Los Angeles Fastest Appreciating Neighborhoods

fastest-appretiating-neighborhoods-in-los-angeles

Fastest Appreciating Neighborhoods in Los Angeles

The Los Angeles housing market has steadily been increasing over time in recent memory. House values are through the roof in the west coast’s major metropolis. Investing in LA neighborhoods can be tricky, generally involving a high-risk high-return scenario.

The west coast tech boom has made certain that market values stay high, and are getting high. If you want to look at the luxurious homes available in the Los Angeles real estate market, take a look at this stunning Beverly Hills MLS tool.

Now as for the fastest appreciating neighborhoods in Los Angeles, you would be surprised as to which cities made it to this list. Many neighborhoods considered unfavorable have started to see a resurgence, leaving investors to speculate over whether to invest in areas of known for growth or to take a chance on the once unwanted real estate market of certain neighborhoods.

Top 3 Fastest Appreciating Neighborhoods

Hermosa Beach

First on the list is Hermosa Beach. This seaside fastest-appretiating-neighborhoods-los-angelescommunity is known more for it’s younger party-centric crowd, but recent property value increases have pushed those who can’t afford multimillion-dollar homes, further down the coast.

The median home price in 2015 was 1,693,500 dollars, up 30.9 percent from the previous year. Low housing prices have attracted tech workers from nearby Venice and Playa Vista. The market is poised to continue appreciating, with good schools attracting the middle class and tech workers alike.

The party-centric scene will continue to draw young people, and the infrastructure and location are sure to increase families in the area.

Playa Del Rey

playa-del-rey-fastest-appreciating-neighborhoodAnother beach town, Playa Del Rey has seen similar growth in Hermosa Beach.

Tech types from Playa Vista have been moving into the area, bringing with them a disposable income. The once quite town is starting to see an increase in jobs, most of them due to the extra services the new residents require.

The housing market has a limited amount of homes for sale, causing strong competition between potential residents to secure prime real estate. As a result, home prices have skyrocketed. Compared to a year ago, the median home price increased 26.5 percent, standing at 1,517,500 dollars. The per square foot price increased by 20.1 percent as well, jumping to 636 dollars.

The neighborhood presents a challenge for investors. Pay high and expect an even higher payback? Or just leave it alone and move onto a market with a lower entry price.

Compton

An unexpected addition to this list, no doubt, Compton doesn’t conjure up the best of images in many people’s minds. But the notorious neighborhood is experiencing an upswing. Crime is on a sharp decline and the housing market is resurging.

Hit hard by the subprime mortgage crisis, the area’s housing market took a huge downswing. After the economy recovered, a plethora of homes were available on the cheap.

Property values have been since increasing, notching a 14.2 percent growth in 2015. At 274,000 dollars, the median home price is still much lower than Hermosa Beach or Playa Del Rey.

Expect the neighborhoods resurgence to attract people looking for cheap housing who would have overlooked the area in the past. If new homeowners can attract major retailers to the area then Compton stands a chance rapid appreciation. The area’s current biggest problem is overcoming the negative image it’s been labeled with over the past few decades.

Have you recently invested in real estate in Los Angeles? If so, where did you invest? Are you planning on investing any time soon? Tell us your thoughts and comment below!

The City vs. The Suburbs Debate

city-vs-suburbs

The Good Ol’ Debate

It’s an age old question that doesn’t appear to get a conclusive answer. Well, the suburbs have a finer more serene setting where you are able to relax with ease in comparison with the city life that’s constantly noisy. Would you rather settle at a noisy city or at a peaceful area? It’s a mind blowing question that needs an in depth investigation. Let’s have a look at the advantages and disadvantages for each one of them.

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The Pros & Cons of Living In The City

The city is a place where dreams and aspirations flourish, with a vibrant ambiance. However, if you’re in your 30s where should you reside? This is a choice to be make with careful consideration. Here are the benefits and drawbacks to consider if you determine to live in the city.

Pros

It goes without saying that there are greater opportunities in the city. So in case you are fresh only from school and begin a company or you’re looking to begin your career, the city is more suitable for you.

The City has various paths for growth If you’re an established entrepreneur or profession wise. Special exposure is what the city can give an individual who seeks to develop his or her private nature. It is because there are individuals from varied locations to socialize with.

In the City you will always have something to do. There’s always many different events going on, so entertainment, art, and culture will never be hard to find.

Cons

The cost of living is much higher when compared with suburban living as Sarah Preston Gorenstein points out in this poignant article.

The speed of competition n the city for chances is much greater than in the suburbs.

The crime rate is much higher in the City than in the suburbs.

If you’re planning on raising a family, you have to live in a nicer area of the city because the public schools might not be the best.

the-suburbs

The Pros & Cons of Living In The Suburbs

The “burbs” as some people have called it, offer a peaceful environment, honed in on raising a family. It is usual for young couples to live in the city, and once they’re ready to retire their party shoes and start raising a family, they move to the suburbs. Some people are young at heart and prefer to stay in the city to raise their family. Here are the pros and cons for each.

Pros

Houses in the suburbs tend to be bigger, and cheaper in comparison to houses in the city, that are often very small and cramped and highly over priced.

One of the loveliest advantages of living n the suburbs is the relaxing and peaceful setting. Ideally, there is less traffic, little noise and much less pollution.

The Suburbs often have lower crime rates, and is more suitable for children.

Cons

If you live in the suburbs and work in the city, then you’ve got lots of issues. First, you are going to pay a fortune for commuting or fuel and second you’ll spend lots of time on the road.

There’s less action the suburbs, as in there’s less happening places to go to on the weekends when you want to unwind. Thus, if you want to treat yourself you’ll most likely have to drive into the city.

What Are Your Thoughts?

What are your thoughts? Would you much rather live in the City of in the Suburbs? Both have many advantages, and certain drawbacks as well. Where do you live? And how do you like?