Highland Park, Los Angeles, An Up-And-Coming Neighborhood

Highland Parkan up-and-coming Los Angeles neighborhood

Highland Park, Los Angeles is an up-and-coming neighborhood close to Pasadena, Mt. Washington and Montecito Heights. Highland Park is fast becoming the new Echo Park which in turn is the new Silver Lake.  As one community becomes gentrified, the next takes over, and now it's the turn of Highland Park. Highland Park is one of the oldest Los Angeles neighborhoods and one of its most scenic, with parks such as Arroyo Seco and Ernest E. Debs Regional Park .  The Metro Gold Line services the … [Read more...]

Getting Around Los Angeles Without a Car

You can get around in L.A. without a car

Believe it or not, it really is not that difficult to get around Los Angeles without a car.  I am living proof. When we take our cars in for service, or body work or whatever in Los Angeles we almost always arrange for a ride, rent a car or, if we go to a dealership, get a loaner.  Take a bus?  What!  And heaven forbid we should consider walking. Yesterday I took my car in for body work and was going to rent one for the two days it would take.  Then I thought I would see how I could … [Read more...]

Downtown Los Angeles Condo Market Report | 1st Qtr 2012

Downtown Los Angeles Lofts, Santee Village Lofts, Living in Downtown L.A.

Let's check in on the Downtown L.A. condo market to see how First Quarter figures look. The numbers are taken from the MLS/CLAW and are deemed reliable but not guaranteed. Number Sold:  110, a decrease of 3.77% over the same period last year. Median Price:  $283,750, a 2.99% decrease over the same period last year. There are 93 active listings on the market which means, with an average of 36.67 condos sold over the first three months, the market is trending towards a sellers' … [Read more...]

How is the Real Estate Market in Los Angeles Right Now? First Quarter 2012 Stats

Downtown lofts and condos for sale, market report

People often ask how is the real estate market in Los Angeles right now.  The answer I guess depends on whom you ask. According to the MLS there are currently 206 foreclosures and 434 shorts sales on the market in the approximately 73 areas they cover, which actually does not seem like a large number.  And in the areas frequently covered by me there are 43 foreclosures and 82 short sales, still not a large number. The problem right now with standard sales is that inventory is low in the … [Read more...]

Full Service Condo Buildings in Los Angeles

Unlike New York, Los Angeles does not have a surplus of full service condo buildings,  and I get frequent requests for these kinds of buildings, both from prospective buyers and renters. There is one main concentration of full service condos, and that is on The Wilshire Corridor, where most of the buildings have 24/7 concierge and valet service, and full amenities such as swimming pool, spa, gym, conference room, etc.  The other concentrated area is Century City.  Downtown L.A. also has a … [Read more...]

Buying a Los Angeles Home May Make Sense With Rental Prices Rising

Los Angeles Rental Properties, Renting a Home in Los Angeles

An article in today's Los Angeles Times talks about the shortage of rental properties in Los Angeles  and Southern California and predicts that rents will rise 10% over the next two years. Rents in many if not most area markets are already on the way up, and rental properties in Los Angeles What does this mean?  Well, with a shortage of properties, and renters competing for those available, investors will be jumping into this market and buying up suitable rental properties, especially … [Read more...]

Define a Los Angeles Real Estate Buyers’ or Sellers’ Market

Now is a Good Time to Buy

When buying or selling real estate in Los Angeles  we often talk about the market as being a buyers' or a sellers' market, based on the absorption rate. The absorption rate is the number of months it will take to sell the existing inventory based on prior months' sales.  6 months is a balanced market, under six months a sellers' market, and over six months a buyers' market. However the market is neither a buyers' or sellers' market if no one is buying or selling, and ultimately we rely on … [Read more...]

Los Angeles Real Estate is it a Sellers’ Market?

Now is the Time to Sell your Los Angeles Home, Los Angeles Real Estate

You are thinking of selling a Los Angeles home and are interested in finding out if your area is a seller's or buyers' market. Regardless of whether or not you are in a sellers' market look at the comps and price your home accordingly. As a Los Angeles home seller your Realtor® will check out the comps in your area and let you know where to price your home.  No matter whether a sellers' or a buyers' market you will need to price your home at or very near the market price.  If your home is … [Read more...]

Sawtelle is an Up-and-Coming West L.A. Neighborhood

Sawtelle Blvd in West Los Angeles

I recently sold a home to a young guy on Corinth Ave.  He was excited because it was walking distance to the up-and-coming Sawtelle neighborhood in West Los Angeles, where his favorite markets and restaurants are located. A recent article in the Los Angeles Times talks about the gentification of  the area knows as "Little Osaka".   This area, along Sawtelle from Santa Monica to Olympic, has always been a draw for its Japanese restaurants, but it is now branching out to cater to a wider range … [Read more...]

Going Green to Save Some Green

Going Green in Los Angeles

By Andrew Hill @ www.NewHomeSource.com Contrary to some mistaken ideas, going green doesn’t have to be strange and uncomfortable, and it definitely doesn’t have to be expensive. In fact, many green ideas are designed to increase your comfort and to save you money. Don’t believe us? Well then consider these fun, cost-effective ways to make your home a little greener. One of the simplest and most cost effective ways of going green is to lower your water consumption. Left unchecked, faucets … [Read more...]

Take a Break From The Los Angeles Real Estate Scene And Just Admire The Beauty

How a seller sees his or her home

Sometimes you just have to stop and take a breath from the hustle and bustle of the Los Angeles real estate scene and get away from it all. I have taken a break to travel for two weeks in India and one week in Bangkok.  India, as I am sure you know, is an eye opening experience, from the extreme poverty to the extreme beauty.  And the ultimate is, of course the Taj Mahal. You can explain the feeling as you see it up close for the first time.  Unfortunately I did not do it … [Read more...]

Buying a Home in Los Angeles? Can I Change Your Mind?

Buy a Haveli in Mandawa, India

I am presently traveling in India which is an eye-opening experience to put it mildly. Extreme poverty at the one end with India's richest man building the world's first billion dollar home at the other. However, you can pick up some bargains in the middle. In Mandawa there are several abandoned properties.  Built in 1852, the  Mandawa haveli below with approximately 30 rooms,  spectacular views of the village, and wonderful murals can be grabbed up for the bargain price of around … [Read more...]

What’s Your Point?

Los Angeles mortgage, new rules

What's Your Point??  Nawwwww ... Not THAT Point! A great scene, isn't it?  But it's not those "points" I'm going to talk about in this blog.  No, I'm talking the "points" referred to when discussing mortgage costs and options.      I've had several discussions as of late, with some pretty confused borrowers regarding these "points".  They've had no real grasp of exactly what a "point" is prior to our discussion.  What it can equate to in cost to them.  How the cost of a "point" is … [Read more...]

Brentwood Area of Los Angeles Housing Market Overview | January 2012

Brentwood Community, Brentwood Homes for Sale

Let's check in and see how the Brentwood housing market did in January. Brentwood single family homes under $1 Million Sold:  2 / +2 over same period last year Median Price:  $792,500 Active 7: Absorption rate*:  3.5 months Brentwood condos under $1 Million Sold:  8 / -1 over same period last year Median Price:  $484,000 / -13.42% over same period last year Active:   47 Absorption rate*:  6.02 months Brentwood single family homes $1 to $2 Million Sold:  6 / +2 over same period … [Read more...]

5 Top Los Angeles Zip Codes

Downtown lofts and condos for sale, market report

According to Trulia's latest  Metro Movers Report the 5 top Los Angeles zip codes chosen by local Los Angelenos for living are: 91436, 90036, 90066, 90064, and 91604. Where are these desirable zip codes? 91436 covers upscale Encino which lies in the heart of the San Fernando Valley. 159 single family homes were sold over the past year Median price $934,000 49 Active listings Median price $1,000,000 Absorption rate*  - 3.82 months 90036 includes the Fairfax district and  Park La … [Read more...]

Downtown Los Angeles Condos | Market Report

5-1

Let's take a look at how Downtown Los Angeles condos fared over the past year. For the purposes of this report I have broken the price ranges down to under $500K, $500K to $1 Million, and the over $1 Million bracket. The largest movement is in the under $under 500K category. Market absorption indicates the amount of time it will take to sell the existing inventory on the market.  Six months is a balanced market; under six months a sellers' market; over six months a buyers' … [Read more...]

Selling your Los Angeles Home and Buying Another? Use the Same Agent

Los Angeles Real Estate Agent, Los Angeles Rental Properties

Los Angeles home sellers often contact me to help them find a home to buy or rent. Knowing that they are obviously already working with a Realtor® my first question is, "have you asked your current Realtor® to help you?" Today I received one of those calls from a lovely lady who said, and I kid you not, "Oh no.  He is so busy selling my home I didn't want to bother him."  Now don't get me wrong.  I am certainly more than willing to help someone  who is buying a Los Angeles home, but the … [Read more...]

Just Because you are Buying a New Los Angeles Home Doesn’t Mean you don’t Need an Inspection

Whether New or Not, Always Get a Home Inspection when Buying a Los Angeles Home

I am working with a first-time Los Angeles home buyer who is in the process of purchasing a brand new construction home.  The home is a stand-alone condominium, one of four on the lot. It would seem tempting to waive the inspection on a brand new home, because after all what could be wrong!  There are building codes to be met and one would think even a visual inspection by the builder would catch the odd mistake. The California real estate purchase contract requires that a home buyer … [Read more...]

Palms|Mar Vista Housing Market Report, November 2011

Palms Community, Palms Homes for Sale

It's time to take a look at the Palms|Mar Vista housing market.  In our local MLS the two areas are joined and splitting them would not show an accurate picture. The important figures to look at here are the number of homes sold per month and the existing inventory.  If there is more than six months' worth of inventory this designates a buyers' market, less than six months a sellers' market and around six months it balanced. Median shows the middle price range, i.e. half the homes sold … [Read more...]

Brentwood Real Estate Market Report, November 2011

Brentwood Community, Brentwood Homes for Sale

Let's see how the Brentwood real estate market is doing. There are actually two Brentwoods in California.  I of course am referring to the community in Los Angeles. I always struggle with what information to include in these reports. Average price vs. median price:  Average prices can affect what is really going on if there is one extremely high-priced sale.  So I use the median price. Average days on the market:  One house staying on the market for a long time, possibly because it is … [Read more...]