LA Digs - Northeast LA Real Estate Blog

Every now and then, someone asks me to discuss what their home is worth as “price per square foot.” Fine, then. Here is my reasoning on why determining value by price per square foot is a myth.

Looking at value in terms of price per square foot is an attempt to make value an easily quantified number that is real. Example: the average price per square foot for sales of homes in the 90041 zip code over the last 3 months is: $504. Therefore, the home at 2014 Estes Road is 1735 square feet and the value calculates out to be $874,440.  

Great. Is that a real value? Should I list my home for, say, $869,000? Maybe, maybe not. Is it really “worth” that? I have a 14,000 square foot lot. Should I add in some value for that?  Or for my central air and heat? Or my view?

Here is your chance to create your very own special retreat—a lovely 1941 ranch style home in Eagle Rock with lots of original detail and some desirable upgrades. 

The third bedroom/den has a closet and is lined with paneling to continue life as an office/guest room if you like, or...?

The kitchen has been expanded into the former utility room to allow for a dishwasher and more counter space and the laundry is now in the garage below.

Charming 1927 Craftsman bungalow now available for LEASE, we have a home in Eagle Rock!

The hardwood floors, an Arts & Crafts tile fireplace, lots of original windows, built-in cabinets in the formal dining room all add up to character, style, and a simpler time. 

The kitchen has new countertop and cabinets, stainless steel appliances, and space for a breakfast nook. 

The tidy back yard is accessed from a deck off the kitchen with sunset views, and there is lawn and a space for gardening.

So close to hip York Blvd, yet tucked away from the bustle of the edgy vibe of Highland Park.  This bungalow is one of the charminghomes in Highland Park ready for a new owner to make their own.

Imagine a life where you've worked in your studio/office all morning and take a lunch break--stroll the 20 steps to your kitchen and set out the meal on your table on the back patio.

Wander out front and listen to the birds sing as they splash in the birdbath and flit among the herbs and wild flowers in the yard.

The dream:

to own a home in Eagle Rock, sipping drinks on the deck with friends and family, watching the sun set behind the hills at the far edge of Eagle Rock and the tall buildings in downtown Glendale.

The fun continues on the huge patio below big enough for a quick basketball game and/or major alfresco bbq party—or maybe you’d rather play some soccer on the grassy lawn—

Today I want to share a story from Scott Groves with Movement Mortgage, a lender we work with frequently.  One of the big questions we get from buyers when they start their home search is "Who has the best rates?" And the truth is - picking a lender is a lot like picking a real estate agent.  Rates will change, however choosing someone you trust that can kind you through the (very complicated) process is something that will make a big impact in your home buying experience.

From Scott:
"I have to admit that I fell for it.  As a home-owner, even though I work in the industry, I am NOT immune to good advertising.  This week I was enticed by a radio ad promising the rock-bottom / lowest-rates available in all the land at NO fees.  I was borderline offended that Movement Mortgage didn't have the best rate in town and I checked out the website of one of my competitors. 

Here is what I found about the 30 year fixed rate at 3.625% the radio ad had promised:

Yearning to live in a simpler, more gracious time but still want a great floor plan, a master bedroom retreat and great neighborhood?  Have it all in this 1905 Craftsman home, new to the South Pasadena real estate market.

Step back in time with hardwood floors, wainscoting, built-in buffet, period-style fixtures. 

The floor plan flows and has become what today's homeowner dreams of: an open kitchen/dining area, a family room with original fireplace, a formal dining room with fireplace, a cozy living room that welcomes your friends coming in from the wide front porch.

The love affair with this Eagle Rock home for sale begins as you step through the wooden gate into the front garden and walk across the wide front porch into the living room.

While modernized for today's homeowner, the character of this Craftsman home has been both preserved and enhanced with new hardwood floors, dual pane windows installed inside the original window frames, a spiral wooden staircase up to the bedrooms on the second floor.

Further upgrades to the systems include copper plumbing, updated electrical, newer sewer line to the street, central heat & air and a bolted foundation.

Rare opportunity to own your own church! 

It's not every day you see a property like this come on the Garvanza real estate market.

Complete with two large and beautiful stained glass windows, high vaulted ceilings in a huge open space, and a kitchen in the large basement.

Homes in Pasadena are considered very desireable, and this 4 bedroom, 2 bath home is no exception.

Located in Garfield Heights Neighborhood Association area, known as the crown jewel of Northwest Pasadena, this graceful Craftsman home was restored and beautifully remodeled by a master cabinetmaker just before it was purchased by the current owners.

The wide front porch invites you to stop by and visit. 

In a recent Sunday Los Angeles Times, the discussion regarding the Zillow Zestimate of home values continued, as it does on Facebook and in almost every conversation that includes the question "What is my home worth?"

I love Zillow, because it embodies the essential truth of home valuation--no one really knows what a home is worth. What does Zillow know about your home? It knows the public record of its square footage, bedroom and bath count, and where it is on a map. That's about it. It doesn't know that you legally added 1500 square feet of exquisitely appointed master bedroom suite including spa bathroom and vast walk-in closet that somehow hasn't shown up on the tax records yet. It doesn't know that the house down the street that sold for $200,000 less than you think yours should was a tear-down. 

This is a great opportunity to make a piece of Eagle Rock real estate your own - this could be your own mini-lodge in the heart of the neighborhood!

Behind the 1936 Spanish facade, find a cozy updated cabin with all the modern conveniences-central air and heat, Jenn-air range, dishwasher, white granite counters, updated bath, and special space-saving features that make life in a small space special and fun.

There are built-in bookcases on either side of the wood-burning fireplace, lots of closets, a fold-up butcher block leaf to add counter space in the kitchen, a basement for the laundry and more storage shelves, plus a spacious 1.5 car garage.

All you self-employed, small business ownrs, entreprenuers, and nontraditional career works - take heart! Privlo, a new mortgage startup, just launched in California last week and they cater specifically to small business owners, entrepreneurs, Millennials with nontraditional career paths, or seasonal workers with spiky incomes - namely people with complex incomes that can't be proven on a tax return or W2, and are increasingly turned away by their banks even though they may be creditworthy.

It's an option that self employed homebuyers haven't truly had until now, as Privlo takes into account a far wider range of alternative documentation and credit criteria than a traditional lender. Here's their press release along with more info.

Some people are very excited about selling their homes "off-market" these days. They say it can save time and hassle and not invade one's privacy as much a regular marketing plan.

Some Realtors would even have you believe that you can make more money this way, that people will be so excited about buying a house without all the competition that they will pay you top dollar.

My question to these people is, How do you know what top dollar is without exposing it to the market? We recently had an Echo Park home for sale that ended up going just over 20% above the asking price of $799,000.

In 1922, the Eagle Rock City Hall opened and this charming Craftsman home was built on the prestigious Royal Drive, named for the royal palms that lined the street.

Life is still beautiful in this neighborhood, still with neighbors who look out for each other, still tree-shaded sidewalks perfect for the families with strollers and dogs who wave hello as they pass by.

This is a great opportunity to make a piece of Eagle Rock real estate your own! 

Life is simple, gracious and energy efficient in this spacious 2-year old single family home in a small lot development built by the nationally respected Pulte Homes.

Located in the Blue Ribbon Distinguished Eagle Rock Elementary School area, you are close to school, restaurants, shops and all your friends who have found that the secret to a happy life is living in the heart of Eagle Rock.

For those interested in Eagle Rock real estate, this is a great opportunity and the timing is right.

Tucked away on a quiet cul-de-sac, this ranch-style home offers a retreat from the city in a prime neighborhood where homes in Eagle Rock are sought after and coveted by buyers.

Have the whole family over and the kids can hang out in the family room while the adults linger over coffee in the huge living/dining room.

Live the California dream as you barbecue on the patio off the family room and cheer on the raucous croquet game on the lawn in the side yard.

Homes in Echo Park have become a hot commodity for a good reason. Roll on down to Chango for a bite. Or to Fix Cafe for a cup of coffee. Or Valerie's for some tea and something sweet.

Or stay home and invite your friends to dine al fresco on your deck with the view of downtown sparkling in the setting sun.

Are you tired of the rest of the world and you just want to retreat to your own private world that no one can see but you? Go on down to the Zen garden off the master bedroom suite.

Mid-Century lovers, hurry on over to this original post & bean Modern built by the Sylvis Constuction company in 1959.

Even the kitchen and bathroom lino is original.

Even the tile on the kitchen backsplash and bathroom counters and shower/bath surroundings is original.

Even when there are many Eagle Rock homes for sale, few are kept in this original, awesome condition!

Interested in a prime but affordable piece of Glendale real estate? This lovely 1945 ranch-style home is in the popular Sagamore Park neighborhood right in between Glendale and Eagle Rock.

Ready for you to move right in, there are hardwood floors, a wood-burning fireplace, updated kitchen and baths, a formal dining and three charming bedrooms.

An efficient kitchen plan has granite counters and room for a small table & chairs.