Take the quiz: Where in LA should you live?

Thinking about buying a home in Los Angeles, but not sure which neighborhood to focus on? First off, you should definitely call us at Urban Hillsides - we have the expertise to find you the perfect home in the perfect neighborhood. But just for fun, try Buzzfeed's latest quiz: Where in Los Angeles should you live? You'll answer a couple of questions like your favorite drink (craft beer or a Manhattan?), and your preferred home architectural style (like a loft, mansion or perhaps a Craftsman?). Click here to give it a whirl, and share your results in our comments below!

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This week: Steady as she goes!

Week over week, new listings and pending/back up are down, and thus total inventory is down. No major changes as we move into February - steady as she goes! But stay tuned - things might change after Super Bowl weekend. January 27, 2014

• New listings: 39-
• Back on Market: 7+
• Price Reductions: 10-
• Pending/Back up: 25-
• Sold: 21+
• Total inventory available: 207-

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Weekly market report: The holidays are here!

Fewer properties are going into escrow as we approach Christmas and the New Year. New listings dropped to 22 from the previous 46, with back on market, price reductions, and pending/back ups trailing slightly lower. Solds and available inventory remained steady at 39 solds and 242 available. December 16, 2013

• New listings: 22
• Back on Market: 7
• Price Reductions: 10
• Pending/ Back up: 31
• Sold: 39
• Total available inventory: 242

See the stats from previous December dates after the jump.

December 9, 2013

• New listings: 46
• Back on Market: 12
• Price Reductions: 12
• Pending/ Back up: 38
• Sold: 38
• Total available inventory: 244

Click on the map below to search active listings in Northeast Los Angeles:

NortheastLosAngeles

Looking to buy or sell? As a 30+ year resident of Echo Park, I know the area! Contact me today!

Areas in Northeast Los Angeles/the Urban Hillsides I serve include: Atwater Village, Echo Park, Eagle Rock, Glassell Park, Highland Park, Lincoln Heights, Los Feliz, Mt. Washington, Silver Lake, and Montecito Heights.

Market outlook in the Urban Hillsides communities

The seven day real estate market outlook for Northeast Los Angeles shows 11 fewer listings since last week, and a total of nine fewer pending properties. These a pretty normal trends as we approach the holiday season. Here are the numbers: November 5, 2013

• New listings: 32
• Back on Market: 19
• Price Reductions: 20
• Pending/ Back up: 46
• Sold: 43
• Total available inventory: 268

October 29, 2013

• New listings: 43
• Back on Market: 18
• Price Reductions: 21
• Pending/ Back up: 55
• Sold: 44
• Total available inventory: 267

Click on the map below to search active listings in Northeast Los Angeles:

NortheastLosAngeles

Looking to buy or sell? As a 30+ year resident of Echo Park, I know the area! Contact me today!

Areas in Northeast Los Angeles/the Urban Hillsides I serve include: Atwater Village, Echo Park, Eagle Rock, Glassell Park, Highland Park, Lincoln Heights, Los Feliz, Mt. Washington, Silver Lake, and Montecito Heights.

Foreclosure inventory will remain low in 2013

Foreclosure Inventory via Wall Street Journal

With gains in housing prices the past year also comes an increase in home equity – very good news for current homeowners. But while those shopping for good deals (especially first-time home buyers and move-up buyers) are getting incredibly low interest rates, foreclosures and other REO inventory is shrinking drastically.

According to CoreLogic, foreclosure inventory is down 20% in November from a year ago. REOs fell from 19.6% to 11.5% between January and November 2012. This drop is due to a lower number of delinquencies and a more laborious foreclosure process that resulted from the original housing crisis issues.

Along with fewer foreclosures and REOs comes major competition to purchase deals by investors, first-time homebuyers, and the move-up buyers, hence the rise in prices. Economists are predicting that 2013 will see further declines in both REO and foreclosure inventory, but won’t be as steep a decline as we saw in 2012.

Open House Sunday: Newly remodeled Silver Lake Spanish

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We've got a must-see listing in Silver Lake that's newly remodeled/move-in ready. Built in 1924, the Spanish-style house has 2 bedrooms, 2.5 bathrooms, a garage, loft/office area, and new landscaping. Click here for the photo gallery and listing information, or see it for yourself - join us for our open house on Sunday, June 3 from 1-4:00 pm.

Urban Hillsides / Northeast LA Market review for April and May

Single Family: April / May

• Properties sold: 87  /  97
• Average days on market: 71  /  81
• Median price: $400,000  /  $435,000
• Average cost per square foot: $326  /  $299
• Average selling price to listing price: 98%  / 98%

Residential Income (2-4 units): April / May

• Properties sold: 28  /  21
• Median price: $450,000  /  $391,000

Condo: April / May

• Properties sold: 10  /  10
• Median Price: $241,550  /  $234,000

Source: The MLS