Saturday, October 22, 2016

Is the flipper-fueled Eastside housing market cooling down?


Which L.A. neighborhoods will be the hottest this year when it comes to home prices and sales?  You won’t find any on the Eastside, according Redfin’s Hottest Neighborhoods of 2015 Report.

The national real estate brokerage  said that this year’s  five hottest L.A. neighborhoods will be found primarily on the Westside, with the Fox Hills area of Culver City topping the local list.  That’s a big shift from the past two years when Redfin’s hottest neighborhoods – on a local and national level – included such Eastside locales as Eagle Rock – which came in No. 2 in last year’s nationwide list -and Highland Park, which topped the first-ever ranking in 2013. Why is the Westside expected to be more hot than the Eastside?

Redfin communication specialist Jeffrey Marino surmises  that real estate sales activity linked to flippers – the investors who buy, fix up and resell homes – might be cooling down.

“As investor interest in the Eastside has become exhausted, it’s clear that the traditional drivers of real estate demand (employment, good schools, vicinity of amenities) are coming back to the fore,” Marino said via email. “Culver City is close to Silicon Beach, on the Westside of L.A. and you can buy a condo there in the $300,000s!”

Redfin’s hottest neighborhood predictions are based on which neighborhoods saw the biggest increase in Redfin website page, average days on market and other factors.


The neighborhood that is expected to be the hottest in the nation is San Diego’s El Cerrito.

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  1. High 300s in Fox Hills gets you a an 800sf 1br condo in a 1980’s ‘racquet club’ mega-development with zero walkability.

    I’d rather buy a detached house in Hawthorne for the same money.

  2. Interest in Echo Park houses has not been exhausted.
    1840 Lemoyne Street
    Listed at $799,000
    Sold at $959,000

    Was it the Zen Garden off the master bedroom or the deck with a view of Downtown L.A.? These were some of the selling points for a three-bedroom Spanish-Colonial on a small lot that sold for $160,000 over asking.

    • Maybe I didn’t get it from the pictures, but I was very surprised at that sale price. $850k? Ok, high, but I get it. But that $160k over asking was just confusing. Nothing special about that yard…

  3. “I’m going to Fox Hills Mall. I’m gonna loot it and burn it to the ground.” Ahh those riot memories.

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