But Los Angeles Real Estate is VERY different!! And that’s why anyone who can afford to buy and hold as much property as they can in Los Angeles should do so – this is the most stable and profitable retirement that you will ever have. (Trust me – I’ve been fortunate enough to have bought a condo back in 1985 and held on to it until 2005. Then I sold it for a single family home and 2 other properties.)

In The Summer of 1996, here are some examples of where home prices were in Los Angeles:

Silver Lake: You could buy a perfectly done 3 bedroom 2 bath character Spanish in the best part of Silver Lake (Moreno Highlands) for $300,000.

Mt. Washington: You could buy a cute California Bungalow 2 bedrooms/1 bath in the prime top part of Mount Washington with great views and a nice yard for $150,000.

West Hollywood: You could buy a 1400 sq. foot modern townhome with 3 bedrooms/ 2 and a half baths for $125,000.

THAT WAS REAL ESTATE IN THE SUMMER OF 1996. Are we back to those prices?? NOT EVEN CLOSE!

Today, the Silver Lake house described above is about $950,000. The house in Mt. Washington is about $500,000 and the West Hollywood Townhouse is also about $500,000. In the last 2 years, prices have fallen, there’s no doubt about that, but not to the levels that the stock market has fallen. Depending on the area, prices have generally fallen back to where they were in 2003-2004.

Even in this down market, Los Angeles Real Estate continues to be a safe and profitable investment, especially compared with other more liquid investments. If you own Real Estate in Los Angeles…bravo!!

If you don’t …. WHAT ARE YOU WAITING FOR????

This is a very unique time in housing and it doesn’t happen very often – interest rates are rock bottom and prices are as well. In the 80′s and 90′s, when prices dropped, interest rates were above 10 percent on average. The stars don’t line up like this very often!! Money AND houses are cheap. Don’t waste this once-in-a-lifetime opportunity to invest in real estate