I think every investor likes to know what’s happening to values as he or she watches values click up in their favorite locations. I think it is also easy to start feeling that “it has to stop, it can’t go any higher!” So I have done a quick survey of what is happening around our area and would like to report a few sales. I’ll just give the address, the sale price, and the price per unit.
ADDRESS SALE PRICE PRICE PER UNIT
1840 N. Kenmore, Los Feliz $26 Million $361,100
Jefferson & Hollywood $120.5 Million $446,000
Rubix in Hollywood $109 Million $493,000
4270 Lindblade. LA $11.4 Million $570,000
1400 Hermosa, Hermosa $8 Million $667,000
1542 Manhattan, Hermosa $7.4 Million $1,057,000
This information came from a few issues of the Los Angeles Business Journal.
We tend to forget how dynamic the California is and fail to compare values here with the rest of the world. Our economy is once again ranked as the 6th largest economy in the WORLD. Since the US is ahead of us that says that only 4 other countries in the world have a better economy than ours.
So, before you start panicking as you watch prices rise, have a look around the area because that is where values are headed.