Eastside Property Report: Will home buyers get more by waiting?

The 90039 Zip Code, which includes Atwater Village and the north end of Silver Lake, is often the most pricey patch of real estate tracked by The Eastsider. That was the case in November, when the median sales price stood at $540,000, which is about one-third higher than in November of 2009, according to figures presented by DataQuick and the L.A. Times. But with the real estate market once again showing some signs of slowing,  will buyers who are still looking be able to get more for their money in the months ahead? If you didn’t plop down $540,000 in Silver Lake or Atwater last month, here is what roughly that same amount will buy you now:

Silver Lake
Asking Price: $545,000
Size: 1,920-square foot duplex built in 1963
Address: 2370 Hidalgo Avenue.
Features: This duplex (top photo) looks a bit worn out but it is one of the few properties priced around $540,000 in the north end of Silver Lake.
Sales Pitch: Each apartment has two bedrooms and 1-1/2 baths.  “Live in one & rent the other.”  Redfin Listing Info

Mount Washington
Asking Price: $549,000
Size: 3-bedroom, 1,052 square-foot home
Address: 476 Wren Drive
Features: The terra cotta-colored home (middle photo) with wood floors, central air & heat opens up onto a large courtyard and deck.
Sales Pitch: Basement could be become second level. “Enjoy romantic Al Fresco dinners or throw large parties.” Redfin Listing Info

Montecito Heights
Asking Price: $549,000
Size: 3-bedroom, 2,126 square-foot home
Address: 913 Montecito Drive
Features: One-year-old home (bottom photo) with central air & heat and two-car, attached garage
Sales Pitch: 9-foot ceilings, granite bathroom counter tops, family room. “Pristine – Freshly Created -Never Lived in.” Redfin Listing Info

Click on the link below for Eastsider November sales and price information by Zip Code

Source: DataQuick & L.A. Times

Photos from Redfin/theMLS.com

One comment

  1. It is an impossibility to time the market perfectly and I’ve been trying for the past 32 years! My philosophy is that when you are emotionally and financially ready, jump in! Unless the world as we know it completely disappears, appreciation will return, it always does. Why not get in while the getting’s good.97% financing below 4%?? $540,000 is not necessary, you can find gems in wonderful neighborhoods dotted around Highland Park and Mt Washington, the hills of Lincoln Heights under $400,000..And maybe, just maybe it’s time to look at home ownership as a right of passage, security, HOME and not an ATM machine..I’m just sayin..

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