Silver Lake Area Real Estate News And Information: March 2010

 Elysian Heights- a neighborhood in the hills of Echo Park

Most people are familiar with Griffith Park, but not as many have heard of Elysian Park and the residential area adjacent to it known as Elysian Heights- the hills of Echo Park.

Founded in 1781, Elysian Park is 600 acres of preserved space planted with native chaparral, eucalyptus, ficus and avocado trees. Considered an urban oasis to nature-loving Angelinos and visitors alike, the park is home to hiking trails, picnic areas and playing fields. It's also the location of Dodger Stadium and the Los Angeles Police Academy!

The residential area bordering the park took on the name Elysian Heights and many of the homes offer wonderful views of downtown, Echo Park and out to the ocean not to mention a great vantage point for watching summertime fireworks at Dodger Stadium. This hilly neighborhood above Echo Park property abuts the western border of the park and those homes closest to the park can command prices in the same range as those near the Silver Lake reservoir and its popular walking path. The area's proximity to downtown is another reason for the popularity  of Elysian Heights.

Families began moving into the Elysian Heights area during the real estate boom of in the 1800's. New residents ran the gamut from factory works to artists, musicians, filmmakers, and counter-culture activists with an ethnic and economic mix of true diversity.  This hilly area of Echo Park  still draws a diverse crowd and little has changed in this urbanized wooded area still visited by a plethora of wildlife from raccoons to coyotes.

The winding, hilly streets of Elysian Heights make traffic light on residential streets and like other neighborhoods nearby like Franklin Hills in Los Feliz, there are a number of public stairways used by pedestrians as both short cuts and daily workouts. Most homes in the area are smaller California bungalows, mid-century cottages and various revival styles like this storybook cottage on Park Dr. Some of them are found on walk streets with no off street parking what- so- ever, but this has not stopp ed the popularity of buying in the area. There are even some historically significant homes in Elysian Heights including the Southall House built by Rudolf Shindler  at 1855 Park Dr. and the Paul Landacre cabin and Grounds at 2006 W. El Moran that is listed as one of Los Angeles Historic cultural monuments.

As Echo Park continues to add coffee houses, restaurants and boutiques its popularity with artists and young couples grows. Those seeking a home with a view but less of a dent to the pocketbook are drawn to the hills of Elysian Heights where they can still find a good value.

For more information on Elysian Heights, Angelino Heights, Echo Park, Silver Lake, Los Feliz,  and surrounding areas, contact me directly at 213-215-4758 or check out LApropertySolutions.com

Broker Associate
Keller Williams Realty, Los Feliz
213-215-4758
http://www.LApropertySolutions.com

Copyright © 2010 By Jenny Durling *All Rights Reserved * Elysian Heights- a neighborhood in the hills of Echo Park

Los Angeles' Angelino Heights neighborhood- a step back in time

Angelino Heights is one of the oldest neighborhood in Los Angeles. It is adjacent to Echo Park and is bounded by Echo Park Avenue to the West, Boylston Avenue to the Eat, Sunset Blvd. to the West and the 101 freeway on the South. Founded in 1886, Angelino Heights is well known for its fine examples of Victorian Architecture. Many of the homes in the area are listed as landmarks in the National Register of Historic places.  As a matter of fact, the entire 1300 block of Carroll Avenue is listed in the register due to its high concentration of 19^th century Victorian homes. The residents of this street worked together to have all of the city overhead utility lines moved underground and have installed historic street lamps and hitching posts along the walkways to give the neighborhood a more authentic flavor. This hilltop residential area lies two miles northwest of downtown Los Angeles and many of the homes have commanding city views.

Angelino Heights was the first designated Historic Preservation Overlay Zone in the city of Los Angeles. Enacted in 1983, the guidelines prohibit changes to the exterior appearance of the buildings and require new construction to resemble original architecture in materials mass and scale in order to preserve the neighborhood as much as possible. Some of the homes were built elsewhere and later moved to this neighborhood but if you stroll down Carroll Avenue you'll never be able to tell which is which. Many homes may be familiar due to the number of television shows and movies that have been shot on this famous street. There are prime examples of Queen Anne and Eastlake style homes on Kellam and Carroll Avenues- some complete with their own carriage houses.

The Los Angeles Conservancy offers walking tours of Angelino Heights on the first Saturday of every month. The tour takes about 2.5 hours to cover about 5 blocks with a major focus on the architecture and history of the homes on Carroll Ave.  While known primarily for its Victorian landmarks, Angelino Heights has an impressive array of architectural styles including Mission Revival, Art Deco, Craftsman and California bungalow that were built in the early 1900's. Even Bob's Market at 1222-1234 Bellevue Avenue is a Cultural Historical Monument!  According to Historic Echo Park, "[it] is an example of a 1910 grocery story with unusual Orientalized commercial architecture".

The residents of Angelino Heights and Echo Park share the same business district, parks, schools, restaurants and shops. However, Angelino Heights remains a unique and remarkably well preserved section of Los Angeles. Though Carroll Ave. Victorians rarely come on the market, one can normally find a few houses and income properties on the surrounding streets for sale.

For more information on Angelino Heights, Echo Park, Silver Lake, Los Feliz,  and surrounding areas, contact me directly at 213-215-4758 or check out LApropertySolutions.com

Broker Associate
Keller Williams Realty, Los Feliz
213-215-4758
http://www.LApropertySolutions.com

Copyright © 2010 By Jenny Durling *All Rights Reserved * Los Angeles' Angelino Heights neighborhood- a step back in time 

California's first time homebuyer's credit is back!

Governor Arnold Schwarzenegger signed the California the Homebuyer Tax Credit (AB 193) legislation into law on Thursday March 25. It provides a state tax credit to first-time homebuyers who buy new or existing homes from May 1 until the end of 2010. First time homebuyers are definite as those who haven't owned a home in 3 years.  Homebuyers can claim 5 percent of the purchase price against their California taxes, or up to $10,000. There was already a credit in place for those buying new construction, but this new law allows the credit for those buying existing homes as well.

The eligible taxpayer who purchases a qualified personal residence on and after May 1, 2010, and on or before Dec. 31, 2010, or who purchases a qualified principal residence on and after Dec. 31, 2010, and before Aug. 1, 2011, pursuant to an enforceable contract executed on or before Dec. 31, 2010, will be able to take the allowed tax credit. The credit is applied in equal installments over three consecutive years. Under AB 183, purchasers will be required to live in the home for at least two years or forfeit the credit (i.e., repay it to the state).

So even if the Federal tax incentive is gone, California has an incentive of its own now.  If you were unable to take advantage of the Federal credit you now have until December 31 of this year to get into escrow and claim your California tax credit!  

For  information on available homes in  Silver Lake, Echo Park, Los Feliz,  and surrounding areas, contact me directly at 213-215-4758 or check out LApropertySolutions.com

Broker Associate
Keller Williams Realty, Los Feliz
213-215-4758
http://www.LApropertySolutions.com

Copyright © 2010 By Jenny Durling *All Rights Reserved * California's first time homebuyers' credit is back!

 Franklin Hills, an enchanting mix of 1920s' to mid-century homes.

Most people have heard of Los Feliz CA, but not everyone is familiar with Franklin Hills, an enchanting mix of 1920s'to mid-century homes. This historic neighborhood is located east of the Village of Los Feliz and is filled with hillside homes with views in every direction. 

The Shakespeare Bridge serves as a gateway to Franklin Hills along Franklin Avenue between Talmadge Avenue and St George Streets. Originally build in 1926, the Gothic style bridge was designated as Historic-Cultural Monument #126 in 1974. After the Northridge earthquake, the bridge was retrofitted but rebuilt in a way to preserve its historic appearance.

Franklin Hills is a unique community which is particularly pedestrian friendly, at least if you're up for a real work out.  The Franklin Hills Public Stairway system consists of a series of 14 staircases originally built in the 1920's to provide homeowners with pedestrian access to the trolley lines below. The trolley is no longer, but residents and visitors alike still use the stairways for exercise and as shortcuts from one section of the neighborhood to another.

 For more information on this property, Los Feliz, Silver Lake, Eagle Rock and surrounding areas, contact me directly at 213-215-4758 or check out LApropertySolutions.com

Broker Associate
Keller Williams Realty, Los Feliz
213-215-4758
http://www.LApropertySolutions.com

Sunset Silver Lake loft for sale at a great price

If you've lived in or been through the Silver Lake area in the last few years you are probably familiar with the Sunset Silver Lake lofts that were built in 2007.  In the heart of Sunset Junction, these live/work lofts were a welcome addition to the area.  A total of 43 architectural units grouped into 4 buildings, the units include commercially inspired kitchens with stainless steel appliances, stone countertops, tiled baths with large soaking tubs and inside laundry hookups.  Underground parking and gated entrance provides security to the residents.

 Originally listed from $590,000 to $945,000 the Sunset Silver Lake Lofts are within walking distance to stores and restuarants in Sunset Junction like the Cheese store of Silver Lake . All units are pre-fitted for high-speed Internet access and cable television, recessed lighting, architectural hardware and central air conditioning. Only a handful of units have come back on the market since they were first sold.  Currently, there is a 2 bedroom/ 2 bathroom model available facing Myra that is listed for just $499,000. It is a short sale so the seller's loss can be your gain. For a patient buyer, a short sale property can certainly be worth waiting for.

To see this property or for more information on short sales,  Silver Lake, Echo Park, Los Feliz,  and surrounding areas, contact me directly at 213-215-4758 or check out LApropertySolutions.com

Broker Associate
Keller Williams Realty, Los Feliz
213-215-4758
http://www.LApropertySolutions.com

Are you looking for homes in Los Angeles for sale?

Los Angeles is a huge city and the county is even bigger. When searching for homes in Los Angeles for sale it is helpful to narrow down your search criteria to specific neighborhoods.

No doubt you have read things in the newspaper and online and have heard reports on radio and television about California's median home price being around $249,ooo.  That number is taking into account all homes in Los Angeles for Sale or that have sold. That price could be irrelevant depending on what part of Los Angeles you are actually interested in. In general it is true that home prices are up from where they were this time last  year, but the actual price of homes in Los Angeles for sale will all depend on just what ‘part' of Los Angeles you are looking in.

Here is a map of the city of Los Angeles. Click on the map to enlarge it so the neighborhood names are legible.

 
Take a look at all of the different names and borders drawn on the map. If you thought places like Silver Lake, Echo Park, Los Feliz, Studio City and Eagle Rock were all cities, think again. All of the neighborhoods listed on this map are actually just communities within the city of Los Angeles. So if you are searching for homes in Los Angeles for sale, you will have much better luck finding what you are looking for if you simply search for properties within the communities you are interested in.

Once you decide on your neighborhoods of interest, choose a Realtor who regularly works in those areas. Your agent will know the current inventory, pricing and offering strategies to help you buy the right property.  If you are looking for homes in Los Angeles for sale  in the communities of  Silver Lake, Echo Park, Los Feliz,  and surrounding areas, contact me directly at 213-215-4758 or check out LApropertySolutions.com

Broker Associate
Keller Williams Realty, Los Feliz
213-215-4758
http://www.LApropertySolutions.com

Copyright © 2010 By Jenny Durling *All Rights Reserved * Homes for Sale in Los Angeles

New listing in Silver Lake-  Moreno Highlands traditional is sure to please

If you've been looking for a home in the Moreno Highlands area of Silver Lake, your search may finally be over.  There have been very few homes coming on the market in this neighborhood lately and this one is truly a pleasure. This  three bedroom and two & a half bath traditional home has spacious living and dining room and spectacular views of the reservoir and hills beyond. You even get solar panels with this one, to help keep those electric bills at bay. All this and in the Ivanhoe Elementary School district as well! 2160 Moreno Dr., listsed at $1,199,000.

If this is a bit more than you can afford but the Ivanhoe Elementary School District is important to you, you might like to see 2644 Ivan hill Terrace. This hip 50's 3 bedroom will only set you back $757,000 - a relative bargain. 

To see either of these homes or for more information on  Silver Lake, Echo Park, Los Feliz,  and surrounding areas, contact me directly at 213-215-4758 or check out LApropertySolutions.com

Broker Associate
Keller Williams Realty, Los Feliz
213-215-4758
http://www.LApropertySolutions.com

Copyright © 2010 By Jenny Durling *All Rights Reserved * Silver Lake-  Moreno Highlands traditional is sure to please