Mary Cummins, Real Estate Appraiser, Animal Advocates, Los Angeles, California

Mary Cummins, Real Estate Appraiser, Animal Advocates, Los Angeles, California
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Wednesday, May 31, 2023

Jennifer Lopez JLo and Ben Affleck just bought Wallingford Estate at 2571Wallingford Dr Beverly Hills, California by Mary Cummins


Jennifer Lopez JLo and Ben Affleck buy Wallingford Estate in Beverly Hills for $60,850,000. The home is located at 2571 Wallingford Dr, Beverly Hills, California 90210. This is the City of Los Angeles aka Beverly Hills Post Office. It's not Beverly Hills. 

It was originally listed in 2018 at $135,000,000 then $85,000,000 then .... then $74,995,000. It was also listed for rent for $300,000 and $350,000 per month. The home is approximately 30,000 sf on a 226,513 sf lot per MLS. It could only be 22,163 sf per tax with 8 beds, 12 baths. The actual address is 2543 Hutton Dr. and 2543 1/2 Hutton Dr. Per one of the more recent listings,

"One of the most private and secured estates in Beverly Hills 90210 with stunning mountain views. The newly rebuilt & expanded Wallingford estate is spread over a 5-acre exclusive promontory. A one-of-a-kind indoor sports complex w/ basketball, pickleball, gym, boxing ring, sports lounge & bar all celebrate an active lifestyle & the love of sports. Located just 8 minutes from the BH Hotel & 20 minutes from Van Nuys private airport, both entrances can only be accessed through private/gated streets. Exquisitely designed & built w/ impeccable taste, the sophisticated & stylish estate infuses today's technology w/ magnificently refined rooms. Totaling approx. 46K SF under roof & approx. 38K SF under A/C & boosting 12 bedrooms & 24 bath, approx. 5K SF guest penthouse, caretaker house, 2-bdrm guardhouse, 10 car garage & parking for 80. The biggest zero edge pool in BH perfectly frames the extensive grounds & views. Additional property on private street also available separately."

It's only called the "Wallingford Estate" because it's on Wallingford Dr. The owner builder of the current home was Jeoung Lee. I do see a Jacob Wizman as the owner when it was being built. The architect was Richard Schwartz. It was built by Dover Hills Construction. Engineer was Leon Iancu. 

More recent photos from the MLS. 

















It was originally built in 1997-2000 and listed for sale in 2016 for $29,000,000 as 8 bed, 15 baths, 22,000 sf. The RealAVM value is $2-4 million :-D There was another home built there in the 70's which replaced one built 1947 by A.C. Pillsbury. That was a caretaker's house and a barn. The newer home was in French Provincial style and was built for Ilhie and Jeoung Lee, Paul D. Jeoung . The home was 124' x 106' with an unfinished basement and subterranean garage. I think they illegally added basement size to home size. They call it a basement because it's cheaper, easier to get permits but it's not legally gross living area. There is an ADU which is the caretaker unit which was once a storage barn. Just found a permit where they converted the basement to an ADU or at least tried to.

2019 permit for FULLY SPRINKLERED TWO STORY ACCESSORY LIVING QUARTERS W/ ATTACHED GARAGE. IRREG SHAPED BUILDING 132'-4" X 113'-3". I believe it was built previously and just permitted at this time.





It's in a homeowners association and is accessed off the end of a cul-de-sac. GPS 34.11887000139121, -118.43406722770074 APN 4382-009-005 . Tract is PM 1768 Parcel B.

Below are the basic plans for the home. They added foundation pilings years after the home was built. May have been an issue because property is in an earthquake fault with shale and clay. It's near the Hollywood fault line in a landslide and liquefaction zone. That's probably why it wasn't really built until more recently when finances and engineering made sense. Click to see larger.




This is the previous listing when it was French Provincial. The house looks the same size. I don't see a certificate of occupancy for any new size added to the home. I think it's still a 20,000 or so sf home with a caretaker residence, pool house and basement. That size is never added to the legal main dwelling size. I think the home may have just been remodeled. I'm still looking at permits most of which are under the Hutton address.







Mary Cummins of Cummins Real Estate is a certified residential licensed appraiser in Los Angeles, California. Mary Cummins is licensed by the California Bureau of Real Estate appraisers and has over 35 years of experience.


Mary Cummins, Mary K. Cummins, Mary Katherine Cummins, Mary, Cummins, #marycummins #animaladvocates #losangeles #california #wildlife #wildliferehabilitation #wildliferehabilitator #realestate #realestateappraiser #realestateappraisal #lawsuit real estate, appraiser, appraisal, instructor, teacher, Los Angeles, Santa Monica, Beverly Hills, Pasadena, Brentwood, Bel Air, California, licensed, permitted, certified, single family, condo, condominium, pud, hud, fannie mae, freddie mac, fha, uspap, certified, residential, certified resident, apartment building, multi-family, commercial, industrial, expert witness, civil, criminal, orea, dre, brea insurance, bonded, experienced, bilingual, spanish, english, form, 1004, 2055, 1073, land, raw, acreage, vacant, insurance, cost, income approach, market analysis, comparative, theory, appraisal theory, cost approach, sales, matched pairs, plot, plat, map, diagram, photo, photographs, photography, rear, front, street, subject, comparable, sold, listed, active, pending, expired, cancelled, listing, mls, multiple listing service, claw, themls, historical appraisal, facebook, linkedin. DISCLAIMER: https://mary--cummins.blogspot.com/p/disclaimer-privacy-policy-for-blogs-by.html
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Friday, May 19, 2023

Beyonce, Jay-Z new home at 27712 Pacific Coast Hwy, Malibu, California by Mary Cummins real estate appraiser

beyonce, Jayz, jay-z, mary cummins, real estate appraiser, real estate appraisal, malibu, los angeles, caliornia, 27712 pacific coast, pch, 27712, pacific coast highway, million, tadao ando, kurt rappaport
beyonce, Jayz, jay-z, mary cummins, real estate appraiser, real estate appraisal, malibu, los angeles, caliornia, 27712 pacific coast, pch, 27712, pacific coast highway, million, tadao ando, kurt rappaport


Beyonce and Jay-Z's new home is at 27712 Pacific Coast Highway, Malibu, California on Billionaire's Row. The musical couple purchased the property for over $200,000,000. It was listed at $295,000,000. The property has nearly six acres. The seller was William "Bill" Bell Jr., an art collector and son of the creators of soap operas “Bold and Beautiful” and “The Young and the Restless.” Kurt Rappaport of Westside Estate Agency represented the buyers and the seller. Bell commissioned prominent Japanese architect Tadao Ando to build the concrete, 40,000-square-foot mansion that overlooks the Pacific. Full address includes 27716 PCH.

The home was built in 2014 and does not appear to have a Certificate of Occupancy. Legal description is TR=12935 LOT 7 BLK 2. Assessor's parcel number is 4460-031-017. It last sold for $14,000,000 in 2003 when it was a 7,700 sf 8 bed home. February 2022 it had a $90,000,000 loan against it. It's 257,888 sf.

The pervious concrete was done by Architectural Pervious Concrete.

https://www.pacificpervious.com/news/2017/11/16/architectural-pervious-concrete-for-a-malibu-residence

Morley Construction built the home with Peter McCoy Construction. 

https://www.morleyconcrete.com/project-experience/bell-house/

Ando's Bell House

https://usmodernist.org/ando.htm

Under construction











beyonce, Jayz, jay-z, mary cummins, real estate appraiser, real estate appraisal, malibu, los angeles, caliornia, 27712 pacific coast, pch, 27712, pacific coast highway, million, tadao ando, kurt rappaport

beyonce, Jayz, jay-z, mary cummins, real estate appraiser, real estate appraisal, malibu, los angeles, caliornia, 27712 pacific coast, pch, 27712, pacific coast highway, million, tadao ando, kurt rappaport

beyonce, Jayz, jay-z, mary cummins, real estate appraiser, real estate appraisal, malibu, los angeles, caliornia, 27712 pacific coast, pch, 27712, pacific coast highway, million, tadao ando, kurt rappaport








Mary Cummins of Cummins Real Estate is a certified residential licensed appraiser in Los Angeles, California. Mary Cummins is licensed by the California Bureau of Real Estate appraisers and has over 35 years of experience.


Mary Cummins, Mary K. Cummins, Mary Katherine Cummins, Mary, Cummins, #marycummins #animaladvocates #losangeles #california #wildlife #wildliferehabilitation #wildliferehabilitator #realestate #realestateappraiser #realestateappraisal #lawsuit real estate, appraiser, appraisal, instructor, teacher, Los Angeles, Santa Monica, Beverly Hills, Pasadena, Brentwood, Bel Air, California, licensed, permitted, certified, single family, condo, condominium, pud, hud, fannie mae, freddie mac, fha, uspap, certified, residential, certified resident, apartment building, multi-family, commercial, industrial, expert witness, civil, criminal, orea, dre, brea insurance, bonded, experienced, bilingual, spanish, english, form, 1004, 2055, 1073, land, raw, acreage, vacant, insurance, cost, income approach, market analysis, comparative, theory, appraisal theory, cost approach, sales, matched pairs, plot, plat, map, diagram, photo, photographs, photography, rear, front, street, subject, comparable, sold, listed, active, pending, expired, cancelled, listing, mls, multiple listing service, claw, themls, historical appraisal, facebook, linkedin DISCLAIMER: https://mary--cummins.blogspot.com/p/disclaimer-privacy-policy-for-blogs-by.html
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List of banned AMC appraisal words by Mary Cummins real estate appraiser

banned real estate words, banned, real estate appraisal, mary cummins, real estate appraiser, los angeles, california, hud, fannie mae, uspap, freddie mac

Another appraiser posted this list of words appraisers can't use in their reports from an AMC. Most of these are obvious and I don't know anyone who would dare use the words. Others are complex as they have multiple meanings some being innocent and factual such as the following:

Age: This word is pre-printed on the form for age of home. I use age as years.

Black: We use this for color of floor, cabinets... Color number #000000? No other colors in the list.

Chinese: Chinese roof tiles also called "wa" in Chinese. We use for style but no more. Asian also not allowed.

Colored: Rose colored window pane, exterior. Pink?

Disabled: Disabled ramp, parking, rails. Physically challenged? Wheelchair bound?

Gentrification: The government uses the term. The correct term is the revitalization cycle of real estate.

Graffiti: We have to note if there is graffiti on a building. Maybe we can use spray paint or tagging? It must be removed before funding generally. They'll see it in the photos.

Handicap: See "disabled." Handicap parking, rails, ramps. Sometimes this is mandatory for certain types of buildings.

Hoarder: We see this all the time. I use cluttered. They'll see it in the photos.

Homeless: Tough when the property has a homeless encampment against the wall but one can use camping. Appraiser must state external factors. Photos will show it.

Homogenous: Can be used for types of homes but no more. I use similar.

Illegal: It's pre-printed on the form for use. I use not zoned, not permitted.

Japanese: Can be used for style of home or garden. No more. Maybe just "style?" 

Low income: There are some condos, apartments which are legally low income and can only be rented or sold to low income people. Lower income? Income range under $50,000?

Mature: I used to use it for trees but no more. 

Old: It was part of the form relative to age of homes in area. Now I use range of age in years.

Projects: Difficult when it's pre-printed on the condo form. I use complex.

Public Housing: Difficult when you are appraising public housing. Government sponsored works?

Spanish: It's an accepted style of home. Just type "style?"

Students: Sometimes it's student housing. Maybe people in school?

White: Color of paint, cabinets, carpeting, flooring. Color number #FFFFFF?

Just noticed "master" is missing as in master bedroom. I use main, en suite, bed 1...



Mary Cummins of Cummins Real Estate is a certified residential licensed appraiser in Los Angeles, California. Mary Cummins is licensed by the California Bureau of Real Estate appraisers and has over 35 years of experience.


Mary Cummins, Mary K. Cummins, Mary Katherine Cummins, Mary, Cummins, #marycummins #animaladvocates #losangeles #california #wildlife #wildliferehabilitation #wildliferehabilitator #realestate #realestateappraiser #realestateappraisal #lawsuit real estate, appraiser, appraisal, instructor, teacher, Los Angeles, Santa Monica, Beverly Hills, Pasadena, Brentwood, Bel Air, California, licensed, permitted, certified, single family, condo, condominium, pud, hud, fannie mae, freddie mac, fha, uspap, certified, residential, certified resident, apartment building, multi-family, commercial, industrial, expert witness, civil, criminal, orea, dre, brea insurance, bonded, experienced, bilingual, spanish, english, form, 1004, 2055, 1073, land, raw, acreage, vacant, insurance, cost, income approach, market analysis, comparative, theory, appraisal theory, cost approach, sales, matched pairs, plot, plat, map, diagram, photo, photographs, photography, rear, front, street, subject, comparable, sold, listed, active, pending, expired, cancelled, listing, mls, multiple listing service, claw, themls, historical appraisal, facebook, linkedin DISCLAIMER: https://mary--cummins.blogspot.com/p/disclaimer-privacy-policy-for-blogs-by.html
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Friday, May 5, 2023

Los Angeles MLS Releases 2023 Q1 statistics. Sales volume, median prices down. Mary Cummins Real Estate Appraiser

2023 Q1 market report median sales price and volume for single family homes, condos in Los Angeles, California. Leases, CLAW MLS, Mary Cummins, real estate appraiser, real estate appraisal, marycummins.com , 

CLAW MLS just released 2023 Q1 Market Report. Median price and sales volume of single family homes and condos is down. Lease median prices and volume is up a tick. Full report here. CLAW  Combined Los Angeles Westside.

https://forms.themls.com/forms/q1-2023-claw-market-stats.pdf






Mary Cummins of Cummins Real Estate is a certified residential licensed appraiser in Los Angeles, California. Mary Cummins is licensed by the California Bureau of Real Estate appraisers and has over 35 years of experience.


Mary Cummins, Mary K. Cummins, Mary Katherine Cummins, Mary, Cummins, #marycummins #animaladvocates #losangeles #california #wildlife #wildliferehabilitation #wildliferehabilitator #realestate #realestateappraiser #realestateappraisal #lawsuit real estate, appraiser, appraisal, instructor, teacher, Los Angeles, Santa Monica, Beverly Hills, Pasadena, Brentwood, Bel Air, California, licensed, permitted, certified, single family, condo, condominium, pud, hud, fannie mae, freddie mac, fha, uspap, certified, residential, certified resident, apartment building, multi-family, commercial, industrial, expert witness, civil, criminal, orea, dre, brea insurance, bonded, experienced, bilingual, spanish, english, form, 1004, 2055, 1073, land, raw, acreage, vacant, insurance, cost, income approach, market analysis, comparative, theory, appraisal theory, cost approach, sales, matched pairs, plot, plat, map, diagram, photo, photographs, photography, rear, front, street, subject, comparable, sold, listed, active, pending, expired, cancelled, listing, mls, multiple listing service, claw, themls, historical appraisal, facebook, linkedin DISCLAIMER: https://mary--cummins.blogspot.com/p/disclaimer-privacy-policy-for-blogs-by.html
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