A dreamy find in Eagle Rock offering abundant outdoor space, far-reaching views and a wonderful sense of privacy | Photo from Tracy Do

Sponsored Content: All Signs Point to a Ranch-Style Home on a Large Private Lot

4834 Ray Ct | Eagle Rock https://tracydo.com/4834-ray-ct-eagle-rock-3/ 3 Beds | 2 Baths | $1,489,000 Open House Saturday and Sunday, July 24th and 25th from 2-4P This updated Ranch-style home is a dreamy find in Eagle Rock offering abundant outdoor space, far-reaching views and a wonderful sense of privacy. Design notes circa 1947 create a sun-splashed […]

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This 2-bedroom, 1-bathroom house on Arthur Street in Glassell Park sold recently for $1.06 million.

The typical home in NELA now goes for $1 million

By Jeffery Marino The median sale price for a home in Northeast Los Angeles hit $1 million in May, the latest month with comprehensive data. Prices were driven up by a frantic pace of sales in a market that is short on supply and long on demand. The $1 million median price tag — a […]

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An exquisite collection of new luxury condominium residences offering the best of two great neighborhoods

Sponsored Content: 957 FIG, Luxury Condominiums Offering the Best of Echo Park & DTLA

957 N Figueroa Ter | Echo Park / DTLA https://www.957fig.com/ 2 Beds | 2.5 Baths | From the $800,000s | More Eastside home shoppers have a new address to explore at 957 FIG, an exquisite collection of new luxury condominium residences offering the best of two great neighborhoods, Echo Park and Downtown LA. Thoughtfully curated floor plans […]

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The new eldercare facility will span the block from Yosemite Drive to Fair Park Avenue on the east side of Eagle Rock Blvd. | Rendering from Panorama Group

Large eldercare facility to be built in Eagle Rock

By Bill Hendrickson The proposal to build a large eldercare facility in Eagle Rock has gained the approval of the Los Angeles City Planning department. The go-ahead from the city effectively clears the way for construction of the facility, to be located on Eagle Rock Boulevard from Yosemite Drive to Fair Park Avenue. The facility […]

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In NELA real estate, the asking price is just an opening bid

By Jeffery Marino Bidding wars are breaking out all over Northeast Los Angeles.  The sale-to-list ratio for homes in NELA hit a record in April of 107%, which means that, on average, homebuyers paid 7% more than the list price. However, some homes sold at far higher-than-average premiums. Here are the three NELA homes that […]

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Sponsored Content: Mortgage Minute May 2021 with Daniel Arias

SPONSORED CONTENT FROM WE FUND LA MORTGAGE MINUTE VOLUME 11, MAY, 2021 ECONOMIC UPDATE The economy is suddenly heading for a speedy recovery, as millions of Americans head back to work. Jerome Powel, chair of the Federal reserve elaborated on the current state of the market in a recent interview, saying “What we’re seeing now […]

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Building and selling new construction in Highland Park, two at a time

By Jeffery Marino Originally listed in January, this pair of newly built homes, nestled next to each other on the corner of Aldama and Roy in Highland Park, recently closed for $1.56 million and $1.49 million, respectively. According to data available on Redfin.com, the lots were sold together in June of 2016 for a total […]

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Competition among homebuyers is pushing up prices: This 3- bedroom, 2-bathroom house in Highland Park had been on the market for only two weeks in March when it sold for $1.475 million -- a full $325,000 above the asking price.

Home prices in NELA: No peak in sight

By Jeffery Marino
The market dynamics in NELA are clear: Buyers are plentiful. Houses are scarce. Prices are up. Want to know why? We tell you why in this report.

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Work-from-home appeal made these the fastest selling homes in NELA

Home are selling fast in Northeast Los Angeles at prices well above asking. The median days on market in February was 45, which is two days faster than in February 2020, while the sales-to-list ratio, which compares the sale price to the asking price, was 104%. Still, some homes — like the three featured below […]

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This 1920s bungalow, located in Atwater Village near the border with Frogtown, recently sold for $930,000.

The median home price in Northeast Los Angeles nears $1 million

By Jeffery Marino

With prices for homes in Northeast Los Angeles going nowhere but up, it’s hard to believe that hopes were high for a buyer’s market as recently as 2019 and early 2020.

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Rendering of the proposed development at the corner of N. Avenue 64 and Garvanza Street in the Garvanza section of Highland Park | Rendering by SKYA Ventures.

Garvanza development hits a roadblock

By Bill Hendrickson The proposal to build an imposing, three-story apartment building at N. Avenue 64 and Garvanza Street failed to win a crucial approval on Tuesday. The developers of the project, Skya Ventures, were seeking a “Certificate of Compatibility” with the Highland Park-Garvanza Overlay Zone (HPOZ), a set of  guidelines on historic preservation and […]

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The original asking price for this 4-bedroom, 2-bathroom home in Highland Park was nearly $1 million. After 166 days on the market, it sold for $850,000.

Three home sales that prove NELA buyers have not gone mad

Pandemic. Economic uncertainty. Political turmoil. Through it all, the housing market in Northeast Los Angeles continues to break records. Have NELA homebuyers lost their minds? The answer, in a word, is “No.” The main drivers of today’s prices are limited supply and healthy demand, as explained here.  Against that backdrop, the price of a house […]

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6408 Ruby Street, Highland Park | photo from MLS.

History for sale in Highland Park

Historical charm and architectural significance are two of the biggest draws for NELA real estate buyers. Far from the condominium blocks of the Westside and the cookie-cutter sameness of the Valley, buyers are clearly willing to pay a premium for an Eastside 1920s Spanish Colonial or 1950s Craftsman. These two turn-of-the-century architectural gems, which recently […]

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This craftsman in Eagle Rock, listed for sale for $949,000, sold in November for $1.285 million -- after only 33 days on the market. | Photo by The MLS.com

NELA Real Estate: Rising supply meets bottomless demand, boosting prices

By Jeffery Marino
Residential real estate in Northeast Los Angeles is a seller’s market like no other.

In November, the latest month with full sales data, both the number of homes for sale and the number of homes sold increased in NELA. Inventory rose by 7% year-over-year, boosted by a 34% increase in new monthly listings, while sales increased by 8% year-over-year. It was the third month in a row of rising inventory and sales.

And yet, through it all, home prices just kept climbing.

What’s going on? Click to know.

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This little bungalow in Highland Park recently sold for $482,000, significantly less than the Redfin estimate.

Here’s what you can get in NELA for under $600K

The median sale price for a home in Northeast Los Angeles recently hit $920,000, with even small Highland Park bungalows like this one selling for over $800,000. But even amid rising prices, it’s possible — not easy, but possible — to find an affordable home.  The following three homes are all fixer-uppers but none of […]

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Address: 4840 Malta St Neighborhood: Highland Park Sale Price: $1,225,000; Previous Sale Price: $620,000

Three NELA Homes That Were Flipped During the Pandemic

By Jeffery Marino Starting in 2008, in the teeth of the Great Recession, buy-to-sell real estate investment – also known as house flipping – took off in Northeast Los Angeles. Eagle Rock, Highland Park, Glassell Park, Mount Washington and Atwater Village were all transformed by real estate investors snapping up properties at the bottom of […]

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Ramona Sierra (left) and Suzanna Bermudez when they aappeared at a City Planning hearing in May of 2019 to ask to be able to stay in their homes | Photo by Bill Hendrickson

It took a pandemic, but the City of Los Angeles has created more tenant security against eviction and rent increases

By Bill Hendrickson

It took a pandemic, but two Eagle Rock seniors living under threat of eviction for more than a year have gotten a reprieve.

Ramona Sierra, 91, and her 66-year old neighbor, Suzanna Bermudez, have lived in their rent-controlled bungalows at 4542-4544 Eagle Rock Boulevard for 41 years and 10 years, respectively. In December 2018, they learned that the new owner of the bungalows was proceeding with re-development plans that could lead to their eviction. READ MORE

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Bill to Allow Multi-Family Housing in Single Family Areas Is Delayed

Action on Senate Bill 50 (SB 50) — a measure to address the state’s housing crisis by rewriting local zoning codes — was put off until 2020 by the state Senate Appropriations Committee on May 16. The delay undercuts the Senate Housing Committee and the Senate Governance and Finance Committee, which passed the bill in April. The bill would let apartment complexes be built in areas deemed “job rich” or “transit rich” and would permit fourplexes in neighborhoods zoned for single-family homes.

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Ramona Sierra, 90, and Suzanna Bermudez, 65, went to City Hall on Wednesday to ask for help to avoid being evicted from their bungalows in Eagle Rock. Photo by: Bill Hendrickson

Elderly Women Face Displacement, Community Tries to Help, Odds Are Long

Ramona Sierra, 90, and Suzanna Bermudez, 65, are bracing for eviction from their rent-controlled bungalows at 4542-4544 Eagle Rock Boulevard in Eagle Rock. Sierra has lived in her bungalow for 40 years. Bermudez and her husband, who are both disabled, have lived in the bungalow three doors down from Sierra for seven years.
This particular eviction story starts in 2017 when . . . . . . . . .

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Share of Households Ages 25-64 Reporting Difficulty with a $400 Unexpected Expense, by Income | Source: Federal Reserve, Survey of Household Economics and Decisonmaking (2017)

NELA Real Estate in 2019: Don’t Push Me ʼCause I’m Close to the Edge*

A Federal Reserve survey showed that 40% of American families would have trouble handling an unexpected $400 expense. And, that’s not just lower-income families. Read on.

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NELA Real Estate in 2018: High Rents Have Cast Nearly One in Five Californians into Poverty 

California prides itself on being a prosperous state. But California has the highest poverty rate of all the states, 19%, according to a measure by the U.S. Census Bureau that looks at the costs of living in each state and the federal aid available to help cope with those costs. Over all, the census figures, […]

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NELA Real Estate: Rents in NELA Are Lower Than in Most of L.A. So Why Do I Feel Squeezed?

By all accounts, L.A. is one of the most expensive cities in America. With median home prices in Eagle Rock, Glassell Park and Mount Washington now approaching the million-dollar mark, NELA is officially among the priciest housing markets in L.A. But not everyone on the Eastside is a homeowner. In fact, renters account for the […]

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NELA Real Estate: Echo Park Home Prices Have Been Dropping. Will Prices in NELA Follow?

Echo Park is the only neighborhood on the eastside of L.A. where homes are now selling for less than they did a year ago, according to a review by the Boulevard Sentinel of 10 eastside neighborhoods tracked by Redfin.com From March through May 2018, monthly home prices in Echo Park have declined year-over-year, with the […]

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NELA Real Estate in 2018: Big Money and Big Issues at Stake in Regulating Short-Term Rentals

Los Angeles is awash in short-term rentals (STRs) and neighborhoods in Northeast L.A. are no exception. A recent glance at Airbnb and other STR sites turned up 251 offerings in Highland Park at an average rate of $98 per night, 159 in Eagle Rock at an average rate of $159 per night and 118 in […]

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NELA Real Estate in 2018: Adding a Rental Unit to Your Home Has Never Been Easier

Laws passed in 2016 and 2017 have made it easy to convert garages into apartments, renovate back houses and build new free-standing apartments in one’s backyard. Homeowners seem to love the idea: In the year after the new laws took effect, nearly 2,000 applications were filed in Los Angeles for building permits for “accessory dwelling […]

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NELA Real Estate in 2018: Want to Buy a Fixer-Upper? Good Luck. 

  It’s no secret that many houses for sale in NELA in recent years have been flipped by investors who buy, remodel and quickly re-sell them for big profits. What is (somewhat) surprising is that investor buying remains strong even at today’s high prices – and that homebuyers are still paying up for recently rehabbed […]

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