LA Digs - Northeast LA Real Estate Blog

Hello there, neighbor (or future neighbor)!

My name is Keely, and I'm a real estate agent specializing in the beautiful neighborhoods of Northeast Los Angeles. I've been living and working in this community forever - I was born and raised right here in Eagle Rock - and I couldn't be more excited to share my love and expertise for this area with you.

Let me tell you a little bit about myself. I'm an old-home lover, give me character and original details all day long! I live with my husband, son, and rescue pup in a 1959 Better Homes and Garden kit house that still has original atomic mushroom tile in the kitchen. When I’m not obsessing about houses, I’m planning my next adventure around the world or getting concert tickets. I am a second-generation Realtor and got my real estate license in 2007 (yep, right as the market tanked!) and I'm passionate about helping people find their dream home in this amazing part of Los Angeles. Whether you're a first-time homebuyer or a seasoned homeowner, I'm here to guide you through the process with humor, diligence, and expertise.

One of the things I love most about Northeast LA is its diverse and vibrant community. From the quirky shops and eateries on Colorado and York Boulevards to the stunning natural beauty of Debs Park, there's something for everyone here. And as a real estate agent who's deeply invested in this community, I'm here to help you not only find your perfect home but also discover everything that makes Northeast LA such a special place to live.

Stay tuned for more blog posts from me, where I'll share insider tips, local news, and fun stories about life in Northeast LA. Thanks for reading, and I hope to see you soon!

Just when some said real estate prices can't climb any higher, guess what? They're still climing in Northeast Los Angeles.

The numbers are in and there are no surprises. Homes in Highland Park and Hermon, Eagle Rock, South Pasadena, as well as Mt. Washington and Glassell Park homes are selling well, selling fast and selling for a lot.

Let's look at zip Codes 90041 (Eagle Rock), 90042 (Highland Park-Hermon) 90065 (Glassell Park-Mount Washington), and 91030 (South Pasadena) averages.

Note: All data is taken from , except the last column in 2018 is the percent increase from 2017 to 2018. The first column is first the year, then the average sales price for all single family homes in that zip code, the zip code with just the homes that sold for $1 million or more. AV SF is "average square feet", AV $/SF is "average price per square foot". The DOM is "days on market". LP is the "average list price" when the property went into escrow. The LP/SP is the list price/sales price ratio—a number over 100 is what percent the sales price exceeded the list price. And then #SALES is "number of sales" for that category January 1-May 31. %YOY$ is the percent increase in sales price from 2017 to 2018.

Yes, you’re right—the market has continued to climb in Northeast Los Angeles. And it has climbed even more in South Pasadena. I’m sure this will spark more discussion of “are we in a bubble?” but I have been hearing from financial and real estate insiders that we have at least until 2020 before there are any signs of a major correction. And I have also heard  “it can’t go on like this,” with several compelling reasons why not. There is a lot of gray between “bubble burst”, “flatten out” and “keep going up.”

If you keep saying the same thing about the market, it will eventually be true—because real estate and financial markets are cyclical. The difficulty is exactly “when” markets will change, not “if” they will change. It’s sort of like predicting exactly when someone will die. You can be sure that it will eventually happen, but when exactly is based on so many variables, any prediction is only a guess. Maybe it’s a very educated and well-reasoned guess, but that’s not the same as knowing. Because NELA and South Pasadena have very few developments and most of the single family homes are custom built, it’s especially difficult to make general rules about their value.

This is what I’ve seen: the homes that sell for the most money tend to be those that are in great condition, great style, great locations, and/or have great potential. Location seems to be the most important, but great and stylish updates are a close second. That means that if your house is in great shape but needs updating and it’s not the best location, you aren’t going to get top dollar. However, you might be surprised by how much you do sell for in this market. It will almost certainly be more than you ever would have made before now.

Thinking that now might be a good time for you to sell? We know some stuff about how to strategize getting you the most possible now for your home. Call us for a consultation.

If the home you sell was your primary residence two of the last 5 years, guess what? There is no tax on your capital gains!

Whether we’re talking homes for sale in Glassell Park, commercial real estate in Eagle Rock or homes in Mt. Washington, nobody can dispute that it has been a seller’s market. Northeast Los Angeles real estate market remains red hot and many property owners have cashed in.

Though surely not everyone …

I can’t tell you how many times over the last 29 years someone has told me, “I don’t want to sell because I don’t want to pay the tax if I don’t buy another property within 2 years.”

An investment in homeownership in NELA isn't just a sound investment in the good life. It's a good investment period. The numbers tell the story and they don't lie.

It's official. Owners of single family homes in Highland Park, Eagle Rock, Mt. Washington and even Glassell Park homes are asking - and getting - a million dollars or more. Let's face it: There's never been a better time to be a homeowner in Northeast Los Angeles. The numbers are in!

As of December 29, 2017 (the last day of the year that sales could be recorded by the County), zip code 90041 had 51 single family homes sell for over $1 million each, including the highest sale ever recorded here. And now in January, 2018, an even higher highest sale ever closed escrow! Yes, after 7 years of trying with various agents, the almost 3-acre historic Bekins estate at last sold to a comedian and his heiress wife for $5,250,000!

The following table shows the number of $million homes sold over the last 6 years in Eagle Rock (zipcode 90041), Highland Park (90042), Glassell Park (including Mt. Washington--90065) and for some contrast, South Pasadena (91030).

Million $ Single Family Homes

What is going on? Are we in a bubble? This is the question so many people are asking now. Respected real estate experts (and it seems like everyone else) have been asking this question since 2012. These very same experts have been absolutely certain that these price increases are unsustainable. And yet they continue. Why? Partly because we continue to experience low interest rates and low inventory. Also, Northeast Los Angeles is still cheaper than most communities to the west of us like Los Feliz, Silverlake, even Echo Park. We are considered the closest “decent” neighborhoods to downtown according to many buyers. Others are beginning to look at other neighborhoods like El Sereno and Lincoln Heights who are seeing prices go up accordingly.

Let’s face it, prices go up and some people can no longer afford to buy where they want to. This is not a new story, but it’s painful if it’s your story.