The World has Discovered Los Angeles
If you're new to Los Angeles you've no doubt heard long-time Angelenos talk about the not-too-distant past when this city was more affordable. Weren't we just in The Great Recession and how did the market flip so quickly?
Let's step back a bit..... My family relocated to Los Angeles from San Francisco in 2005. The first thing I noticed was that the cost of living was significantly less than that of San Francisco and New York. Also visibly noticeable were numerous tracts of the city with vacant lots or buildings in disrepair. I didn't understand why an area like Hollywood with easy access to major freeways and downtown Los Angeles was so undervalued. It was like a vacuum between the midtown neighborhoods of Beverly Center and West Hollywood to Los Feliz and Silverlake and further east. This was prior to the recession during the height of the real estate market.
Fast forward nine years and this city looks completely different than it did during the boom that took place in the early 2000s. Downtown LA has seen rapid growth, Venice and Santa Monica real estate prices are through the roof, and homes above the Sunset Strip that sold for $2-3 million before the recession are now selling for $8-20 million or higher.
Los Angeles is in a renaissance of sorts. This city has always been the entertainment capital of the world but there's more to it than movies and television. The music business is solidly back in LA, our food scene rivals New York and the art scene is exploding. The Westside beach communities are now dubbed Silicon Beach and the advertising business is once again thriving.
When people ask why, I tell them that The World has Discovered Los Angeles. We live in a world class city coupled with world class bells and whistles. Our year-round, summer-like climate draws a global audience who see our market as affordable if not inexpensive. This influx of people from around the world has elevated this city and further solidified neighborhoods and increased values in outlying areas.
A world class city demands world class homes and Los Angeles delivers: Spanish, Mediterranean, Mid Century, Craftsman, Traditional, and "Green" homes are some of the most popular, in-demand properties.
With the inevitable growth over the coming years, the city and its residents will need to manage such growth in order to meet the demands of the future while preserving its history and respecting the elements of what made Los Angeles the city it is today.
Los Angeles is in a renaissance of sorts. This city has always been the entertainment capital of the world but there's more to it than movies and television. The music business is solidly back in LA, our food scene rivals New York and the art scene is exploding. The Westside beach communities are now dubbed Silicon Beach and the advertising business is once again thriving.
When people ask why, I tell them that The World has Discovered Los Angeles. We live in a world class city coupled with world class bells and whistles. Our year-round, summer-like climate draws a global audience who see our market as affordable if not inexpensive. This influx of people from around the world has elevated this city and further solidified neighborhoods and increased values in outlying areas.
A world class city demands world class homes and Los Angeles delivers: Spanish, Mediterranean, Mid Century, Craftsman, Traditional, and "Green" homes are some of the most popular, in-demand properties.
With the inevitable growth over the coming years, the city and its residents will need to manage such growth in order to meet the demands of the future while preserving its history and respecting the elements of what made Los Angeles the city it is today.
No comments:
Post a Comment