Just announced last week by our CEO Robert Reffkin - the company's mission statement:
Our mission is to help everyone find their place in the world
We're a passionate team of engineers, real-estate professionals and business people making it easier to find a great place to live.
About Compass
We're excited and proud to be part of this company. This is not real estate as usual.
Hiking boots or SUV vehicle required to experience this secluded Urban Homesteader property. A rare opportunity to buy an inconspicuous farmstead in the heart of the city. This is self-sufficient living at its best. Located atop a private hill neighboring the recently protected 20 acre El Sereno open space and hiking trails known as Elephant Hill. The three parcels total a half acre. Simple pleasures include a galley kitchen, a fully functioning wood burning fireplace and downtown views to write home about. Only one neighbor to the east, the property currently hosts 5 goats, chickens and a small bog with carp. All compliant with the Los Angeles ordinance for domestic livestock. Tons of potential for a future orchard, grey water systems and rain water capturing. Viewings are to be arranged by appointment only as access is off of a non-improved city paper street. Aerial videos included
These days, seven in ten college graduates leave school with some amount of debt - nationally, that totals about $1.1 trillion as of last year. With this kind of debt, it's hard not to imagine that student debt has an affect on the housing market - after all, those are all potential first time home buyers entering the "real world" with a lot of debt.
And the concern is just that - the number of first time home buyers is historically low: fewer than 30% of all home sales in the past six months were first time buyers, compared to the 40-45% that it normally is. Another contributing factor to the overall problem is that wages aren't rising as fast as the student loan burden is.
Additionally, first time home buyers (not just those with student loans) aren't showing up in the numbers because of the overall health problems of the economy, and possibly due to the increases in home prices we saw last year in cities like Los Angeles. We need those first time home buyers; if they aren't coming in at the bottom level (buying those first homes), the market can become stagnant because then there's noone for the "middle" to sell to as they try to move up.
This weekend is full of some great open houses in Northeast Los Angeles, including the neighborhoods of Mount Washington, Silver Lake, Los Feliz, Highland Park and Eagle Rock on Sunday. Check out these great open houses on Sunday, February 16 from 1-4:00 pm. For an interactive map of these listings, click here.
Listing agent: Konstantine Valissarakos & Richard Yohon
Listing agent: Brian Moore & Dan Mancinielli
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