She-lee is correct. This property is for lease. The property is located in the Hollywood Hills area of Los Angeles. The area has not seen the decline in values that other areas have had in Los Angeles. Great neighborhood. You can get a home there in the $500s for a 1 bedroom cottage to $12 million for a sexy hillside home. It's generally affluent.
The dollar is still week which makes LA a great investment for overseas buyers. If you have any questions about any other areas or purchasing property in the US, let me know as it's a bit different than the process in Scotland.
The Carrabba Group
Keller Williams Wilshire
This property is available for Lease at this price, not for sale. Hope that clears up the confusion on the "significant decline in price". Dare to Dream.
Real Estate Consultant
RE/MAX Palos Verdes Realty