Christies vs. Sothebys
When it comes to luxury and estate home auctions, two names stand alone as the hands down greatest in the business: Sotheby’s real estate, and Christie’s Great Estates, the realty branch of legendary Christie’s auction house. And though both real estate companies carry the prestige and honor that comes from being associated with the world’s most respected auction houses, you should take the time to make sure that you choose the house that best represents your needs.
Founded in 1976, Sotheby’s International Realty is a luxury real estate network. Like Christie’s, Sotheby’s properties can be found around the world- from extensive parcels of land to historical homes, and everything in between. Both auction houses are dedicated to the marketing and sales of high end real estate, and both are known for catering to the most discerning of clientele.
The differences between the two real estate auction houses become apparent only upon deeper inspection. Perhaps the most notable of these discrepancies came to light during the current rocky economic situation. While Christie’s Auction house managed to remain steadfast, Sotheby’s faltered, having to cut ties with Sky Realty in order to regain their balance. In today’s turbulent realty market, it’s more important than ever to go with a company that can rise above the crisis- something to keep in mind as you make your choice.
Another area of importance to consider before you begin the search for your dream home is customer service. Traditionally, Sotheby’s takes a more aloof, distanced approach to home sales, while Christie’s places a heavier emphasis on client satisfaction.
Regardless of which auction house you decide to go with, make sure you have the highest caliber of real estate agent to work with. A realtor that is familiar with luxury and estate homes will be your greatest asset as you navigate the sometimes turbulent waters of high end realty auctions.
Pacific Palisades Real Estate
People who come to the Pacific Palisades for the first time find it to be the best kept secret in Los Angeles. It is the northernmost suburban area of L.A., before moving on to the beachfront areas of Malibu and beyond. Pacific Palisades is where Sunset Boulevard meets the Pacific Coast Highway – the beginning of famed Sunset Boulevard, or the end, depending how you look at it. Unlike Malibu, the Palisades are a much larger community, with a larger shopping center, more schools, while being closer to the rest of L.A. than areas to the north up PCH.
What’s remarkable about the Palisades is that it feels like a small town nestled in the giant metropolis of Los Angeles. Unlike other suburban neighborhoods, like Westwood, the Pacific Palisades is a totally independent entity. Nothing borders the Palisades to the west, except the ocean, or to the east, except the mountains. This is core to why the Palisades are such an exceptional community.
For many the Palisades are a kind of best of both worlds – the feeling of a small, safe town, with no feeling of isolation. Some of the finest homes in L.A. are in the Santa Monica Mountains surrounding the Palisades, as it is increasingly becoming a destination for those seeking luxury real estate in Los Angeles. If you are in the market for a Pacific Palisades home, there is every type of home available: five bedroom and above mansions, or smaller one and two-bedroom homes. This combination means there are homes available in the Pacific Palisades for a varied list of home shoppers.
Buying Brentwood Real Estate
Brentwood is one of those places in Los Angeles that has blossomed quickly as a luxury real estate center. Certainly, it was always a nice neighborhood – but in the seventies and eighties it was not nearly as cosmopolitan as it is today. The Westward Ho, a supermarket chain on San Vicente, has been replaced with a Whole Foods. The All American Burger on the corner of Barrington and Vicente has been replaced with a coffee house. The entire feeling of Brentwood is becoming more chic, and more coveted.
Brentwood residential real estate is also very varied. Some neighborhoods North of Sunset are populated by lavish mansions protected by a front security gate. But there are also condos and small one or two-bedroom homes throughout Brentwood, even north of Sunset, where the most coveted real estate resides – indeed north of Sunset is the most coveted real estate throughout Los Angeles, from the Pacific Palisades to Hollywood.
Surprising as it may seem, Brentwood was actually once a modest neighborhood. It may now be synonymous with Los Angeles luxury real estate, but there are also modest suburban communities in Brentwood as well. Whatever type of home you are searching for in Brentwood, you will be able to find a dynamic and appropriate Brentwood home, a home that you can be proud to call your own.
Brentwood may have had modest beginnings, but now it is now becoming a premier boutique-shopping and dining destination in Los Angeles. As a result, Brentwood real estate is continually going up in value. It may not have the name recognition of a Beverly Hills or even a Bel-Air, but most any resident of Los Angeles knows that Brentwood is one of the most prized neighborhoods in the city.
Realtors: Two’s a Crowd
When it comes to your home search, you may think that working with more than one real estate agent will give you more options, but the truth may turn out to be quite the opposite. In fact, most home buying experts agree- the best course of action is to find one realtor that you trust, and stick with them.
An experienced agent will ask all the right questions, pair you with a great mortgage broker, and take you to see only the properties that fit your budget and desires. Working with more than one agent can lead to confusion, and a lot of wasted time, as you drive around town visiting the same properties you’ve already visited, or worse, homes that you have no interest in at all.
And if you need to sell your home before you can buy, it’s much more beneficial to work with the same agent for both phases. Building up your relationship with your realtor means you will be dealing with someone who understands your wants and needs as well as you do. And during what can be a very stressful time, it always helps to cut out extra work whenever you can!
Beverly Hills and Bel-Air Real Estate – A Tale of Two Neighborhoods
There’s probably no address that has the cache of Beverly Hills – certainly not in Los Angeles. Malibu’s a rival for the same type of reputation, but it still doesn’t have the fame and notoriety of Beverly Hills. TV shows have been named after it, and people come from far and wide to visit the street where Elizabeth Taylor played as a girl on Santa Monica Boulevard or gawk at the mansions, or just gawk the people on Rodeo Drive.
At the same time, some are surprised that some real estate in Beverly Hills are not castle-sized mansions. Many who visit Beverly Hills find that there are smaller homes within the confines of Beverly Hills’ city limits as well. The larger estate-style mansions are often in Bel-Air, north of Sunset. In Beverly Hills, the homes are closer together, by and large. This is not to say, by any means, that there aren’t plenty of wondrous homes in Beverly Hills. There certainly are. But there are more modest homes as well, so it suits a wide variety of potential home buyers.
The cache is still there, whatever your address and whatever your type of home. This is the area where old Hollywood frolicked in the past and it has a real sense of history. The glitz and the glamor isn’t just because of the expense of Beverly Hills homes, but because of their enduring beauty. Additionally, homes in Beverly Hills are entirely unique. You will not see two homes that look alike.
If you’re interested in more seclusion, then a Bel-Air home is a better solution, as there is more commonly a wide berth between homes, as well as less traffic. But if you like being a part of Beverly Hills culture – Rodeo Drive, the people watching, the pride of having a Beverly Hills address – then Beverly Hills should be your first destination for buying a home.
How to Make an Offer on A House
Everyone is aware that we are living in a difficult real estate climate. But what is difficult for some is potentially easier for others. In a time when real estate can remain on the market for a year or more, home sellers are more eager to sell – which means something very important: you can underbid a home seller to get the best possible price on a home. When you’re dealing with the high expense of Beverly Hills and Westside real estate – property that is highly valued even during a real estate slow-down – this become even more crucial.
So how can you effectively negotiate with a seller to ensure they won’t just turn away and offer the house to another bidder? First off, you should hope you are not in competition with other home buyers, as this can make the price go up, as each buyer tries to outbid the other. Christie’s is most certainly familiar with the auction principle.
Regardless of this type of bidding, you need to be well-prepared before making an offer on Beverly Hills real estate:
- Find out the value of homes in the surrounding area to determine if the asking price is fair or overvalued. You should be bidding on market value, not necessarily on asking price.
- Make sure sales data is recent, as the real estate prices can fluctuate quite widely. This will also give you a sense of the potential long-term valuation of the property.
- Conduct a house inspection – even if the asking price is reasonable, it could be overvalued if the home is need of extensive repairs and upkeep.
- Hire a qualified real estate agent. Unless you’re an experienced haggler, it can be difficult to negotiate with a seller for a lower price on your own. A real estate agent will be able to get you the best deal possible.
All things considered, right now is potentially a very good time to be buying a home. High-end real estate tends to hold its value, so you shouldn’t necessarily be hindered by the state of the overall real estate market.
Broker Bites: Finding the Right Mortgage for You
Unless you’re a rock star, an A list actor, or a wealthy heiress with a penchant for designer Chihuahuas, chances are you will need a mortgage loan to purchase a home. And while everyone’s goals when home buying fall under the same general categories (finding the best interest rates, and the lowest prices) not everyone knows how to get there.
That’s where finding a mortgage broker comes in. Working closely with you and your real estate agent, a broker can save you thousands of dollars over the life of your loan.
When shopping around for a mortgage broker, don’t be afraid to ask questions. And a good mortgage broker will also ask you a lot of questions. You wouldn’t expect a doctor to recommend taking your appendix out before he’s examined you. Think of your mortgage lender in the same light. They can not possibly recommend the right kind of loan without knowing who you are and what your financial situation looks like first.
Remember, this is likely the most important purchase you will ever make; and a small mistake up front can cost you dearly in the end.
Get the Scoop: Home Buying Know How
Contrary to what you might see on home and garden shows, the home buying process is a bit more complicated than walking through three homes and choosing the one you like best. In today’s sometimes turbulent real estate market, buying a home can be a delicate, and often tedious, ocean to navigate. But knowing what you want- and what you can afford- are the foundation upon which you can build your dream home search.
Beginning your journey with a real estate professional is a key first step when buying a new home. An experienced realtor can walk you through the home buying process, helping you avoid the common pitfalls of shopping for a new home.
Pre approval for a loan is another huge time (and energy) saver. Knowing exactly how much home you can afford will help your real estate agent match you with a home and neighborhood that fit your style and budget perfectly.
Finally, the most important quality in a home buyer is flexibility. You should never cave in on the qualities that you think are most important in a new home- but keeping an open mind is crucial.
Tips and Tricks: Clever Ideas for Selling Your Home
Selling a house is one of the most important decisions you will ever make as a homeowner, and not one to be taken lightly. Keeping a few real estate tips in mind as you begin the process will help make your transition an easy one- and maximize your profits in the mean time! Here, our real estate experts share a few tricks of the trade:
Disconnect your emotions: It’s difficult, but you need to start looking at your house as an investment instead of a home. Detaching yourself from the building will help you see it as a property, not a gathering of memories.
Make it anonymous: Buyers need to be able to picture their own family living in a potential home. If a space is too personal, all they will see is remnants of your life there. Take down your family photographs, clear the shelves of knick knacks, and put away the kid’s toys. Then, give the walls a fresh coat of paint in a neutral color. That way, everyone that walks through can appreciate all the open spaces and lovely details of the house.
Keep it clean: In a buyer’s eyes, clutter, mildew and cracks in the wall equal work that needs to be done. Clearing out the junk and giving the kitchen, bathrooms, and carpets a good cleaning will earn you a fatter bottom line.
And finally-
Choose an experienced real estate agent: A realtor that is familiar with home values in your area is your best bet for maximizing profits- and making your home sale go as smoothly as possible.
Price Reductions in Los Angeles Real Estate
Everyone likes a good sale. People spend their lives looking for a bargain and finding cheap prices – yes, even people who can afford luxury real estate. Unfortunately, with real estate price drops are not what you want to see because a very low price drop means that the value of the home may never recover, and so you’ve bought a home that is worth less than you pay for it. That’s the worst case scenario.
What if you buy a home that continually drops? Should you wait until the price hits bottom – but at that point is it worth it to buy such a devalued home? These are the many questions that are crossing home-buyers minds in this economic climate. Fortunately, for those looking into high end Westside L.A. real estate, these issues are not as pressing. For one, luxury real estate, by virtue of its quality, retains value unlike home markets in other areas. Which has the potential to be the best of both worlds – both a drop in prices, making L.A. real estate more affordable, while still having great potential to go up again once the overall housing crisis is corrected.
You should not be worrying too much about home values on the Westside: Brentwood, Westwood, Beverly Hills, Santa Monica, and so on. The homes that are seeing the greatest price and value drops are not in these areas. Instead, they’re centered in neighborhoods in Long Beach and other parts of Los Angeles a far drive from the Westside. The closest neighborhood with high price reductions right now is West Hollywood. The rest are situated far and wide. In short, it’s not something you should be worrying about, but it’s most certainly something you can use to your advantage by buying a home at a competitive price.
