Northeast Los Angeles (NELA) Art Gallery Night

As Northeast Los Angeles communities experience greater levels of regeneration and gentrification, the NELA art scene is reaching new levels of notoriety and popularity.

While Eagle Rock is a community long known for being “artsy”, the flood of new and younger homebuyers are populating neighboring communities like Highland Park and Mt. Washington. And judging from the range of successful businesses also sprouting in and around town, they enjoy coffee, micro-brewed beer, vegetarian food and … art. Small, independent art galleries are surging in popularity.

Though some art galleries have been around a while, most have appeared since the epic housing market that made homes in highland park a safe and sure investment guaranteed to bring about a healthy return. Mt. Washington homes have been highly sought after. As homebuyers have remodeled their homes, several have found themselves in the local art galleries looking for interesting art with which to decorate their homes.

North East Los Angeles (NELA) hosts a “Second Saturday Gallery Night” once a month, put together by NELAart. NELAart is a collective of art galleries and organizations whose aim is to promote the thriving arts community in NELA. This night is a self-guided tour of the artist-run project spaces, galleries, and non-profits found in Eagle Rock, Highland Park, Glassell Park and Cypress Park communities. Here are seven popular galleries that are filled with fascinating displays of art.

The MorYork studio is full of art built with recycled material. Clare Graham is the mastermind behind these works of art. His displays range from chairs and tables built with dominos to lounge chairs made of soda cans. His bottle cap urns and tin can mirrors bring creativity and green thinking to a new level.

The Avenue 50 Studio found in Highland Park is a studio inspired by Latin Chicano culture. The citizens of Highland Park are primarily of Latin descent, and Avenue 50 Studio is committed to showcasing this ever growing, established culture. People of color who are not yet represented in mainstream galleries display their art here.

The artists at Matters of Space specialize in building custom furniture in order to feed their consumer’s inner creativity and personal taste. Matters of Space designs an assortment of furniture for residential places, restaurants, and businesses. They also put on showcases displaying art from designers and artists around the world.

Public Fiction is a gallery that renews its topical series every 3 months. Public Fiction is one part physical space and one part print work. The physical site is stocked with art installations, performances, and happenings on their current topical series. The print work combines pieces of the installations with new contributions to produce a document to complete the topical series.

Museum & Crane is a private art gallery located in Mt. Washington. This is a backyard gallery, which is invite only to create an intimate environment to display contemporary art in all forms. This space assimilates live music and multi-disciplinary performances with art exhibition to generate a magical atmosphere in which artists and friends can inspire and collaborate together.

Leanna Lin’s Wonderland is a playful jewelry studio, shop and art gallery in Eagle Rock. Leanna combines modern and retro designs of jewelry, which can be found, on display and for sale in the back of the store. Leanna also hosts pop-up events and workshops on how to create unique, beautiful jewelry. This is a great idea for a private party or get together.

An artist and his three sons established the Judson Studios of Highland Park in 1897. The Judson family proudly continues to run this studio today. Judson Studios produces original, hand crafted stained, architectural and leaded glass artworks. They can create glass artworks in windows, signs, domes, fine art pieces, and skylights.

NELA is full of unique, individual art galleries and shops. Attending the Second Saturday Gallery Night is an opportunity to support our local artists and enrich ourselves in the art culture of our community.

“Fixer Uppers” and FHA 203(k) Program: What’s the Deal?

As buyers in Northeast Los Angeles neighborhoods and districts like Highland Park, Glassell Park and Mt. Washington are learning, buying fixer uppers can be a wise decision.

“Fixer-Upper” homes are a great opportunity for potential homeowners to sink their teeth into a deal. Fixer-Uppers are houses set at a cheap price, but they need a lot of internal work. Unfortunately, the new homeowners have to pay for the remodeling out-of-pocket because the loan does not cover renovations. Therefore, if a new buyer does not have extra cash, they need to apply for loans with high interest rates in order to make their home livable. Luckily for them, the new FHA 203(k) program was created to help.

The federal government developed the FHA 203(k) loan in order to fund buyers with a loan that will help them purchase a fixer-upper and receive funding for repairs. For example, a run down house is on the market for 450K. The whole house needs a make over with new paint, carpet, and some wall repair work. A FHA 203(k) lender will investigate the home and determine that 100K is required for the repairs and will grant a loan for 550K. Once the loan is issued, the government allows a contingency reserve of 20% that will grant you more money if the repair fee exceeds the initial estimated cost. They also permit approximately 6 months worth of mortgage payments so that the buyer can live in a separate location while remodeling their home.

In older Northeast Los Angeles neighborhoods that run the gamut from small, inexpensive turn of the century cottages to fancy, expensive newer and midcentury homes, buyers are snatching up these loans. For instance, homes for sale in Mt. Washington often carry a stock of lower-priced homes needing a complete renovation. The same is true of homes for sale in Glassell Park, another older neighborhood a stone’s throw away from Mt. Washington.

Not all types of repairs are approved by the FHA 203k mortgage loans. There are two different types of loans. The basic 203(k) exists for properties that only need structural repairs like a new room or roof. The second, streamlined 203(k), is assigned when houses need non-structural repairs like painting. These are the repairs covered by the 203(k): decks, remodeling the kitchen and bathrooms, new siding, flooring, plumbing, patios, another story on the house, and central air and heating. A “luxury” improvement like adding a pool or basketball court will not be covered in the 203(k).

The basic and streamlined versions of the 203(k) each have their own spending limit. The FHA comes up with two numbers: 1) the cost of the property plus estimated repairs and 2) 110 percent of the property value once the repairs are complete. The FHA will grant the buyer the lesser of these two numbers. The benefit of streamlined loans allows you the purchase price of the home plus a maximum amount of 35K.

So popular and important is this program that it has been credited for helping regenerate older neighborhoods like Eagle Rock and neighboring Highland Park. So many homes in Highland Park have received facelifts that the entire area is going through a gentrification process that is raising home values.

These loans are beneficial to buyers because they allow funding for someone to buy a home and make repairs. The down payment is a minimal price and can be given by a family member, employer, or organization. Most 203(k) loans have low interest rates and discount points, however, these do vary depending on the lender. Unfortunately, not all properties qualify. In addition to that, there is a limit on funding and the application process for the loan is tedious. However, this loan is a great opportunity for people to make their dream homes come true.

Los Angeles Housing Rental Scams: Don’t Become a Victim

With home prices high in Los Angeles, renters are finding it challenging to find a good rental, the right rental and now, one that isn’t a simple scam.

The search for housing can be tedious and frustrating. In addition to the hundreds of available properties, one has to also be aware of fraudulent “landlords” whose sole purpose is to scam and steal. These “sellers” claim that they are unavailable to show the house and that they will mail the keys once they have received a deposit. However, once they receive the payment, they disappear and leave the prospective tenant empty handed.

There are many possibilities for various scams. For example, an owner with a foreclosed house may put up their property for rent and pretend that the house is in good standing. As soon as the tenant is all moved in, they will disappear with the money. Weeks or months later, the new houseguests are without a home and money when they find out that their new residency is foreclosed. Other frauds may break into a house and show it to potential renters as their own. Once the money exchange is complete, the fraud disappears without a trace.

A young woman, Sheila, recently reported to the Los Angeles Times that she was looking at a couple of homes in Atwater Village after seeing ads in Craigslist. The “owner” told her the rear door was open, that he couldn’t meet with her and that she should inspect the home. She liked what she saw and agreed to pay six months in advance for a lower rent plus a security deposit. She left a money order and her application at the house only to find later that the so-called “owner” didn’t own the home.

Chet, a young father of one, spoke to a homeowner who claimed to have two homes for sale in Altadena. The “owner” set up a “rent to own” contract with Chet whereby he could live in the home with his family, make high rental payments and end up owning the home. Nine months in, the “owner” had disappeared and the bank had foreclosed on the property, forcing Chet and his family out.

There are many proactive steps to be taken in order to stop these fraudulent acts. One of the most efficient tools to utilize is a website titled “CheckYourLandlord.com”. This website is inexpensive and full of detailed information regarding landlords, their history, and available properties. However, there are many “free” precautions that can be taken in order to avoid fraud.

The easiest way to avoid scams is to ask for identification. If someone refuses to flash their driver’s license or identification, their credibility is minimal. Some people worry about offending their seller, but this is a routine procedure in high-end business transactions.

Once the seller’s identification is cleared, it is necessary to ensure that they are the correct owner and that the property is not in foreclosure. This information can be found online on the county’s website. The assessor’s office or recorder of deeds will have the correct information on the owner and any “lis pendens” against the property.

The next step is to ensure that the owner is not stuck in any financial trouble. There are many facets to check. There may be unpaid dues filed by the homeowners association or a government jurisdiction from unpaid property taxes. If previous tenants filed any civil cases or criminal actions against the owner, this is evidence that the owner is not in reliable financial standing.

Finally, check to see if there is a lien against another property with the same owner. This could indicate that the owner is struggling financially and may be trying to con money. If this information is not found online, any county courthouse will have records of property listings and owners.

All of this work will not guarantee prevention in fraudulent sellers. However, it does increase the chance of stopping them before they steal your money. In the end it is better to spend time researching a business partner as opposed to handing over free money.

Pasadena, CA Real Estate: Victory Park Neighborhood

As of the last quarter of 2014, Pasadena, CA homes remain a hot commodity in the real estate market. Pasadena real estate, in general, has proven itself to be recession-proof and homes for sale in Pasadena have consistently retained their value through the ups and downs of the market. For that reason, Victory Park is one particular neighborhood that has seen a lot of action from homebuyers and home sellers alike.

Victory Park is an urban neighborhood located in East Pasadena. It is located south of New York Drive and north of Orange Grove Boulevard with Altadena Drive to the west and Sierra Madre Boulevard to the east. Victory Park is named after a beautiful park that resides in the middle of this unique neighborhood. This park was originally built as a military airfield. The main headquarters to the Internet provider, Earthlink, reside in Victory Park.

Victory Park is an educational district full of schools and learning centers. The two schools are Wilson Middle School and Pasadena High School. The Marine Corps has a Reserve Training Center there. A private school called Assumption Middle School can also be found in this neighborhood.

The average real estate price of Victory Park is $707,935, which is higher than 81% of the neighborhoods in California and 96.6% of all neighborhoods in the United States. The median rental price in Victory Park is $1,920, which is higher than 73.8% of all neighborhoods in California.

Real estate offerings in Victory Park are made up of medium to small sized single-family homes and apartment buildings. Medium sized homes range from three to four bedrooms while small homes can have one to two bedrooms. The real estate in Victory Park is mostly owner occupied. Many of the homes in Victory Park were built between 1930-1970. Victory Park has a vacancy rate of 11.4%, which is higher than 60.3% of American neighborhoods. These statistics suggest that there is little demand for rental housing in Victory Park or that college students or vacationers occupy much of the housing seasonally.

Approximately 61.1% of the residents in Victory Park are married and around 54% of the residents are between the ages of 30-64. Victory Park is in the top 15% of the highest income neighborhoods in America. Only 8.9% of the minors in Victory Park are living below the federal poverty line, which is lower than 65.2% of American neighborhoods. Approximately 55% of the population has jobs in management, professional, or executive careers. Following that, there are 18% of the residents employed with service jobs like fast food restaurants. About 17% of the population holds careers in clerical, assistant, and tech support positions. Finally, 10% of the residents have jobs in manufacturing and laborer occupations.

Victory Park in Pasadena, CA is considered a great neighborhood to raise a family. The houses are high quality and the neighborhood is quiet and safe. Victory Park is considered a melting pot with the dominant ethnicity being Armenian. The other common ethnicities found in Victory Park are Mexican, Asian, and English.

Those wanting to both buy and sell homes in Pasadena, CA, are advised to perform their due diligence and locate a Pasadena real estate agent who is both licensed and certified and who specializes in representing homebuyers and sellers.