Home Buying in Playa Vista>Question Details

Norma Writess, Both Buyer and Seller in Los Angeles County, CA

It looks like Playa Vista is building again. Does this meen the developers think the Real Estate Market has improved in WLA?

Asked by Norma Writess, Los Angeles County, CA Mon Jan 10, 2011

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Dorene Slavitz’s answer
Hi Norma,
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!
1 vote Thank Flag Link Fri Jan 28, 2011
Norma,
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

http://activerain.com/blogs/endre

Or feel free to contact me directly

Endre Barath,Jr. Realtor 310.486.1002 homes@endrebarath.com
Web Reference: http://www.endrebarath.com
0 votes Thank Flag Link Mon May 16, 2011
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