Keller Williams Realty
That being said, there are many very nice pockets of North Hollywood that are truly up and coming. This is the best answer I could come up with without knowing the actual address or cross streets of the property. Good luck.
Toluca Lake is a great community and North Hollywood is definately up and coming, especially the Arts District. What will affect the the resale value when you are ready to sell will be the comparibles in the area.
Let me know if you need any more info.
It is interesting ot see the change in local markets, and North Hollywood is a great example. Toluca Woods, which is actually IN North Hollywood, is an up and coming place. IMHO Toluca Woods is not likley to catch up, but who ever thought North Hollywood would be the artsy town that it is becoming.
To put the purchase and sale into perspective, you are buying within a certain set of circumstances, including a strong buyer's market, low interest rates, and if the townhome is a "good deal" now, all things being equal, it will sell for a fair price in 5-7 years. The key is to look at your alternatives, the pros and cons of each, then go from there. Most homeowners should look at the purhcase from the point of view - Is this a good home for me, rather than, will this be a great investment. Other home buyers in the future will ook at the same criteria (design and upkeep of the building, nearby features, crime rate, etc.).
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