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Silver Lake Real Estate Market Update: September 2010

September 1st, 2010

Silver Lake Real Estate Market Update: September 2010

Well priced Silver Lake real estate is selling relatively quickly. There is not a particularly large inventory homes for sale in the area right now. The mls shows the current active listing inventory to be only 52 homes. The follow chart shows Silver Lake Real Estate Market activity for the Month of August, 2010.

Silver Lake Market statistics Sept 2010

Now let’s take a look at some year to date figures from January 1, 2010 through August 31, 2010. These figures are for single family homes in Silver Lake only and to not include Silver Lake condos or income properties.

Silver Lake Home Sales Year-to-date from January 1st, 2010 through August 31, 2010

Number of Single Family Homes SOLD: 80

Highest price – $1,890,000

Median price -$735,000

Average price -$733,989

Lowest price – $172,000

Average Days on the Market – 43

Average Square footage 1,533.44

Average price per square foot- $438.80

Silver Lake prices vary by location, school district, property size and condition. The following chart shows that the majority of sale of Silver Lake single family homes this year have sold between $500,000 and $1,000,000. If you have been hoping to find a house in Silver Lake for less than $500,000 you’ll see that relatively few homes have sold in that range. This price range is not only very competitive, but the majority of the properties are major fixers, very small, and/or in less desirable areas.

YTD Sold properties in Silver Lake CA

For more information on Silver Lake, Los Feliz, Echo Park and surrounding areas, contact me directly at 213-215-4758 or check out LApropertySolutions.com

Broker Associate, HAFA certified, E-pro
Keller Williams Realty, Los Feliz
213-215-4758
info@LApropertySolutions.com
http://www.LApropertySolutions.com

Tags: silver lake real estate market statistics
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Aroma Restaurant in Silver Lake – definitely don’t curb appraise this one!

August 22nd, 2010

Aroma Restaurant in Silver Lake – definitely don’t curb appraise this one!

Last night I had the good fortune to enjoy dinner at Aroma Restaurant in Silver Lake. I was there with a group to celebrate a friend’s birthday or I may never have tried this fabulous spot. Aroma is set in a strip mall at the corner of Sunset and Silver Lake Blvd. Talk about a surpise! I was reminded of the old saying ‘don’t judge a book by its cover’. Who would have known such great food and service would be inside a place with such an unassuming exterior.

Aroma Restaurant in Silver Lake

If you are a fan of Italian, I highly recommend Aroma Restaurant. From the hot, fresh bread to the tiramisu, we were not disappointed. My husband had one of the evening’s specials- ‘surf and turf’ which consisted of a delicious sirloin steak and butterflied shrimp and veggies sautéed to perfection. My choice was the seafood pasta- also delicious and enough to serve an army. Needless to say I came home with leftovers.

Our party took up almost the entire restaurant (Aroma Restaurant probably on seats about 30 people) and between us we tried most of the items on the menu plus a few of the specials including sea bass and lamb chop entrees and one of the most delicious mushroom and cheese mousses I’ve ever tasted!

The next time you are in the mood for Italian, give tAroma a try. I can’t imagine you’ll be disappointed. You’ll find it at 2903 W Sunset Blvd, in Silver Lake.

For more dining local dining ideas and information on buying or selling property in Silver Lake, Echo Park, Los Feliz, and surrounding areas, contact me directly at 213-215-4758 or check out LApropertySolutions.com

Broker Associate, HAFA certified, E-pro
Keller Williams Realty, Los Feliz
213-215-4758
info@LApropertySolutions.com
http://www.LApropertySolutions.com

Tags: Aroma Restaurant Silver Lake
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Silver Lake’s 30th Annual Sunset Junction Street Fair takes place this weekend, August 21 and 22

August 20th, 2010

Silver Lake’s 30th Annual Sunset Junction Street Fair takes place this weekend, August 21 and 22

Silver Lake’s Annual Sunset Junction Street Fair if one of the largest celebrations of diversity in Los Angeles. The Sunset Junction Neighborhood Alliance was created to acknowledge the diversity of the neighborhoods of Silver Lake, Echo Park and Los Feliz. Long recognized as an area where artists, musicians, students, straight, gays and people of all ages live in harmony and respect for each others way of life- Sunset Junction is the perfect location for such a celebration. A huge number of people gather at this annual event and this year will be no different with and expected attendance of 75,000-100,000 each day.

Besides being a great place to get out for rides, attractions food booth and tons of live music, Silver Lake’s Sunset Junction Street Fair is also a good cause. All proceeds benefit Sunset Junction area youth programs. These programs provide work training, art classes, after schools programs and more to the area’s under-served and at-risk youth from the community. So come out on the weekend an have fun while supporting a good cause at the same time.

Here’s the schedule of events:

Saturday, August 21st, From 11am to 11pm
Sunday, August 22nd, From 11am to 10pm

3700-4300 Sunset Boulevard
4000-4200 Santa Monica Boulevard
Silver Lake, Los Angeles California 90029

SATURDAY, AUGUST 21

BATES STAGE HOOVER STAGE SANBORN STAGE

1:00 1:00 12:00

WHITE APPLE TREE BALANDUGU KAN DJ PELAU

2:00 2:00 1:30

FEROCIOUS FEW JIMMIE & MORAL GROOVE DJ JEREMY SOLE

3:00 3:00 3:30

HANNI EL KHATIB RHYTHM ROOTS ALLSTARS MALECO COLLECTIVE

4:00 4:00 5:00

SAINT MOTEL ORGONE B-SIDE PLAYERS

5:00 5:00 6:30

CHRIS PIERCE MEDUSA BIG DADDY KANE

6:30 7:00 8:00

DAM FUNK EVELYN CHAMPAGNE KING FISHBONE

7:30 8:30 9:30

MILES DAVIS/ THE OHIO PLAYERS BAD BRAINS

BITCHES BREW RE-MIX

9:00

GHOSTLAND OBSERVATORY

ELECTRO DANCE STAGE THE FOLD STAGE/LOCALS ONLY (EDGECLIFFE)

1:00 1:00

CHRISTOPHER YATES CIRCUS THE SILVERLAKE CHORUS

3:00 2:00

HYPHY CRUNK MOSES CAMPBELL

4:15 3:00

DJ BRENT BOLTHOUSE SWEATERS

5:30 4:05

DJ ERIC CUBEECHEE ANDY CLOCKWISE

6:45 5:05

SPEAKER JUNKIES POLLYN

7:50 6:15

PARTY CRASHERS F/DJ EASTERN CONFERENCE CHAMPIONS

RUCKUS & CORY ENEMY

7:25

9:00 CHIEF

SHINY TOY GUNS — HYBRIDIGITAL

f/WILD CHILD 8:35

SPECIAL GUEST TBA

9:50

SPECIAL GUEST TBA

SUNDAY, AUGUST 22

BATES STAGE HOOVER STAGE SANBORN STAGE

1:00 1:00 12:00

RAHEEM COHEN SPELLBOUND DJ WING KO

2:00 2:00 1:30

AURUM RAY RICKY RIVERA DJ CARLOS NINO

3:30 3:00 3:30

ROLLING RADIO PERMANENT ABILITY PALENKE SOUL TRIBE

5:00 4:00 5:00

GIRL IN A COMA FITZ & THE TANTRUMS BOBO MEETS RHETTAMATU

6:00 5:30 6:30

INSITE MAYER HAWTHORNE MESHELL NDEGEOCELLO

7:00 6:45 8:00

DIVISION MINUSCALA FREDDIE POOLE w/ ELLIS HALL LEE SCRATCH PERRYSilver Lake’s 30th Annual Sunset Junction Street Fair takes place this weekend, August 21 and 22

8:00 8:00

EDWARD SHARPE & THE WHISPERS

THE MAGNETIC ZEROS

ELECTRO DANCE STAGE THE FOLD STAGE/LOCALS ONLY (EDGECLIFFE)

1:00 12:00

CHRISTOPHER YATES CIRCUS GWENDOLYN & THE GOOD TIME BAND

3:00 1:00

DJ ERIC NEUTRON THE JANKS

4:00 2:00

DJ GUSTO WHEELHOUSE

5:00 3:00

DJ DEXTEROUS LESLIE & THE BADGERS

6:00 4:05

DJ SPLYCE RED CORTEZ

7:10 5:15

CC SHEFFIELD THE DEADLY SYNDROME

7:25 6:25

CAROLINE D’AMORE THE CRYSTAL ANTLERS

8:45 7:35

DJ DOC MARTIN SAM SPARRO

8:45

INFINITY (female fronted tribute to Journey)

For more on Silver Lake or for information on buying or selling property in Silver Lake, Echo Park, Los Feliz, and surrounding areas, contact me directly at 213-215-4758 or check out LApropertySolutions.com

Jenny Durling signature

Broker Associate
Keller Williams Realty, Los Feliz
213-215-4758
http://www.LApropertySolutions.com

Tags: Silver Lake Street Fair, Sunset Junction
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Moreno Highlands- Silver Lake’s Prime Neighborhood

April 3rd, 2010

Moreno Highlands- Silver Lake’s Prime Neighborhood

Moreno Highlands is the residential section of Silver Lake on the west ridge of the hill overlooking the reservoir. The area was developed in the 1920’s and 1930’s, originally planned by silent film star Antonio Moreno and his oil heiress wife, Daisy Canfield to recreate the feel of a tile-roofed Mediterranean Village. The Canfield-Moreno Mediterranean-style Villa set the tone for the neighborhood. Known as “The Paramour” this 22,000-square-foot, 22-room estate with pool and separate guest houses was built in 1923 and was the weekend party house for the high society and stars of the silent film industry. The estate is now a Los Angeles Historic Cultural Monument and used mainly as a filming location.

The Moreno Highlands has curving terraced streets providing panoramic views of the reservoir, downtown and out to the ocean depending on what side of the street a home is located. Some of the homes at the highest points afford views in every direction. The neighborhood was built with all utilities underground so there are no overhead wires to obstruct the fabulous views. There are no sidewalks on the streets but that doesn’t prevent residents from walking through the neighborhood enjoying the vistas.

Though the original design of the area was to be Mediterranean, there is a huge variation in the architectural style of homes in the Moreno Highlands. The hill is dotted with some of the finest examples of mid-century work by renowned architects including John Lautner, Gregory Ain and R. M. Schindler.

Residents of the community take pride in their homes and many have been maintained or restored to pristine condition. It is difficult to find a “fixer”, though occasionally one will come on the market and be snapped up in a hurry. Homes in the Moreno Highlands come at a premium so if this is your preferred location in Silver Lake, be prepared to pay accordingly.

There are currently only 2 homes for sale in The Moreno Highlands, one at 2423 Lanterman Terrace listed for $1,650,000 and the other at 2415 W Silver Lake Drrive listed for $1,099,000. To see either of these properties or for more information on Silver Lake, Echo Park, Los Feliz, and surrounding areas, contact me directly at 213-215-4758 or check out LApropertySolutions.com

Jenny Durling signature

Broker Associate
Keller Williams Realty, Los Feliz
213-215-4758
http://www.LApropertySolutions.com

Tags: moreno highlands, Silver lake's Prime neighborhood
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Sunset Silver Lake loft for sale at a great price

March 23rd, 2010

Sunset Silver Lake loft for sale at a great price

If you’ve lived in or been through the Silver Lake area in the last few years you are probably familiar with the Sunset Silver Lake lofts that were built in 2007. In the heart of Sunset Junction, these live/work lofts were a welcome addition to the area. A total of 43 architectural units grouped into 4 buildings, the units include commercially inspired kitchens with stainless steel appliances, stone countertops, tiled baths with large soaking tubs and inside laundry hookups. Underground parking and gated entrance provides security to the residents.

Originally listed from $590,000 to $945,000 the Sunset Silver Lake Lofts are within walking distance to stores and restuarants in Sunset Junction like the Cheese store of Silver Lake . All units are pre-fitted for high-speed Internet access and cable television, recessed lighting, architectural hardware and central air conditioning. Only a handful of units have come back on the market since they were first sold. Currently, there is a 2 bedroom/ 2 bathroom model available facing Myra that is listed for just $499,000. It is a short sale so the seller’s loss can be your gain. For a patient buyer, a short sale property can certainly be worth waiting for.

To see this property or for more information on short sales, Silver Lake, Echo Park, Los Feliz, and surrounding areas, contact me directly at 213-215-4758 or check out LApropertySolutions.com

Jenny Durling signature

Broker Associate
Keller Williams Realty, Los Feliz
213-215-4758
http://www.LApropertySolutions.com

Tags: short sale on Sunset Silver Lake Loft in Sunset Junction
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New listing in Silver Lake- Moreno Highlands traditional is sure to please

March 17th, 2010

New listing in Silver Lake- Moreno Highlands traditional is sure to please 1

If you’ve been looking for a home in the Moreno Highlands area of Silver Lake, your search may finally be over. There have been very few homes coming on the market in this neighborhood lately and this one is truly a pleasure. This three bedroom and two & a half bath traditional home has spacious living and dining room and spectacular views of the reservoir and hills beyond. You even get solar panels with this one, to help keep those electric bills at bay. All this and in the Ivanhoe Elementary School district as well! 2160 Moreno Dr., listed at $1,199,000.

If this is a bit more than you can afford but the Ivanhoe Elementary School District is important to you, you might like to see 2644 Ivan hill Terrace. This hip 50′s 3 bedroom will only set you back $757,000 – a relative bargain.

Ivan Hill terrace mid-century home in Silver Lake

To see either of these homes or for more information on Silver Lake, Los Feliz, Eagle Rock and surrounding areas, contact me directly at 213-215-4758 or check out LApropertySolutions.com

Broker Associate
Keller Williams Realty, Los Feliz
213-215-4758
http://www.LApropertySolutions.com

Tags: homes in ivanhoe elementary school district, silver lake homes for sale
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Silver Lake California’s Sunset Junction

March 9th, 2010

Silver Lake California’s Sunset Junction

Silver Lake Calfornia’s Sunset Junction is the place to be. When people talk about buying real estate in SilverlLake, it used to mean “prime Silver Lake”- the area nearest the reservoir and the hills known as the Moreno Highlands. That area is still plenty popular but the price of homes there can be pretty high. Over the past few years, another part of Silverlake known as Sunset Junction has become the hot topic.

Sunset Junction Silverlake CA

Sunset Junction is literally the place where Santa Monica Blvd. intersects with Sunset Blvd. The name is a carryover from the days of the old Los Angeles “red car line”, Pacific Electric Railway Company’s passenger service. Rail service was discontinued in the mid 1950′s but the Sunset Junction name stuck. Silver Lake visitors and residents alike enjoy the variety of shops and eateries for several blocks of Sunset Blvd in this area. Demand for homes within walking distance of Sunset Junction has increased dramatically in recent years, prompting the development of the popular live/work Lofts at 4111 Sunset Blvd. Los Angeles Red Car used to stop at Sunset Junction

Less gritty than in past years, Sunset Junction boasts a large selection of cafes, shops and restaurants. The building that once housed a carniceria is now home to the Silverlake Conservatory of Music- a non-profit organization that offers reasonably priced music lessons and grants scholarships to children in need. In the same building you’ll find the hip coffee bar, Intelligentsia with its outdoor tables and umbrellas, The Cheese Store of Silver Lake, and Café Stella, a lively French Bistro. Right at the corner is a shoe store called Kicks. This isn’t your grandfather’s Silver Lake!

Housing south of Sunset Blvd and within a short jaunt to Sunset Junction has become increasing popular, no doubt due to the plethora of things to do and see in the area. Recently a storybook cottage at 970 Maltman garnered a lot of attention and received multiple offers within days of going on the market and last week a 3 bedroom, 2 bath craftsman at 1401 Edgecliff Dr. also collected multiple offers in just 4 days. It looks like Sunset Junction has finally come into its own.

For more information on Sunset Junction, Silver Lake, Los Feliz, Echo Park and surrounding areas, contact me directly at 213-215-4758 or check out LApropertySolutions.com

Jenny Durling signature

Broker Associate
Keller Williams Realty, Los Feliz
213-215-4758
http://www.LApropertySolutions.com

Tags: Silver Lake, Sunset Junction
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New Silver Lake Library Grand Opening on Monday, November 16

November 10th, 2009

New Silver lake Library Grand Opening on Monday, November 16

The wait is almost over! Yes, Silver Lake’s new, LEED certified library is set to have its grand opening and ribbon cutting celebration on Monday, November 16 at 10:00am. Special guests will include Los Angeles Mayor Anotnio Villaragosa, Los Angeles City Coucil President Eric Garcetti, Councilman Tom LaBonge and the Citiy Library Martin Gomez.

If you can’t make it to the ceremony on Monday morning, you’ll have another chance to cebrate on the weekend. The Friends of the Silver Lake Library who have been instrumental in getting this library built, are hosting a Silve Lake Community Open House. This Celebration will take place on Saturday, November 21st from 10 am to 5 pm. There will be music, food, and fun for everyone.

Parking is limited so this is a great opportunity to get a little fresh air and walk or bike to the event. Maybe take a trip around the the reservoir first so you can burn off some of the to-be-eaten goodies at the event!

The new Silver Lake Library is located at 2411 Glendale Blvd at the corner of Glendale Blvd and Silver Lake Blvd. See you there!

for more information on Silver Lake, Echo Park, Los Feliz, Eagle Rock and surrounding areas, contact me directly at 213-215-4758 or check out LApropertySolutions.com

Broker Associate
Keller Williams Realty, Los Feliz
213-215-4758
http://www.LApropertySolutions.com

Tags: new library in silver lake to open grand opening silver lake library community celebration, silver lake library
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Silver Lake, CA Moreno Highland Foreclosure in the Ivanhoe School District Listed for only $888,800!

October 25th, 2009

Silver Lake, CA Moreno Highland Foreclosure in the Ivanhoe School District Listed for only $888,800!

OK, now that I have your attention… Yes, there is a bank owned home in Silver Lake’s Moreno Highlandsthat came on the market 10/24/09 at the incredibly low price of $888,800.

This over sized 1920′s Tudor is in a prime location and boasts almost 3200 sq feet of living space on a 6700+ sf useable lot. This property is not a fixer by any stretch of the imagination. There is a bonus room plus bath, dining, kitchen and living room upstairs with 3 bedrooms and two baths downstairs. Don’t forget the attached garage and views of the reservoir. Seriously, do you really expect such a house to sell for less than $900,000?

I had seen this house before when it came on the market at $1,570,000 back in September of 2007. No doubt the seller was hoping to be able to make enough money to be able to pay his debt to the bank and still walk away with some cash in his pocket. The house sat for quite a while and went through a number of price reductions:

09/04/07 original list price $1,570,000

1/27/07 reduced $1,499,000

4/21/09 reduced $1,395,000

7/29/08 reduced $1,249,000

9/02/08 reduced $1,175,000

9/07/08 reduced- now it’s a short sale! $999,000

The property had been purchased in November of 2004 for $1,080,000. Apparently the owner took some of the equity out but when it went on the market in Sept. 07, nobody was interested in paying $1,5 million plus for it. Once it hit that low price of $999,000 a year later, it got it’s share of interested buyers. Yes, this Silver Lake property had short sale offers and the bank simply refused the short sale. It was foreclosed 6/08/09 for $935,000.

I was at the open house this afternoon and it was certainly well attended. There were groups, agents, singles and couples- some with kids in tow, no doubt hoping to get them into the coveted Ivanhoe School district. I hope their agents warned them that a list price is just a list price and may have absolutely nothing to do with the final sale price of a property. The last big house in the Silver Lake’s Moreno Highlands that sold anywhere near this list price was a complete mess. It may be torn down more easily than refurbished.

This listing is in move-in condition. Other than the fact that the previously stellar view of the Silver Lake Reservoir now shows Ivanhoe Reservoir covered in black bird balls- there’s really nothing to complain about here. Do I think this house will sell anywhere close to that listing price? In a word, NO! If you don’t have at least a million dollar budget, don’t get your hopes up. This one is bound to sell fast and in multiple offers substantially above the list price. If you can compete in that price range and would like to see this house, please give me a call and I’ll arrange to show it to you.

If you are maxed out in the high 8′s, I’m afraid this is not the right house for you, but I’ll do my best to find you another place to call home. For more information on Silver Lake, Los Feliz, Eagle Rock and surrounding areas, contact me directly at 213-215-4758 or check out LApropertySolutions.com

Broker Associate
Keller Williams Realty, Los Feliz
213-215-4758
http://www.LApropertySolutions.com

Tags: foreclosure in ivanhoe school district silver lake ca foreclosure in movein condition, moreno highlands silver lake foreclosure
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3 Bedroom, 2 baths in Silver Lake’s Ivanhoe School District less than $520K?

October 13th, 2009

3 Bedroom, 2 baths in Silver Lake’s Ivanhoe School District less than $520K?

You’d love to buy a home in Silver Lake CA but what can you get in the $500,000. range that’s more than 1,000 square feet, has 3 bedrooms and to top it off, is actually in Silver Lake’s coveted Ivanhoe School District? If you said “nothing”, you’re right that you’re not going to find a house that fits that description but what about buying a Silver Lake condo? If you’ve never considered it, this could be the perfect time. Condominium living offers all the benefits of home ownership, without the hassles of yard care or exterior maintenance. You may think you want a big back yard and a grassy front lawn but do you really have the time or inclination to mow it, and how much would you actually use it?

With Single Family home prices in this neighborhood of Silver Lake still out of reach for many buyers, it might be time to check out some condos. I’ve talked about condos for sale in Silver Lake CA in a previous post, but a small, 6-unit complex on Auburn suddenly has two units available. I saw both of them on Sunday and if you like clean, contemporary lines these units are a real treat!

The condos are located at 2714 Auburn between Rowena Avenue and Waverly Dr.. This 6-unit complex was originally built as apartments in the early 90′s and converted to condos just a few years ago. The complex is in a great location. You’re right across from Ivanhoe School and just a short walk to Edendale Grill, Blair’s and The Coffee Table. Less than a mile and you’re at Gelson’s and Trader Joe’s. That’s nothing to complain about!

Unit 4 is and upstairs light filled 3 bedroom, 2 bath of 1100sf with a balcony in the living room and one in the master bedroom. It’s a front unit with stylish finishes including bamboo floors and stainless steel kitchen appliances. You also have inside laundry and central heat and air. What’s not to like? This unit is currently listed for $539,000.

If you prefer to live downstairs and farther off the street, unit #3 is another option. At 1140sf it is slightly larger than the upstairs unit and it’s got a smaller price tag at $519,000. This unit shares the same bamboo floors, modern kitchen with Bosch appliances and butcher block countertops, inside laundry and central heat and air. HOA fees are a mere $289 and you get two parking spots with either unit plus an onsite gym. Honestly, they are both so nice I would have a hard time choosing between the two of them myself!

To see either or both of these units or for more information on Silver Lake, Los Feliz, Eagle Rock and surrounding areas, contact me directly at 213-215-4758 or check out LApropertySolutions.com

Broker Associate
Keller Williams Realty, Los Feliz
213-215-4758
http://www.LApropertySolutions.com

Tags: 3 bedroom 2 bath condos in silver lake around 500k, silver lake ca condos in ivanhoe
Posted in Silver Lake, silver Lake Condos | No Comments »

Silver Lake Real Estate Market Update: September 2010

Aroma Restaurant in Silver Lake – definitely don’t curb appraise this one!

Silver Lake’s 30th Annual Sunset Junction Street Fair takes place this weekend, August 21 and 22

Silver Lake’s 30th Annual Sunset Junction Street Fair takes place this weekend, August 21 and 22

Moreno Highlands- Silver Lake’s Prime Neighborhood

Sunset Silver Lake loft for sale at a great price

New listing in Silver Lake- Moreno Highlands traditional is sure to please

Silver Lake California’s Sunset Junction

New Silver Lake Library Grand Opening on Monday, November 16

Silver Lake, CA Moreno Highland Foreclosure in the Ivanhoe School District Listed for only $888,800!

3 Bedroom, 2 baths in Silver Lake’s Ivanhoe School District less than $520K?

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