Market Conditions for Hancock Park in Los Angeles, California Reported by Birthe Dooman, REALTORŪ, e-PRO, REC Updated January 22, 2010.

Current Market Rating: 2 1 2 3 4 5 Buyer's Seller's

Current Price Trend: 2 1 2 3 4 5 Falling Rising

Hancock Park is just south of Hollywood in the City of Los Angeles and it is a historic and beautiful neighborhood designed in the 1920s by famous architects such as Paul Williams, Wallace Neff, A.C. Chisholm and John Austin for wealthy people and was constructed by dedicated craftsmen. These mostly architectural homes are often located on substantial acreage and include such luxurious and nostalgic features as ballrooms, large kitchens with butler's pantries, elevators and extensive servants' quarters. The carefully sculptured gardens are as spectatular as the homes and features greenhouses, ponds, fountains and swimming pools.

The present mortgage rates (US averages) as of January 22, 2010 per Realty Times is: 30 year fixed: 4.99%; 15 year fixed: 4.40%; 1 year adjustable 4.32%(U.S. Weekly Averages based on 30-year amortization rate. These days banks are looking for Buyers with great credit scores (FICA score of at least 720) to get a good deal, and with a 20% downpayment if their income warrants it. It is advisable to keep credit card balances below 35% of their credit line for getting a top FICA score.

Current Listings in Hancock Park-Wilshire District:
Homes: 71 ranging from $429,000 to $8,500,000
Condos: 68 ranging from $148,500 to $1,190,000.

December 2009 Sales in Hancock Park-Wilshire District:
Homes: 16 ranging from $484,900 to $3,260,000
Condos: 13 ranging from $257,250 to $675,000

Homes were on the market for an average of 81 days
(average Sales Price/Average List Price: 94.5%).
Condos were on the market for an average of 87 days
(average Sales Price/Average List Price: 98.6%)

All statistical information is based on data supplied by the Combined Los Angeles Westside Multiple Listing Service. Data accuracy cannot be guaranteed and may not reflect all real estate activity in the market. Source of Information: Combined Los Angeles Westside MLS. Information deemed reliable but not guaranteed.


ZIP Codes: 90004, 90006, 90010, 90020, 90036

Approximate Location Boundaries: The boundaries of "Hancock Park" are Rossmore Avenue to the East, Melrose Avenue to the North, Highland Avenue to the West, and Wilshire Boulevard to the South. Its East and West borders are often confused with Larchmont Village and Windsor Square to the East, and the Fairfax District to the West which are their own distinct neighborhoods.

Location Characteristics: Particularly it is a convenient location if you work in, or near, downtown Los Angeles. Close by is the Los Angeles County Museum of Art and Larchmont Village which puts restaurants and cafes, shops and banks, a bookstore, veterinary clinic and the Center for Yoga all within reach. Hancock Park is in the Los Angeles Unified School District and it is also home to the famous Marlborough School for Girls, and the Yavneh Academy, a Jewish school. These 1920s architectural homes are mostly in the styles of English, Spanish, Mediterranean, and French Colonial.

Members of the Hancock Park Homeowners Association include the R-1 single family residences (1206 homes) between Melrose & Wilshire Blvd., both sides of Highland & both sides of Rossmore. Larchmont Chronicle is the local newspaper.

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