About Beverly Hills' BHPO

The Beverly Hills Real Estate blog Thursday 12-22-11

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Please e-mail us at: mrpk1@pacbell.net should you need immediate assistance.

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Thursday – Windy with sunshine. High 64F. Winds NE at 20 to 30 mph with stronger winds in and below canyons and passes. 4days and counting!

Here are this week's new articles on California real estate:

• Better lender bureau will accept your mortgage grievance

Home loan borrowers may now submit a mortgage complaint online with...

Cast a Vote
Who do you think should be responsible for receiving and resolving mortgage complaints from home loan borrowers?

• Federal Housing Administration bailout just around the corner?

The FHA has a 50% chance of requiring a...

• The FICO farce
• The underlying cause of stunted home sales volume and sticky pricing may be...
• Appraisal management to the rescue?
• Appraisers who were under third-party contract with...
• Retirees: don’t sweat the mortgage debt
• The American Dream of paying off mortgage debt on retirement and...

· December Update : Jobs move real estate
Employment continued to rise in the month of November, both statewide and...

· December Update : Reeling from California’s lack of jobs
The most recent peak month for unemployment was January 2010, when...

· December Update : Home sales volume and price peaks
32,669 new and resale home transactions closed escrow in California during...

· December Update : Buyer purchasing power
A homebuyer’s maximum financial ability to purchase property depends entirely upon...

· December Update : Price-per-square-foot analysis of California home sales
Two separate profiles have been charted from data on...

Have a great real estate deal, low 8’s, Hollywood Hills, if you know someone looking…

Have a great one and Count Your Blessings.

This Beverly Hills Post Office short sale “appears” to be a new listing...on the MLS for 3 days, but it’s actually an extended listing. It was listed about 2 ½ months ago with another agent as a “Notice of Default” sale, for $1,895,000.

The home did not sell, and is now listed with another agent as a short sale for $1,795,000. And while it is a great location up in the hills, adjacent to the Vineyard Beverly Hills Estates...the comps show that the price is still too high.

This is a mid century home, built in 1958 with 3,024 sqft, but much of the sought after architectural details are MIA. I wonder if the vaulted ceilings were lined with wood back in the day?

The home definitely takes advantageous of the gorgeous views, and does so with the stereotypical “walls of glass” that the coveted mid century homes are known for.

The floor plan does include the open spaces popular of this era, as evidenced in the great room, and to some extent in the kitchen, with the eat-in-dining area.

The grounds are lovely, and there is room for a pool.

The bedrooms are a little sleepy, but they are spacious and the master bedroom has a charming fireplace.

Overall, it's a lovely home in the Beverly Hills Post Office area, and it's now a short sale...so get crackin' if you're interested!

If you'd like to see this home in person, please email me, or call me at 213-309-5005.

Listing provided courtesy of Charles H. Le, RE/MAX Execs - Beverly Hills

9563 LIME ORCHARD RD , BEVERLY HILLS 90210
$1,800,000 “Bank Approved Price”

This Beverly Hills mid century home was recently listed as a short sale with a "bank approved" listing price. When I see the words "bank approved price" as a Buyer's Agent it takes the guess work out of wondering where the bank will counter back...now we know. But, as a Listing Agent letting Buyers know this is the "approved" price...that the bank has spoken and countering at this point is a waste of time...can be off putting to Buyers.

Always remember...in real estate, everything is negotiable.

Sp take a look at this Beverly Hills mid century short sale home. This home was built in 1961, which was towards the end of the mid century design influence, and it's bones are definitely showing in a good way. The 'post and beam' bones that is!

The exterior of this home is very traditional, but when you walk inside, you're hit with a wonderful surprise...

...with strong architectural lines and a double height entry foyer, with the light pouring in and surrounded by trees making the home feel like an intimate cabin in Big Bear. But, that intimate cabin just happens to have 3,214 square feet with 4BR's and 4 baths!

This home has some of the best features of the mid century homes...high ceilings, walls of glass, large rooms (the master suite is huge!), window design and placement that 'brings the outdoors in.' The dining room opens to the outdoor space and the living room also is practically at one with the outdoor space!

This home sits on a very secluded lot, in a very beautiful area of the mountain. The grounds, the private drive and the surrounding area are park like.

If you would like to see this home in person, please email or call me! Thx, Jayne

Listing provided courtesy of Raymond Ross of Ewing & Assoc. Sotheby's

Beverly Hills short sale, walkable to shops

621 N. Palm Dr.

$4,195,000_________________________________

This beautiful Beverly Hills short sale home is walkable to shops within the Beverly Hills Post Office area. It has a walk score of 66 (walkscore.com), which is considered “somewhat walkable.” But, oh...what a walk it is!

It’s a .8 mile walk to the world’s most exclusive shopping street...Rodeo Dr. And the walk is past multi million dollar homes and many elegant parks (also known as the yards of these homes!). This home is set back from the street behind a very English manor looking doorway.

This Beverly Hills short sale home is listed by Jade Mills of Coldwell Banker and has 4400 square feet with 5BR’s, 4.5 baths, and is situated on a 14,760 lot of prime Beverly Hills real estate. The step down living room has period rich Cathedral ceilings and a beautiful hand-carved fireplace.

The gourmet kitchen with a center island, a butler’s pantry and breakfast area is beautifully upgraded for today’s buyers.

Built in 1925, the home has all of today’s upgrades, yet the original charm of the period is maintained. The spacious first floor master suite has dual baths and large closets. There is a maids room downstairs and a two bedroom suite and a den upstairs.

A stunning library and a billiards room flow into the comfortable family room with an English wine room and a wet bar.

The grounds are extensive, with assorted fruit trees and flowers, romantic outdoor dining area, fountain, pool, putting green, and a large country cottage guesthouse.

If you’re interested in seeing this Beverly Hills short sale home in person, let me know and I’ll make it happen. Jayne, 213/309-5005

While my clients from NYC seemed to have brought the inclimate east coast winter weather with them (just kidding, guys), the rain didn't dampen another Rich Kids closing celebration yesterday! As I have mentioned before, a RK closing isn't just your average every day "your deed has just been recorded with the county, congrats!" type of scenario. It is always a call for a true celebration tailored to each particular clients' interests, always involving a bottle or two of the closing beverage of choice, Vueve, which is a RK tradition (well, until we meet somebody who doesn't drink in which case a Vueve label might be slapped on a bottle on sparkling cider - luckily that hasn't happened yet). We had a huge closing celebration at Katusya where no topic of conversation was off limits, followed by a bottle of champagne at the property courtesy of a very kind flight attendant at American Airlines who knew my clients were closing. Tawny, we all raised a glass to both you and the friendly skies for such a generous donation to our festivities!!! What I love about real estate is that I get to be part of a major transition in my clients' lives. I always say that I truly get swept up in their excitement and relish the chance to vicariously share their experience. This is the most amazing part of the job!

Just to recap the property...Located on Coldwater Canyon Lane, just off of Mulholland, one gets the best of both worlds. Situated down a long private road, you have the sense of complete privacy while being 5 minutes south of the center of Beverly Hills or 5 minutes north to the best of Studio City. This majestic wooded lot is set up compound style with: a separate 2 car garage/parking court that can fit 5-6 cars, steps that lead to a 2 story guest house with full kitchen/bath/fireplace/massive bedroom, and the main house below with 3br/3ba. The views from the main house showcase panoramic canyon views as well as overlooking the dramatic blue waters of the pool down below. The pool is probably one of the largest I have ever seen in a SFR and I have been in some of the biggest homes in town. Situated on 1.9 acres that are well utilized, this is a truly a rare offering at a fantastic value.

I don't think my description nor the photos truly capture the magic of this property. Even with the wet weather, we all sat on this window seat in the empty house yesterday watching the rain pour down over the canyons and bright blue swimming pool perfectly framed right in front of us. Just looking at the vacant green hills beyond, I was conjuring up images of Julie Andrews spinning around in the "The Sound of Music"...OK busted - you guys know me too well. I was really thinking about how much it looked like the scenery from Brokeback Mountain, but I digress.

I wanted to wish the N family a very warm welcome to LA. I know this is pretty big move, but I can already tell that you will be well loved by everybody that you meet on your new adventure. I am holding you to those pool parties that I've thoughtfully planned out for you Thank you for being such wonderful new additions to the Rich Kids family!!!