A merica the Confusing …

Oh beautiful, for spacious skies. July 2020 opens with the celebration of freedom and independence for our nation from our mother country England on July 4th. Many of our ancestors came here to escape persecution. Others came to profit for business expansion in a new frontier -- much like today’s venture capitalists and tech moguls. Some of us were already here…for thousands of years and suddenly had foreigners in our midst. Still others were brought here against their will, and struggled under harsh existence before they could be freed. Together we all forged the most powerful and impressive nation in world history , at least since the Romans thousands of years ago. Why then does this year’s celebration seem hollow? Where is the unity our ancestors envisioned and fought for? We must recreate it. This truly is America the Beautiful . But pretty is as pretty does.

On a lighter front, real estate in Los Angeles is alive and (relatively) well. Our team has been as productive so far as year 2018, which was a very good year for production - sellers and buyers . The activity is categorized, though, reflecting what is occurring on a national level due to the Pandemic and economic unrest. Homes under $ 1M up to $ 4M are being gobbled up at record speed and prices . In this category one would not know anything else is awry. Above $ 4M, activity slows below levels of recent previous years.  And from $10M - $25M is where the battlefield can be found . An oversupply of new construction homes in this luxury category across Sunset Strip, Beverly Hills PO and Bel Air has caused a noticeable slump -- both in activity and price. Serious price reductions are occurring on the front lines as luxury sellers shift to attract luxury buyers . Somehow, as only in Los Angeles can occur, uber-luxury homes are selling from $36M up to $75M as if nothing was unusual. There is no across-the-board statistic . You must zero in on the price bracket to have a fair expectation for results.

We know this very well. Please call me or anyone on our Team for more specific counsel and analysis. We are busier than ever and surfing the daunting waves that have come our way. And - Happy Birthday, United States! 🇺🇸