West Adams / Jefferson Park / Expo Park Area – Pricey Homes but no Vibe (Santa Monica: real estate, 2014)

[wolfft]

West Adams / Jefferson Park / Expo Park Area – Pricey Homes but no vivbe

I don’t understand how in LA there are homes being sold for up to $800k in areas which has nothing discernible going for them. I’m referring specifically to the West Adams, Jefferson Park and Expo Park areas. In those areas homes have shot up in price over the past few years. I admit there are nice craftsman style houses which I would love to live in. However the main streets – West Adams, Jefferson, Western etc. have no shops, restaurants bars or cafes. And if I’m going to pay $800k then I want a house in an area in which I can walk to shops, restaurants etc. If the houses were $400/500k then I would accept the cheap price in exchange for the area.

In London ‘gentrified/ing’ areas almost always have amazing bars, restaurants and shops popping up through the weeds but not here. Why is it that in LA the vibe doesn’t follow the money? And in London even in areas that aren’t gentrifying you have the odd cool old bars/pubs and a cool atmosphere on the streets. But again there’s nothing here apart from Popeye’s!

Also why is the area near USC and Expo Park museums have nowhere to drink or eat. In any European city an area near a University would be full of bars, cafes and shops. And also in any European city the areas near museums would also be full of people eating/drinking. But as soon as you leave Expo park/USC campus there is absolutely nothing!

It makes no sense to me (someone who moved here from London) can someone please explain? And will this change?

[ryanms3030]

LA is not London and LA isn't even like any other major city in the U.S. It's geographically spread out, much of it is not walkable and public transportation is about 50 years behind other major cities. Those areas in particular are in early stages of gentrification and surrounded by some of the roughest neighborhoods in LA. But they are in good geographic locations for people that work on the west side, dowtown, west hollywood, UCLA etc where real estate is much more expensive. So if someone works in Santa Monica and doesn't have kids and wants to buy a house it's a good option where they can and not have to commute 90 minutes or 2 hours each way. And the riff raff will eventually be moved out and those houses could be great investments long term but it will probably take longer then other areas to gentrify because those areas are mostly single family homes are owned by families that have been there for decades and you can't force all of those people to sell but eventually when lower income people who own houses out right or have mortgages on houses they paid $150k for can sell them for $1 million they will start leaving

[Kings Gambit]

Originally Posted by wolfft

West Adams / Jefferson Park / Expo Park Area – Pricey Homes but no vivbe

Those homes are expensive because they are in the "Historic" part of the city and those homes are considered "historical" because of their craftsmanship. They dont make them like that anymore.


These are some BEAUTIFUL homes:

https://a1.muscache.com/locations/up...e-devon257.jpg

http://www.slate.com/content/dam/sla...l-original.jpg

http://i.huffpost.com/gadgets/slides...02707_free.jpg

I think they are worth every penny (perhaps even more) than what they are asking for them. They have also gotten even MORE popular because of some tv show that uses one of the houses as its setting.

[Taiko]

It is the combination of a central location with a new generation of white people returning to areas that their grandparents fled from. Soon the discount that you get because black senior citizens own property there will be gone

[socal88]

It also makes no sense to me as those are higher crime areas with few amenities within walking/short driving distance. Those have been historically lower income areas that do not attract the types of businesses (bars, restaurants, upscale shops) that demand customers with disposable income.

Unfortunately, LA isn't quite an urban city like London. It's more a collection of neighborhoods with both urban and suburban elements. In LA, you don't quite see as much mobility as you would in London where someone on the west end could easily travel to a cool new bar in Shoreditch via the Tube. I spent a summer in London and was amazed how easy it was to get to all parts of the city at pretty much any time of the day. Plus, the walking kept me in good shape. LA just isn't as interconnected where you can move from Point A to Point B to Point C in an efficient manner unless you're driving at off peak traffic hours and are going to locations with ample parking.

If you go Downtown, around Hollywood, or parts of West LA, you'll have neighborhoods where you've got great bars, restaurants, and shops within walking distance and some energy on the streets.

For better or worse, areas like south LA and north LA (the San Fernando Valley) are more suburban and bear little to no resemblance to the city atmosphere you'd find in London. It's mostly homes and some apartment complexes with strip malls every few intersections and an occasional larger shopping center.

As LA continues to attract folks, you're starting to see the city develop more into a more typical urban city. Developers are building new structures to accommodate higher density (e.g. more apartment buildings) and there has been a lot of rail construction to improve public transport. The population has gotten to a point where LA needs to become a proper city.

[capoeira]

Originally Posted by wolfft

However the main streets – West Adams, Jefferson, Western etc. have no shops, restaurants bars or cafes. And if I’m going to pay $800k then I want a house in an area in which I can walk to shops, restaurants etc. If the houses were $400/500k then I would accept the cheap price in exchange for the area.


It makes no sense to me (someone who moved here from London) can someone please explain? And will this change?

In California the less walkable an area is, the more expensive it is. Just look at homes over three million dollars. Most are isolated from the riff-raff and have very low walk scores. Being close to shops and restaurants is a negative for many people because of the increased traffic, noise and crowds.

[Astral_Weeks]

Originally Posted by capoeira

In California the less walkable an area is, the more expensive it is. Just look at homes over three million dollars. Most are isolated from the riff-raff and have very low walk scores. Being close to shops and restaurants is a negative for many people because of the increased traffic, noise and crowds.

I have to disagree. Pedestrian friendly neighborhoods are in high demand in LA and people pay a premium for it.

In L.A., a walkable neighborhood comes at a price - LA Times

Also, price per square foot may be a better measure.

[Astral_Weeks]

Originally Posted by wolfft

West Adams / Jefferson Park / Expo Park Area – Pricey Homes but no vivbe

I don’t understand how in LA there are homes being sold for up to $800k in areas which has nothing discernible going for them. I’m referring specifically to the West Adams, Jefferson Park and Expo Park areas.

It makes no sense to me (someone who moved here from London) can someone please explain? And will this change?

A few things: 1) as one poster noted, many of the homes in these areas are "historic" and have a charm/character that is unique. For someone who lived in London, it probably sounds like a joke to call anything in LA "historic" but you get the picture.

2) In addition, particularly in West Adams, many of the homes are quite large so the $800,000 upper price range you quote is for a much larger home you'll get in say West Hollywood or Santa Monica for the same price point. Again, price per square foot is probably a bargain in West Adams, etc.

3) Plenty of things going for these areas: Expo Line, USC is a vastly improved school which is going through a major fundraising campaign and will likely get even better over time. The USC Village is a massive investment in the area. Yes, retail/bars are currently lacking...but major investments are occurring.

[seain dublin]

Originally Posted by wolfft

West Adams / Jefferson Park / Expo Park Area – Pricey Homes but no vivbe

I don’t understand how in LA there are homes being sold for up to $800k in areas which has nothing discernible going for them. I’m referring specifically to the West Adams, Jefferson Park and Expo Park areas. In those areas homes have shot up in price over the past few years. I admit there are nice craftsman style houses which I would love to live in. However the main streets – West Adams, Jefferson, Western etc. have no shops, restaurants bars or cafes. And if I’m going to pay $800k then I want a house in an area in which I can walk to shops, restaurants etc. If the houses were $400/500k then I would accept the cheap price in exchange for the area.

In London ‘gentrified/ing’ areas almost always have amazing bars, restaurants and shops popping up through the weeds but not here. Why is it that in LA the vibe doesn’t follow the money? And in London even in areas that aren’t gentrifying you have the odd cool old bars/pubs and a cool atmosphere on the streets. But again there’s nothing here apart from Popeye’s!

Also why is the area near USC and Expo Park museums have nowhere to drink or eat. In any European city an area near a University would be full of bars, cafes and shops. And also in any European city the areas near museums would also be full of people eating/drinking. But as soon as you leave Expo park/USC campus there is absolutely nothing!

It makes no sense to me (someone who moved here from London) can someone please explain? And will this change?

Than go back to London mate.

As annoying as people from back east and the midwest are when they start to whine about LA, it's really annoying to hear a foreigner like yourself do it.

I know someone from Germany who also whined like you, but they stayed for years, actually overstayed on on a student visa.

Now I have been to London and love the Brits, but if I moved there I wouldn't be like you.

LA is not London, never will be. If you don't like it here go back across the pond.

Cheers.

[pwright1]

Honestly, if I were to buy a home it would be in West Adams. I love the area. It's not about being within walking distance to all the cool restaurants, bars and coffee shops. To me it's location is in close proximity to DTLA, USC, Hollywood, the beach, the airport, the 10. Even light rail is close by. The homes are beautiful and historic. The people are nice and it's peaceful. The location is great imo.