Imagine living in Los Angeles and not being tied to your car. If you are buying a home in Los Angeles right now the new Los Angeles Metro Expo Line is almost finished with the last phase, from Culver City to Santa Monica scheduled to be completed by 2015.
When finished the light rail line will stretch 15.2 miles from USC in Downtown Los Angeles through Culver City and ending a couple of blocks from the ocean. Living near one of the 19 stations en route gives new meaning to the term “location, location, location”. Imagine the savings on gas and wear and tear on your car, and possibly the cost of parking, not to mention avoiding the famous Los Angeles traffic.
Another reason for buying near transportation is that historically, according to a report by the National Association or Realtors and the American Public Transportation Association, during the last recession, residential property values performed 42 percent better on average if they were located near public transportation with high-frequency service.
“When homes are located near public transportation, it is the equivalent of creating housing as desirable as beach front property
If you are already living near the Expo Line and considering selling your home, you are sitting on valuable property.
Update: The Expo Line is now finished and extremely well used.
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