Well, yes I believe there is some indication that we have hit bottom with Real Estate prices and are now in a recovery phase. December was a very good month for sales, and the Playa Vista Development will surely have quite a bit of business. When it comes to "lifestyle"developments and new property, there are always buyers..IF..the price is right!
Developers understand that having a vacant lot does not help their revenue. They have to pay taxes and maintain it. On the other hand if they begin to build they can get less expensive builders because there are fewer jobs and workers are willing to work for less. With that said the building costs are reduced and so are the prices, hence the margins are smaller too. Small profit is better than no profit and better than an expense.
The Real Estate market has improved in Playa Vista,CA. The trends are clear please visit my monthly market report for Playa Vista and you will see the actual statistic every month or just subscribe to my blog
Or feel free to contact me directly
Endre Barath,Jr. Realtor 310.486.1002 email@example.com