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LA Digs - Northeast LA Real Estate Blog

Welcome to LA Digs, the real estate and Northeast Los Angeles community blog written by Realtors Tracy King and Keely Myres.

Here, we share tips, market updates, and local news bits to keep you informed on what's happening in Northeast Los Angeles and the surrounding neighborhoods. Read on to learn about the latest in your neighborhood!

NELA Real Estate Market: An Affordable Issue with a Special Twist

NELA Real Estate Market: An Affordable Issue with a Special Twist

What we're seeing in the Eagle Rock, Highland Park and Mt. Washington housing market is happening all  around the state.

Interesting things are afoot in the Northeast LA real estate market. Anyone keeping their eye on prices of homes in Glassell Park and Mt. Washington have noticed that prices up from where they were just a year ago. Those watching homes in Highland Park and Eagle Rock are noticing homes staying on the market longer. What does it all mean?

Good question! Here’s the latest news from the top. Leslie Appleton-Young is California Realtors’ Chief Economist and we are lucky to have her help us make sense of a very big subject: the real estate market.

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Improving Our Eagle Rock Community ... One Small Step at a Time

Improving Our Eagle Rock Community ... One Small Step at a Time

The community of Eagle Rock is a special one. Let's do all we can to keep it that way!

Believe it or not, I spend more time thinking about my home community of Eagle Rock than I do about Eagle Rock real estate. Homes for sale in Glassell Park occupy my thoughts less than my appreciation of the community itself. Keeping a clean, safe community, after all, is what makes a neighborhood great.

I’ve noticed that in the midst of the chaos of modern day life, it's easy to find one’s self grappling with issues such as what is my purpose? Why am I here? What can I do to make the world better? These questions can be overwhelming, even paralyzing.

Remembering the “broken window” theory made famous by former New York City police chief, Bill Bratton, I decided to stop being overwhelmed and took a single step towards improving my community—I started picking up litter. It isn’t easy to believe that this one small step can actually can make the world a better place, but this is a task that almost anyone can perform and immediately see a positive difference in one’s surroundings.

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Looking to Buy a Home in Eagle Rock? Now Is a Good Time!

Looking to Buy a Home in Eagle Rock? Now Is a Good Time!

Whether for homebuyers or investors, getting a great deal on a home in Eagle Rock is all about good timing.

The Northeast Los Angeles region's real estate market is always in flux. Many potential homebuyers are waiting by the sidelines for the perfect time to buy homes in Eagle Rock or invest in Highland Park real estate. The question for them is, "when is the perfect time?". The answer: Now.

So far this year, the Eagle Rock market has been almost as low in active listing inventory as it was in 2013, when the market caught on fire in the face of withering inventory and rapidly increasing prices. That means that there were usually fewer than 20 homes for sale then and now.

Suddenly, we have 26 homes for sale, and 7 of them are listed for over $1 million! Hold on to your hats—one is even listed for over $2 million!

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Highland Park and Eagle Rock in Top 5 Hottest Neighborhoods!

Redfin, a popular home search engine, recently surveyed which neighborhoods or cities will be the most up-and-coming in 2013. To come up with the top neighborhoods in each market, they evaluated how each market was trending at the end of 2012 in four categories: on-market listings, sales volume, median price per square foot, and list price to sales price ratio. The areas with the most consistent trends in each category were labeled the “hottest in 2013.”

Well, what do you know? Highland Park, CA and Eagle Rock, CA are in the top 5 hottest neighborhoods, with Glassell Park, CA not too far behind! Of course WE know these are fantastic neighborhoods, but it’s always great to see recognition on a wider level. With great schools, or schools rapidly improving, lots of new businesses moving in and re-energizing the area, and convenient commutes, our neighborhoods are providing great communities for new buyers to settle down in.

Why did three of Northeast LA’s great ‘hoods get picked? According to Redfin, “The hottest neighborhoods are all seeing shrinking selection, increasing sales, and increasing prices—often at rates far above the metro areas that contain them.

Year-over-year trend in listings, sales, and median price per square foot as of December 2012

In our own experience, we are seeing multiple offers on most of our listings, often within a few days of bringing a home on the market. Most recently, our listing at 217 Newland Street in Highland Park received 13 offers within 6 days of being on the Multiple Listing Service, going into escrow with a sales price much higher than the list price of $299,000.

What’s causing this flurry of activity? Incredibly low inventory (Highland Park has been averaging 38 single family homes for sale, compared with 85 at the beginning of 2012), interest rates continuing to be at record lows, and an incredible amount of well-qualified buyers in the marketplace.

If you have been thinking of making a move, this is the best time in the Northeast Los Angeles real estate market last five years. We have seen sellers be pleasantly surprised at what their homes are selling for.

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Want to Buy an Eagle Rock Restaurant?

Ever wanted to own your very own restaurant in Eagle Rock? Well, now's your chance!

Vegetarian restaurant Fatty's is up for sale for $2.4 million, which includes the business (with beer and wine license), the 3,000 sq. ft. restaurant space plus a 2,000 sq. ft. art studio. The building is located on a 6,229 sq. ft. lot in a prime Eagle Rock location, and has two dedicated parking places and plenty of street parking. There is also a patio and garden area in the back.


Interested? Give us a call at 323.243.1234.

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