February 28, 2012
Home Prices Still Falling In Pico-Robertson
This is in-line with what his happening around Los Angeles, California and the nation.
Home prices in Pico-Robertson are down about 30% from the peak in 2006.
Rents are rising.
WASHINGTON (AP) — Home prices fell in December for a fourth straight month in most major U.S. cities, as modest sales gains in the depressed housing market have yet to lift prices.
The Standard & Poor's/Case-Shiller home-price index shows prices dropped in December from November in 18 of the 20 cities tracked. The steepest declines were in Atlanta, Chicago and Detroit. Miami and Phoenix were the only cities to show an increase.
The declines partly reflect the typical slowdown that comes in the fall and winter.
Still, prices fell in 19 of the 20 cities in December compared to the same month in 2010. Only Detroit posted a year-over-year increase. Prices in Atlanta, Las Vegas, Seattle and Tampa dropped to their lowest points since the housing crisis began.
Filed under Real Estate by Levi Ben Avraham
October 12, 2011
Home Prices Down 25% From 2006 Highs
Home prices in Pico-Robertson are down about 25% from 2006 highs. Overall, real estate in this neighborhood has held up pretty well as more people seek to move in.
Rents dipped in the 2008 recession, about 5%, but have overall stayed close to even the past five years. The high-end rents have dropped a tad but the rest are unchanged.
Filed under Real Estate by Levi Ben Avraham
September 26, 2011
How Much For A Studio Apartment In Pico-Robertson?
I was talking to a guy who runs a building-maintenance company last night who knows the neighborhood and we talked a bit about rents–he said that the standard rent for studios now is under $1000–he thought it was around $900-$950.
Read more on How Much For A Studio Apartment In Pico-Robertson?…
Filed under Real Estate by Levi Ben Avraham
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Filed under Los Angeles, Real Estate by Levi Ben Avraham
Based on anecdotes from real estate agents, I've learned that condos that sold for $600,000 in the Pico-Robertson area in 2007 now go for about $520,000.
On the other hand, rents have not decreased. They've been going up steadily over the past four years as more people switch from owning a home to renting. Thus, there's more demand for rentals and prices go up.
Read more on Real Estate Prices Have Dropped About 20% In Pico-Robertson Since 2007…
Filed under Real Estate by Levi Ben Avraham
August 3, 2011
So You Want To Renovate?
It's a big deal if you want to renovate your home in Pico-Robertson in specific or Los Angeles in general.
Because Southern California is prone to earthquakes, building codes are strict.
Filed under Real Estate by Levi Ben Avraham
June 21, 2011
Where's The Recession In Pico-Robertson?
I notice very few vacation buildings in Pico-Robertson. But you go a few blocks outside of Pico-Robertson to La Cienega Blvd and east of La Cienega on Pico, and you'll find some vacancies.
Filed under Real Estate by Levi Ben Avraham
May 27, 2011
Orthodox Jews Keep Moving Into Pico-Robertson
They are pushing the community east of La Cienega and south of Airdrome, thus bolstering real estate prices and rents.
Filed under Real Estate by Levi Ben Avraham
May 24, 2011
Pico-Robertson Bustling With Renters
The economic crash has not caused any reduction in rents that I can see in Pico-Robertson. Home values have taken a hit.
Filed under Real Estate by Levi Ben Avraham
May 19, 2011
Home Prices Keep Falling
Real estate is holding its value in Pico-Robertson as more Orthodox Jews move into the neighborhood each month and more blacks are pushed out, further east and south.
I cover real estate and mortgage financing here:
Filed under Real Estate by Levi Ben Avraham