Neighbor News
Short Sales & Foreclosures In Studio City?
Deals are hard to find in Studio City. The market has rebounded and home prices are getting back to the pre-crash prices
The days of getting a deal from someone's misfortune are pretty much gone at least in Studio City and there is tough competition for the few short sales and bank owned homes that do hit the market. Currently there are Zero of these types of listing available in Studio City. There is 1 Short sale in escrow, a 3 bedroom, 3 bath condo with over 1700 square feet that was listed for $650,000 and one REO ( bank owned) house with 3bedrooms, 2 baths and 1,800+ square feet.
According to the National Association of Realtors short sales and foreclosures are at the lowest levels since
2008. Studio City's median home value is $1,091,50. Prices in the area have gone up over 10% in the last year and it is predicted that prices will rise another 2% in the coming year.
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