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What is the Value of a Lot in Bel Air,CA i.e.: the coveted 90077?…

Posted on Sep 10, 2014 by in Active Rain | 0 comments

What is the value of a Vacant Land in Bel Air: the coveted 90077 zip code?

 

 

This sounds like an easy question, but a difficult one to answer. The other day I had an appraiser call me from out of area and wanted to know why and how I priced a vacant lot in Bel Air? Needless to say after a five minute conversation it was clear to me he was not from the area, never the less I felt it was my duty to give him help and have him price the property correctly.

I had to explain to him that it makes a huge difference if the Land is on Beverly Glen Blvd vs. if it is on Bellagio Rd. same sized lot could be  worth a couple hundred thousand dollars vs. on Bellagio Rd it could be worth a couple million dollars.

Yes it is location, noise and comparable values of future homes. Ironically he was getting paid close to $1,000 and he had no idea. How sad, I personally would not have taken on the assignment if I was not familiar with the area and I would have declined the assignment based on lack of familiarity with the location. Oh well, not all of us are created equal. I was just glad the person that needed the appraisal got good information after a 25 minute phone call to me.

What would you have done if you were in a similar situation? Would you have stirred the appraiser to the right information? Would you have taken his call? I could go on and on.

I guess I am of the belief you do right to one person, maybe someday it will come back to you, i.e.: Karma! Needless to say I was glad I helped at least two people, the appraiser and well as the one who needed the appraisal.

Now if you are considering buying or selling property in Bel Air, CA please contact me directly.

 

 

. If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Culver City, Playa Vista, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 or email me at homes@endrebarath.com or visit one of my websites at http://www.endrebarath.com Your Pet Friendly Realtor. I contribute a portion of my commission to Local Animal Rescue Organizations.

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