Author Archive

PUBLIC NOTICE Los Angeles Property Owners Near Wildfires Urged to Report Unsolicited Offers to Buy Their Properties Under Fair Market Value

January 17, 2025

PUBLIC NOTICE
Los Angeles Property Owners Near Wildfires Urged to Report Unsolicited Offers to Buy Their Properties Under Fair Market Value

Sacramento, Calif. – On January 14, 2025, Governor Newsom issued Executive Order N-7-25 (Order) in response to the recent Southern California fires that have devastated multiple communities across the Greater Los Angeles Area.

Following these fires, homeowners, business property owners, and faith leaders have reported receiving unsolicited offers to purchase their property, in many instances, for amounts far less than the fair market value prior to this emergency. Although property owners have the right to sell their property, those impacted by these fires, and particularly property owners who may have lost their family home or businesses, may be vulnerable to the exploitative practices of unscrupulous individuals seeking profit from this disaster. If you receive an unsolicited offer for what seems to be a lower price than what you believe your property to have been worth just before the recent wildfires, please report that to DRE at [email protected].

Summary of Executive Order N-7-25
The Order protects property owners in fire-impacted areas from predatory real estate speculators by prohibiting unsolicited offers to purchase, or acquire any interest in real property, for an amount less than the fair market value of the property or property interest, as it was on January 6, 2025. The Order applies to properties in the zip codes listed below. This prohibition is in effect until Monday, April 14, 2025. Any person who violates the Order can be convicted of a misdemeanor punishable by a fine of up to $1,000 and/or by imprisonment for up to six months.

The Order does not prohibit anyone from selling their property should they wish to do so.

Properties covered under the Order include those in the following zip codes: 90019, 90041, 90049, 90066, 90265, 90272, 90290, 90402, 91001, 91040, 91104, 91106, 91107, 93535, and 93536.

These zip codes cover areas in the Greater Los Angeles Area especially hard hit by the recent fires, such as parts of Altadena, Pacific Palisades, Pasadena, Mid-Wilshire, Eagle Rock, Barrington, Mar Vista, Malibu, Topanga, Santa Monica, Sunland, Lancaster, Culver City, and Mar Vista.

What is an unsolicited offer?

An unsolicited offer is an offer made to a property owner that was not seeking a buyer and may include offers made on properties that have not been listed or otherwise advertised for sale. An unsolicited offer might come to property owners via a variety of means – such as text, email, phone call, or mail. Such an offer may be made by people claiming that they are the prospective buyer or that they represent the buyer.

The person making that offer might offer a description of themselves as someone helping people in financial distress, an investor, a real estate agent or broker, a representative for an investor, or someone with cash on hand who buys any property in any condition.

As you look at the offer, you might notice that the price on the offer seems to be a lower value than what you estimate your property was worth before the recent wildfires.

If you experienced a situation like this after January 6, 2025, it may be in violation of Executive Order N-7-25.

What can unlawful, unfair, or fraudulent practices look like?

The person making the offer or saying that they represent a buyer threatens that you might not qualify for insurance in the future, so you should sell your property to them or their buyer.
The person promises all cash, a quick closing, a hassle-free transaction, a pre-closing cash advance, full payment of any liens, low or no commission, or the opportunity to avoid foreclosure if you sell your property to them or their buyer. While these promises are tempting, remember that the buyer or their representative speaking with you is not considering your best interests and may be trying to take advantage of your situation. It’s also important to remember that any unsolicited offer made in the next three months that is below what your property was worth before the fires is a violation of the Executive Order.
The person making the unsolicited offer is vague when answering your questions.
The offer on the property is far below what your property was worth before the fires. Even if your property is damaged or destroyed, it’s important that you take the time to have a professional help you determine the value of the property. It’s also important to remember that any unsolicited offer made in the next three months that is below what your property was worth before the fires is a violation of the Executive Order.

If you receive an unsolicited offer from a person for what seems to be a lower price than what you believed your property to be worth just before the recent wildfires, or otherwise feels unfair or fraudulent please report that to DRE at [email protected].

Take your time to evaluate an offer.
The Order protects property owners’ ability to make decisions regarding their property free from the pressure and duress which can result from aggressive and unsolicited offers to purchase your property. Keep in mind that the Order relates only to unsolicited offers to purchase your property and does not interfere with your ability or rights to sell or transfer your property otherwise.

You should take your time to make a sound decision before accepting an offer to sell your property, and consider consulting with others as to whether or not the sale is in your best interests, and, if yes, at what price and under what terms and conditions. Before you make any decisions on what to do with your property, it’s important to remember the factors that you would have considered if you were selling your home before the fires:
· You would have time to research the value of your property so you could market it at a price you are comfortable with and would be able to pay off any loans and liens (such as a mortgage).
· You would continue to make payments on your mortgage loan through the close of the sale/escrow.
· You might receive and consider other offers with different terms and conditions.
· You would sell to a buyer that best meets your financial needs as a seller.
· If it was your preference, you would have reached out to a real estate agent to assist you with the sale and/or an attorney to review the sale agreements.

Relevant Resources
There are many other resources available to you if your property has been damaged or destroyed in the recent fires and you are not sure about next steps with your property.

Your Lender/Loan Servicer
If you have a mortgage loan, you should contact your mortgage lender/loan servicer to learn about programs they may have to assist you such as temporary postponements of payments.

If you have a loan through a federal or state program, contact the program agency to learn of programs they may have to assist you. Such agencies include:
· Fannie Mae
· Freddie Mac
· U.S. Department of Housing and Urban Development
· Federal Emergency Management Agency

Your Insurance Provider
If your property has been damaged and you have fire insurance coverage, you should contact your insurance provider for information about a claim to rebuild.

If you have a question about your insurance or a dispute with your insurance company, call the California Department of Insurance at 1-800-927-4357. The California Department of Insurance also offers resources to help wildfire victims here: Resources to Help Recent Wildfire Victims

Housing Counselor
A HUD-approved housing counselor can provide advice on renting, credit issues, foreclosure avoidance, and more. Call HUD at 1-800-569-4287 to find a housing counseling agency near you or visit their website: Housing Counseling | HUD.gov / U.S. Department of Housing and Urban Development (HUD)

Legal Aid
Local non-profit, legal aid services may be able to provide additional information on resources or provide legal help.
Legal Aid Foundation of Los Angeles: Los Angeles Fire Emergency – LAFLA: Legal Aid Foundation of Los Angeles
Los Angeles Regional Small Business Legal Aid Program: LA Regional Small Business Owners Legal Aid Program – Small Business Development

National Do-Not-Call Registry
You can register your phone number on the National Do Not Call Registry to prevent unwanted sales calls. If your phone number is already on the registry, you can also report unwanted calls. Go to www.donotcall.gov for more information.

A Licensed Contractor
If you are at the point where you can start to repair or rebuild, make sure you confirm that the contractor you are looking to hire is a licensed contractor with the Contractors State License Board. https://www.cslb.ca.gov/media_room/disaster_help_center/

How to Report a Violation
If you have received an unsolicited offer to purchase your property that you believe may violate the Executive Order, please file a complaint with DRE by emailing [email protected]. We ask that you provide your name, contact information, property address, information about the person who made you an offer, and information about the unsolicited offer. You may also report the violation to the Attorney General’s Office at oag.ca.gov/report.

How DRE Will Evaluate Reports of Violations
Upon receipt of an inquiry or report of violation:
DRE will immediately respond with an acknowledgement of receipt and a list of resources available to you.
If the complaint involves a DRE licensee, DRE will assign the matter to a special investigator for an expedited investigation and will work with the Attorney General and/or local law enforcement authorities to collaborate on enforcement efforts.
If it is a complaint that does not involve a DRE licensee, DRE will immediately refer the matter to the Attorney General and will inform the person who submitted the complaint of the referral.

Violations of Executive Order N-7-25 may be enforced by California’s Office of the Attorney General and your local District Attorney.

Amin Somani, Real Estate Developer

I had the pleasure of meeting Tatiana a few years ago and have used her on several transactions working with me as a Buyer and a Seller. I can honestly say she is one of  THE BEST agents I have ever worked with. Her attention to detail, style, marketing strategy and client service is impeccable, always giving 100% to all aspects of the process. She has also worked with me on the development side from interior design/layout to hand selecting and curating all materials and custom finishes. I have not come across another Realtor that pays so much attention to her clients needs and success, both as a Buyer and Seller. Tatiana has become a good friend whom I have full trust in. I would not hesitate to recommend Tatiana to anyone and will always refer to her as my “Super Agent”.

“A super hot market”: Economists weigh in on what to expect in 2021

The housing market will enter 2021 blazing hot with off-the-charts demand and an extreme shortage of homes for sale. While the risk of a double-dip recession hovers in the background, home sales and prices are expected to keep rising next year as coronavirus vaccines become available, the economy starts buzzing again and a new president focused on housing takes the helm. Inventory will continue to rule.

That’s according to several economists Inman reached out to for their predictions on how the housing market would fare in 2021. They weighed in on home sales and prices, inventory, the impact of a coronavirus vaccine, the incoming Biden presidency and the risk of another recession.

On home prices and sales

“We’re going to start the year in a super hot market,” said Mike Simonsen, CEO of housing market analytics firm Altos Research, in a webinar last week called “The Real Estate Market Outlook for 2021.”

Inventory has plunged to just under 469,000 single-family homes this month, down some 40 percent compared to the same time last year, according to Altos’ data.

While about 31 percent of listings have gotten price reductions at the end of the year in previous years, current price reductions only stand at 26 percent, according Simonsen. “That’s because demand has been off the charts,” he said. “[For] houses on the market now, if they take a price cut, that means the demands is a little weaker, and the price that it’s going to sell at in January or February, it’s going to be lower.

He added that prices are “going to keep falling now through February, as the fresh new inventory comes on, and then we’ll probably have a resumption of a more normal market in the second quarter of 2021.”

Danielle Hale, chief economist at realtor.com, expects home sales to continue growing, jumping 7 percent in 2021, and prices to continue rising to new highs, though at a slower pace than in 2020, increasing 5.7 percent.

“As far as seasonality goes, we expect housing to be busier in spring, like it normally is, and while fall will be strong, we don’t expect it to match 2020’s frenzied level of activity,” she told Inman via email.

Daryl Fairweather, chief economist for Redfin, also predicted a strong year for home sales in 2021, even stronger than 2020 has been. She anticipates low double-digit home sale growth, close to 10 percent.

“There a lot of people who may have wanted to move this year but were just too nervous,” she told Inman in a phone interview. “They didn’t want to lose their homes during a pandemic or they didn’t want to list during uncertain economic times. It seems like next year the economy will be in a better place than it was this year.

“With the vaccine on the horizon we may even be able to open the economy, so that will lead to a lot more economic confidence among homebuyers and more people will just be willing to enter into homeownership with the recovery, though we’ll probably also see slightly higher interest rates. Interest rates have been at record lows this year, and they will probably take off a bit in 2021. That will make homebuying slightly less affordable, so we may see slower price growth in homes, just because of higher interest rates.”

Fairweather said she thinks more people will move across the country next year as remote work becomes more normalized.

“They’re going to seek out places that are more affordable where they can have more space, and they’ll choose to live in places that meet their own personal preferences instead of just living where they can find a job,” she said.

She expects home prices to rise the most in the most affordable places in the country. “We’ve seen a lot of migration to places like Austin and Phoenix,” she said. “I think that there is this kind of spillover effect where Phoenix becomes expensive, and then people leave Phoenix for like Tucson or they leave Austin for San Antonio and prices there in turn rise.”

In a forecast released Tuesday, the Fannie Mae Economic and Strategic Group had more modest expectations, predicting a 2.8 percent rise in total home sales in 2021 after a 7.6 percent rise in 2020. The mortgage giant expects the median existing-home price to rise 4.1 percent next year, to $302,000.

“Even though near-term economic growth may be slowing, as made evident by the latest employment data, we believe the high probabilities of a successful COVID-19 vaccine distribution and additional federal stimulus will carry the economy through a relatively soft first half of 2021 before accelerating in the second half,” said Doug Duncan, Fannie Mae’s senior vice president and chief economist, in a statement.

“We also expect housing to remain strong, despite slowing from its previously torrid pace, as homebuilders catch up on current commitments and more existing homeowners list their homes to take advantage of strong price growth. We expect the mortgage market to finish 2020 at a historic level of production before slowing slightly but remaining strong in 2021.”

On inventory

The biggest factors that will drive the housing market in 2021 are the “age-old economic fundamentals of supply and demand,” Svenja Gudell, chief economist for Zillow Group, told Inman via email. That means sellers will likely continue to have the upper hand.

“The number of available homes will remain low, and demand for them will stay exceptionally high,” Gudell said. “This ongoing push/pull will ensure that home prices keep rising at an above-average pace, which will continue to cut both ways. For existing homeowners, there will be enormous opportunities to build and utilize equity, especially in a post-COVID economy in which we are very likely to see a surge in spending of all kinds.

“But for those struggling to enter the market, low mortgage interest rates offer little cover for home prices that have risen much faster than incomes over the past several years, and saving an adequate down payment won’t get any easier. I also think the traditional home shopping season will be more fluid as additional tools enable more sellers to reach more buyers, and vice versa, regardless of the time of year.”

Gudell is hopeful that a vaccine will ease seller anxieties enough to pull them off the proverbial fence.“Increased levels of new construction activity at the tail end of 2020 will carry over into at least the first few months of 2021, both of which will add some modest amount of new inventory,” she said.

“But I still expect inventory to remain relatively low. The market will continue to move quickly, but the ongoing adoption and refinement of tech tools like push notifications when homes hit the market, 3D tours and virtual closings will help consumers keep pace, shortening the home search and sale process from months, to weeks or days in many cases. This will mean continuing high velocity in the housing market and a higher number of transactions than we have seen in recent years.”

Gudell expects the rental market will “come back strongly” in a post-COVID world, when urban living regains its previous shine.

“[That’s] welcome news for struggling landlords, but little solace to younger Americans just starting out and saddled with high rent burdens,” she said. “Household formation has been historically weak for the past several years, but these millions of ‘missing’ households will continue to set out and seek homes of their own and are very likely to turn to the rental market as the traditional first step, reigniting rental demand.

“The math is unavoidable — there are millions of millennials aging into their prime homebuying years, and millions more Gen Zers behind them that all will want and need homes of their own, keeping demand at a boil for years to come.”

Redfin’s Fairweather is optimistic that 2021 be a “very strong year” for new construction, in part because low interest rates will make it cheaper to build homes and because a big pause in commercial building will mean that residential builders don’t have to compete for workers and materials. Fannie Mae predicts single-family housing starts will rise 12.8 percent to 1.1 million in 2021, from 981,000 in 2020. Still, it won’t be strong enough to overcome years of underproduction, according to Fairweather.

“I think new construction will have its best year since the last housing crash,” she said. “But … we’ve been in a decade-long slump of new construction. So one good year isn’t gonna get us out of the hole that we’re in. There will still be overall a shortage of homes. But you know, every little bit helps.”

She said the market is short about 2 million homes, so it would “take 10 years of basically doubling our production to get us even close,” she said. Realtor.com put the shortfall even higher, at nearly 4 million homes.

“I think if we really wanted to address the shortage of homes, there would have to be significant government intervention [and] subsidizing of new construction,”Fairweather added. “It’s not going to happen just from purely market-driven forces.”

Kosta Ligris, co-founder of digital mortgage platform Stavvy, anticipates that single-family homes will remain in demand in 2021.

“The comfort and perceived safety of being in a single family home with no common areas or exposure to unknown contacts and risk has never been more relevant,” he told Inman via email. “I am seeing single family homes in suburban areas do very well and expect this trend to continue well into the spring 2021 market.”

On the Biden presidency

Realtor.com’s Hale anticipates the Biden administration will likely focus its early efforts on keeping the coronavirus as contained as possible.

“Until vaccines are more widely available, this is one of the best ways to help the economy heal,” she said. “Additionally, if a deal is not reached before January, ensuring that another stimulus package is available to support individuals and businesses while economic activity continues to lag as the vaccines are being rolled out will be a top priority. Beyond that, Biden has an ambitious policy agenda, and the impact on the economy will depend on what the administration prioritizes.”

Fairweather noted that Biden has promised to invest $65 billion in building affordable homes, both rental and for-sale. “That’s a significant investment and will definitely help mitigate [home] price increases and rent increases,” she said.

But she’s not very confident that housing will be at the top of his already-packed agenda. “I’m not sure what he’s going to try to get to first, especially if he’s facing a split Congress, so we’ll see what he ends up actually prioritizing, if he puts housing at the top of the list,” she said.

Fairweather does believe that Biden’s administration will start tackling housing segregation right away, through executive orders.

“I know that he wants to reduce segregation,” she said. “He wants to fund the low-income housing tax credit program fully so that people who are low income can afford apartments in areas that are more affluent. So all that would work to reduce segregation.

“That gives people housing vouchers and they can go out and rent apartments wherever they choose. He also wants to fight discrimination against that program because some landlords don’t accept those housing vouchers. So if a low-income family could receive a voucher and could actually use it wherever they wanted to they could use it in an area with a high amount of opportunity, and that would go a long way to creating more equality across income and race.”

Biden also wants provide down-payment assistance for families to increase homeownership, but Fairweather warned that that would have to be coupled with an increased supply of affordable homes.

“Because if you just increase down-payment assistance, you’re going to have a lot more people competing for the same homes,” she said. “That will drive up prices. You have to do both at the same time for it to be successful.”

Double-dip recession?

In its 2021 forecast, realtor.com cautioned that a double-dip recession was still a possibility next year, in part because of an uneven recovery in the labor market.

“As the U.S. continues in a K-shape recovery, a gap is widening between those with and without jobs as well as industries recovering well versus those seeing continued lack of business,” the company said.

“In the short term, this could lead to less consumer spending which could more broadly impact businesses and economic growth. In the long term, this could impact the U.S. housing market as ‘would-be’ buyers disappear from the market, cooling demand and driving down home prices. The current question is how long the K-shape can diverge before the impact begins to cascade into the broader economy and other previously less-affected sectors such as housing.”

Altos’ Simonsen also said that the risk of a double-dip recession is real, particularly if the federal government fails to pass a new stimulus plan.

“If the stimulus doesn’t bail out the people who are impacted, the businesses that are impacted, that could deepen a recession,” he said. “That could very easily back off the demand and that would be a risk to the market.”

Still, he anticipates that even if demand pulls back because of a recession, that lower demand will still meet with “ultra tight inventory.” He doesn’t anticipate that foreclosures will spike because homeowners have record levels of equity in their homes, which means they will likely opt to sell, rather than let their homes go into foreclosure.

“Even if you weren’t able to make your mortgage payment this year, your home value climbed by 10 percent on average in this country, so your equity gained a ton,” he said.

“So in the spring, when we have to move out of the forbearance window, when people have to start paying their mortgage again, they are unlikely to go into foreclosure because they have a lot of equity. And because there’s so much demand, they can sell their house really quickly.”

BY ANDREA V. BRAMBILA

Courtesy of Inman

The Federal Reserve has significantly loosened monetary policy this month, putting the lower bound of its target range at 0%

Why have mortgage rates increased?
The Federal Reserve has cut rates by 150 basis points in March.
But mortgage rates have increased. Why?

In response to the unprecedented challenge of COVID-19, the Federal Reserve has significantly loosened monetary policy this month, putting the lower bound of its target range at 0%. Meanwhile, yields on Treasury securities, while volatile, have fallen as well.

But these declines haven’t translated into a decrease in mortgage rates. In fact, mortgage rates have increased this past week and, generally, are higher now than they were at the end of February. Why?

The Fed works on the short-side of the market: The Fed’s rate cuts act on the extremely short-end of the market – its target rate is for overnight loans that financial institutions make to each other. Mortgage loans, on the other hand, are priced on the basis of the longer-term side of the financial market.

Mortgage securities face pre-payment risks: Generally speaking, mortgage lending is funded by selling mortgage-backed securities (MBS) on Wall Street. Borrowers, through the mortgage banking system, get the funds to purchase a home, and investors get an asset that generates a monthly cash flow as borrowers make their monthly principal and interest payments. But borrowers can also completely pay off their mortgage early, as they do when they sell a property or refinance their existing mortgage. The pre-payment risk inherent in MBS generates an uncertainty that’s not a factor with Treasury securities. During the recent market upheaval, investors are turning to Treasury securities, driving down yields on Treasury securities. Because of the pre-payment risk and the anxiety about the economic outlook, rates on MBS need to be even higher than usual over Treasurys to continue to attract investors.

Mortgage industry capacity squeezed: The mortgage industry simply doesn’t have the capacity to handle the influx of applications coming in due to the low mortgage rates. The industry as a whole was already under stress with the low mortgage rates in January and February. Appraisers, underwriters, originators, title attorneys, processors, and others were stretched to take care of the customers in the pipeline before the end of February. An even lower mortgage rate across the industry would add fuel to the fire, negatively impacting customer service and leading to a rise in missed closing dates.

But even with all that, industry mortgage rates remain historically low.

Through all of this market churning, dreamliving|LA® is committed to helping our clients. We’re here for the long term, and we’ll be here when we emerge from the market disruption caused by the coronavirus. However we can serve you, we are here to help!

The biggest residential sale in California this year! A Record-Breaking $52 Million Bel Air Mansion

The resort-like home boasts an infinity pool, tennis courts, and plenty of outdoor space.
Courtesy of Williams & Williams Group

There are plenty of mega-mansions sitting on the market in California, but in the past year, none of them had sold for more than $35 million—until now. It was just revealed that a Saudi Arabian prince is suspected to have dropped $52.2 million on a Bel Air compound with two homes, marking California’s biggest residential deal of 2019.

So, why does this place command such a high price? Well, for starters, the fact that there are two adjoining properties on the 1.7-acre estate. The first, an ultramodern home which took four years to build, cost $45 million.

The seemingly endless stream of spec-built Los Angeles mega-mansions — several pop up for sale nearly every week — has sparked fears of a market oversupply, particularly since billionaires’ enthusiasm for residential splurges has tempered. L.A. has not seen a brand new manse sell for above $35 million in nearly a full year.

But, there are still serious buyers lurking around, ready to pounce. Only on the right property, of course.

It was the Wall Street Journal who first reported the $52.2 million sale of an eye-popping Bel Air compound. Two contiguous properties — one substantially larger than the other, but each thrilling in their own right — were purchased in two separate transactions by the same buyer, who plans to combine the 1.7-acre spread into a single cohesive estate. The acquisition ranks as California’s biggest residential deal of 2019 thus far.

The buyer has not been identified, but Variety reported that the property was sold to an entity formed by a Pasadena tax attorney known for managing the finances of some of the wealthiest members of the Al Said royal family.

Whichever Saudi prince holds the keys to the Bel Air kingdom, he now presides over an dynamically epic palace.

The larger $45 million property, the recipient of all the press glitz and glory, was built by local diamond dealer Rafael Zakaria over a four-year period. Publicly marketed as a “modern utopia,” the 20,000 sq. ft. showstopper features design by Tag Front Architects and dynamite westward views over the Century City skyline and beyond, to the ocean and Catalina Island on the horizon.

A striking blend of steel, glass, and stacked concrete blocks grace the front façade. The museum-quality interior boasts seven bedroom suites and a wine room, plus other requisite amenities: a gym, spa facilities, 12-car garage, and 20-seat movie theater.

As expected, the terraced backyard has an assortment of gardens, sprawling lawns and patios, and a full-size tennis court. But the estate’s most outrageous feature, however, is unquestionably the scythe-shaped swimming pool. That watery monster visually dwarfs the actual home and stretches a whopping 250 infinity-edged feet, meaning our prince will likely require his own full-time pool boy (or pool girl, for that matter.)

Unusually, this $45 million house is not located in swanky East Gate Bel Air, the perennially priciest part of town, but rather on a low-key cul-de-sac much further west. It’s so close to the 405 freeway, in fact, that the property technically sports a Brentwood zip code. The estate is easily the largest in the immediate vicinity and is situated atop a knoll.

As for the far smaller $7.2 million structure, it lies directly below the larger contemporary estate. Built by legendary architect Richard Neutra, the 1954 mid-century modern was originally christened the Hammerman House and remains intact, though it has been significantly “updated and expanded,” per the listing. The Neutra home was sold by Kathy Mendoza, the ex-wife of tech-focused businessman Tom Mendoza, and will reportedly be used as accommodations for the prince’s household staff.

Source: Variety, Business Insider

Amazon’s Jeff Bezos pays $80M at 212 Fifth Ave, NY

Amazon CEO Jeff Bezos and 212 Fifth Avenue (Credit: Getty Images)

Amazon may have scrapped plans for a campus in New York City, but CEO Jeff Bezos is still very, very bullish on Manhattan

The e-commerce chief is paying nearly $80 million for a three-unit spread at 212 Fifth Avenue, sources told the Wall Street Journal, in the priciest deal to date below 42nd Street.

Bezos’ purchase reportedly includes the building’s top penthouse — once asking $74 million. The unit was last priced at $58 million, following several price cuts. The two units a floor below sold for $28.45 million to an entity called Madison Square Park LLC, records show. But the exact price of the total deal wasn’t clear because the penthouse purchase hasn’t hit records yet.

If combined into a single-family home, it will span 17,000 square feet with 12 bedrooms.

Source: The Real Deal

Vanessa Raderman, Director Greenleaf Mindful Montessori

Selling a family home can be an incredibly emotional process. When I called Tatiana to represent my family she took it on with utmost professionalism while making it really personal. She was sensitive to our needs and went above and beyond to come up with a meticulous strategy and beautiful vision that assured us that we were in the right hands. With her marketing strategy she was able to take a home that was filled with over 20 years of memories and turn it into a fresh palette that was both elegant and practical. The house had already been on the market for a year with another Realtor. Tatiana was able to re-invent the home altogether, priced it to sell, launched an impressive campaign and procured the right Buyer. She took the time to always keep us informed of all the movement with detailed reports and comprehensive explanations of the process. The final transitions where flawless and she left no stone unturned. Tatiana is not only a superstar Realtor®, she is a real estate visionary.

Modern Luxury recognizes Tatiana in “Power Players of Los Angeles”

Tatiana Derovanessian is a real estate powerhouse and media maven routinely among the Top Producers in Los Angeles. Her meteoric rise has caught the attention within the industry and media at large, with features in various media publications and TV shows. Today, as CEO of dreamliving|LA® her prowess as an Elite Realtor® and impeccable standards for business are a trademark of her success.

“9 Questions With People You Should Know” series features Tatiana Derovanessian of dreamliving|LA®

She has done an amazing job at using those attributes toward her current project as owner of dreamlivingLA real estate. Her company is a full-service luxury real estate firm and lifestyle brand committed to helping every one of its clients fulfill their dream lifestyle. Her success in the real estate space most recently was featured in Variety Magazine’s Emmy Preview Issue. With all of this experience, I wanted her to share answers to my 9 questions so you can know a little more about her.

A Bespoke Architectural Compound in Beverly Hills – Exclusive Off Market Development

Perched on a promontory on famed Mulholland Drive in the renowned celebrity enclave of Beverly Hills, this stunning modern estate overlooks breathtaking views. Surrounded by nature this approximately 10,200+/- sq ft designed residence centers on a three story atrium adorned with glass, expansive indoor outdoor connections, incredible infinity pool overlooking city views, a private gated entry, capacious day lit basement level, 1,300 sq ft of garage space – spread over 37,000+ sq ft lot.

Development is shovel ready with full set of stamped plans, city permits, haul routes and Mulholland Corridor approvals. Offered at $4,500,000.

Prospective buyers must register and provide proof of funds for further information and review. Contact Tatiana at 310.432.6507.

Translate
Tatiana Tatiana Derovanessian PRESIDENT | REALTOR®
Phone(310) 432-6507