How to Invest in Real Estate Successfully

Tips on How to Invest in Real Estate Successfully


Now, if you've fully bought into the idea of real estate investing in the United States, you might just want to know how to go about investing in real estate successfully.

If you want to be successful in this venture, the first thing that you have to avoid is overanalyzing. Of course, it is a good idea to carefully think through your actions but it is a bad idea to overanalyze your investment to nonexistence. You might lose a great opportunity.

Before you purchase the property though, it might be wise to check the property value. If it sits well with you and you can reasonably afford the property, go ahead and make the purchase.

If you are considering the property for a quick flip, make sure that the property is in perfect condition and in good area. This is to ensure that you could double or actually triple your return of investment. If you can inspect the property yourself, do so. If not, a good and trustworthy agent can help you with this task.
Another important thing to remember when you're buying real estate is good financing.

You should take your time to carefully consider all your financing options. Foreign investors can email in their queries to various lending institutions. It is a good idea to make sure that you've had their terms and rates on paper because they tend to change these terms and charge you with a lot of junk. Your real estate agent can help you with reviewing the escrow charges.

The bottom line, however, is that it is very important that you do your homework before you actually buy a real property. Investing in real properties in the United States can be profitable especially during these times. In fact, it may be the wisest and most perfect investment you can make right now.

Maria Gudelis has been a real estate investor and entrepreneur for over 10 years. She has investigated or bought properties all over the world including Mexico, Ecuador, Canada and the U.S.A. Past co-founder of the Southern California 'Forum for Women Entrepreneurs', her passion is to help other entrepreneurs leverage technology and real estate to be successful in their businesses.

Functions of a Real Estate Lawyer

Functions of a Real Estate Lawyer
There is no actual distinctive function for a lawyer in a real estate case. However, you would really need the assistance of a lawyer for various tasks. A real estate lawyer would review the sales contract for you.

He would also check on the title and other documents relating to the property. A lawyer would also review your mortgage contract and make the necessary adjustments or corrections. You could also get him to review with you the legal and tax issues concerning the purchase.

A real estate attorney could also make the necessary adjustments relating to various expenses and costs involved in the purchase. He would assess your eligibility for tax refunds and draft the documents and statements relating to this.

Putting it simply, a real estate lawyer will be your watchdog. He would guide you through the whole process of purchasing a real estate in the United States in order to make sure that you will be legally protected. You will have a capable and trustworthy liaison to help you out with the contract. He will also face legal disputes if any arise.

Real Estate Investment

Understanding the Tax Ramifications of Real Estate Investment

The first foreigner to have ever bought a real estate property in the United States was Peter Minuit. This opened the doors to foreign real estate investors. After a couple of centuries later, foreign real estate investment has grown into huge proportions, accounting for billion-of-dollar worth of industry.

The low risk attached to US real estate market, the availability of countless properties, and the steady market liquidity attract foreign investors in droves. The initial snag, however, is the process of understanding the legal ramifications of foreign real estate investment.

What you have to understand is that foreign investment in the United States can take a lot of forms. A foreigner has various options. He can acquire direct interest. He can acquire an interest in the real estate through a partnership, a corporation, or a limited liability company. The latter is the typical structure used by foreign investors.

Limited partnership or Limited Liability Company offers financial protection or indirect asset protection, especially in cases of bankruptcy, law suits and taxes. Foreign investors are generally taxed on the property as if they hold the property in direct interest.

Ideally, you should secure the services of a real estate accountant to help you out with the tax ramifications, but it would help if you, at least, know the basics before you actually talk to an accountant.

There are tax consequences that you have to deal with when you buy a real estate in the United States. You would need an Individual Taxpayer Identification Number which you will use with all your tax transactions. Your investment in real estates can be treated as a portfolio investment and will be accounted for as an investment income which can either be fixed or a periodic income. This is typically taxed at 30% on gross revenues. This tax though does not apply though to all foreign investors. Tax rates would vary depending on the tax personality the foreign investor opted for. For instance, a corporation would be taxed differently.

Other things that you should take note of are availability and requirements of tax refunds and state tax laws on real estate properties as they may differ from federal laws, among other things.

By knowing all these things, you may save yourself from a lot of hassles when you finally approach a real estate accountant. You'd be in same wavelength when you finally get down to talking business. It is, however, very important that you secure the services of an accountant. You'd have an easier time dealing with the taxes ramifications. You'd also have assistance ensuring that you comply with all the accounting aspect of your investment. This is especially true if you are purchasing a real property for investment purposes.

What Are My Financing Options

I'm Canadian, What Are My Financing Options?
There is a steady increasing rate of Canadian real estate investors in the United States; and accordingly, the government has made certain that they have attractive financing options available to them.

If you're Canadian - or if you're a foreigner - you'd find a lot of reasons why you should buy a piece of real property in the United States. For Canadians, the parity of the currencies or the apparent devaluation of the US dollar is a pretty good reason itself. But how do you finance your purchase?

There are various financing options available to you depending on which state you are in. In Arizona, for instance, you'd get favorable financing terms if you are purchasing a property for recreational purposes, that is, you do not derive any income or benefit from your purchase or ownership.

You will be required, however, to sign up a disclosure agreement and give a 30% down payment for your loan. To qualify though for a loan, you may be required to show availability of liquid reserves for a period of three to six months. You may also be required to present a minimum of 3-month bank statement.

If you are purchasing a property for investment, you'd probably meet stricter terms. Requirements may be more stringent. For instance, you could be required to give a down payment of more than 30% and you may be required to show one year worth of liquidity reserves.

Regardless of your reasons, if you feel like you can fulfill the requirements of a financing loan, you can then proceed to actually applying for a mortgage loan. Also, keeping yourself updated with the financing terms flux may be a wise idea.

Why Should You Invest in the U.S. Real Estate Market?

You've probably heard of the increasing number of foreign real estate investments in the United States. This is not surprising. With the troubles that the real estate investment market is facing in the United States, greater opportunities in real estate investment were opened to foreign investors.

With the dollar's value in its all time low, foreign investors are finding real estate bargains all over the United States. There are no shortages of deals in this market. More and more distressed properties are being sold everywhere and foreigners are pouring in millions buying these foreclosed or distressed properties. The United States real estate has become a fairly attractive long-term investment for foreign investors.

In November of 2006, the National Association of Realtors released a report entitled "Foreign Investments in U.S Real Estate: Current Trends and Historical Perspective". The report showed that there has been a steady increase in foreign real estate investment in the United States.

 This is especially after the euro and the loonie became stronger in the face of the continuous devaluation of the US dollar. Prime bargains were opened to foreigners. Many foreigners have now looked into the possibility of retiring or settling in the United States.

If you're a foreigner, you would find a lot of reasons why you should invest in the United States real estate market. Aside from the fact that the floating exchange rate has given you a lot of leverage over the bargaining table, the financial market is a pretty good reason why you should invest in the US real estate.

The financial market in the United States in relation to the real estate market is quite liberal and the restrictions against foreign investors are pretty reasonable. This is ideal for foreign companies that are seeking to invest in the real estate market in the United States in order to avoid tariff restrictions and are considering setting up an office or a company in the United States.

Furthermore, despite the devaluation of the US dollar and the wide foreclosures of a lot of property, the real estate market remains to be stable, though slightly shaky, due to foreign investors' capital appreciation. Domestic real estate buyers may not necessarily share the same opinion, but the market has remained to be strong for foreign real estate buyers. This may be largely credited to the fact that there is minimal risk for them.

10 Common Mistakes Made in Purchase of Real Estate

Some of the common mistakes people make when purchasing real estate are mentioned below.
Mistake 1: Not Taking Help from an Estate Agent
Many people avoid taking help from estate agents to save on commission. What they do not realize is that these people are professionals and know a lot more about the property in the area or region than common people. Thus, they can help buyers in finding the most suitable property. Moreover, they can negotiate better and get the best deal for buyers.
Mistake 2: Taking Help from a Wrong Agent
Choosing an inexperienced or incompetent agent can lead to great losses for the buyer. Thus, its best to research on various agents and reading the comments of their previous client's before hiring them. Another great way to find a good agent is by asking friends or family members for referrals.
Mistake 3: Choosing the Wrong Location or Neighborhood
Many people do not consider location or neighborhood when buying a property. They therefore, end up choosing locations or neighborhoods that are not suitable for them. Thus, making a list of priorities and needs with regards to location before starting the search for a suitable property is highly recommended.
Mistake 4: Paying Too Much
Many people pay too much for a property as they are not aware of the prices in the local real estate market. This happens especially when the buyers are from another area or region. Therefore, it is good practice to compare property prices in the region before choosing one. An agent can be quite helpful in this matter.
Mistake 5: Buying the Property without Proper Inspection
Many people feel that they can detect problems with a property on their own. However, professional inspection is a must when buying property. This can help the buyer in avoiding huge costs later on.
Mistake 6: Borrowing Too Much for the Purchase
Many people borrow too much for property purchase and then have difficulty in paying the loan installments and interest. Thus, working out a budget before taking a loan is advisable.
Mistake 7: Not Getting Pre-Approval before Starting the Hunt
Pre-Approval helps people determine their financial standing. They can thus, choose the houses that are affordable for them and avoid looking at those that are out of their reach.
Mistake 8: Being Hasty and Letting Emotions Rule the Decision
Many people get emotional and close the deal in haste. However, they should understand that property purchase is a big decision and should not be taken in haste. It should be taken rationally instead of emotionally.
Mistake 9: Not Reading the Contract Properly
It is common to get confused by the complex contract document. Moreover, in their haste to get everything done, people sign the contract without going through it properly. However, it is essential to read the contract carefully to know everything involved. If something is not clear, the seller, agent or an attorney should be asked.
Mistake 10: Buying a Property without Title Insurance
Title insurance gives protection to homeowners from any loss occurring due to property purchase. It can protect buyers against things like title frauds and unknown title defects.

Real Estate Entitlement

Real Estate Entitlement .The truth is that there is no such thing as a general approach when getting an entitlement. There are different steps that you need to take when getting an entitlement and you need to be aware of these steps if you want to be successful with it. So if you are looking for ways on how you can increase your chances of getting an entitlement, then it would be better if you are going to get someone who is aware of your situation, the entitlement that you need, and the laws in your state that regulates real estate entitlements.
For example, if you are planning to renovate a parking lot, then you need to have an entitlement that will allow you to change the structure of your parking lot. You need to provide a blueprint that indicates the things that you want to change before you can get your own entitlement. Your real estate agent knows the things that should be done to get one, because I cannot provide you with a general approach. Keep in mind that different states have different rules, so it would be better if you are going to consult a local professional when getting such entitlement.
Different changes in your property need different real estate entitlements, and only one thing is for sure; you need to provide a blueprint of the changes that you want to implement, because this will be the basis whether you are eligible for such entitlement or not. All you have to do is to look for a professional who can help you create a blueprint for you. You also need to have a complete blueprint of an establishment whenever you are planning to demolish a property and build a new establishment. You don't have to get different entitlements for different changes that you want to make.
You also need to prepare different fees to get your hands on different entitlements. You can ask your city official regarding the documents that you need and the fees that you need to settle before you even start to look for someone who can help you process your entitlement. This is the most important thing that should be done, and will ensure that you will be successful in getting your approval for renovation. The service of a real estate agent, realtor, or a broker will be very important and will increase your chances of getting an entitlement.

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Top 10 Tips for First-Time Home Buyers

Buying a house can be intimidating. But it doesn't have to be! We’ve compiled the Top 10 Tips for first time home buyers. They are presented in chronological order. If you have any questions, please contact us and we’ll certainly get back to you.

1. Should I Even Buy?

There is nothing wrong with renting and in many cases it’s the smart move. A critical factor to consider is how long you expect to live in the house. Some experts believe that you’ll need to stay for at least 36 months. Of course, that will depend on the price you pay for the home, it’s current value and rate of appreciation.
It is good to note that in today’s “easy” credit environment, lenders are increasingly willing to loan large sums of money to purchase a house with a very small down payment. So, just because you don’t have a lot of money available for a down payment, it doesn’t mean you can’t buy a house.
While creditors are still out looking for new customers, the days of loaning money to anyone with a heartbeat are past. Getting Pre-Approved is a key step to buying a home and shouldn’t be ignored.

2. Get Professional Help

No, we’re not talking about a therapist, but instead, real estate professionals. After the decision to purchase a house is made, the next thing you should do is find a quality agent—someone who understands the process and the market; someone who’ll work well with you to find that perfect house.
Then ask your Realtor® to identify a reputable lending company. Having these professionals on your team will ensure that your first-time home buying experience goes smoothly and that you make the best decisions possible.

3. Locate the Location

You can save yourself a great deal of time and energy by narrowing the field of properties you are considering. Start by identifying the part of town in which you’d like to live. Take time to consider its proximity to your job, shopping, major highways and schools, if you have children.
Also note whether an area is growing or not. Would you prefer to live in the hustle and bustle of a expanding area or would you rather find a more secluded, quiet location away from crowded roadways and busy shops. Your Realtor can help you with this. The last thing you want to do is purchase a home that doesn’t fit your lifestyle. Remember what they always say, “Location, location, location.” Yes, it’s that important.

4. Create Your Master List

One of the toughest tasks with any purchase decision is determining whether something is a want or a need. If you identify these features from the outset, before you’ve looked at a single property, then your list will have been made objectively and you won’t be susceptible to last minute temptations.
For example, if you didn’t list a in-ground hot tub as a need (or even a want) on your Master List, then when you visit a property that has one, you’ll be able to correctly assess the overall home and not let a single feature skew your perception.

5. Get Pre-Approved

Before you visit a single property, you should take time to sit down with your lender and determine what you feel comfortable borrowing to purchase this home. (Getting quotes from multiple lenders is even better!) Pre-qualification is a quick process that doesn’t go far enough. Pre-approval is much more thorough and basically says, Lender A with loan you “X” dollars for a house in a specific price range. It’s not the final say so but it is what most real estate professionals consider as legitimate. It doesn’t take much time and will help you zero in on the price range that is custom-fitted to your financial situation.

6. Visit Some Properties

Nothing will give you a feel for a home like visiting it in person. Have your Realtor® set up a few showings and enjoy the process. Hopefully you’re not under a time constraint and the viewings will be a fun experience. Only by visiting a few properties will you start to get a good feel for the kind of properties that exist on the market in your price range and in your desired geographic location. Don’t expect to find your dream home the first trip out. Today’s statistics show that home buyers visit an average of 10 properties before making an offer.

7. Educate Yourself

Your Realtor® will always be your most valuable resource, but you can also take advantage of the Internet in the following ways: learn more about a specific property/area; take virtual tours of houses before physically visiting them; compare characteristics of multiple properties in order to make a more informed decision.
The Internet has revolutionized the real estate industry and has given home buyers and sellers access to information that was previously unavailable. 

8. Negotiate The Deal

When it comes to negotiations, having an experienced Realtor® is vital. Understanding how the negotiation process works and the intricacies of how to best frame an offer can sometimes be the difference between getting that dream house at a price you can afford or completely missing out.
One other point, always make your offer contingent on a home inspection. Your agent can recommend a good home inspector and the costs are relatively low. You certainly want to know about a leaky basement before you purchase that house… not after.

9. Insure Your Valuables

Now that you’ve got a house, you want to have it insured, right? That goes for your home’s title as well. Title insurance is relatively cheap and is becoming more and more important in today’s litigious environment.

10. Close and Move In!

It’s finally here—the big day! A house closing isn’t the most exciting experience but it’s the necessary, final step in home ownership. Then you get to move in. Hopefully, it won’t be raining and the movers won’t break (or lose) a single item.
Congratulations, you are officially a homeowner!

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This article was written by Tre Pryor, a Realtor® with RE/MAX Champions and a Louisville real estate expert. He is also the Editor-in-Chief of the LouisvilleHomesBlog.com, the top real estate blog in Louisville, KY. The original content of this article appeared here.

Mark Twain on Monetary Policy (h/t Patricia Harris)

First published in 1879 as "Mark Twain as a Presidential Candidate."

My financial views are of the most decided character, but they are not likely, perhaps, to increase my popularity with the advocates of inflation. I do not insist upon the special supremacy of rag money or hard money. The great fundamental principle of my life is to take any kind I can get.

Prepping for the Mad Men season premiere? Make sure to visit my midcentury modern open house tomorrow

Can't wait for the Mad Men season premiere? Fascinated by midcentury design? Looking for that perfect MCM home and not quite ready to move to Palm Springs? Whet your appetite for all things 1950's-1960's by visiting my open house from 2 to 5 tomorrow at 3031 N. Lamer in Burbank.  (Title should link to website; if not it's www.3031nLamer.com.) Designed by noted architect Boyd Georgi, it has all the hallmarks of midcentury post and beam design, including huge windows, an atrium, recessed entry, smooth indoor-outdoor flow, and more.  Plus, it's in the fabulous Burbank school system and has an expansive view of the San Fernando Valley.  Oh yes -- it has 3 beds, 3 baths, a den, solar heated pool, 2127 square feet, and has been rehabbed in "period" style.  It's listed at $839,000.  Of course, we'll have our special 1950's-early 1960's playlist going too.

Friday Potpourri

Yes, buttons and butter beans, Your Mama and The Dr. Cooter are still, technically, on vacay out with all the greys and gays out in Palm Springs (CA) but here are a few links to tidbits and morsels discussed by some of our friends and associates in the celebrity real estate gossip game to keep you busy as you whittle away the final hours of your 9-to-5 work week.

1.
Professional toker and serious art collector Cheech Marin sold his joint in Malibu. (via the long-legged blond at Trulia)

2.
A Midtown Manhattan penthouse (rumored and reported) to be owned by Oprah Winfrey and (allegedly) briefly occupied by Gayle King went into contract with an unnamed British financier after just a week on the market. (via Miz Gould Keil at the New York Post)

3.
Filthy rich but mouthy actor/filmmaker Mel Gibson has re-listed his 500-acre beachfront spread in Costa Rica with an asking price of $29,800,000. (via the property gossip gals at The Wall Street Journal)

4.
A 9,000 square foot Greek Revival-style townhouse in the natty and naboby section of New York City's Brooklyn Heights 'hood once owned (or maybe it was only leased) by mincing scribe Truman Capote sold for a record breaking $12,500,000 to the British fella who made his mountain of money primarily from the creator/writer/producer of the enormously successful and brutally violent and Grand Theft Auto video games franchise. (via the peeps at the New York Post)

4.
The last residence of Beatle George Harrison—a monstrous, wedding cake of a villa in fancy pants Montagnola, Switzerland—has come up for sale with an undisclosed asking price. (He paid ten million for the Swiss estate in 2001 shortly before he died.) (via the busy real estate beavers AOL)

5.
One of the billionaire Bronfmans—philanthropist and former Seagram CEO Edgar M.—has put the 540-acre family farm outside Charlottesville, VA on the market with a $10,300,000 price tag. (from the property gossip gals at The Wall Street Journal via the ever-industrious kids at Curbed)

6.
And just for shits and giggles here's a little ditty about a hot mess of a mansion in Miami, FL  built by a local hi-rise developer on an island in the center of its own man-made lake and listed for $10,900,000. (from Realtor.com via the ever-industrious kids at Curbed)

Art Linkletter's Bel Air Mid-Century Modern Goes on the Block

SELLER: Estate of Art Linkletter
LOCATION: Los Angeles (Bel Air), CA
PRICE: $10,250,000
SIZE: 5,000 square feet (approximately), 5 bedrooms, 5.5 bathrooms

YOUR MAMAS NOTES: Technically, we're still on holiday but we thought the children might appreciate a quick glimpse of a pedigreed mid-century modern pad perched high above Los Angeles' Bel Air community. The house, once owned by music industry mogul Quincy Jones, was long owned by late radio and television icon Art Linkletter and pushed on the (open) market this week, we learned via covert communique from Our Fairy godmother in Bel Air, by his estate with an asking price of $10,250,000.

Mister Linkletter won't likely be a recognizable name to anyone who hasn't already gone grey but once upon a time he was wildly famous for (among other things) his cute and humorous interviews with precocious children in the 1950s and 60s on the long-running tee-vee programs Art Linkletter's House Party and Kids Say the Darndest Things. Mister Linkletter was an also an early investor and promoter of the hula hoop—'tis true—and the long-time spokesman for the iconic Milton Bradley board game The Game of Life.

Mister Linkletter's single story sprawler on 4.6 acres high above Bel Air, was built in 1958, designed by architect Philmer J. Ellerbroek and featured in Architectural Digest in 1959. In addition to the 5 bedrooms and 5.5 bathrooms listing information indicates the low-slung residence also includes formal living and dining rooms with long expanses of floor-to-ceiling glass as well as extensive private and service areas that include a family room, kitchen, breakfast room, and laundry facilities.

As per current listing information the house, architecturally preserved if not pickled in time, has "Classic mid-century architectural elements [that] include two atriums (one with an outdoor patio), sculptural metal screens, pocket doors, stone fireplaces, walls of glass, [and] one-of-a-kind built-ins...."

The gated grounds have a long driveway, off-street parking for upwards of 20 cars, multi-car car port, lushly landscaped gardens, flat lawns, a sport court of some sort, and a boomerang-shaped swimming pool with sweeping views over Los Angeles and Century City.

Not bad for an orphan boy born in Moose Jaw, Saskatchewan (Canada).

Some of the swanky nearby estates and mansions are owned by the aforementioned Quincy Jones who stayed in the 'hood when he sold to the Linkletters, soft porn purveyor Joe Francis, PayPal and Tesla Motors co-founder Elon Musk, social fixture Jean Kerkorian (an ex-wife of billionaire Kirk Kerkorian), and 90-something year old Hungarian Zsa Zsa Gabor and her attention hungry 9th husband Frédèric Prinz von Anhalt.

Just down the road a short piece are properties owned by Salma Hayak and her luxury goods mogul huzband Henri-Francois Pinault and the former Marion Jorgensen mid-century modern compound scooped up by Transformers film franchise tycoon Michael Bay in late 2009 for $10,900,000 and quickly knocked down so he could custom build a new mansion that Your Mama fully expects will be as big as a boo-teek hotel.

listing photos: Coldwell Banker Previews International

If you look really, really closely -- no, not at the garbage can --

-- you'll see three deer.  Look down the middle of the street and then look to the left.  These three were having dinner close by my new listing at 3031 N. Lamer, in Burbank.  This pic was taken a few minutes after 5:00 pm.  My seller tells me they come for breakfast, too. 

LeAnn Rimes Finally Sells 23-room White Elephant

SELLER: LeAnn Rimes (and Dean Sheremet)
LOCATION: Franklin, TN
PRICE: $4,100,000 (sale); $7,450,000 (original list)
SIZE: 13,310 square feet, 6 bedrooms, 6 full and 3 half bathrooms

YOUR MAMAS NOTES: Oh, what a tangled web of romance and real estate has cross-over country music queen LeAnn Rimes woven over the last few years.

In 2002, at the dewy age of 19, the Grammy, CMA, BMA, AMA, and ACM award winning former Star Seach champion married one of her slim-hipped back-up dancers—that would be Dean Sheremet—and barely-out-of-their-teens newlyweds soon set up house like grown ups in a 7,000-plus square foot mansion on a fast-moving country road in Nashville, TN. Property records show she/they purchased the three-acre estate in April 2003 for $1,700,000 and sold the 5 bedroom and 5.5 bathroom mansion in October 2008 for $2,125,000 to professional wrestling promoter Dixie Carter-Salinas and her hubby Serge.

So goes the celebrity real estate scuttlebutt, Mister and Missus Sheremet-Rimes had moved to an even bigger, 23-room mansion they custom-built on a rounded hilltop in a gated enclave of an upscale but unfortunately Medieval-themed gated community in the semi-rural and star-studded Nashville suburb of Franklin (TN). It's not clear what the couple paid for the property but public records we peeped reveal they took out a construction loan of more than four million dollars to build their own version of Barbie's Dream House.

Alas and alack, wasn't long after the Sheremet-Rimes settled in to their newly-finished, brick-built behemoth sometime in 2008 that Miz Rimes began an extra-marital affair with beau-hunky tee-vee actor Eddie Cibrian, then also married and making babies with long-legged and potty-mouthed former fashion model Brandi (with an "i") Glanville who reality tee-vee watchers know from her high-drama stint on The Real Housewives of Beverly Hills.

By May 2009 Miz Rimes and her cuckolded husband had flipped their recently-completed mansion on 5.22 hilltop acres in Franklin, TN on the market with an asking price of $7,450,000. Listing information from then indicated the beefy, three-story residence measures 13,380 square feet and includes 4 bedrooms and 6 full and 3 half bathrooms while more recent listings available online show it has 13,310 square feet and contains 6 bedrooms and 9 bathrooms. Make of those numerical discrepancies what you will.

Although they'd gone their separate ways a year or more before, Miz Rimes and Mister Sheremet—weren't officially divorced until the summer of 2010. It took a couple more years before they managed to unload their former marital home in Franklin at a steep discount; Online sale records we perused show the gated estate with two ktichens, 360 degree views, salt water swimming pool, yoga studio, and smart-house technology sold in mid-March of this year (2012) for $4,100,000, a fortune by any standard, but nearly 3.5 million less than Miz Rimes and Mister Sheremet originally wanted.

Prior to hooking up with Miz Rimes, Mister Cibrian and ex-wife Brandi—with and "i"—Glanville owned an architecturally specious mansion in Encino, CA they sold in late 2007 for $4,300,000 to comedian Carlos Mencia. The erstwhile couple and their kids decamped to 6 bedroom and 6.5 bathroom residence in the gated Mountain View Estates community in Calabasas, CA they bought in January 2008 for $2,500,000 and sold at a loss in May 2010 for $2,200,000.

After kicking Mister Sheremet to the romantic curb Miz Rimes, we heard through the celebrity real estate gossip grapevine, made house a leased mansion in the equestrian-minded and guard-gated Hidden Hills (CA) community.

We're not exactly sure where Mister Cibrian and Miz Rimes, who married last year, currently reside although we've heard (but can not confirm) they're still hunkered down in in a big house in the hot as Hades western suburbs of Los Angeles in or around Calabasas. Last year the greying and hunky Mister Cibrian appeared on The Playboy Club, canceled shortly after its premiere. The short-lived show taped in Chicago where the couple acquired—or maybe leased, we're not quite sure—a condominium they had worked over with Tibetan antiques and contemporary art by interior designer Jonathan Pierce, a process taped for the HGTV program Interiors, Inc.

listing photos: Fridrich & Clark Realty

Four Tidbits for Tuesday

Your Mama and The Doctor Cooter are on a wee vacay and rather than spend the day toiling on our trusty lap top computer and typing our fat fingers to the nubbins we're going to take it easy and spend the day sunning our buns by the swimming pool. Rather than leave the children completely high and dry, however, we thought we'd offer up a quartet of links to some celebrity real estate-related tidbits and morsels previously hashed and discussed elsewhere.

1.
Although Fort Knox like secrecy surrounds the details of the three recently listed New York City apartments owned by the late and eccentrically reclusive copper mining heiress Huguette Clark, slim scraps of descriptions have started to dribble out in achingly frustrating and tiny dribs and drabs. The lucky chosen few who have toured the sprawling Fifth Avenue aeries tell vague but juicy tales of lavish but tired day-core, severely outdated kitchens, and brightly colored 1960s era tile work in the bathrooms. (via The New York Times)

2.
The wildly opulent faux-French chateau in Los Angeles' hoity-toity Holmby Hills 'hood where the late moon walking superstar Michael Jackson met his maker in the form of a high paid doctor and a Propofol delivery device has returned to the market with an asking price of $23,900,000. The Richard Landry-designed, 17,171 square foot white elephant sits on on 1.26 gated and landscaped acres and has been on and off the market for nearly four years with asking prices as sky high as $38,000,000 and as low as $23,500,000. (via Curbed)

Thanks to an informant we'll call Whispering Willy, we've recently come to learn that last December, the owners Roxanne and Hubert Guez—he's the CEO of the haute-trashy fashion brand Ed Hardy—auctioned the contents of the house that included, according to the auction results posted online, a "rooster chalkboard with note from the Jackson children" (lot 434, sale price: $5,000) and a burl wood Victorian Revival style armoire with beveled mirror inscribed with a black felt pen by Mister Jackson that reads, "Train, perfection March April Full out May." (lot 162, sale price: $18,750).

3.
Your Mama wouldn't know a little Lil Wayne ditty if it slapped up upside the head with a rubber mallet but the lil rapper was reportedly—and somewhat ironically—cited for "high grass and weeds" around the 10,000-ish square foot mansion in the gated Place Pontchartrain subdivision in Kenner, LA, a suburb of  New Orleans.

The report goes on to reveal that this ain't the first time Mister Wayne—née Dwayne Carter—has been cited for not keeping up with the landscaping around the 5 bedroom mansion he picked up in 2006 for $1,750,000 and currently has on the market for $1,700,000. (Nola.com via Zillow)

4.
Perky, athletic and conservative chat show co-hostess Elizabeth Hasselbeck (The View) and her former professional football player hubby Tim Hasselbeck have hoisted their 3-4 bedroom and 3 bathroom Manhattan apartment on the market with an asking price of $3,300,000. Unless a rather unlikely bidding war erupts and drives the sale price up, it looks like the Hasselbecks—who have three small children—will take a loss on the approximately 2,300 square foot, 16th floor condo crib they scooped up in April 2008 for $3,250,000.

The interiors of Mister and Missus Hasselbecks' bi-winged residence are not-surprisingly traditional with mahogany-colored hardwood floors (that may or may not be mahogany), cornflower blue painted walls in most of the public areas, a matching set of masculine riveted leather sofas in the living room, blue and white gingham wallpaper in the expensively equipped galley-style kitchen, Chippendale-style chairs in the dining area, and loads of white built-in cabinetry. (via Zillow)

The Art Of Hanging Art from a Professional

By Dana J. Smithers

This article originally appeared here: http://www.presstaging.com/resources/articles/the_art_of_hanging_art.php

Have you ever walked into someone's home and had to really control yourself not to walk over to a piece of art and rehang it. I have, and anyone in the business of decorating, redesigning or staging spends hours doing behind the scenes work that our clients will never know we have done. Since I teach courses in Redesign and Home Staging I always tell my students that even though the client's don't know what we do, I can sleep soundly at night because I know I hung the art professionally.

Art is really part of the 'icing on the cake' along with accessories (that's a whole other topic) and is one of the key steps in creating a professional look in your home. There is an abundance of different styles and price ranges of art available to all of us. The important thing in choosing your art is to ensure that is coordinates with the style of your home. Mixing different styles of art such as some traditional pieces with modern art can create a really personal style for you.

So what is so difficult about hanging art? Well as a professional decorator, home stager and redesigner I have worked in 100s of clients homes and have hung 1000s of pieces of art. These are some of the most common mistakes people make: 1) the art is too high - you know the kind you strain your neck to look at; 2) there are individual pieces of art all over the house that actually belong together as a cohesive grouping; 3) the art does not have the proper hanging screws and/or wire on the back and finally 4) the art is not hung with the proper hooks.

If you follow these easy steps you can have hang your art like the professionals!

I. For Art Over an Object such as a Table, Sofa, Fireplace, etc.

A. Before you hang the Art:

1. Decide which art you are going to group together. This decision is based on finding a common element that allows the art to work together i.e. theme, colour, style, etc. Add surprise pieces like masks, fans, hats, etc.
2. Lay them on the floor with the heavier piece(s) on the bottom and line up the bottoms or centre them with each other. For smaller pictures space them approximately 1" apart and for larger pieces 2" apart.
3. Make the basic outline shape of a rectangle or a square.
4. The length of the grouping should be approximately 2/3 of the object you are placing the art over e.g. if the art grouping is going over a table of 60" long, then the ideal grouping would be 40' in length.

B. Hanging the Art:

1. To determine the number of picture hangers you need and where to put them follow this rule.
1. For pictures under 30" you will only need one proper weight hook which you will place at the centre e.g. if your one piece is 36" then you mark centre at 18" with the tack.
2. If a picture is 30" and over AND has glass use 2 hooks. To determine where to place the hooks for this size art measure and mark the centre with sticky tack. Then measure from the centre tack to the end and find centre. Place another piece of tack here. Do this on both sides so now you will have a piece of tack in the centre, and 2 more halfway between centre and the end of the picture.
2. To determine the height follow this 'Art Height Guideline' and remember it is only a guideline there are other factors that determine how to hang art. For now, we will keep it simple for you. Place the art 4 - 10" over an object such as a sofa, table, fireplace, etc. 
3. Mark the centre or (quarters if over 30") with a pencil. Make a short (1/2") horizontal pencil line across and then a short (1/2") vertical line down so that you have made an upside down 'T'. If over 30" then you need to make 2 marks as this is where you will hang both hooks.
4. If the picture has a wire then find centre and measure the distance from the wire to the top of the picture. If it is 7" then you will make another pencil mark exactly 7" from your original upside down 'T' mark. It is best to use a level or laser level to make sure it is lined up.
5. To hammer in your hook place the bottom of the hook where the 'T' line intersects (Many people put the nail here and if you are using a hook it must be the bottom of the hook). Hammer in on a diagonal. Give it a tug to make sure it is in solidly. 
6. If the picture can only be hung from the sides then follow the same steps as above except measure from the side hook to the top of the picture.
7. If the picture has a 'saw tooth' hook (jagged ¼' piece of metal ½ - 1" long) then follow the same steps as above. Hang it with a 1" nail and put sticky tack on the two bottom corners to keep it in place as these always move! 
8. To determine the type of hook to use for most pictures with wire you can find picture hangers at hardware and art stores. They will tell you the weight the hanger will hold. For small pictures often 1" nails will work just fine. If you have not tried the new 'dry wall hangers' with the curved ends check them out at Home Depot. They hold up to 150 pounds and are easy to use in drywall and some wood paneling.
9. Best tools to use are levels, lasers, hanging level wall tool for smaller pictures. All of these products can be purchased at big box hardware stores.

II. For Floating Art such as Photo Galleries, large stand alone prints, etc.

A. Before you hang the Art:

1. Follow all of the same steps above except for determining the height.
2. To determine the height follow this 'Art Height Guideline' and remember it is only a guideline there are other factors that determine how to hang art. For now, we will keep it simple for you. Once you have determined your placement find the centre of the side of the art and put a piece of sticky tack here e.g. if the art is 52" in length the tack goes on the side at 26". On the wall put a piece of sticky tack 56" - 60" from the floor. (The larger the piece of floating art the closer to 56" you want it to be.) Line up both pieces of sticky tack i.e. the piece of art has one on its side and the wall has a piece of sticky tack.
3. Once they are lined up then make your pencil mark at the top and follow the same steps in B. Hanging the Art.

TIP: To remove your pencil marks use Mr. Clean Magic Erase. Be careful with freshly painted walls though rub sparingly.

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About the Author

Dana J. Smithers is an expert in the fields of Home Staging and Home Redesign. Dana has taught 1000s of people her ‘Secret Success Home Makeover Formula' for living and selling. She teaches a comprehensive 5 Day PRES® (Professional Real Estate Stagers) Home Staging & Redesign course in Western Canada. She is the Founder & Creative Director of both Sun On My Back Redesigns and PRES Staging Resource Centre.
To receive your monthly tips from Sun On My Back Redesigns sign up for our enewsletter at www.sunonmybackredesigns.com.
Check our home staging and redesign courses.

New data since I posted yesterday

From this morning's Economic Times (one of India's leading newspapers).

NEW DELHI: The number of India's poor fell to 29.8% of its population in 2009-10 from 37.2% in 2004-05, one of the sharpest falls ever. This suggests India has not only grown faster than the world economy, but that this growth has lifted millions out of poverty. 

In absolute terms, the number of poor in the country declined by around 13% to 354 million during the fiveyear period with rural poverty falling faster thanurban poverty. During the period, rural poverty declined by 8 percentage points to 33.8%, almost double the decline of urban poor by 4.8 percentage points to 20.9%. 

"This is not surprising. Such an outcome is on expected lines as this is the period when the government increased the expenditure on flagship programmes substantially. We gave money to the people and the result is a direct impact of that," said Mihir Shah, member, Planning Commission. 
The numbers also re-affirm the impact of the government's flagship Mahatma Gandhi National Rural Employment Guarantee Scheme that entitles 100 days of work at a minimum rate of Rs 100 per day to all rural households. The scheme was launched in 2006 and has single-handedly transformed rural India. 

It is interesting that India started a war on poverty in 2006, and it seems to be winning.  Not that one thing necessarily caused the other, but it is some coincidence.

Midcentury modern home for sale in Burbank (yes, Burbank) has listed

Here's the midcentury modern listing that I've been posting about forever.  The address is 3031 N. Lamer in Burbank, which is high up in the hills.  Architectural style of this kind is rare in Burbank. Yes, it's this pretty -- the current owners rehabbed it a couple years ago and even added a little touch of tiki style.  It was designed by noted architect Boyd Georgi, AIA, who is also known for designing the Altadena Public Library.  The design shares many features in common with Eichler home styles, including post and beam construction, an atrium, a stacked brick fireplace, and more.  You can see lots of other pics on my website at www.judygraff.com under "featured homes" and the website (3031nLamer.com) should be up tomorrow.  Oh yes: it has 3 bedrooms and 3 baths, a living room and a family room, 2127 square feet, and a sweeping view of the Valley.  It's listed for $839k -- where else in the L.A. area can you find this authentic style + great schools + this below-a-million price?

1585 Knollwood Terrace in Pasadena is back on the market, but probably not for long

Alas, the buyers of this gorgeous Linda Vista home had a change of heart, and backed out.  Apparently, Mrs. felt that it was too isolated.  They didn't even get to enjoy the deer that visit the backyard (that's Mrs. Deer, above). Their loss will be somebody else's gain -- we have several second showings tomorrow.

Swizz Beatz and Alicia Keys Flip Out in SoHo

SELLERS: Alicia Keys and Swizz Beatz
LOCATION: New York City, NY
PRICE: $17,950,000
SIZE: 5 bedrooms, 4 full and 4 half bathrooms

YOUR MAMAS NOTES: It was only in February 2010 that R&B superstar Alicia Keys and her Grammy-winning record producer/rapper/DJ husband Swizz Beatz (née Kasseem Dean) dropped $12,750,000 to acquire high-heel sporting rock star cum design maven Lenny Kravitz's legendarily difficult to sell real estate white elephant in New York City's Soho 'hood.

The children who follow celebrity real estate will recall that Mister Kravitz—at one time a bone fide real estate baller—spent several years unsuccessfully trying to sell his decadent duplex digs at a frequently-changing variety of asking prices that went as high at $19,500,000 and dipped as low as $12,500,000.

Thanks to Soho Sally (and the kids at Curbed) we've recently come to understand that two short years after buying their Manhattan aerie from Mister Kravitz, a fairly quiet wagon hitching ceremony on the island of Corsica, a new baby boy they named Egypt, and two more Grammys to add to her dozen others, Miz Keys and Mister Beatz have flipped their glassy duplex penthouse in Soho back on the market with a substantially increased asking price of $17,950,000.

Listing information shows the duplex penthouse, which has a third level roof terrace, measures in at a mansion-sized 6,167 square feet and contains 4-5 bedrooms and 4 full and 4 half bathrooms. Monthly maintenance and common charges for the penthouse that sits atop a full-service boo-teek building—once home to Hole rocker and Twitter princess Courtney Love—run a hefty-hefty-hefty $11,564 per month. Listing information also indicates the penthouse property also comes with separate and private wine cellar and storage/dressing rooms, presumably located somewhere in the bowels of the red-brick and cast iron building.

Although it's day-core is now lighter and brighter, a quick perusal of the juicy floor plan included with current listing information and marketing materials indicates to Your Mama boozy, vacation eyes that little has been altered from Mister Kravitz's ownership. The lower level of the posh ans spacious penthouse includes a massive gallery entrance with floating glass staircase and a pair of powder rooms, a high-glam solarium style formal dining room, and a 600-plus square foot living room with fireplace and a wall of floor-to-ceiling windows that give way to a city-view terrace that extends the full width of the penthouse. Not surprisingly, there's a grand piano near the windows where Miz Keys no doubt tinkles the ivories and composes her next mega-hit songs.

Also on the lower lever are a library/media room with walk-in closet and attached private bathroom, and a considerable eat-in kitchen with colossal marble-topped work island, a small walk-in pantry, an adjoining laundry room, and a wall of windows that slide open to a narrow terrace that runs the full width of the building.

The floating glass staircase—still with mortifying taupe shag carpeting on the treads—ascends to the second floor where there's a large office area completely encased in glass that overlooks the dining room. A long hallway provides access the guest/family bedroom wing that consists of one bedroom with walk-in closet and private attached facility plus two smaller bedrooms, each with private powder rooms and a shared sky-lit shower room that opens directly into the hallway.

The star-worthy, second floor master suite has huge windows, massive sky lights, a small private balcony, and several standard closet/storage cabinets plus a fully-fitted dressing room. The compartmentalized bathroom consists of his-and-her terlit/bee-day cubbies that open into a shared shower space and a wide, curving wall with twin sinks/vanities that flank an over-sized soaking tub.

A glass enclosed exterior staircase climbs from the second floor to the massive roof-top terrace with built-in stainless steel barbecue center/outdoor kitchen and expansive city view.

We haven't a clue why Mister and Missus Keys might want to sell their fancy pants penthouse so soon after buying but it could be that in the end it's just not large enough to accommodate their growing family—Mister Beatz has four children by four woman including a toddler boy named Egypt born to Miz Keys.

Prior to buying Mister Kravitz's sloppy real estate seconds, Miz Keys owned a fairly traditional, 15-room mansion in the upscale suburban Long Island enclave of Syosset (NY) bought in December 2005 for $2,933,380, put up for sale in early summer 2010 with an asking price of $3,850,000 and sold, according to property records, in June 2011 to a local orthodontist and his wife for $2,995,000.

listing photos and floor plan: Sotheby's International Real Estate

What would Rawls say?

Since India liberalized its economy in 1991, PPP GDP per capita has increased from about 1400 in 1992 to about 3200 in 2009 (see Penn World Tables, I am using only two significant digits because the exact numbers depend on definition).  That is 5 percent per capita per year; by any standard this is an impressive performance.  Eyes, moreover, don't lie--I have been coming to India for eight years now, and one can see living standards improving.  This is gratifying.

But in an enormously important dimension, India has not improved at all.  According to the Food and Agriculture Organization of the United Nations, the share of undernourished people in India moved from 20 percent in 1992 to 19 percent in 2008; the number of hungry rose from 177 million to 224 million. 

China has done much better, having cut the rate of hunger nearly in half over the same time period (from 18 to 10 percent), despite the fact that its GINI coefficient is higher. 

  

3031 N. Lamer in Burbank will be on the multiple listing service next week. Here are some photos.

That's what I'm talking about!  More pics are available at JudyGraff.com under "featured properties."

Rail transit and what is physically possible

I have written posts in the past that reflect my admiration for John Kain's work in transportation economics.  He is known, among other things, for training legions of students: "bus good, trains bad."

In general, buses are cheaper and much more flexible to operate than trains.  But a visit to Bangalore made me wonder if it can really thrive as a city without a metro system (which it is currently in the process of building).  Bangalore is very dense and the streets are, for the most part, very narrow.  Congestion is already terrible, and is composed mostly of auto-rickshaws, motorcycles, and scooters. The city already has many buses, that move dreadfully slowly.  To get from the airport into the business district, a distance of 40 kilometers, takes a minimum of 90 minutes.

People who know these things better than I have told me metro systems are never cost effective.  In this particular case, however, I can't help but wonder.

Jack Nicholson Lightening Aspen Real Estate Load

SELLER: Jack Nicholson
LOCATION: Aspen, CO
PRICE: $15,000,000
SIZE: 5,780 square feet, 5 bedrooms, 6 full and 2 half bathrooms

YOUR MAMAS NOTES: Three-time Oscar winning Tinseltown icon Jack Nicholson is well known both as a ladies man and for his bulging property portfolio that until recently included a near-legendary, non-contiguous 4-parcel compound above Mulholland Drive in the Beverly Hills Post Office, a small house tucked into the hills above L.A.'s Laurel Canyon he's owned since the 1970s, a 70-or-so-acre spread in the mountains above Malibu (CA), a few acres with a wee residence in the unlikely northern California town of Shasta, a 5 bedroom/3 bathroom bay front house in Kailua on the Hawaiian island of Oahu, and three separate residence in Aspen, CO.

Last September Mister Nicholson sold his Malibu property for, according to listing information, $3,500,000 and thanks to Charlie Chatterbox we've come to learn he's looking to lighten his real estate load a little more and recently hoisted his historically designated Victorian manse in Aspen, CO on the market with Rocky Mountain high asking price of $15,000,000.

A few quick clicks and clacks of the nearly worn-out beads on Your Mama's bejeweled abacus show that it's current price is a staggering 27-time more than the $550,000 property records we peeped indicated Mister Nicholson paid for the place back in January 1980.

Listing information for the house itself is slim and shows little more than it was built in 1895, remodeled in 1988, measures 5,780 square feet, and includes 5 bedrooms and 6 full and 2 half bathrooms.

We don't know barely a thing about Aspen except it's hideously expensive, insanely beautiful and popular amongst the world's richest and most famous who scoot around the picture perfect town in down coats, diamonds and Chewbacca–esque aprés-ski boots.

According to Charlie Chatterbox, Mister Nicholson's Victorian is located on the most highly desired street in the highly desired West End part of town known for it's tree-shaded streets, big ass Victorians and easy-peasy walk into the hustle-bustle of the downtown core.

Other residents in the West End area, according to Mister Chatterbox, include professional bicyclist Lance Armstrong and both of the low-profile and very rich Koch brothers. Just a few short blocks away from Mister Nicholson's nest is the (in)famous yellow Victorian where Charlie Sheen and Brooke Mueller had their Christmas Day domestic blowout in 2009.

Other home-owning Aspenites include songwriter Kevin Costner (who installed a baseball diamond on his gigantic ranch —a field of dreams, if you will), Goldie Hawn and Kurt Russell (in Snowmass), and Spanish hottie Antonio Banderas and Melanie Griffith (near Woody Creek), and lavish living songwriter Denise Rich (on Red Mountain), the woman real estate watchers surely recall who recently listed her epically-scaled New York City triplex a couple months ago for a mouth-drying $65,000,000.

listing photos: Joshua & Co.

"Green Jobs" will be real, but invisible

John Whitehead quotes Joe Romm:

Last week economist William Nordhaus slammed global warming deniersand explained that the cost of delaying action is $4 Trillion. As I wrote, Nordhaus’s blunt piece — “Why the Global Warming Skeptics Are Wrong” – is worth reading because, like most mainstream climate economists, he is no climate hawk. 

Those costs are real.  Those costs shift the supply curve for stuff in.  Those costs reduce employment.  So "Green Jobs" are largely not those building windmills and solar panels (the total number of these jobs will be small relative to the economy).  "Green Jobs" will be the jobs saved from cost reductions associated with reduced greenhouse gases.  This is why good environmental policy is also good economic policy.

(h/t Mark Thoma)

Bi-Coastal Double Whammy: Norman Jean Roy (New York City)

SELLER: Norman Jean Roy and Joanna Isobel Kelly
LOCATION: New York City, NY
PRICE: $2,275,000
SIZE: 1,604 square feet, 2 bedrooms, 2 bathrooms

YOUR MAMAS NOTES: Earlier today we discussed a 2 bedroom and 2 bathroom bungalow in Hollywood (CA) owned by hot-shot celebrity photographer Norman Jean Roy and on the market with a $1,395,000 price tag.

This afternoon we shift to New York City where a 2 bedroom and 2 bathroom condo crib owned by Mister Roy and his professional photographer wife—or ex-wife, no disrespect, we're not sure—Joanna Isobel Kelly has been on the market since the early days of 2012 when it appeared with an asking price of $2,390,000. Since then the price has dropped 5% to its current figure of $2,275,000.

Property records indicate Miz Kelly and Mister Roy only picked up the Flatiron District condo in March 2011 for $2,050,000. We'll leave the children to speculate if this quick flip is for investment purposes, represents a common case of The Real Estate Fickle, or if it's an indication of something else entirely we neither allude to nor claim to know anything about.

Listing information shows the west-facing, loft-minded condo weighs in at 1,604 square feet and includes a total of 2 bedrooms and 2 bathrooms plus a surprisingly and marvelously large-for-New-York-City combination laundry/pantry room.

The sleek, loft like condo has nearly-white hardwood floors underfoot and crisp, gallery-white walls that Your Mama adores unapologetically. A couple of exposed Corinthian columns—one in the kitchen one in the hallway near the door to the master bedroom—speak to the architectural history and dignity of the pre-war building that once housed the world's largest shoe store according to information we dug up on the interweb.

There's a wrought iron-railed Juliet balcony off the dining area that's open wide to the state-of-the-art kitchen all done up with glistening, Poggenpohl-brand white lacquer cabinets; winter white Corian-brand counter tops; a four-stool snack counter; and top-grade, Euro-style appliances including an integrated Sub-Zero fridge-freezer. We'd have better appreciated if those high-gloss cabinets went all the way to the ceiling but at least Miz Kelly and/or Mister Roy had the good sense not to stick some fake ferns or wicker baskets up in that squat space.

The current residents—who may or may not be Mister Roy and/or Miz Kelly, we don't know—utilize the second bedroom as a living room and the original living/dining space as an extra-specially spacious dining room with two full walls of high-end shelving units that hold a rafts of actual books, a few black and white photographs, and a number of knick-knacks like that gold-plated Harry Allen pig bank that we live and die for.

The master bedroom isn't humongous or even big by any standard but its relative wee-ness is partly made up for by the custom-fitted closet/dressing room that's the size of a small bedroom. Presumably both bathrooms are a sybarite's naughty dream but all we can vouch for is the long, windowless master facility complete double sinks set on floating wood cabinets and an egg-shaped soaking tub set into a niche sheathed in gleaming white tile. One-inch (or so) square pixilated grey tiles climb two walls floor-to-ceiling opposite the sinks and bathtub but switch again to all white in the good-sized (but hardly party-sized) stall shower fitted with one of those can-be-annoying rain-type shower heads.


Taxes and common charges for the condo ring up to $3,554 per month, according to listing information, and cover costs for building maintenance and amenities that include 24-7 doorman, fitness center, 3,600 square foot landscaped roof deck and—bargain shoppers and penny pinchers will appreciate—a one-block walk to both Trader Joe's and T.J.Maxx.

listing photos and floor plan: Brown Harris Stevens

Midcentury modern home for sale in Burbank coming next week!

So excited about this! Next week, I will be listing a midcentury modern home that was designed by Boyd Georgi, AIA.  In Burbank. In Burbank? Yes! Who knew?  It's a 3+3 with pool and sweeping view for $839k and I'll put more details up soon.  Check back here for pictures over the weekend, or check my website at JudyGraff.com.  Yes, the house will have its own website.  Do you think I need to create its own Facebook page too?

Bi-Coastal Double Whammy: Norman Jean Roy (Los Angeles)

SELLER: Norman Jean Roy
LOCATION: Los Angeles, CA
PRICE: $1,395,000
SIZE: 2 bedrooms, 2 bathrooms

YOUR MAMAS NOTES: Before anybody starts to stamp their feet, roll their eyes and whine like a three year old about how they ain't never heard of a "celebrity" named Norman Jean Roy give us a  moment to say a little about who this person is and why his modestly scaled (if not exactly inexpensive) and done-done-done domicile in Hollywood (CA) qualifies to appear on our little online endeavor about the real estate doings of the rich and famous.

Many if not most of the children may not instantly recognize Norman Jean Roy's name but Your Mama would fall out with flabbergast iffin all of y'all aren't familiar with at least a few bits and pieces of the bi-coastal celebrity photographer's considerable body of work. A quick perusal of the website for Mister Roy's representative(s) reveals the slender, handsome, lantern jawed, and smooth-pated professional picture taker has captured the photogenic mugs of Tinseltowners for advertising campaigns that include (but are far from limited to): Drew Barrymore for Neiman Marcus; Demi Moore for Ann Taylor; George Clooney for Omega watches; and Halle Berry for Revlon.

Mister Roy's resumé also shows he's much in demand—mostly by Condé Nast, it seems—to shoot stars for the covers for high-gloss publications. He's photographed Lindsay Lohan, Sandra Bullock and Cher for Vanity Fair, Armie Hammer, Channing Tatum and Zac Efron for Details, Eminem for Rolling Stone, Kim Kardashian, Blake Lively and Eva Longoria for Allure, and Liv Tyler for Harper's Bazaar, just to name a few. He was selected—and no doubt paid boo-coo bucks—to shoot the triple-wide fold-out cover of the annual Hollywood Issue of Vanity Fair in 2011 on which appeared (among others) Ryan Reynolds, Jake Gyllenhaal, Anne Hathaway, James Franco, a barely dressed Olivia Wilde and a simply flaw-less Mila Kunis.

Mister Roy is—or maybe was, we're not sure to be honest—married to fellow photographer Joanna Isobel Kelly and property records (and their own bios) reveal they maintained residences in both Los Angeles and New York City. Property records show in August 2005 Mister Roy forked over $1,230,000 to acquire a 1920s bungalow in a leafy and upscale pocket of Hollywood. The property was purchased in only his name but her name pops up on some of the deeds and documents we peeped at in the public property records.

Anyhoo, the fully-renovated, meticulously-maintained and high-hedged house in the Hollywood, CA neighborhood sometimes referred to as Sunset Square has popped up on to the market with an asking price of $1,395,000.

The painstakingly landscaped front yard, completely hidden from the street by a tall hedge and driveway gate, has been almost completely graveled over to provide additional off-street parking besides what's available along the narrow, paver-tiled driveway that runs up alongside the house. This graveling might seem like a ludicrous notion to some people, but it's really rather practical and has all been handled by the landscape designer(s) in the most dignified manner that includes a birch tree-backed, trough-like fountain/water feature.

A small, vine-draped front porch provides shelter from rain and sun and opens into the L-shaped and hardwood floored, open plan living/dining/lounging area that includes a not especially formal "formal" living room with fireplace at one end and a cozy den with a bank of French doors that lead out to the backyard entertainments and delights on the other. In between, the windowless (and also not very formal) dining room borrows its natural light from the wide banks of paned windows and  French doors in both the living room and den. Artificial light in the dining room comes courtesy of a George Nelson bubble pendant fixture that hangs sparingly over a wonderfully gigantic, dinner party-friendly Parson's table surrounded by ten matching molded plastic Eames side chairs with wooden tower bases.

An home office area—a potential third bedroom, according to listing information—tucks into a tight corner between the dining room and the light, bright and almost entirely white galley kitchen outfitted with snow white, Shaker-style cabinets with glass-fronted uppers, some sort of sand-colored tumbled stone counter tops, and medium-grade stainless steel appliances. We do like the chopping block center island even though it seems a bit in the way but we are irrationally fearful of that pot rack dangling from ceiling in the center of the room and laden with pots and pans that look eager as beavers to bang somebody upside the head or get snarled up in some hair-hopping queen's extra-high beehive.

Current listing information does not indicate the size of the house—the Los Angeles County Tax Man pegs it at 1,805—but does reveal there are two bedrooms and 2 bathrooms. The master suite at the rear of the residence offers "plenty of closets" and an attached "bespoke" bathroom with tumbled Carrara marble tiled steam shower. The second bedroom has a view of the front garden/graveled motor court.

The kitchen, den and master bedroom all open on to a trellis-shaded dining deck with handy-dandy, built-in outdoor kitchen/barbecue set up. The deck steps down to the paver-stone driveway that runs up along one side of the house to a detached 2-car garage at the back of the property as well as down to the backyard fun-in-the-sun space with tanning terrace and plunge-sized saltwater swimming pool set simply into a flat grass pad with just the slimmest of stone coping.

Listing information indicates the home and swimming pool are powered by a solar system and indeed several banks of solar panels can be seen in at least one listing photos mounted on the roof.

Mister Roy's soon-to-be ex-residence sits in the very same neck of the Hollywood woods as homes owned by a variety of Showbizzers who include Academy Award-winning filmmaker Dustin Lance Black (purchased fall 2010 for $1,455,000); Stylish actress Selma Blair (listed earlier this year for $1,780,000 and no longer on the open market); Nip/Tuck actor Dylan Walsh (listed in late January for $1,425,000 and is now deep in escrow); The inestimable actress and activist Sally Struthers (purchased February 1991 for $762,500); Reality queen turned clothing designer Lauren Conrad (recently listed for $2,100,000 and currently in escrow); Agent to the stars Simon Halls (sold August 2010 for $2,000,000, not long before he and man-mate Matt Bomer bought a big house in the historic Hancock Park 'hood).

Stay tuned for the 411 on the (also currently on the market) New York City apartment Mister Roy and Miz Kelly bought in March 2011 and flipped back on the market less than a year later.

listing photos: Sotheby's International Realty / Los Feliz