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.

Market outlook in the Urban Hillsides communities

The seven day real estate market outlook for Northeast Los Angeles shows some new listings going on the market, but about just as many sold properties:

• New listings: 43
• Back on market: 18
• Price reductions: 21
• Pending / Back up status: 55
• Sold properties: 44
• Active 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.

Market outlook in the Urban Hillsides communities

Last week, there were 53 new listings and 36 price reductions in the Northeast Los Angeles area, including Atwater Village, Echo Park, Eagle Rock, Glassell Park, Highland Park, Lincoln Heights, Los Feliz, Mt. Washington, Silver Lake, and Montecito Heights.  

Featured Property:

Situated south of Sunset Boulevard in Silver Lake, the 2,500 square foot new home has an asking price of $1,150,000. It did have a price change up by $51,000 recently.

featured-listing-10-22

Neighborhood cleanups & community picnic at Echo Park Lake

Councilmember Mitch O'Farrell of the 13th District (which includes part or all of the neighborhoods of Echo Park, Silver Lake, Los Feliz, Atwater Village, Elysian Valley and more) is celebrating the first 100 days in office with district-wide cleanup events followed by a community picnic at Echo Park Lake.

Community cleanups go from 8:00 am - 11:00 am and include Elysian Valley (meet at 2466 Riverside Drive) and the Silver Lake Dog Park (1850 West Silver Lake Drive).

The FREE Community BBQ takes place at Echo Park Lake at the northeast side of park, along Park Avenue, from 11:00 am - 1:00 pm.

Interested in volunteering for the cleanup? Contact Sylvan de la Cruz at (323) 957-4500 or sylvan.delacruz@lacity.org

Or just click here to RSVP!

Silver Lake named a "best big-city neighborhood"

This fall, CNN named our little Los Angeles neighborhood of Silver Lake one of the best big-city neighborhoods in the country.

The cost of living in Silver Lake? Home values are at a median value of $632,000, while median household income is $62,800 and an average two-bedroom rental price is $2,100. But the perks are more about getting out in the neighborhood, whether it be jogging around the Silver Lake Reservoir, the diversity of the community, and walking the dog and/or stroller along the popular Sunset Junction.

The only negative? Home buying can be extremely competitive.

CNN looked at data from neighborhoodscout.com along with city visits and talks with locals. Silver Lake joins neighborhoods like Park Slope in New York City and Pacific Beach in San Diego.

Foreclosure starts down in California, REOs up

California is among the states that saw a drop in foreclosure starts in the July-September quarter of 2013. Nationwide, foreclosures are at a seven year low, declining 13% from the previous quarter and 39% from a year ago – and down a total of 59% in California.

The drop in foreclosure stats is believed to be due to a gradually improving housing market, rising home prices, improving employment numbers, and fewer troubled loans. There was a slight increase in completed foreclosures from Q2 to Q3, rising 7% but down 24% from the same time last year. In California, REOs increased 19% in Q3 – but not bad compared to New York’s 65% increase.

At the peak in 2010, there were roughly 1.05 million foreclosures, and the numbers have been declining ever since.