The Pink Panther et al

I recently visited the new SLS hotel on La Cienega. The Patisserie has been glazed in a lovely shade of pale pink, which I felt was very soothing and fresh-looking. Then, on Saturday night, I was at Charlie O’s, a Jazz club in the Valley, and Plas Johnson, the great saxophonist, was playing his original hit, the theme from the Pink Panther….and the pink sightings kept on coming. A pink life-sized faux pony rolling down Rodeo to the Juicy Couture store, a pink Mini-Cooper, Angelyne’s pink Corvette, the landmark Beverly Hills Hotel….and then, a Pink House.

That is what stopped me in my tracks. Why on earth would someone ever want to live in a pink house? Unless of course her name is Barbie and she is made by Mattel?

I would get sick of the Pepto Bismal pink. A touch of pink here and there (Becky I know you are already screaming over this story!) is perfectly acceptable. The pink cake mixer. A pink throw. Even pink carpet in a huge walk-in closet. But, please leave the pink houses to dolls and Dr. Seuss books!

Did you miss me?

I’m back! Okay, Sunday I will be holding this house open: http://guests.themls.com/view_photo.cfm?mlsnum=08-312073

It’s listed for $1,695,000 and in a GREAT neigbhorhood – nestled in between Coldwater and Trousdale Estates…easily accessible from the Sunset Strip or Beverly Hills, even Sherman Oaks, yet private and tucked away.

Truman Capote once lived in this home….a true mid-century property with a fresh contemporary aesthetic and feel. All of the windows are original, and immaculate, from 1959! The landscape is mesmorizing and the views from the top of the hill in the backyard are splendid. It’s a truly great value in a lovely area that holds it’s value (I HATE it when people use the same word twice in a sentence, but it had to be done here!).

Feel free to stop in and say hello. I will be there from 1-4:00 pm this Sunday, November 23.

Have a great Friday night y’all!

You always wanted to be Hef’s neighbor…

I forgot to show y’all the house I visited on Friday….Hef and the girls live just across the street…yonder….

http://guests.themls.com/view_photo.cfm?mlsnum=08-283821

So don’t blow it…

I’m not living under a ROCK, I know that the economy is slow…but that doesn’t mean you have to blow your chances to own a property in L.A. for a great price. The thing is that if you buy today and you have the money to pay your mortgage or even purchase in all cash (yes, loans are tough to get, but they are available), you will be making an investment. And, in six months from now if the economy continues to falter you very well might not be able to get the great financing rates that you can get today…interest rates may be up and that adds a lot to your monthly payments. The bottom line is that WE need to do our part to help stimulate the economy, without making foolish decisions. People recycle now to be “green,” why shouldn’t everyone take the same interest in our economy? If everyone stops buying EVERYTHING, then what is going to happen? The cars are going to continue to sit down at the Long Beach dock and rot in the Sun, houses will still sell to those who have the cash, when the properties are the right price…if you must sell your home in this market you have to understand one thing: Price is EVERYTHING. It has nothing to do with how much money, love and care you put into remodeling your kitchen, or what you bought it for…it’s fair market value only. The big “housing god” has no say on the value of your property, the only factor is supply and demand. The auto makers are still looking for a bailout. There IS no bailout for homeowners who MUST sell. Sure, there may be forgiveness for those that have defaulted on their mortgages, but for people that continue to pay their mortgages until they sell their properties there is no light at the end of the tunnel until they resign themselves to the fact that their house will ONLY sell if they price it right. That might mean they take a hit, but if they bought the house more than four years ago the hit is VERY unlikely. So, they break even rather than hit the jackpot like the investors, flippers and speculators did just a few short years ago. Big deal. It’s a better bet than the stock market. You can’t live in your stocks….

You want to lease while you wait? How about on a private street right behind Bartels Harley Shop in Marina del Rey? You can end your day at the nearby Ritz Carlton and enjoy a downtown vibe in your new loft. This building is a real find…originally built in 1960 it was a warehouse that has been completely remodeled into condo-lofts. Stainless Viking and Wolf appliances, commericial grade bathrooms with marble, wood and concrete floors and high ceilings. Some units are 2 and 3-stories. The owners are looking to rent out the units for now and sell as individual units in the future. Oh, and YOU can run your business out of the property as well as they are officially zoned “Live/Work.” Check them out…

http://guests.themls.com/view_photo.cfm?mlsnum=08-301845

Oh, and here is another song for you….somebody likes Gwen!

http://www.youtube.com/watch?v=h6Yi1fKZs4A

Demystifying “Brokers’ Caravan”

Doesn’t it sound mysterious…well, I suppose it is to those who do not eat, sleep and breathe real estate like we do. In the greater Los Angeles area “Brokers’ Caravan” takes place on Tuesdays from 11:00 am until 2:00 pm. It gives real estate agents, and clients who can break away during lunch time, a chance to preview new listings that have just hit the market. Caravan is a great way for me to alleviate the pain and suffering of taking a client to a house on a Sunday or making a special appointment to view a property and then be completely disappointed. This way I can use my own eyes and senses to determine whether or not it’s even worth it for you, my clients, to go and see the property…

Today I visited a couple of nice houses in Brentwood, one house in BHPO (Beverly Hills Post Office – Beverly Hills zip code, but it’s the City of Los Angeles), and a condo on Kiowa in Brentwood…that for $585,000 with a monthly home owner’s due of $300 (including earthquake insurance) seems like a deal…it does need upgrading – but, over 1300 square feet in Brentwood, walking distance from Whole Foods and Katsuya, hmmm….would make a nice holiday present for someone!

My favourite house of the day is on High Ridge in the aforementioned “Post Office.” It’s a brand-new construction, very elegant contemporary…two-story with views galore from both vantage points of the house – canyon views from the front of the house – glorified by huge picture windows and City views from the back of the house and infinity pool….the master bedroom has his and hers’ bathrooms and windows that go completely flush into the wall so that you can practically live indoors and out all at once on warm November days like this one.

The photos I shot with my Blackberry DO NOT do the property justice….so I am including a link to the MLS. All for a mere $7.7mm! But, I know of a house just two or three doors down that a “little old lady” lives in and is selling for about $1.6mm – knock it down and build your own dream house….might take a while, but all you’ve got is time, right?

Take a looksie:

http://guests.themls.com/view_photo.cfm?mlsnum=08-326659

What you waiting for?

As Ms. Stefani put it so eloquently in her song: http://www.youtube.com/watch?v=uTfbCOPApsQ

Why are you waiting to buy a property in Los Angeles? Is it because you blew your family fortune in Vegas or because your Starbucks stock isn’t doing so well? It’s Los Angeles. Everyone wants to live here. It’s 80 degrees on November 14th…enough said.

I can understand if you’re waiting to find the perfect foreclosed “diamond in the rough.” And when I see a good value, I will let you know about it, on this blog. The rest, is up to you…

Believe it or not properties are being listed everyday and selling everyday. My favorite new listing of the week is on Whittier Drive in Beverly Hills. The house nearly had me from hello as a 1960’s convertible Chevy Chevelle was parked in the driveway. With a mere $8,950,000 sticker – the house – not the car – what more could a girl ask for? Replete with personal yoga/workout studio ADJACENT (Josh – that one’s for you!) to the pool the house reminds me of a Kor group hotel (Viceroy, etc.) - imagine living in your very own private “mini” hotel. All you need to supply is the staff. Personally I’d like to see them throw in the car. Afterall, one of those private jet companies is offering a Bentley as a parting prize if you spend a cool mil with them…

I’ll try and swing by and snap a photo tomorrow for those of you junkies who need to put a face to the name.

I also know of an adorable studio condo on Stanford in Santa Monica – not too far from Busby’s….but far enough, and close to Major Motors – the high-end resale car lot. If you were to buy this condo you could actually afford any car on Major’s lot as the property was just reduced this week to $259,000. It’s a foreclosure – so it may take a couple of months for the deal to go through, but it could be worth every penny and would be a great long term investment and/or rental. (there are NO pix of this little gem online, so I took some myself…). My friend Cura and I are affectionatly calling this property “the Box.”

There really is something for everyone in today’s real estate inventory in L.A. Even in neighborhoods that you may have once thought out of your budget. And, until the end of the year, the FHA loan limit is $729,000 which means, if you qualify, you can get into a property with only 3% down – and that translates to more presents for friends and family at Christmas and Hanukkah!

That’s my two-cents for now. Stay tuned for more sense.

Blackberry pix of the Whittier house:

The pro’s depiction:

http://guests.themls.com/view_photo.cfm?mlsnum=08-326703

What does RE4REAL mean you ask?

It means “Real Estate for Real.” This is a blog about Real Estate in Los Angeles, from my point of view. I’m Cheryl Scott, a native Angelino and licensed real estate agent. I will tell it like it is, hopefully without saying “like” too much!

Let’s get started….

p.s. Thanks to Kimberly Metz for taking the photos of ME! You are the best. www.kimberlymetz.com