Perfectly framed breathtaking ocean, vineyard, and treetop views envelop this stunning gated home on a lushly landscaped 1.2 acres. Located on one of the most exclusive 24 hour guard gated streets in the Pacific Palisades and just minutes to the new Palisades Village, this private six-bedroom home is surrounded by sprawling lawns, a gorgeous pool, terraced gardens, citrus trees, children’s play yard, and numerous areas to sit and entertain friends and family. An abundance of natural light, high ceilings, a gourmet chef’s kitchen, and screening room create an incredible home that rarely becomes available.

Address: 16388 Shadow Mountain Dr, Pacific Palisades, CA 90272

Price: $16,900,000

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One of the best view properties recently sold in the Pacific Palisades. Unobstructed city light and ocean views on over 18,000 sf of land. Fantastic opportunity awaits for someone to remodel the existing structure, keep as-is, and/or build new. Located near the new Palisades Village, Bel Air Bay Club, and Downtown Santa Monica.

Address: Pacific Palisades

Price: Recently Sold

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A long winding drive over a quaint wooden bridge leads to a fashionably chic "Swedish Summerhouse" in a secluded, wooded setting. This astonishingly beautiful home will take your breath away! Lovingly restored with well-curated design: hand-plastered walls, French oak plank floors, stunning architectural elements, it is stylish and hip. Beautiful sun-drenched rooms, refined library with antique fireplace, exquisite living room with another antique fireplace, both have tall sash windows with views to the woods beyond. Sensational kitchen with state-of-the-art appliances and sunny dine-in area. Great room with fireplace and high ceilings, is the center of a busy family's activities, or the commodious setting for a casual dinner party. Private rear terraces invite sun-bathing and al fresco dining with expansive lawn and sparkling pool beyond. The enthralling beauty of this home invites all who enter to live life at its fullest. A dazzling yet dreamy refuge. The ultimate LA escape.

Address: 320 S. Canyon View, L.A., CA 90049

Price: $4,750,000

Photos courtesy of Lisa Optican 

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Photo courtesy of Fiora Aston

Luxury real estate is an everchanging market, especially in Southern California. Whether homebuyers are seeking modern estates, oceanfront properties, or an excess amount of land, there is one common quality prospective buyers are seeking in California: location. Haute Residence sat down with five of the top realtors in SoCal to discuss why this destination area is attracting prospective buyers.

Homeowners across the globe are weighing the pros and cons of choosing to live in destination areas for many specific reasons. However, the three top qualities prospects are seeking when searching for homes in Southern California range from a discrete location to an innovative floorplan.

“I have been consistently hearing from clients that they are looking for a great/prime location; a smart floor-plan; and privacy,” said Real Estate Agent, Lisa Optican.

Aside from the prime location, prospective buyers are seeking SoCal for reasons such as the ideal weather, expanding business opportunities, and price/value.

“Compared to other top cities in the world (New York, London, Hong Kong, etc.) the value of your money and what it can get here [in Southern California] is a huge incentive compared to what you would be able to purchase in any other top city,” said Real Estate Agent, Santiago Arana.

Photo courtesy of Santiago Arana

Southern California is home to some of the most top destination cities, each area has its own charm and offers a different price rangeattracting prospective buyers for various reasons.

“Los Angeles is a vast city with a lot to offer for buyers of different tastes and life styles. The price range normally dictates where the buyers can purchase a home.The buyers that like to be in a quiet neighborhood with access to a new shopping center would choose the Pacific Palisades Village. At the same time, the Venice area with its many great restaurants, cafes and shops also attract a different set of prospectors,” said Real Estate Agent, Fiora Aston.

Areas such as Santa Monica and Malibu offer a closeness to the ocean with a nature-centered lifestyle, which is another factor why buyers are seeking SoCal.

“People move to Malibu because you get land when you buy a home here. Most Malibu homes offer privacy and great outdoor spaces to enjoy the California lifestyle,” said Real Estate Agent, Jeff Chertow.

Photo courtesy of Lisa Optican

Southern California has endless qualities which attract prospective homebuyers to this destination area. Between the warm weather, pristine oceans, and shopping destinations, SoCal has continuously matched its effortless lifestyle with living and location.

The post An Expert’s Guide On Southern California’s Luxury Real Estate Market appeared first on Haute Residence by Haute Living.

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Address: 10549 Butterfield Rd., Los Angeles, 90064

Price: $3,650,000

For more information, please contact Lisa Optican at 310-351-6646 lisa.optican@compass.com

Lisa Optican is the exclusive agent representing the Pacific Palisades, California real estate market as a member of the Haute Residence Real Estate Network. View all of her listings here.

Photos courtesy of Lisa Optican

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HR: Let’s talk a bit about your market – what trends, changes do you foresee happening in the real estate area of your market within the next 5 years?

LO: It’s pretty hard to predict what the next 5 years will bring but I think we will see the following two trends: 1) A demand for more vertical living in great areas so that the commuter time is shortened. People are tending to desire shorter commutes and increased walkability to great shops, restaurants, etc. 2) There is also a lot of desire for privacy and land due to the large population of L.A. so those properties that can deliver on both fronts will always be valuable.

HR: You have an extensive resume, how do you think your background and past experience helps you stay ahead of the competition and competitive within the market?

LO: I love the fact that I actually had a career before this one! Being a lawyer has helped me in all ways (negotiating, reviewing/drafting contracts, conflict resolution) but I have also invested and developed properties so I am able to communicate with my clients about issues and concerns that some agents are just not equipped to handle.

HR: What sets LA apart from other major cities in terms of real estate and lifestyle homeowners can find?

LO: LA offers a lifestyle that very few cities in the world can offer. We have some of the most amazing weather; we are close to the beach and the mountains, and we thrive in a variety of different industries and professions.  We also live in a huge city that has neighborhoods that appeal to all different types of personalities and needs. From those that love to be by the beach, to families who want to be close to great parks and schools, there is something for everyone in LA.

HR: What are your expectations going into the second half of 2018 and into the new year?

LO: I expect that some of the higher end listings that are asking astronomical prices are going to linger on the market and require price reductions. On the other side, there are still a lot of buyers looking to buy in LA and the inventory is still rather slim. I think we will continue to see a strong 2018 but with a number more price reductions and corrections.

HR: What advice do you give buyers in today’s real estate market?

LO: If you see something that you love and that checks all the boxes on your wish list, don’t stand by. I have had clients spend years trying to find a house because they failed to make an offer on the one that they actually loved. I also tell buyers to make sure their financials are all in order. It always helps for buyers to know exactly what they can truly afford and stay within their budget. There is nothing worse than seeing the regret of a buyer who stretched themselves to buy and then live with financial stress.

HR: What advice do you give those looking to sell property in today’s market?

LO: I am really insistent on pricing. I study the market and the competition to see where my Seller’s houses will fit in with the market. It’s a disservice to put a house on the market with an extremely high price only to let it sit on the market and become stale. I really try to educate my clients and work out a strategy that we both agree on.

HR: Is there one factor that is constant, never changes, no matter the highs and lows of the market?

LO: Everyone needs a place to live and with a population of 4 million people and counting, there is only so much space in LA.

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To make sense of all the latest trends in Los Angeles’ real estate, Haute Residence talked to Lisa Optican, Luxury Estates Director at Compass.

Prices in the Los Angeles market are soaring up, reaching record levels. Some experts say this cues to a healthy recovery from the Great Recession, others express worry of possibly another bubble. What’s your take on the rising prices?

I think the soaring prices in Los Angeles are a reflection of the shortage of inventory. Los Angeles is in a unique position because it draws all types of business and commerce, the weather is stunning, and there is a limited amount of quality homes in prime neighborhoods. I do think, however, that some of the current prices are exceedingly high and until sellers get a bit more realistic about how much the property is truly worth, those properties will sit on the market.

Some recent reports have shown a slight decline in the number of listings in 2017 and the first half of 2017 despite the increased profits from selling, showing that some sellers are not rushing to sell, and keeping prices high. What is your take on this? What could stimulate more potential sellers to list their homes?

Week after week I hear people contemplating putting their houses on the market to sell and then they ask the question, "Where am I going to go?" Sure, they can make a lot of money by selling right now, but they will also have to spend a lot of money to buy something if they want to stay in Los Angeles. Sellers have to be exposed to what else is out there for them...perhaps there is a neighborhood that they never considered; perhaps they no longer need the size of the house they are in; or the size of the lot.

What is your advice for those looking to sell their properties?

Be smart and realistic about your property. A good agent will be able to not only talk to you about the comps, but will also be able to tell you what the present-day competition is, should a seller put their house on the market. A seller has to imagine that any buyer looking at their property is also looking to see what else is available. How does this property compare to the other properties available for sale? Size of house, size of lot, location, style, amenities...all of these factors have to be weighed so a seller can accurately price their house.

What about advice to buyers, who are also saddled by spiked interest rates on mortgages?

Buyers have to be savvy about their financial picture. The best plan is to meet with financial advisors and mortgage brokers before searching for homes so that they are aware of what they can afford and what the payments will look like in the future. I always tell people that buying a house should not cause absolute financial stress. If the numbers are not working and it becomes a stretch, I recommend pausing and reconsidering a different price point.

In a slew of cities, including LA, homes, today, often sell for above the asking price. How can a buyer navigate such a dynamic to ensure his or her proposal leads to a deal?

Working with an agent who has good relationships is critical. It's also about telling a story and making your clients stand out in a personal and emotional way. Of course, a good agent will also point out the strength of the buyers finances.

What about sellers?

A seller should be very clear in what they are looking for and an experienced agent will be able to sort through the offers to evaluate the likelihood of a deal closing. Sometimes it’s not all about the highest price, sometimes the strength of the buyer is in the details of the offer.

What are your expectations about the market dynamic the second half of 2018?

I think the remainder of 2018 will continue to be strong but I do think we will start to a see a shift in the high-end luxury market as more properties $20 million and higher continue to come on the market. As it presently stands, for example, there are 48 homes on the market (not including off-market) priced at $20,000,000 and higher in Bel Air, Beverly Hills, and the Sunset Strip and more are expected to come on.

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Haute Residence chatted with Optican to learn more about her ascent into real estate from property development and law, her ability to do it all and her insights into the city she has always called home.

You were a property developer before going into real estate brokering. How did you make the switch and what insights from property development you took with you? 

Developing properties allows you to see a deal from all perspectives. I understand what developers are assessing when looking at a property and I understand the concepts and terms of construction and building because I have been through it.

I actually stopped developing properties when the market/economy took a downturn in 2008/2009 and I went back to practice law until I had children. I was always looking at properties and giving friends and family advice about purchases/sales so I decided when my oldest child turned one to make it official and get my real estate license.

How does your background as a lawyer inform your real estate career?  

It's invaluable. I have a true understanding of contracts and a comprehension of confidentiality and ethics that I find put clients at ease. Also being a litigator, I know how to do research, comprehend voluminous data quickly, and negotiate really well.

You sold Marilyn Monroe’s former residence in Brentwood, which received world-wide coverage. Tell us more about how you came to represent the property, the sale and its impact on your career?  

The Marilyn Monroe house is a special property and I was honored to represent it. I had to be incredibly strategic with how I brought that property to market (in terms of marketing, pricing, etc.).  I knew that there would be global interest in the property because I recalled when it was on the market many years earlier. I also knew that my client was very protective of the property and did not want the coverage to be salacious in any way. I created a strategy, executed it, and we had three offers within a few days. The property ultimately sold for $350,000 over the asking price.

What is the most important lesson you have learned in real estate?  

Stay positive.

What are some of your duties as a Luxury Estates Director with Compass? What are your secrets of juggling a busy schedule? 

Compass is an incredible company and collectively we are in the process of working on how to make a bigger impact in the luxury market in Los Angeles. We have some of the best resources any real estate company has and we have exceptional staff and agents.

As for juggling a busy schedule, I have no secrets at all. I have no assistants, no team, and two kids. I just have to be incredibly organized about my day!

LA is a coveted, global market with strong luxury real estate. What sets the city apart from other major destinations like New York and Miami, for instance? 

Los Angeles is an incredible destination for a multitude of reasons. Firstly, its location and terrain allow someone to be close to the ocean or up in the hills and you can have land or you can have views. If you want both, you can have that too. Secondly, Los Angeles attracts people from all industries. We are not a city that is solely dependent on one type of industry.  Any given day I will interact with clients who are in finance, fashion, entertainment, law, medicine, public relations, etc. Thirdly, the weather. Let’s not forget that we in Los Angeles are blessed with beautiful weather all year round.

You are an LA native. How has the LA real estate market changed over the years? 

The actual look of L.A. has changed dramatically in terms of all the development in the past few decades.  Bel Air, Beverly Hills, Hollywood Hills, Brentwood and the Palisades have all really changed in terms of their aesthetic. It has actually become difficult to find some of the older, large estates as most of them have been purchased and torn down to build bigger homes.

What are your expectations for this year? Are there any trends you are paying close attention to? 

I think the market will continue to be strong for the year but I do think some sellers might need to be a bit more realistic in terms of their pricing. I have noticed a lot of properties that were priced too high to begin with and are starting to either reduce or the properties are selling for way less than the ask price. I also really listen to buyers. For so many years it seemed everyone wanted a view. Now every call I get is about wanting more land.

Lisa Optican is the real estate professional exclusively representing the Pacific Palisades, California real estate market as a part of the Haute Residence real estate network. View all of her listings here.

Image courtesy of Lisa Optican

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