Friday, 15 November 2013

Traditional wisdom says that the housing market tends to cool off as we hit the fall and winter months but this year, the luxury real estate market in Los Angeles shows no sign of slowing down. In fact, Rodeo Realty, the leading independent brokerage in Southern California has found that prestige properties are selling at a rapid rate

Traditional wisdom says that the housing market tends to cool off as we hit the fall and winter months but this year, the luxury real estate market in Los Angeles shows no sign of slowing down. In fact, Rodeo Realty, the leading independent brokerage in Southern California has found that prestige properties are selling at a rapid rate.
Two of the most desirable and expensive homes in Bel Air and Beverly Hills sold last month and behind both sales was Joe Babajian of Rodeo Realty, one of the premier agents in Los Angeles. Babajian has over 25 years of industry experience, record-breaking sales and an extensive portfolio that boasts some of the most expensive homes in the world, but it's not every day he gets the chance to close on two home representing $64 million worth of real estate within the same month. "It was a great honor to represent two such iconic properties, one in Bel Air and one in Beverly Hills," said Babajian of his blockbuster sales.
Babajian represented both the buyer and seller at 730 Sarbonne Road in Bel Air. The home designed by Tim Morrison occupies a street-to-street lot and has city to ocean views. This luxury home has nine bedrooms and 14 baths including a 2,200+ square-foot master suite. Other features include a lower level with a media room and gym, staff quarters, an eight-car garage with car wash area, and a separate guest house. The grounds also feature an outdoor living room overlooking an infinity pool with head-on views of the city. This home was listed for $29 million.
Joe Babajian and fellow Rodeo Realty agent Judy Cycon also sold 1146 Tower Road in Beverly Hills. This landmark Spanish Colonial Revival estate was originally built in 1927 by architect Harry E. Werner. It was built for George and Freda Kolb and later owned by the actor James Coburn and also by a relative of the Sultan of Brunei. The eight-bedroom property underwent a painstaking restoration and remodel by the legendary architects/designers Tim Morrison and Tom Proctor. The rare combination of this prime location, the architectural integrity, the immense flat pad and the remarkable views make this one of the most distinctive properties in Beverly Hills and its sale and purchase were covered by several local publications including the Los Angeles Times. It was listed for $35 million.
Babajian predicts that the high-end real estate market will continue to remain strong as more and more buyers are attracted to Los Angeles. He has more elite properties in his portfolio and is currently showing them to interested buyers.

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