CELEBRATING THE YEAR 2011: EVENTS, NEWS AND REAL ESTATE FROM BEVERLY HILLS

As we look back at the past year and forward to 2012, I want to thank my family, friends and valued clientele for their support this past year! Thank you for your continued trust and confidence in my personal and professional efforts. I am very proud of my real estate accomplishments this year and specialized focus that has built an incredible group of relationships and network of referrals for which I am truly grateful.

This year has been a year of highs and lows in the marketplace but 2012 already appears promising and I look forward to a far more positive outlook in the financial and real estate sectors!

Early 2012 is the time to start considering your next purchase or sale. I am prepared to guide you through the process and look forward to assisting you in planning and successfully bringing your goals to fruition.

May your 2012 bring you many blessings and joy!

Here is a look back at some of the highlights of 2011

   

CHRISTMAS AT MCCLANEY ESTATE

AN EVENING WITH THE JOFFREY BALLET'S PERFORMANCE OF "THE NUTCRACKER" AT THE DOROTHY CHANDLER PAVILION IN DECEMBER 2011

Held on September 17, 2011, the Los Angeles Opera House's "White Night" Celebration opened the season in style.

A lovely pre-performance dinner, a very creative offering of champagne and the performance of "Eugene Onegin" made it a beautiful evening. I was honored to attend the evening hosted by Placido Domingo and Actress Emmy Rossum.

AT THE LOS ANGELES OPERA'S OPENING "WHITE NIGHT" CELEBRATION

THE OPENING OF "BLUES FROM AN ALABAMA SKY" AT THE PASADENA PLAYHOUSE


Celebrating the 68th Anniversary of the Independence of the Republic of Lebanon in Los Angeles

Glenda Wina, our hostess the Consul General of Lebanon, Mrs Madonna Aoun Ghazal and I celebrated the 68th Anniversary of the Independence of the Republic of Lebanon in Los Angeles

On Sunday, November 20, 2011, it was my great privilege to take part in the 68th Anniversary of the Independence of the Republic of Lebanon in Los Angeles. It was a wonderful event arranged by the consul general of Lebanon, Mrs Madonna Aoun Ghazal.

COLDWELL BANKER BEVERLY HILLS NORTH IS RANKED #1 OFFICE THROUGH OCTOBER OF 2011

Coldwell Banker Beverly Hills North is yet again ranked #1 among Coldwell Banker's offices through October of 2011! It is an honor to be among the real estate professionals associated with the success of this office and its prestigious ranking!

Florence Mattar

Coldwell Banker Beverly Hills North

301 North Canon Drive, Suite E

Beverly Hills, California 90210

310.927.2777

The Nation’s Top-Producing Office

Beverly Hills North is a proud member of America's oldest and most prestigious residential real estate organization and has the distinction of being the most successful branch office of Coldwell Banker's 100-year-old corporation.

HOLMBY HILLS BEST REAL ESTATE OPPORTUNITY

Holmby Hills

LA VILLA CONSOLATA

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Over 27,800 square feet of the utmost quality and luxury on over an acre. Enormous impressive domed entry, several sitting rooms, formal dining room, one of a kind gourmet kitchen, breakfast room, many fireplaces, high ceilings throughout, patios overlooking gardens and views. Indoor and Outdoor pools, gym, massage room, game room, two level library. Underground disco and guard house.

Located in the Holmby Hills area which is a prime location, 5 minutes from Rodeo Drive in Beverly Hills.

Status: Active
Property Type: Residential
Year Built: 1993
Bedrooms: 6
Baths: 13.5
Living Area 27,816. Sq. ft.
Lot Size: 51,400. Acres

Spelling, widow of legendary TV producer Aaron Spelling, put the 4.7-acre Holmby Hills residence up for sale years ago at $150 million. The Manor sold in the Summer of 2011 for a reported $85 million.

SOLD! 1920'S AUTHENTIC SPANISH HOME IN LARCHMONT VILLAGE!

Three Bedrooms

Two Baths

2,012 Square Feet

108 South Larchmont

$908,000

Legendary boxer Jack Dempsey was one of the great figures in the "Golden Age of Sports", the 1920's. He lovingly purchased this charming Spanish home for his mother.

Ideally located in one of the most historically significant neighborhoods, Larchmont Village, a picturesque haven of sidewalk cafes and shops, this one-story character-rich charmer awaits a loving touch.

Living Large: Trulia’s Most Massive Estates for 2011

Have Americans completely renounced their love for McMansions?

Well, if you were to do a national consumer survey (which we did), only 6% of Americans would actually say that their ideal home size is bigger than 3,200 sqft. Given this, you would expect smaller homes to be more popular than bigger homes on Trulia.com - surprisingly, this wasn’t the case. Super-sized homes actually got 27% of all the eyeballs looking for homes on Trulia (more than any other sized home). Say what?!? That’s right - U.S. house hunters still love to look at ginormous real estate eye-candy.

Knowing this, we decided to close out the year with a little belated holiday gift. Below we’ve compiled a list of the most colossal estates for sale based on square footage. For most of you, this will be eye candy, but for the head honcho buyers among you, here are few homes to consider if you want to live large in 2012. *wink, wink, nudge, nudge*

30,000 square feet – Beverly Hills, CA. (above)

Price: $63 Million

Bedrooms: 10

Bathrooms: 13 full, 9 partial

Lot: 19.75 acres

Lavish layout includes: 9 fireplaces, an elevator, a motor court to fit 27 cars, game room, wine cellar and separate staff quarters offering 3 bedrooms and full kitchen, etc.

See more pictures of this massive estate.

See more homes for sale in Beverly Hills, CA.

2. 30,000 square feet – Alpine, NJ. (above)

Price: $56 Million

Bedrooms: 12

Bathrooms: 15 full, 4 partial

Lot: 261,360 square feet

Lavish layout includes: smart phone capabilities enabling remote operating from an iPhone, in-home fitness center, pool house with full kitchen and two baths, 65 foot pool and tennis court, 6 garages, indoor basketball court, etc.

See more pictures of this massive estate.

See more homes for sale in Alpine, NJ.

3. 30,000 square feet – Indian Creek Village, FL. (above)

Price: $60 Million

Bedrooms: 10

Bathrooms: 10 full, 4 partial

Lot: 1.84 acres

Lavish layout includes: ocean access, certified green house, rooftop lawn and Jacuzzi, panic room, chromo therapy spa and massage room, elevator, etc.

See more photos of this massive estate.

See more homes for sale in Indian Creek, FL.

4. 30,000 square feet – Barrington, IL. (above)

Price: $8.9 Million

Bedrooms: 8

Bathrooms: 8 full, 4 partial

Lot: 70 acres

Lavish layout includes: fish stocked lake, pond with waterfall, 2 golf holes, full size gym, arcade, English pub, etc.

See more photos of this massive estate.

See more homes for sale in Barrington, IL.

5. 28,893 square feet – Tampa, FL. (above)

Price: $14.9 Million

Bedrooms: 10

Bathrooms: 10 full, 3 partial

Lot: 5.9 acres

Lavish layout includes: 17^th century British royal palace architecture and design, formal ballroom, 14 fireplaces, elevator, wine cellar, private basketball court, etc.

See more photos of this massive estate.

See more homes for sale in Tampa, FL.

6. 28,469 square feet – Post Falls, ID. (above)

Price: $15,995,000

Bedrooms: 13

Bathrooms: 13

Lot: 2 acres

Lavish layout includes: river views, guest house, cabana, inground pool, etc.

See more photos of this massive estate.

See more homes for sale in Post Falls, ID.

7. 27,816 square feet – Los Angeles, CA (above)

Price: $27.5 Million

Bedrooms: 6

Bathrooms: 7

Lot: 1.15 acres

Lavish layout includes: multiple fireplaces, indoor and outdoor pools and gym, massage room, game room, etc.

See more photos of this massive estate.

See more homes for sale in Los Angeles, CA.

8. 27,355 sqft – Palm Beach, FL (above)

Price: $74 Million

Bedrooms: 9

Bathrooms: 17

Lot: 2.5 acres

Lavish layout includes: waterfront location, sculptured gardens and fountains, guest house, French inspired design and décor, etc.

See more photos of this massive estate.

See more homes for sale in Palm Beach, FL.

9. 27,163 square feet – Beverly Hills, CA (above)

Price: $55 Million

Bedrooms: 8

Bathrooms: 12 full, 1 partial

Lot: 2.11 acres

Lavish layout includes: 400 foot long winding cobblestone driveway, motor court accommodating 25 cars, etc.

See more photos of this massive estate.

See more homes for sale in Beverly Hills, CA.

10. 26,415 square feet – Greenwich, CT

Price: $25 Million

Bedrooms: 8

Bathrooms: 10 full, 8 partial

Lot: 8.79 acres

Lavish layout includes: 42-foot indoor pool, indoor basketball court, dog washing facility, steam showers, playroom, home theater, wine cellar, etc.

America's Biggest Mansions for Sale

By Morgan Brennan, Forbes.com

December 23, 2011

Since World War II, America’s homes have gotten bigger. In 2010 the average size of a newly completed single-family home was 2,392 square feet, according to the U.S. Census Bureau. That’s roughly 45% larger than the homes built in 1973, and roughly double the size of homes built during the 1950s.

As middle class Americans have steadily upsized their digs over the years, so too have the country’s richest. Starting in the 1990s, billionaires like Ira Rennert, John Kluge and Michael Dell began erecting monster mansions encompassing tens of thousands of square feet. Even in the recent economic downturn, as millions of homeowners have struggled with the burden of underwater homes, the world’s richest have been buying some of the biggest abodes in the country.

Slideshow: America's Biggest Mansions for Sale

Turns out there are many more still up for grabs. The folks at Trulia.com, a San Francisco, Calif.-based real estate listing site, helped us whip up a list of the 15 biggest single-family homes currently listed publicly on the market. Every home we included in our roundup peddles a staggering 25,000 square feet of living space or more. All of them boast outrageous amenities and an assortment of specialty rooms you might not have thought could even exist in a private residence.

Some of the market’s most gargantuan homes were actually built by real estate developers on speculation. Spotting a niche market comprised of billionaire and multimillionaire home buyers, these builders secured tens of millions of dollars in funding — in most cases before the economic downturn — and set to work on dream designs they have hoped would snag moneyed real estate aficionados.

One such property is a $60 million vacation home in Indian Creek Village, Fla. Built by Shlomi Alexander of Bal Bay Development, the manse boasts 30,000-square feet of living space including a chromotherapy spa, a recording studio, a panic room and a 7-limo garage. “He didn’t want it to feel like a house, he wanted it to feel like a 30,000-square foot contemporary resort,” explains Oren Alexander, the property’s Prudential Douglas Elliman Real Estate co-listing agent, and the developer’s son. The Miami-area “resort” has been on the market since 2010.

The priciest property in tony Alpine, NJ, America’s most expensive zip code, is another example of developer dreams. The Stone Mansion at Frick Estate listed in 2010 for $68 million, before price chopping to $52 million earlier this year and then price-hiking back up to $56 million, where it currently stands today. The 30,000-square foot, four-level construction behemoth took more than three years to build with a 60-person crew. It touts 12 bedrooms, 19 bathrooms, a ballroom with coat check closet, and an indoor basketball court equipped with locker rooms and scoreboard.

Richard Kurtz, chief executive of Kamson Corp., originally planned to build the home for himself and his wife. But in a video interview with Forbes, he explained that as he added more amenities to the design the size became too large for his purposes. “It’s just too big for us. We would have to use cell phones just to find each other!” he jokingly had remarked.

Here are America's five biggest mansions for sale - all of them at least 25,000-square-feet in size:

No. 5 - Palm Beach, FL
List Price: $74 Million1120 S. Ocean Blvd.
Home Size: 27, 355 sq. ft. 

No. 5 in Palm Beach, FL is the most expensive manse on the list. Photo: Zillow

 This 'Billionaire's Row' spec home has parking capacity for 50 cars and gardens designed for sculpture displays. The master bedroom suite is significantly larger than most people’s whole houses, encompassing 4,000-square feet of his-and-her baths, closets, dressing areas, even libraries.
No. 4 - Los Angeles, CA
List Price: $27.5 Million330 S. Mapleton Dr.
Home Size: 27,816 sq. ft. 

No. 4 is a $27.5 million manse in the Holmby Hills part of Los Angeles, CA. Photo: Trulia.com

 This Holmby Hills estate boasts a two-story library, indoor and outdoor pools, a gym, a massage room, even an underground nightclub.
No. 3 - Alpine, NJ
List Price: $56 Million
Home Size: 30,000 sq. ft.   

The four-level home took more than three years to build with a 60-person crew. It touts 12 bedrooms, 19 bathrooms, a ballroom with coat check closet, and an indoor basketball court equipped with locker rooms and scoreboard.
No. 2 - Indian Creek Village, FL
List Price: $60 Million3 Indian Creek Dr.
Home Size: 30,000 sq. ft. 

No. 2 is a $60 manse in Indian Creek Village, FL. Photo: Zillow

 Built by Shlomi Alexander of Bal Bay Development, the manse boasts 30,000-square feet of living space including a chromotherapy spa, a recording studio, a panic room and a 7-limo garage.
No. 1 - Beverly Hills, CA
List Price: $63 Million
Home Size: 30,000 sq. ft. 

No. 1 is $68 million in Beverly Hills, CA. Photo: Trulia.com

 The 20-acre Beverly Hills compound includes seven bedrooms, 18 bathrooms, a media screening and projection room and a 17-car garage. There’s also an elevator to get you from one floor to another more effortlessly.Click here to see more of America's Biggest Mansions for Sale.  

Florence Mattar

 Coldwell Banker Beverly Hills North
 301 North Canon Drive, Suite E
 Beverly Hills, California 90210
 310.927.2777

More parents helping kids buy homes

NEW YORK (CNNMoney) -- Hey, baby boomers! Pondering what gift to get your kid who's all grown up? For many of your peers, the answer is a house.

One in five baby boomer couples have already given at least one of their children the means to purchase a home -- either buying it outright, furnishing the down payment or co-signing the loan,
And more than two-thirds (68%) of respondents said they expect to provide financial support to their children or grandchildren in the future to help them afford homeownership.

Many real estate agents around the country have observed this trend gain steam since the housing bust began.

"Parents want to see their kids in a stable living situation," said Chayah Masters, a Coldwell Banker Residential agent in Los Angeles. "Plus, property values have come way down. Why not help the kids while they are so low?"

The typical U.S. home now costs about the same as it did back in 2003. In some markets, like Phoenix, Orlando and Las Vegas, prices haven't been this reasonable since the late 1990s. And low interest rates make homebuying an even more affordable investment.

In New York City, according to real estate agent Chazz Levi, many foreign nationals are buying apartments for kids going to college in town.

"I think it's a smart thing to do right now," she said.

 

Why kids need help

 

Some of the kids have good jobs and enough income to afford a home on their own except for one thing: too little cash.

Cash is king right now. Cash buyers get the best deals on homes like bank-owned foreclosed properties or short sales. Even ordinary sellers prefer it because sales are more likely to go through and close quickly.

Buyers also need a nice bundle to fund 20% down payments so they can get favorable mortgages. For a median priced home -- about $160,000 right now -- that comes to $32,000 up front. Many young people just don't have that much saved.

One such buyer was a client of Brooklyn-based real estate agent Nick Ferrone. The buyer got a $175,000 cash infusion from his folks. That covered his down payment and enabled him to land a bargain interest rate of just over 4%.

Many young people in this hardscrabble economy also face trouble getting a mortgage approved because they have the wrong kind of income.

They cobble together earnings from freelance and part-time jobs but those income sources may be too unpredictable for lenders. Underwriters prefer steady paychecks from employers.

Pitfalls

 

While it can be a good thing for all involved when parents help their kids get homes, it can also get complicated.

The first question parents should consider is how much help they can realistically provide, said Ted Beck, CEO of the National Endowment for Financial Education, a Denver, Colo.-based nonprofit.
"Sit down and figure out what you can really afford to do," he said. "You should never put your own budget or your retirement plans at risk."

Just as important is determining just what the child can afford once mom and dad set them on the path to homeownership. If the parents just want to help with a down payment or co-sign the loan, will the kids be able to afford the monthly bills?

Follow the old rule of thumb that the child's housing costs should not exceed 28% of gross income, said Beck. When other debt like students loans are factored in, the total shouldn't exceed 36% of their income.

Also keep in mind that there are many additional costs new homeowners have to expect. Sooner or later roofs have to be replaced, plumbing repaired and heating systems updated.

0:00 / 2:08 How to buy your dream home by age 25

Another all-too-common pitfall, according to Beck, is a misunderstanding about the form the help takes. He said it's common, for instance, for parents to look on their contributions as loans but the kids to believe they are gifts.

He advised making sure all the arrangements are made crystal clear to everyone from the onset. If it is a loan, put it in writing. Otherwise, Thanksgiving dinners can get pretty uncomfortable.

Beck said that confronting the issue head-on from the beginning can be a positive thing for both parents and kids. Outlining their responsililties and obligations doesn't have to be a chore.

"This can be a good time to sit down with the kids and have an adult conversation about money," he said.

NAR: First-time buyers make up smaller share of market

Demographics shift to older, wealthier buyers

By Inman News

The share of first-time homebuyers dropped to less than 4 in 10 of all home sales from July 2010 through June 2011, after hitting a record high of 50 percent the year before, according to an annual National Association of Realtors survey of buyers and sellers.

The share of first-timer buyers, 37 percent, is the lowest rate since 2006 at the height of the housing boom. The South and Midwest had the smallest share of first-timers, 34 percent, while the Northeast had the biggest share, 43 percent. The West had a share of 42 percent in the 2011 report.

HOLMBY HILLS BEST REAL ESTATE OPPORTUNITY

 

Holmby Hills

LA VILLA CONSOLATA

Neighboring the beautiful Los Angeles Country Club and a few doors away from Candy Spelling's former sprawling mansion in Holmby Hills that just recently sold for $85 Million is one of the most elegant spectacular estates ever built in Los Angeles.

Over 27,800 square feet of the utmost quality and luxury on over an acre. Enormous impressive domed entry, several sitting rooms, formal dining room, one of a kind gourmet kitchen, breakfast room, many fireplaces, high ceilings throughout, patios overlooking gardens and views. Indoor and Outdoor pools, gym, massage room, game room, two level library. Underground disco and guard house.

Located in the Holmby Hills area which is a prime location, 5 minutes from Rodeo Drive in Beverly Hills.

Status: Active
Property Type: Residential
Year Built: 1993
Bedrooms: 6
Baths: 13.5
Living Area 27,816. Sq. ft.
Lot Size: 51,400. Acres

PHOTO/VIDEO TOUR

Spelling, widow of legendary TV producer Aaron Spelling, put the 4.7-acre Holmby Hills residence up for sale years ago at $150 million. The Manor sold in the Summer of 2011 for a reported $85 million.

Florence Mattar

Coldwell Banker Beverly Hills North

301 North Canon Drive, Suite E

Beverly Hills, California 90210

310.927.2777

Last-Minute Gift Ideas for Savvy Shoppers

via U.S. News and World Report
December 19, 2011  

Last-minute purchases might tend to cost more, but that doesn’t stop procrastinators: Four in 10 shoppers make purchases in the last three days before Christmas, according to a recent PriceGrabber survey. The good news for stragglers is that good deals are still available. Not only are retailers offering last-minute discounts, but some of the best gifts require no shipping at all. Here are eight ideas to help you cross off the rest of your shopping list:



1. The basic Kindle: Amazon’s new Kindle Fire might have grabbed the limelight this year—and justifiably so, as the first tablet under $200—but the basic Kindle, now starting at $79, also makes a great gift. Just be sure the recipient has access to Wi-Fi, because the least-expensive Kindle requires it for downloading. Also, e-books make great related gifts.


2. Cooking apps: Giving apps is easy and immediate, and some of the new, top-notch cooking apps will also help the recipient save money on food in the new year. Mark Bittman’s How to Cook Everything (or the vegetarian version) both cost $4.99, and they are very easy to use. The new Food52 app, available for $4.99, is also beautiful and useful—perfect for the budding cook.


3. Amazon’s daily deals: Amazon features deeply discounted items every day, from electronics to jewelry. The daily deals can provide inspiration for those still looking for gift ideas, even if shoppers end up purchasing them elsewhere. Recent highlights include cameras, watches, and magazine subscriptions.


4. RedEnvelope.com gift suggestions: Even if you don’t purchase from the site itself, RedEnvelope.com offers personalized gift suggestions that are surprisingly original, from a beer holster for the man in your life to customized jewelry for moms. If you discover an idea you like, try some quick comparison shopping online before making the final purchase.


5. Savings Spree app: Susan Beacham, creator of the Money Savvy Pig, which helps kids learn about personal finance by helping them divide their money into savings, spending, donating, and investing, recently released a new app for children ages seven and up. The $2.99 app encourages kids to learn how to save through a fun game.


6. Charitable gifts: The World Vision gift catalogue makes it easy to find a creative donation to make in someone's name, from $30 for five ducks for a family to start a duck farm, to $500 for a dairy cow to help feed a family in a developing country. Family fish kits start at $40 and job training for women starts at $25. You can also sponsor a child for $35 a month.


7. Herb garden: This gift, which starts at around $20, works even for people without a backyard, because they can care for it inside. More hands-on givers can create the garden from seedlings and present the final product. If you’re giving it to a crafty person, you can provide all of the supplies and let them do the dirty work. Again, you’ll be helping them save money throughout the year, since fresh herbs are expensive.


8. Daily deal sites: Groupon and LivingSocial continue to host daily deals throughout the holiday season. In fact, PriceGrabber’s survey found that 27 percent of shoppers will use the daily deal sites for last-minute purchases.