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Available Now!  Offered at $2,800 per month.  This gorgeous 1 Bedroom, 1.50 Bath Designer done condominium features beautiful kitchens & baths boasting granite, travertine , stainless appliances, a flat screen TV, custom built-in cabinets & banquet dining area with granite table top. A large patio overlooks the lushly landscaped courtyard! For property photos & video, please visit our website here... The Park Wellington is perhaps one of the best kept secrets in West Hollywood.  Its well kept grounds and resort like amenities make it a haven for many in the entertainment biz.  Most likely since its across from the Sunset Marquis Hotel.  Sunset Plaza dining & shopping, Equinox, Trader Joes and so much more surround you.  If you are looking to lease in a fine building for under $3,000 per month, the Park Wellington is the place!

Although, we love Zillow for many of its useful informative features, there is something to consider about their valuations. For major metro areas, with many neighborhoods within another "like Los Angeles", they are unable to truly grasp the real values neighborhood by neighborhood, street by street, and most often affected substantially, condo buildings. Zillow estimated values are based on limited data provided from assessor information and local MLS reports. Assessor/Title information is very limited. It only provides you with the sale price, square footage, beds & bath, and lot area size. Same goes for the MLS when data is only downloaded. This is a great start, but there are many more factors to be considered when valuing a property. For instance; If you own a condo, the floor your unit resides on, the view, the fit & finish, year built and quality of the building are what truly define the value of your unit. These factors are not considered in Zillow...

Economists predict a steady housing recovery through 2016.   A quarterly survey of more than 100 economists shows growing optimism for the real estate market when it comes to housing prices. The majority of the economists surveyed say they expect home prices to steadily increase for the next four years.      The economists surveyed expect home prices to rise 2.3 percent this year over the fourth-quarter of 2011, according to the survey conducted on behalf of Zillow. In 2013, they expect prices to rise 4.7 percent; 8 percent in 2014; 11.4 percent in 2015; and 15.2 percent in 2016.     "This is further evidence that we're seeing a true recovery in the housing market," says Stan Humphries, Zillow's chief economist. "Not since mid-2010—in the midst of the homebuyer tax credits—have we seen this group so bullish on housing. It's refreshing to see this optimism at a time when the market seems to be making an organic re...

Recent statistics show, buying a home in Los Angeles is about 30% less expensive than renting. According to Trulia; "Home prices have started to rebound and have risen by 2.3% year over year in August (3.8% excluding foreclosures); however, rents have risen more (4.7%). This means that prices are lower relative to rents than they were a year ago. But more importantly, mortgage rates have fallen: the best rates this summer have been around 3.5%, while last summer rates were closer to 4.5%.Based on asking prices and rents during the summer of 2012, buying is now about 30% cheaper than renting in the Los Angeles metro area, on average – that’s a savings of $630 a month. If you plan to stay in a home for 7 years, which is the average time that Americans traditionally live in a home before moving again, it is more affordable to buy than to rent in ALL of the 100 largest metros in the U.S." Trulia statistics In the greater Los Angeles metro area, show a mortgage average of $1...

The total assessed value of properties in Los Angeles County is now just over $1 trillion, almost $25 billion more than last year.  This shows signs of an upturn in the market not seen in over 5 years. Property taxes in Los Angeles County have also increased by more than two percent, according to the assessor’s office. The real estate market has shifted considerably over the last 12 – 18 months. Inventory reductions have begun to turn Los Angeles more towards a sellers’ market, where properties sell quickly and often for the full asking price. The number of homes for sale in the L.A. metro area has declined sharply over the last year or so. According to Realtor.com, the total number of listings dropped by 29% from July 2011 to July of this year. This allows homeowners to set, and justify, higher asking prices when listing their homes. House & condo prices have been going up monthly.  The latest release of the S&P/Case-Shiller Home Price Index was published at the...

After several years of examining Plaza Towers renovation needs, they are final getting close to an approved plan! So far the rumored plans are going to completely transform the building making it one of the finest high rises on Doheny Drive.  The estimated plans include a brand new lobby with walls of glass opening out to the soon to be remodeled pool area.  New balcony railings "hopefully glass" bringing the outdoor areas safer and up to today's code standards. New hallways, plumbing, exterior paint and a revamp of the rooftop pool will also be included. The assessments will be large, but well worth it. The values are sure to skyrocket after completion.  If you are an investor or savvy buyer looking for a full service high rise, this is the place. Once completed it will compare closely to the Sierra Towers and definitely trump the Doheny Plaza and Doheny West . The units at the Plaza Towers are very spacious and boast being built to condo spe...

The Century Plaza Hotel site has just been approved by the city panning commission for an overhaul. The Developer, Next Century, originally planned to demolish the 1966 Century Plaza, which was designed by World Trade Center architect Minoru Yamasaki, and replace it with two condo - office towers. But preservationists rallied and Next Century eventually settled on a renovation of the hotel and the addition of two condo towers behind it, with no office usage. The towers will each be 46 stories and designed by Pei Cobb Freed & Partners. The top five floors of the hotel will be converted into 63 condos for a total of 353 units at the site. Next Century will also add "nearly 105,000 square feet of shops and restaurants," as well as about two acres of green space. The hotel's back pool will be moved onto the roof with a separate pool for the towers. The developers will also fill in the sunken front plaza and add two restaurants on top, closer to the street. The hotel...

Just out from Washington... The nation's five largest banks are off to a good start on their promise to help ease the foreclosure crisis, providing nearly 140,000 struggling homeowners with a total of $10.6 billion in mortgage debt relief, according to a government report. Housing and Urban Development Secretary Shaun Donovan said; "We will continue holding the banks' feet to the fire in the months ahead, and we will be watching like hawks to make sure they live up to the requirements under this settlement." The report from the Office of Mortgage Settlement Oversight showed that Bank of America had faltered in one key area. It did not complete a single modification of a first mortgage from the settlement's start date of March 1 through June 30. The other four banks had completed a total of 7,093 modifications of first mortgages worth $749 million during that same period. JP Morgan Chase completed the most, 2,920, with the highest value at $...

Pending home sales rose in July to the highest level in over two years and remain well above year-ago levels, according to the National Association of Realtors®. The Pending Home Sales Index,* a forward-looking indicator based on contract signings, rose 2.4 percent to 101.7 in July from 99.3 in June and is 12.4 percent above July 2011 when it was 90.5. The data reflect contracts but not closings. Lawrence Yun , NAR chief economist, said the index is at the highest level since April 2010, which was shortly before the closing deadline for the home buyer tax credit. "While the month-to-month movement has been uneven, more importantly we now have 15 consecutive months of year-over-year gains in contract activity," Yun said. Limited inventory is constraining market activity. "All regions saw monthly increases in home-buying activity except for the West, which is now experiencing an acute inventory shortage," Yun added. Existing-home sales are projected to rise 8 to ...

If you live in high demand areas such as Beverly Hills, The Hollywood Hills or West Hollywood and its surrounding areas, there is currently an inventory shortage.  Our group alone has over 40 buyers with no properties currently on the market that interest them. That being said, this is great news for sellers who have owned their homes for over 7 years.  Chances are, you have equity and options. If you have equity, now is also the time to take advantage of "trading up" to a larger home.  With rates still at historic lows, your money will go quite a bit further as well.  The market has stabilized and properties that are priced well are even going into multiple offers. That certainly does not mean that there are no longer deals to be had.  They are out there, you just need to know how to find them. Keep in mind, the areas we are discussing are different then the rest of the country.  What you might see on the national news, speaking in general about the...

Prince Abdulaziz ibn Abdullah ibn Abdulaziz al Saud, son of the Saudi King Abdullah, has won a victory to complete his once estimated 85,000 sq foot compound.  He decided to down size plans for his Benedict Canyon Compound, from 85,000 square feet down to roughly 52,000 square feet. By doing this he was "technically" in compliance with the law.  The rule at issue is City Building Code sec. 91.7006.8.2 which requires projects that are subject to subdivision to apply for a tentative tract map prior to grading on sites greater than 60,000 square feet. The city and certain neighbors argued that this provision is applicable to the Saudi prince's project even though no subdivision was proposed or contemplated. Hence, they argued the project requires a discretionary review and public hearings. The court found that the code section is not applicable to the project and ordered the city not to apply this provision to the project. The proposed project consists of three single f...

Gloria Shulman has been a true asset in guiding our buyers in transactions ranging from 1st time home ownership, to major investments.  Her experience is second to none.  We rely heavily on her expertise to get the deal done! During her thirty years as a mortgage broker in California and throughout the United States, Gloria Shulman has come to be regarded as THE industry pace-setter. Her referral base is extensive and nationwide. Gloria has personally funded over 30,000 loans, but still counts her successes one at a time. Gloria devotes herself personally and professionally to each and every one of her clients, offering the support and ongoing communication needed in the fast-paced business of real estate finance. CPAs, business managers, bankers, attorneys and real estate agents have all come to know Gloria as a broker who can be relied upon; someone with the financial savvy, exceptional attention to detail, supportive spirit and innovative style that make h...

The Greystone Mansion has mostly been open for filming and for outdoor events, but it's now throwing open its grand doors for corporate & special parties.  Greystone was designed by Gordon Kaufmann and built in 1928 by oil baron Edward Doheny for his son Ned--Ned and his personal secretary Hugh Plunkett.  Both were killed under somewhat mysterious circumstances in the house in 1929.  In June 1969 Greystone was leased to The American Film Institute. AFI used the many rooms of the house as offices, classes and screening rooms. The basement rooms were converted into dark rooms and film storage, and the great living room was transformed into a theater. AFI moved out of Greystone in 1982. The City of Beverly Hills formally dedicated Greystone Park, in 1971. On April 23, 1976 Greystone was added to the Department of Interior’s National Register of Historic Places. Today, Greystone serves as the setting for a myriad of cultural and educational activitie...

Prices are stable but inventory is dwindling.  Many West Hollywood buyers are finding themselves in multiple offer on properties that are priced well.  Unfortunately, this means many buyers are losing out.  As we see ourselves at what seems to be "bouncing along the bottom of the market," now may just be the right time to jump in and buy.  According, to local MLS statistics, condos are selling at 94% of list price as of June 2012.  Prices are incredibly affordable with two bedrooms as low as $399k.  View Available 2 Bedrooms Here Lending is getting easier, with good credit and a down payment of course, and this is bringing more buyers out into the market.  With rates as low as they are, it is the perfect recipe for a deal.  The rental market is increasing, which will soon cause people to rethink renting, if they can own for close to the same price.  Its been a while since this was an option for renters. If the inventory remains low, then ...