is the real estate market in playa vista a good investment right now? commercial development will begin one

Asked by Joe, Los Angeles, CA Wed Feb 13, 2008

of these days once the courts lift their injunction. won't this help boost the surrounding residential market?

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Dorene Slavi…, Agent, Torrance, CA
Tue Feb 19, 2008
It remains to be seen, how this development will go.
It is Westside real estate and near beaches so it likely will appreciate at the same rate as other areas closeby. If the retail development,parks and schools are good, that will help tremendously.
4 votes
Kaye Thomas, Agent, Manhattan Beach, CA
Wed Feb 13, 2008
Over the long term Playa Vista will probably turn into a pretty good investment. The problem with Playa Vista is that you can buy in a number of areas that are in a better location and less expensive then Playa Vista.

We are not used to Mello Roos being part of the equation in a purchase and many buyers are balking at the steep fees. Especially when they have to deal with LA City schools. You can often find a better deal in one of the South Bay cities that have their own school districts and are in a better location..
2 votes
Diane Broda, Agent, Marina del Rey, CA
Thu Apr 12, 2012
FROM THE PLAYA VISTA SPECIALIST:
Since the news of our "Playa Vista Downtown" was announced last week in the Los Angeles Times, sales have been booming. We have approximately 14 new condominium homes available. Everything else new, including the over $1,000,000 homes have been sold.

There won't be any new homes available for sale until after our Downtown is built. Now is the time to buy when prices are down and interest is at historically low rates. Let me, the Playa Vista Preferred Agent, assist you. I am available all day, every day.

We have a new K-5 school opening in August. The new Downtown - "Runway at Playa Vista" - will have a movie theatre, shops, 2600 more homes, restaurants, pools, a business center and many wonderful things too many to mention - plus 1400 parking spaces in underground parking.

This area has always been, and particularly now is, sooo exciting. Let me help you with the new construction or a re-sale where you can get fabulous buys, perhaps on a short sale, of which I have several.

Diane Broda - DRE #01719491
Preferred Playa Vista Agent
Top Producer
Keller Williams - Marina del Rey/LA
310 745-4477 - direct
213 713-2929 - cell
dianebroda@ca.rr.com
I live, work and play in Playa Vista - but can help you with any city in Los Angeles County !!
0 votes
JD Songstad, Agent, Santa Monica, CA
Tue Sep 28, 2010
There is a large amount of properties currently listed for sale there including a high amount of short sales and REO's. And lots more units to be built. You may be able to get into a great community for a great price but unless you plan on staying for a minimum of 5 years it might not be the best investment in my opinion.
Web Reference:  http://MrWestside.com
0 votes
Gary De Pury, , Pasco County, FL
Wed Feb 13, 2008
All Real Estate is Local so feel free to discount the opinion of this FLORIDA REALTOR. But, I would not speculate in an investment strategy that depended on the courts. If there is a BAN on commercial properties in a region, that ban could long outlast you. Now, if you are relatively certain that the courts are about to rule and that Class 1 or 2 commercial space (Office or professional space) is going to be built then I give you a big fat Thumbs Up with a MAYBE caveat.

But let's put it this way...that parcel is Oh so inviting, and your REALTOR calls you with the Morning paper showing that the courts have just lifted the injunction and are going to allow building of commercial space.
You grab all that you can save and borrow and drop it on the property.

The next thing you know, you are the proud owner of a parcel with a payment and good old Fred Jones (Every City has a FRED JONES) from across the street, once removed, challenges every single building permit application until the city caves or Fred passes away.

Joe, with all the love and respect I can muster for a fellow investor, be very careful on this type of speculation. It is a great idea, but not rooted in a sound thought process. Again, there are REALTORS and there are INVESTMENT REALTORS. Get a good one, attend investment seminars and LEARN, LEARN, LEARN....
0 votes
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