Pico-Robertson 90035

Los Angeles, CA 90035
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Home Prices Still Falling In Pico-Robertson

Posted by on Feb 28, 2012 in Real Estate |

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.

February 24, 2012

February 21, 2012

February 17, 2012

February 9, 2012

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Home Prices Down 25% From 2006 Highs

Posted by on Oct 12, 2011 in Real Estate |

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.

That’s what I’m hearing from people who buy, sell and rent real estate here.

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How To Dramatically Improve Your Life While Spending Little Money

Posted by on Aug 16, 2011 in Los Angeles, Real Estate |

Many of the below options have helped me.

Are you interested in inexpensive acupuncture? YoSan (on Washington Blvd in Culver City) and Emperors College (in Santa Monica) have community clinics that charge about $40 per session.

You can get low-cost psycho-therapy from $16 on up (depending on your stated income) at the Southern California Counseling Center on Pico Blvd.

There are lots of great 12-step recovery groups in Los Angeles, including:

* Sexaholics Anonymous (strong religious overtones, pushes no sex outside of marriage, no masturbation, overwhelmingly men go to this, some Orthodox Jews)

* Sex and Love Addicts Anonymous (You set your own boundaries of the behavior you want to drop. Even mix of men and women.)

* Sex Addicts Anonymous (mainly men)

I cover real estate and refinance here:

August 18, 2011

August 17, 2011

August 16, 2011

August 15, 2011

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Real Estate Prices Have Dropped About 20% In Pico-Robertson Since 2007

Posted by on Aug 11, 2011 in Real Estate |

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.

I’ve also noticed the odd home boarded up around the community. I assume that is because of foreclosure.

I cover real estate, refinance and mortgages at the following blog:

August 9, 2011

August 7, 2011

August 4, 2011

August 3, 2011

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So You Want To Renovate?

Posted by on Aug 3, 2011 in Real Estate |

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.

So you want to remodel your home? You will have to get permission from the city of Los Angeles. What does that entail? Among other things, it requires some loud smelly machine to show up with a crew of workers and to dig 50 feet below surface of your front yard and your back yard and take core samples every five feet.

With this information, the city can determine how strong of an earthquake your new building will be able to handle.

Wikipedia says: Soil liquefaction describes a phenomenon whereby a saturated soil substantially loses strength and stiffness in response to an applied stress, usually earthquake shaking or other sudden change in stress condition, causing it to behave like a liquid.

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Where’s The Recession In Pico-Robertson?

Posted by on Jun 21, 2011 in Real Estate |

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.

There was that great Hollywood video store on La Cienega and Pico that is now vacant as more of us get our movie entertainment from Netflix.

The Orthodox Jewish community is pushing east of La Cienega and south of Airdrome into the black community, dispossessing African-Americans and reducing the crime rate in Pico-Robertson proper. You’ll find old people walking the streets at night in the hood and that’s always a good sign.

I write about real estate, refinancing, and mortgages here:

June 19, 2011

June 16, 2011

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Orthodox Jews Keep Moving Into Pico-Robertson

Posted by on May 27, 2011 in Real Estate |

They are pushing the community east of La Cienega and south of Airdrome, thus bolstering real estate prices and rents.

May 26, 2011

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Pico-Robertson Bustling With Renters

Posted by on May 24, 2011 in Real Estate |

The economic crash has not caused any reduction in rents that I can see in Pico-Robertson. Home values have taken a hit.

May 23, 2011

May 22, 2011

May 21, 2011

May 20, 2011

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Home Prices Keep Falling

Posted by on May 19, 2011 in Real Estate |

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:

May 18, 2011

May 16, 2011

May 12, 2011

May 10, 2011

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Unhappy Tenants In Marina Del Rey

Posted by on Feb 1, 2011 in Real Estate |

I’ve been covering this story for months and it just keeps getting uglier.

Here are my previous reports on this.

I wrote a few months ago about the fall of real estate developer Laurence Gluck and the unhappy residents of the AQUA apartment complex at 4750 Lincoln Blvd, Marina Del Rey, CA 90292.

Aqua was formerly Marina Terrace & Archstone & Fiji Villas & Chateau Marina.

Aqua is managed and owned by BRE Properties.

An unhappy tenant emails me: “There have been 4-5 break-ins to units and cars just over the last 2 weeks and BRE will not increase Security. One tenant had his remote stolen during the theft and BRE wanted to charge him $50 to replace it. When he got upset he was then brought into the office and lectured by our very unpleasant
Assistant Manager on how to treat people. Two other tenants…just last week…had their personal belongings stolen off their first floor
balconies. And a crowbar was used to break in to a unit on Monday. I have seen a student crying because of how she was treated and an elderly man being completely ignored and blown off. Read On

And other housing news below:

January 31, 2011

January 30, 2011

January 28, 2011

January 23, 2011

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My Mortgage Refinance Blog

Posted by on Dec 12, 2010 in Real Estate |

It’s hard to go to a Shabbat dinner in Pico-Robertson without the conversation moving at some point to real estate prices.

Home prices in Pico-Robertson have stood up well during the recent recession.

The subprime crisis hit my consciousness in the Spring of 2007 and in December of 2008, I began blogging on mortgage refinance.

December 12, 2010

December 11, 2010

December 10, 2010

December 9, 2010

December 8, 2010

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LA Rents Drop

Posted by on Jan 8, 2009 in Real Estate |

I have not experienced this in Pico-Robertson.

From the LA Times:

Nationwide, apartment rents eased 0.1% in the fourth quarter, the first drop since 2002, according to the analysis by research firm Reis Inc.

Los Angeles apartment rents fell 0.7% in the fourth quarter, the first decline since 2001, although overall rents for the year were up slightly over 2007.

Property owners and real estate agents say the supply of rental units has climbed in the last year. Overbuilding during the real estate boom added vacant units to the rental pool, and some home sellers discouraged by the moribund real estate market are renting their houses or condominium units rather than trying to sell. Foreclosures add both supply and demand to the rental market, as foreclosed homes become rentals and former owners seek places to rent.

Declining incomes and rising unemployment also mean people have less to spend on rent.

Mark Verge, owner of the property listings service Westside Rentals, said he’d seen rents fall faster in the last three months than at any time since he founded the company 13 years ago.

“I used to have to beg owners to lower rents. Now they ask me, ‘What do you think I should lower it to?’ ” Verge said.

Verge said his service had 24,000 units listed for rent — a 33% increase from the 18,000 he had at this time last year.

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Jews & Real Estate

Posted by on Jul 1, 2008 in Real Estate |

Moshe Glasser writes:

When houses went on the market in my neighborhoods (first Beverlywood, in Los Angeles, sometimes called the Pico-Robertson Area, though that’s a much more expansive designation; later Teaneck, NJ and the accompanying Northern New Jersey towns like Englewood, Fair Lawn, and Bergenfield), sometimes Jews would move in and sometimes not. Especially in Teaneck, as the prices went up and up, the Jewish homes began to outnumber the non-Jewish ones, at least in the areas where synagogues caused Jews to view housing as optimal. There didn’t seem to be any conspiracy; we needed to live within walking distance of a shul. And while that distance could be extended beyond a block or two, your universe of housing options could often be drawn with a simple circle extending between half a mile and a mile around the shul building itself. But matters of convenience were also social, cultural, and economic. A wealthy shul would create wealthy homes around it, and make it harder for those outside the economic class of the shul members to move there.

And then we have the bizarre example posted at the top of this article. Apparently, a realtor or mortgage broker (there seems to be some debate) seems to want the neighbors of the area to band together, influencing the type of people who move in to an auctioned house.

Putting aside the ridiculousness of some of the issues involved here (such as the extreme cost of the house and banks’ willingness to sell an auctioned house to just about anyone to get it off their own hands, regardless of the community’s feelings), is this kind of thing moral?

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Condos For The Orthodox

Posted by on Jun 19, 2008 in Real Estate |

Marc Ballon writes in the Aug. 5, 2004 issue of the Jewish Journal:

Driving through Pico-Robertson, real estate developer George Saadin smiles as he points out kosher markets filled with shoppers, Judaica shops, shuls and dozens of kosher restaurants — veritable signs of the Jewish renaissance taking place now in the neighborhood.

The area, he said, had nearly everything that the growing number of observant Jews could want, save for one glaring exception: kosher housing. Saadin hopes to change that.

Saadin, 42, is nearing completion on a 16-unit condominium project on Cashio Street that targets traditional Jews. The kosher condos, believed to be the largest and among the first such developments in the Southland, will each feature two dishwashers, two separate counters and two sinks to allow religious Jews to cook and clean dairy and meat products separately. The units will also have programmable timers to automatically turn lights off and on during Shabbat and a netila station — a sink for ritual handwashing.

“I’m trying to fulfill the needs of our people, who are looking for something like this,” said Saadin, a member of the Executive Committee of The Jewish Federation of Greater Los Angeles. The development is open to non-Jews, he said. “I wanted to do something different from what everybody else in the area, because you get [top] dollar for doing something unique.”

At starting prices of at least $600,000, the two- to three-bedroom condominiums won’t come cheap. However, Saadin expects them to generate lots of interest because of their inherent appeal to observant Jews and their relatively large size in a neighborhood teeming with older, smaller apartment buildings.

Kosher condos “make living our lifestyle so much easier, so much simpler. There’s definitely a demand,” said Rabbi Yitzchok Sommer of Anshe Emes on Robertson Boulevard. “If you’re Orthodox, you want to live within walking distance of a shul, within walking distance of a mikvah [ritual bath], bakeries and a school for your kids that you don’t have to schlep to.”

But the Pico-Robertson development may prove a tough sell. That’s because many experts predict the housing market will slow in coming months if interest rates rise as expected. That could force Saadin to roll back prices to fill his building.

To be sure, individual homeowners in Los Angeles and elsewhere have customized their kitchens at a cost of tens of thousands of dollars to make them kosher. However, only a handful of developers across the nation have tailored large projects for a Jewish clientele.

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Pico-Robertson Homes For Sale

Posted by on Jun 19, 2008 in Real Estate |

Here are some listings:

8559 Alcott Street #204, Los Angeles CA

$520,000

2 br 2½ ba 1,520 sqft

Condo

Pico – Robertson

JUST ADDED!

millerrealestatesal…

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Source: millerrealestatesal…

Listing Type: Resale

Year Built: 1991

Price/sqft: $342

Neighborhood: Pico – Robertson

Zip: 90035

One of the largest units available in the area. Enjoy the privacy of Double Master Suites each with its…

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 South Bedford Street, Los Angeles CA

$611,000

2,450 sqft

Single-Family Home

Pico – Robertson

FORECLOSURE

RealtyTrac
www.realtytrac.com

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Source: RealtyTrac

Listing Type: Foreclosure

Year Built: 1929

Price/sqft: $249

Neighborhood: Pico – Robertson

Zip: 90035

This property is a Notice of Default. This is the initial document filed by an attorney or trustee on…

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 South Holt Avenue # 203, Los Angeles CA

$457,000

1 br 2 ba 1,287 sqft

Single-Family Home

Pico – Robertson

FORECLOSURE

RealtyTrac
www.realtytrac.com

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Source: RealtyTrac

Listing Type: Foreclosure

Year Built: 1970

Price/sqft: $355

Neighborhood: Pico – Robertson

Zip: 90035

This property is an REO (Real Estate Owned). This is the final step in the foreclosure process. Ownership…

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 Horner Street, Los Angeles CA

$616,000

4 br 2 ba 1,962 sqft

Single-Family Home

Pico – Robertson

FORECLOSURE

RealtyTrac
www.realtytrac.com

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Source: RealtyTrac

Listing Type: Foreclosure

Year Built:

Price/sqft: $314

Neighborhood: Pico – Robertson

Zip: 90035

This property is a Notice of Default. This is the initial document filed by an attorney or trustee on…

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 Gregory Way # 205, Los Angeles CA

$487,500

2 br 2 ba 1,109 sqft

Single-Family Home

Pico – Robertson

FORECLOSURE

RealtyTrac
www.realtytrac.com

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Source: RealtyTrac

Listing Type: Foreclosure

Year Built: 1980

Price/sqft: $440

Neighborhood: Pico – Robertson

Zip: 90035

This property is a Notice of Default. This is the initial document filed by an attorney or trustee on…

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 Pickford Street, Los Angeles CA

$595,000

2 br 1 ba 1,120 sqft

Single-Family Home

Pico – Robertson

FORECLOSURE

RealtyTrac
www.realtytrac.com

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Source: RealtyTrac

Listing Type: Foreclosure

Year Built: 1928

Price/sqft: $531

Neighborhood: Pico – Robertson

Zip: 90035

This property is an REO (Real Estate Owned). This is the final step in the foreclosure process. Ownership…

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1200 South Holt Avenue #201, Los Angeles CA

$599,000

2 br 2 ba

Condo

Pico – Robertson

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Source: Coldwell Banker Res…

Listing Type: Resale

Year Built:

Price/sqft: $

Neighborhood: Pico – Robertson

Zip: 90035

Spacious light & bright front unit with 2 bedrooms, 2 baths. Single story, living room with high…

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8642 Gregory Way #102, Los Angeles CA

$699,000

2 br 2½ ba

Condo

Pico – Robertson

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Source: Coldwell Banker Res…

Listing Type: Resale

Year Built:

Price/sqft: $

Neighborhood: Pico – Robertson

Zip: 90035

HUGE $80K REDUCTION!!! Beverly Hills Adj., Motivated seller. Huge 2,004 sq/ft unit; large mstr bedrm…

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1643 South Shenandoah Street, Los Angeles CA

$1,295,000

 

Multi-Family Home

Pico – Robertson

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Source: Coldwell Banker Res…

Listing Type: Resale

Year Built:

Price/sqft: $

Neighborhood: Pico – Robertson

Zip: 90035

1643-1645 S. Shenandoah St.Beautiful authentic Spanish Duplex plus Legal guest house. Charm, Charm, …

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850 South Shenandoah Street #303, Los Angeles CA

$599,000

2 br 2½ ba

Condo

Pico – Robertson

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Source: Coldwell Banker Res…

Listing Type: Resale

Year Built:

Price/sqft: $

Neighborhood: Pico – Robertson

Zip: 90035

 

Open Home: Sunday Jun 22nd, 2pm to 5pm

DO YOUR CLIENTS A FAVOR & SHOW THIS UNIT. FABULOUS SPACE, HI CEILINGS AND INCREDIBLE LIGHT. TERRIFIC…

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8653 West Olympic Boulevard, Los Angeles CA

$1,799,000

 

Multi-Family Home

Pico – Robertson

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Source: luxuryrealestate.com

Listing Type: Resale

Year Built:

Price/sqft: $

Neighborhood: Pico – Robertson

Zip: 90035

AMAZING OPPORTUNITY! A COMPLETELY VACANT TRI-PLEX IN BEVERLYWOOD! GREAT LOC BEVERLY HILLS ADJ. WALK TO…

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