BusinessWeek recently did a special report on the state of luxury housing in the U.S. There were several articles in the report, and I was interviewed for and quoted in two of them.
Here are links to the full articles as well as the excerpts wherein I was quoted:
Where the Home Price Gaps Are Biggest
Christopher Hain, a real estate agent with Ramsey-Shilling Associates in the Hollywood Hills, says homes of $10 million or more are in short supply in the Los Angeles area. In Beverly Hills, house prices at the lower end of the market—that is, $1 million or so—are much weaker than the top of the market, he says.
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"I'm working on three developments: $5 million homes in Brentwood, $6 million homes in Beverly Hills, and $27 million homes in Bel Air," he said. "Which one am I most confident in? The $27 million development. I know they're going to sell because there will be nothing compared to it."
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A well-connected agent can find a buyer by calling another luxury agent or wealthy client interested in a great off-market listing with unique characteristics.
"Lots of really good stuff, you don't even need to put on the market," says Christopher Hain, real estate agent with Hollywood Hills (Calif.)-based Ramsey-Shilling. "Agents facilitate the deal because it allows them to do both ends of the deal."
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