Providing local insight into the best schools in and around where you want to live on Los Angeles' eastside.

Silver Lake Home Gets Top Dollar

My Silver Lake sellers never thought they would get such a high price for their home.  The house needed work and with a some cleaning and polishing their home began to shine. We listed it for $849,000, within one week we received 15 offers and sold it for $1,001,000. How surprised and delighted they were that their home sold for $152,000 over the asking price. 2319 Kenilworth Ave, Los Angeles, 90039 Located in prime Silver Lake on one of the best streets in Moreno Highlands and within Ivanhoe Elementary School District. This 1953 Traditional 1806 sq. ft. home has 3/beds & 2/baths, refinished hardwood floors, 2-car garage, a large living room and den which opens to a huge patio and backyard with lake views and room for a pool. Updates include copper plumbing, tankless water heater, and central air & heat. With some cosmetic updating and new landscaping, this is a great value for an investor or simply a buyer who would like instant equity and a wonderful place to live for many years. Listing...

It is a Seller’s Market in Silver Lake, Echo Park and beyond………

The real estate market in Silver Lake changed as of January 1st 2012.  We went from a buyers market to a sellers market almost over night.  The inventory is shrinking with only 36 homes for sale on the Multiple Listing Service in all of Silver Lake and Echo Park. I have never seen inventory this low. The interest rates have been amazingly low, the prices of homes have come down and rents have gone up.  It now makes sense for buyers who have been sitting on the sideline to jump into the market and purchase a home. The problem is there are so few homes for sale and multiple offers on most.  Many of my would be sellers do not have enough equity in their home for a down payment on a more expensive home after paying Realtor fees and any repairs. Here is an example of what happened to my buyers this past January.  In late December 2011 my buyers wrote a purchase contract on a house in Silver Lake, which has been on the market since March 2011 and never had an offer.  My buyers and the...