Rents are expected to rise by more than 8% in Los Angeles County by 2016.
Atwater Village town hall inviting views on potential pocket park
The Atwater Village Neighborhood Council is hosting a town hall on Thursday, January 23 (more info below) to discuss ideas on streetscaping Glendale Boulevard. The Council is considering creating a pocket park somewhere along the main drag, replacing some parking spaces for a plaza-like environment for pedestrians. If you're familiar with Silver Lake's Sunset Triangle Plaza (aka "Polka Dot Plaza") on Sunset Boulevard at Edgecliff, this is essentially the same idea - creating a pedestrian-friendly "green" space.
The location has not yet been determined, but the Council has been discussing the possibility of the intersection of Glendale and Brunswick Avenue by Kopper Keg.
The focus of the town hall will include hearing neighborhood thoughts on the project: Should it happen? What should it look like?
For questions, email torin@atwatervillage.org.
atwater-village-town-hall-1-23-14
Weekend calendar: Featured open houses in Northeast Los Angeles
This weekend is full of some great open houses in Northeast Los Angeles - and the neighborhoods of Echo Park, Los Feliz and Highland Park are especially buzzing with activity. Check out these great open houses on Sunday, January 19 from 1-4:00 pm.
Want a private showing? Call (323) 300-1186 today!
Los Feliz
4153 Cromwell Avenue | 3 BR, 4 BA, 2,784 sq ft | $2,229,000
Listing agent: Richard Wilkinson
Want a private showing? Call (323) 300-1186 today!
Weekly numbers show a healthy market
There are two significant observations this week, primarily with new listings and price reductions. New listings are up 23 from the previous week, the highest since December 9, 2013. Price reductions were also up significantly to 17, last reaching this number November 21, 2013. This shows a strong market with indications of perhaps a plateau with the larger number of price reductions.
Couple these indicators with the surprise of lower mortgage rates and we have a positive, healthy market.
January 13, 2014
- New listings: 40+
- Back on Market: 7-
- Price Reductions: 17+
- Pending/Back up: 27+
- Sold: 27+
- Total available inventory: 196+
LosAngeles-Real-Estate-report_1-13-14
Want to see how these compare? View our past weekly real estate market reports!
Leading economists have differing views on recovery
Leading economists agreed at the recent American Economic Association meeting that economic output has fallen short of its potential. Additionally, the 2009 fiscal stimulus was not aggressive enough to spur the recovery, however policy will lead to faster growth.
What economists didn't agree on was how to improve the economy. Stanford economist John Taylor argued that government needs to go back to the "rules-based" fiscal policies which historically have shown careful growth - NOT the unusual policy steps of quantitative easing (the bond buying stimulus program, and the bailout of financial institutions), which he believes are not sound for recovery.
On the other hand, Harvard's Larry Summers worked in the turbulent Obama years of QE and the bailout; his solution was to go beyond the historic norms of fiscal policy and treat the economy as a patient, gauging and monitoring the condition to respond appropriately.
Who holds the keys to 2014's economy? All eyes are on nearly-appointed Federal Reserve Chairman Janet Yellen, who is a believer and practitioner of a rules-based monetary policy. Overall, 2014 looks to be one of the strongest years in the recent past with consumer spending up as housing and stock markets have risen.
Weekly market report for Northeast Los Angeles
The market has awakened slightly from it's holiday slumber! We are seeing slight increases in new listings, houses that are back on market, price reductions, and solds. Total inventory and pending/backups remained steady. January 6, 2013
- New listings: 23
- Back on Market: 9
- Price Reductions: 7
- Pending/Back up: 21
- Sold: 27
- Total available inventory: 189
LosAngeles-Real-Estate-report_1-6-14b
See the December stats after the jump .
December 30, 2013
- New listings: 15
- Back on Market: 5
- Price Reductions: 5
- Pending/Back up: 22
- Sold: 18
- Total available inventory: 193
December 23, 2013
- New listings: 21
- Back on Market: 6
- Price Reductions: 15
- Pending/Back up: 40
- Sold: 37
- Total available inventory: 228
December 16, 2013
- New listings: 22
- Back on Market: 7
- Price Reductions: 10
- Pending/ Back up: 31
- Sold: 39
- Total available inventory: 242
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.
Weekly market report for Northeast Los Angeles
In our final full week of 2013, the market is appearing steady despite slight market resistance due to price reductions. A healthier economy is keeping the real estate market strong; we see an increase in pending and backup sales. December 23, 2013
- New listings: 21
- Back on Market: 6
- Price Reductions: 15
- Pending/Back up: 40
- Sold: 37
- Total available inventory: 228
Happy Holidays!
Holiday-Email-header
See the stats from previous December dates after the jump.
December 16, 2013
- New listings: 22
- Back on Market: 7
- Price Reductions: 10
- Pending/ Back up: 31
- Sold: 39
- Total available inventory: 242
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.