Take a Virtual Tour of the Castello della Costa d’Oro

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We invite you to imagine what life at the majestic Castello della Costa d’Oro would be like with an exclusive virtual tour. The following video will take you through the one of a kind California estate to see what makes the Golden Coast Castle so magical.

From the sparkling shores to the vibrant green foothills, the video begins with bird’s-eye views of the incredible location and breathtaking landscapes that surround the property. Taking you in closer, you’ll then enter through the double doors of the main entrance to begin a tour through the interior of the main residence. During your tour, you will witness stunning architectural details and finishes including columns, dome ceilings and Venetian paintings and sculptures as well as impressive amenities including the gorgeous car showroom.

 

Of course, the true beauty and luxury of this estate can only be realized in person. To schedule a personal showing to see the Castello della Costa d’Oro in California currently listed at $58 million, please contact Hurwitz James Company in Beverley Hills at 888-681-5902.

 

The “Facebook Effect” on California Real Estate

Since announcing its IPO, Facebook has been dominating business headlines. But California real estate professionals will confirm that Facebook has also been dominating their own conversations as housing experts try to determine the effect that this historic trading event might have on the local California housing market. As one real estate agent told ABC News in a recent report, “There’s no way there’s not going to be an effect.”

The headquarters of Facebook is located in Menlo Park, meaning the neighboring Palo Alto area is expected to see the most action as a result of the company’s public debut. Already one of the area’s hottest neighborhoods, Palo Alto is home to younger money, a vibrant downtown and excellent schools.

According to AOL, real estate professionals are preparing for new Facebook millionaires to flood the Palo Alto real estate market with a buying fervor and – possibly – a taste for luxury, unlike their frontman Mark Zuckerburg who resides in a modest bungalow. They are calling it the “Facebook Effect.”

“‘Facebook effect’– the anticipated demand for high-end housing following the company’s May IPO. Since the beginning of the year, prices have climbed more than 10 percent in Palo Alto, Calif., where the company is headquartered.”

But inventory is still low, and experts are still unsure whether homeowners are waiting for the IPO to really take off. As a luxury real estate company based in Beverley Hills, Hurwitz James Company is also curious to see the results of the “Facebook Effect,” and we want to hear your opinion. Do you think homeowners are strategically waiting? Will Palo Alto become an infamous Facebook community?

facebook effect on real estate

Photo via FreeDigitalPhotos.net

Google’s New Venice Beach Headquarters Expected to Spark Local Real Estate & Business

While our last article sited some of the small signs of a healing housing market, one California community has extra reason to be hopeful of a stronger local real estate market. As of November of 2011, Google has firmed its roots in Venice Beach with the leasing of more than 100,000 square feet in three buildings on Main Street. Part of the new Google office is also being housed in world-renowned architect Frank Gehry’s iconic Binoculars Building.

According to an article from The Hollywood Reporter, “While Google’s relocation is expected to lead at least some employees to purchase property in Venice, perhaps more importantly, brokers and others say that the company’s choice of location there is spurring others to consider the beachside community.” It is clear that the effects go beyond the fact that Google chooses locations for its offices in areas that have room to grow.

As associate economist for the Los Angeles County Economic Development Corp Kimberly Ritter-Martinez told The Hollywood Reporter, it’s the clustering effect. The area is consequently more appealing to like-minded companies and individuals. Big names that have hence purchased buildings in the same area include ad agency Zambezi Ink, actor-director Jon Favreau, Robert Downey Jr., and co-founder of Luma Pictures Payam Shohadai.

 

 

 Photo by Majunznk

Signs of a Healing Housing Market

The real estate market receives some goods news as high buying season approaches. Opportunities may soon be rising for investors as the U.S. housing market shows signs of recovery. Here is what portfolio manager of the Fidelity Trend fund, Dan Kelley, told The Wall Street Journal’s MarketWatch in a recent article:

“The housing market is showing some evidence of stabilization and even improvement in the U.S. And with a reduction in inventory and an appreciation of rental rates across many markets, investors are taking another look and recognizing the value proposition the sector can provide.”

Positive trends in consumer confidence and business investing have also been supported by Fannie Mae. According to the February National Housing Survey, Fannie Mae recently reported to the Washington Business Journal an increase in consumer confidence of 19 percent since November 2011. Fannie Mae is hence predicting economic growth to improve to 2.5 percent before the end of 2012.

 

Sources: MarketWatch and Washington Business Journal