This is the time in the real estate market when you can make a move. Whether you’re coming in with cash, are a first time home buyer, qualify for government incentives (military, teacher, fireman, etc) or simply have a stable job with a solid FICO score — you may be in position to make a run in LA.
So the question is where to look to get the deals. Below are 5 neighborhoods on the rise. Both in terms of real estate value as well as community (which often go hand in hand). See this great article from GOOD cities on what to look for in a neighborhood on the rise.
ATWATER VILLAGE: Sandwiched between Los Feliz and Silverlake, Atwater Village is basically an joint of the two. Strategically situated East of Los Feliz and North of Silverlake, it’s the link between these 2 wonderful scenes. Los Feliz Blvd runs through the heart of Atwater with nightlife hot spots such as The Griffen and The Bigfoot Lodge. Add Griffith Park and the LA Zoo around the block, and Atwater offers a great community that is rapidly growing commercially. Make sure to hit up the Par 3 golf course right by the 5 Fwy! Check out this vintage Atwater condo priced in the low $200,000’s.
EAGLE ROCK: A very hip and cool area that is home to the small but prestigious Occidental College. Eagle Rock Blvd is also where you’ll find some of the best LA pizza, Casa Bianca. With only 2 condo listings on the market right now, it’s only a matter of time before the developers start knocking on the doors of the 2 FRWy. Check out this market analysis of Eagle Rock as well as these two listings, courtesy of trulia.com.
CULVER CITY: Ok, so technically it’s a city. But so is West Hollywood. Either way, with walkability being one of the biggest factors in property value, Culver City has certainly got that covered. With the new additions of restaurants, movie theatres and malls, CC has got a scene and it’s goin’ on! Home to Sony Pictures as well as historical landmarks and hot spots such as the Culver Hotel, Culver balances old and new LA. Check out these listings courtesy of trulia.com — then see what wikipedia had to say about it’s rebirth below.
“In the 1990s, Culver City launched a successful revitalization program in which it renovated its downtown as well as several shopping centers in the Sepulveda Boulevard corridor near Fox Hills Mall. Around the same time, the relocation of Sony‘s motion picture operations (known as Columbia Pictures) to the former MGM studios at Washington Boulevard and Overland Avenue brought much-needed jobs to the city. The influx of many art galleries and restaurants to the eastern part of the city, formally designated as the Culver City Art District, promptedThe New York Times in 2007 to praise the new art scene and call Culver City a “nascent Chelsea.”
HIGHLAND PARK: People are developing in Highland Park. Check out this one bedroom built in 2006. Own for less than what you may be renting! One of the oldest neighborhoods in LA that experienced a drought seems to be back on the rise. With the expansion of LA’s metro, and the Yellow Line running through HP, this is a huge factor.
MAR VISTA: Sharing a border with Santa Monica, West LA, and our predecessor (Culver) is never a bad thing to have going for a neighborhood. It’s location alone does the same thing Atwater’s does — it makes it a place people want to live in. Less densely populated than nearby ‘Palms’ and close to the water, Mar Vista has a bright future. Check out these great condos priced in the $200-300’s.
There are plenty of other good neighborhoods in LA, but make sure you’re choosing one on the rise nd not one that has peaked. See this this trulia blog post to learn more about neighborhood property value decline.