Westside Estate Agency http://www.weahomes.com Beverly Hills, Malibu, Miami Thu, 19 Jan 2017 01:13:32 +0000 en-US hourly 1 https://wordpress.org/?v=4.6.1 WEA December 2016 Micro Report http://www.weahomes.com/wea-december-2016-micro-report/ Tue, 17 Jan 2017 23:05:55 +0000 http://www.weahomes.com/?p=25892 Click here to view WEA’s December 2016 Micro Market Report:

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Click here to view WEA’s December 2016 Micro Market Report:

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DJ Samantha Ronson spins a home sale in Santa Monica http://www.weahomes.com/dj-samantha-ronson-spins-home-sale-santa-monica/ Fri, 23 Dec 2016 00:42:55 +0000 http://www.weahomes.com/?p=25671 Disc jockey and singer-songwriter Samantha Ronson has sold her quaint home in Santa Monica for...read more

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Disc jockey and singer-songwriter Samantha Ronson has sold her quaint home in Santa Monica for the asking price of $1.299 million.

The cozy bungalow, built in 1926, features hardwood floors, wood-paneled accent walls and beamed ceilings.

Set beyond a brick walkway and a broad covered porch, the 1,170 square feet of living space includes an updated galley-style kitchen, a living room with a wood-burning fireplace, two bedrooms and two bathrooms. A white claw-foot soaking tub lends a vintage touch to the master bath.

French doors open off the rear to the backyard, which has an outdoor fireplace, benches and picnic tables for dining and lounging.

The property came back on the market in November and sold in exactly one month, according to the Multiple Listing Service.

Carl Gambino of Westside Estate Agency was the listing agent. Scott Harvey of Figure 8 Realty repped the buyer.

Ronson, 39, has released such songs as “Pull My Hair Out,” “If It’s Gonna Rain” and “Built This Way,” the latter of which was featured in the 2004 film “Mean Girls.” Earlier this year, she released the debut single “Good News” with her new band, Ocean Park Standoff.

She bought the house four years ago for $810,000, records show.

Click here to read the full story on the latimes.com.

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‘Full House’ creator gets $20.2 million for spec house, and other top sales http://www.weahomes.com/full-house-creator-gets-20-2-million-spec-house-top-sales/ Fri, 23 Dec 2016 00:37:12 +0000 http://www.weahomes.com/?p=25668 A pricey trade between limited liability companies, a TV producer’s score above the Sunset Strip...read more

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A pricey trade between limited liability companies, a TV producer’s score above the Sunset Strip and the sale of a Hollywood director’s former home were among the high-water transactions recorded through the middle of November.

Here’s a larger look at the deals closed between Nov. 13-26.

$16.1 million — Santa Monica

Sandra Brass, the daughter of late Houston-based businessman Sanford Brass, sold an updated contemporary in the 2100 block of La Mesa Drive for $6.9 million less than the original asking price of $23 million.

Built for film director Herbert Ross, whose credits include the 1984 film “Footloose,” the 9,296-square-foot house was recently renovated and features walls of glass and a large central skylight that floods the interiors in natural light. A theater with seating for 20, a climate-controlled wine cellar and separate guest wings also lie within the home.

Walls of glass slide to reveal a lounge area with swimming pool, a sitting area and a fire pit. Views take in the greens and fairways of the Riviera Country Club golf course.

The home was listed at $16.5 million prior to the sale, records show.

Sandra Miller of Engel & Volkers was the listing agent. Richard Ehrlich of Westside Estate Agency represented the buyer.

Click here to read the full story on the latimes.com.

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Glass Castle in Bel Air Sells for $39 Million http://www.weahomes.com/glass-castle-bel-air-sells-39-million/ Thu, 22 Dec 2016 22:53:46 +0000 http://www.weahomes.com/?p=25663 An unidentified businessman has bought the massive—and somewhat controversial—spec home on Stradella Road in Bel...read more

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An unidentified businessman has bought the massive—and somewhat controversial—spec home on Stradella Road in Bel Air for $39 million, according to a listing agent for the property.

The architectural house designed by Paul McClean went on the market in 2014 for $55 million before undergoing a series of price cuts. The home sold on Friday afternoon, listing agent Rayni Williams told Mansion Global about an hour after the closing.

Ms. Williams, one of several listing agents, and buyer’s agent Fred Bernstein of Westside Estate Agency said they could not reveal the identity of the new owner. Ms. Williams would only say that the buyer was an American businessman.

The techy glass castle is built into a celebrity-speckled hill in Bel Air, which offers panoramic views over Los Angeles and the ocean.

The 14,200-square-foot home is a network of open entertainment spaces. Staggered living rooms flow into each other and onto an outdoor deck through a series of automatic doors and collapsing glass walls, the listing explains.

One of the spaces includes a lounge with a sleek, glossy full bar with seating for four (and probably more). There’s also a separate catering kitchen and an underground, 10-car garage.

Some elements indicate the home was built for more than your average bon vivant. For instance, the wine-cellar is secured by thumbprint recognition.

The seven-bedroom, 11-bathroom house also has a billiards room, a luxurious-looking home theater, a gym with a steam room and a master suite with dual showroom-sized walk-in closets.

Design-wise, the estate defies any notion that Southern California is in the throes of drought. There’s a lush lawn of green grass, a 90-foot infinity pool in addition to smaller reflection pools.

At one point, the building’s water use came under fire as neighbors complained about a regular rill of water emptying into the street from the property, The New York Times reported in 2015.

Click here to read the full story.

 

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THE TRUMP EFFECT http://www.weahomes.com/the-trump-effect/ Sat, 17 Dec 2016 00:50:45 +0000 http://www.weahomes.com/?p=25878 Since my last letter, we have elected a new President of the United States. Whether you are for or against him, Donald Trump will be our new President come mid-January....read more

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Since my last letter, we have elected a new President of the United States. Whether you are for or against him, Donald Trump will be our new President come mid-January.

It seems quite clear that our POTUS-elect has chosen to put successful businessmen in positions to advise and direct our country’s finances. I was told today that America’s economy is the biggest business in the world. Therefore, why wouldn’t Trump hire the most successful and brightest business people to run the government? The Obama Administration went the other way and specifically avoided placing business people in his government and advisory positions.

Social issues aside, I think the Trump Administration will be good for business and will dramatically increase the economy. This will go a long way to stabilize and increase residential real estate values. Additionally, any possible tax cuts in capital gains and ordinary income tax rates will also have a positive influence.

One potential problem could be interest rates. Rates have been at or near historic levels for years, but if the GNP increases then we will see a consistent rise in interest rates. This increase will certainly have an effect on first time or average price homebuyers as well as developers relying on bank loans to finance their projects.

The best we can all do is support our new leaders and wish them and our country well. Looking outside our country, it is evident that the United States is the most secure economy in the world in which to invest6

Go U.S.A.

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WEA November 2016 Micro Report http://www.weahomes.com/wea-november-2016-micro-report/ Thu, 15 Dec 2016 19:40:29 +0000 http://www.weahomes.com/?p=25886 Click here to view WEA’s November 2016 Micro Market Report:

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Click here to view WEA’s November 2016 Micro Market Report:

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Silicon Valley tech executives are buying luxury second homes in L.A. at increased rate http://www.weahomes.com/silicon-valley-tech-executives-buying-luxury-second-homes-l-increased-rate/ Wed, 07 Dec 2016 18:35:18 +0000 http://www.weahomes.com/?p=25606 Sales numbers reported by a leading Los Angeles luxury home sales broker show that a...read more

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Sales numbers reported by a leading Los Angeles luxury home sales broker show that a significant number of high-net-worth individuals from Silicon Valley are buying second homes in the Silicon Beach/Westside area of L.A.

Whether they want to be closer to business interests or to the leisure culture L.A. has to offer, the number of buyers with a Silicon Valley mailing address who purchased a home in the region that includes Bel Air, Beverly Hills, Malibu, Marina del Rey, Santa Monica, West Hollywood and the surrounding areas has been growing.

Westside Estate Agency (WEA) reported in an analysis of its monthly micro-reports an almost three-fold increase in real estate sales in the most sought-after neighborhoods in the Westside/Silicon Beach area, home of LA’s burgeoning technology industry, from 2007 to 2016, with most of the growth happening in the past two years.

WEA specializes in luxury properties valued at more than $1 million in the Westside, a market that grew 71 percent from the second to third quarters of this year and was up 11.5 percent compared to the third quarter of 2015.

According to Data provided by CoreLogic, a real estate data and analytics company based in Irvine, California, the number of buyers in the 13 zip codes loosely called Westside in the period January through mid-October 2016 who listed a property tax mailing address in the San Francisco area was 21, the highest number since before the economic downturn in 2007.

Silicon Beach has become the second-largest tech hub in the country behind Silicon Valley, Forbes reported. So it makes sense that tech executives from San Francisco may find themselves in need of a home base when they visit operations in L.A.

Stephen Shapiro, co-founder of WEA, said the high-net-worth buyers enjoy the L.A. lifestyle, and there is a larger selection of luxury estate homes to choose from in L.A. than in San Francisco.

“They are looking for property on the beach where they can relax,” Shapiro said.

He said some of the homes may only get used a few days a year, but that the strength of the Westside luxury market makes homes a good investment, which appeals to high-net-worth individuals.

WEA has facilitated Westside purchases by Larry Ellison of Oracle, Sean Parker of Facebook and Napster, Blake Kerkorian of Sling Media, and Evan Spiegel of Snapchat, and recently hosted a meeting in Silicon Valley to connect with that region’s top realtors.

Ultra-wealthy clients expect one-on-one attention, Shapiro said, and focusing on their needs has helped him grow his business from renting houses to film and record industry customers in the 1970s to a company with multi-million dollar listings.

“Most of our business comes from referrals and previous clients,” he said. “Good clients view us as a partner and use us over and over.”

A 2015 Ipsos MediaCT survey said high-net-worth millennials were the most likely age group to purchase a new home in the next year. Both millennials and Gen Xers in the category were expected to pay an average of around $5 million for new homes. High net worth is generally defined as having more than $1 million in liquid assets.

So what features are important to an uber-wealthy millennial tech executive looking for a $5 million-plus home?

The survey showed the luxury buyer is looking for a smart home that’s fully automated and wired; that is LEED-certified or meets other sustainability criteria such as solar power; has an open floor plan; and has a home gym, a theater and a safe room.

They are also looking for four or more garages and a wine cellar or wine room, and may want an outdoor kitchen and deep water dock or pool.

Click here to read the full article on bizjournals.com.

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LA Times Top Sales: $17.085 million — Bel-Air http://www.weahomes.com/la-times-top-sales-17-085-million-bel-air/ Wed, 07 Dec 2016 18:28:03 +0000 http://www.weahomes.com/?p=25602 In the 10000 block of Levico Way, an arm of Chinese entertainment company Huayi Brothers...read more

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In the 10000 block of Levico Way, an arm of Chinese entertainment company Huayi Brothers bought an eight-plus-acre property in a gated community.

Found within a guard-gated community of just four homes, the undeveloped property includes a flat portion of more than two acres. Views from the site take in downtown L.A., Century City and Stone Canyon Reservoir.

The property relisted in January for $19.95 million and was more recently listed at $17.95 million, records show.

Stephen Shapiro of Westside Estate Agency had the listing.

Click here to see other top sales on the latimes.com.

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WEA Featured Agent: Taunya Boileau http://www.weahomes.com/wea-featured-agent-taunya-boileau/ Wed, 07 Dec 2016 18:21:42 +0000 http://www.weahomes.com/?p=25598 WEA agents are from the worlds of business, entertainment, academia, and, of course, real estate. They are an incredible group of agents that have a passion for business, architecture, and...read more

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WEA agents are from the worlds of business, entertainment, academia, and, of course, real estate. They are an incredible group of agents that have a passion for business, architecture, and their local communities. This month’s featured agent is Taunya Boileau. See what Taunya shares about herself on her WEA profile by clicking here.

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REALITY VS REALITY TV http://www.weahomes.com/reality-vs-reality-tv/ Wed, 07 Dec 2016 18:14:04 +0000 http://www.weahomes.com/?p=25595 Have you ever watched “Million Dollar Listing?” It makes real estate look easy. The agent shows a house, makes a phone call to the seller and they immediately agree on...read more

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Have you ever watched “Million Dollar Listing?” It makes real estate look easy. The agent shows a house, makes a phone call to the seller and they immediately agree on a deal. Then, they show the commission the agent has earned and, what appears to be this season’s newest gimmick, the agent presents the keys to the buyer after that simple phone call.

There is no reference to a contract, no escrow, no inspections, no loans, no appraisals, no re-negotiations after inspections or cancelled escrows. Wouldn’t life be great if our deals resembled those? People who watch these shows see the agents driving fancy Rolls Royces, Porsches, Maseratis, chauffeur driven vehicles, and hiring personal “lifestyle coaches” and they think being a real estate broker is the simplest job in the world, as well as lucrative. It’s sad that people think this is how the business works. And, by the way, there is no reality depicted in these shows, as they are all carefully scripted from start to finish.

Honest, hard working real estate agents work their butts off. They don’t want to be celebrities; they want to satisfy their clients’ wishes and dreams. Frequently, the deals take not only several months but endure many twists and turns before one actually closes and a pay day follows – one that isn’t always as rosy as the ones depicted on TV.

Don’t be fooled, real estate brokers earn each and every penny from the deals they close, and they don’t get paid to be a real estate actor on a scripted TV show.

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