European appeal, designer shops, and outstanding transportation systems. Is it time to pack up the family and move to Beverly?
"After the busy summer, the Los Angeles real estate market tends to start to slow down in the month of September," says Realtor Anthony Vulin. "Now is definitely the time to do it. There are less and less sales as the year goes on. Put it on the market while interest rates are low and buyers are active. If you price your home right, you should still be able to sell it in less then one month. If it's priced really well and it's located in a great area, you may still be able to get multiple offers on your property and start a bidding war. I highly doubt this will be possible later in the year. If you are thinking about buying soon, find a realtor and start looking now. Inventory is low and there is not a lot to pick from. When you see a home you really love, don't be afraid to make an offer on it, even if it's the first home you see. It could take several months before you find a home you really love."
Realtor Michael Weilbacher says, "Prices are still rising and many homes are experiencing multiple offers. This is due in large part to a continued lack of inventory, low interest rates and of course the numerous buyers clamoring to buy anything at any price. Will this price, sellers market, trend continue and for how long?"
Realtor Birthe Dooman notes that "Beverly Hills has 33,000 residents, yet its daytime population is often around 200,000. A safe place to live, it is also a cosmopolitan center attracting visitors from points around the globe who come to the chic and exclusive boutiques along Rodeo Drive & Via Rodeo. This area has a European appeal and the same designer shops seen in many European capitals."
She continues, "Both inventory and prices are high in Beverly Hills where many large mansions are on the market for a long time -- unlike other areas on the Westside where properties are listed at comparable market prices. The City of Beverly Hills remains a popular place to visit if seeking luxury and exceptional living as it offers the very best in hotels, shopping, dining, hospitals and public services. Its public Library and Civic Center are outstanding and, so too, are the public parking and transportation systems. And the city of Beverly Hills has completed an overhaul consisting of widened sidewalks and added new palm trees, street lights and crosswalks on Rodeo Drive."
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Published: September 28, 2005
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