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10645 Wilshire Blvd | Wilshire Westwood Terrace

Wilshire Westwood Terrace
10645 Wilshire Blvd
Los Angeles CA 90024

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REAL ESTATE

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How much are the Wilshire Westwood Terrace Condos HOA Dues?
What do the HOA dues at the Wilshire Westwood Terrace Cover?
What does the Homeowner have to pay for?
Are there any special Assessments?
What is the Pet Policy at the Wilshire Westwood Terrace?
What is the Rental Policy at the Wilshire Westwood Terrace?
EQ Insurance?
CCRs?
Are there any Special Move in Instructions?
Can you have a BBQ on the Balcony?
Who is the Property Management Company?
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10550 Wilshire Blvd | Wilshire Thayer

Wilshire Thayer
10550 Wilshire Blvd
Los Angeles, CA 90024

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REAL ESTATE

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HOME OWNERS ASSOCIATION

How much are the Wilshire Thayer Condos HOA Dues?
What do the HOA dues at the Wilshire Thayer Cover?
What does the Homeowner have to pay for?
Are there any special Assessments?
What is the Pet Policy at the Wilshire Thayer?
What is the Rental Policy at the Wilshire Thayer?
EQ Insurance?
CCRs?
Are there any Special Move in Instructions?
Can you have a BBQ on the Balcony?
Who is the Property Management Company?
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10751 Wilshire Blvd | Wilshire Selby West

Wilshire Selby West
10751 Wilshire Blvd
Los Angeles, CA 90024

STREET VIEW

REAL ESTATE

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FLOOR PLANS

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KITCHEN

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AMENITIES

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LOBBY

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PARKING AND LAUNDRY

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HOME OWNERS ASSOCIATION

How much are the Wilshire Selby West HOA Dues?
What do the HOA dues at the Wilshire Selby West Cover?
What does the Homeowner have to pay for?
Are there any special Assessments?
What is the Pet Policy at the Wilshire Selby West?
What is the Rental Policy at the Wilshire Selby West?
EQ Insurance?
CCRs?
Are there any Special Move in Instructions?
Can you have a BBQ on the Balcony?
Who is the Property Management Company?
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Should I Waive My Appraisal Contingency?


Should I Waive my Appraisal Contingency?

In competitive real estate markets where multiple offers are common and properties are selling for more than their asking price- sellers may sometimes ask buyers to remove their appraisal contingency before opening escrow in a multiple offer counter offer. 

This is asking a lot of a buyer, as the appraisal contingency is one of 3 contingencies the buyer gets and removing it before the appraisal is done can expose the buyer to some risk. This tough seller term only shows up in the most competitive multiple offers situations, with at least 5 offers or more. 

Why do sellers want to remove the appraisal contingency? 

The fewer contingencies (or no contingencies) and the shorter the contingency length the better the sale terms are for sellers so if they can improve the terms of the sale by eliminating or shortening contingencies they have an interest in doing that. For the appraisal contingency, if the price of a property gets bid up higher than the market value of the property, the seller would like to know that they will get the price they are offered even if the property is unlikely to appraise. 

This term can be a real gut check for buyers because it asks them the question- if the property doesn’t appraise for their offer price – are you willing to pay the difference in order to buy the property?

As part of your offer homework, you should have already reviewed the comps before writing an offer so you should have a good idea of the range that an appraisal will come in at. 

In hot markets, values can rise faster than appraisals can keep up with. Appraisers look at comparable sales from the past six months so they are looking backward into the past. In their appraisal reports, they will note the market direction, whether the market is increasing, in balance, or declining. However they have to find at least 3 or 4 comps to support value and if the market is racing to new highs, there may not be able to find any comps to justify a high price that won multiple offers. 

What are the risks for buyers of waiving my Appraisal Contingency?

The only time waiving your appraisal contingency becomes a problem is if the property appraisers for less than your offer price. If the property appraises low in a normal escrow with an appraisal contingency, you could either cancel the escrow or request the seller to lower the price. Most buyers I know don’t want to pay more than what their bank says the property is worth. What happens a lot is the buyer and seller renegotiate the price similar to a request for repairs. 

With no appraisal contingency, there is no price renegotiation for that reason. Confronted with a low appraisal, buyers can make a request to the appraiser for a reconsideration of value and attempt to get the appraisal value up. Sometimes real estate agents will try to do this to save a deal that might otherwise be lost. I have had some success in the past in getting appraisals up but not significant amounts. Most appraisers do hundreds of appraisals each year so they have got their job down to a science. They are still human and do make mistakes. I have found it best to approach them in their own terms and try to find ways to support a higher value while following their appraisal guidelines. If you can get the appraisal up higher that will bridge the gap.

If the appraisal is short, that is all the bank is willing to lend. Any difference beyond that has to be made up by adding cash to closing costs. 

Let me show a quick made-up example: let’s suppose property was listed for $500,000 got 4 offers and was bid up to $550,000. The winning bidder is a 20% down buyer. The appraisal comes back at $515,000. In this scenario, the buyer would be putting down $110,000, however since the property didn’t appraise that will change the downpayment amount. 20% of $515,000 is $103,000 plus $35,000 shortfall means the downpayment just went up to $138,000 to keep 20% down loan terms. If the buyer didn’t have the extra cash they could opt for a different loan, maybe 10% down or 15% down instead. 

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10375 Wilshire Blvd | Wilshire Terrace

Wilshire Terrace
10375 Wilshire Blvd
Los Angeles, CA 90024

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REAL ESTATE

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FLOOR PLANS

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AMENITIES

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LOBBY

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PARKING AND LAUNDRY

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HOME OWNERS ASSOCIATION

How much are the Wilshire Terrace Condos HOA Dues?
What do the HOA dues at the Wilshire Terrace Cover?
What does the Homeowner have to pay for?
Are there any special Assessments?
What is the Pet Policy at the Wilshire Terrace?
What is the Rental Policy at the Wilshire Terrace?
EQ Insurance?
CCRs?
Are there any Special Move in Instructions?
Can you have a BBQ on the Balcony?
Who is the Property Management Company?
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10747 Wilshire Blvd | Wilshire Selby East

Wilshire Selby East
10747 Wilshire Blvd
Los Angeles, CA 90024

STREET VIEW

REAL ESTATE

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FLOOR PLANS

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AMENITIES

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LOBBY

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PARKING AND LAUNDRY

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

HOME OWNERS ASSOCIATION

How much are the Wilshire Selby East Condos HOA Dues?
What do the HOA dues at the Wilshire Selby East Cover?
What does the Homeowner have to pay for?
Are there any special Assessments?
What is the Pet Policy at the Wilshire Selby East?
What is the Rental Policy at the Wilshire Selby East?
EQ Insurance?
CCRs?
Are there any Special Move in Instructions?
Can you have a BBQ on the Balcony?
Who is the Property Management Company?
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10501 Wilshire Blvd | Wilshire Regent

Wilshire Regent
10501 Wilshire Blvd
Los Angeles, CA 90024

STREET VIEW

REAL ESTATE

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FLOOR PLANS

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AMENITIES

LOBBY

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PARKING AND LAUNDRY

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.

HOME OWNERS ASSOCIATION

How much are the Wilshire Regent Condos HOA Dues?
What do the HOA dues at the Wilshire Regent Cover?
What does the Homeowner have to pay for?
Are there any special Assessments?
What is the Pet Policy at the Wilshire Regent?
What is the Rental Policy at the Wilshire Regent?
EQ Insurance?
CCRs?
Are there any Special Move in Instructions?
Can you have a BBQ on the Balcony?
Who is the Property Management Company?
Read More

High End Real Estate Photographers | Los Angeles

Los Angeles has some of the finest high-end real estates in the entire United States. Prices for High-End homes in Los Angeles range from $10M to $100M.  Sales cycles on these homes is typically 6 months to two years. For these high-end properties, they usually, but not always, have large SQFT of at least 5,000 sqft but more commonly over 10,000 sqft and can sit upon one or two acres. With these properties, you will need 50-100 photos to get adequate coverage as opposed to 20-30 photos for standard Los Angeles Real Estate Shoots. Logistically these shoots usually roll over into 2 days or longer. Multi-day photoshoots and more coverage are two reasons that High-End photoshoots are more expensive. 

For a truly special property, you want marketing to catch every room of these sprawling mansions or estates at the golden hour, rent exotic or vintage cars to park in driveways or models to pose by the pool. Hiring the city’s top photographers to come in and capture the perfect magazine cover shot is not cheap. Prices for High-End photoshoots start from $1,500 and go up to $3,000 to $4,000.

Jim Barsch

http://www.jimbartschphotographer.com/

Berlyn PhotographyNick Springett Photography
Owner: Simon BerlynOwner: Nick Springett
berlynphotography.comnickspringett.com
310-489-9666310-493-5166
si@berlyn.netnikspringett@gmail.com
Cost:Cost:$850-$1500
Clients:Clients:
Description: Description:
Everett Fenton Gidley PhotographyMichael Andrew McNamara Photography
Owner: Everett Fenton GidleyOwner: Michael McNamara
efgidley3.wordpress.commichaelandrewmcnamara.com
310-990-0106424-273-1300
efgidley@yahoo.cominfo@MichaelAndrewMcNamara.com
Cost:Cost:
Clients:Clients:
Description: Everett Frenton Gidley has been an architectural photographer in Los Angeles for X years. He has shot many of the most important architectural homes in the city, including some commercial buildings. There is no Los Angeles real estate photographer in town with more experience.Description: Michael McNamara is a very prolific photographer. He started his business as a high end photographer, but in recent years created a new brand: www.shootingla.com that focuses more on the middle of the market.
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The Weeknd Penthouse Sale | Beverly West Los Angeles

The Weeknd penthouse sale – Beverly West 

If you follow Los Angeles real estate, you’ll have noticed that one of the largest condo sales ever recorded in Los Angeles county – as well as the most expensive condo sale since Candy Spelling’s $35 million penthouse purchase in 2010 – happened recently. 

Canadian singer Abel Tesfaye – stage name The Weeknd – purchased an 8,200 square-foot penthouse condo in the luxurious Beverly West complex. That amounts to just over $2,550 a square foot in a building whose HOA dues regularly amount to over $6,800 a month. 

The Weeknd can afford this splurge. According to Forbes, the singer brought in $40 million this year and $90 million in 2017 from concerts, record sales and endorsement deals with brands like Bacardi and Puma. The Weeknd is no stranger to Los Angeles real estate – he already owns a modern estate in Holmby Hills (estimated value $18.2 million). But he’s spent his recent time in New York with then-girlfriend Bella Hadid, where he rented a four-bedroom triplex penthouse in Tribeca for $60,000 a month. 

However, this purchase definitely takes the cake for Los Angeles living. The 8,200-square-foot condo, advertised as “The Mogul” unit, spans the entire 18th floor of the Beverly West building. The entire residence was designed by Lisa Gariss of Plum Design West and features floor-to-ceiling windows, wide plank white oak floors by Cora of Italy and locally fabricated walnut wood paneling. Each of the penthouse’s four corners boasts a balcony to take full advantage of gorgeous panoramic skyline (and Pacific Ocean) views. 

The master suite has floor-to-ceiling windows, a sitting nook, built-in bookshelves, a walk-in closet and even a home gym, so the Weeknd can work out in privacy. The large master bathroom is bedecked with marble and equipped with a freestanding modern tub and a bidet. 

Each of the additional three bedrooms has its own en-suite bathroom and walk-in closet designed by MisuraEmme of Milan. The penthouse also has two convenient powder rooms for guests. 

One full side of the building is a stunning great room, with luxurious amenities such as a full wet bar, a temperature-controlled wine vault, an espresso bar, a high-end entertainment system, a marble island with counter seating, a game area with a foosball table, lounging nooks and backlit built-in shelving. 

Foodies will appreciate the fully equipped chef’s equipment, designed by Antonio Citterio. The gorgeous kitchen features custom Italian cabinets, Miele appliances, gray countertops and a separate dining area. 

The penthouse is decorated in a masculine palette of deep navy blue to compliment the walnut wood paneling. Select designer furnishings were also negotiated in the sale, including pieces from Giorgetti, B&B Italia, Armani Casa, Poltrona Frau and others. 

“The Mogul” unit feels right at home in the jaw-dropping Beverly West building. The 22-story complex was built in 2009 by Dubai-based developer Emaar Properties and includes 35 units. Floors 18-22 are home to the complex’s single-floor penthouse units. 

Besides the new, modern tower itself, living in the Beverly West is the epitome of convenience. The complex is located along the famous Wilshire Corridor, next to the Los Angeles Country Club and within a short distance of Rodeo Drive to the east and UCLA to the west. The building offers a fitness center, saltwater swimming pool, a rooftop helipad, a 24-hour concierge and 24/7 security services. 

Other Beverly West residents include billionaire real estate developer Richard Lewis, who also paid $21 million for a penthouse condo in Beverly West this past July. Ellen Degeneres and LA Clippers head coach Doc Rivers are also former residents of the complex. 

The Weeknd’s move from a 12,000-square-foot, 9 bedroom, 11 bathroom mansion to a penthouse unit in a tower isn’t all that shocking. In fact, it echoes a trend that many are embracing. With high-rise living, residents who don’t want to own a house or live entirely on their own are able to enjoy communal living and amenities while also enjoying the privacy offered by a single-family home. The Beverly West only has one shared amenities floor; when residents want to go straight home without interacting with others, they are easily able to do so. 

Right now, luxury high-rise buyers tend to be younger, trendier and more artistically inclined, such as Rihanna, who sold her Pacific Palisades estate and moved to a condo at The Century in Century City. But as the population increases, vertical living is sure to grow in popularity. 

Bill Simpson, Jeff Hyland and Susan Pekich of Hilton & Hyland brokered this deal for Emaar Properties, and Angel Salvador of The Agency represented The Weeknd. Interested in learning more about vertical living, or a property in Beverly West? Contact James Colin Campbell XXX XXXXX. 

 

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