5 reasons you still need a real-estate agent

You might think buying or selling on your own will save money, but it could be more costly in the long run.

The proliferation of services that help home buyers and sellers complete their own real-estate transactions is relatively recent, and it may have you wondering whether using a real-estate agent is becoming a relic of a bygone era. While doing the work yourself can save you the significant commissions that many real-estate agents command, for many, flying solo may not be the way to go — and could end up being more costly than a commission in the long run. Buying or selling a home is a major financial and emotional undertaking. Find out why you shouldn't discard the notion of hiring an agent just yet.

1. Better access/more convenience
A real-estate agent's full-time job is to act as a liaison between buyers and sellers. This means that he or she will have easy access to all other properties listed by other agents and will know what needs to be done to get a deal together. For example, if you are looking to buy a home, a real-estate agent will track down homes that meet your criteria, get in touch with sellers' agents and make appointments for you to view the homes. If you are buying on your own, you will have to play this telephone tag yourself. This may be especially difficult if you're shopping for homes that are for sale by owner.

Similarly, if you are looking to sell your home yourself, you will have to solicit calls from interested parties, answer questions and make appointments. Keep in mind that potential buyers are likely to move on if you tend to be busy or don't respond quickly enough. Alternatively, you may find yourself making an appointment and rushing home, only to find that no one shows up.

2. Negotiating is tricky business
Many people don't like the idea of doing a real-estate deal through an agent and think that direct negotiation between buyers and sellers is more transparent and allows the parties to look after their own interests better. This is probably true — assuming that both the buyer and seller are reasonable people who are able to get along. Unfortunately, this isn't always an easy relationship.

What if you, as a buyer, like a home but despise its wood-paneled walls, shag carpet and lurid orange kitchen? If you are working with an agent, you can express your contempt for the current owner's decorating skills and rant about how much it'll cost you to upgrade the home without insulting the owner. For all you know, the owner's late mother may have lovingly chosen the décor. Your real-estate agent can convey your concerns to the seller’s agent. Acting as a messenger, the agent may be in a better position to negotiate a discount without ruffling the homeowner's feathers.

A real-estate agent can also play the “bad guy” in a transaction, preventing the bad blood between a buyer and seller that can kill a deal. Keep in mind that sellers can reject a potential buyer's offer for any reason — including just because they hate his or her guts. An agent can help by speaking for you in tough transactions and smoothing things over to keep them from getting too personal. This can put you in a better position to get the house you want. The same is true for the seller, who can benefit from a hard-nosed real-estate agent who will represent his or her interests without turning off potential buyers who want to niggle about the price.

3. Contracts can be hard to handle
If you decide to buy or sell a home, the offer-to-purchase contract is there to protect you and ensure that you are able to back out of the deal if certain conditions aren't met. For example, if you plan to buy a home with a mortgage but you fail to make financing one of the conditions of the sale — and you aren't approved for the mortgage — you can lose your deposit on the home and could even be sued by the seller for failing to fulfill your end of the contract. (Keep in mind that the details of any contract may vary based on state law.)

An experienced real-estate agent deals with the same contracts and conditions on a regular basis and is familiar with which conditions should be used, when they can be removed safely and how to use the contract to protect you, whether you're buying or selling your home.

4. Real-estate agents can't lie
Well, OK, actually they can. But because they are licensed professionals, there are more repercussions if they do than for a private buyer or seller. If you are working with a licensed real-estate agent under an agency agreement, such as a conventional, full-service commission agreement in which the agent agrees to represent you, your agent will be bound by law to a fiduciary relationship. In other words, the agent is bound by law to act in his clients' best interest, not his own.
In addition, most real-estate agents rely on referrals and repeat business to build the kind of client base they'll need to survive in the business. This means that doing what's best for their clients should be as important to them as any individual sale.
Finally, if you do find that your agent has gotten away with lying to you, you will have more avenues for recourse, such as through your agent's broker or professional association or possibly even in court if you can prove that your agent has failed to uphold his fiduciary duties.
When a buyer and seller work together directly, they can — and should — seek legal counsel, but because each is expected to act in his or her best interest, there isn't much you can do if you find out later that you've been duped about multiple offers or the home's condition. And having a lawyer on retainer any time you want to talk about potentially buying or selling a house could cost far more than an agent's commissions by the time the transaction is complete.

5.  Not everyone can save money
Many people eschew using a real-estate agent in order to save money, but keep in mind that it is unlikely that both the buyer and seller will reap the benefits of not having to pay commissions. For example, if you are selling your home on your own, you will price it based on the sale prices of other comparable properties in your area. Many of these properties will be sold with the help of an agent. This means that the seller gets to keep the percentage of the home's sale price that might otherwise be paid to the real-estate agent.
However, buyers who are looking to purchase a home sold by owners may also believe they can save some money on the home by not having an agent involved. They might even expect it and make an offer accordingly. However, unless buyer and seller agree to split the savings, they can't both save the commission.


The bottom line
While there are certainly people who are qualified to sell their own homes, taking a quick look at the long list of frequently asked questions on most “for sale by owner” websites suggests the process isn't as simple as many people assume. And when you get into a difficult situation, it can really pay to have a professional on your side

Staging Your Home For A Successful Sale

If you're selling your home, you obviously want to get it sold quickly and for the highest amount possible. One very important strategy to keep in mind is staging, which is simply the process of arranging the inside of your home so that it shows off to its full potential.

Staging plays up your home's good features, such as enhancing a great view or drawing the buyer's eye to some spectacular wood floors. It also helps to minimize some of the home's drawbacks, such as making a small bedroom look larger. But also understand that staging does not in any way mean concealing structural defects, such as hanging a picture over a water stain or putting curtains over a broken window!

Staging allows a potential buyer to visualize what can be done with the home, which is especially important with a house that's currently vacant. For example, some carefully arranged furniture in a room that would otherwise be empty can really help the buyer see the room's potential. And if you're in a neighborhood of tract houses that all look pretty much the same inside, good staging will set your home apart from the others for sale in the neighborhood.

Finally, good staging makes buyers feel at home. It lets them really imagine themselves in the kitchen with friends, or relaxing in front of the living room fire, or even working on their car in the garage.

Remove Clutter

There are several things that go into staging a home for sale, and probably the single most important one is getting rid of all the clutter. No one wants to see several days' worth of mail and newspapers on the kitchen counter, or a kid's bedroom crammed with toys and games. The same applies to the garage, basement and even the backyard storage shed.

Clutter is not just an overflowing magazine rack. It can be too many pictures on the wall, too many chairs wedged around the dining room table, or an oversized sofa that blocks the living room traffic patterns. It can be too many items of clothing crammed into a closet, or too many of grandma's dishes filling up every inch of a kitchen cabinet.

When decluttering the house, stuffing everything into the closet or in boxes in the garage is not the answer. Remember that a potential buyer is looking in every nook and cranny of the house, and an overflowing closet doesn't make much of an impression. Instead, get the clutter completely out of the house. This could be a garage sale, some donations to a local charity, or simply a trip to the landfill. If you still have items that are cluttering up the house but they are things you'll want for your next home, then rent a temporary storage space and move them there.

Let Buyers Envision Themselves There

In addition to removing the clutter to make the rooms feel more open and the closets and cabinets feel more spacious, you want to always have an eye on what things you can do to help the buyers visualize living there. For example, lots of family photos on the wall will make it hard for the buyers not to feel like they're trespassing in someone else's home.

Likewise, while you may be very proud of your religious affiliations, your choice of political ideologies, or your gun collection and the elk head on the wall, remember that not everyone shares your interests. If you can depersonalize the home to some degree, it will make it easier for potential buyers to see themselves making a life there.

Your home should also be absolutely immaculate when you have it on the market for sale. Clean the counters and the cabinets and the fixtures and the flooring and every other part of the house until it shines. Wash the windows, let in the light, and make sure that beautiful view or that inviting backyard is clearly visible when a buyer walks through. A clean house also gives potential buyers more confidence that the structure of the house has been properly maintained and cared for as well.

Hire a professional stager

It often makes good financial sense to hire a professional to do the staging for you. A professional home staging company will thoroughly understand the concepts of space and light and color, and they know how to make rooms show off to their full potential. They also don't have the same personal attachment to the home and its furnishings that you do, so they can make practical, impartial suggestions that you might otherwise overlook or simply not want to face.
The cost of professional staging varies with the size of the house and amount of work involved, but a well-staged home should sell quicker and for more money, which makes that upfront expense a wise financial investment.

       

 

A Year-Round Guide for Home Maintenance

Homeowners know the satisfying, deep pleasure of a house that's in good order—a house where appliances are working, the paint is not chipped, and that dust under the refrigerator is gone (at least temporarily).

A regular home maintenance program will keep your house fresh and clean, help prevent expensive repairs and ensure your house is as safe as possible, For a newbie, it can be a steep learning curve figuring out when to clean which filter, how often you're supposed to clean out a chimney and what, exactly, a sump pump is. Sticking to a year-round home maintenance schedule will break the tasks up and will keep you on track with repairs and upkeep. Since most of the big jobs have to be tackled one, two or four times a year, grouping task by season is a good way to create a maintenance routine.

With every season change or clean filters on the air conditioner or heater unit. Vacuum or dust indoor vents.

Clean and freshen the kitchen garbage disposal using ice cubes or small bits of lemon peel. Running a few small ice cubes through the disposal will knock debris from blades and a few small pieces of citrus peel will keep it smelling fresh. For maximum results, make ice cubes with pure lemon juice and run them though the machine.

Test fire extinguishers to check their pressure and inspect to make sure they're accessible and not broken or missing parts.

Wipe down the washing machine and clean the interior by running an empty load with a cup of bleach, a cup of white vinegar OR laundry detergent. Use the machine's hottest setting.

Test all ground-fault circuit interrupters.

Every spring and fall

Clean and repair roof gutters. Make sure downspouts are in good repair and aiming at least 2 feet away from your home's foundation.

Change smoke detector batteries.

Flush out the water heater. Remove sediment that has collected by opening the drain valve and letting water run until clear.

Wipe down refrigerator inside and out. Clean drawers and shelves with hot soapy water and dry thoroughly. Toss mystery freezer items and expired condiments. Sweep underneath and vacuum condenser coils.

Wash windows and screens.

Check drains and clear of debris. To clean a drain, pour ½ cup of baking soda down the drain, followed by a cup of white vinegar. Let it sit for 15 minutes, then rinse with a pot of boiling water.

Clean faucet aerators and shower heads. To remove mineral deposits from shower heads, detach and submerge them in white vinegar for a few hours.

Clean the inside of the dishwasher with hot soapy water and a scrub brush. Clear the drain bin of debris and rinse it off. Run the machine empty on the hottest setting with a cup of white vinegar on the top rack. (You can also put a pack of unsweetened lemonade mix in the soap cup or sprinkle a cup of baking soda on the over the bottom of the tub and run empty.)

Clean the grills and coils on air conditioning units and clear the surroundings of debris and overgrown plants.

Give your grill a thorough cleaning. Soak the grates in soapy water and scrub with steel wool. Check hoses, hinges, and knobs, and remove rust with a wire brush.

Fall

Take a walk around the exterior of the house and give it a thorough visual inspection. Look for leaks, termite damage, rodent nests, cracks in the foundation and rot. Seal cracks and gaps in siding and around windows. Repair siding where necessary. Touch up paint on exterior and trim.

Power-wash the exterior of the house.

Clear lint from dryer hose. Use a vacuum or long flexible brush.

Clean carpets and have floors re-polished or sealed.

Check electrical cords and make sure they're in good repair.

Check door and window locks, door knobs and handles and cabinet hardware. Tighten, replace or repair as needed.

Check indoor and outdoor air vents and make sure they are not blocked by debris.

Trim back trees and shrubs and make sure they aren't touching the house, roof or gutters.

Spring

Dust blinds and vacuum or wash curtains.

Replace storm windows with screens. Repair damaged screens.

Clean kitchen and bathroom exhaust fans.

Clean light fixtures and ceiling fans.

Inspect your chimney and fireplace, looking for obvious cracks or leaks. Check the chimney cap or spark arrester to make sure it's intact and free of nests or other blockage. Spring is a good time for a professional chimney cleaning because it's off-season. You'll need a cleaning every 2-3 years or after a burning a cord of wood.

Go through kitchen and bathroom cabinets and clear out expired foods, cosmetics and medications.

Check the roof for missing or damaged shingles and worn or exposed areas. Make repairs immediately to avoid messy and expensive damage.

Reseal wooden decking and outdoor furniture with UV-resistant sealer.

Test pressure relief valve on water heater.

Examine your bath and shower areas and re-caulk as needed.

Lubricate garage door springs

If your house has a sump pump, make sure there aren't any leaks and remove any debris. To test to see if it's functioning property, pour about five gallons of water into it and make sure it turns on.

Happy Yom Kippur!

5 Kitchen and Bath Remodeling Trends That Will Last

To help you get ahead of and sort out the kitchen and bathroom trends — pity the last fool to install an avocado appliance in the 1970s — HouseLogic.com went to this month's trend central, the International Builder's Show. Our takeaway: For gosh sake, enjoy your home; remodel so that you love where you live.

Still, with a couple of exceptions, these five kitchen and bath trends offer lasting value:

1. Kitchen cleanliness.

By clean, we're talking design, not germs. Kitchens are going clean, contemporary, and horizontal (open shelves, long and horizontal pulls, thick countertops). Even in a classic kitchen, go with simple, flat cabinets rather than highly carved cabinet details, says designer MaryJo Camp of Design Camp, Denver, N.C.  

Tip: This is a trend to get on board with. A simple, tidy, fresh appearance will have broad appeal if you decide to sell.

2. Color is out.

This year, colors are cycling out, Camp says, except for black and white used together. 

Tip: Practically speaking, black and white are hard to keep looking good. Black kitchens show every scratch and white cabinets show every speck of dirt.

Regardless, color is fickle; choose what's best for your space.

 

3. Dark wood is where it's at.

If you've had white cabinets, you know they show every speck of dirt, which can drive you crazy unless you have a cleaning fetish. Combine those white cabinets with another up-and-coming trend: dark wood. Or if your budget can handle the hit, go with specialty woods like mahogany or zebra wood that can make an island look like a piece of furniture.

Tip: Alternatively, you could invest your money in more kitchen storage and functionality than trendy decorative elements that might not stand the test of time.

4. Appliances that blend in.

The more open our kitchens get, the more we want them to look like the rest of the house. That's fueling a trend away from the big pro range and ginormous stainless-steel refrigerator and toward concealed, high-performance refrigerators and dishwashers. Induction cooktops, which use less electricity than electric cooktops, are growing in popularity, Camp said.

Tip: When you buy appliances, look for the Energy Star label or go even deeper on energy performance ratings with Consortium of Energy Efficiency. 

5. Ageless design gets easy.

What the Baby Boom wants, the Baby Boom gets. And Baby Boomers want to live in their homes forever. That's led manufacturers to create DIY remodeling products with built-in universal design features — like toilet paper roll holders strong enough to hold your weight as you arise from the throne.

If you wanted a no-threshold shower five years ago, you had to have it fabricated as a custom piece, said Mary Jo Peterson, a Brookfield, Conn., designer. Today, companies sell no-threshold shower kits with trench-style drains covered with grills so you can roll yourself right in.

Homes of the future

The annual Consumer Electronics Show (CES) recently wrapped up in Las Vegas, and one idea creating a big buzz was “The Connected Home.” This isn’t a particularly new idea, and it has been talked about for years at CES, but it appears as if the technology is finally catching up with the idea, and having your very own connected home is not so very far away.

These new technologies, which include such devices as voice-controlled thermostats, toothbrushes that can tell you whether or not you’re doing a good job on your teeth, and refrigerators that play music are part of a new world of web-connected devices dubbed “The Internet of Things.”

According to the Gartner research firm, by 2020, the Internet of Things will include 26 billion devices, with a market worth of $1.9 trillion.

What can the Internet of Things do for your home? Will these new devices enable your bed to make itself and leave a chocolate on your pillow? Not quite, but some of the new features are pretty handy. Here’s a roundup of some of the new and upcoming products featured at CES, to give you a better idea of what a home of the future will look like. 

Connected Appliances
A Bluetooth-enable refrigerator that allows you to listen to music in your kitchen? A washer/dryer that can be commanded to clean from afar? These are two of the new “connected home” products featured at CES.

Whirlpool® debuted a line of Smart Appliances that give you the option of checking to see that everything is running smoothly at home, even when you’re far away. There is a washer/dryer pair called the “Duet.” You can monitor energy usage and access certain settings when you’re out, but you can’t get it to suck the laundry from the floor and wash it while you’re gone. Each one runs you approximately $1,700.

The refrigerator keeps you up-to-date on temperature settings, and power outages and allows you to manage other features such as your drinking water. This retails for about $2,000.

The $949 smart dishwasher, allows you to monitor energy use and lets you know when certain parts need replacing. 

Samsung is another player in the smart home arena. The company’s platform, called "Samsung Smart Home," debuted at CES and the roll-out along with pricing is planned during the first half of the year.

The initial platform consists of three main services: Device Control, Home View, and Smart Customer Service. With Device Control you can access customized settings for all of your devices from your smartphone—while you’re out of the house—or on your Smart TV when you’re at home. You have the ability to control multiple devices at once, no matter how far you travel. The service will also allow you to use voice commands with your Galaxy Gear or Smart TV remote. You can tell your device that you're "going out," for example, and your connected lights and appliances of choice will turn off as you leave. Smart!

Robotic Vacuums
Robotic vacuums are nothing new, but now they are getting more affordable. Neato Robotics already has a robotic vacuum, but this year they’re launching one that’s more affordable to the masses. In March, you’ll be able to pick up the Neato XV Essential for $379 at Walmart.com

The iRobot Roomba has a new version out as well. It boasts 60 percent more storage space and greater cleaning capacity than the former version and retails for $699.

The company also makes a robotic pool cleaner!

A Smart Crockpot?
It doesn’t get much better than this. A slow cooker that you can control from your smart phone, so your pork ribs are falling perfectly off the bone by the time you arrive home. This is a product from Belkin that launches sometime this spring and is set to retail for $99.99.

Control Your Climate & Beyond
Trane, Herman Miller, and Nest are a sampling of companies who want to help you control the climate of your home from afar. These devices not only adjust your temperature, but look better on your wall than their old counterparts. 

Nest also made the recent leap to the connected smoke detector. The sleek, round-edged square has a pale blue light glowing at its center which acts as a motion detector night light, to help guide your way through a dark hallway. This smart smoke alarm will also alert you to any smoke or fire problems at home when you’re not there. 

A Smart Toothbrush?
The perfect gift for your kids. Now you can see if they actually brushed their teeth and if they did a thorough job! The Kolibree toothbrush claims to be the first “connected toothbrush” that improves your brushing habits. Not only does it track how often your brush your teeth (or not), it claims to know what parts of your mouth you missed or didn’t pay enough attention to.

Wifi Lightbulbs
Controlling your lights while away is another feature of the connected home. Forgot to turn on lights to scare away the burglars? Not a problem. Do it with your smartphone. 

An Intelligent Lock
Another connected home feature of note at CES was the Goji Smartlock. The lock takes a picture of visitors at your front door and can be accessed via your smartphone.

Gen Y Is Ready To Buy

 

 

Top Architecture Trends of 2014

1. Tranquility
More homeowners are seeing their homes as a place to get away from it all and relax, especially in certain rooms, particularly the bathroom. The spa bathroom is really big as a result of more people traveling to nice hotels. In 2014, we’re likely to see bathrooms with walk-in showers, roomy bathtubs and tranquil designs become a big trend for homeowners.

2. Mission Control
In the past the kitchen was often built at the back of the house, attached to the garage, and away from high traffic areas, but that tradition is changing. In 2014 we’ll see the kitchen as the focal point of the house, often placed in the center of an open floor plan, especially as more homeowners start to use their kitchen space as a multitasking room, or as “mission control.” By having the kitchen centered and open, parents can help children with homework, talk or pay bills all while making meals.

3. Traditional Design
While “midcentury modern design is thriving” and will continue to do so in 2014, more homeowners are looking at traditional home styles. For example, Craftsman homes with large porches, front columns and detailed gables will make a comeback in 2014. Queen Anne-style homes with asymmetrical facades and detailed gables may also see a resurgence. However, attention to detail will be important as homeowners look for exact replicas of the original styles.

4. Passive Homes
More U.S.-based architects are expected to include passive-house elements in their 2014 designs. Originally a European design, a passive house is built to work with the climate. For example, its roof may be pitched to make use of wind power, or it could have large windows installed to attract sunlight that heats the home. A passive-house design can slash energy consumption by up to 90 percent, according to Passive House Institute U.S.

5. Flex Rooms
Between the recession and the growing number of senior citizens in the United States, more households are becoming multigenerational. That change is leading to a developing trend in home building flex rooms. Typically bedrooms, flex rooms are designed to give more privacy to larger families and usually include a separate space such as a reading area or study off the main bedroom area. These rooms may also be built with a change in mind. Many flex spaces include a private entrance, which could later become a rental unit.

What is important to buyers?

 

 

How often are homes sold above asking price?

L.A. Council backs $39-million subsidy for downtown hotel project

The Los Angeles City Council moved forward Tuesday with plans to allow a real estate developer to keep $39.2 million in taxes expected over 25 years from a downtown hotel and residential project planned next to the 110 Freeway.

The council voted 11 to 0 to negotiate agreements that would let Greenland L.A. Metropolis Hotel Development retain one-fourth of the property, sales, hotel, parking, business, utility and other taxes that would normally flow to the city budget.

Ovrom has said Greenland officials knew what could be built on the property when they purchased the land for $150 million. He argued that the company probably would have constructed the project without taxpayer assistance.Greenland L.A., a company afiliated with Shanghai-based development firm Greenland Group, is seeking to build a 19-story hotel and a 38-story residential tower on a site just north of the L.A. Live entertainment complex. The taxpayer help was approved despite objections from Robert "Bud" Ovrom, top executive at the city's Convention Center.

Policy advisors to the council disagreed, saying Greenland proposed a hotel tower only because city officials had asked them to do so. "If no assistance is provided, the developer would construct a residential tower instead of hotel," Chief Legislative Analyst Gerry Miller said in a report to the council. 

Ovrom had no comment Tuesday. City officials say even with the subsidy, Metropolis will generate more than $117 million for city coffers over 25 years.

  

Miller has been recommending taxpayer subsidies as a way to lure hotel builders to downtown, saying the added rooms would help the convention center book more national events. Over the last decade, the council has agreed to let hotel builders retain more than $500 million in tax revenue -- projects that are all within three blocks of Metropolis. Yet another hotel developer, Related Cos., is looking to keep at least $138 million from a project through 2043.

  

The vote on Metropolis took place minutes before employees with the Coalition of L.A. City Unions showed up at the council to decry what they described as "predatory" fees charged to the city by Wall Street banks. Labor activists who packed the council chamber voiced similar concerns about the deal for Metropolis.

"To say that the city is having a hard time on the one hand, and then say here's free money to a developer who's going to make all this money back, is outrageous," said Roy Stone, president of a union local representing city librarians. "Don't give away the house to encourage them to build something."

Victor Gordo, an attorney for the coalition, also questioned the proposal, saying lawmakers need to re-evaluate their strategy for improving the economy.

HAPPY FATHERS DAY!

THE ESCROW PROCESS EXPLAINED

HOMES ARE SELLING FAST!

The 20 Most Important Projects in Downtown in 2014

DOWNTOWN LOS ANGELES - You know that boom you heard? It was the sound of the Downtown Los Angeles development scene exploding into 2014.

Over the next 12 months, the Central City will be a hotbed of openings, groundbreakings and milestones. In every micro-community, from South Park to the Historic Core to the Arts District and beyond, area stakeholders will either be celebrating the additions or complaining about all that darn noise and traffic. That makes sense, as cranes and road closures are sprouting everywhere.
 Below is a rundown of 20 of the most important projects of 2014. It’s not close to a definitive list, however. For that, check back in February, when Los Angeles Downtown News publishes its Development section.

The Broad: Philanthropist Eli Broad’s $140 million art museum may be the most anticipated and important Downtown cultural project since the opening of Walt Disney Concert Hall in 2003. The development, being designed by the New York firm Diller, Scofidio + Renfro, is rising directly south of Disney Hall, and the honeycomb-like exterior is expected to be placed on the building in the coming months. Broad said in September that he hopes to open the museum in late 2014, though no date has been revealed. The striking structure, which will have free admission and 50,000 square feet of exhibition space, is expected to create a new tourist boom, drawing thousands of local, national and international visitors to Grand Avenue.  

Ace Hotel: Everyone in Downtown is looking forward to Jan. 6, as that is the day that the uber-hip Ace Hotel will open in the former United Artists Theatre at 929 S. Broadway. The 180-room boutique establishment will instantly be a new anchor for the southern end of Broadway, and will dovetail with the recently opened retail arrivals Urban Outfitters and Acne Studios, and provide customers for area restaurants Les Noces du Figaro and Umami Burger, among others. The project will give new life to the 1927 theater; it will include a 1,600-capacity performance space that will be christened on Valentine’s Day with a show by the English band Spiritualized.

One Santa Fe: The Arts District will forever be changed, and will be much more crowded, on the late summer or fall day that the $160 million One Sante Fe opens. The Michael Maltzan-designed mega-development comes from McGregor Company, Polis Builders, Cowley Real Estate Partners, Canyon-Johnson Urban Funds Investments and Goldman Sachs Urban Investment Group. That’s quite a team, but that’s what it takes to bring a 438-unit project with nearly 80,000 square feet of retail and commercial space to market. The development, just east of SCI-Arc, will also have a 47,0000-square-foot plaza and more than 800 underground parking stalls. Get ready to start complaining about traffic and the impossibility of finding a street parking space in the Arts District.

Wilshire Grand Replacement: The replacement for the hotel on the northwest corner of Seventh and Figueroa streets won’t open for years, but on Feb. 15-16 it will be the site of what its developers claim will be the biggest cement pour in history. For more than 20 hours, 2,100 trucks will pour 21,600 cubic yards of cement into the pit, completing an 18-foot thick foundation. The development team for the $1.1 billion project spent 13 months razing the old edifice and excavating the site in preparation for the tallest building west of the Mississippi. The 900-room, 73-story hotel/office tower being developed by Korean Air, a subsidiary of Hanjin International, is scheduled to be complete in 2016. Local firm AC Martin is Korean Air’s partner on the project.

Grand Avenue Plan: Grand Avenue project watchers got a pleasant surprise in November when developer Related Cos. announced that architect Frank Gehry was back on board and is designing the two towers and plaza across the street from the Walt Disney Concert Hall. In 2014, the vision will be refined and will be paraded in front of city and county officials. Early plans call for an approximately 300-room hotel (Related is in talks with boutique chain SLS) and a 380-450 unit residential tower. Meanwhile, Related’s 19-story apartment tower south of The Broad art museum topped out in December; the building will offer 271 apartments and is slated for a late 2014 opening. 

Los Angeles State Historic Park: Downtown lovers of green space only have about six more weeks to enjoy Los Angeles State Historic Park. The whale-shaped attraction is scheduled to close in mid-February for renovations that will last a full year. The shutdown is necessary because the approximately $20 million plan calls for simultaneous excavation and construction across the property in order to save time and resources. When completed, the 32-acre facility will have restrooms, an amphitheater, parking lots and seasonal wetlands, among other improvements.
1111 Sunset: One of the most striking buildings in Downtown is just north of the urban core. Developer Linear City is wrapping up its conversion of the former Metropolitan Water District headquarters at 1111 Sunset Blvd. and should be ready for move-ins by February. Linear City paid $6.8 million for the seven-story edifice originally built in 1973 and designed by William Pereira. The project will offer 92 apartments ranging from 800-1,000 square feet. Each will have a balcony.

Marriott Tower: The $172 million Marriott Tower in South Park is scheduled to open in July. It will instantly strengthen Downtown’s tourism scene, with a 174-room Courtyard by Marriott and a 218-room Residence Inn in a 23-story building just north of the Ritz-Carlton/J.W. Marriott. The project comes from Seattle-based American Life Inc. and Portland’s Williams/Dame & Associates.

The Bloc: Retail fans will breathe a sigh of relief in the first quarter of the year, when developer Wayne Ratkovich embarks on a $160 million renovation of Macy’s Plaza. The transformation of the tired shopping center/office/hotel complex fronting Seventh Street in the Financial District is slated for completion in late 2015. The project will transform the brick fortress into a plaza with 400,000 square feet of retail and commercial space. Plans also call for 750,000 square feet of office space and a $40 million renovation of the Sheraton Hotel. 

Jia Apartments: Chinatown is getting a massive mixed-use addition in the form of Jia Apartments. The $92 million, six-story project from developer Equity Residential is set to begin move-ins on Jan. 27, according to Jia’s leasing office. The complex at 639 N. Broadway offers 280 studio, one-bedroom and two-bedroom residences, along with 18,000 square feet of retail. The design by Thomas P. Cox Architects will offer 17-foot-wide sidewalks and a pedestrian plaza. It also will create a major new southern entrance to Chinatown and provide hundreds of customers for area restaurants and businesses.

Eighth and Grand and Whole Foods: The bad news: Anyone driving north on Olive between Seventh and Eighth streets this year will be stuck in a squashed and slow traffic lane, as San Francisco-based Carmel Partners continues work on its massive 700-apartment complex. The good news: Construction will rise above street level this year as the developer moves toward its anticipated opening date in 2015. The construction also means that Downtown is getting closer to having its own Whole Foods: A 42,000-square-foot supermarket is part of the project. Other retail and commercial tenants in the project may also be announced this year. 

950 Third Street: Legendary Development and Associated Estates are on track to break ground this spring on 472 units in three buildings next to the Southern California Institute of Architecture. Dilip Bhavnani, a managing member of Legendary, said the development on the six-acre site at 950 E. Third St. in the Arts District already has city entitlements and would be comprised of five- to six-story structures. Once it starts, construction would take about three years, with a first phase of 248 units. The cost has not been finalized.

Blossom Plaza: Chinatown stakeholders this year will see a long-held dream come closer to fruition, as developer Forest City Residential West moves forward on the $95 million Blossom Plaza. The complex will feature 240 apartments (both market rate and affordable), 20,000 square feet of retail and, perhaps most importantly for area businesses, an expansive plaza that will connect pedestrians from Broadway to the Metro Gold Line. This may end up being the last full year that area visitors have to get off the Gold Line, walk down several flights of steps, then trudge up College Street to the heart of the community. Blossom Plaza is slated to open in 2015.

G12: The South Park boom continues, as Astani Enterprises and Wolff Company plan to break ground early this year on a $245 million mixed-use project. Astani and parking company L&R Group spent $29 million to acquire the property in 2012; last September, Sonny Astani announced that the three-acre site at 12th Street and Grand Avenue had been sold to the Scottsdale, Arizona-based private equity firm Wolff Company for $45 million, and that he would develop it with Wolff. The project, dubbed G12, should take two years to build; it will have 640 residential units along with 40,000 square feet of retail space, a screening room and two pools. Plans also call for 740 bike parking spaces, yet only 595 slots for cars.

Mack Urban Project: All eyes will be on South Park this year, as developer Mack Urban moves forward on a mega-plan to build a network of 1,500 residential units in buildings connected by green space and pedestrian plazas. Construction on the initial phase of the approximately $1 billion project could begin late in the year if the city approval process goes smoothly. In October Mack Urban — a new partnership that includes longtime Downtown developer Urban Partners — announced that it had scooped up six acres of land for more than $80 million. 

Medallion 2.0: Historic Core residents and workers could get some exciting new eating options this year, if developer Saeed Farkhondehpour’s Medallion 2.0 advances as hoped. The project is Farkhondehpour’s attempt to activate some underutilized retail space that never got filled when the mixed-use complex at Fourth and Main streets debuted in 2010. Now Farkhondehpour is moving toward community-serving uses — among them Big Mista’s Barbecue — instead of Toy District tenants. Also this year, expect Farkhondehpour to refine his plans for a new round of building on the site — he has discussed creating another 400 residential units and a parking structure. Farkhondehpour has said he hopes to break ground by 2015. 

Avant: South Park is a hotbed of development, and one of the biggest projects scheduled to open this year is the Avant Apartments. The first phase of the complex at 1360 S. Figueroa St. is slated for a February debut and will offer 247 units. The adjacent 193-unit second phase (at 1420 S. Figueroa St.) began construction in late April and could wrap up by the fourth quarter of 2014. The buildings offer residential units above 11,000 square feet of combined retail space. They will also establish a new residential beachhead across from the Convention Center.

Eighth and Hope Apartments: Though much of the housing development in Downtown is in buildings that are seven stories or lower, a 22-story tower is rising at Eighth and Hope streets in South Park. Atlanta-based developer Wood Partners is building the 290-unit edifice, which is slated for completion by the end of the year. The apartment complex will feature a pool deck, a six-floor garage and 5,000 square feet of ground-floor retail space. 

Lotus Garden: Affordable housing is always in demand, which makes Chinatown’s Lotus Garden apartments at 715-721 Yale St. all the more significant. The $24 million development from Affirmed Housing, which is slated for a first-quarter opening, has 60 units with studio, one-bedroom, two-bedroom and three-bedroom layouts. It will serve tenants making 30%-60% of the Los Angeles County median income. One of the coolest things about the project is its $289,000 automated parking structure. Known as the Carmatrix, the 17-stall machine lifts cars vertically and moves them horizontally, creating a space-saving, stacking effect.

Barker Block Phase Two: New condominiums have been a rare thing in recent years in Downtown, as developers have tended to open their buildings as rentals. However, developer CityView, which teamed with financial backer Blackstone, plans to begin selling units in the second phase of the Arts District’s Barker Block by the end of January. The $25 million project at the corner of Palmetto and Molino streets features 68 townhomes and lofts. Kor Group helmed development of the 241-condo first phase and will help market the new units. Many in Downtown are watching the project closely, and if the prices go high enough, other under-construction rental buildings could flip to for-sale status.

Site of former department store in Beverly Hills on market again

One of the most desirable pieces of real estate in the country — the site of a former department store in Beverly Hills — is on the market again.

Unlike other commercial properties across Southern California that have seen major long-stalled developments finally get underway in the last few years, this one has been a struggle. Once home to an upscale Robinsons-May store, the property has seen multiple owners who have so far been unable to bring a condominium complex designed by a famous architect to life.
Fortunes have been won and lost in the process, however, and vast sums are again on the line.
Joint Treasure International, a Hong Kong private equity firm, bought the 8-acre parcel near the intersection of Wilshire and Santa Monica boulevards in 2010 for $148 million. The firm had said it would complete an existing plan to build 235 condos on the property at 9900 Wilshire Blvd.
The 62-year-old building, which stands across Merv Griffin Way from the Beverly Hilton Hotel, has been unoccupied for nearly a decade. In a separate development, the owner of the hotel announced this month that he will start work soon on a Waldorf Astoria hotel that will rise next to the Hilton.
Representatives of Joint Treasure could not be reached to explain why they want to sell the Robinsons-May property or how much they hope to get for it. Real estate experts familiar with the Beverly Hills market think that the property is worth more than twice what Joint Treasure paid for it, perhaps in the mid-$300-million range.
Developers have found it challenging in recent years to find lenders willing to fund condo projects. Even though the housing market has been recovering, condo prices are still a bit low to justify new construction in most neighborhoods.
Beverly Hills, with its international cachet, is different, real estate broker Laurie Lustig-Bower said. "We are severely under-supplied for high-end condos in Beverly Hills," she said. Condos in the nearby Montage have sold for more than $10 million.
Lustig-Bower's international property brokerage, CBRE Group Inc., is marketing the property with Savills, a London real estate services firm.
"We think there is a high probability the new owner will be from overseas," Lustig-Bower said. Investors from Europe, the Middle East and especially Asia are likely buyers, she said.
The top selling point of the property is that previous owners successfully navigated Beverly Hills' arduous city planning process and secured approvals to build a condo complex designed by Richard Meier, architect of the Getty Center.
"Upon transfer of ownership, the incoming buyer will leverage the value already created and be able to immediately commence construction — a truly rare circumstance in the highly regulated and supply-constrained city of Beverly Hills," the selling brokers said in a statement.
Meier's design includes underground parking for 876 cars and nearly 21,000 square feet of shops and restaurants.
Condominiums at 9900 Wilshire could be sold to buyers from around the world, many of whom would probably have residences in other cities as well.
"I think we'll see a lot of local interest too," Lustig-Bower said.
Joint Treasure bought the property in 2010 in a private auction from Banco Inbursa, a bank controlled by Mexican billionaire Carlos Slim. The bank took possession of the property that year after completing foreclosure proceedings against CPC Group, which was operated by jet-setting British developers Nicholas and Christian Candy.
The Candys made headlines in 2007 when they bought the parcel for $500 million in one of the largest transactions in the history of Los Angeles County. The seller, New Pacific Realty Corp. in Beverly Hills, paid $33.5 million for the property three years earlier.
New Pacific created the plan that called for razing the empty department store and building a $500-million, ultra-luxury condominium and retail complex designed by Meier. Joint Treasure said it would follow through with the same basic plan but never started construction.
Beverly Hills is experiencing a surge in investment, said real estate broker Jay Luchs of Newmark Grubb Knight Frank. Rodeo Drive is fully leased for the first time in years, and nearby Beverly Drive is attracting more top-end national and international fashion retailers.
"Owners of these companies want to buy houses here," he said "Their CEOs and important people want to be here."
The growing commercial property demand has helped raise residential prices, Luchs said.
"Everything changed over last five or seven years — $5 million is nothing now," he said. "The best homes are $15 million to $20 million or more."

10 Hottest Fresh Architecture Trends in 2014

1.  Passive Homes

One of the most prevalent trends in the architectural world today is the shift towards a reduction in the consumption of energy; a reduction in carbon emissions, a focus on green principles. The passive home deals with this entire issue of wasted energy and carbon emissions, and it’s because of this solution which PassivHaus provides which has made them the center of focus and architectural design thus far in 2014.

As mentioned in one of our other articles, ‘Passive Houses: 13 Reasons Why the Future Will Be Dominated by this New Pioneering Trend‘, we show how a passive home can save up to 90% in heating costs.  As a large chunk of the world’s energy consumption is gobbled up by the home, if only this trend became accessible to every single person, the positive impact on the world would be significant.

We envisage, as the economic woes of the world start to lift, more and more governments will begin to offer PassivHaus grants and funding.  If this happens: This’ll be a trend which will have a very real impact in changing the world and our children’s future for the better.

Passive homes will be a strong trend in 2014; but mark our words that this trend will continue to swell year on year for the foreseeable future.

2.  Designing for Relaxation

It has been said that the living of today are exposed to more information in one day (content of the New York Times) than an average person in the 17th century is exposed to in their entire lifetime.  One could argue that the type of information a person of the 17th century was exposed to is of a different kind of information in which most of us today would be blind to; but let’s focus in on the principle of information overload.

The fact is that most people don’t know how to organize and process the sheer volumes of information they face everyday; what’s important and what isn’t; etc.  It’s for this very reason more and more people are turning an area of their home into a place of retreat; a place to relax and unwind.  The most popular choice in 2014 is the home spa; a place where one can escape to and unwind.  

The home spa industry is growing at a healthy rate.  In quarter four of 2013, it grew by 10% compared to the same quarter the previous year. The home spa industry is healthy and will continue to be a favorite in architectural design in 2014.

Further evidence of this trend can be demonstrated through new builds in the United States.  Over 50% of new builds are now equipped with a whirlpool bath.

3.  Flex Rooms

What are flex rooms?  Flex rooms are rooms or areas in the house which have a range of uses, or could be changed at some point during the year.  It’s usually a place in the house which is used for more than one purpose, for example an entrance hall also being used as a dining room.

Why is this a popular trend and why will it be strong in 2014?  The strength behind this trend can find its strength in three main factors; baby boomers, income and versatility.

Let’s start with baby boomers.  Architects are now designing homes to accommodate the growing elderly population who are opting to stay with family.  These houses have to be well organized, usually segregated from the rest of the house in some way in a self contained unit.  This allows for separation between the family (sanity preservation) and it also allows the living space to be rented out if need be.

Secondly, income.  As disposable income has dropped significantly and pensions lost in the crash of 2008, retirees have been forced to move in with their families as they simply can’t afford to live by themselves, or pay for a retirement home.

Thirdly, versatility.  Options are empowering and give the homeowner choices.  Flex rooms enable maximum usage with the space given; maximum usage output per square foot of living space – It also allows for change of use if so required.

 4.  Prefabricated Buildings

With the development of manufacturing technology, investment into the whole area of prefabrication (especially in China) has helped move this trend into significance.  Don’t just think homes either, this trend stretches far and wide, encompassing hotels, office buildings, sheds and end of garden builds.

The main draw of this trend are the monetary savings in which it offers.  The repetitive manufacturing process means savings in raw materials and saving in manpower.  Entire walls and furnished floor space are pre-made in a factory, which are then delivered direct to the plot, ready to be assembled in some giant Meccano like structure.

Project management is easier, build time is less, work force required is reduced; all money saving factors and all reasons why this is a growing trend which’ll continue to develop in 2014.

I think one of the most powerful visual examples of the power of prefabrication can be seen in this video where a 30 story building is built in 15 days.

5.  Health Conscious Designs

The materials which are used in building, decorating and furnishing the home are an issue which is being addressed by architects and designers.

Paints, upholstery, insulation, wood stain and other synthetic materials used in the home which cause hypoallergenic reactions and possible serious health problems are being replaced with those which don’t have such negative side effects.

Alternatives to these potentially unhealthy materials are always available, it’s just a matter of sourcing them at a price which clients are willing to pay.  It may be a matter of selling the potentially significant health benefits of these materials to help overcome the potential cost increase; the winning strategy to win their approval.  It’s just like the concept: If you have never had a heart attack, eat and live as though you have had one, to prevent (or at least reduce the risk) that problem from occurring.

In the same vein, architects are looking to cut down on the hypoallergenic and prospective carcinogenic materials, a trend which we’ll see in 2014.

6.  Kitchens: Hub of the Home

This is one which we particularly like; the kitchen being the focal point of the home.  No longer will the kitchen be that room which is built in the dark recesses of the house – Now it’s being elevated to center stage.  The kitchen is set to be the room in the house which is being used for more than just cooking.  We are seeing it being used as a place to think, study and work in addition to whole range of other multitasking uses.

It’s a similar dynamic to the flex home, but more specific.  Having the kitchen as the hive of activity within the house is great for bringing the family together and strengthening relationships.  It’s the trend for 2014 which should continue for years to come.

7.  Inventive Storage Capacity

You might have noticed while driving around the massive, often bold colored storage locker buildings; they’re everywhere.  It seems like this trend has grown like an out-of-control garden over the past 10 years, but there is a fundamental reason for it.  People have acquired so much ‘stuff’ they don’t know what to do with it, so much so that they are paying monthly payments to store their junk precious items in storage.

Without tackling the underlying problems that would be the job of psychiatry professionals; architects realize the need and are catering for it.  More storage space is obviously needed in the home, and they are designing varied solutions with style & finesse.  Clutter around the house can be unsightly, and in a world of design where less is more, clutter needs to be dealt with; even if it’s merely storing it.

Again, based on need, this trend is a growth trend which’ll be popular in 2014.

8.  Reusing Existing Buildings

Some of the best designs in 2014 won’t necessarily be newly built buildings on the cutting edge of architectural genius, but rather using the existing shells of buildings to build around.  Buildings which have a rustic industrial aura, church buildings, factories and buildings with historical character are all existing buildings or derelict shells have character features which are difficult to recreate in modern design.  It’s a wonderful endeavor that helps to save historical beauty, which is why we’re glad this is a growing trend in 2014.

9.  Utilizing the Outdoors

Where the outdoors was once a place exclusively for the garden or yard, it is now being used for outdoor rooms.  The advance of outdoor eco-friendly materials has enabled architects to become more creative with the use of outdoor areas.  Space is a valuable commodity, so it makes logical sense that this trend is growing; especially as population growth increases whilst house prices remain staunch.  The trend will be especially popular in areas where the weather is kind, but even in places such as the U.K. you’ll find brave and creative architects making it work.

10.  Disaster-Friendly Designs

It seems that nobody is safe from flooding, storms, fires and earthquakes these days.  Growing up in England I’ve always categorized these dangers as problems that other country’s have.Hurricanes: I think Florida.  Earthquakes I think Tektonic regions.  Floods I think of Tsunamis in tropical countries.  England this winter has experienced the worst flooding in 250 years, with flooded homes and damage costing an estimated $2 billion dollars.  Whatever the cause for the erratic conditions we are facing as a human race; it’s reach is far and wide, and it’s an issue for geographical areas which previously weren’t affected – These areas are now investing into solutions to protect against such natural disasters.

As such, architects are now future proofing their designs for natural disasters such as flooding, storms and the likes.  This is a trend which has been forced upon us by need, and it’s an important one for coming decade.