{"page":"\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/resources-c03aa079.css\" /\u003e\n\u003clink rel=\"stylesheet\" href=\"https://lessonplanet.com/assets/packs/css/lp_boclips_stylesheets-af73c33d.css\" media=\"all\" /\u003e\n\u003cdiv data-title='Luxury housing market optimistic about Trump presidency' data-url='/boclips/videos/5c54d2ead8eafeecae1e584b' data-video-url='/boclips/videos/5c54d2ead8eafeecae1e584b' id='bo_player_modal'\u003e\n\u003cdiv class='boclips-resource-page modal-dialog panel-container'\u003e\n\u003cdiv class='react-notifications-root'\u003e\u003c/div\u003e\n\u003cdiv class='rp-header'\u003e\n\u003cdiv class='rp-type'\u003e\n\u003ci aria-hidden='true' class='fai fa-regular fa-circle-play'\u003e\u003c/i\u003e\nVideo\n\u003c/div\u003e\n\u003ch1 class='rp-title' id='video-title'\u003e\nLuxury housing market optimistic about Trump presidency\n\u003c/h1\u003e\n\u003cdiv class='rp-actions'\u003e\n\u003cdiv class='mr-1'\u003e\n\u003ca class=\"btn btn-success\" data-posthog-event=\"Signup: LP Signup Activity\" data-posthog-location=\"body_link_boclips\" data-remote=\"true\" href=\"/subscription/new\"\u003e\u003cspan\u003e\u003cspan\u003eGet Free Access\u003c/span\u003e\u003cspan class=\"\"\u003e for 10 Days\u003c/span\u003e\u003cspan\u003e!\u003c/span\u003e\u003c/span\u003e\u003c/a\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-body'\u003e\n\u003cdiv class='rp-info'\u003e\n\u003cdiv aria-label='Hide resource details' class='rp-hide-info' role='button' tabindex='0'\u003e\u0026times;\u003c/div\u003e\n\u003ci aria-label='Expand resource details' class='rp-expand-info fai fa-solid fa-up-right-and-down-left-from-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003ci aria-label='Compress resource details' class='rp-compress-info fai fa-solid fa-down-left-and-up-right-to-center' role='button' tabindex='0'\u003e\u003c/i\u003e\n\u003cdiv class='rp-rating'\u003e\n\u003cspan class='resource-pool'\u003e\n\u003cspan class='pool-label'\u003ePublisher:\u003c/span\u003e\n\u003cspan class='pool-name'\u003e\n\u003cspan class='text'\u003e\u003ca data-publisher-id=\"378271\" href=\"/search?publisher_ids%5B%5D=378271\"\u003eAssociated Press\u003c/a\u003e\u003c/span\u003e\n\u003c/span\u003e\n\u003c/span\u003e\n\u003c/div\u003e\n\u003cdiv class='rp-description'\u003e\n\u003cspan class='short-description'\u003eUS: TRUMP HOUSING SOURCE: AP HORIZONS, LIFESTYLE, HEALTH AND TECHNOLOGY RESTRICTIONS: HORIZONS CLIENTS AND AP LIFESTYLE, HEALTH AND TECHNOLOGY CLIENTS ONLYLENGTH: 5:53SHOTLIST:AP Television Los Angeles, California, US - 17 January 20171....\u003c/span\u003e\n\u003cspan class='full-description hide'\u003eUS: TRUMP HOUSING SOURCE: AP HORIZONS, LIFESTYLE, HEALTH AND TECHNOLOGY RESTRICTIONS: HORIZONS CLIENTS AND AP LIFESTYLE, HEALTH AND TECHNOLOGY CLIENTS ONLYLENGTH: 5:53SHOTLIST:AP Television Los Angeles, California, US - 17 January 20171. Wide of palm trees and buildings in background2. Wide of Greater Los Angeles area from mountaintop3. Mid of homes in Hollywood Hills4. Mid of two mansions in Hollywood Hills5. Pull out from house on hill6. Wide of street in Hollywood Hills7. Set up Karen Misraje, President, Beverly Hills Greater Los Angeles Association of Realtors 8. Pull out from painting to house in the hills9. Wide of view backyard of luxury house in the hills 10. Wide of Greater L.A. basin with palm trees in foreground11. Wide of house in the Hollywood Hills12. SOUNDBITE (English) Karen Misraje, President, Beverly Hills Greater Los Angeles Association of Realtors:\"We're always going to be consistent which means we're always going to be doing well in the sales. Now, if the new administration changes the tax laws and we happen to bring in 5 trillion dollars of offshore profits, corporate offshore profits, that's going to bring the money that needs the infrastructure of this country which will then means jobs, people making money, more taxes are earned and that's good. OK, so yes they remain to be seen but the first thing I did when he was elected is I went to a financial station at 2 o'clock in the morning and the stock market was down during the day of the election but at 2 o'clock in the morning the market was up.\"13. Wide of Greater Los Angeles 14. Mid of houses in the Hollywood Hills15. Set up of Chip Ahlswede, CEO of Beverly Hills Greater Los Angeles Association of Realtors16. SOUNDBITE (English) Chip Ahlswede, CEO of Beverly Hills Greater Los Angeles Association of Realtors:\"The feeling is good. People are confident in this market. They see a lot of really fast sales. They see that prices are increasing. They don't see them outpacing people's incomes. They're not in a situation where people are over leveraging themselves. All in all people feel very good about this market.\"17. Wide of luxury house in the Hollywood Hills18. Wide of kitchen dining area in house in the hills with view in background19. Wide of kitchen area and sitting area in background 20. Wide of Beverly Hills21. Mid house under construction in the hills22. Set up David Kramer, Executive Vice President, Hilton and Highland23. Wide of 9200 Swallow Drive luxury house exterior24. Wide of living room and patio25. Pull out from modern chandelier to dining room 26. Wide of back terrace area27. Wide of pool28. SOUNDBITE (English) David Kramer, Executive Vice President, Hilton and Highland:\"Before the election there was a kind of collective holding of everyone's breath. Kind of a 'we're not sure what's going to happen'. I think there was unpredictability about the future. What's going to happen with tax laws, what's going to happen internationally and as we kind of saw with the stock market, there was a collective sigh and business kind of got back to normal. If anything there was kind of a pent up demand from people not buying homes and all of a sudden we just saw this tremendous increase of volume. For example, the three months preceding the election, we had about $60 million dollars in sales, that's in four areas of the West Side, afterward we had $211 million dollars in sales.\"29. Set up Grant Linscott, realtor, Keller Williams Realty30. Exterior of house31. Wide interior of kitchen32. Tilt down and pan of a luxury bathroom33. SOUNDBITE (English) Grant Linscott, realtor, Keller Williams Realty:\"People were wait and see for about a week afterwards. There was that knee jerk reaction. Now people are tired of waiting. High end buyers, I saw a 19 million dollar buyer just go into escrow very excitedly. His words. He was tired of waiting.\"34. Set up Sacha Redford, The Agency, Director of the Residential Estates Division 35. Wide exterior of 1307 Sierra Alta Way in the Hollywood Hills 36. Wide exterior of back area of house37. Wide interior of second floor38. Pull out form sculpture to wide of living room39. Wide of master bedroom 40. Pan from backyard view to hallway 41. Wide of man cave interior basement42. Mid of viewing garage from inside house 43. Tilt down of exterior to viewing garage 44. SOUNDBITE (English) Sacha Redford, The Agency, Director of the Residential Estates Division:\"Well L.A. has become the trendiest most glamorous city to invest in. So we have buyers form all over the world looking to live here. With globalization and the advancement of technology, every business can operate in LA. You don't need to be in London or New York specifically if you want to do business, you can go to the beach here and then go home and do a Skype meeting from your beautiful hillside estate and so we really didn't feel an impact from the election. In fact we saw more sales between summer fall and winter then we did the previous year.\"45. Pull out from the Hollywood sign LEADIN: The US housing industry is waiting to see how a Donald Trump presidency will shape the industry's fortunes. In the celebrity enclave of Los Angeles, demand for luxury homes is running hot and the industry remains optimistic. Real estate analysts are hoping Trump's business background will boost housing market sentiment. STORYLINE:An iconic view across Los Angeles from the famous Hollywood Hills. Luxury houses here are in hot demand, especially for their million dollar views. Estate agents say the market has shown strong signs of improvement since the November election won by Donald Trump. There's optimism among some in the industry that a Trump presidency could be good for the real estate market because of his business background. While the president-elect has given no specifics about policy, he has indicated that he might decrease regulations on housing construction and that could lead to improvements for supply and inventory shortages.No matter what changes come, top luxury realtors in Los Angeles predict the market will remain robust and expect even more improvement.\"We're always going to be consistent which means we're always going to be doing well in the sales,\" says Karen Misraje, President, Beverly Hills Greater Los Angeles Association of Realtors. \"Now, if the new administration changes the tax laws and we happen to bring in 5 trillion dollars of offshore profits, corporate offshore profits, that's going to bring the money that needs the infrastructure of this country which will then means jobs, people making money, more taxes are earned and that's good. OK, so yes they remain to be seen but the first thing I did when he was elected is I went to a financial station at 2 o'clock in the morning and the stock market was down during the day of the election but at 2 o'clock in the morning the market was up.\"Misraje says in LA the only problem is a shortage of houses to sell because of increased US and worldwide demand. That results in higher prices and multiple competing bids for luxury homes.Research by the leading online real estate marketplace Zillow shows the LA luxury market remaining strong in 2017. It predicts that home values will increase by between four and five percent this year. Chip Ahlswede, CEO of the Beverly Hills Greater Los Angeles Association of Realtors, says while there is still some uncertainty, realtors remain confident for the future. \"The feeling is good. People are confident in this market. They see a lot of really fast sales. They see that prices are increasing. They don't see them outpacing people's incomes. They're not in a situation where people are over leveraging themselves. All in all people feel very good about this market,\" says Ahlswede.Overall in the USA, economists predict mortgage rates will continue to climb in 2017 which could be challenging for some home buyers. Analysts from Realtor.com, the official site of the National Association of Realtors, say they expect LA to record the second strongest growth after Phoenix, Arizona. The association says the current number of homes on the market in LA is insufficient to meet the demand, even though supply is increasing.David Kramer, Executive Vice President of boutique agent Hilton and Highland, says luxury sales increased once Trump was voted in.His firm is selling this home on Swallow Drive, in the Hollywood Hills for just under US$17 million. The 7 bedroom, 8 bathroom home has ocean and mountain views and has luxury fixtures and fittings. Kramer says he expects the house will sell quickly in today's strong luxury market.\"Before the election there was a kind of collective holding of everyone's breath. Kind of a 'we're not sure what's going to happen'. I think there was unpredictability about the future. What's going to happen with tax laws, what's going to happen internationally and as we kind of saw with the stock market, there was a collective sigh and business kind of got back to normal. If anything there was kind of a pent up demand from people not buying homes and all of a sudden we just saw this tremendous increase of volume. For example, the three months preceding the election, we had about $60 million dollars in sales, that's in four areas of the West Side, afterward we had $211 million dollars in sale.\" Grant Linscott, a realtor at Keller Williams Reality which services Hollywood, Hollywood Hills, Beverly Hills, Belair and Holmby Hills says many people waited until after the election to act. \"People were wait and see for about a week afterwards. There was that knee jerk reaction. Now people are tired of waiting. High end buyers, I saw a 19 million dollar buyer just go into escrow very excitedly. His words. He was tired of waiting.\" Sacha Radford, Director of the Residential Estates Division at The Agency, another luxury realtor, says there has been no market slowdown. She says luxury sales have remained strong before and after the election. One of her latest listings is this property at Sierra Alta Way in the Hollywood Hills above the famed Sunset Strip. It has 5 bedrooms, 10 bathrooms, a 'man cave' and a viewing garage across 13,820 square feet. It is priced at US$ 18.8 million. \"Well LA has become the trendiest most glamorous city to invest in. So we have buyers form all over the world looking to live here. With globalization and the advancement of technology, every business can operate in LA. You don't need to be in London or New York specifically if you want to do business, you can go to the beach here and then go home and do a Skype meeting from your beautiful hillside estate and so we really didn't feel an impact from the election. In fact we saw more sales between summer fall and winter then we did the previous year,\" says Radford.While much of the US is still waiting to see how a Trump presidency will play out in regards to housing, it seems LA realtors are banking on a bright future ahead. ====Clients are reminded: (i) to check the terms of their licence agreements for use of content outside news programming and that further advice and assistance can be obtained from the AP Archive on: Tel +44 (0) 20 7482 7482 Email: info@aparchive.com. 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