a great opportunity. There will be a lot more Luxury home buyers from Europe, Asia as well as North America, i.e.: Canada.  In addition the added demand for Treasury securities...
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
Beverly Hills Condos - Market Report for October 2010: Number of Units Sold: 7 Average Days on the Market: 117 Median Price: $845,000 Average List Price: $905,000 Average Selling Price: $838,000 Lowest Price Condo Sold: $692,000 Highest Price Condo Sold: $900,000 Total Sold in Dollars: $5,800,000 Stewart Penn - Realtor for homes, condos & lofts in Los Angeles, Beverly Hills, West Hollywood, Hollywood Hiils, the Sunset Strip and throughout the greater Los Angeles area. Information obtained from The MLS is deemed accurate but not guaranteed.
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By Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002
(Berkshire Hathaway HomeServices)
As most of you know I am a big fan of supporting Rescue Organizations, I have been so busy the past few days I am sorry for the short notice. Please go have a great vegetarian dinner! What:   Veggie Grill Fundraiser for The Pet Care Foundation / Pets 90210             Excellent vegetarian food with 50% of the proceeds going to the Foundation.    When:  November 3rd, 5 PM to 11 PM    Where: 8000 Sunset Blvd., West Hollywood (corner of Crescent Heights)  Why:    To raise funds for the Pet Care Foundation's pet adoption events and pet adoption TV show that has saved more than 3,000 pets since starting in 2005.    How:    Bring the flyer below (also attached) with you to ensure the Foundation receiving funds.  Have a great dinner and save animals all at the same time.  Please come!     Bill...
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By Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002
(Berkshire Hathaway HomeServices)
Where to go for Halloween? How about the Playboy Mansion Halloween Party 2010? If you have been undecided or just could not make up your mind, there is always the Kandy Halloween at the Playboy Mansion. Now keep in mind this is not for everyone Tickets start at $1000.00 if you want a Cabana and Tables than you need to add another $10,000.00 in addition to the entry. This Halloween Party is the 4th Annual Kandy Halloween party at the Playboy Mansion it will be held on October 30th, 2010.  The Karma Foundation's Beneficiary will be the Marconi Foundation for Kids. http://www.marconimuseum.org/default.asp?contentID=13   The Marconi Foundation's Philosophy is to make a difference for youth in need: "Learn, Earn and Return" Learn through a higher education, Earn through hard work and perseve...
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By Jane Peters, Los Angeles real estate concierge services
(Home Jane Realty)
Beverly Hills real estate market report The Beverly Hills real estate market remains sluggish. Homes under $2 million are the strongest sector of this market with 4.33 months of inventory which indicates a sellers market. Homes over $2 million have 10.40 months of inventory and average days on the market have risen, pointing to a buyers market. Condos under $2 million show slow but steady sales.  With 8.88 months of inventory, buyers should be out looking. Condos over $2 million.  This is probably the most impacted area of the Beverly Hills real estate market.  The sales to list price is high, but with over 39 months inventory and a median price of around $7 million, there is little or no movement.
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By Matt Sweeney, Rich Kids Real Estate
(Rich Kids Real Estate: The Brokerage)
2010 has been an extraordinarily exciting time for Rich Kids Real Estate Group. It will be two years this January 29th since I officially launched Rich Kids (during the peak of our global economic melt down - live and learn). It was definitely scary times in the beginning, but things seemed to turn around relatively quickly. By summer 2009 the Rich Kids brand was rapidly gaining momentum. To see the catharsis of where this began to where it is now is an accomplishment I am incredibly proud of. Keller Williams Beverly Hills (KW is franchised - just FYI) awarded Rich Kids Real Estate Group with the "Most Units Sold for September 2010″ out of over 150 agents in our office, some being  the most regarded top producers in town. Without the constant support of my extremely loyal clients, frien...
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By Dom Naidoo, Malibu to the Marina Real Estate
(Westside Properties)
Pre foreclosures are known as properties that have reached the final stages before they get repossessed or taken back by the lender or bank.  The owner is still in complete control of the property or home, although the bank or lender will repossess the home if the owner doesn’t attempt to rectify the situation.  Normally, if the owner makes things right with payment, the pre foreclosure will settle and things will go back to normal. When buying real estate, there are several benefits to pre foreclosures.  Although there are several ways that you can buy a home, pre foreclosure is one of the best.  Even though it is one of the best ways to buy property, many people miss out simply because they aren’t familiar with pre foreclosures and all of the benefits that come with them. Showing pro...
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By Redesign Properties
(Redesign Properties)
The Bevely Hills Fall Art Show entitled "Affaire In The Gardens" will attract over 50,000 people to the streets of Beverly Hills this weekend.  Whether you're an art lover or just enjoy strolling the gardens along Santa Monica Blvd this event is for you.  Affaire In The Gardens features over 250 artists from around the nation, live bands, gourmet food, and a "Wine & Fine Ale Garden."  Ha, leave it to the City of Beverly Hills to call a "beer garden" a "file ale garden."  For more information on this event be sure to check out Bevely Hills Art Show | Affaire In The Gardens.  
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
"Dark, sexy modernism" - LA Times Magazine The Thompson Hotel, located at 360 Wilshire Blvd in Beverly Hills, could well go unnoticed unless you're specifically looking for it. Discreetly tucked into what looks like an ordinary office building is this sleek and sexy boutique hotel. Located three blocks away from famous Rodeo Drive, the hotel is within walking distance to the most powerful talent agencies, renowned art galleries and famous restaurants in Beverly Hills. There's an awesome pool and bar on the rooftop that offers some of the most spectacular views of Beverly Hills. If you're in the area it's definitely worth visiting the rooftop to enjoy a refreshing cocktail while enjoying the sophisticated surroundings.     Pics courtsey of The Thompson Hotel website.
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
Beverly Hills Condos - Market Report for September 2010: Number of Units Sold: 3 units Average Days on the Market: 209 days Median Price: $625,000 Average List Price: $994,000 Average Selling Price: $942,000 Lowest Price Condo Sold: $610,000 Highest Price Condo Sold: $1,590,500 Total Sold in Dollars: $2,825,000 Stewart Penn - Realtor for homes, condos & lofts in Los Angeles, Beverly Hills, West Hollywood, Hollywood Hiils, the Sunset Strip and throughout the greater Los Angeles area. Information obtained from The MLS is deemed accurate but not guaranteed.
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By Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002
(Berkshire Hathaway HomeServices)
So was the Forbes Report Right or Wrong? You be the Judge! As you know, Late last night early this morning, I saw that Forbes came out with the highest priced Zip Code List for the country, so I immediately focused on the greater Los Angeles Real Estate Zip Codes. Not all of them, I just picked out randomly three Zip Codes that interested me, since my Real Estate Office is in Beverly Hills and I was asking  the day before  where people would prefer to live if the choice was between Malibu or Bel Air. After reviewing these three areas I though it would be interesting to see if Forbes was right or wrong? So with that said I went to the Multiple Listing Service and as of 1am this morning wanted to see what the activity was for the past six months in all three areas. So with that said let's...
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By Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002
(Berkshire Hathaway HomeServices)
Forbes just published the most expensive zip codes in the US, where do you fit in? Ironically yesterday I wrote a post about where you would like to live in Malibu or Bel Air?  Everyone who responded chose Malibu over Bel Air. So let us see what Forbes had to say. Rank   Zip Code,    Median home Price     Median Price Change    Average Days on Market   Median                                                 City, State                                                                                                                               Household Inc    6            90210            $3,684,150                            9%                                        174             $112,572        Beverly Hills, CA 24           90265            $2,730,577                           16%  ...
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By Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002
(Berkshire Hathaway HomeServices)
Pets90210's Quarterly Pet Adoption was a Raving Success!  The Place:  Roxbury Park's Wiggly Field at 471 South Roxbury Dr & Olympic Blvd, Beverly Hills, CA90210 The stars:   The critters needing to get adopted The supporting cast: the volunteer of Pets90210 and their leader Bill Crowe This past Saturday from 11:00am to 3:00pm, in the sweltering heat of a late September heat wave of 86 degrees, the animals and volunteers were waiting with apprehension. They were all hoping on the kindness, caring and goodness of the humans who drove by or walked by the tent and looked at these wonderful animals waiting for a forever home. I was taking pictures and silently hoping for the adoption of these wonderful creatures. As I was looking at the critters it reminded me of the John Irving novel and th...
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By Kris & Kimberly Darney, Your REALTORS® For Life
(Darney Realty)
According to a new survey from Phoenix Marketing International’s Affluent Market Practice, the number of American households with the ability to invest $1 million or more rose 8% in the 12 months ended in June. The survey says there now are 5.55 million U.S. households with investible assets of $1 million or more. What does this mean? Why are we not friends with a few of these potential investors and selling each one of our Short Sale and REO listings
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By Bree Long
(Keller Williams Realty)
Beverly Hills homes are selling like hotcakes (relatively speaking)! Sales of Beverly Hills homes increased, by one-hundred and eighty-six percent (186%), in August, 2010, and in comparison to the same month last year. Beverly Hills home sales have been on the rise since hitting a low point for the year in the first quarter. Despite a steady increase in sales over the last several months, only twenty (20) Beverly Hills homes were sold in August of 2010, while the Combined L.A./Westside MLS reflects the sale of only seven (7) Beverly Hills homes for August 2009. Beverly Hills Homes Sold for August 2010: Supply continues to drastically outpace demand, although there was a 19% decrease in Beverly Hills homes for sale in August 2010, as compared with the same month last year. There were one...
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By Valerie Fitzgerald, Luxury Real Estate in Beverly Hills & West LA
(Coldwell Banker Residential Brokerage)
Taking steps to minimize your energy use is not only good for the Earth, but for homeowners as well. While being altruistic and helping a cause generally means giving—not getting—back, going green provides noticeable benefits to everyone. Here, Mike Vazeii, Director or Marketing, American Home Shield discusses why going green is in fact a good thing. Lowering energy consumption can be good for the planet and good for homeowners’ pocketbooks. That’s because taking steps to minimize energy use in the home can often significantly lower heating, cooling, water and utility bills and may have other financial advantages for you and for your clients. It almost sounds too good to be true, doesn’t it? Being altruistic and helping a cause usually means giving—not getting—back. However, going gree...
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By Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002
(Berkshire Hathaway HomeServices)
The after action report of 9.02.10 Day Celebrations in Beverly Hills, CA The after action report of 9.02.10 Day Celebrations in Beverly Hills, CA.  As some of you know Diane and I were guests of Kenquest.com. They graciously gave us seats at the VIP tables. They were the Platinum sponsors of this event.   They are also the main sponsors/ benefactors of Pets90210 of Beverly Hills a great   Animal Rescue Organization in Beverly Hills, CA of course. The MC of the event left early and the Mayor of Beverly Hills took over and did a great job. Ironically, due to his Persian accent he was even more entertaining then he meant to be. Wolfgang Puck of Spago fame came on stage and was prepared to "interpret" for the Mayor. The" who is who" of the city were there. Almost all the restaurants from Be...
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By Danny Batsalkin, Los Angeles Real Estate | 310.432.5706
(Keller Williams Realty - Beverly Hills)
Danny Batsalkin of Boulevard Realty was featured in a story in the Los Angeles Times on Sunday, August 29, 2010 ... Foreclosures of million-dollar-plus homes on the rise by Lauren Beale A small excerpt ... The number of homes in the $1-million-and-up slice of the market that have become bank owned has tripled during the last three years in Los Angeles County, and the trend has shown little sign of slowing. Not every REO is owned by a bank. Sometimes the new owner is a private money lender. One such corporate-owned REO in the Beverly Hills Post Office area is an 11,000-square-foot Mediterranean on more than two acres with a tennis court and swimming pool that is priced at $7,999,000. The original owner had purchased the property in the 1990s, but after borrowing against the property for ...
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
Summary Report - August 28, 2010 Two-Bed Condos in Beverly Hills (Area 1 of The CLAW MLS) Search The MLS Two-Bed Condos For Sale: 54 units Two-Bed Condos In Escrow (Pending & Looking for Backups): 13 units Highest Price Two-Bed Condo For Sale: $4,600,000 Lowest Priced Two-Bed Condo For Sale: $499,000 Largest Two-Bed Condo For Sale: 2790 sq ft ($1,475,000) Smallest Two-Bed Condo For Sale: 1045 sq ft ($549,000) All information obtained from The Claw MLS is deemed correct but not guaranteed.
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