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Home Buying in Hollywood Hills : Real Estate Advice

  • All118
  • Local Info11
  • Home Buying49
  • Home Selling4
  • Market Conditions7

Activity 26
Thu Aug 27, 2009
Jenny A. Le answered:
What are you using to compare your property information with? How do you know it's "relatively cheap"?

It seems you are looking for vacant lot to build? If yes, then I suggest you contact an agent for current listings and more accurate property details, including comparable market ananlysis (CMA) in the Hollywood Hills area.

Send me an email and I will provide you with access to the SoCal, including CLAW MLS active listings, including vacant lots.

Phone: (888) 525-0125
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Sun Aug 30, 2009
Jeri Creson answered:
Wow - that is a very loaded question. As a current broker, and a former licensed contractor, I will tell you, with 100% certainty, that depends. Everything, especially in hillside ordinance areas within Los Angeles depends on the Geology Report, survey, access, and stability of the site. A $30,000 lot in Hollywood Hills? Hmm.... Not buildable without an exorbitant amount of engineering and shoring needed in order to make a project feasible.

Your cost is not in the land, in this case, but rather in the improvements necessary to make development feasible. A very interesting alternative, and possibility for otherwise "unbuildable" sites can be found with a very specific, earthquake, hillside friendly building method that I have worked with recently. There is a site: that offers pole construction buildings. These are very Japanese inspired in nature, and can be constructed on otherwise unbuildable sites.

When it comes to land - grab your geo-engineer, and prepare to pay for some r & d if you're thinking about shopping in the lower price range for the Hollywood Hills.
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Fri Aug 7, 2009
Ronald Shore answered:
Do you want a condo or a single family home? How large a home do you need? LA county covers a large area. Do you want to be near LA or in the outlying areas?
No agent can guarantee you that what you are buying will appreciate in value in 3 to 5 years. Please do not believe anyone willing to give you such guarantees. If the market turns around, then in all likelihood a property will appreciate if held for a long enough time, but there are no guarantees.
If you want to give me more specifics of what you are looking for I can give you a more specific answer. $250K can be a two bedroom house in mid-city, a studio loft downtown, or a condo in the valley. If you tell me what your needs are I can see what I can find for you.
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Tue Feb 2, 2010
Shel-lee Davis answered:

First let's deal with how you finance a foreclosure. Basically, the same way you would finance any other property, assuming you are buying either a pre-foreclosure or a post-foreclosure. The only time this does not hold true is if you want to purchase the property at the trustee sale. Then you basically need cash on the day of the trustee sale.

Regarding how much loan you could qualify for, you need to speak with a great lender who understands 1st time homebuyers. Let me know if you need a referral.

Lastly, about the areas you like, 90046 and 90069. There is one property under $200k. It is a one bedroom one bath condo. At this time, this area has not come down anywhere near that much. In the past 30 days, the lowest sale was at $285,000 for a 1/1/ condo. The lowest SFR sale was a 2/2 for $550,000.

To buy a great home at a great price you might consider the following steps:
1. Get pre-approved with a great lender. That way you will know how much you can borrow.
2. Ask around to family members and see if anyone would like to invest in a home that you will make the mortgage payments on and maintain.
3. Then add the amount of their investment to the amount of your loan to determine your purchase price.
4. Work with an aggressive realtor who will help you identify deals, make offers, and negotiate for you.
5. Evaluate the areas you can afford, identify those areas within the affordable areas where you would be willing to live, and have your aggressive realtor keep on top of every property that comes on the market in those areas.
6. Be patient and persistent.

Dare to Dream.

Shel-lee Davis
Real Estate Consultant
RE/MAX Palos Verdes Realty
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Sat Sep 27, 2014
L.A. Real Estate Group answered:
Hi Alexander,
It is a bit unclear what you mean by 1000K,,,if you mean a million..then are you talkin about an entire apartment building? Or 100 thousand?? In which case you can not buy anything in the Hollywood area.
We work with internation investors, feel free to learn more about
Let us know if we can help you with anything...
Good luck
Lou and Alex
LA Real Estate Group
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Sun May 25, 2008
Myke answered:
Well - what's lowball?
Lowball in relation to the actual market value? Yea - that might be foolish.
Lowball in relation to the asking price, but competitive with market value? Not foolish at all.

If a house is over priced, it's over priced. Paying more then you should for it, simply because someone else owes the bank a lot of money, or wants to pay off a student loan - or whatever else - is foolish.

If you know what the homes value is, and you're prepared to work with that - there's nothing foolish about it.
No guarentee the seller will take it - cause there are still some suckers out there that will pay more then they should.
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