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Calabasas

California - Los Angeles

21.4°C

Calabasas - Los Angeles

This former Chumash Native American place became a famous city where studio heads and movie stars rent out ranches for the summer. With its Western style, Calabasas is a place that promises exclusivity and privacy as it welcomes many celebrities. Its gated community offers both space and security as well as prestige.  In fact, many properties are built with the spirit to re-recreate the Beverly house style, with a Cali-Mediterranean look.

Market overview

The American real estate market has suffered from an important crisis, due to seizure of properties. This phenomenon had a huge consequence on prices, which plummeted. Therefore, investing in a property in L.A. is currently a safe investment and is interesting as the market benefits from favorable conditions.

Besides, the American population is mobile and often changes its accommodations. The law is particularly secured for financial backers and the American system is based on MLS (Multiple Listing System) which gathers all properties on sale, which is a guaranty of  ease to find one.

Thanks to a nice economic expansion, Los Angeles enjoys a large and diversified property portfolio with competitive prices for a city such vibrant, enormous and sunny. All in all, this area is a real heaven for owners and real estate investors.

Who buys?

Thanks to its multicultural aspects, Los Angeles is a global city which constantly attracts show business celebrities, fashion leaders, wealthy tourists as well as powerful financial people who are looking for an upscale quality of life, in a magnificent green oasis where are gathered culture, entertainment, glamor and leading-edge technology.

Buying basics

"Before any investment, the potential buyer will have to contact a professional of the real estate sector. The latter will need his client's passport and other administrative and bank documents to testify his identity and his solvency. The buying process is really fast (around one month). You do not need to have the American citizenship nor the famous Green card but you are required to provide a social security number (SSN), which is obligatory to fill in the tax return (that is only $100 for a property).

Besides, it is highly recommended to purchase an insurance regarding the ownership title in order to be secured in case of potential recording error. "

Peak Season
Jun 01 - Aug 31

From June to August, summers are particularly sunny and hot because of Santa Ana, a warm and dry wind that creates heatwaves. Therefore, temperatures can sometimes reach 35 degrees.

High Season
Apr 01 - Dec 01

The period from April to November is generally one of the best periods of the year to visit Los Angeles as temperatures are pleasant. Spring is also the period with shorter visitor queues and lower prices. However, between April and May, there is a "June Gloom" phenomenon (also called "May Grey") which corresponds  to a thick fog that appears at dawn and persists until midday.

Low Season
Dec 01 - Mar 31

Thanks to a Mediterranean climate, Los Angeles has a sweet climate throughout the year. Winters are mild and slightly rainy. Temperature scarcely drop below 10 degrees during the period from December to March.

Leonis Adobe Museum

Situated in Old Town Calabasas, this adobe structure was built in 1844 and was bought in the 1870s by Miguel Leonis and his Chumash wife. This French made a fortune thanks to sheep ranching, real estate and litigation. As he owned a large portion of the Western San Fernando Valley, he was nicknamed "King of Calabasas". He enlarged, extended and restored the Leonis Adobe building in a Monteray-style that we can still admire today. It is one of the oldest buildings in greater Los Angeles.

The Pumpkin Festival

This annual festival takes place in October in tribute to the city's namesake. Indeed, Calabasas derives its name from the Spanish "calabaza" which means "pumpkin", due to the vast presence of wild squash plants in the area" According to the local theory, this presence would be explained by the fact that a traveling wagon carrying pumpkins overturned and hundreds of pumpkin seeds spread along the road which caused the first pumpkin patch in the region. If you attend this significant event, you will assist to carnival games, exhibits or even demonstrations and live entertainment.

The Malibu Hindu Temple of Calabasas

Built in 1981, this South-Indian style temple was dedicated to the Hindu god Venkateswara. The Temple's presence could be a surprise for visitors as it contrasts with the wealthy suburban of Los Angeles. It is annually visited by followers of Hinduism and tourists. This temple receives priests and have dedicated areas for meditation, picnic as well as cultural and Hindu programs. All in all, this is a very peaceful place with a quiet atmosphere where you will be able take your time to relax.

The PRESTIGE MLS agents

Syd Leibovitch
Director
Rodeo Realty
Mark A. McLaughlin
Director
Pacific Union International
Los Angeles
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