Condo Comparatives: Time to buy? Ask Rasmus at PRE 213-995-5055 (www.LADowntownCondos.com)
Firstly, why PRE? Why Rasmus? Because he and his team at PRE get it: He is both an investor in South Park Los Angeles (properties and added-value businesses designed to serve the communities’ residents such as Hygee Bakery just south of 11th street, on the corner of Hope and 11th-ample parking, which will be opening quite soon) and a resident of South Park L.A himself.
His concerns, his values, and his goals are aligned with other residents and he is a powerful advocate on behalf of the prospective buyer. Interestingly and importantly, he is in tune with the fastest growing South Park L.A demographic: Korean-American buyers. Rasmus has an intuitive sense of cultural understanding, which is very important: His values and outlook align with yours.
Next: is it time to buy? YES. Note in red below, South Park L.A took a 34% slide in condo-property values. There is not much more room to fall: the overall real estate market is evening out, in fits and starts, but, The South Park Development Group’s (WWW.FLVLLC.COM) data points to a bottom. What are the net effects of waiting to see if the market has more ‘give’ in it? Potential increased interest rates (governments engaged in stimulus policies tend to lead toward increased rates) whose increase may outwiegh the gains of waiting for a further drop.
Finally, the infrastructure of South Park L.A is strong and stable and there is a group of stake-holders (Rasmus at PRE), The South Park Development Team, Francis, the Managing Director of LUMA who are working to add the amenities and services, the attractions and interests, to round the neighborhood out.
It’s time to buy.
MOST EXPENSIVE CONDOS 3/09 3/09 3/08 :
ZIPCondo Median Median Community CodeSales PricePriceChange
Hermosa Beach 90254 5 $990 $655 51%
Santa Monica 9040312803 810 -1%
Pacific Palisades 90272 5700 747 -6%
El Segundo 9024512640 529 21%
Venice 90291 4638 N/A N/A L.A./
Los Feliz 90027 5630 N/A N/A
Redondo Beach 9027714615 700 -12% Redondo Beach 9027824612 590 4%
L.A./South Park90015 5603 450 -34%
L.A./W. Hollywood 90046 7590 608 -3%
South Park Revive: Health and Wellness Center-steps forward
Today the CEO of the South Park Development Group had an illuminating, wide ranging discussion with Francis Langlois, Managing Director of Luma regarding possible spaces for the combined gym-health and wellness center.
Common to both parties was the goal of bringing residents needed, added value services and increasing overall property values by doing so, as well as helping, in alliance to effectuate positive change toward making South Park a great neighborhood for the evolving demographic.
Step-by-step, there is forward momentum on a gym for Luma residents and a health and wellness center for all South Park Los Angeles.
Thanks, Franics.
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