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Michael Leznik - Los Angeles REALTOR and Neighborhood Expert

San Fernando Valley Home Sales Report Oct 08

Home Sales in the San Fernando Valley were up 110.5% for the month of October 08 compared to October 07 based on the latest numbers released by SRAR ( Southland Regional Association of REALTORS ) The "Valley" includes communities like Studio City, Sherman Oaks, Toluca lake, Burbank, Encino, North Hollywood and Calabasas

The spike in sales can be partially attributed to a 30% drop in Average Home Price to Approx $410,000 based on 745 Homes sold in the month compared to a peak of almost $640,000 in 2007. But Sellers and buyers are still showing signs of dementia and unrealistic thinking. Home owners still overvalue their properties in todays market and buyers are continuing to test the waters with incredible low ball offers to the dismay of listing agents citywide.

At the Same time Condo Prices in the Valley were down over 40% to approx $225,000 creating amazing opportunities for first time buyers to get a great property in a nice location at an amazing holiday discount.

Inventory in the San Fernando Valley is at approx 6000 Homes which amounts to a 6 month Supply compared to a 23 month supply during the last bursting bubble in the 90s.

Below is a Home price heat map courtesy of Cyberhomes.com that outlines Average prices in the San Fernando Valley

As a local REALTOR, my feeling is that prices will continue their downward momentum on most of the properties in the " Valley " for the next 3 - 6 months. Having said that I must also state that the properties that continue to see these declines are incredibly overpriced as it is. Homes in desirable areas like Studio city, Toluca Lake, Sherman Oaks and the Hollywood hills are still seeing multiple offer situations if they are priced right and marketed aggressively across all mediums.

To get a first hand look at available homes for sale in Studio City, homes for sale in Sherman oaks, homes for sale in North Hollywood, homes for sale in Toluca lake, homes for sale in Encino, homes for sale in Calabasas, homes for sale in Northridge, homes for sale in Burbank or anywhere else in the entire southern california Real estate market. visit my website www.realestate-818.com

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Sherman Oaks Real Estate and Homes for Sale, Market Conditions

Sherman Oaks Homes for Sale. Real Estate in Sherman Oaks, California

Updated Sept 30th, 2008

Find Homes For Sale in Sherman Oaks. Search Sherman Oaks, California real estate , Sherman oaks CA Property Values, recently sold properties, foreclosures, bank owned homes, new homes, Condos, School Information and everything Real Estate related. CLICK HERE


Sherman Oaks is an 8.1-square-mile area in the San Fernando Valley which is part of the City of Los Angeles.Sherman Oaks is relatively urbanized, with commercial skyscrapers along Ventura Boulevard and Sepulveda.. In addition, residential densities are highly mixed, with apartment and condominium neighborhoods alongside single-story residential ones. The area is a hub for regional transportation, business, and shopping.



Right now there are over 350 Homes and Condos for sale in Shewrman Oaks ranging in price from 250K to $5,500,000 whith such a wide selection of availble homes it is impoortant that a neighborhood expert help you weed thru the glut of inventory, many house have been on the market over 9 months and price changes are frequent.

In the past 12 Months Pricing on homes in Zipcode 91403 is down over 22% with the Average home valued at $740,000

Below is a snapshot of a few available homes for sale in Sherman Oaks, CA. If you click on any of the properties you will get directly into a Real Time search of the MLS specifically in Sherman Oaks.


If you are looking for a bargain there are 11 Bank Owned Properties for Sale in Sherman oaks
Click here for more information

If you are looking for Bank Owned Homes in Studio City
Click Here for more information


If you are looking for bank owned Homes in Lake Balboa
Click here for more information

If you would like full VIP Buyer Concierge Service
Fill out the form below and we will do a custom search and email you the results.

This information is provided for you by

Michael Leznik
REALTOR - Managing Director
Los Angeles Bank Owned Homes Team
Keller Williams Realty
www.RealEstate-818.com
(818)584-1922 direct
youragentmike@gmail.com

Sherman Oaks CA Bank Owned Homes and Real Estate Blog

Bank Owned Homes Blog
SEARCH THE SOCAL MLS

STUDIO CITY CA MARKET CONDITIONS AND HOMES FOR SALE

Studio City CA Market Conditions and Homes for Sale

Studio City California is one of 24 communities located in the San fernando valley, Approx 12 miles from downtown LA, 15 Miles from Santa Monica, and just over the hills from Hollywood and the Los Angeles Westside. The Neighborhood is a haven for just about everyone looking to escape the hussle and bustle of the city. With great Schools, parks, entertainment, great shopping and dining the Studio City community is a perfect valley hub location for living and playing.

Basic Demographic Overview

Market Conditions Over view provided by Cyberhomes.com

qith Approx a 12% Drop in home prices in the past 12 months Studio City is flushed with inventory and opportunities for a great deal are available for qualified buyers.

Prices on quality homes that are well priced continue to increase with multiple offer situations popping up everywhere.

for the latest information on available homes in the MLS or to get on my exclusive VIP Buyer program with automatic updates of price reductions, new listings, foreclosures and Short Sales Click the following Link

Studio City Bank Owned Homes