Why Prices in the South San Fernando Valley are Skyrocketing
By Monique Bryher, MSPH, Broker-Associate -Physician Real Estate Specialist
(Pinnacle Estate Properties, Inc.)
Ten offers - all over asking price. Down-payments ranging from 20-50% or more. Buyers removing their appraisal contingencies, confident that their offers of 5-10% over asking price will nevertheless will be approved by independent appraisers. And if not, they're able, willing and eager to pay the difference in cash.In what highly-desired section of Los Angeles is this happening? Studio City and especially Sherman Oaks, due to its proximity to the 101-405 freeway interchange.What's happening in the Valley is two-fold and it's definitely not a "bubble." First, since film-making has come back to L.A. due to financial incentives initiated by Mayor Garcetti, there has been an influx of film people with the money to purchase homes. Second, because the Westside is very expensive and has experi...
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