Rochelle Maize
Executive Director of Luxury Estates, Nourmand & Assoc.
Maize focuses on Bel Air, Holmby Hills, Beverly Hills, Hollywood Hills, Brentwood and beach communities, and has racked up more than $1 billion in sales. She ranked No. 26 on the Business Journal’s list of residential real estate agents by 2018 sales volume with $155 million in sales in L.A. County.
What’s the next big trend?
There’s growing interest in smart-home technology. Prospective homeowners appreciate when a property is updated with the latest technology such as an electronic doorbell, video surveillance, a Google Nest thermostat, and other electronic devices that can be controlled or monitored from their smartphone. These trends are likely to grow in popularity over the coming years, and sellers and their agents should consider updates where possible to stay competitive.
What do buyers want now?
Outdoor living rooms. They want exterior spaces with features to allow for entertaining and gardening — organic vegetable gardens are increasingly popular as well for all of the farm-to-table cooking. They also love low-maintenance living. Keep in mind, millennials are used to living in the age of high-tech advances and Amazon Prime. They’re looking for energy-efficient homes with smart appliances. It’s that instant gratification mindset.
What is your favorite deal so far this year?
The Wellness House in Beverly Hills, which I just closed. It was the first time a developer ever hired me in the middle of the construction process. I was able to guide him to incorporate some of the current trends in the luxury marketplace to help target the prospective buyer for this fabulous home.
What is your outlook on real estate for the next 6-12 months?
We have seen prices rise in the Los Angeles real estate market for more than a half a decade, and this year doesn’t appear to be the year in which the increases subside. I believe in 2020 however, the market will pause and possibly correct a little. It is only healthy for the market to correct. Nothing can go straight up indefinitely. If the market does continue to rise, I feel it will be at a very slow pace — 2% to 4% — over the next 12 months.
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Chris Cortazzo
Agent, Compass
Veteran agent Cortazzo joined Compass, leaving Coldwell Banker Residential Brokerage in August. He ranked No. 2 on the Business Journal’s list of residential real estate agents by 2018 sales volume, with $554 million in L.A. County sales.
What’s the biggest trend in single-
family homes?
More open floor plans and natural light. Views are a plus.
What do buyers want now?
Value, location, Malibu lifestyle.
What submarkets are hot now?
Coastal communities continue to be the biggest draw.
What is your outlook on real estate for the next 6-12 months?
The market has been strong for purchase and lease, and I expect it to continue well into next year.
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Tami Halton Pardee
Founder/CEO, Halton Pardee & Partners
Pardee is known as the “Queen of Venice” for her prominence in the market. She ranked No. 3 on the Business Journal’s list of residential real estate agents by 2018 sales volume, selling $482 million of real estate in L.A. County.
What’s the next big trend in single-
family homes?
More buyers are taking advantage of ADU (accessory dwelling unit) spaces where you can have a separated space. Either a garage that’s been converted or a guest space, which is now allowed legally, depending on the property. Many are creating these spaces in which they can enjoy time for themselves. We are seeing more and more that, when they are not being used for guest spaces, they are set up as “his and hers” spaces, like the man cave, or a ladies’ L.A.I.R (love and inspiration room).
What submarkets are hot now?
We are seeing an influx of buyers in places like Lawndale, or Hawthorne a bit further south — close to Manhattan Beach, still very close to everything and very well priced. Also, North Baldwin Hills is a hot pocket right now, off of Rodeo, which is now Obama Blvd.
What is your outlook on real estate for the next 6-12 months?
I think one thing we will start seeing is rental rates decline with the new Airbnb laws. There will be more long-term rentals available, and with the increased supply, the rents might adjust in the downward cycle. Also, I believe interest rates will remain low, and it will continue to be an excellent time to buy.
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Jade Mills
Agent, Coldwell Banker Residential Brokerage
Mills has racked up more than $5 billion in career sales. She ranked No. 6 on the Business Journal’s list of residential real estate agents by 2018 sales volume with $343 million in L.A. County sales.
What’s the biggest trend in single-
family homes now?
People want to purchase a newly renovated or new home. The buyer wants instant gratification and does not want to work on a project for a year or two.
What’s the next big trend?
People want more land. A view is still very desirable, but I think they are forgoing the view for more land.
What is your favorite deal so far this year?
I have two favorite deals this year. One, of course, is the Ecclestone sale. This home, originally the Spelling Manor, was a totally remodeled, 56,000-square-foot house. It was a record-setting sale at ($119.8 million). I enjoyed getting to know the seller, who was so appreciative of us getting her home sold so quickly. My other favorite sale was a house in Beverly Hills that sold for ($2.5 million) in which we had multiple offers. The reason this was one of my favorite sales of the year was because my sellers were so happy and grateful, and that is what I love about my business.
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Santiago Arana
Principal, The Agency
Arana joined The Agency in 2014 as a principal and partner. He was No. 7 on the Business Journal’s list of residential real estate agents by 2018 sales volume with $340 million in sales.
What’s the biggest trend in single-
family homes?
The biggest trend I see is for homes to be built with good, quality materials throughout. Buyers are giving this much more thought, and they can be traditional, transitional or contemporary homes.
What’s the next big trend?
More contemporary warm homes, farmhouse and Napa contemporary.
What submarkets are hot now?
Ocean Park and Mar Vista.
What is your outlook on real estate for the next 6-12 months?
The market, I believe, is going to stay and remain the same. There are a healthy amount of buyers out there all looking for value, quality and location. Overpriced listings will need to adjust to realistic numbers.
