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NEW LISTINGS | |
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904 Hartford Way,
Beverly Hills
$11,500,000
Mediterrannean estate located just beyond the Beverly Hills Hotel. This 6BD/ 6.5 BA home is a private oasis surrounded by mature trees & lush greenery.
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9817 Hythe Ct.
BHPO
$2,950,000
At the end of a cul-de-sac lies this elegant, 6BD/6.5BA, gated and spacious home with fantastic indoor/outdoor flow.
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9915 Anthony Pl.
Beverly Hills Post Office
$1,749,000
This gated 3BD/ 2.5BA features a beautiful open floor plan that basks in natural light.
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12522 Sarah St.,
Studio City
$949,000
Charming, single level home on one of the prettiest streets in Studio City. This beautiful 3BD/ 2.5BA home has been completely updated.
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2333 Coldwater Canyon Dr.,
Beverly Hills Post Office
$1,590,000
Beautiful light & bright 4BD/ 3.5BA home featuring a lovely spacious living room!
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12346 Tiara St.,
Valley Village
$799,000
Charming 3BD/2BA with open kitchen, country tile & fireplace in your open dining room. Completely private yard with huge pool!
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1255 Hilldale Ave.,
Sunset Strip
$12,950/ month
Exquisite 4BD/ 5.5 BA architectural w/ amazing views of the city and beyond.
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9915 Anthony Pl.,
Beverly Hills Post Office
$6,000/ month
This gated 3BD/ 2.5BA features a beautiful open floor plan that basks in natural light.
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806 Broom Way,
Brentwood
$5,975/ month
This light and bright contemporary, 5BD/ 6BA, home features a uniquely flexible floorplan and large open living spaces. |
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11740 Sunset Blvd. #30,
Brentwood
$4,900
Gorgeous 2BD/ 3BA designer condo in one of Brentwood's most elegant buildings with hardwood floors throughout.
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9809 Easton Dr.,
Beverly Hills Post Office
$4,400
This charming, 2BD/ 2.5BA canyon Cape Cod is in a great location at the end of a cul-de-sac & easily accessible from both the Westside and the Valley.
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IN ESCROW
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9817 Hythe Ct.
BHPO
$2,950,000
149 Alta Vista,
West L.A.
$1,469,000
65 Stagecoach Rd.,
Bell Canyon
$1,095,000
12522 Sarah St.,
Studio City
$949,000
118 Clark Dr. #304,
West Hollywood
$849,000
28757 Aries St.,
Agoura Hills
$799,000
3810 Multiview,
Hollywood Hills- East
$699,000
720 Martel Ave.,
West Hollywood
$699,000
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JUST SOLD
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5603 Sloan Pl.,
Calabasas
$3,495,000
608 Foothill Rd.,
Beverly Hills
$2,990,000
1088 Hillcrest Rd.,
Trousdale
$2,995,000
1230 N. Sweetzer Rd. #104,
West Hollywood
$239,900
611 N. Alpine Dr.,
Beverly Hills
Price Upon Request
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COMING SOON
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7000 Sedan Ave.,
West Hills
Price Upon Request |
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GREETINGS FROM SALLY
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November 21, 2011
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As many of you know, I have recently returned from a 2-week intensive business trip to China. In the past year, I have seen increasing numbers of foreign buyers for my ultra luxury properties and Chinese buyers in particular. We are all noticing some definite shifts in the market and this includes increased interest from overseas investors. Following these shifts has led me on an educational and unforgettable journey. I have delved into this new emerging market place and have come away with some priceless insights. I have been very fortunate with the people I have met and the connections that I have made on this trip and I am so grateful to all of those people who assisted in this process.
The trip included press conferences with Chinese media that have resulted in a huge outpouring of media coverage in China, presentations with Chinese investors, managers, and real estate professionals, and an invitation to the Hurun Report Gala (the equivilent of the Forbes Billionaires List in China) where I had the opportunity to meet with China's wealthiest and most influential citizens as well as speak on a panel for over 800 people.
According to the National Association of Realtors, overseas buyers coming from China have increased from 5% to 9% of International sales from 2009 to present. Because of the unique climate in China today, there is an inordinate number of extremely wealthy citizens who have come into new money very quickly. A rapidly expanding economy and an uncertain political future have created an environment where many people are looking to invest outside of the country.
Chinese buyers have been looking to Europe, Canada, and the United States as safe and profitable countries to invest their money. One of the most important factors for Chinese buyers is education. They are looking to move their money out of the country while also securing a future for their families. With many top ranked universities and public and private schools, Los Angeles is an ideal location for Chinese buyers. Also, geographically Los Angeles is more desirable simply because it is easier to get to from China.
I strongly believe that we will continue to see interest from overseas buyers and especially from the Chinese. This entire experience has been incredibly eye opening. I have learned so much about the Chinese culture and the way business is conducted. I was able to meet with and talk to people involved in the Chinese business and real estate communities and gain insight into the motivations and needs of Chinese clients looking to purchase overseas. Thank you again to all of those who helped in this process and I know that there will be much more to come!
Best wishes,
Panel Presentation- Hurun Report
Presentation to Managers & Real Estate Professionals
A photo of myself with Rupert Hoogewerf, the founder and publisher of the Hurun Report- also quoted in the WSJ article below
More Photos
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CHINA'S CONSUMERS HAVE INCREASED DESIRE FOR AMERICAN LUXURY PROPERTIES | |
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XINHUA AGENCY (Translated)
On October 18, a senior agent with Coldwell Banker Previews International, Sally Forster Jones, conducted a luxury real estate investment strategy media briefing with China's leading local media at the China World Hotel. She highlighted that discounted US real estate prices coupled with the weakening of the US dollar has led to a surge in interest in purchasing US luxury property from the Asian region in general, and from the Chinese market in particular.
According to her presentation, luxury home sales in the US$5 million to US$10 million range in Los Angeles have been up or holding steady in the past years. Howeverfor luxury homes listed US$20 million or above, have experienced an increase. For example, nine luxury properties worth US$20 million or above have been sold so far this year, compared with four last year. Ms. Jones also pointed out that about 75 percent of the people who are looking at "super luxury homes" for US$20 million or more are now coming from countries such as China, Indonesia, South Korea and Russian. The underlying pull factors for luxury property investment in the area include: 1) prices in the Los Angeles real estate market are down; 2) luxury homes in Los Angeles are currently a bargain compared to many other international cities where prices have skyrocketed; 3) a weak dollar makes investing in the United States very affordable currently; 4) top rated public and private schools etc.
According to Ms. Jones, over the past few months she has experienced and observed a strong overseas presence among luxury buyers, and China in particular. According to her statistics, Chinese buyers account for 9% of foreign purchases in the yearly period ending March 2011. This number is up 5% from 2009.The majority of upper end potential Chinese buyers that she has engaged with hold muchinterested in US$5 million and above properties. These buyers have come mostly from major to medium sized cities such as Beijing, and Shanghai etc. While the main purpose for their purchasing property in Los Angeles is education.
Commenting on her business trip in China, Sally Forster Jones said: "I have personally experienced a surge in interest in super luxury homes, US$20 million and above, from China in particular, and Asia in general. The time for investment in luxury properties in the Los Angeles area could not be more opportune than now as the homes are available at a significant discount. We are witnessing an improvement in the market however, so these discounts will not last forever."
Specialized in luxury real estate in the Greater Los Angeles area, including Beverly Hills, Bel Air and Malibu, Ms. Jones is widely recognized as one of the best known luxury property specialists. She made US real estate headlines this year when she co-brokered the highest listed US property in history at US$150 million - the Spelling Manor. Sally Forster Jones has achieved more than US$1 billion in real estate sales over the past decade and has averaged over $120 million per year in sales during that time, making her one of the most successful real estate agents in the nation.
View Original Chinese Article
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INCREASINGLY CHINA'S WEALTHY CHOOSE TO INVEST IN USA PROPERTIES | |
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CHINA SECURITIES JOURNAL (Translated)
Sally Forster Jones, a top real estate agent with Coldwell Banker Previews International, has been focusing especially on luxury property in the Greater Los Angeles area for more than 30 years. What's more, she is widely considered an authority on the U.S. real estate luxury market and has been featured as an expert in the leading U.S. media. Over the past several months she has observed a strong overseas presence among luxury buyers, China in particular.
Sally Forster Jones has achieved more than US$1 billion in real estate sales over the past decade. What's more, she made U.S. real estate headlines this year when she co-brokered the highest listed U.S. property in history at US$150 million - the Spelling Manor.
Recently, Ms. Jones shared the latest information of the property market in the US and Greater Los Angeles area during her first China business trip. According to the statistics, Chinese buyers account for 9% of foreign purchases in the yearly period ending March 2011. This number is up 5% from 2009 (NAR 2011 Profile of International Home Buying Activity), and the trend is set to continue to increase. Of late she has received many potential buyers and property buying groups from China. These buyers mostly come from major to medium sized cities such as Beijing and Shanghai etc. She further noted:"The scale of buying groups is surprising. Sometimes one group will include as many as 15 people. They mainly target on US$5 million plus properties." Location is their priority consideration, they prefer new completed projects in general. What's worth to mention, most of them will chose to pay cash instead of a mortgage loan."
Basic reasons for people to purchase property in Los Angeles include: 1) a weak dollar makes investing in the United States very affordable currently; 2) top rated public and private schools, for children's education; 3) beautiful weather - sunny 186 days a year etc.
Within luxury real estate, more people would choose to purchase condos. As an example Ms. Jones mentioneda 90 square meter apartment developed by the Ritz-Carlton Hotel Group with the best location whichwill only cost US$1 million in total.
There are no extra costs for Chinese people wishing to buy property in the USA compared with local Americans. Los Angeles' property tax is 1% of the property's assessed value, plus bonded indebtedness and direct assessment taxes, approximately a total of 1.25% of the home's assessed value.
Ms. Jones said: "Though the property market is currently available at a significant discount, we are witnessing an improvement in the market, so these discounts will not last forever." Meanwhile, she also noted the price has a close relationship with location. At the moment, China is not the biggest international buyer in the United States, while Canada lists No.1, followed by Mexico, China, Britain and India. However, the number of Chinese buyer is rising. So far this year she has sold two US$20 million plus properties successfully. None of the buyers were Chinese.
When the owner wishes to sell their properties, they need to pay capital gains tax. The percentage will be decided based on the profit. Generally speaking the tax rate is 15% by Federal Government stipulation.
View Original Chinese Article
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AMERICAN SUPER REAL ESTATE AGENT "SEEKS GOLD" IN CHINA | |
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VIDEO.CAIXIN
Voice-Over
At present, the slowdown of transactions in the domestic real estate market hasn't made a negative impact on the overseas property agent's great expectations. On October 18, a top real estate agent with Coldwell Banker Previews International, Sally Forster Jones, started her first business trip to China. She has both represented celebrities or properties that are affiliated with celebrities from the past such as Arnold Schwarzenegger and Michael Jackson etc. Within her 30 years career Sally Forster Jones has achieved more than $1 Billion in real estate sales. She now has interest in the China market.
Sally Forster Jones
Chinese buyers account for 9% of foreign purchases in the yearly period ending March 2011. This number is up from 5% in 2009.
Voice-Over
According to Ms. Sally, the time for investment in luxury properties in the Los Angeles area could not be more opportune than now as the homes are available at a significant discount. They are witnessing an improvement in the market however, so these discounts will not last forever. What's more, the total number of available properties is decreasing. The most important consideration for Chinese buyers include: location, function as well as education etc. Furthermore, the discounted US real estate prices coupled with the weakening of the US dollar has led to a surge in interest in purchasing US luxury property. Recently she has received many potential buyers and property buying groups from China. These buyers mostly come from major to medium sized cities such as Beijing and Shanghai etc. They mainly target US$5 to US$8 million properties.
Sally Forster Jones
What's worth to mention, most of them will chose to pay cash instead of a mortgage loan. For example, the property which listed US$5 million up, 62% buyers will complete the purchase in cash. Most international buyers will also choose to pay in cash.
Voice-Over
Sally also noted, compared with luxury houses, more people would prefer Condo's instead. Sally further stressed Chinese buyers will take into account factors such as Location and "Fengshui" etc. when they plan on purchasing property. In the USA agentsare required to disclose all property information to their customers.
Watch Original Video
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MANY RICH CHINESE CONSIDER LEAVING | |
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WSJ
BEIJING-More than half of China's millionaires are either considering emigrating or have already taken steps to do so, according to a survey that builds on similar findings earlier this year, highlighting worries among the business elite about their quality of life and financial prospects, despite the country's fast-paced growth.
The U.S. is the most popular emigration destination, according to the survey of 980 Chinese people with assets of more than 10 million yuan ($1.6 million) published on Saturday by Bank of China and wealth researcher Hurun Report.
While growth has slowed, China's economic performance is still the envy of the Western world: It registered annual gross domestic product growth of 9.1% in the third quarter, and the International Monetary Fund has forecast growth of 9.5% for all of 2011.
Concerns are mounting, however, that China's growth could be derailed by a raft of problems, including high inflation, a bubbly real-estate sector and a sharp slowdown in external demand.
Many Chinese who have profited most from the country's growth also express increasing concerns in private about social issues such as China's one-child policy, food safety, pollution, corruption, poor schooling, and a weak legal system.
Rupert Hoogewerf, the founder and publisher of Hurun Report, said the most common reason cited by respondents who were emigrating was their children's education, followed by a desire for better medical treatment, and the fear of pollution in China.
"There's also an element of insurance being taken out here," he said, citing concerns about the economic and political environment.
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