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. Coldwell Banker has just inaugurated a new Marketing Plan called "Expect More." 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.