Category: Real Estate News

Location, Location, Location

Written by: Samantha Guarderas

     Aggression seems to be key for the Chinese who are dominating the American real estate market these days. In May, a Chinese couple purchased a mansion on Sunset Boulevard, in what was a much talked about sale. Now, Asian buyers are hoping to continue investing in American real estate to reap the benefits.

Asian buyers have already bought half of the new Ritz-Carlton Residences, which is located in South Park.This could be partly due to the fact that it is conveniently located near major Los Angeles attractions such as the Staples Center and L.A. Live. One of the buyers purchased six condominiums from the building and is currently looking to purchase up to 50 units in a separate Los Angeles development, according to a recent article in the Wall Street Journal. Regardless, it is clear that both location and aggression are playing a major factor in the urge for buyers to make their move. The time is now.

Eklipse Real Estate is offering the “now” through all three of our current listings. The locations are set among some of the most desirable places in Los Angeles. If you are looking to invest in a condominium or home, Eklipse Real Estate offers the following options:

  • Dream Luxury Home: 536 Dalehurst Ave. Located in the quiet and exclusive neighborhood of Little Holmby
  • Contemporary Condominium Complex: 1411 Main Street in the heart of Venice, California
  • Cozy Old World Spanish Style Home: 736 North June Street right off of Melrose in Hollywood

 

Phillip Braunstein is the listing agent.

Skyscrapers

Written by: Johanna De La Fuente
According to the “Park La Brea News,”  after eight years of discussion, the Los Angeles city council passed the community plan for the development of skyscrapers in Hollywood on June 19th.

The plan will boost commercial and residential real estate development in Hollywood, while also preserving its historical landmarks. It will also provide rules and regulations on future transportation options, as well as the aim to increase developments near public transportation systems.

In the last few years, Hollywood has seen a 35% decrease in population. Yet, The Southern California Association of Governments has made advanced assumptions that there will be a rise in Hollywood’s population.  The Census, however, has predicted another decline in population in the upcoming years.

Business and population density entering Hollywood would be beneficial in many ways to the city, such as the creation and transformation of shops and markets, which will also promote traveling without the need for a car.

“The plan will provide forward momentum to keep Hollywood on its path to revitalization… it will be beneficial to lawmakers, community leaders, investors, property owners and other decision makers in determining what kind of retail, housing and jobs to bring to Hollywood.”   – Kelly Morrisson

Eklipse’s hot listing, located at 736 N. June Street, 90038 has attracted many buyers looking to live in Hollywood. It is a 2 bedroom, 2 bathroom home. Check out the property at www.NewVillaFrancesca.com. The listing agent is Phillip Braunstein.

International Buyers Entering the U.S Real Estate Market

Written by: Johanna De La Fuente

$82.5 billion dollars was invested by international buyers in the United States real estate market! This all happened in the last 12 month period that ended in March, according to the National Association of Realtors. With the seemingly endless turmoil in Greece, Spain, Italy, and Ireland, coupled with the potential dissolution of the European Union; international buyers are flocking toward the states to acquire properties.

This might seem at odds to Americans who constantly hear about the unstable housing market at home and the imperceptible recovery of the market that is keeping many domestic home buyers to stay on the sidelines, worrying that the market might double dip or remain stagnant. These international buyers are predominantly from countries such as Mexico, China, Brazil, the United Kingdom, Canada, and India, according to a recent article in the Wall Street Journal.

At two recent open houses in Los Angeles at Eklipse’s listings, Phillip Braunstein met several potential buyers from Indonesia, China, Denmark, and the United Kingdom who were looking to purchase the homes. Several of them already owned homes in Los Angeles and were looking to purchase another home for a relative or as an investment rental property.

While Sellers and real estate agents see this influx of foreign buying as a boon, many see it as a bane whereby foreigners are buying the limited amount of homes available in prime locations, excluding Americans from living in the properties in their own country.  For the time being, it seems that most professionals involved in the real estate business are welcoming the increased business from these all cash buyers, and when you’re at your next open house, keep your ears open for what foreign accents you can hear from people prospecting the home…

Luxury Homes Rebound in Los Angeles

Written by: Johanna De La Fuente

A spur of bidding wars has occurred as luxury home properties are in high demand. Within days of a listing going live, there are multiple offers and deals made immediately. Offers are even coming in over the asking price. The Los Angeles areas, such as Brentwood, Beverly Hills, and Bel Air, have incited numerous bidding wars on luxury properties, as prices are rising, and investors are returning to the market. Even homes in need of renovation are in demand, in hopes to flip and resell for a higher price. (See WSJ “Big Homes are Back in Business“)

Throughout the U.S., prices for residential properties over $1 million, have risen 7.2 percent. Bidders are acting quickly, minimizing listing times. Luxury properties no longer linger in the market as they did two years ago. There is no time for hesitation to submit an offer. The need to act quickly is not just because of high demand but also due to low inventory, as there are less sellers listing their homes.

Eklipse Real Estate is taking part in the luxury bid war with its new listing posted this week! The luxury property is located at 536 Dalehurst Ave, in  the beautiful area of Little Holmby. It is a 4 bedroom, 4.5 bathroom home, priced at $3,495,000. Check out the pictures online at www.536Dalehurst.com. Phillip Braunstein is the listing agent.

California Housing Market Improvement!

Written by: Johanna De La Fuente

The rise in median home pricing and  the decline in foreclosure sales have been key contributions to the improvement of the housing market recently. From the same time last year, the sale of real estate has improved8.6%. As the market improves, new construction is also increasing.

Eklipse Real Estate is a full service brokerage firm and is also involved in developing several real estate projects in Los Angeles. One of its currents developments is a single family home in Hollywood on Clinton Street, just south of the happening shops and restaurants on Melrose Avenue, 90036. Eklipse will be listing the Spanish style 2 bedroom, 2 bath home in the upcoming weeks.

Silicon Beach: New Listing!

Written by: Johanna De La Fuente

Venice, California has become one of the most desirable places to live in Los Angeles. It is now well known for its artistic vibes, night life entertainment, beaches, and architectural buildings, such as the Frank Gehry-designed building.There is sucha high demand to be a part of this beach living that Google, Inc. has decided to call Venice its home base by leasing out 100,000 sq ft of office space in the binocular building, right on Main Street.

 

Google hopes to take advantage of this location by attracting “workers from local colleges and partnership with entertainment and media people.”

 

 

You too can be a part of this area by moving into the new condo building, Main at the Beach, located a few blocks south of Google Inc. headquarters. Eklipse Real Estate has the listing for the building at 1411 Main Street, Venice, CA.

Phillip Braunstein is the listing Agent.

 

 

 

Young Buyers

Written By: Johanna De La Fuente

The Wall Street Journal reported today about a surge in real estate purchases by young buyers. The most notable real estate purchases by young buyers have been made by Petra and Tamara Ecclestones, who have spent over 150 million on real estate purchased in the last year, including the Spelling Manor in Beverly Hills for $85M.


 

 

“I keep resale value in mind and that a premium location and security are paramount considerations.”                                                                                                                              
        – Ms. Ecclestone

 

 

 

 

 

Many of these young buyers are also first time home buyers who are looking to take advantage of the decline in real estate prices before prices rise again.

Similarly, Eklipse Real Estate’s new listing in Hollywood, located at 736 N. June Street, 90038, has attracted many young buyers looking to live in the heart of Hollywood. Phillip Braunstein, Eklipse’s CEO, is the listing agent for the home.

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