Right now, many homebuyers are sitting on the sidelines. They are rightfully watching to see what will happen with the real estate market as homebuilders report record losses and foreclosures increase.
But if you are thinking of buying a house in Hollywood to capitalize on the boom of urban construction, do not wait.
That's right. I'm here to tell you that if you wait, you will look back at this day and say, gosh, I could have bought much cheaper.
Why? Hollywood redevelopment is coming in a big way and there are neighborhoods near the redevelopment that have not yet benefitted in their housing prices from all the activity.
Here's a great rundown from the L.A. Times of all the Hollywood redevelopment: HOLLYWOOD'S LATEST STAR
There is really no smarter buy right now than a character home that needs fixing up in one of the depressed neighborhoods near all this Hollywood redevelopment. Interest rates are still low. Lenders have tightened standards some but are likely to tighten more. And prices are still low on blocks that stand to benefit from this redevelopment.
Very soon, that won't be the case.
But if you are thinking of buying a house in Hollywood to capitalize on the boom of urban construction, do not wait.
That's right. I'm here to tell you that if you wait, you will look back at this day and say, gosh, I could have bought much cheaper.
Why? Hollywood redevelopment is coming in a big way and there are neighborhoods near the redevelopment that have not yet benefitted in their housing prices from all the activity.
Here's a great rundown from the L.A. Times of all the Hollywood redevelopment: HOLLYWOOD'S LATEST STAR
There is really no smarter buy right now than a character home that needs fixing up in one of the depressed neighborhoods near all this Hollywood redevelopment. Interest rates are still low. Lenders have tightened standards some but are likely to tighten more. And prices are still low on blocks that stand to benefit from this redevelopment.
Very soon, that won't be the case.
See also: URBANISTS
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