Home Buying in Los Angeles>Question Details

palmer, Home Buyer in Los Angeles, CA

With the new Expo line being built, what will be its affect on home prices?

Asked by palmer, Los Angeles, CA Tue Dec 4, 2012

I own a Condo in the Palms area and I can walk to the new CC station and will be able to walk to the National station. Would this help my condo value now and the long term when the entire line is finished to Santa Monica?

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It'll improve home prices in PHASES though. I'm positive it will improve the price of your condo early on if you can walk to the CC station. The trend is more walkable and transit friendly neighborhoods. I have a blog that talks about new developments that are planned for around Expo line II.

http://www.trulia.com/blog/abe_chang/2012/10/real_estate_dev…

If all these do get developed your condo should do very well. Transit stations without development may take some time for prices to go up, if at all. Curbed LA even had an article on Villaraigosa creating a cabinet to work on developing growth next to transit lines. It's an interesting article.

http://la.curbed.com/archives/2012/11/mayor_creates_cabinet_…

Hope this helps.
1 vote Thank Flag Link Tue Dec 4, 2012
Long term, absolutely. The commute is already terrible and it will only get worse. having the Expo line nearby will make your property more desirable and hence increase its value.
0 votes Thank Flag Link Fri Dec 7, 2012
Yes, I do think that it will be an asset that can be brought up when the property is listed for sale. I'm not sure it will actually increase the value, but it is an intangible asset that might tip the balance with a buyer who is considering your property.
0 votes Thank Flag Link Tue Dec 4, 2012
I think that such a major development should be able to benefit property owner and increase property value.
0 votes Thank Flag Link Tue Dec 4, 2012
It certainly won't hurt pricing, that's for sure.
Web Reference: http://www.homejane.com
0 votes Thank Flag Link Tue Dec 4, 2012
Unless you see it as a nuisance, new development almost always helps prices! During construction it may be tough, but down the line, in my opinion, it will help increase value to your property.
0 votes Thank Flag Link Tue Dec 4, 2012
Yes, it will absolutely push up your condo's value. People who are forward-looking drawn to urban living very much appreciate having easy access to transportation, dining, shopping and such.They know how important it is to have the ability to reduce their carbon footprints by walking places or riding the Metro.

Please don't hesitate to contact me. I'd love to talk with you further about this.

Marty Walker
eXp Realty
323.559.5823
marty.walker@exprealty.com
0 votes Thank Flag Link Tue Dec 4, 2012
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