First, I want to explain that there are many sub Los Angeles real estate markets that make up the whole Los Angeles. Sub-Areas like Venice 90291, Palms 90034, Koreatown 90005, Los Feliz 90027, El Sereno 90032, West Los Angeles 90025 & 90064, Westwood 90024, Bel Air 90077, Westchester 90045 and many more.
If you use general data and statistics for Los Angeles real estate activity including all areas and types, you can get an overview that might not be what you need for a real estate decision. I recommend you look either at a specific tax assessor track or a zip code and other times a specific school district to determine a trend you can use more effective. Of course, being a 40 year experienced real estate professional, I suggest you have an expert to either assemble the data and interpret it or you gather your own data and have the expert give you a summation of it. Regardless, you need to know the ingredients of the data like you would if you were assessing dessert.
Why do I say dessert instead of an entrée? It is because real estate investment does provide at times shelter, however, the basics of life are water, air, food, clothing, and hope. Real Estate is very important for wealth building, yet if you do not have the basics the benefits of real estate ownership are less important.
Hope this gives you or a friend inspiration to ask more questions and be alert when your questions are answered.
Peace and Joy, Keith Endow (310)722-2562.
