Finding a Buyer for a Hollywood Hills Home
Though Hollywood Hills real estate is some of the hottest property in Los Angeles, this doesn’t mean that there’s incredible demand for a home in the Hollywood Hills. Though the Hollywood Hills has not been hit by problems in the housing market like other neighborhoods, it is still a tough time to find a buyer. Other parts of the L.A. region – many centered around Long Beach – have been hit hard with declining home values due to neighborhood foreclosures, this isn’t the problem in the Hollywood Hills. Here the slowdown is because there are fewer people willing to make the leap into high-end real estate.
That’s what makes the crisis a full-grown crisis: it is affecting everyone. Even if people can afford higher-end real estate, they’re reticent about making the investment until the housing market levels out – which just prolongs the problem. To anyone who is debating whether or not to buy a home: come on down! The Hollywood Hills real estate market is fine. Home values are solid and the foreclosure crisis is not affecting this community as it is in lower-income areas.
But because the housing market is going through a rough period, you need to find an advocate for your home who can reach the greatest pool of potential buyers who won’t undersell the value of your home. If you’re buying a home, you want a representative who has access to the widest number of home available so you find a home that is perfect for your needs, for a good price. Though the market is slower, the Hollywood Hills are as beautiful as ever and with rates and prices low, this is a great time to buy.
About Susan Andrews:
Susan Andrews is a top producing real estate agent at prestigious Beverly Hills real estate firm, Hilton & Hyland. She specializes in Hollywood Hills, West Hollywood and Los Feliz real estate. Susan can be contacted at 323.829.8811 or by e-mail regarding her properties.
The Hollywood Hills Real Estate Market
No real estate broker would be honest if he or she said this is a rosy housing market. However, the housing market in the Hollywood Hills is not as bad as it could be – that is, in relation to other parts of Los Angeles. Southern California on the whole took the biggest dip in terms of foreclosures and dipping housing prices. The fact that other parts of the country have not bottomed out yet is attributed to the fact that they have not reached So Cal levels.
That said, Southern California is a huge region and the Hollywood Hills by no means has fared as poorly as other parts of the region, or other parts of L.A. in particular. So while there may be fewer home sales during this current climate that may drive down home prices, it is not necessarily driving down home values. As most know, the bulk of the problems existed in the subprime housing market, and that just isn’t the market in Hollywood Hills or other high-end real estate neighborhoods.
So prospective homeowners do not have to fear real estate values plummeting. Home buyers can benefit from home prices dropping – especially those homes in the one to two million dollar range. Home sellers may have to settle for a lower home sale price – or else wait a longer time for the home to remain on the market to find a good buyer. So although you will read dire projections about the housing market on the whole, this should not scare you away from Hollywood Hills real estate. These aren’t great times, to be certain, but the market also opens up opportunities, in terms of interest rates and prices, that you may never see again.
About Susan Andrews:
Susan Andrews is a top producing real estate agent at prestigious Beverly Hills real estate firm, Hilton & Hyland. She specializes in Hollywood Hills, West Hollywood and Los Feliz real estate. Susan can be contacted at 323.829.8811 or by e-mail regarding her properties.
Less Expensive Hollywood Hills Homes
The news out of Hollywood Hills real estate may make you think that Hollywood Hills homes are prohibitively expensive. That’s because the homes that get the most attention are those that are the most lavish: Christina Aguilera’s home that went on the market last October for close to 9 million dollars, or the Howard Hughes estate above the Hollywood sign – with views of both the valley and L.A. for 22 million dollars. Chances are you don’t have that kind of money laying around.
But there is plenty of Hollywood Hills real estate that can be found for similar prices than other parts of L.A. – even in less attractive neighborhoods than the Hollywood Hills. The Hills have a reputation for exorbitant costs because the average of Hollywood Hills homes is higher than other expensive areas – even higher than Bel-Air or Beverly Hills. When you have homes asking 22 million dollars that’s going to do something to the average. And in the Hollywood Hills, homes that are comparable in size to Beverly Hills also come with vista views, which seriously raise the value on the home.
That being said, the Hollywood Hills is a huge region. Beverly Hills is tiny in comparison. So there are homes for many types of home buyers – not just the rich and famous. You can find homes below a million dollars – which sounds like a lot, but when you consider that homes in the L.A. flats also go for a million dollars, this is not a lot to pay. The assumption is that Hollywood Hills homes go for two million or more and that is just not the case. So don’t write it off your list of attainable neighborhoods if you’re currently in the market for a home.
About Susan Andrews:
Susan Andrews is a top producing real estate agent at prestigious Beverly Hills real estate firm, Hilton & Hyland. She specializes in Hollywood Hills, West Hollywood and Los Feliz real estate. Susan can be contacted at 323.829.8811 or by e-mail regarding her properties.
Celebrity Life in the Hollywood Hills
Though the Hollywood Hills is known for its celebrity clientele, this does not make it off limits to everyone else looking for a luxury home in L.A., while not necessarily paying the highest real estate prices in L.A. The Hollywood Hills has gotten its cache not just because of the quality of the homes and the views of the L.A. lights, but the old adage: location, location, location.
Be certain, there is real estate in L.A. that is much more expensive than the Hollywood Hills, but it also might be less convenient. For example, there is expensive real estate in the Pacific Palisades – but a commute from the Palisades to the east side can be frustrating, especially given L.A.’s growing traffic problem. But if you live in the Hills, you’ll have access to both the east and west side. This is why it’s so attractive to celebrity clientele, as they have to do business in and around Hollywood. Even celebrities aren’t immune to traffic.
So who are some of the vaunted celebrities who call the Hollywood Hills home? A short list:
- Britney Spears
- Ben Stiller
- Shaquille O’Neal
- Justin Timberlake
- Anthony Kiedis
There are dozens of others. Obviously, this is great for expanding home values, even during tough economic times. And really it just makes it a more exciting place to live. But don’t necessarily think that the Hollywood Hills are full of raucous party homes. It has a top-flight school system and quiet neighborhoods just like other high-end areas of the city. In short, the Hollywood Hills may have a reputation for being a celebrity hangout, but there are plenty of opportunities for everyday homeowners – who, in fact, comprise the majority of residents in the Hollywood Hills.
About Susan Andrews:
Susan Andrews is a top producing real estate agent at prestigious Beverly Hills real estate firm, Hilton & Hyland. She specializes in Hollywood Hills, West Hollywood and Los Feliz real estate. Susan can be contacted at 323.829.8811 or by e-mail regarding her properties.
Los Feliz Real Estate
Not too long ago Los Feliz was not even on the map in terms of being a hot real estate destination in Los Angeles. Now Los Feliz rounds out the triumvirate of Silverlake, Echo Park, and Los Feliz, as highly attractive neighborhoods on the east side – as far east you can go before reaching the valley. Of the three, Los Feliz is the most attractive, as it is less urban with quieter, tree-lined streets. Also, given it’s proximity to Griffith Park, there are plenty of real estate opportunities north of Los Feliz Boulevard, well away from urban traffic.
Like West Hollywood, which separates neighborhoods via Santa Monica Boulevard to the east and west, Los Feliz Boulevard separates neighborhoods in Los Feliz. That is not to say that homes south of Los Feliz Boulevard are any less attractive or expansive – some of the nicest real estate in L.A. – and most private – is on that side of the Boulevard. But if you’re interested in something that more closely approximates a Hollywood Hills home, then you are going to want to look at homes closer to Griffith Park.
In Los Feliz, you’ll find homes that are a little touch of old Hollywood. Of course, this is true of the Hollywood Hills as well, but in the Hollywood Hills a growing number of the architecture is of modern design. In Los Feliz, you’ll find some of the old architectural gems of Los Angeles, such as the Bixby Estate, a beautiful older home with ample land, a cottage, and a studio. Los Feliz is generally a quieter community – both in its shopping districts and in the neighborhoods – compared to the Hollywood Hills so you should most certainly make it part of your home-buying plans.
About Susan Andrews:
Susan Andrews is a top producing real estate agent at prestigious Beverly Hills real estate firm, Hilton & Hyland. She specializes in Hollywood Hills, West Hollywood and Los Feliz real estate. Susan can be contacted at 323.829.8811 or by e-mail regarding her properties.