Tough housing sales on famed TV/film street in Van Nuys


Looking for a scenic neighborhood to buy a home? How about one you've probably already viewed on scores of TV shows and commercials? The 6200 block of Orion Street in Van Nuys is also known as Cameron Woods.

Neighbors say homes typically have been snapped up here before they are even listed -- until now.

There's a fixer-upper that has been vacant for two years and on the market for three months.

There was a prospective sale that just fell out of escrow.

Does this signal the bottom of the housing slump, or could the slowdown get worse?

David Nolet is in the home his family moved in when he was 3 years old. He says you couldn't have asked for a more stable block.

"The whole time I was growing up here nobody sold. Everybody stayed, they were all raising their families until they were up and ready for college," said Nolet.

It was about five years ago when fortunes turned. One neighbor says his house was valued at $1.3 million then. Now it's assessed at less than half of that.

The price of the vacant home has never been upgraded since 1949: $479,000. Realtor Julie Bate says that it's a deal.

Bate says there are signs the market is improving: more homes in the Valley are getting competing offers and one home on Orion is drawing many lookers for its beauty, its value and for good neighbors.

"There is still a lot of pride in the neighborhood, and we are still here, all of us, from the olden days," said Nolet.

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