Actress Kate Walsh Lists Los Feliz Home at a Loss

The hip and pricey Los Feliz area of Los Angeles has been hit, like all of America, with real estate woes.

The recent listing of "Private Practice" television star Kate Walsh's Los Feliz home at $4.295 million illustrates the decline in prices. She bought the property in 2007 for $4.75 million, and is listing it at a $455K loss. But some websites are estimating that it will sell for only $3.5 million (a $1.2M loss), since similar properties in this neighborhood bordering Hollywood sold for that median price.

So what is the state of Los Feliz real estate? Is Walsh's loss now the norm?

Here's what you can expect if you are looking to buy in this historic and popular area of Los Angeles.