WATTS Home Values Appreciated More Than 40 %
Watts was the once predominantly African American community, which gained international notoriety during 1965 riots, saw resale-homes values increase by more than 40% last year, according to Data Quick Information Systems, a real estate research firm. Countrywide median rose 24.8%.
Fueled by demand from latino home buyers, Watts is on target this year to fulfill analysts' predictions that the Southland entry level market still has room for hefty appreciation. A comparison sales in August for this year and last, the latest period for which figures are available, showed an increase of 41.3% in the price of single family resale homes to a median of $ 325,000.
The prices have made it a hot spot for property flippers. Nearly 10% of Watts buyers this year have resold within three months, compared with an average of 3% throughout Southern California during the last decade.
In today's Watts, latinos make up the majority. African Americans leaving Los Angeles for the Inland Empire, Palmdale, Lancaster and the Southern United States.
Watts was the once predominantly African American community, which gained international notoriety during 1965 riots, saw resale-homes values increase by more than 40% last year, according to Data Quick Information Systems, a real estate research firm. Countrywide median rose 24.8%.
Fueled by demand from latino home buyers, Watts is on target this year to fulfill analysts' predictions that the Southland entry level market still has room for hefty appreciation. A comparison sales in August for this year and last, the latest period for which figures are available, showed an increase of 41.3% in the price of single family resale homes to a median of $ 325,000.
The prices have made it a hot spot for property flippers. Nearly 10% of Watts buyers this year have resold within three months, compared with an average of 3% throughout Southern California during the last decade.
In today's Watts, latinos make up the majority. African Americans leaving Los Angeles for the Inland Empire, Palmdale, Lancaster and the Southern United States.
Alberto Pacheco
Realtor Calbre Lic 01200694
818 481 9211
Keller Williams Porter Ranch
Real Estate Consultant
http://www.granadahills.kwrealty.com Real Estate News, Mortgages, Trends
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