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As you might well imagine, there are more than just a few million dollar homes in L.A. The city, home to some of the biggest and brightest of the celebrities and movie stars, is also home to some of the most expensive houses in the world. Los Angeles, a stones throw from celebrity heaven and Hollywood’s haven for the rich and famous, has more than its fair share of homes that are worth, quite literally, an arm and a leg. If you’re looking for million dollar homes in L.A., you won’t have far to look,. They are, or so it seems, on nearly every block, with of course, the most famous and most impressive lying in areas such as Bel Air, Hollywood, and Malibu. USA Today reported that there are just 51 thousand million dollars homes sale los angeles in the United States, and that of those, more than 60 percent are in California. That leaves just a few over 17 thousand for the rest of the country. Guess where many, if not most of those million dollars homes are situated? That’s right, you guessed it, Los Angeles. Some of the million dollar homes in L.A. include those which are currently owned by Flea, which is on sale for the low low price of about 13 million dollars give or take a few. If you have the cash you might also want to take a look at the mansion owned and for sale by Shannon Doherty, of Charmed fame, which current asking price is about 4. million. The real estate in Los Angeles is not based solely on the large size of the lot, although this is of course a big part of the draw. A million dollar home in Los Angeles does have a large lot for you to work with, which is uncommon in the area, but will also have some of the best amenities and the most unusual things as part of the home that makes it well worth that million dollars. Take for instance one home which we took a look at. The garage has an elevator that is capable of lifting your car to the second and third levels of the parking garage that is part of this remarkable home. Technology such as this doesn’t come cheap and is part and parcel of the reason for this being a million dollar home in Los Angeles. When it comes to big ticket houses, they don’t come much better than those which are available to you in Los Angeles. Former homes to celebrities of course retail better and offer more perks, but is that the reason why they will sell for such a high price and do they always retail for that? Not always actually. Many of the million dollars homes in Los Angeles will, simply by virtue of their price, stay on the market for many years. While the homes themselves are perfect in every way, the fact is that not everyone can afford this kind of home. The glamour of Hollywood, Beverly Hills and Sunset Strip make Los Angeles, California an alluring destination. If you “Love LA” and are thinking of heading to Los Angeles, consider this snapshot of the city. Los Angeles is the second biggest city in the United States with an estimated 3,845,000 people. The metropolitan area is also the second largest in the country, approaching 14 million residents. Los Angeles is a very large area, encompassing 469 square miles. So big, it contains mountains high enough to offer winter skiing at times when surfers are riding waves at the beach. The city has some notable communities within its boundaries and thirty suburbs with populations of 80,000 residents or more. You won’t be far from places like West Hollywood, Beverly Hills, Burbank or Santa Monica houses for sale los angeles allure includes its downtown, shopping and dining, beaches, mansions and canyon homes. But beneath it all is a troubled, racially divided city with high crime, poverty and cost of living. Los Angeles has one of the largest Hispanic populations in the country. U.S. Census statistics in 2000 revealed 46.5% of the population was Hispanic, 29.7% White Non-Hispanic, 11.2% African-American, and 10% Asian. Many foreign-born citizens have been picking Los Angeles, making up 40% of the city’s diverse racial population. The average age of residents is about three years below that national average of 36.4. Crime has been high in Los Angeles but trending downward, nearing the national average in 2005. The number of murders dropped from 654 in 2002 to 489 in 2005. House values in Los Angeles and much of California have risen beyond affordable. The median home value in LA rose from $221,600 in 2000 to $513,800 five years later. The Los Angeles metro area was dubbed the least affordable place in the country to buy a home in 2005. According to Wells Fargo and National Association of Home Builders, just 1.8% of houses for sale were affordable to those earning the city’s median income. Less than 40% of all homes in Los Angeles were owner-occupied, extremely low considering a 66.9% rate for the entire U.S. For renters, prices typically start around $1200 a month in outlying areas for one-bed studio apartments to $2500 and more in popular areas.
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