Whether you are looking to buy or sell real estate in the View Park area, there are certain points you should keep in mind about the Los Angeles housing market that will help you better understand what to look for when determining the cost of selling or purchasing a house.
View Park Real Estate: Twelve Things Every Buyer and Seller Should Know
1. Have a Realistic Idea of Home Prices
The median home price in Los Angeles County is $650,000 for a single-family home and $515,000 for a condo, with a median price per square foot of $440. In the View Park area, the median single-family home price is $882,600. The area is a mixture of housing styles, ranging from Spanish Colonial to mid-century modern, some of which were built in the 1920s, when the area first became popular and many built between 1930-1960 and have since been updated. The homes in this gem of a neighborhood are spacious and often sit on large lots with gorgeous views or on rolling hills with tree-lined streets.
2. Understand How Housing Prices Are Set
Home prices in the Los Angeles area have been steadily rising and are now higher than they were during the housing bubble years prior to the Great Recession of 2008. This is due in part to the high desirability of California real estate and the increase in renovation and construction within the Los Angeles housing market, which is rising to keep up with buyer demand.
The View Park area, like much of Los Angeles, is well-known for picturesque single-family houses, but those are not the only types of homes in the area. Duplexes, condominiums and evening townhouses can be found in nearby Windsor Hill’s, Baldwin Hills and evening in the mostly residential Ladera Heights. Housing prices will vary depending on if you are buying or selling a single-family home, townhouse, condo, or duplex.
3. Find Out How to Get Help With Down Payments
California has some of the highest real estate prices in the country, which may scare away some buyers who feel they won’t be able to come up with a down payment. Programs to assist with down payments are available, however, including Federal Housing Authority (FHA) loans for first-time buyers, Veterans Administration (VA) loans for both veterans and active service members.
There are moderate price opportunities in and around this neighborhood also.
4. Consider the Surroundings
5. Geography Can Work to Your Advantage
One of the biggest complaints about the Los Angeles area is how spread out it is, but this is not necessarily a bad thing. There are so many fantastic neighborhoods to explore in Los Angeles, especially in the View Park area, and each features its own unique advantages as well as varying real estate markets.
Fifteen minutes from LAX and south of the stylish Baldwin Hills community and a close neighbor to quiet and quaint Ladera Heights and the hustle and bustle of downtown Culver City, this area offers something for everyone.
6. Community Size Makes a Difference
7. Proximity to Transportation Matters
8. Consider the Area’s Popularity
The demand for houses can vary from neighborhood to neighborhood, and housing availability will also be a determining factor in a home’s cost. View Park was recently listed on the National Register of Historic Places, but prior to this, it was a relatively unknown area with many who had purchased homes in the 1960s still living there.
As a younger generation begins to move into the area, View Park is growing in popularity and has always had a well established community feel.
9. Proximity to Cultural Attractions Are a Plus
The Los Angeles area has more museums and theaters than any city in the country, such as the Hollywood Bowl, the Los Angeles County Museum of Art, The J. Paul Gerry Museum at Getty Center, and over 1,600 urban art murals located around the city. Local galleries abound in areas like Chinatown and the NoHo Arts District, making the View Park area the perfect location from which to explore these cultural amenities.
10. Family-Friendly Attractions Abound
An abundance of family-friendly activities and attractions make the View Park area a perfect location to raise a family, which is a big plus for those looking for a safe, friendly environment for their kids. You will even have easy access to attractions like Disneyland, Six Flags Magic Mountain, and Universal Studios Hollywood, just to name a few.
11. A Home’s Value May Change
12. You Need a Knowledgeable Real Estate Agent
When looking to buy or sell property in the Los Angeles area, you need a real estate agent who not only understands the View Park real estate market but also knows how to utilize all available resources to get you the best possible deal. Teresa Mack grew up in View Park and the neighborhoods aroundit. She knows it’s most intimate and treasured elements. Teresa has the experience and knowledge to help you through the process from start to finish.
When you are ready to take that next big step, contact Teresa Mack and let her put her expertise in View Park real estate to work for you.