Homeowners Sponsor Real Estate Discussion

A panel of experts will discuss the state of the Sherman Oaks real estate market at a special meeting sponsored by the area’s homeowners association.

Specifically, the panel, made up of business owners and real estate specialists, will address the increasing demand for property in Sherman Oaks as well as rising property values.

“There’s been a lot of talk about Sherman Oaks making a real estate comeback,” said Richard Close, president of Sherman Oaks Homeowners Assn. “Hopefully, this meeting will help us understand what is going on and how to further improve Sherman Oaks and the rest of the Valley.”

Panelists will include Robert Selleck, a key developer of the old General Motors site in Panorama City. Close said projects such as this, where a developer is trying to revitalize an area long believed to be left for dead, are integral to improving the quality of life and business in the area.

A representative of the Douglas-Emmett Co., the new owners of the Sherman Oaks Galleria, will also be on hand to discuss plans to improve the shopping center.

Close said other issues to be discussed include ways for residents to increase the value of their own property as well as investment strategies.

Gary Holme, an association member and past president of the Los Angeles Assn. of Realtors, said the economic and investment climate in Sherman Oaks specifically and the Valley in general is good.

“Sherman Oaks is hot, the whole Valley is getting hot,” he said. “People want to move in, homeowners, businesses. The Valley is definitely experiencing a resurgence since it hit its low point around 1990.”

The free public meeting, scheduled for Feb. 18, will begin at 8 p.m. at the Ventura, 13920 Ventura Blvd.