All the top Beverly Hills real estate agents have something in common.
We know the territory inside and out, and we can get our clients the highest sale prices for their homes.
I’m Jodi Ticknor, and I’m a real estate agent at Coldwell Banker in Beverly Hills, California.
This is part 4 of my blog post series on South Beverly Hills real estate.
If you need to catch up on the first 3 parts in the series, here are the links:
Part 1: South Beverly Hills, CA is a Thing… and it’s a good thing!
Part 2: The South Beverly Hills, CA Lifestyle… it’s fantastic!
Part 3: Restaurants, Shopping, and Hotel Bars and Spas in South Beverly Hills… oh, the places you’ll go!
Beverly Hills Real Estate Agents Guide to South Beverly Hills Real Estate
In this post, I’ll be sharing some more about South Beverly Hills real estate property types, and opportunities for home buyers, sellers, and renters.
It is my mission to be considered one of the best real estate agents in Beverly Hills, CA for the quality of services I provide to my clients as well as for the helpful information I share freely with home buyers, sellers, renters, and other Beverly Hills real estate agents.
The way I go about achieving my mission today is by creating this Beverly Hills Real Estate Agents Guide to South Beverly Hills Real Estate.
In this guide, I’ll be sharing valuable information with you about the different types of property available in South Beverly Hills, and highlighting some of the opportunities to find great real estate here at surprisingly affordable prices for Beverly Hills.
Property types and generalized price ranges in South Beverly Hills Real Estate
As I briefly covered in Part 2 of this blog post series, South Beverly Hills has some beautiful homes which are smaller than they are in the flats or in Trousdale.
South Beverly Hills homes don’t tend to have large yards or swimming pools (some do but it’s not as common below Wilshire as above Wilshire). There are also Beverly Hills condos for sale, as well as duplexes, triplexes, and quadraplexes available for sale and rental in Beverly Hills.
In other words, it’s not out of reach for a lot of home buyers to move to Beverly Hills the way they may think it is.
You don’t have to have ten million dollars to move into Beverly Hills, or even five million. In some cases you don’t even need one million for entry level Beverly Hills condos for sale.
I don’t want to quote prices here because they change all the time, but generally, broad strokes, entry level for a decent home in South Beverly Hills would be in the range of about two million to five million dollars at the time of this writing. Like I said, broad strokes, and it changes constantly.
For a condo, you can still find some two bedroom condos for sale in South Beverly Hills for under a million dollars. Depending when you are reading this, prices may have gone up significantly already, but at the time of this writing, one can still purchase a condo here for under a million dollars.
Here’s where we are in the market in South Beverly Hills right now:
Any small home is something that’s very attractive to developers. A small home is usually more of a tear-down. A developer will come in, pay a higher price, all in cash, and close in 3 days, no inspections. And then they tear it down and build something else there that kind of maximizes the lot.
So, for an entry level home buyer in the South Beverly Hills real estate market, at the time of this writing these homes are roughly going in the 2.3 to 2.4 million and up range.
As for condos, there are some that sold on Gale recently for under a million. Those generally don’t have pools or tennis courts in that type of building.
If you want a condo building with 24 hour service, with concierge and pools and valet parking, you’re gonna pay a lot of homeowner’s fees, and you’ll likely be paying between 1-2 million and up. This of course is depending on the amount of square footage, the location of the complex, etc.
There are a lot of factors in terms of pricing, which is another reason why I don’t want to be quoting prices here. By the time you are looking in the market, things will already have shifted with pricing.
When we are working together, I can be more detailed in terms of pricing and price ranges based on the latest available information at the time.
Disclaimer: All of the price ranges in this blog post are generalized and do not represent a price quote or estimate.
For this blog post, I want to give you generalized, broad strokes for pricing only for illustrative purposes, so you can get a basic idea about the general value of different property types in South Beverly Hills real estate.
If you’re looking for an entry-level condo in South Beverly Hills, I think to find a nice one you’ve gotta be in like the 1.5 million dollar range at the time of this writing.
Again, don’t quote me on pricing, I have to keep saying this because the Beverly Hills real estate market is hot!
Real estate prices go up and up and almost never go down in Beverly Hills, CA. That’s why I keep saying “at the time of this writing” and using words like “generalized” and “broad strokes.” Got it? Great!
Low Interest Rates Make Homes More Affordable Now
Taking it a step further from above, interest rates are very low right now, so people can afford more than they think.
If your debt-to-income ratio is good, you can get a very good rate on a loan, and then you can actually afford more of a loan, because the monthly payments will be lower for a higher loan amount when interest rates are low like they are at the time of this writing.
If you drive in the flats which are north of Santa Monica Blvd, you’ll see the kind of development that’s going on in the flats of Beverly Hills. There’s a lot of construction and remodeling, and a lot of commercial development happening right now.
This is going to give the city of Beverly Hills even more exposure in the coming years as the development and construction continues.
The new developments and construction may have an impact on the value of real estate, it could push prices up even higher.
The bulk of the buyers we see at the high end are mostly national buyers from other parts of the country, with a sprinkling of foreign buyers.
Property Values in Beverly Hills, CA vs Surrounding Areas
One thing people should know is property values in Beverly Hills could be equivalent to Pacific Palisades, Santa Monica, or Bel Air.
What you can get in Beverly Hills — including a school district that’s highly distinguished — is a home that is affordable in comparison to the other areas mentioned in this paragraph.
In other words, you can purchase a beautiful home in Pacific Palisades, Santa Monica, or Bel Air and still have to send your kids to expensive private schools. This effectively makes Beverly Hills more affordable.
Next Up: Client Case Study
In my next post for this series, I’ll be sharing a client case study with you to demonstrate how I get my clients the highest possible selling price when they want to sell their home.