Sold On Westwood: Remember The 1980s

I think we all agree that the real estate market has hit the bottom and is recovering – but what you don’t realize is that this is one of the best times in history to actually buy some real estate at below market prices and with interest rates that haven’t been this low in decades.

Not since the late 80’s has the market been so good for buyers. Did you know that all of Wilshire Boulevard that was developed and built in the eighties went back to the bank as foreclosures?

All these gorgeous high-rise buildings were vacant or almost vacant and desolate. It looked like a ghost town. Projects barely got off the ground and had to be abandoned.

Who would want to buy a high-rise apartment in a city that was known for single family homes? What a foolish decision these developers made... Or was it?

The smart money quickly bought up as much as they could on the Corridor and the rest is history. 

We live in a city that was transformed in the eighties and nineties to what it is today.  It did halt itself for many years trying to find the right direction.  But the real estate has maintained itself and its desirability in Los Angeles continues.

Look for many new projects popping up all over Westwood. The new luxury theater being built on Wilshire, Target in the Westwood Village for the shoppers and all the new eateries happening all over our town.

Keller Willams Realty