Simon Cowell Beverley Hills home has still got the builders crawling all over it despite starting his new build some 2 years ago. So is this down to quality craftsmanship that takes time or maybe the X factor judge not being happy with what he sees. It just proves that no matter how much money you have got you cant rush good building work
Simon Cowell’s bought the home back in 2006 at a sale price of USD$8 million the home was not exactly what the multi millionaire wanted. Mr Cowell demolished the existing luxury home to build his own dream home which today still remains unfinished.
Celebrity neighbours include Madonna, Jessica Simpson, Sharon Stone and his fellow American Idol judge Paula Abdul. Recent X factor news suggests that Cheryl Cole is to replace Sharon Osbourne as one of the four judges on the show
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I have equated international real estate markets with the times of the day, this came to me as we turned the phones on to the 9am caller. These were the best calls to receive they tend to be motivated buyers so keen they are waiting for your office to open! They have been up all night doing research and have woken with one thing on their minds buying an overseas property
The 9am market for me today is without a doubt Egypt. A housing market presenting low enough prices that investors don’t even need finance. A great place to buy in a credit squeeze, investors are also not exposing themselves to too much risk.
US Housing market
It surprised me that with low prices and favourable currency exchange rates that the US housing market was not indeed another 9am housing market. In fact the last few months I would say its been a sleepy 3am real estate market
All the figures point towards 9am for US property but the feelings of uncertainty of this region seemed to keep the US market firmly in the dark hours of morning.
Today I have seen movements towards the US market from international buyers and their are changes in the types, places and people who now see the US market as great place to buy. Two years ago all the action from international buyers was taking place in Florida, today’s buyers are finding other US states as attractive places to buy.
A great example of how the credit squeeze has changed international investor buying habits in the US is seen with property in Rochester City in Western New York State, USA. Rochester is the 3rd largest city in Western New York after New York City. It is an area that is coming out of recession and where the cheap property market is investor driven. Investors from all over the world have already invested into this low cost investment market and have been reaping the benefits from the high yield rental income it has to offer. This is a city where there are large employers such as Kodak, Xerox, Wegmans Foods and the Optical Science University. Properties with tenants start from only £15,000. Over the last two months this region has been a firm 9am market.
Florida lifestyle buyers are ringing at 11am
When you have a dream about retiring to the sun and have planned a lifetime to buy a property abroad a credit crunch will not put you off. I have seen this with Florida lifestyle buyers increasingly this market is heading towards 9am, today it is at 11am. Buyers are very motivated and very interested in what the sunshine state has to offer. The strange thing is once they find out what they then can buy with their money they turn into 9am buyers. Some of these buyers are getting double for their money.
I had a couple from the UK ring with their budget of £200,000 they had planned a nice modern 2 bed home or condo. Now they can easily achieve a 4 bed house with pool and lots of incentives thrown in. What is more they are in charge they are calling the shots and can walk away from a house if they don’t get the price they want.
These are all early indications that the US market is turning the corner after all who can resist a bargain. Buy low sell high is the cry from the market floors its seems that this is certainly the case for the US property market
Ruth Ryon is a legend in Los Angeles for her revered column, "Hot Property," which features news about celebrities’ real estate fetishes. The column has been featured at the Los Angeles Times since 1984. During this time Ryon has impressed and fascinated people of all backgrounds with her newsworthy column featuring tales of fine homes, real estate deals and the lives of celebrities.
The more unique the building, the more likely Ryon had her eye on it. Readers of the Hot Property column looked forward to hearing about the newest architectural sensation, or the exquisite property changing hands. The result was a phenomenally long running column; Ryon devoted 24 years of her life to developing successful and interesting topics for her readers.
Ryon will be sorely missed by the California public and beyond; her years of running the column have developed a very loyal following. She hopes that this big change in her life will lead to even greater endeavors. One thing is clear: somebody has some very big shoes to fill.
