Considering buying or selling a Vacant Lot in BHPO? Call an Expert…
If you are buying or selling a Vacant Lot in BHPO you need to get an expert’s evaluation as to the true value of the property or as to how the market activity is. Selling land is not like selling a Single Family Residence in Beverly Hills Post Office (BHPO) it is not as cut and dry. There are many tangible and intangible factors that determine the true value of the land.
The land values vary a great deal, depending on size, steepness, geology to name a few factors. There is a value to having a Geology Report and a Topography Survey to get a better assessment of what the true value of the land is. This point is becoming more and more important since the Hillside Ordinance has changed the dynamics of what you can build and clearly living square feet will be a big part of the future value of the new construction as well.
The short answer is you need a Land Specialist to determine Market Value as well as the ability to get a home approval from the Building Department.
Just to give you an example, currently there are fifteen Vacant Lots on the market in Beverly Hills PO and of those fifteen the prices vary from a low of $250,000 to a high of $7,895,000. Interestingly enough there are a few lots that are around 6000-8000 sq. ft. of land and the largest parcel is around 3.5 acres.
Clearly you can see that there has to be an explanation and the data interpretation is critical for determining what the difference is between these lots as well as their value.
To give you an extreme example if you looked at the chart below you would think that there has been a price increase of land by 995%J! The facts here indicate it and the chart shows it too, in actuality it is quite different, since you would be mixing different products and events.
Hence call or email someone who knows about land in Beverly Hills Post Office or vicinity before you buy or sell a vacant land!
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 https://www.endrebarath.com Your Pet Friendly Realtor. I contribute a portion of my commission to Local Animal Rescue Organizations.
