New Home Source Blog

Hollywood for Sale?

It would appear that fame, indeed, can be bought. Or at least a house right next to it.

A Chicago investment group that owns a 138-acre parcel of land purchased from the Howard Hughes estate in 2002 is selling it for $22 million. Its location? Just above and to the left of the famous, 45-foot-high “Hollywood” sign in Los Angeles.

The potential real estate deal on Cahuenga Peak has residents worried that mansions might be built near the sign, marring the view and the history of the sign. But the real irony is that the huge sign was initially built in 1923 to promote – what else? – real estate.   

Bargain Prices This Spring: Time to Buy?

Reports from the National Association of Home Builders say that bargain prices are attracting buyers across the country, even in some down markets.

Potential buyers are looking in markets where “job growth is strong, foreclosures are low and inventory is high,” including Salt Lake City, Utah; Raleigh, North Carolina; Orlando and Jacksonville, Florida; and Charlotte, North Carolina.

New home choices might include a three-bedroom, two-bath, 1,425 square-foot home in Ogden, just north of Salt Lake City, for $200,000; a 2,300 square-foot home with a covered front porch in Wake Forest from $230,000 ; or a three-bedroom, two-story home with a covered lanai in Orlando from $184,990 .