Foreign Cash Ruling SoCal Real Estate Market

As foreclosures plummet statewide, prices are increasing in the Southern California real estate market. Foreign investors from China, Taiwan and some from the Middle East are viewing the real estate market as a safe place to invest their cash. In the long run, the influx of foreign cash investment has the potential to allow new buyers in the market as real estate sales become more feasible.

For full article: losangeles.cbslocal.com/2013/02/18/housing-market-boom-local-home-buyers-compete-with-foreign-cash/

LiveNation CEO buys $15Million Properties in Brentwood

Two parcels spanning two acres were bought for $14.75 million by Live Nation CEO Michael Rapino. The main home is over 11,000 square feet with five bedrooms and nine bathrooms. The secondary home is 2,400 square feet with three bedrooms and three bathrooms. The home comes with a gym, screening room, game room and a pool.

For full story: http://blogs.wsj.com/developments/2013/02/20/live-nation-ceo-pays-nearly-15-million-for-los-angeles-properties/

FOR LEASE: 6BD/5BA 8300 Grand View Drive, 90046

This phenomenal property promises daily panorama from its flat stone pathway amidst mountains to breathtaking views of downtown, The Hollywood Sign, The Observatory and more. With a 2bd+1ba, 1,700+ SQ. FT. guesthouse complimenting the 3,575+SQ. FT. 4 BD + 4 BA main house, add comfort and luxury to the already astounding scenery! The main house boasts oversize glass/ wrought iron doors that open into a two- story foyer, public areas that include a spacious living room with a fireplace and sliders that open into a large deck with endless views. There’s also a spacious cook’s kitchen complete with granite counters, a center island and a breakfast area that opens to a large outdoor deck- perfect for entertaining large groups or dining al fresco with the spectacular city views as your backdrop. The whole property rents for $9000/ month in TOTAL. However, the two houses can also be rented separately with the main house leasing for $5500/ month while the guest house goes for $3500/ month. 1 Year Lease.

FOR LEASE

$9,000/mo
Active
6 Bedrooms
4.00 Bathrooms
MLS Number:  13-651677
Presented By: Dmitry Litvishkov
310-709-4920
Email: dmitry.gotham@gmail.com

DIRECTIONS:
Laurel Canyon to  Kirkwood Dr. Left on Grand View Dr.

ROOMS:
Breakfast, Den, Dining, Living
EQUIPMENT:
Dishwasher, Dryer, Microwave, Range/Oven, Refrigerator, Washer

Housing Affordability Improves in Los Angeles

 Angeles is staying resilient as housing becomes less affordable statewide. As California’s real estate prices are on the rise, is estimated that only 48% of home buyers can afford to buy a single-family, median-priced home.  However, housing affordability has managed to improve in a few California counties, including Alameda, Contra Costa, Marin, Napa, Los Angeles, Ventura, San Luis Obispo, Santa Cruz, Fresno and Kings.

For full story: www.latimes.com/business/money/la-fi-mo-affordability-california-20130225,0,3960953.story

Investors fuel growth in SoCal

Last month, investors and cash buyers were prominent players in the real estate market once again, respectively accounting for 30.7% and 34.9% of all sales. Fueled by low mortgage interest rates, rising prices and shifting mix of low-end and luxury properties, over 16,000 properties sold in Southern California counties for a median of $321,000.

For more information: http://www.latimes.com/business/money/la-fi-mo-southland-housing-20130213,0,5286697.story

Cher is selling her WeHo Sierra Tower’s Duplex

Cher is selling her West Hollywood duplex located in the Sierra Towers for a mere $5.5Million. The 2 story space is connected via a spiraling staircase and is partially renovated by Million Dollar Decorator, Martyn Lawrence-Bullard, to reflect an “ethnic, spicy, and romantic faux-Buddhist fantasia.”

12 steps to a smarter home

As accessible technology continues to becomes more prevalent homeowners can now update there homes with digital dog trackers, updated robovacs, cool video monitoring systems, and intuitive thermostats. NY Mag has shared it’s a la carte approach to updates that can make any home smarter here: http://nymag.com/homedesign/features/create-a-smart-home-2013-2/.

Chinese New Year

Move In to Barbie’s Malibu Mansion

Barbie is moving out of her Malibu mansion and now is your chance to move-in. The 3-story 1-bedroom, 1-bathroom town home is available now for $25Million.

The house is listed on Trulia: http://www.trulia.com/barbie

For more information see: http://www.forbes.com/sites/morganbrennan/2013/02/07/barbie-selling-pinktastic-malibu-dream-house-for-25-million/

Happy Valentine’s Day

Successful real estate is all about the relationships you can build and nurture. At Gotham, we have worked hard to develop all of the relationships to help you with your property needs in-house – from acquisition to construction to management. Happy Valentine’s Day to all of our friends, partners, and associates! We look forward to continuing to grow with you! -The Gotham Team