Million Dollar Listing Los Angeles

Million Dollar Listing L.A.

Episode 5 – It’s Personal!

by Vilzvet

The Altman brothers, Matt and Josh,  receive a first offer of $8.7 million for the unfinished house on Oak Pass featured in the last week’s episode. The brothers try to brainstorm a acceptable counter-offer that they will discuss with the developers, who happen to be friends of their parents. They know this initial offer will be a bit of a disappointment.

Madison meets with new client Sharon, who has a gorgeous Malibu home in its most desirable location with features such an imported French fireplace, and  custom oak cabinetry with those awesome food storage bins I covet. Unfortunately, the beautiful landscaping is being ravaged by local deer. The woman is stuck with a high interest  private construction loan that is coming due in a few short months, and she now wants to unload the house. She could possibly lose the home if she doesn’t list the house for at least $3 million. They agree on a starting point of $3,275,000.00.

Josh Flagg attends a Bel Air birthday party of childhood friend Brandon. He mingles with many of his old high school classmates, most of which he has simply no recollection of. He paints himself as somewhat pretentious and arrogant as a spoiled rich kid that no one liked, but he seems to having a very nice time. Brandon later informs Josh that the home they are standing in, built together with his parents, could be a possible next listing for Josh. The men agree to get together to discuss listing the house.

Josh A. and Matt sit down with the Oak Pass developers, Warren and Denise. The listing price is $9.9 million, so this initial offer of $8.7 million is a bit low. They encourage the developers to try to counter this with $9.5 million to test the integrity of the offer. Josh knows that any offer over $9 million will be very close to what will satisfy their clients. They plan to present this counteroffer to the potential buyer.

Josh F. heads to Bel Air to meet Brandon’s parents at their beautiful “Florentine villa” home. It is 8.400 sq. ft., has a marble kitchen with Wolfe applicances, 6 bedrooms, 7.5 baths, a movie theater and wine cellar. Albert and Mimi believe their home is now worth close to $10 million after their painstaking design and construction, but Josh explains that it is probably in the $8 million range. Albert is hoping his special home would fetch more. Josh would like to list at $7.5 million. Albert and Mimi seem to be a bit hesitant but ultimately agree to list.

Back in Malibu, Madison knows he has to get rid of the pesky critters who are terrorizing his client’s plants and shrubbery. He actually brings something called “Coyote Urine” which supposedly will ward off the deer. Madison dons exterminator gear to apply the stuff himself, too funny.

A brokers’ open is later set up in Malibu for Sharon’s home. Two and a half months are all she has to sell her property before the high interest loan kicks in. Madison feels confident progress has been made in finding a buyer.

Josh F. begins to market Brandon’s home. He feels quite confident it will sell rather quickly. He sets up a snackfest in the kitchen for any visitors. Josh meets many new brokers who seem to appreciate the fantastic features of this home.

Josh A. and Matt contact Sam, the buyer’s agent for Oak Pass.  They inform him that $9.5 million is their counter offer. Sam is firm that his client can go no further than $9 million. They promise Sam to get back to him as soon as possible. The brothers call Warren and give him the news. Warren says it is not enough, but he has a new, even larger construction project in the planning stages in Aspen that would require the money from the sale of this house. He tells the brothers to counter offer at $9.1 million and he would accept that.

Josh F. has an offer of $7.4 million for the Bel Air home. Brandon’s parents are not pleased with such a low offer and do not even want to create a counter offer.

Josh A. lies and tells the potential buyer that $9.3 million is their counter offer, not $9.1 million. Matt is enraged when the phone is hung up and says his brother is going to kill the deal. Josh believes in his strategy. Sam calls back and informs the brothers that his client accepted the deal! The brothers call Warren and Denise with the great news that they have made them an additional $200,000.00.

Back in Bel Air, Josh F. is informed by Brandon’s parents that they have had a change of heart and will be taking their home off the market. They explain it took two years to build and they would like to enjoy it for a little longer. Josh completely understands their emotional attachment and tells them to please consider him for their selling needs in the future.

Madison decides to  make available Sharon’s home for lease as well as purchase. It would be for $10,000.00 per month with an option to buy. This will help Sharon pay her huge loan until a sale is completed.

The Altman brothers sit down and try to figure out if they could merge their businesses and work together full time. They know each has different selling styles and each would have to change a bit, but it would make sense to double their talents. Josh does not want his girlfriend Heather to join in this new venture, as he doesn’t want to jeopardize their relationship. He knows he would have to make her understand his feelings and how important she is to him. The boys agree to form a partnership.

Madison receives a verbal rental offer of $7,500.00 per month for Sharon’s house. Madison knows it is too low for that exclusive area and urges the broker to increase his client’s offer. Sharon is disappointed with the low amount, which would not cover her high interest loan. She hopes Madision will  be in touch with better news, or she could potentially lose her home.

Josh F. meets with his mother Cindy and tells her about his experience with his childhood friend Brandon’s house saga. Cindy says it must have been great for them to see the seventh grade misfit in his new role and how proud she is of him.

Madison’s latest rental offer is only up to $8,500.00. He asks the opposing agent if their client would be able to pay the $8,500.00 per month one year in advance, or $102,000.00 total. The agent calls back with the acceptance of the new terms. He calls Sharon with the news. She hesitates at first but realizes how much more secure it would be to have that much cash in advance to use at her disposal. She agrees to the deal!

Next week’s sneak peek promises to bring some fireworks when Heather finds out about the Altman brothers’ new business deal.

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About Veena (NMD)

Just a housewife ... who loves this place .... and loves to write ... You can reach me through this email: nomoredrama8@gmail.com. Lynn's Place is in tribute to Housewives blogger Lynn Hudson, who passed away in August of 2012.
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159 Responses to Million Dollar Listing Los Angeles

  1. Powell says:

    Good morning everyone. It’s Friday eve. 🙂 AZGirl your temps are around 107 I saw. I hope you’re doing ok. Everyone have a great day.

  2. ladebra says:

    Great job Vilzvet. I didn’t get to watch, but I can totally picture this episode with your blog.

    It’s hot 😦 I don’t like it 😦 and it makes me whiney and tired 😦 …. Ok, whining over!

  3. Powell says:

    Vilzvet I haven’t watched yet. Sounds like a good epi. I don’t know if Josh & Matt can work together long term. Josh is too arrogant IMO. We shall see how this partnership affects Heather & Josh’s relationship. I don’t like Josh for Heather & don’t like how his influence has changed her. But we shall see how long it lasts.

  4. plainviewsue says:

    Both Teresa and Jacq tweeted last night they were happy. Teresa tweeted going to sleep happy. Jac tweeted great day, but very long. No tweets from anyone else as of yet.

    Andy tweeted the reunion lasted 15 hours & he was wasted.

    If Teresa is happy, maybe for once, others were truly held accountable and it wasn’t a Teresa witch hunt. But then again, who knows what editing will do. I am sure it will be a three part reunion. So 15 hours down to three hours, plus commercials.

    • Or is Teresa happy she’s home with her girls?
      I’d like to think the cast turned it around on Bravo and didn’t fight – like the ATL ladies did the year AJ passed and they weren’t being paid for the reunion. Watching NeNe hold in her comments on Kim’s warbling of Tardy with the Party was priceless.

    • Powell says:

      Hmmm. Tre being happy does sound like she got to say her piece & people where held accountable. Jac being happy could mean something entirely different. Maybe Chris cracked open one of those bottles of wine & Jac was on a wine high.

  5. Great recap Vilzvet! Watching Josh F and Madison is always a treat! LOL to a Josh A partnership, with his brother no less – is this supposed to make viewers like Josh A better? Are we going to be treated to another Bravo version of family fight club? Will Josh A have to appease Heather with a ring when she finds out how much she means to him by not letting her know about his new partner arrangement? LOL – poor Heather really can’t catch a career break with the MDL LA crew!

  6. TexasTart says:

  7. Cusi77 says:

    Good Morning Everyone! Thank you Vilzvet for your Recap! Super, as always!

  8. Orson says:

    Weekly chat tonight at 9 pm eastern http://www.chatzy.com/respectforlynn

  9. AZGirl says:

    Good morning everyone! Thank you Vilzvet for the recap. I wonder if that scene with Josh A and Matt giving the counteroffer was scripted. I can’t imagine that the Buyer after watching that would be pissed that he paid $200,000.00 more than necessary. Buyers and Seller’s must sign some kind of waiver to be on the show.

    I saw the post on FB about the assault hearing for Chris, Jac, and Joey being postponed. I am amazed at Bravo making Teresa and Joe to be the “bad guys” but it is Joey, Chris, Jac, Ashlee and the Manzo boys that keep getting arrested in real life for violent behavior. What is wrong with these people?

    You would think the fight in Punta Cana was enough. No. Joey attacks Joe at the retreat. Ashlee attack Danielle at the Brownstone. Joey attacks everyone at the christening. Chris, Jac and Joey attack Bulldog at Kim D’s opening. What do they have on Bravo that Bravo can’t get rid of them? Why would Bravo risk someone really getting hurt for drama? I hope the other shoe drops and Laurita get hammered by the Feds.

    • Jules says:

      just don’t want the other shoe to be a high heeled one dropped by Jac on my head. She is a vicious shoe dropper

    • Jules says:

      I think the deals are now done and signed well before they shoot tape. just an act of drama scripted for the show about the deal. miss old days when it was real. Sometimes I think the houses are not really even for sale just all hired players.

    • Rebecca says:

      For once I’m going to defend the Altmans. It’s their fidicuary duty to act in the best interest of their clients, the sellers. They are under no obligation to to lowball them for the buyers’ sake.

      • AZGirl says:

        @Rebecca: Did you see that news report of the ASU student being beaten in the elevator. WTH? They have all three suspects under arrest. No update on the condition of the victim. The parents of the victim are pressing charges. Thank god. The District Apartment complex is privately owned. I remember the start of last year the Tempe Police had a terrible time keeping the partying under control in those new complexes on Apache. First Born look at those apartments so he could be closer to campus. They are freaking expensive. I pay less on my monthly mortgage payment.

    • Powell says:

      AZGirl the developers said they would accept $9.1 mill but if J & M could get more then why shouldn’t they? It was risky since the buyer said $8.9 mill. I bet after the house was completed it is now worth at least $10 mill.
      I want to see what happens w/Chris & Jac too. What they did was equally reprehensible as what Joe & Tre have done. I’m not gloating about any of it. Right is right. And there’s no way around it.

      • AZGirl says:

        Yes I understand that they were trying to get the most for their clients. I am not questioning what the Altmans were doing. I am wondering how those buyers are reacting to the filming if it is not scripted.

    • Jill...no not THAT Jill says:

      She was on a reality show but she never watched a reality show? She did Dutch Women of Hollywood” bit I’m supposed to believe she never watched RH??? I ain’t buying it! I think she had a pretty good idea about who everyone was when she started filming-she had to do some research!

      • BB says:

        She could have gotten all her “research” done through social media or gossip without ever having to “technically” watch the show. Not saying she didn’t watch it, but she didn’t have to if she wanted to find out all about it.

        • Jill...no not THAT Jill says:

          That’s true…but who wouldn’t watch when they are going to be on? Especially if they already did a different reality show?

  10. I said I’d blog the Behind the scenes or whatever that disaster of a RHOOC was called.
    I’ll type up something tonight for NMD or MTH to post for your enjoyment for a TGIF chuckle.
    I really like this season of MDLLA and even though Josh A is a slimey slimeball it’s tolerable. I like Madisson and Josh F. It was fun seeing them both doing things out of their comfort zone. Coyote urine and “kinda like a reunion” party. The pictures of Josh F as a youngster was great.
    Today my boss asked me to find “Pipe and Drape” for some store fronts that are not open yet. I had no idea what he meant until he explained it to me. Now I’ve got a list for him. He wants to keep it local so we will support businesses in our state. I like that.
    A friend on my Twitter informed me her Mom died this morning. Please keep her in your prayers. Even though she knew she was dying it is so very hard to see life without her Mom in it. I don’t recall if I met her thru Lynn or not.

    • Powell says:

      Diana I look forward to your blog. Now you have to explain what “Pipe and Drape” is. I have no idea. 🙂
      I’m sorry your friend loss her mom. Even though they were prepared for it to happen I’m sure it was still a shock. Bless your friend & her family.

  11. Nancy says:

    Lamar Odom entered Rehab this morning. 🙂 Good for him.

    • Powell says:

      Yes that’s good. I heard on the radio yesterday that his drug dealer is talking in the media about what he used, how often, how much he spent. I hope the police hunt him down.

    • lulu says:

      Wonder what pushed him over the edge? Seemed happy content on the show.

      • Nancy says:

        His MIL!!!!!

      • Powell says:

        He really didn’t shoot a lot of The Kardashians, never did Kourtney & Kim. He of course regularly filmed Khloe & Lamar.

        • Nancy says:

          I actually really like him and I hope he gets the help he needs. His father is an addict
          so Lamar had a horrible childhood. 😦

      • djprincessc says:

        Lulu, he had a rough past few years, besides a pretty rough life. His mom died from cancer when he was young and his father is actually a drug addict as well. His son that he had with another woman died right before he married Khloe I think and 2 years ago his cousin was killed in a car accident and I know the whole trade with the Lakers was rough for him and then he got cut by Dallas. I think hes a very sensitive man and just couldn’t handle everything anymore.

    • chismosa says:

      He only entered rehab because its what the lakers said that he’d have to do in order for them to have him on their roster.

      I hope he really wants to be in rehab.
      Don’t know but I doubt it. I think he just wants to save the last years of his career.
      Sorry, come from a big nba house

      • djprincessc says:

        Chismosa,

        I think his career is over. Hes older now and his heart doesn’t seem to be in it as much anymore, did you see the way he behaved when he was with Dallas?? I’m not a fan of Odom really and I don’t dislike him. He’s whatever to me. I do hope he gets help though :/

        • chismosa says:

          I think it’s all over too DJ.

          I have a bad feeling of what’s happening. He doesn’t seem to have future plans set. I think I smell bad sad news I hate to say.

          • rabblerouser2010R says:

            I wish Lamar a successful recovery and I do think his relationship with his wife is sincere and legitimate but at the same time, I hope his will appreciates he has 3 minor children who are dependent on him.

            I actually have more respect for Khole than I do for her ‘mother’ Kris. Given that Kris pimps out her own children for a buck…I don;’t think she would have the slightest issue in having a heir apparent such as minor children screwed over so her greedy hands could get a cut of someone else’s money.

            • chismosa says:

              I feel a bit for Khloe. I do. But he has supposedly cheated a bit on her recently. And yes, the mother is awful.
              Totally agree with you there !

  12. lulu says:

    Hello everyone!!! Dealing with a out of no where fly explosion. My dog is going insane he hates the buzzing sound. But has killed a few already. I buy lots of produce from the farmers market so no surprise there. Just stinks!!!

    Thanks vilzet awesome recap. I only caught up to the coyote pee part. Notice the pho gold bars behind altman’s desk? It looks stupid just for the heck of it estimated about 3.2 million usd of gold. Its obviously not real just tacky.

    • catmom1 says:

      lulu, there are two things I’ve used in the past to clear out the flies fast. The first is plain old fashioned fly tape/ribbon. Hang it near a window if possible or a light. Works like a charm. You’ll be amazed at how many flies you’ll have the next morning. The other thing that works well for fruit flies/gnats is to take a container or glass, fill it part way up with something like cider or something sweet and sugary. Cover the top of the container with plastic wrap and use a rubber band to hold it onto the container. Poke a few holes in the container for the flies to go into the home made trap. They fly in, then can’t get out. Both methods are pretty cheap and effective. Good luck.

  13. TexasTart says:

  14. TexasTart says:

    He dropped the “Bravo” is his twitter name.

    • VV says:

      Is he leaving Bravo?

    • chismosa says:

      No one in the world had taken that handle before on twitter ?
      That’s odd

      Such a common name

      • VV says:

        That reminds me…somebody was asking why Ashley Holmes changed her name to Ashlee. I thought I read somewhere that the reason was the Twitter handle AshleyHolmes was taken already… Don’t know if this is true but it’s possible.

  15. Mene Seela says:

    Vilzet, thanks for the blog. I seldom watch MDL but I enjoyed your recap.

    I’m confused about the Malibu house’s expensive “construction loan” coming due. Aren’t those loans typically refinanced as regular mortgages when the home is completed? Usually the interest only is paid during the building phase then the balance due is converte to a standard loan.

    Something isn’t right about this…. or that homeowner woman made a stupid financial arrangement.

    • AZGirl says:

      I am thinking that the balloon payment is due on the construction loan and maybe the appraisal came in low for a refinancing? Rebecca would know.

    • Belle says:

      Mene, not all construction loans convert automatically to a standard loan. And if the construction loan had the option to convert, but had conditions that the borrower couldn’t meet, the borrower could be in trouble.

      • vilzvet says:

        The owner Sharon did state that she had to turn to “private financing” to be able to build the home. God only knows what that could be, yikes! It definitely wasn’t your usual construction loan, and the interest was sky high, in double digits.

        • Orson says:

          That pretty much backs up what Mene Seela said upthread.” …that homeowner woman made a stupid financial arrangement.”

  16. AZGirl says:

    Manzo-thon on Bravo this afternoon. Memo to Bravo. We don’t care about the Manzo’s.

  17. Nancy says:

    Zimmerman’s wife has filed for divorce. Big surprise.

  18. chismosa says:

    Lamar’s out of rehab already

  19. VV says:

    One of Melissa’s a lot older sister tweeted:

    CONGRATS to my big sis @kimpirrella making her off Broadway debut as LUCIA in My Big Gay Italian Wedding 10/12-10/13 Telecharge.com

  20. Nancy says:

    BB…where are you? It’s no fun watching it alone.

  21. VV says:

    @giggythepom: http://t.co/tfMkpWoZ7w too many margaritas …glad to be home.

    Original Message:

  22. VV says:

    @catommanney: Happy Monday peeps! Have a great week 🙂 I start working soon – how am I going to leave this face? She better come! http://t.co/tl7ismWS76

    Original Message:

  23. VV says:

    @NaughtyNiceRob: Bethenny new talk show (she brings up her divorce within the first 20 seconds – howling) http://t.co/QSFr33rwTY

    Original Message:

  24. chismosa says:

    I’m going to be surprised if Dandy doesn’t book Beth for his first week back next week …..
    And she has to have HIM on

    An article I read said her favorite part of Long Island is Sag Harbor(along with Montauk of course) – where Andy has his home. I hope someone stole his Buddha again from his backyard ! Lol 👻

  25. chismosa says:

    Bethenny on Jimmy Fallon tonight.

    Kit and VV don’t miss out. 💩😽👧😋😋😆

    • California35 says:

      Thank you!!!!

      I will try to record it!

      I wonder if i can find the 30mim special u all were talking about earlier.

      • chismosa says:

        Hi Cali- kit said she found hers on Sunday I believe ?i just found mine Friday, tomorrow (or today) in the early afternoon.

        I just searched along the channel line that her show will broadcast on …. That’s how I found it

    • kit9 says:

      Holy hell! Fallon? That’s big time. I tore myself away from the post game wrap just in time to catch this! Thanks

  26. New Post (Huge storm – posting before power goes out)
    http://wp.me/p2FHcY-2mA

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