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West Hollywood, CA Real Estate News

By Matt Sweeney, Rich Kids Real Estate
(Rich Kids Real Estate: The Brokerage)
Dramatice Expansive View of Unit #1 - Best Value I try to keep an objective eye when I look at property, but I can't help but gush about this specific newdevelopment project that has been on the market for quite some time. A little known secret (or possibly a  widely known one depending on who you are talking to) is that often when a new condo project hits the market, the developers (or we agents) create a tiered pricing matrix when assessing value to a particular unit or project. As I might have blogged about before, the simplest ways to break these pricing levels down are as follows: 1) Developer's are in dream world and it is never going to happen 2) Prices have been reduced to a point where there is now interest from the public, but the numbers are still too far from the actual mar...
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
Gov. Arnold Schwarzenegger - Giving him credit where credit is due. Appearing on "ABC's This Week", Gov. Arnold Schwarzennegger (R-Calif.) accused his Republican colleagues of blatant hypocrisy on the stimulus package. He referred to the Republican's opposition to the jobs bill in public while accepting Federal Funds for stimulus related projects in their home districts. Schwarzenneger went on to say: "I find it interesting that you have a lot of Republicans running around and pushing back on the stimulus money .... and then they go out and do the photo ops, posing with the big check and they say 'Isn't this great, look at the kind of money I've provided for the state.'" I congratulate Gov. Schwarzenegger for having the guts to finally acknowledge the hypocrisy of his fellow Republicans. 
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
West Hollywood Condos Open Houses - Sunday 2/21/2010 (1:00pm - 4:00pm) If you're not represented by a Realtor/Broker and would like additional information on any of the Open Houses scheduled, please do not hesitate to call or email me: Stewart Penn - Penn Properties -  (310) 866-1818 - stewart@pennpropertiesla.com 702 Huntley Drive - $1,695,000 1200 N Sweetzer Ave #10 - $1,325,000 751 N Fairfax Ave #6 - $1,250,000 925 N Genesee Ave #1 - $999,000 964 Hancock Ave #101 - $879,000 8265 Fountain Ave #201 - $799,000 999 N Doheny Dr #1101 - $699,000 1345 Hayworth Ave #116 - $649,000 911 N Kings Rd #210 - $469,000 1015 N Kings Rd #208 - $439,000 740 N Kings Rd #215 - $379,000 Information from the CLAW MLS is deemed correct but not guaranteed.   Search The MLS: Stewart Penn - Realtor for homes,...
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By Matt Sweeney, Rich Kids Real Estate
(Rich Kids Real Estate: The Brokerage)
Aside from new construction, there have only been a handful of resale condos as of late that I have really fallen in love with. Most recently, my favorites are the ones that I have either listed or sold. It's not that I am biased, I am just lucky enough to have clients with amazing taste.  V, L, and D that means you!!! When I saw this property on the MLS, it was love at first site. It had not even been on the market one day when I was pleading with the listing agent to let me preview for a client who needs something ASAP. Often I talk about the Rich Kids aesthetic or style, which to me encapsulates sleek architecture with contemporary fixtures and design. Conversely, there is a side of me that absolutely loves a well done, modern, traditional property. When describing this aesthetic to ...
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By Matt Sweeney, Rich Kids Real Estate
(Rich Kids Real Estate: The Brokerage)
If you have ever been to the Viceroy Hotel in either Santa Monica (the bar has become a bit of a cougar den, which is a gold mine for you rich kids who love mature ladies) or Palm Springs (more of a cou-gay den), than you will  absolutely get my reference when it comes to today's Hot Prop! The Viceroy is simple, chic, and minimal with a dash of old Hollywood glamour thrown in - exactly what this home embodies. Featuring clean, sharp angles with expansive walls of glass to frame explosive views of the city, this is rich kids living at it's best. There is a distinct contrast between the simplicity of the stark white exterior and the more detailed architectural elements which makes for an impressive curb appeal. I love how the owner uses draperies as a way to accentuate the interior parkin...
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
West Hollywood  - Single Family Houses Sold in January 2010:Market Report for January 2010: Average Selling Price: $1,197,700Average List Price: $1,358,000Median Price: $1,012,500Total Sold in Dollars: $11,977,000Number of Homes Sold:  10Lowest Price Sale: $620,000Highest Price Sale: $2,150,000Average Days on the Market: 179 MLS Information deemed reliable but not guaranteed.
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
West Hollywood Condos sold in January 2010:Market Report for January 2010: (December/November/October/September/August)Average Selling Price: $599,000 ($580,000 / $652,000 / $514,000 / $523,000 / $509,560) Average List Price: $628,000 ($609,000 / $685,000 / $591,000/ $539,300 / $538,774)Median Price: $510,000 ($550,000 / $485,000 / $462,500 / $494,500 / $450,000)Total Sold in Dollars: $13,170,000 ($9,859,000 / $15,008,000 / $14,386,000 / $12,551,000 / $15,796,000)Number of Units Sold:  22 (17/23/28/24/31)Lowest Price Condo Sold: $270,000 ($315,000 / $243,000 / $235,000 / $230,000 / $299,000)Highest Price Condo Sold: $1,555,000 ($1,185,000 / $1,775,000 / $1,200,000 / $835,000 / $880,000)Average Days on the Market: 125 (101/98/68/107/93) MLS Information deemed reliable but not guaranteed.
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
West Hollywood Condos Open Houses - Sunday 2/7/2010 (1:00pm - 4:00pm) If you're not represented by a Realtor/Broker and would like additional information on any of the Open Houses scheduled, please do not hesitate to call or email me: Stewart Penn - Penn Properties -  (310) 866-1818 - stewart@pennpropertiesla.com 600 N Sweetzer Ave - $1, 619,000 (Listed by Eric Ross) 751 Fairfax Ave #2 - $751,000 (Listed by Keller Williams Sunset) 851 N Kings Rd #210 - $685,000 (Listed by Choice Realty) 1322 N Detroit St #3 - $539,000 (Listed by Deasy Penner & Partners) 911 N Kings Rd #212 - $469,000 (Listed by Coldwell Banker Sunset Blvd) 838 N Dohency Dr #503 - $450,000 (Listed by Sotheby's Sunset) 1015 N Kings Rd #208 -  $$469,000 (Listed by Prudential California)  Information from the CLAW MLS is de...
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
West Hollywood Open Houses - Sunday 2/7/2010 (1:00pm - 4:00pm) Single Family Houses: If you're not represented by a Realtor/Broker and would like additional information on any of the Open Houses scheduled, please do not hesitate to call or email me: Stewart Penn - Penn Properties -  (310) 866-1818 - stewart@pennpropertiesla.com 427 Westbourne Dr - $2,349,000 (Keller Williams Sunset) 811 Huntley Dr - $1,950,000 (Keller Williams Sunset) 729 N Stanley Ave - $925,000 (Coldwell Banker Beverly Hills) 733 N Vista Street - $849,000 (Coldwell Banker Sunset Blvd) Information from the CLAW MLS is deemed correct but not guaranteed. Photos courtesy of the CLAW MLS.
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By Matt Sweeney, Rich Kids Real Estate
(Rich Kids Real Estate: The Brokerage)
For all you rich kids, bears, twinks, leather daddies, dominants, submissives, masc jock bros (I hate when people advertise themselves as such in their online profiles), otters, trannies on rollerskates, lesbian nuns, owls, and gals that love gays  - Cobalt is back!!!  Back in the  90's, Cobalt was the place to be on Friday nights in Silverlake. No matter what segment of the gay community you identified with, Cobalt welcomed everyone with open arms to partake in their legendary Friday night happy hours. Whether you were just getting off work in need of a few drinks or were looking for someone simply to get you off,  there was no better place to begin or end your evening. Their signature drink/creation was the Blue Margarita (I wonder if this is along the lines of the Blue Pacifico Marga...
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
Are Private-Equity firms going to replace banks' lending to small and midsize home builders? Bloomberg.com reports that "More than 40 U.S. homebuilders have teamed up with private equity firms to acquire and complete unfinished subdivisions as banks cut construction lending." I think this is an interesting and noteworthy trend. Businessweek refers to these private equity firms as "Homebuilder's new Sugar Daddy". But the Wall Street Journal reports that the money isn't cheap. "For loans, some private-equity firms were offering interest rates of roughly 15% to 20%.
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
The West Hollywood Planning Commission has voted "No" to an over-sized new development proposed by developer Casden Properties, situated at the corner of Santa Monica Blvd and Poinsettia Place in West Hollywood. The proposed mixed-use project - Movietown Plaza - was to include 294 condos, 76 affordable housing units for seniors, and a 32,000 sq ft retail component. Neighbors and local residents complained that the project was too tall, too dense, and would generate too much additional traffic in the already grid-locked area. I'm all in favor of the re-development of West Hollywood and the replacement of old and characterless strip malls .... .... but think that any new development needs to be on a scale that "fits" the neighborhood. UPDATE: 2/17/2010 In what appears to be a suprise move...
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
West Hollywood Single-Family Homes Sold in January 2010 / (December 2009) Lowest Price House Sold: $630,000 ($530,000)         Highest Price House Sold: $2,150,000 ($975,000) Average Selling Price: $1,320,250 ($742,000) Average List Price: $1,517,750 ($768,000) Median Price: N/A ($716,000) Total Sold in Dollars: $10,722,000 ($4,452,000)Average Days on the Market: N/A (43) Number of Sales: 8 (6) Statistics obtained from The CLAW MLS are deemed reliable but not guaranteed. Photos courtsey of the CLAW MLS.
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
West Hollywood Open Houses - Sunday 1/31/2010 (2:00pm - 4:00pm) Single Family Houses: If you're not represented by a Realtor/Broker and would like additional information on any of the Open Houses scheduled, please do not hesitate to call or email me: Stewart Penn - Penn Properties -  (310) 866-1818 - stewart@pennpropertiesla.com 427 Westbourne Dr - $2,349,000 (Listed by Alejandro Lombardo - Keller Williams Sunset) 330 Huntley Dr - $2,299,000 (Listed by Brian Mazurkiewica - Pridential California Realty) 702 Huntley Dr - $1,695,000 (Listed by The Sunset Team - Keller williams Sunset) 513 Norwich Dr - $1,625,000 (Listed by Scott Ryan - Coldwell Banker Sunset Blvd) Information obtained from the CLAW MLS is deemed correct but not guaranteed. Photos courtesy of the CLAW MLS.
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
West Hollywood Condos Open Houses - Tuesday 1/26/2010 (11:00am - 2:00pm) If you're not represented by a Realtor/Broker and would like additional information on any of the Open Houses scheduled, please do not hesitate to call or email me: Stewart Penn - Penn Properties -  (310) 866-1818 - stewart@pennpropertiesla.com 9255 Doheny Rd #1805 - $2,975,000 (Listed by Russell Felice - Sotheby's Sunset) 1100 Alta Loma Rd #907 - $1,175,000 (Listed by Christie St. James - Prudential California) 925 N Genesee Ave #1 - $999,000 (Listed by Lydia Symon - Coldwell Banker Malibu) 838 N Doheny Dr #1101 - $795,000 (Listed by Valerie Fitzgerald - Coldwell Banker Beverly Hills) 1322 N Detroit St #6 - $709,000 (Listed by Lisa Paperno - Deasy Penner & Partners) 1129 Larrabee St #6 - $640,000 (Listed by Conni...
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
West Hollywood Open Houses for 1/24/201 (1:00-4:00pm) Single Family Homes: If you're not represented by a Realtor and would like additional information on any of the Open Houses scheduled for today, please do not hesitate to call or email me: Stewart Penn - Penn Properties -  (310) 866-1818 - stewart@pennpropertiesla.com 427 Westbourne Drive - $2,349,000 (Listed by Alejandro Lomabrdo - Keller Williams Realty Sunset) 330 Huntley Drive - $2,299,000 (Listed by Brian Mazurkiewicz - Prudential Realty) 811 Huntley Drive - $1,950,000 (Listed by Alejandro Lombardo - Keller Williams Realty Sunset) 513 Norwich Drive - $1,625,000 (Listed by Scott Ryan - Coldwell Banker Sunset Blvd) 8610 Rugby Drive - $1,499,000 (Listed by Deanna Ruttenberg - Metropolitan Realty) 8552 West Knoll Drive - $1,195,000 ...
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
West Hollywood Single-Family Homes Sold in December 2009 Lowest Price House Sold: $530,000        Highest Price House Sold: $975,000 Average Selling Price: $742,000             Average List Price: $768,000Median Price: $716,000                         Total Sold in Dollars: $4,452,000 Average Days on the Market: 43 Number of Sales: 6 Statistics obtained from The CLAW MLS and are deemed reliable but not guaranteed. Photos courtesy of the CLAW MLS.
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
West Hollywood Condos: Market Report for December 2009 (November/October/September/August) Average Selling Price: $580,000 ($652,000 / $514,000 / $523,000 / $509,560)  Average List Price: $609,000 ($685,000 / $591,000/ $539,300 / $538,774) Median Price: $550,000 ($485,000 / $462,500 / $494,500 / $450,000) Total Sold in Dollars: $9,859,000 ($15,008,000 / $14,386,000 / $12,551,000 / $15,796,000) Number of Units Sold:  17 (23/28/24/31) Lowest Price Condo Sold: $315,000 ($243,000 / $235,000 / $230,000 / $299,000) Highest Price Condo Sold: $1,185,000 ($1,775,000 / $1,200,000 / $835,000 / $880,000) Average Days on the Market: 101 (98/68/107/93) Statistics obtained from The CLAW MLS are deemed reliable but not guarenteed and rounded off for ease of comparison. Photos courtsey of the CLAW MLS.
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
Moveyourmoney.info is getting serious attention by elected representatives and civic leaders. This week, New York's Mayor Michael Bloomberg announced that New York would seek to deposit $25 Million of its municipal tax dollars in neighborhood credit unions. Brian Egolf, New Mexico's state representative is introducing a bill to move the state's money out of Bank of America and into banks and credit unions chartered in New Mexico. He's recommending to move as much as $1.4 Billion. New Mexico's Gov. Bill Richardson (D) supports this initiative.  It seems like this good idea is gaining momentum .....
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By Harrison Painter, New Media Consultant
(GoGladiator Media)
BREAKING NEWS: GoGladiator Media is Reporting that the Twitter Crash was due to Bill Gates, not Haiti. Bill Gates crashes Twitter, and Windows users feel at home on the platform.   LOVE IT!  Harrison Painter Social Media News for Hire GoGladiator Media (317) 871-1000
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