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

How is your Eastside house hunt going? Share your experience and advice with other readers if you are looking for a place to buy or rent if you are looking on our coverage area. Keep it short -- no more than 150 words. Send your submission to hello@TheEastsiderLA.com.


News & Notes

• The number of LA households that are facing a "severe housing burden" will skyrocket with the July 31 expiration of the $600 extra week in unemployment insurance, says Zillow. That share will jump from about 7% to more than 48%.

• June sales results revealed that the market might have begun to rebound from depths of the pandemic, but a recent rise in coronavirus cases does not bode well for the remainder of the year, says the California Association of Realtors. Statewide, sales of homes priced above $1 million were stronger than lower priced homes. In the L.A. area, June sales jumped nearly 48% from May, but were still down 15.2% compared to June of last year. The median sales price in June was $553,000 -- up 1.5% from a year ago.

• The share of buyers who have bought homes without seeing them in person jumped to a record-high 45% this year, according to Redfin. Last year only 28% of buyers bought a place sight-unseen. Redfin says pandemic-related health concerns and growing competition are behind the increase. 

How is your Eastside house hunt going? Share your experience and advice with other readers if you are looking for a place to buy or rent if you are looking on our coverage area. Keep it short -- no more than 150 words. Send your submission to hello@TheEastsiderLA.com.


How's The Market?

We posed that question to Eastsider sponsor Edith Reyna of Edith & Liz.


Real Estate Reductions in  East LA, Highland Park and Silver Lake

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

East LA Triplex: $11,000 reduction for a 3-unit home within walking distance of shops. Now asking 539,000.

Highland Park 3 Bedroom: $25,000 slice on charming home with large lot and renovated kitchen. Now asking $750,000.

Silver Lake Modern: $28,000 chop on 3-bedroom home with private rooftop. Now asking $1,190,000.

Which property remains the most overpriced?

You voted:

 

Highland Park homes priced at $699,000

Here's what $699,000 will buy you in Highland Park:

Spanish BungalowRemodeled 2-bedroom home minutes within reach of the Gold Line Metro. Asking for $699,000.

Mid CenturySpacey home with large private front and back yard and 2-bedrooms. Asking for $699,000.

Craftsman Cottage3-bedroom home with large lot and potential for restoration. Asking for $699,000.

Which home is the best deal?

You voted:

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That's it for this week's issue

See you next Friday!

Jesus Sanchez, Publisher

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