Tarzana Overview
· THE AREA
· Homes in Tarzana
· Price of Homes
· The Neighborhoods
-The Gates
· The Community
· Demographics
· Working in Tarzana
· Tarzan. Yes, Tarzan.
· THE LIFESTYLE
· Tarzana: A Quiet Community
· Tarzana Landmarks
· Diversity
· Schools
· Commuting
· Relocating to Tarzana
· THE MARKET
· Why Choose Tarzana?
· The Future
· The Advantage of Owning in Tarzana
· Liquid Properties for Buyers and Sellers
· New Developments
· Earthquakes
· Our Advice on Buying
· Seasons to Buy and Sell
Tarzana is part of the San Fernando Valley, but of all of the valley communities, it is considered one of the most private; you may often find yourself driving past, not into Tarzana on the 101 Freeway Overpass, because this bedroom community is indeed sleepy. But don’t assume that there’s nothing for you here. Full of some of the most beautiful ranch style homes you will ever see, the truth is what Tarzana offers may be too precious to share.
Like much of the valley, Tarzana offers year round moderate temperatures averaging in the 70’s, a short commute to the beaches, and a community of dedicated citizens committed to the maintenance of the community lifestyle. But that’s where the similarities end. Tarzana is one of the most affluent, expensive, and exclusive regions in the valley. The average household income is over $100,000, and it is clearly reflected in the quality of living in the rural, intimate community of Tarzana.
Tarzana offers both the wealthy and average citizen an incredible opportunity to invest in some of the best homes in the region. The rolling foothills of the mountains, with sprawling homes on picturesque lots, make Tarzana an incredible place to live. Quiet, diverse, beautiful, with close proximity to the more fast-paced neighborhoods makes it perfect for those who can afford a luxurious lifestyle.
We hope that you’ll find the following profile on Tarzana informative and useful on your search to find the perfect home. Please feel free to contact with any questions you might have.
· THE AREA
· THE LIFESTYLE
· THE MARKET
SECTION 1: The Area
Background
The area of Tarzana has a storied place in California’s past, and in the history of the City of Los Angeles. Embedded within in Los Angeles’ vast and popular San Fernando Valley area, Tarzana was originally part of the San Fernando Mission established in 1797 by Spanish settlers and missionaries. The area was later claimed by Mexico and then America.
At this point, the mission region was converted into a farming and cattle district; American frontiersmen lived out their dream in the last of the wide opens spaces in the continental mainland, giving rise to a flourishing economy of cattle ranches. In 1870, investors seized on the agricultural potential of the land and created wheat cultivation companies and farms, making California famous for its fertile farming ground.
In 1909, the surrounding area of Tarzana was incorporated and purchased by the Los Angeles Suburban Homes Company. General Harrison Gray Otis, the legendary Los Angelino that founded the Los Angeles Times and gave rise to the famous Otis family name, was a prominent investor in the company and had large influence over the company’s investments. Tarzana became an attractive investment for two groups: one to develop a land of pottery ranches and berry farms in the outlying area, the other for real estate development.
The remarkable California History is only the beginning of what makes Tarzana Real Estate so special. Come in and see why.
· Homes in Tarzana
· Price of Homes
· The Neighborhoods
-The Gates
· The Community
· Demographics
· Working in Tarzana
· Tarzan. Yes, Tarzan.
Homes in Tarzana
The Tarzana ranches of the past set the precedent for the ideal modern Tarzana ranch style home, and the level of opulence and expanse of the architecture directly relates to how much money has been invested. However, even the most modest ranch homes have a spacious feel and certainly compete with the more expensive homes found in the foothills. This frontier-style living and wide open feel of the ranch home has survived the subsequent years of land development, and large, rustic gardens and yards remain a popular ranch feature for more than just the high median homeowners. In fact, it is the norm for any property owner in Tarzana.
Going as far as the flat pasture areas north of Ventura, the ranch theme of pastures and the horse farms are retained in these hidden and relatively sparsely traveled areas of the South Valley. Tarzana is not really near anything except other posh residential areas such as Encino, Reseda, and Woodland Hills, so most non-residents only see Tarzana from above on the 101 Freeway Overpass, or on their way to another part of the Ventura District when they drive through. The rustic and rural out of the way experience permeates Tarzana, and this is reflected in the architecture as well.
This doesn’t mean that Tarzana is a stranger to architectural progress. The traditional ranch style is being complimented by nouveau architecture in public buildings such as the Encino-Tarzana library. The new 12,000 square foot Los Angeles city structure bridges tradition with innovation in Tarzana, architecturally and culturally. It retains the intimacy of Tarzana while expressing a dynamic and innovative form of architecture; we expect this to set the tone for further tasteful and innovative commercial development in the future. Make sure to stop by this state of the art facility – it’s an incredible achievement of the information age, from its collection of books to its computer facilities.
Tarzana homes still reflect the traditional architectural approach, especially in older luxury real estate properties but also in the spectacular new properties. Landscaping is an architectural priority of Tarzana culture, and this aesthetic priority is evident in the many hill and mountain views. Outdoor amenities such as large yards, pools and hot tubs optimize the lifestyle and maximize the joy of living in Southern California. Any home purchase will very likely contain one or a combination of these outdoor amenities and landscaping for which Tarzana architecture is famous.
Prices of Homes
Property buyers in Tarzana are primarily looking for a first home. Whether it is to start or raise a family, or just to own as an investment, Tarzana is perfect because of its convenient access to the thriving and dynamic L.A. metropolis and the many opportunities that are available to be pursued there.
Homes in the area are an average of 33 years old, and the median home value is a healthy $1,160,000. This is relative to a median household income of $51,420 and owner occupied housing of a rate of 55% (with rental occupied housing comprising 42%) indicating a lot of investment in properties with a high appreciation value.
We must point out that the median average value for a home can also be misleading, because home value does not necessarily imply east of liquidation. In this recession type of economic phase we are in, spending has slowed, so most people are not liquefying their real estate assets in Tarzana, but rather sitting on their valuable properties.
The price of the properties remains high, but the actual sale value at this particular time of slow spending may be less, so do not jump to any conclusions. Be sure to ask us for advice.
Tarzana's Neighborhoods
Mulholland Park, Silverhawk Ridge and Monte Verde Estates are the most coveted and exclusive areas of Tarzana. The neighborhood basically increases in exclusivity as one winds their way up the drive from Reseda to the end of Tarzana. The gated communities from the bottom of the hills are already posh and exclusive, and only get more so as one ascends.
Author Edgar Rice Burroughs bought the most exclusive areas of Tarzana from LA Times publisher Harrison Gray Otis, at the very top of the foothills of the Santa Monica Mountains. After Burroughs bought his property, which he named Tarzana estates, he soon after subdivided the properties. Mulholland, Monte Verde and Silverhawk were the communities that evolved out of the original range owned by Burroughs that covered the entire peak of the foothills of Tarzana.
To be fair to the rest of Tarzana, the lower pastured neighborhoods north of Ventura, such as Melody Acres, represent some of the most ideal pasturelands of any neighborhood in Los Angeles. Many who and seek out residences in Tarzana prefer the pastured landscape, making Melody Acres a prized neighborhood in Tarzana as well.
By the same token, the lower areas such as Braemar are also highly desirable, and may be more realistic for certain budgets. Ultimately, what becomes clear is that entirety of Tarzana is one of the most desirable communities in California.
Read More about what’s beyond The Gates
The Gates
Though much less known, Tarzana holds a vast area of gated and secluded communities on par with the Malibu Colony in terms of their exclusivity and seclusion, and certainly larger in terms of land mass and property space. The gated communities in the hills are where the most opulent properties are - multimillion dollar homes where celebrities and some of Los Angeles’ oldest families live.
Gated communities such as Braemar sit lower on the hills, and the more exclusive ones are clustered high up in the foothills of Tarzana hills. These communities, Mulholland Park, Silverhawk Ridge and Monte Verde Estates, are in actuality some of the most exclusive and desired neighborhoods in Los Angeles (and possibly in the country, if not the world).
At the top of all these winding roads, above these gated communities sits the most famous home of them all, the Burroughs Estate. Sitting at the top of Mulholland Park in the area formerly known as Tarzana Estates, it is now divided into a neighborhood of some of the finest homes in California. These homes bear the benefits of a home owners’ association, high tech security features and accompanying amenities that are germane to gated communities, such as pools, gyms, opulent recreation and event rooms.
The Mediterranean climate of the area complements the lifestyle, and the property values, as high as they are, seem like nothing to those who enjoy the benefits of living in Tarzana, with moderate temperature and minimal rainfall and precipitation year round.
The Tarzana Community
As trite as it may sound at first, Tarzana is indeed a playground for the rich, and for those who are not wealthy, Tarzana is for those who like to live the good life anyway. Surrounded by Reseda to the north, Woodland Hills to the west, Encino to the east, and the Santa Monica mountains to the west, Tarzana has quick access to the hidden rural areas on top of the hills, as well as some of Los Angeles’ busiest commercial centers along the commercial artery of Ventura Boulevard.
For those who want to hit the footlights of Hollywood, the 101 Freeway passes right through the northern tip of Tarzana and puts you on Hollywood or Sunset Boulevard in minutes. After that, the commercial megalopolis of downtown Los Angeles awaits. The 101 also crosses the 405 just east of Tarzana, at which point you can catch the 405 heading to all the parts of Southern California.
However, the majority of Tarzanians are quite thrilled to stay home in their beautiful neighborhoods and their sprawling homes north of Ventura, or in the rustic foothills rising up to the south with Melody Acres. Two country clubs, El Caballero and Braemar, are available to residents as they climb southwest, and farther up are the most exclusive areas where celebrities and the richest families live. With the commercial center of Ventura just down the hills, where there are excellent ethnic restaurants and movie theaters, it does raise the question – why ever leave?
Drive to the top of the hills of Tarzana and see some of the most magnificent views of Greater Los Angeles, stretching in all directions. In Tarzana, life is definitely good, whether you are a multimillionaire living high up in the hills, or a middle class professional that enjoys going for beautiful rides in the country or the hills.
Tarzana Demographics
The facts will give you an accurate picture of Tarzana. The population of Tarzana is 30,482. There is a healthy population growth index of 9.7%. The median age is 41 years, and the median income is $55,921, with a cost of living index of 251.
Tarzana caters to everyone, but as evidenced by the median home value, it is a community that only a certain economic class (upper middle class and above) can for the most part afford. A breakdown of the community shows a large amount of married couples, 66.3%, with less than half of them raising children (26.9%). The single community represents one third (33.8%) of the total community, with an even breakdown of male (50.7%) and female (49.3%) residents.
Figures indicate a community comprised primarily of young couples, and implies that people eventually move way for the later child-rearing years. In effect, Tarzana is a good place to meet someone and get married, according to the population and demographic figures. In terms of property planning and propriety, Tarzana is an area where couples may find a first home. At the same time, while there are fewer families, 26.9% is encouraging enough to provide a viable option for couples looking to stay in Tarzana for the long term and raise kids.
Working in Tarzana
Tarzana is a healthy and affluent community, as far as economics are concerned. The unemployment rate is a modest 5.6%. Recent job growth is slow but steady, with an anticipated boom of future job growth to 12.8%. Economically, it is a relatively liberal community, with a voting public of 63 % Democrats to about 35% Republican.
As a bedroom community, the job market there is small, but there is a core of companies that provide a business environment of clear and specific opportunities for those seeking employment. Can-Am Studios is one of them, offering entertainment and media opportunities. In terms of the retail market, there is a healthy strip of thriving delicatessens that distinguish the area ethnically and economically. There is also a collection of strip malls along the highly commercial business artery of Ventura Boulevard.
In Tarzana, there is a strong base for medical professionals, with the nucleus being the Encino-Tarzana Medical Center. Also, for those looking for office or administrative work, there are a decent number of smaller medical clinics, law offices, real estate agencies, country clubs and professional offices that provide employment.
Tarzan. Yes, Tarzan.
The name says it all, or at least most of it. Tarzana is indeed named after the fictional character Tarzan himself, thanks to the substantial real estate investments his creator, author Edgar Rice Burroughs, made here. In 1915, he purchased Harrison Gray Otis’ land, and renamed the property Tarzana Ranch, which he then subdivided and sold for residential development. The outlying small farms were also converted to residential areas at the same time. But it wasn’t until 1927 that the area officially became known as Tarzana, when residents renamed the town in honor of Burroughs and to commemorate perhaps the greatest literary character of all time.
Being an affluent area of Los Angeles, with relatively remote and private regions just minutes off the urban hub, there is also a significant celebrity presence. Celebrity residents include actor Jamie Foxx, actress Lisa Kudrow, filmmaker Paul Thomas Anderson, actress Maya Rudolph, Grammy Award winning producer David Kershenbaum, comedian Carlos Mencia, actress Eva Longoria, and Persian singer Dariush Eghbali, to name a few. As you can see, Tarzana has a little something for everyone when it comes to famous homes.
Celebrity gawkers may recognize Tarzana as the place where Britney Spears shaved her head in early 2007. Drive around and you’ll also recognize sites in Tarzana that have been locations for movie shoots. Portola Middle School was used for Thirteen and The Karate Kid. In Tarzana resident Paul Thomas Anderson’s film Magnolia, the Tom Cruise character Frank Mackey was born and raised in Tarzana. The climactic scene of the movie takes place on a corner that is visible in many Paul Thomas Anderson movies, at the intersection of Reseda Way and Sherman Way. In addition, Tarzana Armenian Deli in has been used as a location for HBO’s Six Feet Under, where two of the main characters, David and Keith often converse over lunch.
SECTION 2: Lifestyle
Introduction:
Tarzana is still thriving after the post-war boom in the 30’s and early ‘40’s. Many residents who moved here during that time have never left, and more have continued to come in, making Tarzana one of the most sought after and exclusive neighborhoods in the country. The subdivisions of the past are today sprawling estates, especially as other areas have subdivided their real estate lots many times over to accommodate the ever-increasing population. Those who desire wide-open spaces are the ones who end up in Tarzana, just like the character after whom the area was named.
Living here feels rural, but still incredibly cosmopolitan. The real estate boom brought extraordinary diversity to the community, to the delight of residents looking for local, but worldly experiences. There are many ethnic restaurants offering delicious cuisine from all over the world. A wide variety of shopping options are available to any age group and of any lifestyle. Walk down the Tarzana stretch of Ventura and you’ll see exclusive boutiques as well as many deals to be found for the smart shopper.
It’s easy to see why so many young families are starting out in Tarzana, as it offers the kind of amenities most only dream of. Tarzana does cater primarily to an upper middle class lifestyle, as the homes are large, spacious and deservedly expensive. However, anyone who bought homes in Tarzana when prices were more moderate and affordable is now enjoying upper class property values with middle class incomes.
The tranquil atmosphere that was established when Tarzana was first formed still remains. Parks, a freeway, banking facilities, a modern ice skating and bowling center, state of the art medical facilities, and country clubs all offer the good life for anyone, either rich enough or smart enough to invest in a property and set up a life here.
There is enough to sustain any lifestyle, but the natural resources are definitely a highlight that gives Tarzana an authentic and rustic feel, mixing the small town values with metropolitan access to the greatest and most booming city in the world.
· Tarzana: A Quiet Community
· Tarzana Landmarks
· Diversity
· Schools
· Commuting
· Relocating to Tarzana
A Quiet Community
One aspect of Tarzana that takes no getting used is the privacy. Aside from the gated communities and country clubs, Tarzana itself is just removed enough from the rest of the valley so that even the most dedicated night-owl will love coming home to this rural community, or on occasion may even stay in for the evening.
Tarzana, thankfully for its residents, has no major events or attractions that draws large throngs of people at any point during the year. The community remains quiet, secluded and rural and has a limited amount of district-wide events. A farmer’s market and local holidays help retain a small town, folksy feel for the residents.
However, as Tarzana country clubs such as Braemar and communities such as Mulholland Park begin to develop and market themselves, they are each generating their own sets of calendar-based community events for their membership and residents. Other communities are joining the trend, and within Tarzana, each subdivision is actually creating local events for their residents and giving Tarzana a new local dynamism and a diverse identity made up of a network of mini-communities.
Tarzana Landmarks
The best-kept secret in Tarzana, surprisingly enough, is also the most obvious. It is the home of Edgar Rice Burroughs, stationed at the top of the most exclusive neighborhoods in Tarzana, in the fertile area once incorporated as Tarzana Ranch. Now Tarzana Ranch has been subdivided and developed into some of the most beautiful collection homes and spacious landscapes in the city -- but the crown jewel, Burroughs’ mansion, remains standing as a historical landmark.
With panoramic views in all directions from the top of the Santa Monica Mountains and along Tarzana’s southwestern ridge, Burroughs’ mansion is as spectacular as the Greystone mansion in Beverly Hills, and the Hearst Castle up the coast. It sits on top of windswept hills, looking out over the valley in one direction and the ocean in another, and the Los Angeles Basin in a third. There are also a large number of easily accessible paths and trails to the hills.
On the grounds of the mansion is massive six car garage, as well as an opulent ballroom that is only for show these days, as well as colossal theater and gazebo, along with the many standard amenities that Burroughs adorned his estate with.
A Diverse Community
The most appealing characteristic of the Tarzana community is its established ethnic and economic diversity of the area, reflecting both the new immigration influx and long established ethnic commercial centers such as the many delicatessens that are an integral part of Los Angeles history.
Among Tarzana’s approximately 30,000 residents, the racial constitution is predominantly white at 78.9%, but among other ethnicities there is a healthy mix, with Asian (5.6%), Black of African-American (3.8%), and Hispanics (13.1%). However, among those ethnicities, 35% of the population is foreign born, among them 21.9% born in Iran and 10.6% born in Mexico, making for an incredibly diverse population that is obviously reflected in the appetizing array of eating options in the small and concentrated areas of Ventura Boulevard that passes through Tarzana.
Persian restaurants, booksellers, and language schools all sustain and reflect the high level of diversity within the limited geographical area of Tarzana. There are four synagogues supporting the well-established Jewish community and the widely known Israeli bookstore chain Steimatsky also maintains a presence here with a retail store. Delicatessens are provided not only by the Jewish community in such well-established LA institutions as Mort’s Deli, but also by the Armenian community with the Tarzana Armenian Grocery.
Can-Am Recording Studios also provides a professional music recording presence that is popular and relevant to the identity of the community by also functioning as a diverse cultural center.
Tarzana Schools
Tarzana residents have access to an excellent public school system supported by the Los Angeles Unified School District, and some exceptional private schools. With respect to the fact that many of the closer options are found outside of Tarzana proper due to the limited size of the community, the schools in Tarzana proper include:
Faucher Academy (grades 4-12): a private school with an enrollment of 31 and a student/teacher Ratio of 6 to 1 that parents appreciate for its smallness and focus on students - a high priority expressed by parents for schools in the area.
Gaspar De Portola Middle School (6-8, public): Enrollment, 2084. As far as the “grapevine” is concerned, parents call De Portola one of the better schools in the valley, with good teachers and decent class size, and parents are further encouraged by the high rankings of the API scores in the district (2nd) and the relative safety of the school. There is also a wide array of honors programs available, and counselors characterized by parents as “caring.”
Lycee International of Los Angeles (K-5, private): at the “Lycee,” with an enrollment of 81 and a student teacher ratio of 12 to 1 at this private elementary school, parents have expressed varying degrees of satisfaction, with some issues arising regarding the skills of the new principal. However, most parents are pleased enough with the assured bilingual skills that their attending children will emerge with from this educational institution, and this is a significant educational selling point for the private school.
Nestle Avenue School (K-5): a public elementary school with an enrollment of 521, Nestle has received very positive evaluations for the teacher from parents, implying that a strong bond has sprung up between their children and teachers. There is an institutional commitment demonstrated at this school to teacher attentiveness and awareness. The attentiveness of teachers is clearly the strong point their school.
SAGE academy (K-8): a small private elementary and middle school of enrollment 51, SAGE has an intimate student teacher ratio of 5 to 1. This school is also known for its caring teachers and students express a high level of enjoyment at these schools, to the delight of parents.
Tarzana Elementary (K-5): the local elementary school has an enrollment of 542, and full classrooms. Without the same financial resources as private schools, Tarzana elementary nonetheless has shown steady improvement in offering competitive education through the public school system that maintains high levels of instructional standards through scores, parental participation, and after-school programs. The staff also has acquired a reputation as being friendly. Extracurricular offerings are another relatively strong suit, and the only thing this school could use more of is parent participation in maximizing the educational opportunities at this school.
Tierra Montessori School (K-1): Tierra is a small private Montessori elementary school with an enrollment of 25, and a student teacher ratio of 3 to 1. Both extracurricular and curricular education supports highly gifted children with diverse educational options from martial arts to music to foreign language, and this school is a real prize. The fact that the unstructured learning environment allows children to learn at their own pace was also a source of high marks from parents in the community, and enriches the educational experience from very young age.
Wilbur Elementary School: a public elementary school, Wilbur has an enrollment of 673 and larger classes in the 25-30 range as well. Concerns from parents have been raised about the lack of individual attention that their children receive, and a level of favoritism that crops up as far as which students get the best teachers. For parents on the PTA or Booster club, this is good sign, but for other busier or less involved parents, their children seem to be threatened with to be placed in less appealing classrooms. Nonetheless, the traditional element of the community school still bears a level of appeal for parents.
Woodcrest (K-5): a private elementary school, Woodcrest has an enrollment of 140 and teacher/student ratio of 9 to 1. The small classroom sizes are naturally appealing to parents, as well as diverse different daily programs for kids, from swimming to dance to computers. The focused learning is the key to the effectiveness of this private school.
As far as universities are concerned, the Cal State system provides a nearby university in the Valley - Cal State Northridge. Pierce and Valley community colleges are also in the general vicinity for community college options. Of course, just over the 405 is the beautiful UCLA campus, for high achieving students who want to join the UC system and stay close to home.
Commuting
Located within the Los Angeles Metro area, Tarzana holds status as a ‘bedroom’ community, with many residents commuting to jobs in the city and surrounding communities. Many businesses are clustered along Ventura Boulevard, which runs along the northern border of Ventura. Other than this strip, research says that the community does not really have a commercial core. As far as getting around, let’s face it: Los Angeles is a driving town. If anyone wants to get around with any level of convenience, a car is a necessary form of transportation.
Carpooling is always an environmentally friendly and cost efficient option, especially these days where global warming and skyrocketing gas prices are immediate concerns. For anyone in Tarzana with a little patience and a tighter budget, there are buses running all day and night and with a high level of frequency up and down Ventura Boulevard, connecting riders with the Sepulveda Overpass Transit that takes them straight into the entertainment village of Westwood (as well as the UCLA campus), and from there to anywhere in the popular Westside.
Farther down Ventura to the east is the Metro Station in Van Nuys, linking riders by subway train to Hollywood and downtown in the east and Simi Valley and the outer San Fernando Valley in the west. These options are more time consuming, but significantly less costly, especially when one considers the cost of repairs and insurance in addition to gas.
As far as traveling within Tarzana is concerned, a bike can get any Tarzanian to one of the many restaurants on Ventura Boulevard, as well as the redone Sherman Oaks Galleria (in neighboring Encino) which is slightly farther east on Ventura Boulevard, and offers an array of shopping and entertainment options.
Relocating to Tarzana
Wondering when to make your move? To be honest, and in light of most other regions in the country, most any time of the year is the best time to relocate. However, if you are looking for ideal times to move, you should consider the spring or fall. The winter months can get chilly, with average temperatures in the valley dropping as low as 46 degrees, which can get pretty nippy, especially for sunny Los Angeles.
Thus, the warm and temperate spring is a good time to move, just before the sizzling temperatures of summer arrive. The average temperature in July is 90 degrees, and on a daily basis, you don’t want to be moving around too much in those conditions. It’s much better to be by the pool. By the same token, once it starts cooling off into the beautiful Los Angeles Autumn, it again becomes a good time for moving. On second thought, for anyone moving from colder regions of the US, even our worst winter wouldn’t seem too bad.
The real challenge is trying to move during the sizzling conditions of summer, so that is the time in which moving should be avoided, but it can certainly be accomplished if necessary. The best time to move during a typical summer day would be in the fading hours of day as the evening cooling begins, or early in the morning before the sun gets too high. As far as rainfall, the winter in Tarzana averages about seven inches, with an average of 27 days of precipitation. Not much of a risk for a move.
But in Los Angeles, the rain tends to come down in clustered sheets, so you wouldn’t want to get caught trying to move during a winter squall, as few and far between as they are. They are nonetheless considerable deluges when they do come. Still, there is absolutely no snow, so once again, rain may not faze a relocating Midwesterner or East Coaster, but it can certainly be fatal to the furniture.
SECTION 3: The Market
There is something for everyone in Tarzana, especially as far as dwellings are concerned. Tarzana homes offer the option of single-family detached homes, town houses, condominiums, ranch style homes, and apartments. The single-family homes represent the most variability and diversity in value, ranging from a moderate $350,000 to those multimillion-dollar homes that can top $7 million in value.
There are currently 378 homes on the market in Tarzana. Of these 378 homes, a scant few are newly constructed, a testament to the value of Tarzana property that has minimized the amount of undeveloped land. Tarzana land is too attractive to be left undeveloped, and that’s the bottom line. By the same token, it would be foolish to rule out the possibility of new developments cropping up on the sprawling lots that are ubiquitous to Tarzana.
This section will give you more information about the future of Tarzana, and your future here.
· Why Choose Tarzana?
· The Future
· The Advantage of Owning in Tarzana
· Liquid Properties for Buyers and Sellers
· New Developments
· Earthquakes
· Our Advice on Buying
· Seasons to Buy and Sell
Why Choose Tarzana over a similar neighborhood?
The entire range of culture and activities of the city of Los Angeles and the state of California is just an ignition key away for Tarzana residents.
Now there are many cosmopolitan environments with commercial centers around Los Angeles, but Tarzana is unmatched for its centrality of location. The 101 can take residents twenty minutes one way to the beaches of Malibu (without traffic - sometimes it’s more difficult in commuter heavy Los Angeles), and the northern California coast beyond; in the other direction, you’re 20 minutes to the all-night debauchery of Hollywood, the culture of the Los Angeles Country Museum, or the shops and commerce of downtown Los Angeles.
The 405 intersection is less than two miles east on Ventura north to the 101, providing the option of going south through the intersection of the Westside, the South Bay Beaches, and the increasingly beautiful beaches that dot the coast up until the jewel of San Diego (a mere two hour drive). In the other direction to the north, the roads leading to Las Vegas and San Francisco make these hotspots a tank or two of gas away.
Furthermore, Tarzana has proven to be the perfect place for singles, families, and long time residents. From diversity to excellent schools, quality medical care facilities and treatment centers offered by the Tarzana Medical Center, Tarzana has it all. With this kind of access to services, leisure, and the magic of the rest of California and beyond, your future here should be as clear as a crystal ball.
Future of the Tarzana market
Consumer spending is down, we are on the verge of recession, and foreclosures in Tarzana are popping up like popcorn. What does that mean for real estate? Look for property values in Tarzana to continue to drop, reflecting the weakening dollar. As far as Tarzana real estate goes, any homes bought as foreclosures may not be so quickly liquefiable, even with lowered prices, because consumers are just not as readily inclined to purchase anything or spend any money.
In effect, anyone looking to invest in real estate in Tarzana is going to have to think hard about sitting on those properties for some time. The low price is undeniable, and the appeal of getting houses at a cut rate obviously has positive consequences down the road. Ultimately, however, how far down the road is just about anybody’s guess.
At the same time, real estate is one of the most reliable investments that exist. There will be someone out there willing to buy a beautiful home at a lowered price. However, finding that buyer will take some time, and sellers may not get as much as they set their price floors at, as the perceptions deepen and prices continue to drop.
Of course the recession could end, and consumer spending could pick up again, but that process will take a while at best. This is a great time to buy, but a more challenging time to sell, without making some compromises in closing price. Just remember, property value never goes down. And in Los Angeles, it goes up faster than just about any other area.
Tarzana is one of Los Angeles’ most exclusive and sought after areas, as well as being completely full in terms of residential lots. As far as residential real estate is concerned, the only way to get in to Tarzana is to buy, as there are no lots available for development, and no abundance of subdivision that would offer mass opportunities for investors to get in on the area property values. Your investment would be long term, but well worth the wait.
The Advantage of Owning in Tarzana
The ranch home property of Tarzana is advantageous to own for several reasons. First of all, the sprawling areas that comprise one housing lot in Tarzana are expansive enough to develop two or three properties for investors and speculators. Otherwise, just sitting on the property once it’s purchased is still one of the most stable investments out there, despite the economic crisis. Real estate is relative, and it will remain one of the most solid investments, on par with gold in terms of stability and asset liquidity. And a Tarzana home will always be an extremely valuable property thanks to its reputation.
In fact, the prospect of 10-30% appreciation associated with attractive areas in Southern California remains a reality. Buyers from the 1990’s are still benefiting form their investments from the previous decade. The fact is that despite foreclosures, slow recession spending, liquidation of assets, and failure to make payments on homes that have given rise to foreclosures, the actual value of Tarzana property has continued to rise steadily.
Whether it is a buyer’s or a seller’s market depends on the era, but the actual appreciation will continue nonetheless. These days, low interest rates and corporate layoffs can have the biggest impact on the rise of property values, but the values will continually rise no matter at what pace. Real estate is as stable an investment today as at any other time in history, and you should feel extra comfort in how highly prized and valuable Tarzana property is.
A home with the right purchase price, meaning at the lower end of the median range price-wise, is a good value in Tarzana, and a stable as well as smart investment with a high upside (rapid appreciation) and minimal downside (slow growth). In effect, the worst thing that can happen to home value in Tarzana is only a slowing of the growth rate of a highly valuable property located in one of the most coveted areas of Los Angeles.
Liquid Properties for Buyers and Sellers
The most liquid types of properties in the area of Tarzana for buyers are foreclosures. Research shows a whopping 119 foreclosures over the past year, as well as a current count of 194 properties available on the market right now. At a median price of $315,000 in 2007, this represents a dramatic discount in an area where the average price is almost $1.5 million for a home! For sellers, real estate classifieds are the way to go, as research from the past year indicates that this is the only other form of listing that takes place in Tarzana, with 179 homes going for an average of $789,000.
Either way, in light of the median value of a home, we are looking at a depreciated real estate market, as far as home sales in the current climate are concerned. In a property speculation sense, with prices down, the value of holding onto a house is greater than selling it. So, unless an individual cannot afford their home, they will not be inclined to sell for the most part. That makes foreclosures the most liquid type of property for buyers, and an indication of the relatively high amount of foreclosures available.
The depreciation in price can certainly be traced to the housing market in Tarzana over previous years, and bears noting as the primary determinant for liquidity. After significant growth for five years, there was a precipitous drop in the value of homes in Tarzana, from 732 K to 680 in the past year, after a steady and dramatic four-year rise from about $420,000 in Jan 2004 that topped out from 2006-7.
New Developments
There are no new developments or subdivisions in Tarzana because most of the land is used up. Despite its proximity to the Ventura Boulevard commercial thoroughfare, Tarzana is a small and rural area. All the land on it is incorporated, and owned as part of a ranch style lot. However, the spaciousness of ranch lots provides ample opportunity for subdivision.
The main delay for subdividing is an aesthetic one - general design sensibilities and local architectural and landscaping styles maintain wide-open spaces, which in turn maintains the high median property value. Many developers tend to forget that space on an individually owned lot has a lot of value and drives up the price of single lot dwelling rather dramatically. In fact, nowhere may this be truer than in Tarzana.
North of Ventura, a small amount of large flat property lots do exist. Extending to Ventura Boulevard, there is a wide range of medium density housing that maintains horse properties and represents significantly valued land and affluent residents. These are the areas that seem most fertile for development, because they lie on flat spaces with considerable area to develop multiple properties, in an area where the ownership concentration is high but the residential population concentration is relatively low. People pay large amounts for single properties in Tarzana, so its flatlands are the most topographically inviting areas for development.
Earthquakes Warning (they don’t just happen in the movies.)
California is earthquake country. We all know it. There’s no point in hiding the facts. Tremors take place in California all the time, many times during the day somewhere in the Southern California area, though with limited intensity. It’s the big ones, or the ‘Big One’, that Southern Californians worry about. But Los Angelinos are used to living with the rumbles, especially since the Northridge Quake.
There is nothing that can prepare one for a massive earthquake, the likes of which was last seen in Los Angeles in 1993, during what is now known as the ‘Northridge’ earthquake (due to the brunt of the damage absorbed by this nearby valley community). While most of the damage was in Northridge, Tarzanians certainly felt the tremors that continued for long after the major quake, possibly more than any other neighborhood, including Northridge. Though Northridge was most structurally vulnerable to the tremor, the epicenter was closer to Tarzana, on the border between Reseda and Encino.
In fact, Tarzana may have felt the physical impact of the 1993 quake more than anywhere else, according to a motion instrument installed on Tarzana hill, six miles from the epicenter of the Northridge Quake. Research shows that in reaction to earthquakes, the acceleration in vibration of land in Tarzana is disproportionately high, in relation to other areas at equal distances from the earthquake epicenters that occur all around the Southland area. What this means is that Tarzana has a high rumbling and vibration quotient that you may feel in your home or while walking on the street in the neighborhood. In other words, learning to live with tremors is a part of living in Tarzana - a word of caution for the faint of heart.
Yet, even for the faint of heart, the rumbles are really nothing more than a minor inconvenience. Besides the worst case scenarios of the Northridge Quake (which killed a total of 57 people), the Sylmar Earthquake in 1971 (where the epicenter and majority of the death toll of 14 was also in the San Fernando Valley), and the Long Beach Quake of 1933 - the three largest Southland quakes of the Twentieth Century - the danger of the California quake is more a psychological reality than it is a physical reality. The biggest threat of the quake is to your personal comfort zone.
The one characteristic of Tarzana that has been empirically proven by the seismic motion detector on Tarzana Hill is that land in Tarzana rumbles and vibrates at a disproportionately high rate to other areas. As far as actual physical danger and damage, Tarzana has proven no more susceptible than any other part of Los Angeles, and the damage to Tarzana from the Northridge Quake represents a dramatic drop off from the damage to Northridge only six miles away.
You can take this to mean whatever you want. Or better yet, do your own research. The bottom line is in Tarzana that you will feel quakes (all the time) exponentially more than you actually suffer physical injury from them (slimmest of chances at best). Despite the tremblers, Tarzana is historically as safe as any other community in Los Angeles when it comes to earthquakes.
Earthquake preparedness is the key to peace of mind for anyone looking to buy a home there, or for anyone looking to buy and sell real estate. Suffice it to say, the disadvantage of being in earthquake country is considered relatively insignificant as far as quality of life is concerned, especially in direct comparison to the advantages of living in the center of Southern California and the heart of Los Angeles.
Our Advice on Buying
Tarzana is brimming with homes for sale, but finding a sound property is not automatic. Like with any deal, especially in real estate, due diligence is important. Any area must be thoroughly researched before it is bid upon. One must always keep in mind that below the surface of a beautiful property on a beautiful piece of land with a breathtaking view, the issue of structural integrity still trumps the situation when it comes to home investment, management, or dwelling. No matter what the price, no one wants to buy a headache. And if you didn’t know this before, take heed now.
That is why background and supplemental material such as reading available print and on-line profiles about specific properties, consultation through word-of-mouth from business associates, friends, residents, or real estate experts is important. Make sure to view a wide range of homes and properties in your area, as well as properly research the schools and local services in order to make sure you are maximizing the value for your dollar, no matter if you are looking at foreclosures, low end real estate, or top dollar mansions.
Careful planning also remains essential at all steps of the purchase process. Besides keeping your information organized on your computer, a pre-qualification for a loan will also inform you as to the purchase options available to you for buying a home in Tarzana. The pre-qualification will give you a budget for the purchase of your new home.
And remember, you should not top 30% of your month income in establishing a mortgage payment. Tarzana is a great investment, but no investment pays off without proper and sufficient planning. Don’t even worry about homes that are available, and don’t even start looking, until you have followed the planning steps. Then, when you see the home of your dreams, you can seize it on the spot.
Tarzana represents a great opportunity, with foreclosures and sales up, and values down. The trick is to not get ahead of oneself, or get presumptuous. Investment is a delicate process, and the ideal conditions are only the beginning of the process of achieving profitability and sound long-term value.
Need more advice? Don’t hesitate to call us.
Seasons to Buy and Sell
With minimal precipitation and rainfall, and a climate that can closely be characterized as Mediterranean, there is absolutely no ideal “season” to buy or sell - every season is ideal in Tarzana for purchasing or moving. To schedule a real estate campaign around times that are most seasonal from a real estate perspective would be basically pointless here. We think looking at moving patterns on the good old calendar is the best indicator of the transaction market.
Most people like to move before the beginning of the school year, or early in the summer so they can settle in and get their kids ready for school. After June is also a good time to move, as soon as the school year has ended. The weather is always moderate in Tarzana, especially in the hills. The summer can get a bit toasty, but transactions can be marked in terms of viability most specifically round the fall, when new jobs often begin and the school years starts up. Under is idyllic surface, Los Angeles is a business town, and despite its unique qualities, Tarzana is still Los Angeles at heart.
As far as inclement weather, that is never a factor. Also, it’s nearly impossible to say that Los Angeles is less desirable at any one time of the year, because each season has it own moderate charm. The winter is fresh, the spring immaculate, the summer is nice and hot with a resort feel, and the fall breathtaking; be it on the green flatlands and pastures of Tarzana north of Ventura, or in the rustic climes of the Tarzana foothills.
Any time of the year is a good time of the year to buy a house and move to Tarzana. But the biggest business push is definitely in the fall. The difference between Los Angeles and other towns with similar climates is that Los Angeles has clear business seasons. After the fall, the beginning of the year is also another strong season for making deals and starting projects.
Tarzana is truly a year-round paradise. Feel free to start the process of buying or selling anytime.
Real Estate Areas of Expertise
Encino Residential Real Estate | Tarzana Residential Real Estate
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