Beverly Hills, CA Real Estate News

By Valerie Fitzgerald, Luxury Real Estate in Beverly Hills & West LA
(Coldwell Banker Residential Brokerage)
Home sales and prices continued their steady but pokey climb up from the bottom in Southern California last month as buyers scrambled to take advantage of low prices and low mortgage interest rates. The market is still tilted toward low-cost distress sales, but not by as much as previously, a real estate information service reported. A total of 20,476 new and resale homes sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties last month. That was up 33.3% from 15,359 in February, and up 5.0% from 19,506 in March 2009, according to MDA DataQuick. The San Diego firm tracks real estate trends nationally via public property records. Sales always go up from February to March. Last month was the 21st in a row with a year-over-year sales increase. The March sale...
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By Valerie Fitzgerald, Luxury Real Estate in Beverly Hills & West LA
(Coldwell Banker Residential Brokerage)
A vacant house is like a vacant stare. Something is just not right. Trying to sell a vacant house adds obstacles and depresses the sales price, says Showhomes, a nationally franchised home staging company. Showhomes uses live-in home stagers to lower the cost of staging and produce faster home sales. Take a look at their top five reasons why selling a vacant house is often a mistake in today’s market: 1. People don’t simply buy houses; they buy the next chapter of their lives. This is an emotional experience and emotion influences what people buy and how much they will pay. Vacant houses are devoid of life, and the chance to make an emotional connection is lost. 2. Vacancy distracts buyers from looking at the house itself. They wonder: “Is this a divorce? Why did they move out? Are they...
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
The highest priced ever achieved for a condo in Beverly Hills has been recorded at The Montage Residences. This record-setting sale of $10,950,000 closed on Friday 4/9/2010 ($2148 per square foot) Unit 8D is a 4-Bed 4.5-Bath condo measuring over 4900 square feet with HOA Dues of $6064 per month (that's $72,768 per year). Annual Property Taxes are estimated at over $130,000. That's over $200,000 in Dues and Taxes alone. This sale easily tops the previous record of $6,150,000 for Unit 8F (also at The Montage Residences) that closed for $6,150,000 in March of this year. As at the time of posting this blog The MLS shows one unit as pending in escrow (listed at $11,650,000) and three other condos as active, listed at $6,150,000; $8,850,000 and $10,250,000 respectively. The Property was liste...
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
Beverly Hills Condos Open Houses - April 11, 2010 (From 2-5pm) 140 S Oakhurst Dr #PH1 - 3 Bed 3.5 Bath - $2,595,000 140 S Oakhurst Dr #202 - 2 Bed 2 Bath - $1,350,000 407 S Spalding Dr #6 - 3 Bed 2.5 Bath - $1,085,000 330 S Reeves Dr #102 - 2 Bed 2 Bath - $1,049,000 433 N Doheny Dr #303 - 2 Bed 2.5 Bath - $999,000 140 S Oakhurst Dr #101 - 1 Bed 1.5 Bath - $925,000 438 N Palm Drive #A - 2 Bed 2 Bath - $737,000 131 N Gale Dr #3E - 1 Bed 1 Bath - $525,000 If you're not represented by a Realtor/Broker and would like additional information on any of these Open Houses scheduled (or any other property in the greater Los Angeles area), please do not hesitate to call or email me: Stewart Penn (310) 866-1818 - stewart@pennpropertiesla.com Information obtained from the CLAW MLS is deemed correct ...
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By Dom Naidoo, Malibu to the Marina Real Estate
(Westside Properties)
Shannon Ramey is a top producing Real Estate agent with Westside Properties. Serving the Los Angeles Westside and specializing in Luxury Real Estate in Beverly Hills, Bel Air / Holmby Hills, and Santa Monica.   Shannon grew up in the Windy City where she developed a strong desire to experience the world and immerse herself in its different cultures.  After graduating from American University in Washington, D.C., she spent time living in Turkey, Jordan, and Morocco.  While abroad, Shannon developed close friendships that eventually became part of her network of high net-worth and foreign business associates.   Shannon began her career on Wall Street as a trader for an institutional stockbroker.  A few years later, she realized that it was time to combine her business savvy with her pass...
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
Beverly Hills Condo Sales - March 2010 (February / January) Number of Units Sold:  7 (4/13) Average Days on the Market: 157 (140/76) Median Price: $956,000 ($812,500 / $816,000)Average List Price: $1,687,714 ($1,192,000 / $975,000) Average Selling Price: $1,620,771 ($1,212,500 / $924,000)Total Sold in Dollars: $11,345,400 ($4,850,000 / $12,012,000)Lowest Price Condo Sold: $450,000 ($525,000 / $518,000)Highest Price Condo Sold: $6,150,000 ($2,700,000 / $1,470,000) MLS Information deemed reliable but not guaranteed. Photos courtesy of The CLAW MLS. Search The MLS: Stewart Penn - Realtor for homes, condos & lofts in Los Angeles, Beverly Hills, Bel Air, Santa Monica, Malibu, Brentwood, Century City, Westwood, Beverly Center, Miracle Mile, West Hollywood, Sunset Strip, Hollywood Hills, Hanco...
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By Dom Naidoo, Malibu to the Marina Real Estate
(Westside Properties)
Westside Properties WestsideHomeFinder.com 881 Alma Real Drive, Suite T-25 Pacific Palisades, CA 90272 Office: 310.459.8191 Toll Free: 800.645.3345 Cell: 800.645.3345 Fax: 310-494-0169 www.westsidehomefinder.com Westside Properties | View all these results now | $3,349,000 - Beverly Hills, CA 90210 5 Beds, 6 baths Size: 5,458 Sq Ft Lot Size: 31,759 Sq Ft Community: Beverly Hills Post Office $755,000 - 200 N Swall Dr Beverly Hills, CA 90211 2 Beds, 2 baths Size: 1,440 Sq Ft Lot Size: 00 Sq Ft Community: Beverly Hills $3,250,000 - 499 Hillgreen Dr Beverly Hills, CA 90212 4 Beds, 3 full 1 part baths Size: 3,406 Sq Ft Lot Size: 8,100 Sq Ft Community: Beverly Hills Post Office Tract: Cust $2,595,000 - 1970 Coldwater Canyon Dr Beverly Hills, CA 90210 5 Beds, 5 baths Size: 00 Sq Ft Lot Size: ...
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
A record-breaking condo sale has been recorded at the Montage Residences in Beverly Hills. The MLS indicates that 225 N Canon Dr #8F in Beverly Hills closed escrow in March 2010 for $6,150,000. According to MLS records, this sale is the highest priced condo to be sold in Beverly Hills and is also the most expensive based on the rate per square foot. The MLS details the HOA Dues at $3961 per month. The 2550 sq ft condo features 3 en-suite bedrooms, an office, grand living and dining rooms and private balconies with views of the surrounding hills and cityscape. The Property was listed by Sondra Browning-Ott of Sotheby's International and the Buyer was represented by Jennifer Fentin of Westside Estate Agency. The MLS shows one unit listed at $11,650,000 as pending in escrow and three other...
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
Beverly Hills Hotel - 9641 Sunset Blvd, Beverly Hills, CA 90210 Perhaps the most famous hotel in Beverly Hills, the Beverly Hills Hotel is an icon of the city. The hotel has 204 guest rooms and suites, including 21 one-of-a-kind bungalows. The 21 bungalows at The Beverly Hills Hotel are like individual homes, each with separate entrances, living rooms, dining rooms, wood-burning fireplaces, and a different configuration and decor. The hotel has a fascinating and interesting history .... It was first opened in 1912. In 1928 the hotel was sold for $1.5 Million, but after the stock market crash of 1929 the second owner lost the hotel to Bank of America and the hotel was closed. In 1932 the hotel was reopened. It was sold in 1941 at which time the restaurant was renamed The Polo Lounge. In ...
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By Valerie Fitzgerald, Luxury Real Estate in Beverly Hills & West LA
(Coldwell Banker Residential Brokerage)
Homeowners defaulting on mortgages today may be surprised to learn years from now that they still owe thousands of dollars—and a collection agency is coming after them to get it. That’s because lenders have been quietly selling second mortgages and home equity lines left unpaid after foreclosures and short sales. The buyers: collection agencies, which in some states have years to make a claim. If they win court judgments, these collectors could have years to pursue borrowers with repayment plans, and even garnish their wages, said Scott CoBen, a Sacramento bankruptcy attorney. “The only relief a consumer will have is entering into a debt negotiating plan or filing for bankruptcy,” said Sylvia Alayon, a vice president with the New York-based Consumer Mortgage Audit Center. The firm provi...
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By Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002
(Berkshire Hathaway HomeServices)
  Did you know that undisclosed payments in a Short Sale Transaction may be illegal? According to The California Association of Realtors undisclosed, specifically those payments that are paid outside of Escrow may violate the Law. In particular it could be a violation of RESPA, or it could be considered Lender Fraud and a violation of licensing laws just to name a few. An example they site is, when a Short sale Seller's Senior Lender authorizes a payment to eliminate a junior lien. This would seem OK, but then the junior lender demands that the buyer pays an additional Dollar Amount outside of escrow. This is a Risky scenario for the Buyer, but to conceal this additional payment from a federally-insured senior lender may constitute lender fraud. My question is would you want your buyer ...
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By Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002
(Berkshire Hathaway HomeServices)
 What is Beverly Hills, CA? It is a destination for the tourists, the rich, the famous and the infamous. One thinks of the zip code 90210, and the TV Show of the same name. When we think of Beverly Hills, we think of Glamour, Movie Stars and an Affluent Society. Beverly Hills is a destination place. People from all over the world want to visit and or live here. Beverly Hills was a prosperous location long before the entertainment industry discovered it. We might be wondering what the reason was. The answer is water. Southern California has fantastic climate all year around, but water is the most precious commodity and Beverly Hills was blessed with it. The primary reason for Tourist visiting Beverly Hills, from all over the world is to come here and to see the movie stars, where they ea...
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By Jane Peters, Los Angeles real estate concierge services
(Home Jane Realty)
The Beverly Hills home sales statistics below are taken directly from the MLS and are for single family homes.  They don't take into consideration condos, income property and private sales. 8 properties sold in February, the same as in January '10 but 4 more than in February '09.  The most expensive was $16,500,000 and the least expensive was a mere $3,162,000. The median price of $9,400,000 is way up from $1,687,500 in January, and $3,200,000 in February '09. Days on the market for sold listings was 115, up from 98 in January, and 141 in February '09. There has been little change in the Beverly Hills market over the last two months, except for the price of the homes sold.              
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
Beverly Hills Homes For Sale - Open Houses 3/14/2010 (1pm-4pm) If you're not represented by a Realtor/Broker and would like additional information on any of the Open Houses scheduled, please do not hesitate to call or email me: Stewart Penn - Penn Properties -  (310) 844-6515 - stewart@pennpropertiesla.com 1700 Green Acres - 5 Bed 7 Bath (9163 sq ft) - $9,799,000 590 Haynes Ave - 4 Bed 5 Bath (4100 sq ft) - $7,900,000 1133 Tower Rd - 5 Bed 8 Bath (6350 sq ft) - $6,995,000 1107 N Hillcrest Rd - 4 Bed 4 Bath (4389 sq ft) - $4,795,000 9860 Whitwell Dr - 6 Bed 7 Baths (6910 sq ft) - $$3,795,000 1446 Lindacrest Dr - 4 Bed 4.5 Bath (3875 sq ft) - $2,750,000 273 S Palm Dr - 3 Bed 2.5 Bath (2225 sq ft) - $1,695,000 9477 Gloaming Dr - 4 Bed 3 Bath (3089 sq ft)  - $1,640,000  124 S Swall Drive -...
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
Beverly Hills Condos Open Houses - Sunday 3/7/2010 (1:00pm - 4:00pm) If you're not represented by a Realtor/Broker and would like additional information on any of the Open Houses scheduled, please do not hesitate to call or email me: Stewart Penn - Penn Properties -  (310) 844-6515 - stewart@pennpropertiesla.com 140 S Oakhurst Dr #PH1 - $2,595,000 277 S Spaulding Dr #101 - $1,200,000 433 N Doheny Dr #303 - $999,000 304 S Elm Dr #205 - $765,000 140 S Oakhurst Dr #103 - $595,000 Information from the CLAW MLS is deemed correct but not guaranteed. Search The MLS: Stewart Penn - Realtor for homes, condos & lofts in Los Angeles - Beverly Hills, Bel Air, Homby Hills, Santa Monica, Malibu, Brentwood, Century City, Westwood, Beverly Center, Miracle Mils, West Hollywood, Sunset Strip, Hollywood, ...
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By Valerie Fitzgerald, Luxury Real Estate in Beverly Hills & West LA
(Coldwell Banker Residential Brokerage)
Valerie Fitzgerald joins Fox 11 Los Angeles and shares tips for buying or marketing your home. Valerie Fitzgerald specializes in luxury residential real estate in Beverly Hills, Bel Air, Brentwood, Santa Monica and Malibu. Valerie has more than 20 years of real estate experience and is known for her solid reputation in the West Los Angeles brokerage community. She’s also the author of the book published by Simon and Schuster Heart and Sold: How to Survive and Build a Recession-Proof Business. Buy it here. Subscribe to this blog: Valerie Fitzgerald Group Blog Follow me on Twitter: http://twitter.com/ValreFitzgerald Follow me on Facebook:http://www.facebook.com/ValerieFitzgeraldRealEstate3 3
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By Valerie Fitzgerald, Luxury Real Estate in Beverly Hills & West LA
(Coldwell Banker Residential Brokerage)
Recently the National Association of Realtors® launched HouseLogic, a new, comprehensive consumer Web site about all aspects of homeownership. HouseLogic helps homeowners make smart decisions and take responsible actions to maintain, protect and increase the value of their homes. “Backed by the resources and industry insights of NAR and its Realtor® members, HouseLogic will engage and involve consumers throughout the lifecycle of homeownership,” said NAR President Vicki Cox Golder, owner of Vicki L. Cox & Associates in Tucson, Ariz. “It makes sense that, as the first, best source for real estate information, NAR should collaborate with today’s consumers to help them make the most out of owning a home. HouseLogic will help us do that.” The free Web site helps homeowners plan and organiz...
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
Beverly Hills Condos Sold in February 2010 - (January)Average Selling Price: $1,212,500 ($924,000)Average List Price: $1,192,000 ($975,000)Median Price: $812,500 ($816,000)Total Sold in Dollars: $4,850,000 ($12,012,000)Number of Units Sold:  4 (13)Lowest Price Condo Sold: $525,000 ($518,000)Highest Price Condo Sold: $2,700,000 ($1,470,000) **Sold by Penn Properties**Average Days on the Market: 140 (76) MLS Information deemed reliable but not guaranteed. Photo courtsey of the CLAW MLS.
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By Valerie Fitzgerald, Luxury Real Estate in Beverly Hills & West LA
(Coldwell Banker Residential Brokerage)
Take Your Real Estate Game To The Next Level Looking for strategies to strengthen your real estate business in this new real estate market in which we're living? Valerie Fitzgerald’s Heart & Sold Mentor Program is the answer. In response to wanting to share her tool kit with other real estate agents and entrepreneurs, Fitzgerald launched the Heart and Sold Mentoring Program -- an authentic, transformative, mentoring experience to help move people's business forward using proven strategies Fitzgerald has tapped that are effective and efficient.    With cumulative real estate sales over $1 billion, Fitzgerald has dominated the Beverly Hills and West Los Angeles real estate markets for more than 20 years. She's topped tens of dozens Top 10 and Top 100 real estate lists across the U.S. and...
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By Valerie Fitzgerald, Luxury Real Estate in Beverly Hills & West LA
(Coldwell Banker Residential Brokerage)
  Become a part of the Valerie Fitzgerald Group... Do you want to work with one of the top selling real estate agents in West Los Angeles? Do you currently hold your California real estate license? Are you a buyer's agent? Do you have some experience under your belt? Are you smart and motivated?  If you've answered yes, please fax your resume to 310-271-9204 to be considered for this position.   Questions? Email tragoddess12@gmail.com. About Valerie Fitzgerald Valerie Fitzgerald is the president of The Valerie Fitzgerald Group and specializes in luxury residential real estate in West Los Angeles in neighborhoods like Beverly Hills, Bel Air, Brentwood, Santa Monica and Malibu.  She is the author of Heart and Sold: How to Survive and Build a Recession-Proof Business (Simon and Schuster)....
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