Coco 's LA Condo Lifestyle Blog

By Coco Clayman Cook

One of the keys to enjoying the Holiday season is proper planning.  I believe in using the Holiday season as a time to be really kind to myself while enjoying friends, family and the fruits of my labor.  I don't believe in running around frantically attempting to find meaningless gifts while neglecting my regimen of health and nutrition.  To that end I begin in October by getting my home ready for the season.

As I mentioned in the last few weeks I conduct a large fall cleaning, purging any clutter.  By the end of October I take the time to check the status of my entertainment accouterments.  This means ensuring that the silver is freshly polished, my wine storage is appropriately stocked and my table linens are in guest worthy condition.  I also take the opportunity before Halloween to order my Thanksgiving Dinner.  My secret is that I order an entire Thanksgiving Dinner from Whole Foods Market.  In the past I have found good use for it whether I donated it to a shelter, served it as a simple and elegant Thanksgiving meal to friends and family or had it delivered to client as a gift.  By ordering early, I ensure that I won't be caught up in last minute stress and indecision.

These are just a few of the things that I do to make sure that my holidays are truly special without being exhausting.  Stay tuned for more helpful pre holiday tips and tricks.

By Coco Clayman Cook

I love this time of year in Los Angeles.  The temperatures are lovely and temperate and the sunsets from my luxury condo balcony are awe inspiring.  The produce at the Beverly Hills Farmer's Market is tremendous and colorful.  From the wide variety of succulent heirloom tomatoes to the rainbow of peppers, squashes and pumpkins the fare is splendid, fresh and first rate. 

Culturally, Los Angeles thrives in the fall.  For live theatre Wicked remains at The
Pantages Theatre through the first of the year and Spring Awakening is preparing to open at The Ahmanson Theatre.  For Art lovers there is a vast cornucopia of openings to choose from, enough to satisfy everyone's tastes.

It is truly a remarkable time of year to live in this modern day paradise.

By Coco Clayman Cook

With a signed bailout and the election only days away it seems almost certain that things are about to change, the real question is, "How?"  And while I am interested in the entire market I will confess to being infinitely more interested in the market here in Los Angeles.  In the luxury condo market we have seen definite changes in the last 2 years, but nothing as drastic as the rest of the country.  In fact luxury condominiums actually enjoyed a surge in sales over the summer.  More and more people are realizing that in this economy a luxury condo is a great investment in the long run and an instant investment in gas savings.

In the coming months we will see what the economy has in store for Los Angeles, our country and the world market.  One thing is clear though, people will continue to need homes.  If they aren't able to purchase, which potentially could be a substantial portion of the public, then they will need to rent.  A smart investor who purchases prime rental properties now could certainly be poised to cash in for years to come.  If you are looking for smart investments in luxury condominiums on the Westside of Los Angeles give me a call, it could prove to be life changing

By Coco Clayman-Cook

Sometimes life throws you a curve.  I am a specialist in the area of luxury condominiums for Los Angeles' famed Westside.  It's not unusual for a divorce attorney to contact me and ask me to give them a broker price opinion to sell a couples luxury condominium for a couple who has decided to divorce and needs to dissolve their assets.  Moving can be stressful on it's own but when it is due to the dissolution of a marriage it can be particularly rough.  Often there is personal property to be divided or disposed of and extremely tight time lines to adhere to. 

I'm not an expert at divorce by any stretch of the imagination, but I am an expert at selling a condominium quickly and efficiently.  I've even been known to negotiate a deal that included furniture if the clients wished to be rid of it. I have been married and divorced and know what comes with that.  I understand the need for discretion and speed, but I never cut corners. If all of the belongings are taken out of the condo before the listing is given to me I stage the kitchen and the bathrooms and have a staff to help get the place in order so that it shows the best way that it can - I bring from my arsenal of staging items of my own to make the place look as nice as possible. I have a handyman to help with small items and a cleaning crew that can make things sparkle. I get the job done right.

If life has thrown you a curve ball and you need to sell your luxury condominium, call me, I'm good with curve balls. Nothing at this point in my career really throws me for a loop.

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by Coco Clayman-Cook

Two professional women set out on busy days filled with business meetings and power lunches.  The women are similar.  They are both young, intelligent, successful and motivated.  One lives in a luxury condo on Los Angeles' Westside, the other rents a small home in the San Fernando Valley.

The Condo owner leaves her home at 7:30 in the morning and visits the roof top swimming pool in her building, she takes her morning swim and then enjoys sometime in the sauna before going back to her condo for a leisurely breakfast and luxurious shower before leaving for work.  At 8:45 the doorman opens the front door for her, the valet has the key in the car and the car started - in fact she has already arranged to have the car washed and as she walks to her care he helps her with her briefcase lunch, water bottles and whatever else she needs to take to the office. At 8:55 am she arrives at work, refreshed and ready for work.

Across town the other woman rushes out her front door at 6:30 carrying a gym bag, a briefcase and a potted plant, she rushes to her gym where she waits in line for an elliptical machine after a brief work out she rushes into the gym shower and hastily dresses. At 7:40 she is back in her car applying her make-up while waiting in a drive thru for breakfast which she will eat while negotiating rush hour traffic.  At  9:10 she arrives at work, late, stressed and having spent an exorbitant amount on gas.

Which lifestyle would you choose?

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By Coco Clayman-Cook

Every time the seasons change I view it as an opportunity to conduct a major cleanse of my home and office.  Don't misunderstand me, I have regular cleaning staff that sees to the day to day needs, otherwise I am doing it myself - but let's face it every once in a while something deeper is required.  For Fall cleaning I like to pay particular attention to de-cluttering.  Fall is a time of harvest and bounty and to make room for new things you need to purge the old. 

I take time in the fall to go through all of my closets and donate anything that hasn't been used in over six months to charitable organizations.  This includes appliances, book, clothes and shoes.  The truth is that there are people who would find the use of these items a blessing and in this economy need these items. And as my load is lightened I am free to enjoy more prosperity. Yesterday I was taking out closed escrow files and making room for new escrows in the office and cleaning out my in basket which magically seems to fill up no matter what I do. But when everything is in its place I feel much better and I promise that lightening your load will only free you to enjoy more peace, tranquility and prosperity.

At the office I take the time in the fall to have my computers maintained, files compressed, hard drives defragged and everything backed up.  I have found it well worth the time spent. Everything is on schedule for a check up in the month of October. As I share this with you I do the same for me.

By Coco Clayman-Cook

When you live in a luxury condominium it's important to make style choices with an emphasis on editing.  Less is always more.  That's why I think it is important to have a signature piece or color.  I have a friend who simply loves the color chocolate brown. It is a passion with her.  She is also a woman of remarkable test, with truly impeccable style.  When ever I visit her home I wait with baited breath to see the floral arrangement that will grace the table in her foyer.  It is always a lovely orchid arrangement that is nothing less than a showcase for beautiful white orchids and is featured in the most magnificent brown wooden container. The chocolate is warmed up with lighter shades of beige and brown and accents of red that warm you up. She even has a bit of animal print thrown in there which makes her taste and style eclectic and the orchids are magnificent - they last a long time if cared for properly are sometimes have these great rocks surrounding the greenery, and no two arrangements are ever the same.  They are amazing floral pieces of art work and they are done by a company called the Orchid Wrangler in West Hollywood.

What is the signature piece in your home?  What truly defines your style?  It isn't necessary to have a vast collection of any one thing.  Think in terms of one signature piece.  When you find it you'll know.  Make sure to display your signature piece in a prominent place, not only to show it off but that it welcomes you and yours whenever you enter your home.

By Coco Clayman-Cook

These are interesting times in which we are living.  As I look at how the market has changed in the last year I cannot help but note how the dynamic of the average luxury condominium has changed recently.  Of course there are still young married couples, and young upwardly mobile executives buying luxury condominiums as well as retirees who want to downsize and smart savvy singles.  But increasingly there are more and more companies purchasing luxury condominiums to be used as a corporate asset.

When you think about it - it makes a great deal of sense.  Luxury condominiums are a great investment and can be much less expensive than staying in a hotel.  More and more corporations are picking up great deals on these condos and using them for interim housing for executives.  It makes a great deal more sense than throwing money away on five star hotels.  Personally, I think it's an incredibly smart solution to any corporation's temporary housing needs. To me each and every big firm should have one.

By Coco Clayman-Cook

You've seen the numbers; you recognize the value, so you have decided that now is the ideal time to purchase a luxury condo as an income property.  Good for you.  You are in good company, the real estate investors who did the same thing during the last recession made millions doing exactly the same thing. 

Now that you've made the decision you've contacted a realtor who specializes in Luxury Condominiums, if you live on the Westside of Los Angles you've called me.  Most likely you have already spoken to your private banker or are ready to visit a mortgage broker to get pre-approved. I suggest applying with your own bank and also a mortgage broker - just make sure both know what you are doing. Even if you've bought a hundred homes before this is a crucial phase in today's market.  No one is going to consider your offer if you do not have a preapproval letter which differs from a prequalification letter and proof of your down payment prior to considering your offer. This economy has changed the way we all do business but especially the mortgage business, making pre-approval essential. The Seller on the other side my also want to see a copy of your credit report.

Now you are ready to look at luxury condos. You know your range - the range includes price, property taxes, homeowner's dues, your mortgage payment and insurance.  Value is determined by the bank and buyer in today's market.  It isn't simply about square footage although that is a quick and easy way to evaluate some properties at first glance and many do. Another is location with a luxury condominium and the view. Plus don't forget to compare the amenities, upgrades, services and staffing.  This is where having an expert realtor will prove a wonderful asset. 

by Coco Clayman-Cook

We can talk endlessly about the current market and how it may or may not affect all of us for years and months to come, but it's important to remember some fundamental truths.  Markets go up, markets go down. People continue to need homes in which to live.  When possible it is better to buy low and sell high.  When possible, being the important part of that sentence. That time is now.

The reality is that there are people who need to sell their homes right now, in some cases due to divorce, relocation even death.  For others they view this as an ideal time to move to a larger or smaller home.  Homes are still selling, smart people with good credit understand that now is an ideal time to invest in valued real estate.  Smart agents know how to help you find those properties and are looking every day for their clients sometimes twice a day.

So if you are in a position where you need or want to sell your luxury condo, you do not need to despair. Quality condominiums are selling if they are priced right. Remember it's not what the agent thinks or what the Buyer thinks or what the Seller thinks - it may be what the bank thinks. You need to list your home with a professional right now who understands this ever changing market. 

And you need an agent who is up on the latest and greatest marketing for today's buyers who are different than the buyers of last year and ten years ago. I am an expert on the internet buyer and with over 300 hits a day on my website - if you want to sell your condo it is critical that you call me for an interview.

For home sellers that say, "Let's list it for this (high number) and if it doesn't sell in 30 days we can lower it." I do my best to explain to them that in this market taking that tactic will only cost them in the long run and if they really want to do it that way I will insist on writing it in the contract. I am the Seller's representative and need to give them the best advice possible. Waiting in the volatile market that we are in can be very expensive in the long run. The longer the condo stays on the market the less it will sell for. That is a promise. Prices are not going up, they are going down and every one has access to what you paid and what you owe so why waste time - take your money and run and either land in a rental for a year and wait it out or buy something that has been sitting on the market where the Seller has to sell.  It is much more advantageous to put a condo on the market at a competitive price and try and have multiple bidders then to watch the property suffer on the market and ultimately sell for significantly under the asking price.