Market Trends: 5/23/2013
Condos/Townhouses
Market Snapshot
Total Properties Listed:
7,503
Month-Over-Month Change: +3.75%
Average List Price:
$503,046
Month-Over-Month Change: +7.76%
Median List Price:
$349,972
Month-Over-Month Change: +.87%
Typical Property
Condo
2.27 Bedrooms
1.87 Baths
$503,046 Average List Price
$315/SqFt Average Price per SqFt.
Average Price by Bedrooms:
1 Bedroom:
$289,755
2 Bedrooms:
$436,364
3 Bedrooms:
$562,073
4 Bedrooms:
$910,756
5 Bedrooms:
$3,579,289
Top 5 Most Viewed Properties
Condos/Townhouses, CA Real Estate:
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San Fernando Valley
Real Estate Listings
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San Fernando Valley: 55,338 Listings
Condos/Townhouses Real Estate
About Condos/Townhouses
It may be the right time to consider investment properties in the San Fernando Valley. With many homes being discounted for a variety of reasons, it is currently a buyer’s market. Homes are selling for less than their value and bargains can be found. One of the best opportunities available currently is the purchase of properties for rentals. A large number of people who have lost their homes through foreclosure and short sales are looking for rental homes.
Investment properties can range from ranches to equestrian homes to condominiums and homes within gated communities. There are a number of possibilities for the investor to consider. Districts within the San Fernando Valley where there is a high level of employment is a good area for investing. This provides tenants who have a good income and there are many who will pay more to live near where they work. Other good areas for investment purposes can include affluent areas near colleges with a high student population. Families that send their children to expensive schools will often pay a premium price for rentals for the students.
Another consideration for investors is what amenities are near the property being considered. Areas with stores, restaurants and transportation nearby are good areas for investment purposes. The availability of the basic necessities provide San Fernando Valley neighborhoods where people look for housing, thus the rental market is higher. Doing the research before investing will be the best way of determining what areas will provide a better return on the investment. Beginning investors may want to start small and work their way up to higher priced homes, condos and even commercial buildings.
There are tax benefits available when purchasing investment property. Often real estate is chosen as an investment for this reason. Even an investment that is considered only fair can become more valuable with the tax benefits that are added. The income received from the property can be deductible saving a large amount of money for the investor.
Mortgage loan interest, maintenance expenses, insurance premiums and depreciation can be a very good way of saving money when it comes to tax deduction. Many of the deductions available to investors are not available to homeowners. When investing in San Fernando Valley real estate, an accountant can advise you about many potential tax benefits.
Condos/Townhouses Neighborhoods