SinLA, Home Buyer in West Hollywood, CA

What do realtors think is the real liklihood of gentrification for the eastide of West Hollywood ?

Asked by SinLA, West Hollywood, CA Tue Jan 12, 2010

I'm thinking of Santa Monica Blvd between Fairfax and Plummer Park. They keep talking about developing the Trade Joes lot, but that never goes anywhere. Do you really think this area will become like west of Fairfax, and if so, what kind of timeline would you guess before it begins to improve? Lots of pawnshops, liquor stores, a seedy strip club (well, a hetero one, anyway)... Think this wil. change?

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Weho Confused, I find the most important part of deciding where you want to live and where you are comfortable is based on your level of tolerance.

There was a time when Melrose was considered questionable at best and look at it 20 years later.

One has to see the Trends which direction is becoming "trendy" and if you are willing to take advantage of being a "trend setter" then you buy ahead of the curve.

If your tolerance level is not as open, then you wait and pay a premium for those areas that "become and are trendy".... There was a time when South of Olympic was questionable too to potentially confused people

On a side note Fred Sands Realtors, one of the boutique real estate companies of 15-20 years ago had an office on Sunset Blvd the "cool, hip, trendy sunset strip" and next door was a strip club and hundreds of million dollars worth of sales took place from the office. I remember Ben Affleck stoping in and looking at listings on the computer in the office
Web Reference: http://www.endrebarath.com
0 votes Thank Flag Link Wed Aug 8, 2012
Change is inevitable. The area is and has been improving just in the past 8 years I have lived in West Hollywood. I do believe that when the conditions are right, the planned developments will take shape...as they must in order to keep up with the demand.
And let's not forget that all this development simply means more revenue for the city. So there is encouragement as well as a need from both sides.
Plant your roots soon as the pricing as well as interest rates are very appealing right now!
0 votes Thank Flag Link Tue Jul 6, 2010
Hello confused, so from my understanding your thinking of moving west of Fair Fax, but your concern is the appreciation scale of your purchase. I have lived in Los Angeles my whole life and if the area does improve which it will over time, it will take at least a minimum of 10- 20 years. Currently their are developments which have slightly improved the area such as the best buy/target center on La Brea and Santa Monica, as well as great local restaurants that have been sprouting around Santa Monica Blvd. But on the negative end, their are many industrial development factories and warehouses such as the concrete mill on Fair Fax which diminish home value on a constant basis. Also keep in mind other factors that increase the desirability of an area; school systems, nearby restaurants and shopping, convenience to transportation and like my Brokers love to say, "Pretty just cost more". So if your looking for investment purposes in the long term, I think this would be a great area to put your money, but if your looking for short term appreciation then your looking in the wrong place. West of Fair Fax there are many properties that are at their most affordable prices ever, I can assure you that 5 years from now any purchase you make will be very rewarding in the long term. Interest are at an all time low, so I think you should take advantage of this amazing opportunity and invest for the future. If you need any assistance contact us at homes@collenandivan.com or check out our website http://www.collenandivan.com. Good Luck !

Collen & Ivan
Hollywood Real Estate Agents
0 votes Thank Flag Link Sun May 30, 2010
Dear Confused,
The trend is for gentrification eastward in Los Angeles. We are running out of affordable housing and as you know...the closer to the ocean you get, the more expensive it is.
Since I work with developers in the Commercial side of Real Estate, I can tell you that interest is high. The only thing that is keeping more projects from being built right now is the current economy.
0 votes Thank Flag Link Sun Feb 28, 2010
Hi Weho,

Nobody has a crystal ball, but this one's kind of a no-brainer. Yes, absolutely, don't think twice.

I think that there are a number of great Metro L.A. neighborhoods that are in a great position for appreciation over the next 10 or 20 years. The L.A. Basin will probably continue to go high rent from the beach to Downtown between the Hollywood Hills and the LAX glide path.

To the east, the areas around USC will keep developing, Koreatown will continue its spectacular growth, and investors and young familys will take advantage of good deals on investment properties and homes from the east end of Hollywood to Downtown along the 101 Freeway.

To the south, Baldwin Hills and Crenshaw probably offer the best opportunity for beautiful single family homes in suburban neigborhood at half the price of Cheviot Hills and West L.A.. The neighborhoods just south and east of Picfair (Pico & Fairfax) aslo offer a a number of opportunities along these lines.

Finally, Mar Vista & Palms offer some surprisingly good deals for homes on the Westside right now.

West Hollywood... you're probably paying too much already. If you can get a deal, take it.

I wrote a blog last year that talks more about some of these other neighborhoods. The link is posted below. You can also check out hundreds of properties for sale in these areas on my website. Best of Luck.
0 votes Thank Flag Link Mon Jan 18, 2010
Hey Weho Confused.

I think that's a great area to buy a property. I don't know yet what the plans are for the TJ's but with the West Hollywood Gateway I think I think it's an excellent place to consider. If I were you I would attend the West Hollywood board meetings as they discuss many of the developments seeking approval in West Hollywood. If you want more info regarding those meetings, please let me know. The area again is only going to get better and if you can't afford West of Fairfax East of Fairfax is a great option. For the moment if you can swing West of La Brea I would focus on that area more so, however they are planning the Hollywood Media Area in that area too with more developements and prices are lower East of La Brea. I give it 3 years. They have already opened spas West of Fairfax and you have the Whole Foods already there. It's culturally rich and that is part of the attraction as opposed to West of Fairfax.

Best,

Monique Carrabba
The Carrabba Group
Keller Williams Hollywood Hills
(323) 899-2900
mcarrabbba@kw.com
Web Reference: http://www.thecarrabba.com
0 votes Thank Flag Link Tue Jan 12, 2010
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