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Is now a good time to buy in Studio City, CA? Looking to buy a condo w/ $700K budget.
Sun Aug 5 2007, 20:30 - Studio City - Home Buying - 8 answers
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Hi Kathy,
I have 4 brand new construction condos in Toluca Lake (directly across the street from Studio City). They range in price from $585,000-$705,000. If you contact me I can send you the links. I am also holding them open this weekend if you'd like to stop by! : ) Mary Dignan Keller Williams Studio City 818-605-7880 marydigsla@aol.com Thu Jan 31 2008, 13:05
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Kathy, no one REALLY knows what is going to happen with the market. Blayne is probably right that the prices may continue to drop. I don't believe they will drop much in Studio City - SC has always been a desirable area for buyers.
You should weigh your situation and your reasons for buying. If you plan to live in your condo for a few years you should be fine! Let me know if I can help you with your search. Blayne and I are in the same office in Studio City - he's a great agent! If you are open to W Toluca Lake I have a great condo to show you Sat Jan 26 2008, 13:02 Web Reference: http://www.ExquisiteCondo.com
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My office is in Studio City and I deal with alot of homes and condos in that area. If I were you I would wait about 6 months. I see alot of developers that have over built their condo project in and around studio city. The prices are going to come down as the supply far outways the demand to this point. The interest rates should remain around the same because the President is worried about a recession. Studio City will come down in prices but not as quickly as the surrounding areas. I would keep an eye out to see if a bill gets past that will raise the conventional loan in major areas like Los Angeles. If the bill goes through it could help stimulate the housing market in Los Angeles.
Thu Dec 6 2007, 08:18
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I work the Studio City/Sherman Oaks area for over 10 years. I think it is a great time to buy right now. The reasons being are interest rates are still historically low, there are a lot of homes just sitting now and you can get a great deal on a wonderful house. We are in "Buyer's Market" they say because I think the factors that define the factors that define a market are supply and demand. Today there is a great supply but demand is minimal. A recent LA Times article predicted that the market would continue to decline in a lot of areas of California. However, areas close to the city such as Studio City is still highly desired and may continue to decline in value but gradually.
Tue Dec 4 2007, 10:51 Web Reference: http://www.san-fernando-valley-ca-real-estate.com
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Kathy, you may have found a condo already. If not, I viewed a really nice one yesterday in the heart of Studio City. I has a very sunny exposure, 2 bedrooms up, nicely redone, subterranean parking, pools and tennis courts. Best of all, it's listing at $599,000. Please contact me if you'd like to see it.
Wed Sep 19 2007, 19:29 Web Reference: http://www.judygraff.com
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I've been looking for condos in Studio City for myself lately and I think it's a great time and great place to buy. You'll have your choice of inventory and yes, there are deals to be made. Several new buildings have just begun to sell units as well. Good luck with your search.
Mon Aug 6 2007, 16:47 Web Reference: http://www.JudyGraff.com
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Hi Kathy! I think now is the time to buy- if it is the right time for you! Interest rates are near a historic low- not at the bottom of the graph but definitely very close to as low as they have been over the past 30 years, and there is definitely an opportunity to get a good deal if you find a property that has been listed for some time without any action. Some of our buyers have been finding very good deals recently, and they are happy to be buying down a mortgage, with all the tax benefits associated with home ownership, versus paying rent which ultimately is money that does not ever help them again. If you want some help we are in Studio City! Good luck either way!
Mon Aug 6 2007, 01:40 Web Reference: http://www.keyserhomes.com
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Timing helps. The end of the summer is typically the peak in number of listings. If you are thinking about buying within the year, then this will be the time with the most inventory and the fewest buyers. Also the days on market is the longest too. IE - sellers are long on the market and more willing to negotiate. This natural timing shifts to the opposite as we approach New Years.
Sun Aug 5 2007, 21:08 Web Reference: http://bayareainvestmentrealestate.blogspot.com
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Check out more Home Buying questions in Studio City...
Answered Sun Feb 17 2008, 08:35 by Dot Chance in Studio City
Answered Thu Jan 31 2008, 11:25 by Nancy Sanborn in Studio City
Answered Wed Jan 30 2008, 11:40 by Cameron Fedderman in Studio City
Answered Tue Jan 15 2008, 17:15 by Mary Dignan in Studio City
Answered Wed Nov 21 2007, 18:32 by Mary Dignan in 91604
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