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The
first quarter of 1999 showed a remarkable surge in Estate properties
sales. There were 21 sales which closed over $5 million and an overall
increase of 34% in volume sales. Last year at this time, there were
only 11 sales over $5 million. The buyers who bought these properties
were a mix of entertainment related people and internet stock company
owners who have become incredibly rich in the last year. There were
landmark sales in all areas. Pasadena had an 11,000 square foot house
sell for $3.9 million making it one of the highest sales there. Bel Air
and Beverly Hills have had two major land sales this year, both over
$10 million. Brentwood and Pacific Palisades, the latter having a high
number of Celebrity homes have experience enormous growth. In terms of
what buyers want in a home, newer "done" houses seem to be
selling faster, however, with the right Marketing Plan any home will
sell. Call me for details. Also, call me for latest mortgage rate
information. For a nominal fee I can mail you a customized comparable
sales sheet compiled from my well known "List."
Hot Tip for Sellers: Get your home in tip top shape before
putting it on the market. Paint, clean carpets and if necessary,
re-landscape. These are inexpensive but profitable improvements.
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