Historic Abode in Carthay Circle | Los Angeles, California |

In the heart of Los Angeles’s iconic Carthay Circle, located on a comfortable, charming, quiet one-way street, is an architectural beauty; designed in the spirit of the great Spanish Revival. Travel back in time, to a courtyard filled with natural light, all the while enjoying the historic elegance and powerful craftsmanship of your home. Exposed trusses, hardwood floors, and a vaulted ceiling showcase unforgettable character and style. A two-car garage with an attached guest house adds additional value to this residence. This location allows easy access to Museum Row, Beverly Hills, and The Grove. If going green is your style, find mindful transportation options nearby; including the new Metro Purple Line Extension.

3 Bedrooms | 2 Bathrooms | 2,124 SF | Offered at $1,395,000

For more information or to schedule your own private tour, contact Marc Anthony directly at (323)524-8330.

You may also visit the Coldwell Banker website or schedule your showing online at MarcAnthony.Co

What is California Proposition 10, Local Rent Control Initiative (2018)

What is California Proposition 10?

Proposition 10 is an initiated state statute that would repeal the Costa-Hawkins Rental Housing Act (Costa-Hawkins), thus allowing counties and cities to adopt rent control ordinances that regulate how much landlords can charge tenants for any type of rental housing. Proposition 10 would also state that a local government’s rent control ordinance shall not abridge a fair rate of return for landlords.^[1]

What is the Costa-Hawkins Rental Housing Act?

Costa-Hawkins is a state statute that limits the use of rent control in California. Costa-Hawkins provides that cities cannot enact rent control on (a) housing first occupied after February 1, 1995, and (b) housing units where the title is separate from connected units, such as condominiums and townhouses. Costa-Hawkins also provided that landlords have a right to increase rent prices to market rates when a tenant moves out. Prior to the enactment of Costa-Hawkins, local governments were permitted to enact rent control, provided that landlords would receive just and reasonable returns on their rental properties. The California State Legislature passed Costa-Hawkins in 1995.^[9][10][11]

What does the political landscape surrounding housing look like in California?

Candidates in the 2018 gubernatorial election have proposed plans to increase housing in California. Gavin Newsom (D) called for “a Marshall Plan for affordable housing,” while John Cox (R) said that some development regulations need to be eliminated to incentivize construction and decrease costs.^[12] Neither Newsom nor Cox, however, support a full repeal of Costa-Hawkins. Newsom said he was open to fewer restrictions on rent control, but that outright repeal would “have unintended consequences on housing production that could be profoundly problematic.” Cox stated, “I don’t believe rent control works.”^[13] The California Democratic Party’s executive committee endorsed Proposition 10, while the California Republican Party’s leadership decided to oppose the ballot initiative. Amy Schur, campaign director for the Alliance for Community Empowerment (ACCE), responded to opponents who said that decreasing rents requires more housing, not rent control. She said, “That [building] is slow and expensive. In the meantime, the only policy step that will address the severe displacement crisis in the short term is the expansion of reasonable rent control.”^[14]

The state legislature had also looked at rent control in 2018. Rep. Richard Bloom (D-50) introduced a bill to repeal Costa-Hawkins. The Assembly Housing and Community Development Committee rejected the bill because the committee’s two Republicans voted against passage and two Democrats abstained from voting. Three Democrats voted to recommend the bill, but four votes were required.^[15] Rep. David Chiu (D-17), the committee’s chairman, said, “… this will not be the end of the conversation. It’s just the beginning.”^[16]

Who is behind the campaigns surrounding the ballot initiative?

Note: The campaign finance information on this page is according to the most recent scheduled reports, which covered through September 22, 2018, and interim reports available as of October 21, 2018. The deadline for the next scheduled reports is October 25, 2018.

The campaigns surrounding Proposition 10 had raised a combined $89.40 million. Opponents of Proposition 10 had out-raised the support campaign 2.5-to-1.

The Coalition for Affordable Housing is leading the campaign in support of the initiative. The AIDS Healthcare Foundation(AHF) and Alliance of Californians for Community Empowerment (ACCE) Action organized the campaign. The coalition and allied committees had raised $25.08 million, with AHF providing $22.86 million. AHF spent $48.1 million on backing ballot initiatives related to healthcare and housing in 2016 and 2017, including Los Angeles Measure S and California Proposition 61. Michael Weinstein, the founder of AHF, said his organization is interested in rent control from the perspectives of social justice and public health. “From a social justice point of view,” said Weinstein, “we are seeing mass displacement… and we feel like shelter is the most basic right and people are being deprived of that and we don’t believe that the marketplace can handle providing shelter to everyone who needs it.” He added, “From a public health point of view, we see our clients being rendered homeless or being pushed further and further out from where our healthcare centers are.”^[17]

The California Apartment Association (CAA) and the California Rental Housing Association (CalRHA) each organized a PAC to oppose Proposition 10. An additional three PACs formed to oppose the ballot initiative. Together, the five committees had raised a combined $64.32 million. The largest contributors included the California Association of RealtorsIssues Mobolization PAC ($8.00 million), Blackstone Property Partners, L.P. and affiliated holdings ($5.00 million), and Western National Group CEO Michael K. Hayde ($4.76 million). Both Tom Bannon, CEO of CAA, and Larry Cannizzaro, president of CalRHA, said their groups’ opposition is about private investment in rental housing, among other issues. Proposition 10, according to Bannon and Cannizzaro, would make the state’s housing crisis worse because rent control would discourage investment.^[18][19]

For More Information and the citation of this article click here

California Proposition 5, Property Tax Transfer Initiative (2018)

What changes would this ballot initiative make to state law?

Beginning on January 1, 2019, Proposition 5 would allow homebuyers who are age 55 or older or severely disabled to transfer the tax-assessed value from their prior home to their new home, no matter (a) the new home’s market value; (b) the new home’s location in the state; or (c) the number of moves.^[1] As of 2018, homebuyers over 55 years of age were eligible to transfer their tax assessments from their prior home to their new home if the new home’s market value is equal to or less than the prior home’s value and once in their lifetimes. Furthermore, counties, not the state, decide whether tax assessments can be transferred across county lines.^[2]

If the new home is a different value than the prior home, the initiative would allow for an adjusted value between the old and new values.^[1] If the new home has a higher market value then the prior home, the assessed value would be adjusted upward. If the new home has a lower market value then the prior home, the assessed value would be adjusted downward. The formulas for the adjustments would as follows:^[2]

Upward adjustment: (assessed value of their prior home) + [(the new home’s market value) – (the prior home’s market value)]

Example: An individual sold her house for $500,000. The house had a tax-assessed value of $75,000. She bought a new house for $800,000. The tax-assessed value of the new house would be ($75,000) + [($800,000)-($500,000)] = $375,000.

Downward adjustment: (assessed value of their prior home) × [(the new home’s market value) ÷ (the prior home’s market value)]

Example: An individual sold his house for $500,000. The house had a tax-assessed value of $75,000. He bought a new house for $300,000. The tax-assessed value of the new house would be ($75,000) × [($300,000) ÷ ($500,000)] = $45,000.

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Santa Monica ballot measure would make it tougher to develop taller buildings

Developing tall and dense buildings in Santa Monica will get tougher if voters approve a Nov. 6 local ballot measure.

While many will be fixed on the outcome of the statewide Proposition 10 rent control measure, Santa Monica’s referendum could have an immiediate impact on development.

Called Measure SM, it would require developers who want to exceed height and density limits in the seaside city to get the support of five of seven City Council members, instead of just four, according to Curbed.

Santa Monica is already a tough place to develop large projects. The city approvals process can drag on, like it has at the Miramar Hotel, which the owner has been trying to redevelop for five years. 

Many previous high-profile projects in Santa Monica have usually received the support earned of just four council members, said Council member Kevin McKeown, who co-sponsored the measure and is seeking re-election.

If Measure SM is approved, those same projects would have been rejected.

“Measure SM eliminates those squeakers that previously got through on the barest majority vote,” he said, according to Curbed. “It is significantly more difficult for a developer to earn that fifth vote to go beyond our adopted plans.”

The measure has exceptions for 100 percent affordable projects and projects on school district properties.

Developments that have already been proposed would not be affected. [Curbed] – Dennis Lynch 

Beverly Hills Event | October 14, 2018

Join Marc Anthony at the top of San Ysidro on Summitridge Drive Sunday, October 14, 2018, to discuss the local real estate market and experience a tranquil view.

The property is situated in an extremely desirable area near Beverly Park and Highridge Drive located at 2175 Summitridge Drive.

Live above the stars directly next to Beverly Park, home to the world’s most famous celebrities where properties range from 30 to 165 million dollars. Enjoy world-class five-star luxury living with awe-inspiring 360° panoramic views in a very private setting.

The grand entrance with dramatic spiral staircase leads to the wood-beamed great room and entertainment deck with infinity edge pool, spa, and fire pit. The huge entertainment center with wine cellar, massage area, and steam room is directly adjacent to the 8-car garage finished to showcase and pamper your automobile collection. The incredible master suite with lavish bathroom, balcony with outdoor fireplace and envious closet with private dressing room will delight the most discerning buyer and the state-of-the-art Control 4 home automation system, 5 zone climate control and elevator provide next level conveniences.

RSVP to realmarcanthonydavila@gmail.com to be entered to win a special holiday gift this season.

Contact Marc Anthony Davila at MarcAnthony.Co for guidance on any real estate situation or to view more properties for sale in Beverly Hills and Bel Air, California.

Marc Anthony is a licensed real estate professional, CalRE# 01992996, affiliated with Coldwell Banker Residential Brokerage in Beverly Hills, California.  The Coldwell Banker Beverly Hills North office is recognized as the #1 Coldwell Banker office in North America.  Marc Anthony always leads with integrity and puts the best interests of others before his own.

This Week’s Newest View Magazine

Greater Los Angeles

In this edition: Cover represented by Joyce Rey and Denise Hamilton for $8,250,000.

» READ NOW

More about VIEW magazine!

Unmatched Regional Readership

Exclusive to Coldwell Banker Residential Brokerage, VIEW magazine is Southern California and Arizona’s largest real estate publication, with an annual distribution of over 12 million copies.

The visually engaging, full-color magazine is distributed to consumers through news publications each month, reaching hundreds of thousands of potential buyers in targeted zip codes throughout the region. A special Chinese version is translated into Mandarin and inserted into the Wall Street Journal in Beijing and Shanghai several times per year.

Downtown Los Angeles – The Heart of the City of Angels

More than 1,500 years ago, when the Tongva people established settlements in the Los Angeles basin, their main village, Yang-Na, was right in the heart of today’s Downtown Los Angeles, near City Hall. By the late 18th century, there were Spanish settlements near the river known as Rio de Nuestra Senora la Reina de los Angeles de Porciuncula (River of Our Lady Queen of the Angels of Porciuncula) and in 1781 Felipe de Neve, the Governor of Spanish California, named the Mexican settlement El Pueblo Sobre el Rio de Nuestra Señora la Reina de los Angeles del Río de Porciúncula. Before long, it was simply Los Angeles.

With a population of 141 in 1841, Los Angeles experienced its first boom in 1842 with the discovery of gold at Placerita Canyon. By 1850, the city was incorporated and California became a state. As expansion continued nearly unabated in all directions, Los Angeles became a hub of oil production, rail transportation, roads and agriculture. And with those thriving industries came a population hungry for education, entertainment, recreation and all the cultural landmarks for which the city is today renowned worldwide. By 1890, the population was 50,000; ten years later it had more than doubled and by 1910 it stood at more than 319,000. It topped a million in 1924; in 2014 the estimated population was 3.9 million.

Today, Downtown Los Angeles is a thriving and vibrant community where classic low-rise structures, such as the Library, are preserved, while dazzling new architecture attracts attention from around the world. With districts known for their cultural or merchandise history – fashion, financial, seafood, toys, gallery row, jewelry, Little Tokyo, Chinatown, and so on – Downtown is known for its museums, restaurants, performance venues and its metropolitan appeal to a growing number of residents.

Since 2000, the Downtown resident population has doubled, with 2014 estimates at 52,400 and 5,200 residential units under construction. From restored warehouses to luxury lofts, Downtown living confirms what Randy Newman said back in 1983: “I Love L.A.”

Coldwell Banker Residential Brokerage Partners with the Breeders’ Cup

Coldwell Banker Residential Brokerage has announced its partnership with the Breeders’ Cup as a corporate sponsor and host of various events from Monday, Oct. 30 through the final race Saturday, Nov. 4, at the Del Mar Racetrack. The partnership is expected to continue into the 2019 or 2020 Breeders’ Cup in San Diego. Thirty-three years and 306 Champions later, the Breeders’ Cup has charged to the front of the worldwide racing stage and transcended the sport itself. Held at Santa Anita Park in Arcadia, Calif. last year, this will be the first time the Breeders’ Cup is held in San Diego County. The two main racing events will be Friday, Nov. 3, and Saturday, Nov. 4.

“The Breeders’ Cup, like Coldwell Banker Global Luxury, is known as the epitome of luxury around the world, and we are so happy to partner with them on our home turf of San Diego,” said Jamie Duran, president of Coldwell Banker Residential Brokerage’s Orange County, Riverside County and San Diego Companies. “We are excited to be part of this amazing event and play host to the experience of both international and local travelers. There is so much San Diego has to offer, and we are ready to point them in the right direction.”

At last year’s Breeders’ Cup, more than $6 million was raised in admission alone with approximately 72,000 people in attendance. This year, that amount more than doubled with more than $15 million dollars raised in admission alone with 37,500 spots sold. The event is expected to have an approximately $60 million impact on the San Diego County economy by its completion. Approximately 70 percent of the attendees will be international travelers.

“Coldwell Banker Global Luxury and Breeders’ Cup are synonymous with being best in class in their respective industries,” said Martin Correia, a luxury property specialist affiliated with the La Jolla office of Coldwell Banker Residential Brokerage. “We are honored to be a part of such an experience.”

During the week, Coldwell Banker Residential Brokerage affiliate agents will be present at the Breeders’ Cup Hospitality Lounges in participating hotels, offering event details, answering inquiries and arranging tours of luxury homes currently on the market.

Various public events including the Best at the Barn, a food tasting event Thursday, Nov. 2, and the main Breeders’ Cup events, will be heavily attended by Coldwell Banker Residential Brokerage affiliate agents. The brokerage also will host a Friday night event in Del Mar where a new Aston Martin convertible that has never been shown in the U.S. will be unveiled and guests will enjoy food provided by Chef Brian Malarkey. Coldwell Banker Residential Brokerage will also have a presence at various other private events including the Taste of the World event at the Birch Aquarium where guests will try cuisine by various chefs invited by Chef Bobby Flay, the Jocktail event where jockeys will make cocktails, as well as the private jockeys and owners breakfasts throughout the week made by Chef Bobby Flay. Coldwell Banker Residential Brokerage also sponsored a hole at the golf tournament being hosted at Rancho Santa Fe Golf Club.

The 5 Advantages to Buying a Ranch Home

With so many choices to make during the real estate process, it can be difficult to decide which style house to choose.  The more specific your home search criteria is, the better.  Narrow down and focus on exactly what you’re looking to purchase. The ranch house is becoming more and more popular as homebuyers are planning for their future.

Here are 5 advantages to purchasing a ranch-style house this year.

• Ranch homes are cozier. Typically they’re not as large as our favorite and still popular mini-mansions, ranch homes are much more intimate.   The ranch-style became a popular design choice after World War II during suburban sprawl and then faded from popularity during the late 1970s.  The floor plans of the ranch-style homes usually have more interior partition walls that divide and define space.
• A ranch home will allow you to age in place.  Eating healthy helps slow the aging process but certainly does not reverse the aging process.  We all must face the fact that we’re not getting any younger.  Senior living communities have become a specialty for builders and ranch homes are becoming more popular among home buyers.  Ranch homes make accessibility a little bit easier and you wont have to dish out a small fortune on a brand new residential elevator.  Consider a ranch home and pay special attention to the widths of hallways and interior-exterior transitions.
• If you want a home with the most indoor-outdoor potential, consider choosing a ranch home.  Ranch homes are great for sprawling horizontally and enhance the occupants experience through open floor plans.  Small additions can be a little less intimidating.

• Ranch homes are more adaptable.  Ranch homes have potential.  You can remodel a ranch home to fit your midcentury vibe or adjust it to showcase a more modern twist.  Adding a small addition to your ranch home or repositioning the exterior landscape can help you maximize the potential of your new ranch home.
• Ranch homes are more charming.  Ranch homes are nostalgic.  Especially to the baby booming and millennial generations.  Millennials have many childhood memories exploring ranch homes.  If that’s not a good reason to own a ranch then what is?

Say goodbye to the over popular modern mini-mansions and consider a midcentury modernized ranch redesigned with a new creative flair.

204 Ashdale Place is open for public viewing Saturday, July 21 and Sunday, July 22 from 2-5 PM.  Situated in the beautiful Brentwood neighborhood of Los Angeles you’ll certainly find yourself at home and full of nostalgic memories.

Enjoy a sweeping view of Los Angeles during the day and the sparkling city lights in the evening.  Offered at $4,999,000 this ranch style home has 4 bedrooms, 5 baths, and over 3,700 square feet of living space.  Aside from the awesome views, you’ll enjoy a 40,000+ square foot lot in Brentwood, California.

To schedule your private and confidential showing contact Marc Anthony Davila

For more details about this property visit the listing details online here.

 

Take Sunset Boulevard to North Glenroy Avenue turn left on Ashdale Avenue and finally left on Ashdale Place.  East of the 405 and West of University of California, Los Angeles UCLA. End at 204 Ashdale Place, Los Angeles, California 90049.

Open Saturday, July 21 and Sunday, July 22, 2018, from 2-5 PM.

 

 

Architectural History and Unobstructed City Views – The Ennis House Lists For Sale at $23,000,000

The Ennis house is now for sale co-listed with Coldwell Banker Residential Brokerage and Hilton & Hyland.  The buyer will certainly have a tremendous appreciation for architecture and find value in the architectural significance of this property to justify the acquisition.  Known by some as the Ennis-Brown House, it is one of the most well-known architectural masterpieces of the 1920s designed by Frank Loyd Wright.

The Ennis House showcases extraordinary views from downtown Los Angeles to the Pacific Ocean and exquisite ornamentation you can get lost in.

The Ennis House is currently priced at $23,000,000 as a result of the extensive renovations completed by owner Ronald W. Burkle.  It is the last and final of four similarly designed interlocking textile block residences around Los Angeles including La Miniatura in Pasadena, The Storer Residence, and The Freeman House in the Hollywood Hills.  The textile blocks were inspired by Maya Temples and the style, therefore, referred to by some as Mayan Revival architecture.  The Ennis House can be interestingly compared and contrasted with The Aline Barnsdall Hollyhock House in Hollywood.

The interlocking concrete blocks were created from decomposed granite on site and can be explored inside and outside of the home.

Offered at $23,000,000 this work of art comes fully furnished.  Similar to many of Wright’s commissions, the furniture is thoughtfully incorporated into the design and enhances the overall experience for its occupants.

Frank Loyd Wright designed the Ennis House in 1923, it was then constructed by his son Loyd Wright in 1924.  Because of original high costs, Charles Ennis and his wife Mabel, managed the building process themselves late during construction.  After taking over they may have deviated from Wright’s original design.

The house was eventually transferred to John Nesbitt who hired Wright to renovate the property in the 1940s.  Wright converted a basement storage area into a billiards room and designed a swimming pool at the north terrace.  Views from the terraces extend unobstructed from downtown Los Angeles to the Pacific Ocean.

Not interested in purchasing at the $23,000,000 asking price?  That’s okay, Marc Anthony Davila encourages you just to make your best offer.  Before the most recent renovation, it was sold in 2011 for $4,500,000.  When it was listed in 2009, the original list price was set at $15,000,000. Huge price reductions followed and as the final price was recorded at $4,500,000.

If you would like to discuss purchasing The Ennis House with Marc Anthony Davila, be sure to ask about a possible deed restriction that allows the public to view the property for 12 days each year.

The Ennis House was included on a historic preservation list in 2005 listing it as one of America’s 11 Most Endangered Places.  Heavy rains and the Northridge earthquake may have damaged the property over the years before its most recent renovation.  The unique textile block design may have had structural instability even before its completion.

In addition to the homes great architectural history, it has been featured in many movies such as Blade Runner (1982), Rush Hour (1998), The Karate Kid Part III (1989), and many many more including Los Angeles Plays Itself (2003).

To schedule your confidential and private showing contact Marc Anthony Davila.

Marc Anthony Davila is not a structural engineer.  All opinions made in this article are not the representation of Coldwell Banker Residential Brokerage or Marc Anthony Davila.  Each buyer is advised to complete their own independent investigation when purchasing any property and consult directly with a licensed structural engineer and/or home inspector when purchasing and/or making offers on a property.

Click here for more information and to see the property profile details.

The Ennis House is offered at $23,000,000 with 4 bedroom and 3-½ baths.  Unobstructed city views from downtown Los Angeles to the Pacific Ocean.

A 5,000+ SF RESIDENCE WITH GUEST HOUSE | 35,000+ SF LOT

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For More information about any property or to find out how much your home is worth contact Marc Anthony Davila.