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Metro bike-sharing program launches in North Hollywood

Metro Smart Bikes

Metro’s bike sharing program has arrived in the San Fernando Valley, and its first stop is North Hollywood.

Bicycles are now available to rent using a TAP card from 16 stations sprinkled near the Orange and Red Line stations in North Hollywood and surrounding areas, such as Valley Village and Studio City. 

The 150 bikes rolled out this week in North Hollywood are part of a larger bike-sharing program that Metro has already launched in other parts of the city, including the Harbor area, Los Angeles’s Westside, downtown Los Angeles and near USC.


Metro Bikes installed at Colfax Ave. and Chandler Blvd., just a block away from Horth Hollywood High School on Wednesday, August 7, 2019. 

The “Smart Metro” bike model chosen for the North Hollywood program can be locked to any public bike rack for a convenience charge ($2 if it is within the bike share zone, $20 if outside). There are no extra costs if the bike is returned to a designated Metro bike share station, beyond the cost of the pass to ride. The cost to ride for 30 minutes is $1.75, with 30-day passes available for $17 and a year-long pass costing $150. A map of the stations can be found here. Metro also has a Bike Share smartphone app that provides information on the location of the closest bike stations.

Originally posted by dailynews.com. Written by Elizabeth Chou. Photos by Mike Meadows.

What $1.5 million buys right now in three of L.A. County’s top school districts

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For those looking to move before the school year starts, here’s a look at what roughly $1.5 million buys right now in three of L.A. County’s top-rated school districts: San Marino Unified, Arcadia Unified and Palos Verdes Peninsula Unified.

SAN MARINO: Character and curb appeal are a few draws of this 1950s ranch, which opens to a park-like backyard with tiered gardens and an in-ground spa.

Address: 2225 S. Los Robles Ave., San Marino, 91108

Listed for: $1.568 million for three bedrooms, two bathrooms in 1,782 square feet (9,000-square-foot lot)

Features: Lattice windows; living room with corner brick fireplace; remodeled kitchen; sun room

About the area: In the 91108 ZIP Code, based on 16 sales, the median price for single-family homes in June was $2.329 million, up 10.9% year over year, according to CoreLogic.

Hot Property | What $1.5 million buys right now in three of L.A. County’s top school districts
400 Cambridge Drive, Arcadia (Realtor.com)

ARCADIA: A few blocks from the L.A. Arboretum, this property holds a 1950s home, a newly built guesthouse and a swimming pool.

Address: 400 Cambridge Drive, Arcadia, 91007

Listed for: $1.49 million for five bedrooms, six bathrooms in 2,683 square feet (13,503-square-foot lot)

Features: Circular driveway; living room with floor-to-ceiling fireplace; tile kitchen; sliding glass doors

About the area: In the 91007 ZIP Code, based on 16 sales, the median price for single-family homes in June was $1.213 million, down 25.5% year over year, according to CoreLogic.

Hot Property | What $1.5 million buys right now in three of L.A. County’s top school districts
1100 Via Zumaya, Palos Verdes Estates (Realtor.com)

PALOS VERDES ESTATES: This price-reduced property near the beach expands to a spacious balcony overlooking the ocean.

Address: 1100 Via Zumaya, Palos Verdes Estates, 90274

Listed for: $1.449 million for three bedrooms, three bathrooms in 2,288 square feet (10,779-square-foot lot)

Features: Flagstone accents inside and out; stacked-stone finishes; bold living spaces; deck and trellis-topped patio

About the area: In the 90274 ZIP Code, based on 23 sales, the median price for single-family homes in June was $2.094 million, up 5.3% year over year, according to CoreLogic.

Hot Property | What $1.5 million buys right now in three of L.A. County’s top school districts
1722 Hilliard Drive, San Marino (Realtor.com)

SAN MARINO: A colorful courtyard fronts this charming single-story home full of French windows and Spanish charm.

Address: 1722 Hilliard Drive, San Marino, 91108

Listed for: $1.55 million for three bedrooms, 1.75 bathrooms in 1,836 square feet (7,714-square-foot lot)

Features: Beamed ceilings; arched doorways; indoor-outdoor breakfast nook; landscaped backyard

About the area: In the 91108 ZIP Code, based on 16 sales, the median price for single-family homes in June was $2.329 million, up 10.9% year over year, according to CoreLogic.

 
Hot Property | What $1.5 million buys right now in three of L.A. County’s top school districts
226 San Luis Rey Road, Arcadia (Realtor.com)

ARCADIA: Newly renovated, this two-story home on a tree-lined street features an open floor plan lined with maple hardwood and a fenced backyard with a pool and spa.

Address: 226 San Luis Rey Road, Arcadia, 91007

Listed for: $1.59 million for five bedrooms, 3.5 bathrooms in 3,151 square feet (7,787-square-foot lot)

Features: Custom paint; marble fireplaces; plantation shutters; backyard with fruit trees

About the area: In the 91007 ZIP Code, based on 16 sales, the median price for single-family homes in June was $1.213 million, down 25.5% year over year, according to CoreLogic.

Hot Property | What $1.5 million buys right now in three of L.A. County’s top school districts
1721 Via Zurita, Palos Verdes Estates (Realtor.com)

PALOS VERDES ESTATES: Neutral tones and wide-plank floors touch up this remodeled home with a custom-built lounge out back.

Address: 1721 Via Zurita, Palos Verdes Estates, 90274

Listed for: $1.55 million for three bedrooms, 2.25 bathrooms in 2,168 square feet (7,095-square-foot lot)

Features: Covered front porch; kitchen with breakfast bar; master suite with glass shower; second-story balcony

About the area: In the 90274 ZIP Code, based on 23 sales, the median price for single-family homes in June was $2.094 million, up 5.3% year over year, according to CoreLogic.

Originally posted by LA Times.  Article written by Jack Flemming.

Los Angeles has the third largest pool of tech workers on the West Coast

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Los Angeles has the third largest pool of tech workers on the West Coast, after Seattle and San Francisco, according to a report released last week by commercial real estate firm CBRE.

By the report’s count, there are nearly 140,000 employees in the Los Angeles metropolitan area working in “technical jobs,” including software development, tech support, and programming.

That accounts for just over 3 percent of all jobs in the area—a relatively small portion compared to, say, the Bay Area’s 10 percent. The average tech worker in Los Angeles earns $104,000 per year, according to the report. The median household income in LA County, meanwhile, is $69,300.

The biggest names in the industry—including GoogleApple, and Netflix—are expanding in Los Angeles, often building new ground-up offices, but the report takes the entire industry into account, including, for example, software engineers for a healthcare company.

The lucrative industry has made an impact on housing in many LA neighborhoods near its Westside hubs. But the CBRE report looks mainly at office demand, and it highlights how office space for tech companies has become a hot ticket item.

Competition for space has pushed up the cost of renting office space. Now only Manhattan, the Bay Area, and Washington D.C. have higher average office rents than LA, the report says.

Tech companies are looking beyond traditional office space when they’re considering where to put down roots. Many larger companies, like Google and Netflix, are looking to rent up entire office complexes, often before they are even finished.

CBRE’s director of research for LA County, Petra Durnin, tells the Los Angeles Times that of the roughly 3.8 million square feet of office space under construction in the region now, half of it is already leased.

As in the case of Netflix’s leases at new, ground-up projects in Hollywood, the companies are looking for buildings that aim to create an open, flowing environment, with airy, high-ceilinged interiors that bring in lots of natural light and connect to landscaped outdoor spaces, including balconies, rooftop lounge areas, and terraces.

At 14.5 percent, LA’s office vacancy rate is relatively high when compared to some of the other top markets, says Colin Yasukochi, CBRE’s director of research and analysis for the Western Region. (The Bay Area is 6.1 percent, the report says.) LA’s a large area, so the rate will vary considerably depending on where in the city the office is.

A report from commercial real estate firm JLL breaks the LA area into smaller local markets and finds that the most desirable offices in Santa Monica were asking more than $6.60 per square foot on average, while the most sought-after workspaces in Culver City were renting for an average of $4.40 in the second quarter.

Originally posted by la.curbed.com. Written by Bianca Barragan, imagery courtesy of Shutterstock.

Americans’ Powerful Belief in Homeownership as an Investment

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The Federal Reserve Bank (The Fed) recently released their 2019  Survey of Consumer Expectations Housing Survey. The survey reported that 65% of Americans believe homeownership is a good financial investment. Since 2014, the percentage has increased by over nine percent.Americans' Powerful Belief in Homeownership as an Investment | MyKCMThe Fed’s survey also showed that when the results are broken down by age, education, income, or region of the country, more than 55% of Americans in each category see homeownership as a good investment.

This coincides with a recent Gallup survey of Americans which revealed that real estate was their number one choice for the best long-term investment when compared to stocks, savings accounts or gold.

Bottom Line

Americans’ belief in residential real estate as a good financial investment continues to grow as the housing market returns to normalcy.

Have you heard the joke about the earthquake?

Are you earthquake ready_ (1)
…It’s GROUNDBREAKING! ;-P
All kidding aside, living in Southern California it is imperative to be prepared for earthquakes. In light of recent significant quakes, now is the time to ensure that your home (owned or rental) can withstand future tremors. Please take some time to review this checklist and make sure your family has an updated disaster kit readily available. I sincerely hope you’ll never need to use it but implore you to prepare, just in case.
Best, 
Nic

 
Earthquake Preparedness
  • Make sure your home’s foundation has been properly retrofitted for earthquake safety. I’m happy to offer referrals.
  • Ensure that your water heater tank is properly strapped.
  • Know the safe spots in each room away from swinging doors and glass windows.
  • Keep a pair of sturdy shoes next to your bed.
  • Have a secondary exit from upper floors, in case the staircase is blocked, damaged or burning.
  • Secure items in the garage that could fall and block or damage the vehicles.
  • Create a Disaster Plan with a designated meeting place outside the residence and run drills so it can be executed in the dark and under stress.
  • If you are a renter, ask your landlord to confirm that everything is up to date in compliance with earthquake regulations.
Disaster Kit
  1. Water for 3 days (1 gallon per person per day)
  2. 3-day supply of non-perishable foods for people & PETS (freeze dried, canned w/ manual can-opener, and dried foods requiring no cooking)
  3. Flashlight w/ new batteries
  4. Battery-operated or hand-crank radio 
  5. First-aid kit 
  6. Fire extinguisher
  7. Whistle to signal for help
  8. Personal medicines
  9. Tools needed to turn off main utilities (wrench/pliers)
  10. Moist towelettes, garbage bags and plastic ties for personal sanitation
  11. Emergency cash
Visit https://www.ready.gov/build-a-kit for additional emergency supplies.
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