Luxury home prices are still heading down
By Lauren Beale, Los Angeles Times
10:27 AM PST, December 13, 2010
While Southland housing values overall have rebounded from recent lows, those in the upper end of the market may not yet have hit bottom. Some experts don’t see a turnaround for at least another year.
On its glittering surface, the Southern California luxury housing market still has plenty of pizzazz.
A 48,000-square-foot Versailles-style estate in Bel-Air that sold for $50 million is believed to be the highest-priced sale in the nation this year. Actor Sacha Baron Cohen spent $18.9 million on a Mediterranean villa in the Hollywood Hills, a record for that area.
These trophy deals, however, are masking a larger malaise in the luxury market. Most mansions put up for sale are lingering for months without nibbles from buyers, real estate agents say. And although Southland home prices overall have rebounded from lows hit last year, the luxury market is still trending downward.
To see the rest of the story: http://www.latimes.com/business/la-fi-luxury-housing-market-20101213,0,1547660.story
A few years back, before our intrepid Kitty Felde relocated herself to DC, we’d profile volunteer opportunities of various kinds that Angelenos could take advantage of.
We all pretended to think of it as a pain in the ass. But our little Grinch hearts grew three sizes each time we talked to people who actually volunteered and gave of their time – even as we struggled to figure out whether doing stories on this stuff is a conflict of interest.
Comes news that seems economically relevant this year. A friend who works for Teles Properties – a real estate company – says the traditional company party is off this year. Instead, Teles realtors are going to do some Heal the Bay volunteering: they’re meeting for a 2 1/2 hour cleanup – Heal the Bay traditionally does a little edjumacation at the beginning of that, about beach trash and urban coastal issues (at least if KPCC’s own sessions are any guide).
To see full story: 89.3 KPCC | Southern California Public Radio | Season\’s Givings, revisited
Ernie’s listings are featured on the cover and inside pages.
The Los Angeles October 2010 Micro Market Report for single family homes is now available. Please click the link below to download.
The Los Angeles September 2010 Micro Market Report for single family homes is now available. Please click the link below to download.
The Los Angeles August 2010 Micro Market Report for single family homes is now available. Please click the link below to download.
Over an acre of beautiful, private architectural estate property in the heart of Beachwood Canyon with panoramic views in all directions—downtown, ocean, Hollywood Sign and the Observatory.
Gated driveway arrives at 4 Br, 3Ba contemporary residence offering tremendous outdoor entertaining spaces , whether grassy yard and Pool or huge terraces with outdoor fireplace and al fresco dining.
Stylish Open Kitchen serves as eat-in forum with top line appliances, seating booth and breakfast bar. Main floor double suite offers flexible use as work space or guest bedroom. Master Suite soars above the city with fresh air Terrace and mahogany nautical-themed spa bath. Additional bedrooms, lounges and destinations, including outdoor stone shower. Rare opportunity!
LISTING AGENT: Ernie Carswell 424.202.3226 email@example.com