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Old 07-24-2013, 10:30 AM
 
Location: Los Angeles (Native)
25,303 posts, read 21,463,616 times
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Interesting story. The funny part is that back in the 90s these hipsters wouldn't have wanted to live in Echo park. I guess also hipsters weren't really a "thing" in the 90s..

With downtown having improved so much especially , plus los feliz/silver lake ,etc . Now it's that part of L.A that's considered cool. Before it used to be that West L.A ,Santa Monica , West Hollywood were the really cool areas. But that's not true anymore. Mostly because of prices just going super high.

I am sure that the area will be seeing a lot of newer homes or totally remodeled homes.

Personally I think Echo Park is one of the bubble markets in L.A.

Lot's of flipping going on where pretty recently bought homes are being sold or trying to be sold for double or more

Here are examples: look at last sold price
301 North MOUNTAIN VIEW Ave, Los Angeles, CA 90026 | MLS# PW13128586 | Redfin
Mar 25, 2013 Sold (Public Records)
$247,000 Now asking 499,999!
1555 COUNCIL St, Los Angeles, CA 90026 | MLS# 12177615 | Redfin
Mar 29, 2012
$180,000 Now Asking 449k!

They are more of these examples. How could someone buy someone like that and not feel like a sucker? It cost money to rehab a property..but it doesn't cost THAT much... plus they didn't do anything spectacular with them.

They look clean, but quite basic . Definitely not high end stuff.
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