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Highland Park - LA Digs - Northeast LA Real Estate Blog

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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.


The bottom line is we have been facing a big affordability issue here in our little corner of the Los Angeles real estate market. And it has gone viral state-wide. The average change in California’s year-over-year number of sales has decreased 5.5%. And the average sales price has increased 5.5%. Statewide!

Many of you readers might be muttering “I don’t really care about state-wide, I want to know about here, in good old NELA!" (That’s zip codes 90041, 90042, 90065.)

So here you go, Dear Reader: These are year-over-year, September to September 2017 to 2018 percentages for NELA and they are startling. Number of active listings is a whopping 56.7% more in 2018, while the number of sold is down 13.6% and the number pending is down 5%. Here is the interesting news—the average asking price is 10.2% higher in 2018 and the average sales price is 18.5% higher. So fewer homes are selling, but they sell for more.

What does this mean to you? It seems like this is an affordability issue, but with a special twist. Especially with the uptick in mortgage interest rates on top of still rising prices, who can afford to pay an average sales price of $972,000? And in Eagle Rock alone (90041 zip code) the average sales price was $1,133,000 in September 2018! Average! So what’s the twist? The prices are continuing to rise, that’s what. Ordinarily, too-high prices start coming down when the inventory increases and number of sales drop.

It seems like many Buyers (or think they wanna be buyers) want to just have a crash take us back to 2009 bottom of the Great Recession prices and stay there long enough for them to close escrow on their dream home at a bargain price 40-to-60% below today’s prices. And then spring back to today’s crazy high prices so they can feel like they got the deal they missed back in 2009-2012. But their dream homes wouldn't come on the market in such a case because their owners aren't going to lose all the equity they’ve gained in the last few years. Why not? Because they are not in distress! Homeowners will just sit tight and wait it out because they don’t have crazy loans that are going to adjust to an impossible payment like they did in 2008. And those homes that sold in 2009 were not your dream homes either. People who own dream homes don’t generally have to put them on the market at the bottom of a sales cycle. No one does that unless they have no other alternative.

So what about the increasing inventory? A lot of homeowners are still trying to cash in on the high prices and they are comparing their homes with cream of the crop “done” homes or super well-located homes with a lot of potential. But times have changed, folks—you can’t put a cluttered, dirty home on the market with a few bad cell phone photographs and expect to sell for a top price. You should expect to put in a lot of effort and possibly money to present your home in its best light, hire the best experienced Realtor you can find and do what they say. This thought that all Realtors are alike and do the same thing so you just need to hire the cheapest one and he will sell your house for a lot of money is as mistaken as thinking the diamond earrings you buy at the big box discount store are just like the ones you could buy at Tiffany’s for five times as much. Anyway, those sellers are the ones driving up the inventory numbers and when they expire, the numbers will go back down and only a few buyers will have the money to buy the good homes that are left. We just put two properties into escrow for over $200,000 above their list prices because they are special, well-prepared and well-marketed homes.

It’s not a logical situation, potential buyers aren’t squeezed out of this market because interest rates have ticked up, they are squeezed out by not being able buy the home of their choice at the price they can or want to pay and they can’t or won’t find an acceptable alternative. The only houses that sell quickly in a changing market like this one are super great prepared homes or super well-priced ones, just like always.

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November Home Sales: Highland Park 90042

November Home Sales Highland Park 90042

November Home Sales Highland Park 90042


Here are all the single family home sales in Highland Park 90042 from this November.  The high sales price was $630,000 (compared to $680,000 in October), the low sales price was $210,000 (up from $175,000 in October), and there was a median sales price of $360,000 (down from $405,000 in October).

Also check out the November home sales for Eagle Rock and Glassell Park/Mount Washington.

You can see what Highland Park homes sold in October here.

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Just Sold! 1051 Dexter Street, Highland Park

1051 Dexter StreetJust sold! 1051 Dexter Street is a short sale (they can be done!) that we brought on the market back in January, and finally closed escrow on May 27! The list price was $349,000 and we closed at $371,000.

1051 Dexter Street Living RoomThis is a house that has a lot of potential - built in 1921, it definitely needed some updating and cosmetic work, but the sellers had done some major upgrades, including foundation, front retaining wall, chimney and fireplace replaced and rebuilt in 2007, rewired electrical with upgraded circuits, and new floor tile in the kitchen and bath.

1051 Dexter Street View

The best part of this house (in my opinion) was the terraced yard, with fantastic mountain views.

Additional Details:
2 bedrooms, 1 bath
864 SF on a 6,400 SF Lot
Bonus room above the one-car garage

If you would like additional information on how a short sale works and what is involved, give me a call at 323.243.1234. I am a Certified Distressed Property Expert (CDPE) and can you walk you through the process!

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This is the best business model for this economy!

For the People by the People
For the People by the People

Orecul77 is a new shop in Highland Park that offers several ways to be green by recycling, reusing, and especially reimagining the clothing that we already have. Tawny Lucero's unusual boutique is now open and ready for business. In every aspect of buy local, this is a great place. Tawny is local, she deals with local craftspeople, and her shop is close to everything on the York Blvd you also love like The York Pub, Johnny's and Marty's.

Still love that gray sweater but you spilled wine on it and can't get the stain out? Tawny will figure out a way to cover it up stylishly. Still love those jeans but they are so threadbare they are about to reveal way too much? She can help you re-engineer your own clothes, or you can buy something off the rack that she has created out of other clothes. What a unique idea!

You can donate old clothes and what she doesn't use she'll take to a homeless shelter. You can also shop for other cool items that are for sale on consignment, made by local artisans. There are bags, jewelry, craft items galore. Tawny also plans to have a story telling night on January 22 starting at 7 pm. It sounds unusual, but with some "bring your own" snacks and wine, who knows what creative tales may unwind?

Check it out at Orecul77, 5159 York Blvd, Highland Park 90042. Call her at 323-254-2600 for hours and more info.

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Why you should buy a house in Highland Park, Los Angeles, 90042

Here are the bullet points:

    • There are 131 listings today, December 4, in zip code 90042, and 98 of them are asking less than $499,000.
    • Highland Park has a long and honorable history in the development of Los Angeles.
    • Highland Park has the first and largest HPOZ in Los Angeles with many contributing structures that could qualify for Mills Act Property Tax Relief and also help to ensure that your neighborhood doesn'tend up being ruined by unbridled development.
    • There is a vibrant, unique, growing artistic element that adds style and character to the town.
    • There are lots of shops, galleries, restaurants and bars within easy access.

1. As in many somewhat economically lower end neighborhoods, HP was hit hard by the recent downturn and experienced probably three times as many shortsales and foreclosures than its neighbor, Eagle Rock, which today has 56 total listings with 23 less than $500k. So you can now find decent 2-3 bedroom, 1-2 bath homes in decent neighborhoods for anywhere from $300,000 to $450,000. Many need work and therein lies even more opportunity. Read about FHA loan opportunities in a soon-to-be published blog of mine and come shopping with me!

2. Highland Park, one of the oldest suburbs in Los Angeles, began as a lushly verdant area studded with sycamores and oaks that attracted artists, writers, and academics. Large Victorian, then Arts and Crafts-style homes lined the main thoroughfares and hillsides. Several universities began in Highland Park including the Los Angeles College of Fine Arts and Architecture, USC, what is now Azusa Pacific University, Whittier, Loyola Marymount, and Occidental College.

Known as a very highly rated liberal arts college, formerly attended by President-elect Obama, Occidental is still located in Eagle Rock, its third location in Northeast Los Angeles. Check out http://www.nelanet.org/reportsmaps/hphistory/ for a detailed history of Highland Park.
3.The decline of the area happened gradually when the early movie industry moved more towards Hollywood, businesses moved to the mid-Wilshire area, the middle class moved out to the suburbs, and the immigrant population came in as the real estate prices fell. A sad period ensued where grand old homes were destroyed, cut up into apartments, their wood siding was stuccoed and windows were barred. A preservation movement began in the early 80s, which resulted in the first HPOZ (Historic Preservation Overlay Zone) in Los Angeles being established in Highland Park. The Highland Park Heritage Trust has done great work to preserve the heritage of Victorian and Arts & Crafts era homes that remain. One advantage to HPOZ homes is that qualifying for Mills Act Property Tax Relief is much easier. I've sold several homes which have benefitted from this which has saved the owners up to half their original property tax bill.

4. A number of artists, writers and academics remained in Highland Park and are increasing in number as higher prices have driven them out of Echo Park, Silverlake and Los Feliz. The Arroyo Arts Collective just had its 16th tour, featuring about 100 artists in studios and homes all over Northeast Los Angeles, but concentrated mostly in Highland Park. Many of these artists have lived in the area for decades, through all the changes, the economies going up and down, the concrete going in, the bars and fences going up. There is also an upward looking commercial environment including restaurants, bars, art studios, and a variety of all the regular businesses that serve a community. Also, NELAart sponsors the Second Saturday Gallery Night where you can wander through the various galleries and see what's happening or join the Bike Tour sponsored by BikeOven and "go green."

5. Check out Folliero's, a neighborhood Italian restaurant since 1968, serving great pizza with thin crust still made by the founder, Tony Folliero. His daughter, Titina, now runs the place and you will love the staff, the food, and the convenient location at 5566 Figueroa St. Another great restaurant just across the street is the more recently established Cinnamon Vegetarianat 5511 Figueroa. Hipsters priced out of Hollywood are edging into a growing club scene that includes hangouts like The Little Caveand Mr. T's on Figueroa. A York Blvd scene near Avenue 51 is growing with The York PubJohnny's, and Marty's Bar (with valet parking, no less) all within a block of each other. You can check all these out on my Restaurant Guide, which you can have emailed or mailed to you for free if you contact me and ask for it.

One of my favorite discoveries is the Future Studio, which is the home of "Chicken Boy," a great icon of the offbeat artistic vibe of Northeast Los Angeles. Art Fein nicknamed Chicken Boy the Statue of Liberty of Los Angeles. A 22 ft high statue of a man with the head of a chicken, Chicken Boy once stood above the Chicken Boy Restaurant in downtown Los Angeles. Constructed in 1969, saved from destruction in 1984, Future Studio acquired the fiberglass statue and began searching for a home for it. Several museums turned down the opportunity to house Chicken Boy in their sculpture gardens. Finally, in 2007, Future Studio installed the statue at 5558 N. Figueroa St. You can see the statue anytime since it's outside on the roof, but the Studio is open by appointment (323-254-4565 or This email address is being protected from spambots. You need JavaScript enabled to view it.and on NELAArt.com's Second Saturday Art Walks. There is a room devoted to Chicken Boy including many actual items with Chicken Boy on them, and the profits go to the upkeep and preservation of Chicken Boy himself. For more info go to chickenboy.com. This Saturday, December 6, Future Studio has its Christmas sale from noon to 6 pm.

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