“Compound interest is the eighth wonder of the world. He who understands it, earns it… he who doesn’t, pays it.” - Albert Einstein
In a recent study, where we analyzed sales prices in different neighborhoods of Los Feliz, over the past 60 years (Los Feliz Hills, Franklin Hills, Los Feliz Square), home values have appreciated 7% each year like clockwork.
Even through the bubbles and recessions of the late-70s, 80s, early-90s, and the recent recession in 2008, real estate values have remained on this 7% trajectory.
Obviously, some years had a faster appreciation than 7%, and some were negative.
There are only a handful of cities in the entire country that have this kind of long-term appreciation. Why?
Los Angeles is a global icon, where homes are extremely rare, and always in high demand. We cannot build another Sunset Strip or Griffith Park.
In L.A., your home truly is your most valuable, and most precious, asset.
Find “off market” buyers for your home in 60 seconds…
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Put Your House To Work For You
Last year alone, the average home in the Los Feliz Hills appreciated by $110,000.
If your home worked a 40-hour week, it’s earning $52 an hour. With the average sales price around $2.3 million up here, your home’s “monthly paycheck” would cover the entire mortgage payment. (It’s the same situation in every other neighborhood in Los Feliz.)
The homes in Los Feliz are work horses.
They never take a day off, never call in sick, and never retire.
Is it time for another raise for your house? … or a promotion?
Because interest rates are historically low, buyer demand in this price range is strong. Homes that are properly staged, marketed, and times are selling with multiple offers.
As we move into summer, the opportunities to find your next home, and a buyer for your current house will be the most abundant.
If you decided to sell…
- Where would you move?
- What does your new house look like?