Month: February 2017

Real Estate Tips on Buying a Luxury Home

There is no doubt that the real estate market is one that provides a lot of potential and this is something that is becoming increasingly evident in the luxury homes niche. In recent times across the US, the buying and selling of luxury homes has propelled to the point where records are being made.

In California for example, year 2016 saw homes going for prices above the $2 million mark and this was a good sign that the state was well on its way to recovering from the foreclosure crisis of previous years. As a result of this recent turn of good fortune, it is best to arm yourself with enough information on how to go about buying a luxury home.

Buying a luxury home differs from the normal transaction and processes that occur when acquiring commercial properties. This is so because when looking for a home 90% of buyers use the internet as a source while a good 43% of these individuals actually go ahead to make purchase based on the information gotten online.

Unfortunately, this is not a luxury afforded for luxury home purchases as the internet cannot be relied upon to providing valid information and this s a disadvantage for luxury homebuyers. Most times, the high-end properties also do not make their way to the MLS or search engines because the sellers prefer to protect their privacy.

The following are the options available when buying a luxury home:

Find a Qualified Luxury Real Estate Agent

Your best bet when trying to purchase a luxury home would be to get a real estate agent who has carved a name for him or herself in this niche. The luxury home agent should be one that is well versed with the market, has connections and knows the right properties that are on sale. This helps you shift the burden of researching to the real estate agent. Beverly Hills real estate agents are countless, however, there are a select few who know what they are doing. Thus it is imperative that you do your research on them.

The agent who is well versed with the ins and outs of the market is most likely to have information to properties that do not appear on the MLS listings, not on the open market and on search engines. Valuation of the market value of the luxury property is also something that the luxury real estate agent should be able to carry out using different methods so that you can attain a budget for it.

Financing

Financing is something that is not easily acquired in luxury home purchases as it can take a period of 1 to 2 months to acquire a loan even if your credit rating is pretty good.

The length of time it takes to acquire a loan can affect your chances of acquiring the property seeing as the seller of the luxury home would only be interested in individuals who can pay up when he or she requests so. It is advised that when engaging in luxury home buying you get a mortgage broker, personal banker or loan officer get your papers in order and attain approval on your loan request before starting the process of purchase.

 

 

Los Angeles Best Neighborhoods for a Luxurious Early Retirement

Early retirement is the newest trend amongst successful entrepreneurs. It doesn’t necessarily mean you will retire for good, but it is defined as a short break from the “real world.” Most successful entrepreneurs build a great big business and then have the ability to live a more carefree life. Below are the top destinations for successful “early” retirees!

Bel Air, Los Angeles

Although the Bel Air neighborhood is considered to be one of the most expensive regions in Los Angeles, it still does not change the fact that when it comes to a sedate life filled with all the social amenities and in luxurious surroundings, this is the best place for a retiree to settle in. Famous for its seclusion within the mountains of Los Angeles, this would be a perfect place for senior citizens to live out their golden years while partaking in social and outdoor activities like hiking, biking, golfing etc.

Manhattan Beach, Los Angeles

The Manhattan Beach has two favorable locations for individuals looking for the perfect retirement neighborhood. They are:

–       Hill Section: this neighborhood has a lot to offer retirees from the best view of the ocean within the Los Angeles area, access to outdoor and beach sports like surfing, parasailing and an entertaining nightlife to make you feel young again. The houses here are looked atop sprawling hills making for a good overview of the environs beneath and around it.

–       Sand Section: the sand section is the sister of the hill section of the Manhattan Beach. Here, the houses are located close to the beach instead of atop sprawling hills. This neighborhood is notable for its beautiful and desirable oceanfront homes alongside splendid pathways beside the beach. Retirees can spend countless days outside in the sun.

 

Pacific Palisades, Los Angeles

This area has dominated in the sales volume for the past 3 years now with a good 30% of the sales coming from those of retirement age. The neighborhood happens to be located close to the Manhattan Beach off north. It is a good place to live among friends and family members while enjoying nature to the fullest. For retirees looking tostill remain close to family members yet still have the space to do their own things, this is the perfect spot.

Malibu

According to statistics, the third most known place after Beverly Hills and Bel Air is the neighborhood of Malibu. This is also one of the many locations in this articles that boasts of proximity to the ocean but an added plus is also the view of the mountains. For those of retirement age still looking to remain active and in shape, this area is a good place to achieve that as there are a lot of things to do from mountain biking, hiking, camping, sailing etc.

The Fairfax District

The Fairfax district is a bustling local that has a wide range of features to offer from the farmer’s market, plentiful restaurants that provide easy dining services, entertainment complexes and active social life; this is definitely a place worth considering as a retirement location. The individuals that reside here are from the 30s upward and it also helps that the neighborhood is situated a the central part of the Los Angeles area making it to access all parts of the region.