LA Digs - Northeast LA Real Estate Blog

Homes in Highland Park are much in demand for many reasons, especially because the homes are loaded with character and charm. The opportunities to get your hands on an older classic Craftsman-style home and tranform it into the home of your dreams is what make Highland Park real estate a hot, hot commodity. But every once in a while, something really special comes along and THIS IS IT!

Built just after Occidental College moved from Highland Park to Eagle Rock, this 3-level, 3-unit, Craftsman-style house on Professor's Row (Sycamore Terrace) is ready for your loving touch. It's all about the potential--and there's lots of it to work with in this 2500-sqft former beauty.

Has the Northeast Los Angeles real estate market been affected post election? Is the fact that premium homes in Highland Park, Eagle Rock, Pasadena and elsewhere are selling quickly with a dwindling inventory telling us something has shifted? If so, what is changing?

As of about a month after the unexpected results of the Presidential election, we continue to see things happen that were not predicted. The biggest change in the real estate world right now seems to be an uptick in mortgage interest rates. Rates have gone up around ½ to ¾ percent. I’ve talked to several lenders over the last few weeks and no one really knows what will happen next. Will they keep going up? Will they go down? Who knows? But it doesn’t look good for those of us who didn’t get around to refinancing at under 3.5%.

If you are planning to buy or sell a house, you should be familiar with the new Residential Purchase Agreement. "Oh, my Realtor will tell me what I need to know," you say. Think again! This contract underwent some major changes within the last couple of years, and continues to have little tweaks done to it with no real fanfare at least twice a year. Most of these changes are designed to clarify items that didn't even exist a few years ago, like leased solar and alarm systems. But some items that don't look like a big change can be if they apply to you. Also, There are some subtle bombs hidden in straight-forward boiler plate sentences.

Eagle Rock real estate isn't the only hot happening in the area!

Eagle Rock businesses really stepped out for We Heart Eagle Rock Shop Small the last Saturday of November. There were 38 businesses on the map, all located along our main two commercial streets, Eagle Rock and Colorado Boulevards. Most of these businesses are "Mom and Pop," privately owned shops by people who live right here in Northeast Los Angeles.  I visited a few, mostly the new businesses that I hadn't seen before. I was so impressed by the individuality and quality of the shops we are so lucky to have in our community. I started my Christmas shopping today in earnest and found gifts that I wouldn't have thought of if I were just shopping on the Internet--not that you couldn't shop in most of these stores online, but it's so much more inspiring to see items in person.

Well, my friends in Northeast LA and nearby environs, Northeast Los Angeles real estate is truly in our own special spaceship of home-buying and home-selling activity. The California Association of Realtors Chief Economist, Leslie Appleton Young, gave a talk on the state of California's housing in the recent past. According to her charts and statistics, California has not yet reached the peak prices of 2007. 

In contrast. we are experiencing the highest sales prices ever in Los Angeles--from the beaches to the mountains, across almost all communities. Is it any wonder that one of the most common questions we Realtors are asked now is "So when is this bubble going to burst?"

Here is the latest update for Northeast LA real estate market.