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2 Buggy Whip Drive
Rolling Hills, CA 90274
$10,000,000
Conventional
Property
Bedroom
4
Bathroom
5
Property Type
Conventional
Square ft
8000
Property Description
View! View!! View!!! Nestled in the exclusive Rolling Hills community, this custom-built tennis estate exemplifies the pinnacle of opulent living with mesmerizing Queen's necklace, coastline, and the sparkling city views and fine appointments throughout the house. With over 2 acres of land, the property is enveloped by majestic trees and a gated entrance, providing a tranquil and exclusive retreat. As you approach the estate, the tennis court and the circular driveway set the tone for the grandeur that awaits. Once inside, the high ceilings and natural light from the skylights set the ambiance throughout the house. Wall-to-wall glass from the living areas also merge the indoor and outdoor spaces seamlessly while providing unobstructed views outside. The large formal living room features a stately fireplace whereas the spacious family room and dining area are perfect for gatherings, all surrounded by breathtaking views. The chef's kitchen features a delightful casual dining area, large center island and expansive granite countertops & cabinets. There's a library/office that can be converted into a bedroom whereas a bonus room is ready to suit your lifestyle needs. Meanwhile, separate laundry room in the main & lower level add to your convenience. Most of the bedrooms in this luxurious mansion enjoy the awe-inspiring views. The grand primary suite is a sanctuary of its own, with a cozy fireplace, a generous walk-in closet and a resort style bathroom for ultimate relaxation. There is an en-suite bedroom while two other bedrooms share a Jack-and-Jill bathroom. The lower level features 2 large recreation/game room with a full bathroom, another opportunity to convert into additional bedrooms. There is also a bar and a wine storage & tasting room for the wine enthusiasts. While you bask in the beauty of the outdoors from the view deck, you will find a built-in BBQ and a firepit for outdoor gatherings as well as a large pool and spa area for additional fun. A horse riding ring and a stable, converted into a guest house without permit and not counted in the square footage, can also be converted back for the horse lovers. With unrivaled luxury, privacy, and awe-inspiring views, this luxury estate is a rare opportunity to own a piece of paradise in an exclusive and secluded location.
Property Information
Lot Size
102,633 sqft square ft
Property Type
Residential
Year Built
2001
MLS Number
PV23202320
Location
Address
2 Buggy Whip Drive
City
Rolling Hills
State
CA
Zip Code
90274
County
LOS ANGELES (SOUTH BAY)
Listing
Provider
Keller Williams Palos Verdes Realty, original listing
Name
Keller Williams Palos Verdes Realty
Phone
(310) 544-6100
Office Name
Keller Williams Palos Verdes
Office Phone
(310) 544-6100
Agent Name
Stephen Haw

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HUD Foreclosures

HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest. The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered. VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

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Foreclosure Listings Increasing

As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale. This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments. Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.