A Bel-Air Home that Blends Modern and Historic Elements Asks $31.5m
Architect Mark Rios and his husband, Dr. Guy Ringler, spent 18 months renovating the house, which was originally designed by John Elgin Woolf.
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In Los Angeles, a home with a rare combination of historic and contemporary architectural pedigree is coming on the market for $31.5 million.
The circa-1949 house in Bel-Air was originally designed, and later owned, by architect John Elgin Woolf, known for his Hollywood Regency-style. More recently, it was renovated and restored by the architect and landscape guru Mark Rios and his husband, reproductive endocrinologist Dr. Guy Ringler. Rios, one of the architects behind the renovation of the Hollywood Bowl in Los Angeles, has designed homes for entertainment heavyweights like Clive Davis and television producer Darren Star.
Rios and Ringler paid $12 million for the roughly 8,400-square-foot, five-bedroom property in 2021 and embarked on an 18-month renovation. They moved into the house in 2023.
“We wanted to make it contemporary, but still not change the spirit and iconic quality of the architecture,” Rios said. “I kept on thinking, ‘If Jack Woolf were alive today, what would he do?’ And then also, ‘What would Mark Rios do?’”
When they purchased the property, Rios said, the home had fallen into disrepair. The layout was a relic of decades past, with servants’ quarters and separate primary-bedroom suites. A prior owner had installed an elevator from the kitchen to her dressing room to facilitate mid-party wardrobe changes.
The couple revamped the layout, converting a library into a media room with bright red walls. The new centerpiece of the home is a lounge with a fireplace and bar.
Outside, the couple aimed to make the pool area a more social setting for entertaining. They turned a pool pavilion into a Moroccan-style sitting area, which they jokingly refer to it as “the drug room” because of the psychedelic colors, Rios said.
For a recent dinner party, the couple re-created the menu from a New Year’s Eve party thrown at the house in the 1960s, serving beef wellington and “some kind of seafood mousse,” Rios said. They even hired a musician to impersonate the 1960s trumpeter and pianist Herb Alpert.
They are selling because they are spending more time at their home in Montecito, Calif., Rios said. The property is listed by Linda May of Carolwood, an affiliate of Forbes Global Properties.
Bel-Air, which was largely unaffected by the recent Los Angeles wildfires, has seen a handful of deals close at $30 million or more over the past year, Zillow shows. A nearby estate with an addition by architect Paul Williams sold for $39 million in November.
Write to Katherine Clarke at Katherine.Clarke@wsj.com
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The typically busy spring season for the housing market was a dud, and the summer isn’t looking much brighter.
Housing services companies like Zillow Group and Rocket RKT +3.78% were loud and clear last week on earnings calls: Rocket CEO Varun Krishna called the quarter through June “one of the toughest spring housing markets in years.”
Jeremy Hofmann, Zillow’s chief financial officer, said on a conference call that the company predicted earlier this year that the market for mortgages would be flat. “We actually now think it’s going to be down low-to-mid-single digits,” he said.
The rest of 2026 will remain challenging for mortgage origination volume, says KBW analyst Bose George. The question now is what happens in 2027. “If mortgage rates remain [around] 6.75%, I think that’s going to be challenging even for next year,” he says.
But what’s bad news for mortgage companies could be a positive for bargain hunters. Buyers can expect prices to grow more slowly—or mildly decline—with less competition as long as mortgage rates remain unpredictable.
Mortgage rates at the beginning of the year were solidly below year-ago levels, notes Zillow senior economist Kara Ng. But they surpassed last year’s levels recently, she adds, referencing Freddie Mac’s weekly survey of 30-year fixed mortgage rates. Last week’s reading, at 6.69%, was higher than year-ago levels for the first time in 2026.
“From the affordability point of view, it’s going to get more challenging in the second half of the year,” she says. “And when affordability gets more challenging, that impacts sales and home price appreciation.”
Mortgage application data tracked by the Mortgage Bankers Association has cooled since the beginning of the year. The trade group expects that the number of mortgage originations in the remaining two quarters will lag behind last year’s levels, after exceeding 2025 levels in the first half.
Rocket’s early-stage data—which the company told Barron’s it derives from its brokerage Redfin, demand for its mortgage products, and signs in its servicing portfolio that a homeowner is preparing to refinance or move—“leads us to expect the third quarter mortgage market to be smaller than the second,” Chief Financial Officer Brian Brown, said on the company’s call. He added that such an occurrence is “something the industry has not seen since 2022.”
Prices will be about flat nationally, Ng says. Zillow’s most recent forecast, which shows how values are expected to change in the year ending June 2027, show them dropping in roughly half of the 100 largest U.S. metros for which data is available.
Buyers aren’t rushing in at a time when mortgage costs are rising and unpredictable. But those with the right combination of patience and cash could stand to benefit. “If you are financially qualified to buy a starter home, you are facing less competition and you’re more likely to get a price cut,” Ng says.
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