News and Opinion — Urban Hillsides Real Estate

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Would you buy income property you could never see?

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How far are you willing to go to sell your property? How far are buyers willing to go?

One Mount Washington property is testing those limits. In the private remarks, the instructions for viewing this for-sale property call out a few things, from the not-so-unusual "drive-by only," to the "do not disturb occupants." But here's the kicker: you can't even stop your car. If you disturb the occupants, you "do so at your own risk."

The property is also a cash-only sale, and since it is being sold as-is there are no inspections and contingencies. No photos and site unseen, would you buy?

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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where-in-LA-Echo-Park

The hot neighborhoods of Northeast Los Angeles

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Northeast Los Angeles real estate is buzzing. Most recently, Eagle Rock was named one of the “Hottest Neighborhoods of 2014” - its median home price of $539,000 making it very desirable. Last year, Both Highland Park and Glassell Park joined Eagle Rock as one of ten Huffington Post's Top Hottest Neighborhoods for 2013, with home sales going up year-over-year 31% and 17% respectively.

In Glassell Park, the median sold price for the neighborhood at the end of 2013 was $475,000. This makes it really attractive for regular buyers, including first time home buyers and families looking for a good community. However, while those numbers look great it'll be tough trying to find a home on the market (that you want) at these median home prices. With all the buzz focusing the real estate spotlight on these Northeast Los Angeles communities, home prices go up and so does competition.

Luckily, the awesome real estate team of Urban Hillsides is here to help you navigate through the Northeast Los Angeles home buying process. Want to learn more? Give us a call!

323.300.1186

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!

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Echo Park

1460 Morton Place | 3 BR, 2 BA, 1,716 sq ft | $764,000

Listing agent: Judy Oroshnik

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Highland Park

1497 Glen Ellen Pl | 2 BR, 1 BA | $399,000

Listing agent: Shirma Corella

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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!

The changing climate of Downtown Echo Park

2014 is a new year and a lot of changes along Sunset Boulevard in Echo Park. The most notable changes over the past couple of months - popular restaurants and retail businesses leaving, some of which have been around for decades. Restaurants like Barragan's, which opened in 1961 in that same spot, and, just down the road, 35-year old El Conquistador also just closed.

Some empty retail spots are finally getting some attention - a restaurant of some kind is going in to 1525 Sunset Boulevard near Laveta; it's been a few years since anything has happened there. And, despite the controversy surrounding its owners, Lassen's has started working on the former Save-a-Lot next to Walgreens on the corner of Sunset and Logan, which has been collecting dust for a couple of years now.

For those who welcome those changes, empty storefronts are never good for a neighborhood. But some neighbors aren't thrilled with the changes. Having been in Echo Park for over 30 years now, I can understand the sentimental connection for the history of the neighborhood - after all, it's home!

These are cyclical changes - sometimes painful, sometimes great. I remember going to El Studio 1 back in the day; when it closed down in the 1990s, the place just sat there for nearly 20 years. Before we knew it, it became a bustling craft beer restaurant by the name of Mohawk Bend. It's changed, but I'm glad it's no longer rotting away.

The foundation of the communities in and around Echo Park have and are still shifting; whether it be in real estate, in new restaurants, in the quality of life for our neighbors and our families. Despite the loss of many good things through these changes, as inventor Charles Kettering said, "You can't have a better tomorrow if you are thinking about yesterday all the time."

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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+
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 Want to see how these compare? View our past weekly real estate market reports!