In Southern California, luxury home owners really are privy to the world’s most innovative burgeoning businesses. One of the most interesting businesses to launch recently is a luxury mobile boutique called Beautiful Things LA.
While there are so many shopping destinations in Los Angeles, Beautiful Things LA strives to turn that experience inside out for consumers by traveling to its customers while still offering a sense of discovery with rare luxury products. The storefront for this business is a vintage Blue Bird school bus refurbished by the mother-daughter business team of Susan Forrest-Reynolds and Lucia Reynolds. The team came across the bus in Portland, Oregon, and immediately set out to make the space more consumer friendly by raising the roof 3 feet and building out the interior to accommodate products.
Beautiful Things LA specializes in clothes and accessories, but also features a wide array of smaller boutique home products such as prints and cards by Ink + Smog Editions, Turkish kilim pillow cases, Tunisian hammam linen towels, Soma biodegradable water filters and Peruvian blankets commissioned by Chicago-based Little Journeys. The majority of Beautiful Things’ stock is crafted locally by artists native to Southern California, which is an element that the Reynolds felt was important to incorporate.
The boutique is typically on the road Thursday through Sunday and while customers can monitor the whereabouts of the bus on the company’s website and Twitter feed, Forrest-Reynolds and Reynolds almost prefer to just pop up unexpectedly.
“It can be a surprise to stumble upon us and be caught off guard,” Reynolds said to the Los Angeles Times. “In a good way.”
Malibu Real Estate Update
A popular market for the Beautiful Things LA boutique bus has been Malibu, where buyers have been eager for unique housewares to complement their stunning luxury homes located throughout the community. Altos Research, a California-based real estate analytics company, reports the median single-family home value has been falling in Malibu, which is something that may spur more activity for home buyers.
As of November 14, the median single-family home value in Malibu has come down to $3,654,535. Home value in Malibu peaked for the year back in April and May right around $4.7 million.
Perhaps a factor in the falling home values in Malibu has been a significantly lower amount of demand and higher level of inventory as indicated by Altos’ unique figure known as the Market Action Index. This value uses a neutral value of 30 to indicate whether trends are moving upward in favor of home sellers or downward in favor of home buyers. With a current MAI of 28.99, Malibu is just slightly in the hands of home sellers. This value looks to be trending up however, which could indicate growing prices over the next few weeks.
Inventory is also on its way down, which could help to make Malibu luxury properties an even hotter commodity. As of November 14 there were about 228 properties on the market in Malibu.
Are you interested in learning more about Malibu luxury homes? Please feel free to contact our team of property experts today.