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August 22, 2018

L.A.’s First $1 Billion Residential Listing Hits the Market. There is one catch: House not included

The most expensive property ever listed in Los Angeles doesn’t include a house. Instead, the 157-acre, sprawling swath of land accessed by a winding road just a hop-skip from Rodeo Drive comes with a near endless supply of bragging rights. Located on the highest peak in Beverly Hills, The Mountain, as its been christened, offers a developer’s dream of lots of flat land with 360-degree ocean-to-skyscraper views. It even sports L.A.’s most famous zip code, 90210. But when it comes to standing out from the...

July 30, 2018

Take a Look Inside the Private LAX Terminal for Celebrities and the Elite

As if private drivers, helicopters, and jets weren't enough, now there's an even more exclusive way to travel. For celebrities, executives, and other high-profile travelers flying in or out of Los Angeles, there is now the option of going through The Private Suite, a new private terminal at Los Angeles International Airport that makes the arrival and departure process a bit more comfortable. It's highly secured, safe, and paparazzi-free, so if you haven't been seeing as many photos of familiar faces like Kim Kardashian West and clan galavanting around LAX...

July 27, 2018

BEVERLY HILLS BANS ELECTRIC SCOOTERS

The Beverly Hills City Council on Tuesday banned the use of motorized scooters in the city for six months, citing public safety concerns as the two-wheelers have become more popular. Under the ordinance, people are not allowed to ride the scooters — or leave them behind — on any public right of way. The council voted 4 to 1 during a special meeting to implement the ban. Vice Mayor John Mirisch was the sole dissenter. City officials have noticed a dramatic uptick in recent weeks in the...

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June 14, 2018

Fed raises interest rates and signals faster hikes on the way

Interest rates are going up again as the economy gets hotter The Federal Reserve on Wednesday lifted its benchmark rate by a quarter of a percentage point, the second hike this year. And a majority of policy makers said they now expect a total of four interest rate increases this year. Fed officials had been split about whether to raise rates three times this year or four. The decision reflected an economy that's getting even stronger. Unemployment is 3.8%, the lowest since 2000, and inflation is creeping higher. The...

April 25, 2018

Why High-Flying U.S. Home Prices Are About to Get Another Jolt

The U.S. housing market’s storyline for the last several years has been one of steady demand and limited supply, pushing prices ever higher. Now, a new chapter has opened up for the industry and its customers: soaring costs for building materials. Reports on Tuesday underscored both resilient purchase activity and accelerating home prices. The S&P CoreLogic Case-Shiller index showed property values in 20 major U.S. cities climbed 6.8 percent in February, the biggest year-over-year gain since June 2014. Government data revealed a faster-than-projected rate of new-home...

April 11, 2018

2018 California Housing Market Forecast

2018 California Housing Market Forecast - interesting info - check it out. *California’s housing market will post a nominal increase in 2017, as supply shortages and affordability constraints hamper market activity. The C.A.R. forecast sees a slight increase in existing home sales of 1.0 percent next year to reach 426,200 units....

April 10, 2018

Instagram, Facebook photos spur Millennials to become homeowners

They’re landing better jobs and higher salaries. They’re getting married and having kids. And they’re tired of living in their parents’ basements. Now, here’s another reason Millennials are itching to buy a house: They see photos of homes on Instagram and Facebook that their friends bought, and think: “What about me”? This "FOMO" — fear of missing out — has become one of the forces spurring many Millennials to finally buy a home, according to a Bank of America survey of 2,000 adults early this year. “I think it’s motivating...

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April 9, 2018

Why Los Angeles Attracted Boundary-Pushing Architects

*AIA architect Richard Banta designed home listed & sold by Chris Jacobs The possibility for starting anew attracts those dedicated to making a better way of life for themselves and others. From the Gold Rush prospectors to the bungalow brigade, millions have flocked to the hills and valleys of the Los Angeles area in search of a better life. The nurturing natural environment and open-minded cultural ambiance have long fostered a native tradition of innovative house design. Early experiments in residential architecture engaged the local traditions of...

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March 26, 2018

LOVE IT OR HATE IT, TAX REFORM IS NOW LAW.

Love taxes? Didn’t think so, but it is best to be in the know with the new tax reforms of 2018 that will effect your real estate property. Mortgage interest deduction: As of January 1, 2018, the new cap for mortgage interest deductions is $750,000, down from $1 million. The mortgage interest deduction for existing mortgages of up to $1 million secured before Dec. 15, 2017 will not be affected. Homeowners may also refinance mortgage debts existing as of Dec. 14, 2017 up to $ 1 million...

March 14, 2018

The Playboy Mansion Won’t Be Demolished After All

New owner Daren Metropoulos and Los Angeles city council member Paul Koretz signed a protection covenant agreeing not to demolish the house The Playboy Mansion will live on despite the death of its famous owner, Hugh Hefner, according to an agreement recently signed between new owner Metropoulos and the city of Los Angeles. The agreement, referred to as a permanent protection covenant, states that Metropoulos will agree not to demolish the 14,000-square-foot main residence where Hefner threw raucous parties and hosted a bevy of live-in beauties. The covenant...

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