some of the Beverly Hills condos are as comfortable as houses without the extensive yard work or huge water bills. It seems that the average price per square foot of condo space is hovering around $550.00.
There are currently 58 condos on the market with a price range of $700,000.00 to $3,000,000.00. The MLS CLAW shows 15 solds since January 1, 2008. There are 6 listings looking for Backup and 10 sales pending. Not too bad considering some area show 50 active, 1 backup, 2 pending, and no closed sales since 01/01/2008.
The west side of LA is unique. It's desireable. Beverly Hills-90210 -internationally known and now in a slightly declining real estate market, people feel it's the time to buy. It seems the West Hollywood condo market is also thriving. Don't get me wrong, I see the price differences from last summer, but people are buying it seems that West Hollywood is coming along rather well.
West Hollywood schools are also improving. West Hollywood Elementary is a very improved school and hear that a group of parents have gotten together to figure out how to improve the local high school. It seems that Melrose Place is becoming quite the chic shopping strip comparable to the Beverly Hills commercial area or the Sunset Strip.
It's pretty clear that the west side is as desirable as ever. I wonder what is to become of the areas with a high percentage of foreclosures--those areas that LA County has somehow come to call its own,--such as Valencia, Upland, and Saugus, etc. What is the destiny of those areas? Who should buy those properties? And with the cost of gas, who wants to live there if it means a long and costly commute? You might wonder what this has to do with the title of this post--nothing maybe, except that those who have foreclosed their properties and perhaps work in LA, might need to rent which might drive up rents in LA which might lead to higher rents in Beverly Hills ...
That's it for today I'm off to the cactus flowers!