Ain't that the truth! One point about moving to many of the other areas you listed is the change from a pedestrian culture Beverly Hills to a commuter culture. When you really crunch the figures with the sale of the house in BH especially the worse part-and remember the prices are going down right now, so 1.
Then one must find a new home in a new community which is not as pedestrian friendly or close to all that Beverly Hills is and become more of a commuter This is a huge quality of life change for people who are pedestrian culture dominant. And no money or nice house can really make up for all the time spent in the car for many of us. Traffic even to the store sometimes can be unpredictable. Also a lot of those areas are out of the city and BH is part of a city, so they would also have to leave the city.
City people like the city, so much they are willing to suffer the smaller house and increase in smog and noise. If one has a decent house in one of the nicer areas or close to in a city it is hard to give up. Especially when they have to move not to a nicer neighborhood in the city, but completely away from the area they love. The prices in the areas you listed are also very high and unless one is a builder or contractor it is prohibitively expensive to buy a house in those areas and then hire an architect, builder and build a new home for all under the sale of the house minus moving costs including the agent.
Plus new landscaping and higher taxes on top of all the other costs. All of a sudden staying in BH looks pretty darn good. I say this as I have examined all of those options. Building costs are very high right now and I am in a house that only a year and a half ago was priced at 1.
Who knows what the market will bring. Maybe I''ll get 1. But you bring up excellent points once again. Also I do think you are right. There are a lot of people who live in those areas, myself included that love the cache of where one lives. But I must tell you we lie all the time, because we don't want people to think we are snobby or pretentious my husband and I , so we usually fudge to a more general neighborhood when we tell them where we live.
So there is a lot of that going on as well. People not only react with understanding, many times they also react with very negative judgment, so it is a mixed bag. Something about this city is that once one lives here parts of it are oddly addictive and become hard to leave.
This is the worst. I admire those that just hate it all and never like it. At least they can leave and go live in less expensive housing. Finally one last point. My husband and I have looked north and south of the LA area, yet one thing I heard continually from those that live in those areas you mentioned that still had an attachment to the city was 'I'd give anything to have a home here'.
They hated the drive. Yorba Linda is a fine area, but one still if they are of a certain city mind, drive into the city, which on a regular basis is tough. If I wasn't a city girl I might move, but I am, so that eliminates a lot of options. The crown jewel, Rodeo Drive, oozes unbridled luxury and is every shopaholic's wet dream.
Even window shopping or a stroll is enough to soak up the Beverly Hills vibe. Likewise, faces serious competition from other zip codes right here in the USA. Beverly Hills didn't get its namesake show for anything: the most expensive American ZIP codes during the coronavirus pandemic include the zip code of Beverly Hills.
The Atherton region is also not far behind as many A-listers are grabbing hot real estate in the district. New drool-worthy designer homes come up almost every day in Beverly Hills. Empty lots exchange hands in top-secret deals and are converted into fashionable homes. Still, the hunger for real estate in Beverly Hills seems to rage on as prized lots find new buyers from all across the globe.
One walk down the Rodeo Drive, and all the hype around seems justified. The housing market has certainly seen its fair share of ups and downs in the last ten years. Before the bubble bursting circa , home values were historically high, and the rate of appreciation was unsustainable. Inevitably, the health of the housing market experienced a serious regression. The stumble plunged the entire U. Nearly a decade later, and prices are on the mend — if not higher than they were before the recession.
In fact, some neighborhoods are back to their pre-recession price points or have already surpassed them. Evidence of recent appreciation rates is more than apparent in a few of the most prestigious neighborhoods across the country.
In fact, just to see how far the housing market has progressed, we have decided to examine the 10 of the most expensive streets in the US and find out which one is the richest street in America. While their differences are all but contextual, their similarities are uncanny. Read on to learn more about each of these outstandingly affluent neighborhoods and why they are the most expensive streets in America. Register to attend our FREE online real estate class and find out how real estate investing can put you on the path toward financial independence.
Aside from the lofty price tag, the guest list alone gives Indian Creek Island Rd. Those currently residing on Indian Creek Island Rd. The second most expensive street in America is on the other side of the country in southern California. Surprisingly, it is not Rodeo Drive in Beverly Hills. No more than a block away from Beverly Park Circle resides the third most expensive street in America. This elegant street provides the seclusion and tranquility of the countryside while remaining closely located to downtown Houston.
However, the Mountain, priced out of the reach of even the Hollywood elite, seems more likely to be acquired by a bad actor on the global stage. The owners are scrambling to court higher-minded plutocrats, however.
Paul Getty, by leaving a lasting legacy of purpose. This proposal is certain to set off a battle with the deep-pocketed denizens of Benedict Canyon.
New commercial ventures are verboten, and the rezoning process relies heavily on community input. With the help of a group called Save Our Canyon and the support of other well-heeled resident associations, the BCA has successfully blocked a proposed hotel on an estate previously owned by billionaire Kirk Kerkorian and later by Sonny Bono. Residents will not stand for commercial development, according to Miner.
A development battle would be highly public and protracted, lasting years. And any plans could fall victim to time or other circumstances. The longer the Mountain lingers on the market, the more it begins to resemble an Icarus tale, with a stratospherically high, hubristic price begetting equally elevated expectations, all of which may come crashing down.
The stark shift in sales tactics six months after listing the Mountain could be a recognition of that. However, the owners have no intention of taking the property off the market. Although he sounds confident, his words are oddly cryptic. So nothing surprises me. Subscribe Now. The Scene.
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