Zillow Advice: Home Buying - Anyone have an opinion about Beverly Hills home values?

I grew up in Beverly Hills ...

Thu, 14 May 2009 21:57:00 GMT

I grew up in Beverly Hills so I still pay attention to the market. I don't follow it extremely closely, but it does seem to me like home values have held up very well in BH. Fewer foreclosures and distressed sellers, I'm sure.
Zillow's data for Los Angeles says the Zillow Home Value Index (the ZHVI aka "Zindex") for BH is $2,083,232, down 8.6% year-over-year for 1Q09. That compares favorably with LA as a whole which is down 18.9% yoy.

BH prices can go down in ...

Thu, 14 May 2009 04:55:00 GMT

BH prices can go down in value. Do a search on the internet and you will prices back in early 90s went down 40%. The entertainment business (Hollywood) has taken some deep hits over the past few years.
On the whole Million dollar deals are falling.

http://www.dqnews.com/Articles/2009/News/California/HighEndSales/MDCA090202.aspx

Beverly Hills 90210 his getting hit just like before.

http://www.dqnews.com/Charts/Monthly-Charts/LA-Times-Charts/ZIPLAT.aspx

BTW, Im not going to see the NEW Star Trek movie. Whats the point?

Maybe it will be a big problem, ...

Thu, 14 May 2009 04:09:00 GMT

Maybe it will be a big problem, because of many peoples living there had no fixed income, therefore can't apply for the loan, I heard one story that, one actress had 1mil. for downpayment on 3 mils. house, and the bank refused with the reason, some year she make few millions, some years is none, not even one cent. therefore, there are not guarantee that she can repay the mortgage.

My dad still lives there ...

Thu, 14 May 2009 03:57:00 GMT

My dad still lives there and he's not selling and doen't care about the market.

My take is that the area ...

Mon, 11 May 2009 21:06:00 GMT

My take is that the area is taking a hit like every where else but these popular areas will be the among the last to go and first to recover....