Home Buying in Los Angeles>Question Details

James Sikes, Both Buyer and Seller in Asheville, NC

What are some good areas in LA to buy and sell homes in?

Asked by James Sikes, Asheville, NC Sun Oct 23, 2011

We're looking for areas where nice homes move relatively quickly.

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Answers

13
Dear James,
There are several areas I would suggest to one of my clients. Los Angeles can be very tricky if you don't know the area well. My best suggestions is to retain by contract, a good buyer agent and get working!
0 votes Thank Flag Link Mon Oct 31, 2011
There are tons of great deals in the LA area, the Westside is a great place to invest such as West LA, Santa Monica, Brentwood, Venice, and surrounding areas. Are you looking to flip these properties quickly?

Feel free to contact me and we can discuss more specifically of what type of properties you are looking to invest in.
Have a great day,
Heather Paul, Realtor
Coldwell Banker
310-586-0364
0 votes Thank Flag Link Fri Oct 28, 2011
Hi,Name is Craig Johnson and the areas people look to most are areas with good schools,resurants,shopping all in close proximity.
0 votes Thank Flag Link Mon Oct 24, 2011
Hi James, As you may know, LA consists of a wide range of diverse neighborhoods with average home prices anywhere between $200k - $1Million+.
If you are looking to "flip" properties, there are many excellent neighborhoods around LA County to consider. I work with few clients who strictly buy, fix/upgrade, and sell properties for a profit. It is important to first establish a budget & ROI goals, to better understand what you are looking to accomplish. It is equally important to understand what type of buyers are purchasing within those neighborhoods (all cash, conventional, FHA, etc..) due to certain limitations imposed by mortgage lenders on "flip" properties; requiring the current homeowner to have owned the property for minimum period of time (90+ days) before they would lend to a new borrower.

I am more than happy to answer any of your questions and assist in achieving your investment goals. Feel free to contact me anytime.

Regards,
Sam Musallam
(818) 851-2425
Realtor818@gmail.com
0 votes Thank Flag Link Mon Oct 24, 2011
I work and live near LAX which is the gateway to the wold, just give a call and then we can elavorate a plan to work your plan,
sincerely
Angel J. Hernandez
Lic. 01320751
Prudential california Realty
e mail ajhernandez861@att.net
Direct (310)704-4863
0 votes Thank Flag Link Mon Oct 24, 2011
It depends exactly what you are looking for. Good deals can be had in different areas. Do you want to fix 'n flip? More of a build project? I have worked with both of these types of projects and seen excellent results. From the Valley to East LA to West LA and more. You need to pinpoint exactly what you're looking to do and look for properties that match that criteria. Look at market comps to gauge the property's value fixed up vs. what it is selling for now. If you need assistance, feel free to contact me.

Richard Schulman
Keller Williams Realty
#1 Listing & Selling Agent, KW Westside
(310) 482-0173
schulmanrd@yahoo.com
0 votes Thank Flag Link Mon Oct 24, 2011
Hi James:

If your looking for nice homes that move relatively quickly, it's not really the area that you are looking for, it's the price. Homes that are priced right, at market value, and not inflated will sell quicker than an overpriced home.

There are many areas in Los Angeles with nice homes, however, many of them sit on the market for over 90 days because they are OVERPRICED. A well priced home will have offers within the first 2 weeks of being on the market.

So, I what I would want to know from you is what is your criteria for purchasing a home? Are you looking to buy a distressed home, fix it up and then sell it, better known as a "fix and flip", or are you wanting to purchase a home in good condition, live or rent it out and hold it? Or are you looking for income property, 2 or more units to hold and obtain a cash income on?

What is your desired price range? Time frame - including holding time? How much revenue do you have to invest? Do you have a construction crew in place? and do you know how to evaluate homes as to condition and rehab expenses?

These are all questions you will need to answer in your mind (and on paper) and have some sort of plan to achieve your desired goals.

Feel free to contact me directly if you have any questions. Im more than happy to speak with you.

Good luck and all the best,

Kat Becker, Realtor
Prudential California Realty
katbecker@prula.com
0 votes Thank Flag Link Mon Oct 24, 2011
Location,location,location. If you are looking for investment properties it will depend on your budget. The eastside of Los Angeles is very hot now. Silver Lake, Los Feliz, Echo Park, Eagle Rock, Mt.Washington, Highland Park( this area is still transitional). We are getting multiple offers on properties that are good deals. Homes under $500k are moving qickly. Are you interested in purchasing a property to rehab? I have a Masters of Architecture degree and bring a different perspective to my real estate career. You can check out my website for more real estate info
http://www.karennumme.com
Thank you
323.804.2008
Keller Williams Realty
Web Reference: http://www.karennumme.com
0 votes Thank Flag Link Mon Oct 24, 2011
Hi James,
If you are looking to flip homes then price range is very important. Once you go over $550k end user price range, it will take few month to find a buyer at market price. My record on flip home is close escrow for purchase on June 2, 2011 for my investor and with rehab completed had an offer by June 30, less than 6 days in the market. I closed escorw on Aug 7 for my investor. It was highest priced property within last 180 days within that complex. Return on their money was about 55%. If you want details call me at 310-400-4287 or email at jkim.broker@yahoo.com

Jonathan Kim,
West USA Realty Professionals - Listing Office for Bank Owned
RE Broker Associate
REO & Short Sale Agent
0 votes Thank Flag Link Sun Oct 23, 2011
0 votes Thank Flag Link Sun Oct 23, 2011
Follow the good public schools.
0 votes Thank Flag Link Sun Oct 23, 2011
James,

If you're looking to flip homes in LA, you can sell any home very quickly if you figured out the right market price. That's where you'll have to do your homework. If you're looking for good homes, they often run up to $2-5M each and by the nature of the limited buyer pool, they'll sell within months vs weeks for cheaper homes.
Web Reference: http://www.archershomes.com
0 votes Thank Flag Link Sun Oct 23, 2011
I would be more than happy to help you. It would mostly be determined by your price range, if you are looking for public or private schools, cultural and recreational facilities, and I can certainly assist you from there with whatever is on your list.. You may e-mail me at rholcwl@pacbell.net, or 818-730-8635.
0 votes Thank Flag Link Sun Oct 23, 2011
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