Market Conditions in 90027>Question Details

Firefly, Other/Just Looking in Louisiana

Will prices in the Franklin Hills neighborhood in Los Feliz continue to stay relatively high?

Asked by Firefly, Louisiana Sun Jan 6, 2008

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Answers

6
Thank you for your question about whether or not prices in the Franklin Hills neighborhood of Los Feliz will stay high. The prices will come down because potential home buyers do not have confidence in the housing market. Your question highlights this economic phenomenon. The home prices will continue to be high compared to other less desirable areas.
0 votes Thank Flag Link Fri Sep 24, 2010
Read my blog on 90027 prices for Sept. 2010...It will give you an idea of where prices have been going.

And if you need any other help, please feel free to contact me through my profile...

Thanks,
Nicholas
0 votes Thank Flag Link Fri Sep 17, 2010
will read your blog
Flag Fri Feb 28, 2014
Great advice from the agents below :)
0 votes Thank Flag Link Sat Sep 11, 2010
Hi there,

I live in the middle of Los Feliz area and can give you in depth analyses for the past 6 months as well as some analyses about solds year to date, different months this year versus last year. In general I'd say that it all depends what price range are you looking for and what kind of home. Based on recent statistics the prices in Los Angeles will continue dropping till 2nd quarter of 2009, but quantity of sales will continue increasing. Lately I see 99% of great deals they have multiple offers, which results that homes are sold for more than they are listed for.

Sincerely,

Igor Korosec
0 votes Thank Flag Link Thu Nov 6, 2008
Hey Firefly,

Franklin Hills is a great place to live. It was recently written up in the LA Times so lots of people are catching on. Although Sales are down from 2008 to 2007 in Los Feliz as a whole. The figures for June are in and June actually closed more sales volume (total number of sales and total dollar amount) than in 2007. The medium price is down this year over last for Los Feliz, 2008 To Date 2007 To Date: $870,000 for 2008 vs 1,096,000 for 2007. Personally with gas prices the way they are I am seeing more and more people choose to live in areas like Franklin Hills. I feel that that area may go down a little more MAYBE but I wouln't expect to see anything drastic. It's a solid neighborhood. Close to everything. You never know if we are at the bottom which for most metro parts of LA has been a slight decline. If you have any other questions feel free to shoot me an email. I have represented many buyers in the Franklin Hills area and would be happy to help you.

Best,

Monique Carrabba
The Reavis Group
Keller Williams
mcarrabba@kw.com
0 votes Thank Flag Link Mon Jul 28, 2008
They will stay high compared to other areas of the city, but with the entire market trending downwards even the nicer areas will soften up. If you are buying, now is a very good time to get in before more mortgage turmoil tightens up guidelines even further than they are at now. I am doing a purchase for a 1.7m home that wa appraised three months ago at 1.95m if that gives you any idea of where prices are headed. I do a good amount of work in Los Feliz/Silverlake so if I can be of any assistance don't hesitate to contact me.
Web Reference: http://www.skyminor.com
0 votes Thank Flag Link Mon Jul 14, 2008
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