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Million Dollar Listing LA - General Discussion


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2 hours ago, QQQQ said:

I was thinking along the lines of international hand model.

Now, now... don't make fun. I did hand modeling for department store advertising and catalogs in my younger days when gloves were a popular accessory. My hands are very slender and fingers long and thin. I have naturally long fingernails and wear a size 3 ring. The pay wasn't great, but I got free manicures for photos that included bracelets and watches.

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35 minutes ago, Tess23 said:

One more contrived episode like this (bratty kids up to hijinx, co-lister nightmare), and no more LA for me. New York is more fun anyhow.

Totally agree. I just want to see homes I will never be able to afford and maybe a bit of the realtors lives. No stupid hijinks or fake drama 

I knew tho when the show kept pretending Fredrik is just starting in LA that it was going to be a not great season.

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In a six degree of separation moment, it turns out that my BFF's good friend is currently selling her home on Linda Flora Drive which is located a few houses down from the home on Linda Flora which is one of the homes on this week's episode. 

It is being listed by Tracy in another six degrees moment.

When I checked out the listing David Parents and James Harris are listed as part of Tracy's team. I thought this was rather odd because I thought agents working on a "team" were somewhat lower in status than the "team leader" and I had assumed David and James were of equal or higher status as brokers. 

Homes in those high locations really are not very convenient to actually live in because it is such a drive up and down. Also I am more of a fan of city views from the hills rather than views into the canyons although I guess that is personal taste as my home does have views which encompass both the Hollywood Hills to the north and downtown LA to the south.

I love looking at real estate porn and noticed that our hard working tax dollars helped pay for the recent purchase of a $20.9 million home in the hills by the son of the former Afghanistan defense minister. What makes the whole thing even sadder is that the home replaced a beautiful classic mid century modern home that was one of several homes owned by Sally Hershberger - the celebrity hair stylist with the $1000 cuts. One of her claims to fame was her cut for Meg Ryan.

That was a $.6.5 million tear down but it did have absolutely fantastic views. Unlike the "mid century modern" that Flagg repped a few episodes ago, this one really was in the iconic style and located in Trousdale Estates. I didn't find Flagg's listing to be particularly attractive and I am generally a fan of preserving older homes if possible.

As far as I am concerned, Trousdale should be declared historically significant. A few seasons ago, either Altmann or Flagg repped a mid century modern home in Trousdale that had been lovingly restored by a couple. I think it was Flagg because I seem to recall his taking the stage on a roof to play with a band as part of the shtick for the brokers' open. 

https://www.dirt.com/gallery/more-dirt/politicians/daoud-wardak-house-beverly-hills-1203428821/

https://www.1stdibs.com/introspective-magazine/trousdale-estates/

Edited by amarante
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On 10/9/2021 at 4:42 AM, Cheyanne11 said:

So weird--like, reality check: once you sell, the new owners can do whatever the hell they want with ~your house, as it's not ~your house anymore.

Agreed.

Do you rememberer that real estate show where they took owners back to the house they sold to see what the new owners did to it. More tears than a funeral. I mean, people LOST their shit when they saw the changes even if it was MUCH improved.

You see the same thing with some of these sellers.

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There were two shows about that time. 

 Moving Up (I think that was the title) with Doug Wilson of Trading Spaces fame.    Someone would buy the first house, that seller would move on to their new place, and the remodeling started.       Then, the  sellers would visit their old home with Doug, and criticize the changes.  Then they would tour the remodel of the new home the seller of the first home bought. 

 On the pilot episode, the Victorian with the red (?) countertops, where the couple spent a lot on remodeling, the seller was so awful to the new home owners that the producers separated the new owners, and the seller.    That's when they went to the house tour, and critiques being only on camera, with the new owners reacting to what the seller sniped at them about.   

Then there was Property Ladder, where people would buy a fixer, and remodel it, with help from a woman (Kirsten Kemp) who had done a lot of flipping.    THe house flippers rarely listened to advice, did horrible work, and then often couldn't sell for the price they wanted.    

The people on both shows were just a clueless as the MDLLA sellers are about staging, listing price, and compromising.  

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On 10/12/2021 at 8:37 PM, amarante said:

...

When I checked out the listing David Parents and James Harris are listed as part of Tracy's team. I thought this was rather odd because I thought agents working on a "team" were somewhat lower in status than the "team leader" and I had assumed David and James were of equal or higher status as brokers. 

Homes in those high locations really are not very convenient to actually live in because it is such a drive up and down. Also I am more of a fan of city views from the hills rather than views into the canyons although I guess that is personal taste as my home does have views which encompass both the Hollywood Hills to the north and downtown LA to the south.

I love looking at real estate porn and noticed that our hard working tax dollars helped pay for the recent purchase of a $20.9 million home in the hills by the son of the former Afghanistan defense minister. What makes the whole thing even sadder is that the home replaced a beautiful classic mid century modern home that was one of several homes owned by Sally Hershberger - the celebrity hair stylist with the $1000 cuts. One of her claims to fame was her cut for Meg Ryan.

 

 

David & James aren't part of Tracy's team, they are with Mauricio Umansky's firm "The Agency," and Tracy is part of Douglas Elliman Beverly Hills. 

The Altman Brothers and Josh Flagg are also with Douglas Elliman.

 

Wait what???

 

14 minutes ago, heatherchandler said:

 

David & James aren't part of Tracy's team, they are with Mauricio Umansky's firm "The Agency," and Tracy is part of Douglas Elliman Beverly Hills. 

The Altman Brothers and Josh Flagg are also with Douglas Elliman.

 

Wait what???

 

Frederick is also w DE - Who's Flagg with? 

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Fredrik’s listing is so gaudy and over the top. The neighbors must hate having that thing block all their views and take up every inch of green space. But the developers are right, for a fraction more in cost you can turn a 5,000 sq ft house into double, triple, or quadruple the size. I’m not sure how it would work, but I think it would make sense in some areas to generate price based on lot size rather than house sq footage. You’d disincentive a lot of these giant spec houses if developers couldn’t ask for higher sales prices (hell, you may even eliminate some of the bs real estate investment going on driving up housing prices for actual families if you slowed all the spec development). 
 

Is it just me, or were the girls from Altman’s listing wearing halter tops/lingerie in last week’s episode?!?! Eww. How their mom thinks it’s appropriate to let them on tv like that. 

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I was amused by the shenaningans that David & James had to do to get their co listing agent out of the house so they could show it to  clients without her getting mad at potential buyers. 

I was surprised that she convinced her husband to accept $7.6 million for a home listed at $10M originally . She was very passionate in defending the homes features.

I am puzzled at the wide variance between the listing price & actual selling price.

I was happy that they had subtitles during the argument in Hebrew.

 

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When the Altman brothers started out Mauricio was working for Hilton & Hyland (His brother-in-law Rick Hilton's company). Mauricio did not have his own firm. Years later he decided to branch off and start his own firm which started a fight between him and Hilton. Anyway, I don't think the Altman's ever worked for Mauricio. The british guys now work at Mauricio's firm, "The Agency", and the Altman bros hang their license with Douglas Elliman, same as Fredrik.

Edited by bichonblitz
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1 hour ago, oakville said:

I was amused by the shenaningans that David & James had to do to get their co listing agent out of the house so they could show it to  clients without her getting mad at potential buyers. 

I was surprised that she convinced her husband to accept $7.6 million for a home listed at $10M originally . She was very passionate in defending the homes features.

I am puzzled at the wide variance between the listing price & actual selling price.

I was happy that they had subtitles during the argument in Hebrew.

 

To me, that was just more “fake drama” for the TV. Seems like that’s what they’re going for this season, again. They’re even recycling old bits (Ryan did the cheesy tour bus thing in NY years ago). I guess this time it’s different because (gasp) Fredrik causes a traffic jam 😱 Oh no! But how will he ever get out of this jam!?! Something tells me he does, and something tells me he gets an offer from one of the agents (thus justifying the tour bus). 
 

And I see they’re still pushing the, “We’re developers who built this spec house on spec, and have a bigger house on spec with more debt! We’re over leveraged and our bills are due in 30 days so we have to sell this house to keep the shell game moving! But we’ll pretend to have leverage over the only lowball offer we have on this property, even though we’re not in a position to reject anything!” Developer narrative. 
 

Another fun fact. Years ago I read the a book that talked about realtors selling houses (might have been one of Friedman’s books.) In it, he calculates the cost to the realtor to keep a house listed for awhile vs the extra commission he gets by waiting for a higher offer to come through. Basically, the book points out that while it can sometimes be in the homeowner’s best interest to wait for more offers to come in, the fraction of that commission that filters down to the agent is so insignificant that they may be disincentived to suggest the seller hold off. I always think about that on this show because all these agents (no matter how successful and seemingly confident they appear) look so meek and desperate whenever they get an offer to present to their clients. They’re like little children trying to convince their parents, “No no no! THIS is the best offer you’re ever going to get. These are serious buyers. You’re never going to get another bid after this!”

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3 hours ago, Stan39 said:

To me, that was just more “fake drama” for the TV. Seems like that’s what they’re going for this season, again. They’re even recycling old bits (Ryan did the cheesy tour bus thing in NY years ago). I guess this time it’s different because (gasp) Fredrik causes a traffic jam 😱 Oh no! But how will he ever get out of this jam!?! Something tells me he does, and something tells me he gets an offer from one of the agents (thus justifying the tour bus). 
 

And I see they’re still pushing the, “We’re developers who built this spec house on spec, and have a bigger house on spec with more debt! We’re over leveraged and our bills are due in 30 days so we have to sell this house to keep the shell game moving! But we’ll pretend to have leverage over the only lowball offer we have on this property, even though we’re not in a position to reject anything!” Developer narrative. 
 

Another fun fact. Years ago I read the a book that talked about realtors selling houses (might have been one of Friedman’s books.) In it, he calculates the cost to the realtor to keep a house listed for awhile vs the extra commission he gets by waiting for a higher offer to come through. Basically, the book points out that while it can sometimes be in the homeowner’s best interest to wait for more offers to come in, the fraction of that commission that filters down to the agent is so insignificant that they may be disincentived to suggest the seller hold off. I always think about that on this show because all these agents (no matter how successful and seemingly confident they appear) look so meek and desperate whenever they get an offer to present to their clients. They’re like little children trying to convince their parents, “No no no! THIS is the best offer you’re ever going to get. These are serious buyers. You’re never going to get another bid after this!”

It makes sense that the real estate agent would be more motivated to get a sale done ASAP since any reduction in price would only cost them 2.5-3% of the total reduction in selling price. Furthermore, the longer the property stays on the market the more it costs the agent in term of advertising fees, staff spending time showing homes etc..

I am puzzled at the original listing price of $10 million on the home. Was that realistic or was it exaggerated to make the developer look foolish?

I would be upset if an agent told me my house was worth $10M , then ended up selling it 

for $ 7.6M.

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19 minutes ago, howiveaddict said:

Didn't one of the Josh's this year use some unique transportation (I think a limo or luxury van) to transport clients up the mountain to view a house?   Same ploy as what Fredrik did last episode. Except Frederik's was over the top of course.

Altman had Mikey drive a luxury van up the Hills. I think he also got lost or had trouble turning in traffic to “cause drama”. 

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Real estate agents will also suggest expensive renovations that don't actually increase the net to the seller but make the home easier to sell. Not relevant to the kind of homes these people are dealing with. The NY show has had a few storylines regarding sellers being reluctant to spend money for really good staging and there was a storyline where Gold had a strict budget to spruce up a coop - essentially painting and refinishing the floors

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1 hour ago, bichonblitz said:

This is what I like about Flagg. He's a straight shooter. He tell them what the house is worth and if they don't like it they can find another realtor. 

I like Flagg quite a lot but he does have FU money to spare. His grandmother was loaded as is his mother's family. 

Tracy's father is quite wealthy but I bet that Flagg has inherited and stands to inherit more than she would. 

Not that I am negating Flagg's accomplishments as a realtor as I appreciate his love and knowledge of Los Angeles architectural history. 

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15 hours ago, amarante said:

Real estate agents will also suggest expensive renovations that don't actually increase the net to the seller but make the home easier to sell. Not relevant to the kind of homes these people are dealing with. The NY show has had a few storylines regarding sellers being reluctant to spend money for really good staging and there was a storyline where Gold had a strict budget to spruce up a coop - essentially painting and refinishing the floors

One of the smartest things Flagg ever admitted on the show, the house is a depreciating asset, the land is what has value. It really is just location, location, location. After all the tours and Oohs and awes, the realtor sits down and basically says, “You’re next door neighbor just sold for this price per sq ft, so we’ll just multiple that by your sq footage for our list price.”

37 minutes ago, amarante said:

I like Flagg quite a lot but he does have FU money to spare. His grandmother was loaded as is his mother's family. 

Tracy's father is quite wealthy but I bet that Flagg has inherited and stands to inherit more than she would. 

Not that I am negating Flagg's accomplishments as a realtor as I appreciate his love and knowledge of Los Angeles architectural history. 

You may be right. But Tracy and her sister live much more extravagantly than Flagg does (each sold houses at around $20M) and their dad is a legit billionaire developer. Granted, they also have careers and rich ex husbands, but I don’t get the sense Flagg could buy a $25M house outright (unless he was planning to flip it after a few years). 

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1 hour ago, Stan39 said:

One of the smartest things Flagg ever admitted on the show, the house is a depreciating asset, the land is what has value. It really is just location, location, location. After all the tours and Oohs and awes, the realtor sits down and basically says, “You’re next door neighbor just sold for this price per sq ft, so we’ll just multiple that by your sq footage for our list price.”

You may be right. But Tracy and her sister live much more extravagantly than Flagg does (each sold houses at around $20M) and their dad is a legit billionaire developer. Granted, they also have careers and rich ex husbands, but I don’t get the sense Flagg could buy a $25M house outright (unless he was planning to flip it after a few years). 

I guess it's relative since Flagg seems to live fairly extravagantly. He is in the process of that extensive remodel. 

I am not sure what Tutor of Tutor Saliba is actually worth and what kind of trusts he has set up for the kids.

Edith Flagg was reputedly worth about $100 million when she died in 2012 and even invested conservatively the stock market and real estate really boomed during that period. She had only one heir (Flagg's father) but it is likely that in order to minimize estate taxes, there were so-called generation skipping trusts established so that estate taxes wouldn't be paid twice in a relatively short period of time. His mother also comes from an extremely wealthy background. My BFF father in law was worth about half a billion when he died. There were four brothers who inherited but all of them as well as the grandchildren have enough to live lavishly for the rest of their lives without really touching the capital. My friend lives relatively modestly but some of the brothers live much more extravagantly in terms of their houses. Of course "modest" in LA is a $6 million home in a desirable location 

Didn't Tracy downsize to some extent when she divorced? 

I think both Flagg and Tracy have more than enough money to do whatever the hell they want to do. 

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1 hour ago, amarante said:

I guess it's relative since Flagg seems to live fairly extravagantly. He is in the process of that extensive remodel. 

I am not sure what Tutor of Tutor Saliba is actually worth and what kind of trusts he has set up for the kids.

Edith Flagg was reputedly worth about $100 million when she died in 2012 and even invested conservatively the stock market and real estate really boomed during that period. She had only one heir (Flagg's father) but it is likely that in order to minimize estate taxes, there were so-called generation skipping trusts established so that estate taxes wouldn't be paid twice in a relatively short period of time. His mother also comes from an extremely wealthy background. My BFF father in law was worth about half a billion when he died. There were four brothers who inherited but all of them as well as the grandchildren have enough to live lavishly for the rest of their lives without really touching the capital. My friend lives relatively modestly but some of the brothers live much more extravagantly in terms of their houses. Of course "modest" in LA is a $6 million home in a desirable location 

Didn't Tracy downsize to some extent when she divorced? 

I think both Flagg and Tracy have more than enough money to do whatever the hell they want to do. 

They definitely don’t want for anything. I just look at the houses the realtors live in and buy and it seems like most of them live in very nice single family homes which I’m guessing are around $5M. I think several years ago Altman and Heather were looking to buy something in the $2-3M range and they’ve since upgraded. Fredrik probably has an $8-10M house, but he’s also a bigger realtor than the others. They’ve made comments that Altman has a bigger team than Tracy and does more deals than she does.  Yet, I think Tracy sold her house for $25-30M. She may have downsized, but being a middle-of-the-road realtor for this cast but having a house 4-5X more than everyone else (and her “interior designer” sister also having a $20M house) suggests daddy set them up. How much were Josh and Bobby looking to spend on the Palm Springs house? Like $3M? I feel like Tracy could buy that for her boy-toy boyfriend without even thinking about it, let alone fight about the investment potential of it.  
 

But I also wonder how much these people work anymore. I’m sure they’re all still in real estate, but I doubt they’re really the top realtors in Southern California. Isn’t there a guy named Aaron with a show on CNBC claiming to be the top realtor? Real estate in LA just seems to have so many layers and networks. Kind of like they say about the REALLY rich people, who don’t go on reality TV or show off in public. I’d be curious to know what other realtors think of reality TV agents, if they think they’re great or just average for the area who are lucky to be on TV?

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34 minutes ago, Surrealist said:

Kind of random, but is Josh Flagg am only child? I thought I saw something about his having a sister, but he's never mentioned a sister on the show. 

Flagg has a sister. I don't know if she has ever been mentioned or on the show.

I certainly respect anyone who wants to remain completely anonymous. If you don't need the money, you really need to have a certain kind of personality to want to participate in a reality show - even peripherally - and make your life subject to scrutiny.

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I don't think Flagg has a sibling.  It's very confusing to me, and who knows what the entire story is. 

   Edith Flagg, his grandmother had Josh's father with her first husband, who died at Auschwitz, and Grandpa Flagg was Edith's second husband.

https://www.dailymail.co.uk/news/article-7546273/Million-Dollar-Listings-Josh-Flagg-shares-story-Edith-Flagg-survived-Holocaust.html

Edith Flagg was a fascinating woman, great business woman, and a beloved philanthropist.  

Josh's biological grandfather was the first husband. but Eric Flagg, the second husband was the one Josh called his grandfather.     

 

Edited by CrazyInAlabama
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2 hours ago, CrazyInAlabama said:

I don't think Flagg has a sibling.  It's very confusing to me, and who knows what the entire story is. 

I'm confused too. I know about Edith's backstory and how Josh's real grandfather was killed at Auschwitz. I remember trying to read up on more about his parents, and that's where I found mention of a sister. I tried to see what she does for a living, but I couldn't find confirmation that Josh even has a sister. I wondered if she is a half-sister.

I completely understand some people are private and don't want their lives played out on a reality show, but I remember being surprised Josh has a sister. I genuinely had thought he would be the sole heir to his family's fortune, on both sides. Which would be insane because they're über rich.

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On 10/23/2021 at 1:20 PM, Stan39 said:

One of the smartest things Flagg ever admitted on the show, the house is a depreciating asset, the land is what has value. It really is just location, location, location. After all the tours and Oohs and awes, the realtor sits down and basically says, “You’re next door neighbor just sold for this price per sq ft, so we’ll just multiple that by your sq footage for our list price.”

You may be right. But Tracy and her sister live much more extravagantly than Flagg does (each sold houses at around $20M) and their dad is a legit billionaire developer. Granted, they also have careers and rich ex husbands, but I don’t get the sense Flagg could buy a $25M house outright (unless he was planning to flip it after a few years). 

I think I read Flagg’s net worth is $35 million. I think the difference is Flagg is very old money wealthy (generally more understated, unless their name’s on a building) and Tracy is more nouveau riche. 

Edited by readheaded
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10 hours ago, Surrealist said:

I'm confused too. I know about Edith's backstory and how Josh's real grandfather was killed at Auschwitz. I remember trying to read up on more about his parents, and that's where I found mention of a sister. I tried to see what she does for a living, but I couldn't find confirmation that Josh even has a sister. I wondered if she is a half-sister.

I completely understand some people are private and don't want their lives played out on a reality show, but I remember being surprised Josh has a sister. I genuinely had thought he would be the sole heir to his family's fortune, on both sides. Which would be insane because they're über rich.

His parents are still alive, though. 

https://www.google.com/amp/s/techiegamers.com/josh-flagg-net-worth/amp/

https://www.cheatsheet.com/entertainment/million-dollar-listing-josh-flagg-real-estate-fraction-of-net-worth.html/

https://www.cheatsheet.com/entertainment/million-dollar-listing-bravo-star-tracy-tutors-family-is-worth-close-to-1-billion.html/

 

For fun, I tried to find more info on Flagg’s sister, Dana Marineau. 

She is (or was) married which could explain the name, but I do think she’s his sister based on the interview below where she says what her parents’ jobs are. Plus, I think she looks like Flagg. I wonder if she’s his mother’s daughter from a previous relationship, which would explain why Flagg’s paternal grandmother might be closer to him than to her. 

https://www.thedrum.com/news/2021/08/31/so-you-want-my-job-rakuten-rewards-cmo-dana-marineau-building-its-house-creative
 

https://archive.advertisingweek.com/events/ny/2014/speakers/?id=2719

I need to get an actual life. 😂🥴🤪

Edited by readheaded
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On 10/22/2021 at 10:48 AM, Stan39 said:

 

Another fun fact. Years ago I read the a book that talked about realtors selling houses (might have been one of Friedman’s books.) In it, he calculates the cost to the realtor to keep a house listed for awhile vs the extra commission he gets by waiting for a higher offer to come through. Basically, the book points out that while it can sometimes be in the homeowner’s best interest to wait for more offers to come in, the fraction of that commission that filters down to the agent is so insignificant that they may be disincentived to suggest the seller hold off. I always think about that on this show because all these agents (no matter how successful and seemingly confident they appear) look so meek and desperate whenever they get an offer to present to their clients. They’re like little children trying to convince their parents, “No no no! THIS is the best offer you’re ever going to get. These are serious buyers. You’re never going to get another bid after this!”

Freakonomics!

 

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8 minutes ago, Marley said:

I’m not interested in seeing more of Tracy’s daughter. She seems very snotty.

I know Tracy and some other parents mean well bringing their kids on tv, just something fun for them, but it rarely makes them look good. There’s something unseemly about watching children nitpick a luxury lifestyle that most adults working their entire lives will never be able to afford. 

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16 minutes ago, retired watcher said:

Does anyone in LA buy a house without making major changes? The Spanish house that Tracy looked move in ready to me.

There was some cracks that needed to be repaired but a multi million dollar renovation was not needed. I am surprised that Tracy is downsizing from a $22m home to a $7M home.

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2 hours ago, Marley said:

He is pursing his lips and preening too much too. Yuck.

Yes he is!  Fredrick is really annoying to me.   The show would be better without him IMO.  That drama about the statues was ridiculous; of course the sellers took a chance  someone would offer to buy them just because they were there.  Seemed like they really wanted the publicity.  

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5 minutes ago, CattyK said:

Yes he is!  Fredrick is really annoying to me.   The show would be better without him IMO.  That drama about the statues was ridiculous; of course the sellers took a chance  someone would offer to buy them just because they were there.  Seemed like they really wanted the publicity.  

Yea Fredrik is ruining this version of million dollar listing. It was much better without him. He takes up too much time. Last season with the 2 Joshes, some Tracy and the Brits was better. Not a huge Tracy fan but if her time is minor she’s all right.

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Not a big fan of the houses this episode, except for the second home James’ clients looked at. It’s amazing how little you can get for millions of dollars in LA. 
 

I’d also like to know more about these supposed millennials buying up those houses. I see the same thing here in Texas. I read about millennials not being able to afford ramen noodles, then see 25-year-olds with basic jobs somehow buying multi-million dollar properties. 

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