957 N Figueroa Ter | Echo Park / DTLA https://www.957fig.com/ 2 Beds | 2.5 Baths | From the $800,000s | More Eastside home shoppers have a new address to explore at 957 FIG, an exquisite collection of new luxury condominium residences offering the best of two great neighborhoods, Echo Park and Downtown LA. Thoughtfully curated floor plans […]Continue Reading
By Bill Hendrickson
The Eagle Rock Plaza has been sold. The buyers are Eastern Real Estate, based in Boston, and Atlas Capital Group, a firm based in New York City with substanial real estate assets in Los Angeles. The sale closed on Wednesday, June 16.Continue Reading
By Bill Hendrickson The proposal to build a large eldercare facility in Eagle Rock has gained the approval of the Los Angeles City Planning department. The go-ahead from the city effectively clears the way for construction of the facility, to be located on Eagle Rock Boulevard from Yosemite Drive to Fair Park Avenue. The facility […]Continue Reading
By Jeffery Marino Bidding wars are breaking out all over Northeast Los Angeles. The sale-to-list ratio for homes in NELA hit a record in April of 107%, which means that, on average, homebuyers paid 7% more than the list price. However, some homes sold at far higher-than-average premiums. Here are the three NELA homes that […]Continue Reading
By Jeffery Marino
The median sale price for a home in Northeast Los Angeles is closing in fast on $1 million. New listings flooded the Market. Catch the details here.Continue Reading
SPONSORED CONTENT FROM WE FUND LA MORTGAGE MINUTE VOLUME 11, MAY, 2021 ECONOMIC UPDATE The economy is suddenly heading for a speedy recovery, as millions of Americans head back to work. Jerome Powel, chair of the Federal reserve elaborated on the current state of the market in a recent interview, saying “What we’re seeing now […]Continue Reading
By Jeffery Marino Originally listed in January, this pair of newly built homes, nestled next to each other on the corner of Aldama and Roy in Highland Park, recently closed for $1.56 million and $1.49 million, respectively. According to data available on Redfin.com, the lots were sold together in June of 2016 for a total […]Continue Reading
By Jeffery Marino
The market dynamics in NELA are clear: Buyers are plentiful. Houses are scarce. Prices are up. Want to know why? We tell you why in this report.
1855 Topock St | Glendale
2 Beds | 2 Baths | $1,695,000
The LB House, innovative work by renowned architect Stan Allen, is offered for sale for the very first time. Here’s a photo album on this Atwater/Glendale version of the SoCal dream.Continue Reading
Home are selling fast in Northeast Los Angeles at prices well above asking. The median days on market in February was 45, which is two days faster than in February 2020, while the sales-to-list ratio, which compares the sale price to the asking price, was 104%. Still, some homes — like the three featured below […]Continue Reading
By Jeffery Marino
With prices for homes in Northeast Los Angeles going nowhere but up, it’s hard to believe that hopes were high for a buyer’s market as recently as 2019 and early 2020.Continue Reading
By Jeffery Marino Last month, we featured homes that proved NELA home buyers had not totally lost their minds. Those homes sat on the market for over 30 days (several months in some cases) and then sold at a discount, suggesting there was still a limit to what buyers were willing to pay. This month, […]Continue Reading
Tracy Do has worked in real estate for over 18 years, providing expert service for every client. Tracy and her team are committed to a proactive approach that places their listings front-and-center in the marketplace. There’s a reason that you see her name everywhere; for the best homes, all signs point to Tracy Do.Continue Reading
By Bill Hendrickson The proposal to build an imposing, three-story apartment building at N. Avenue 64 and Garvanza Street failed to win a crucial approval on Tuesday. The developers of the project, Skya Ventures, were seeking a “Certificate of Compatibility” with the Highland Park-Garvanza Overlay Zone (HPOZ), a set of guidelines on historic preservation and […]Continue Reading
Pandemic. Economic uncertainty. Political turmoil. Through it all, the housing market in Northeast Los Angeles continues to break records. Have NELA homebuyers lost their minds? The answer, in a word, is “No.” The main drivers of today’s prices are limited supply and healthy demand, as explained here. Against that backdrop, the price of a house […]Continue Reading
By Tracy Do
Location is everything, and at Genre NoHo owners are in the heart of the entertainment industry. Bordering Burbank, and with easy access to the studios, Genre is just minutes from the NoHo Arts District with its choice roster of outdoor cafes.
By Jeffery Marino
By every measure, the recent market for residential real estate in Northeast Los Angeles is the strongest on record in data going back to 2012. Read about some of those records in this story.
By ERNCContinue Reading
Historical charm and architectural significance are two of the biggest draws for NELA real estate buyers. Far from the condominium blocks of the Westside and the cookie-cutter sameness of the Valley, buyers are clearly willing to pay a premium for an Eastside 1920s Spanish Colonial or 1950s Craftsman. These two turn-of-the-century architectural gems, which recently […]Continue Reading
By Jeffery Marino
Residential real estate in Northeast Los Angeles is a seller’s market like no other.
In November, the latest month with full sales data, both the number of homes for sale and the number of homes sold increased in NELA. Inventory rose by 7% year-over-year, boosted by a 34% increase in new monthly listings, while sales increased by 8% year-over-year. It was the third month in a row of rising inventory and sales.
And yet, through it all, home prices just kept climbing.
What’s going on? Click to know.Continue Reading
The median sale price for a home in Northeast Los Angeles recently hit $920,000, with even small Highland Park bungalows like this one selling for over $800,000. But even amid rising prices, it’s possible — not easy, but possible — to find an affordable home. The following three homes are all fixer-uppers but none of […]Continue Reading
By Jeffery Marino Starting in 2008, in the teeth of the Great Recession, buy-to-sell real estate investment – also known as house flipping – took off in Northeast Los Angeles. Eagle Rock, Highland Park, Glassell Park, Mount Washington and Atwater Village were all transformed by real estate investors snapping up properties at the bottom of […]Continue Reading
By Jeffery Marino
The premium that buyers are willing to pay for small houses is exploding. Here are three examples of just that!
By Bill Hendrickson
It took a pandemic, but two Eagle Rock seniors living under threat of eviction for more than a year have gotten a reprieve.
Ramona Sierra, 91, and her 66-year old neighbor, Suzanna Bermudez, have lived in their rent-controlled bungalows at 4542-4544 Eagle Rock Boulevard for 41 years and 10 years, respectively. In December 2018, they learned that the new owner of the bungalows was proceeding with re-development plans that could lead to their eviction. READ MOREContinue Reading
Owner says he is keeping his options open as to whether to build or sell Pillarhenge. Things like that can “make you go, hmmm.”Continue Reading
“No fault” evictions are banned for the rest of 2019Continue Reading
Here’s the latest on the Real Estate Developments we’ve been following in NELA.Continue Reading
Another try at protecting tenants gets watered down. Wendy Carrillo says the bill is “a step in the right direction.” Agree? Read more about tenant protection coming from Sacramento here.Continue Reading
To Evict or Not to Evict? Why Is That Even a Question?
The clock is ticking for Ramona Sierra, 90, and Suzanna Bermudez, 65, who are bracing for eviction from their rent-controlled, one-bedroom bungalows in a five-unit complex at 4542-4544 Eagle Rock Boulevard.
Action on Senate Bill 50 (SB 50) — a measure to address the state’s housing crisis by rewriting local zoning codes — was put off until 2020 by the state Senate Appropriations Committee on May 16. The delay undercuts the Senate Housing Committee and the Senate Governance and Finance Committee, which passed the bill in April. The bill would let apartment complexes be built in areas deemed “job rich” or “transit rich” and would permit fourplexes in neighborhoods zoned for single-family homes.Continue Reading
Ramona Sierra, 90, and Suzanna Bermudez, 65, are bracing for eviction from their rent-controlled bungalows at 4542-4544 Eagle Rock Boulevard in Eagle Rock. Sierra has lived in her bungalow for 40 years. Bermudez and her husband, who are both disabled, have lived in the bungalow three doors down from Sierra for seven years.
This particular eviction story starts in 2017 when . . . . . . . . .
There are no completion dates in sight for some of the area’s most prominent developments, both private and public.Continue Reading
For a while now, when brokers have been asked, “How’s the market?” some of them have answered by saying, “It’s adjusting.” The question about the direction of the market comes from people who have thinking about selling and are wondering if they may have missed a peak in prices. It also comes from people who […]Continue Reading
A Federal Reserve survey showed that 40% of American families would have trouble handling an unexpected $400 expense. And, that’s not just lower-income families. Read on.Continue Reading
California prides itself on being a prosperous state. But California has the highest poverty rate of all the states, 19%, according to a measure by the U.S. Census Bureau that looks at the costs of living in each state and the federal aid available to help cope with those costs. Over all, the census figures, […]Continue Reading
By all accounts, L.A. is one of the most expensive cities in America. With median home prices in Eagle Rock, Glassell Park and Mount Washington now approaching the million-dollar mark, NELA is officially among the priciest housing markets in L.A. But not everyone on the Eastside is a homeowner. In fact, renters account for the […]Continue Reading
Echo Park is the only neighborhood on the eastside of L.A. where homes are now selling for less than they did a year ago, according to a review by the Boulevard Sentinel of 10 eastside neighborhoods tracked by Redfin.com From March through May 2018, monthly home prices in Echo Park have declined year-over-year, with the […]Continue Reading
Los Angeles is awash in short-term rentals (STRs) and neighborhoods in Northeast L.A. are no exception. A recent glance at Airbnb and other STR sites turned up 251 offerings in Highland Park at an average rate of $98 per night, 159 in Eagle Rock at an average rate of $159 per night and 118 in […]Continue Reading
Laws passed in 2016 and 2017 have made it easy to convert garages into apartments, renovate back houses and build new free-standing apartments in one’s backyard. Homeowners seem to love the idea: In the year after the new laws took effect, nearly 2,000 applications were filed in Los Angeles for building permits for “accessory dwelling […]Continue Reading
It’s no secret that many houses for sale in NELA in recent years have been flipped by investors who buy, remodel and quickly re-sell them for big profits. What is (somewhat) surprising is that investor buying remains strong even at today’s high prices – and that homebuyers are still paying up for recently rehabbed […]Continue Reading
It’s cliché at this point to say that the real estate market is “hot” in Northeast Los Angeles. It has been five years since Redfin, a real estate firm, ranked Highland Park as the nation’s hottest neighborhood and four years since Eagle Rock came in second in that same ranking. 2017 was yet another blockbuster […]Continue Reading