In Los Angeles real estate circles, everyone is talking about Highland Park. Like other Northeast LA neighborhoods like Silver Lake, Eagle Rock and Mt. Washington, Highland Park is in a state of gentrification as new stores and restaurants are popping up on York Blvd. and homes are being purchased and restored. As a result, homes in Highland Park are in demand and prices have steadily risen. But gentrification isn’t the only reason. Highland Park is a wonderful area to call home.

Highlan Park is an amiable historic neighborhood located in Northeast Los Angeles. It is a hilly neighborhood located in the San Rafael Hills along the Arroyo Seco. It is southwest of Eagle Rock and Northeast of Cypress Park. People from many ethnic and socioeconomic groups call this neighborhood “home”. The weather is pristine with the highest monthly average temperature being 73 degrees in the hottest month of July and 57 degrees in the coldest month of December. Highland Park experiences light rain; January receives the highest amount at 4.6 inches total. According to Walk Score, Highland Park is the most walkable neighborhood in Los Angeles with a score of 72. It is very accessible and most errands can be completed on foot. It has some public transportation and is somewhat bikeable with a transit score of 47 and a bike score of 53.

According to the 2000 U.S. Census there were 57,566 residents in the 3.42 square miles of neighborhood. That is an average of 16,385 people per square mile. Highland Park is one of the highest density areas in Los Angeles. Highland Park grew to 60,835 people by 2008. The ethnicity break down was as follows: Latinos, 72.4% Whites 11.3%, Asians 11.2%, Blacks 2.4% and others 2.6%. A larger than average 57.8% residents were born abroad. 55.3% of them were born in Mexico and 12% were from El Salvador. In the male population 52.2% were married, 41.2% had never been married, 4.9% had been divorced and 1.6% were widowed. For the women: 50.4% were married, 33.2% were never married, 9.3% were divorced and 7.1% were widowed. The demographic for never married was among the county’s highest. 14.3% of residents who were 25 and above had a four-year degree. This was average for Los Angeles. 45.1% of the residents were born in a foreign city. This was a high number for Los Angeles. 4.9% of people in the population were veterans; this was a low number for Los Angeles. The average age of residents was 28, which is seen as young compared to the other areas of Los Angeles.

The average household income in 2008 was $45,478, which is an average number for Los Angeles. The average household size was 3.3 people, which is 25% higher than the national average. Renters occupied60.9% of housing units, which is 105% higher than the national average. Owners completed the other 39.1%, which is 58% lower than the national average.

Zillow states that Highland Park’s home value index is $662,800, which is up 13.1% since last year and with a projected increase of 4.3% predicted over next year. The market temperature is very hot and ideal for sellers. The average price per square foot is $582, which is higher than the Los Angeles average of $448. The average price of homes is $652,500, which is 123% higher than the national average. The average rent per month is $2,600, being 22% higher than the national average. The current Market Health is 5.3/10, which is relative to other markets across the country. Highland Park will continue to grow and develop.

Because Highland Park is in a stage of gentrification with rising home prices, it is highly advised for home-buyers and home sellers to seek out an experienced Highland Park realtor who specializes in the area.

Commercial real estate deals like leasing, renting and purchasing the office space or any other commercial properties can turn out to be disgraceful if you go bland in front of the landlords who are very much experienced in the field.

In order to avoid such things happening, you should be playing some tricks while dealing with commercial landlords.

So, what are those tricks that put you in an upper edge over the landlords in a deal?

There are lots of tricks, but the best and effective ones are here.

1. Don’t show your weaknesses

Well, your weakness can be a trump card for the landlords! It’s same as in other businesses; people look out for your weaknesses, and you’re out if you keep it to display.

Of course, you can’t be an expert in all the fields, but how you manage is what matters.

Suppose you are Looking for an Office Space in a specific area and you found one; the office space has all the amenities you were looking for, and you don’t want to look for any other spaces. In this case, if the landlords get to know you are in love with the property, definitely you will not be in a good position to negotiate. The landlord may also quote a high price for the property taking your urgency as a benefit.

2. Play like an expert (Even if you’re not)

The real estate sector is not for those who are not aware of the field and the market. However, you are looking out for an office space to set your business up, and not to get into the real estate business!

But what you need to know is it’s always a benefit for landlords when the tenants are not aware of the market value and the field. You’ll be in a position to accept and agree for whatever the landlords say. So, play like an expert even if you are a novice in the field of real estate. As said in the above point, don’t let them know that you have no idea about the market value.

3. Make a great first impression!

First impression is always the best impression!

Yes, when you meet the landlord in the deal, try building a great first impression. It definitely makes a huge difference that sometimes the landlords will be convinced for a low rent or the advance amount.

Reducing the cost is not the only reason for making a good impression at first, as there are lots of other benefits like the landlord might not be willing to proffer the space to any others even if they offer high rents. So, build an impression such that the landlord sees you as a potential and trustworthy tenant.

4. Hire a skilled commercial real estate agent

One of the simplest tricks ever to deal with experienced landlords is to hire a skilled commercial real estate agent. An experienced can play all the above mentioned tricks with great ease, and put you in an upper edge in the deal. Even when you are not in a good position to negotiate for a space, a skilled agent can completely turn the deal to your side making it rewarding.

From LA’s earliest days, people have wanted to live in the storied neighborhoods of NELA. In a densely populated area where residents are always in the process of coming and going, there are always homes for sale in Echo Park at any given time. Since the early 1920’s, the real estate here has been in demand and that is how it is today. Why? Let’s take a closer look and see what the numbers say.

This is an eclectic city located in Central Los Angeles about ten minutes from Downtown. At the center of the city is the renowned Echo Park Lake in Elysian Park, which is the site of special events like the Lotus Festival. It is northwest of Chinatown and Downtown, northeast of Westlake and south east of Silver Lake.

It is split in to four districts:

• Angelino Heights – This area is known for the beautiful Victorian homes that are preserved by the city’s ordinances.
• Elysian Heights – This area is historically known for being the home of famous counter-culture artists, filmmakers, architects and political radicals.
• Historic Filipino town – This section is located in the southwest section.
• Victor Heights – A lovely area scattered with Bungalows and Stucco homes that share breathtaking views of Los Angeles and the Civic Center.

Throughout the four districts, the most common types of homes are Bungalows, Cottages, Victorians and Stuccos. According to the 2000 U.S. Census there were 40,455 people in there. Spread over 2.4 square miles there were approximately 16,868 people per square mile. This makes Echo Park one of the highest density areas in Los Angeles County. The median household income was $37,708, which is low for Los Angeles County. The average household size was 3.0, which is average for the county.

This city has a high Walk Score of 83/100. This means that most errands can be accomplished on foot within the city. This city’s transit score is 62. This city has good transit and provides its residents with many public transportation options. These include the Metro Red and Metro Purple Line, numerous bus routes and ride sharing options from Relay Rides. This city received a bike score of 49 because of the steep hills and minimal bike lanes.

According to Zillow, the average home value in Echo Park is $795,100. This value has increased 14.4% since last year and Zillow estimates it will continue to rise 4.3% to $829,000 over the next year. The average price of homes that are currently listed is $742,450. The median list price per square foot is $618, which is higher than the Los Angeles average of $451. The average rental price is $2,967 a month. Zillow has given the Market Health a score of 8.2/10, which is very healthy in comparison to other markets across the country. This is based on a series of metrics including how fast the homes are selling compared to the past rate. Echo Park’s prime location and thrilling culture will be sure to keep the housing market rolling for many years to come.

In close proximity to the highly successful City of Pasadena, Altadena is gaining some well-earned respect reflected in its home values.

With the region north east of Downtown Los Angeles – the most western area of what is termed the San Gabriel Valley – neighborhoods and entire cities are on the rise. Nowhere is this clearer today than in Altadena, CA. Homes in Altadena are being restored to their original luster and Altadena real estate is through the roof when it comes to home values.

A friend of mine owned one of those 1920’s storybook Mediterranean-style homes with a red tile roof up in Altadena. It was perched on top of a knoll and nestled among mature trees. Rainbow colored bougainvillea vines spilled off the rooftop. Sitting in the breakfast nook, one could marvel at the San Gabriel mountain range from its French windows. The house had plaster walls that met the ceiling in a curve. The floors were constructed of large wooden planks, giving the place a kind of Greek Island art studio feel. An idyllic setting for those looking to get away from it all, the neighborhood of Altadena is located just North of its big city sister, Pasadena.

Just being in close proximity to gorgeous Pasadena – of Rose Parade fame – has never been enough to create the real estate buzz that Altadena has longed for until now. After all, Pasadena homes for sale have always been in great demand and the Pasadena real estate market is always booming. Now it’s Altadena’s turn and home sellers are giddy while homebuyers are gnashing their teeth for waiting too long to enter the Altadena real estate market.

John and Fred Woodbury launched the first subdivision, naming it Altadena in 1887. Recognizing the awesome scenic beauty of the foothills below the Angeles Crest mountain range, millionaires from the east erected the first mansions along Mariposa Street. This became known as millionaire’s row. Now let’s fast-forward to the civil rights era, a generation later. When the public schools were desegregated a phenomenon known as “White Flight” occurred in this once desirable spot. The Caucasian people pulled out and headed to the west side and the African American population doubled in size overnight. Sadly, the properties fell into disrepair and the area turned into a far less desirable neighborhood than it is today.

Thirty years later the gentrification of North East Los Angeles began to take shape. The rundown and neglected homes were purchased cheap and renovated, then flipped. North East Los Angeles became a prime target for the real estate investor and buyers of modest means scouting for their first house.

Before long the community was thriving once again and the curb appeal of these older neighborhoods improved. The ongoing restorative movement in Altadena, which began in the nineties, has helped to increase property values. As things get spruced up and the area becomes more attractive and expensive, the buyer naturally becomes more discriminating and sophisticated. Like it or not, right or wrong, he rich get richer, and those of a lower socio-economic status are often driven out. Some call it gentrification. Some call it progress. Once considered to be a common working class neighborhood, Altadena now has a private country club with tennis courts and swimming pools. A remarkable contrast to what was “the other side of the tracks” during the 1980s.

For foodies with a sweet tooth and taste for authentic Italian Gelato, take a drive down East Altadena Drive and find Leo Bulgarini’s gelateria. The Rome-born ex-sommelier chose this hot spot to open his gourmet gelato shop and that says it all. The new generation of “Hipsteropolis” bars is also finding its way to this side of town. If you have a good pallet and get a hankering for good French wine, Altadena Ale and Wine House is right around the corner. These specialty shops cater to the elite, which is of course a good sign that the community of Altadena is definitely on the rise.

You can still find a single family home in this glorious horse country for less than half a million. In California’s booming real estate market, that is unheard of. It won’t be long before the middle class will be priced out so its time for homebuyers to make their move. Start by hiring a real estate agent who specializes in the area and who has proven success assisting buyers and sellers alike in Altadena.

Many Investors have been asking me about shadow inventory how much is out there and how to get their hands on it. Shadow inventory usually refers to the supply of homes that has not yet hit the market, but “hiding” in the background. In Real Estate this refers to foreclosures (REO or bank owned properties) or those close to the process.

Banks and mortgage loan servicing companies typically hold onto properties that haven’t seen a mortgage payment for 90 days and in some cases even 2-3 years.

Why do they hold on so long?

Banks hold on since it allows them to release their inventory over time to keep their books in check and also to provide that easy liquidation to stimulate the real estate economy when necessary. Banks will now be getting more money for those newly released properties, then say 2 years ago, due to the steady increase in home prices and low inventory levels. If they chose to release all at once, it would flood the market with “distressed properties” and bring down property values.

How much “Shadow Inventory” is still out there?

Foreclosures have been steadily declining since 2013 with the highest shadow inventory then at 2.2MM. According to the National Association of Realtors, there is still about 4 years still on the books and it is possible that we could soon see more!

More “Shadow Inventory”? Why? (HAMP) Home Affordable Modification Program

In 2017 and beyond, many homeowners may find it difficult to make their mortgage payments due to “resets” with HAMP thus pushing them into foreclosure. The government’s Home Affordable Modification Program provided temporary relief to borrowers during the housing crisis. These reliefs ended after five years and now payments will be “reset” thus causing loan payment increases for nearly 900,000 homeowners. Some of those are likely to find it difficult to keep up with the payments in our current economy.

Where do Investors find “Shadow Inventory”?

Forget about calling the loss mitigation department or asking the cashier at your Big Bank. They won’t be able to help you. Instead, savvy real estate investors can approach the REO departments of smaller regional banks, credit unions and portfolio lenders to find out what could be “lurking” in the shadows. This presents an opportunity to beat out the competition and purchase at greater discounts.

But my favorite way to locate “Shadow Inventory” is what I call “Driving for Dollars”. Simply drive through areas that have high foreclosure activity and look for the white sticker posted on the front window or door of the house. This typically contains the information of the bank or asset manager of the property and their phone number. Give them a call and see where they are in the foreclosure process and if they’re ready to make a deal!

The NEW kind of “Shadow Inventory”!

There is a new kind of shadow inventory on the market these days and I’m not talking about the REO kind. Many successful agents have their own shadow inventory. If you’ve been in the business for an extended period and built up a clientele, these clients typically contact you well in advance of the property going on the market. You advise them of the steps needed to get the house ready to show which typically means doing repairs such as paint, carpet, landscaping, staging, etc. Therefore, there is a period of time before the property actually hits the market creating a different type of shadow inventory. Contacting your favorite realtor about this type of inventory can definitely increase your chances of finding that Dream home.

Happy House Hunting!

Real estate means the property consisting of land or buildings which also includes the natural resources of the land including uncultivated flora and fauna, farmed crops and livestock, water and minerals, simply speaking any improvements on it. Tenants and leaseholders may have the right to occupy or make use of anything that is within the dominion of the rented area depending on the terms and conditions set by the landlords.

However when we hear the words “real estate”, we often refer it to the “real estate market” from the perspective of residential living. This is grouped into three categories based on its use. It’s either be residential which is used for living purposes, commercial as used in commerce and industrial which is used in manufacture or production of goods. Residential are those undeveloped land, houses, condominiums and town homes. Commercial are office buildings, warehouses and retails store buildings and examples of industrial are factories, mines and farms.

Those who are buying a home often need to borrow money in the form of mortgage because prices are generally well above their savings. They can either avail of fixed-rate or variable-rate.

Commercial leases are mostly longer that residential and lenders may ask for higher down payment on a mortgage for commercial than home loan since generally residential real estate is usually less expensive so it is more affordable for small investor

Generally, this is affected by the primary condition to where the property is located. Profits or losses come through revenue from rent and appreciation of the estate’s value. There is also risk of tenant turnover especially if the business model is in bad condition, product is unattractive, or poor management and many more. So landlords, lessees has to make sure all is well set before lending the area/place.

Real estate can help you earn more especially if you are in hand with generating leads and setting well the properties in case you are into selling or offering rentals. You have to make sure you will be working more of what you invested. Usually property appraisals are of good and or high value, you just need to work on it. You must always and consistently putting your client’s best interests first. With that, your personal needs will be realized beyond your greatest expectations. Investing in this even on small scale, was tried and tested as true means of building an individual’s cash flow.

The ever-changing digital technology is gradually making life on earth easier and less hassle-free. Benefits of digitization encompass the construction industry as well. These days, a range of efficient construction project management software is readily available to make things easier for those, who are involved with the industry.

The assortment of software applications comes with many innovative features that help managing:

 All communication with your subcontractors and crew

• Every electronic correspondence
• Project schedules
• Budget estimation
• Timesheets
• Site photos and much more

Extra spadework is required

However, if you’re planning to get such a helpful software tool to drive your projects to successful completion, here’s a word of caution! Just procuring construction project management software will not help you achieve your goal. After all, it’s not any magic wand that will do wonders. You need to do some extra spadework, like preparing a foolproof plan, regularly monitoring the work progress, facilitating personal interaction with both the stakeholders and team members. Moreover, it is important to take care of the cash flow to ensure your project(s) wind up on time. To put it in simple words, the more efficient you’re in handling your responsibilities in the construction industry, the more efficiency you can expect from the range of software tools.

Now, at this juncture you must be wondering if there’s any core competence of the modern software tools. As far as the building and construction industry is concerned, project management software applications help you in the following ways:

• Accessing critical information right at your fingertips
• Having everyone on the same plane, so that there’s no missed information or error
• Alternative plans ready at hand to keep the workflow moving
• Ensuring systematic progress of every project right from the word ‘go’
• Facilitating communication with the peers, colleagues, stakeholders and team members even from remote locations

Considering all these benefits the range of software offers, it’s obvious that there’s hardly any necessity to rework on a module. Thus, project management software helps successful winding up of construction projects right within scheduled deadlines.

Just like any other commercial sphere, the construction industry too expects you to thread in the latest version of technology to achieve greater heights of success faster. However, you should have realistic expectations from technology to help your business grow bigger. Use the web to update your knowledge pool about the benefits these virtual resources offer. This will help you stay at-par with the best performers in the industry.