Home Buying in 90024>Question Details

Lillian, Home Buyer in 90024

what is the average annual home appreciation , condo vs. single family home , in Westwood 90024 in the last 3 years?

Asked by Lillian, 90024 Sat Dec 4, 2010

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Hi Lilian,

Homes have declined in value all over the LA area. The figures below represent the zip code that is of interest to you.
The average Single Family Residende has gone down about 25% - down from about $750/sqft to $600/Sqft.
The average condo/Townhome has declined about 20% - down from $480/sqft to $400/sqft

You identify yourself as a home buyer, so know that this is a very good time to buy. Please feel free to Contact me if you are interested in receiving up to date data on home buyin and selling for your particular area of interest.

Best Regards,
Catherine Bedrossian
Home Sales Pro
(310) 383-4212
catherineb@socalhomefinds.com
http://www.socalhomefinds.com
0 votes Thank Flag Link Sat Dec 4, 2010
Wow! That's a statistical Research Question. We have some companies that specialize in that type of information. I think that's your best bet for a good answer. One of the best ones is called Data Quick at
http://www.dqnews.com. There might be some information here as well. Generally Speaking single family homes appreciate better then other types of property.
0 votes Thank Flag Link Sat Jan 4, 2014
Question was asking 2010. At that time the housing market was depressed. Since mid 2012 homes and condominiums has shown appreciation on the Westside including 90024.

Reasons:
-The interest rates are approximately 4.5%
- Prospective buyers showing confidence in the housing market
- Majority of properties selling standard sales
-More buyer demand than housing inventory prices increase
Contact local Realtor will give monthly appreciation for condos or homes monthly.

Gail Mercedes Cole
EXP Realty
310.853.9933
0 votes Thank Flag Link Thu Jul 11, 2013
Lillian- If this was year-2005 most everyone would respond with: "Everything I have seen is at least going up at least 20% a year."

We are in a different age under different circumstance. Purchase a property that you feel you and your family will enjoy for years to come as a Home not an Investment. The days of appreciation are basically over, at least for the next several years. There are little pockets in certain areas of our country that were hardly affected and there are certain areas that are appreciating, at least for the time being. - Best wishes- Rudi
Web Reference: http://www.umboc.com
0 votes Thank Flag Link Thu Jan 5, 2012
Single family homes have done better in 90024 than condos over the past 3 years.
As a general rule, SFR perform better than condo's ,due to the lack of HOA fees, and since the land appreciates, there is more land when you purchase a home, vs a condo.
0 votes Thank Flag Link Thu Jan 5, 2012
Unfortunately, there was no home appreciating in the last 3 years. Declines... roughly 20% - 25%. The market has seemed to bottom out and has seen some flatlining in the last 6 months so if you are looking for a great purchase, now would be a good time if you found your ideal home. I would be happy to assist.
Sincerely,
Richard "RJ" Kas (SFR, SRES)
"Representing the finest properties from Los Angeles worldwide"
KAS Properties - Coldwell Banker Previews International - Beverly Hills East
9388 Santa Monica Blvd, Beverly Hills, CA 90210
310.859-5334 office - 310.488.9826 mobile - 310-273-0670 fax ATT: RJ
RichardKas@gmail.com - http://www.RJforLA.com - DRE: 01352771
Sellers Buyers Investors Leasing Consulting
0 votes Thank Flag Link Mon Dec 6, 2010
In general, the homes and condos in the area dropped about 25% in price in the last 3 years.
If you are trying to decide whether to buy a condo or SFR then you should ask yourself what are your needs and kind of life style you are looking for?
If you are trying to see what will appreciate more in the future based on the past then the answer should be IF YOU BUY RIGHT, MONEY WILL BE MADE ON A CONDO OR HOUSE.
Although 90024 has only few thousands condos and houses combine, location is very important factor in price and you should consult with a professional who is very familiar with the area. The price per square foot between certain streets is much higher then others. Certain buildings are much more expensive then others, etc.
I LIVE IN 90024 and very familiar with the area. I will be able to help you find your perfect home.
If you are serious, Call me to arrange a meeting (310)717-4409.
Web Reference: http://WWW.USALUXURY.COM
0 votes Thank Flag Link Sun Dec 5, 2010
Hi Lillian;
Los Angeles is a unique real estate environment. National and county-wide news sources are slow and do not accurately represent what is happening in Los Angeles, neighborhood by neighborhood. We use Altos Market Research to monitor the market on a weekly basis, and send the charts directly to our clients. Our Los Angeles Statistics are updated every few days – to keep you up to date. Our statistics are free and easy, so you can be “in the know” with absolutely no risk.
Access the most recent report here:
http://debbiebremner.posterous.com/weekly-westwood-market-up…
If you need a more detailed report, I offer a more detailed 11 page report tailored more directly to your needs. In addition, I am happy to give you a no obligation consultation to help you interpret the information.
Deborah Bremner
The Bremner Group at Coldwell Banker
REALTOR, 00588885, ABR, CDPE, eAgent, CSP, SFR, HRC, CRE
(O) 310-571-1364 DIRECT
(D) 818.564.6591
http://www.thebremnergroup.com/news/
0 votes Thank Flag Link Sat Dec 4, 2010
Thank you everyone for all the useful info to get me started.
Lillian
0 votes Thank Flag Link Sat Dec 4, 2010
Lillian,
Homes as well as condos have not really appreciated much in the last few years. Although the Westwood area has not been hit as hard as others, they have seen a slight decline. I hope this answers your question. Let me know if I can be of any assistance.

Chad Horwitz
Keller Williams Realty Beverly Hills
310-909-3863
Chad@chadHorwitz.com
0 votes Thank Flag Link Sat Dec 4, 2010
A better analysis for you would be to look at home prices in 2003 & compare to mid to late 2007 & then compare those figures to today's values. Do a separate search for condo & then single family. This will show you the growth potential for ea. type of dwelling.

I can help you with this & send you the data.

EmilyKnell1@yahoo.com
562-430-3053 cell
0 votes Thank Flag Link Sat Dec 4, 2010
Homes have been declining in value in 90024 in the last 3 years. The area has declined by about 25% or so over the last 3 years.


Richard Schulman
#1 Listing and Selling Agent
Keller Williams Westside.
310-482-0173
schulmanrd@yahoo.com
http://www.RichardSchulman.com
0 votes Thank Flag Link Sat Dec 4, 2010
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