The exchange rate now favors internationals, and property values are low compared to many other countries. I have a client from the U.K. who just placed on offer on a 4 bedroom, 4500 square foot new construction Architectural, with a spectacular view in the heart of the Strip, for $ 4,750,000.
In London something with the level of finish this house offers would be in the $ 15,000,000 range. You could easily say the same about Tokyo, Hong Kong, Milan or Paris. Then again, you could say the same about New York, Boston or Seattle. Like it or not, L.A. homes are at bargain rates, this is as good as it gets for buyers. Sellers, on the other hand, have to accept that in order to sell. The economy, whether you are a democrat or republican, is moving. And we will start to see it pick up speed by summer 2011. Happy times are here again. Before the skeptics start tearing my statement apart, let me clarify... this is compared to the last few years when we were at -50 deflation.
We will start to see improvement in houses sold, not necessarily appreciation, but at least more units sold. We are bound to have an increase over prior year of at least +10% - +15%, and we are currently passing "0". Once we start to gain momentum, we will not stop until the next bubble pops in 2025-2028. California is the largest economy in the United States and 8th in the world, and so it takes a little longer to build momentum.
In addition, if you are in the entertainment business, L.A. has 6 major studios to choose from. Paramount, 20TH Century, Fox, Sony, Warner Brother and Universal Picture.
Compared to many other cities in the world, we are also one of the safest in regards to kidnapping and ransom. For many multimillions in South America, the Former Soviet Union, etc., this is something that can happen. You don't hear about kidnapping for ransom in L.A.; multimillionaires just seem to blend into the day to day.
This is the right time to buy!
Who wouldn't like to live among celebrities of Hollywood in Architectural Designed homes in the Hollywood Hills? Hollywood Hills is a beautiful residential area in California. Many celebrities from Hollywood have made their homes here. This place is linked with glamor and beauty. Nestled in the eastern part of Santa Monica Mountains, this place is well known for its scenic beauty. Many realtors can help you to build the type of house you want in this area. You can find such realtors through the net. With their help, you can build a home according to your budget.
Santa Monica Homes Sunset strip estate is attractive to foreign visitors as well. Each year millions of tourists come to Los Angeles from Europe, Asia and Australia, all looking for more upscale and private accommodations.
Shopping - Los Angeles provides some of the best shopping in all of America and while you're there you shouldn't miss the opportunity to shop in stores like Gucci and Tommy Hilfiger. Go spending on Rodeo Drive where all your favourite celebrities' shop, head to Muscle Beach and Marina del Rey and you are guaranteed to be satisfied with your purchases.
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