Eastside House Hunter Cover

Here's the latest batch of information and news for Eastside home buyers and sellers. 


News & Notes

L.A. County's median home price in October jumped 15.3% from a year ago to $715,000 thanks to super-low mortgage rates. Sales, meanwhile, rose 11.2% compared to October last year, reports the LA Times. But not all types of properties are seeing such big gains. Observers noted that a bigger portion of sales are taking place on the luxury end of the market because higher-income buyers have been less likely to have lost their jobs or suffered other financial damage as a result of the pandemic.

Mortgage rates have hit another low point, dropping to an average of 2.72% for a 30-year, fixed-rate loan. That's about the lowest level in nearly 50 years. It's the 13th time this year that rates have hit a new low, says Bloomberg.

With low inventory and strong demand, LA homes are selling quickly. The median number of days it took to sell a home in the LA area in October was 10 days, says the California Assn of Realtors. That's down from 29 days in October of last year. Statewide, the median number of days to sell a single-family in October was also 10 days -- the lowest ever recorded, said CAR.

Hi & Low: The highest priced Eastside home sale within about the past week was a 5-bedroom Los Feliz Traditional that sold for $3,371,000 ($171k over asking); the lowest was a 2-bedroom in Boyle Heights that went for $398,500 ($21.95k under asking). 


Real Estate Reductions

$40k reduction on on East LA duplex; $39k slice on Glassell Park fixer-upper and $75k chop on Highland Park Traditional

Here are some examples, followed by a breakdown by neighborhood, of recent price cuts on homes, condos, apartments and other Eastside properties.

East LA duplex: $40,000 reduction on Spanish style duplex with 7 bedrooms. Each apartment has indoor laundry rooms, remodeled kitchens and a master bedroom with access to backyard. Now asking $660,000.

Glassell Park fixer-upper: $39,000 slice on 4-bedroom home with 2 bathrooms in need of renovations. Now asking $699,888

Highland Park Traditional: $75,000 chop on solar-panel home with 3-bedrooms, new kitchen, and new master room with bathroom. Now asking $1,060,320.

Which home is the best deal?

You voted:


Now Asking

Tudor-style homes in Atwater Village, Eagle Rock and Los Feliz

If you're into Tudor-style homes, here are three properties that are currently available:

Atwater Village: 2-bedroom home plus guest house with 2 bedrooms, side-by-side garage units and back patio. Asking $1,495,000.

Eagle Rock: 2-story home with 4 bedrooms, 3 bathrooms, den and patio deck surrounded by trees. Asking $1,398,000.

Los Feliz: 5-bedroom home with recent interior renovations, vaulted ceilings, a fireplace, patio and a balcony offering views of the city. Asking $3,700,000.

Which home is the best deal?

You voted:

Sponsored Real Estate Listings

 

All Signs Point to Homes in Highland Park, Glassell Park, Eagle Rock and More 


That's it for this week's issue

See you next Friday!

Jesus Sanchez, Publisher

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