For the month of January, the Los Angeles Times decided to do a neighborhood spotlight on Encino.
For expert insight on the neighborhood, the LA Times reached out to Rodeo Realty’s #1 San Fernando Valley Realtor, Carol Wolfe.
The longtime Encino resident told the LA Times that new construction has attracted buyers to the area who might otherwise live in other parts of Los Angeles.
“We’ve been seeing a lot of tear-downs and new construction,” Wolfe told the LA Times. “New homes offer a lot of things that people want — a lot of bells and whistles.”
According to the article, for older homes or large-lot estates, potential home buyers will need to move quickly in the current marketplace.
“Families are competing with builders and developers, which makes it difficult,” Wolfe said. “The traditional buyer is being aced out by builders who waive inspections and have such strong offers.”
The neighborhood spotlight also talks about the history of Encino and how a mouthful of a name: El Valle de Santa Catalina de Bononia de los Encinos, is now referred to as San Fernando Valley, or simply the Valley.
Writer, Scott Garner, also talks about the neighborhood highlights and challenges.
“Whether you like hillside living or dwelling in the flats, Encino has great housing choices on either side of Ventura Boulevard,” said Garner.
The article concludes with a report card and a market snapshot.
“In November, based on 20 sales, the median price for single-family home sales in the 91316 Zip Code was $838,000, according to Core Logic,” said the LA Times. “That was a 18.9% increase in price over year.”
To read the entire LA Times article, click HERE.