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Moving to Los Angeles: For Millennials (1980-1994)

May brings a new slew of college graduates into the Los Angeles marketplace, most of who are millennials. This generation has grown up in a particularly tumultuous time period in the US, with various costly wars, two financial collapses, high unemployment and underemployment, and record-high student loan debt. These burdens have impacted the way many millennials approach financial decisions seen as staples of economic security like buying a car or a house. But luckily the economy is looking up for this generation of 20-30 somethings, and with that improvement they might consider investing in real estate, giving a boost to Los Angeles’ slowing housing market.

The employment rate for recent college graduates is up 1.7 percent with an average salary increase of 3.7 percent for students who majored in science, technology, engineering and mathematics.  This puts 2013 graduates at an employment rating of 67.4 percent. With larger salaries comes more spending power, so long as students manage their student loans appropriately. One way that this generation is increasingly doing this is by moving back home to save rent money toward a down payment.

Houses are large investments and that means new home owners, to make a potential profit on that investment, will need to stay put for about five years. The good thing is by starting a new career, if millennials decide they want to work the corporate ladder, staying put for a few years makes sense, financially and career wise.

Alongside the increased employment and marginally higher salaries comes an increase in consumer confidence. The US housing market is at a six year high for consumer confidence, as the market growth and prices continue upward.

For people considering a new job in the Los Angeles area, they might also be surprised about how much the city actual offers in term of community and free things to do.

LA Weekly magazine has a great list of 30 free things to do in the Los Angeles area. Here are five of the best ideas:

  • “Ascend into the twisted, metal ruins of the circa 1912 Old Los Angeles Zoo at Griffith Park, and stare in horrified awe at the almost ancient lion’s dens and monkey cages. They really kept animals in there?!”
  • Sonos Studios’ listening parties and interview sessions are not only free but also have free booze.”
  • “Climb deep into a bizarre relic of LA history along 512, into the ruins of a secret 1930’s Nazi compound known as Murphy Ranch.”
  • The Ballona Creek Bike Path is completely separated from the street grid and runs almost seven miles from National Boulevard in Culver City to the Pacific Ocean at Marina del Rey, where it links up with the beachfront path.”
  • ·         Climb the daunting 133 Music Box Steps, named after Laurel & Hardy’s 1932 short film, in which a raucous piano crashes onto Vendome Street. Stairway between Descanso Drive and Vendome Street at Del Monte Drive, Silver Lake.

 The true question is will the Millennial step up to plate to fill in the void of the current decline in real estate sales volume.  According to the Census LA in the decade between 2000 and 2010 (97,801 ppl), Los Angeles had the smallest increase in population since 1890-1900 (52,084).  If this trend continues LA will have lost population by 2020.

Year          Population       Increase      Percent Increase

1990         3,485,398        518,548       17.47 %
2000         3,694,820        209,422        06.00%
2010         3,792,621          97,801        02.64%

Let’s hope that the trend does not continue.  In 2010 most Millennials were coming of age.  They were finishing college, starting careers, finally starting to save money and/or starting companies.  Though statistically speaking the 2020 census track looks bleak; the introduction of the Millennial pent up demand should have a profound impact on the population and home ownership in Los Angeles.

One thing is for certain in the LA market developers have adjusted to this market share by more hip and modern rehabs going on throughout.  The local real estate companies are adopting this young and hip modern attitude evident by their marketing strategies (logos, technology etc.) With all the construction projects of multi-unit housing currently happening in the City there will need to be Generation Y’s coming out from the shadows of their baby boomer parents to be ready to demand all the this supply already in the works. Therefore this will hopefully positively effect population growth in 2020.


Sincerely a Millennial,

Jonathan Barr

Director of Acquisitions.


Please feel free to comment and begin a dialogue regarding the issues addressed in this Blog.

One Response to “Moving to Los Angeles: For Millennials (1980-1994)”

  1. May 21, 2014 at 8:58 am, jbarr said:



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Once you have determined you need to sell your home, you probably know the traditional options available. You could sign a listing contract with a Real Estate Agent and hope for the best. But you should prepared for the worst, and prepare for a home sale process that could take 6-months to 1-year with no guarantee of success. Of course, after repairs and inspections you must actually list the house and prepare for an avalanche of showings, low ball offers, negotiations and tens of thousands of dollars in real estate commissions. Alternatively, you could try to go the For Sale By Owner (FSBO) route and attempt to list, negotiate and close the home transaction on your own. Both of these options often take a great deal of time, especially in a sluggish economy and a slow housing market. The hassle involved is enormous and there can be significant liability.

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Los Angeles area cities where we buy homes:

  • Highland Park
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The S&L Management team has extensive experience working in all of these areas. This familiarity with specific neighborhoods and subdivisions means better understanding of your situation and better knowledge of your property value. If you own a home or real estate in any of these Los Angeles communities, do not hesitate to request an offer.

Why is selling for cash a good option?

There are countless pros to selling your house “as-is” to a buyer like S&L Management. You may need to sell your house quickly, and such a cash sale enables you to avoid the lengthy hassle of placing your home on the market. After all, you could end up waiting months as you show the house again and again without a successful buyer. These days, finding a buyer is just the beginning! That buyer has to make it through the lending process. Forget qualify for a loan, that is simple. Gaining loan approval and actually funding is increasingly rare.

Maybe you want to avoid the high cost (in time and money) required for repairs and renovations necessary to make your house “sellable.” When you list your home on the market in the conventional manner, you must be prepared to pour time and money into your property to prepare for viewing by potential buyers. The Real Estate Agents will require a commission fee which can amount to tens of thousands of dollars.

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If your home is in foreclosure but the foreclosure has not yet been finalized, selling your home quickly could prevent “foreclosure” from appearing on your credit report. This may allow you to recover your good credit in less time. Whether you are behind on loan payments, facing foreclosure, or underwater, a fast sale could be in your best interest.

What our team looks for in homes we purchase for cash:

  • Property in any condition
  • Single family or multi-family residence
  • Commercial
  • Illegal additions
  • Fire/water/mold damage
  • City violations
  • Vacant or occupied properties
  • Priced between 200,000 - 500,000
  • Areas of gentrification
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What should I expect from the cash-sale alternative? You can expect a short and simple process. If you request an offer, S&L Management promises an immediate response with no hidden fees, no requests for repairs and a flexible move-out date. S&L Management promises speed, efficiency, trust and credibility. We buy your home as-is and put cash in your hand: it’s that easy.

Why S&L Management? The difference is in personal and reliable service. S&L Management is a minority owned company with a combined real estate experience of over 50 years. We have extensive familiarity with the areas they work with, and true understanding of Los Angeles counties, neighborhood and streets means better knowledge of your specific situation, no matter how complicated.

We are not slick, faceless investors but real people who live locally and genuinely seek to help homeowners with a win/win solution. 

Meet our team at S&L Mangement:

  • Edward Solis, Founder & President
  • Jonathan Barr, Director of Acquisitions
  • Christina Marchis, Purchase Coordinator

 S&L Management prides itself on improving communities through improving property values. We understand that you are a unique individual or family in a unique circumstance, and this drives us to get you a fair deal in the most efficient time possible. You can expect an immediate response with a competitive offer within one day. Our combination of extensive experience and a technically advanced system allows S&L Management to determine the worth of your property and compensate you fairly for it, in cash, with no hidden fees, commissions or extra requirements.

Selling homes for cash is becoming a popular option in today’s real estate market. It’s fast, and it allows you to get an unwanted property off your hands when you are facing a looming deadline like a pending foreclosure or a job transfer. If you have decided this is the best option for you, then make sure you also choose the company that is right for you. Beware of scams; some helpful ways to identify potential fraud or scams. S&L Management promises complete trust and credibility throughout any transaction, no exceptions.

What S&L Management offers:

  • CASH for your home
  • Regular closing cost
  • No commissions
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  • Financial strength
  • A short and simple process
  • A fair price for your property
  • A flexible move-out date

What other situations lend themselves to selling a Los Angeles home quickly to an investor for cash? Life throws some tough curve balls, and handling an unwanted/unneeded property during an already stressful time of your life can be difficult, draining, and feel downright impossible. Whether you just lost your job and cannot pay your mortgage or feel trapped in mortgage terms that seem unfair or troublesome, S&L Management offers an option that is clear-cut and puts money in your hand when you need it. In cases of divorce, retirement, downsizing or many other situations, selling your home as-is could take a tremendous burden off your shoulders and make your next move or phase of life seem feasible sooner than you could have imagined. S&L Management recognizes the complexity and variance between different situations, and they will work their hardest to ensure that your circumstances are addressed personally and reasonably.

If you recently inherited an unwanted property from a loved one, selling it for cash as-is can save you months of time and thousands of dollars in repairs and navigating the real estate market. You could have money for that property in your hand in the shortest time possible and skip all the logistics of selling on the market. If you are trying to sell a home you have already vacated, it may cost you more money to fix up the property or to travel back and forth to try to make a sale than it would to sell the home for cash to a real estate investor. S&L Management recognizes that in many circumstances, time is of the essence. If you are liquidating assets to pay bills or facing foreclosure, you will get an offer in the shortest time possible. They can deal with situations including bad tenants, severe damage from fire, water or mold, city violations, and illegal additions. S&L Management will happily make your problems, their problems.

If your situation is:

  • Facing foreclosure
  • Relocation or job transfer
  • Undesirable neighborhoods
  • Divorce
  • Job loss
  • Troublesome mortgage terms
  • Retirement of downsizing
  • Death of a loved one
  • Liquidating assets to pay bills
  • Convenient sale of assets

How do I get the ball rolling? If selling your home for cash seems like the option for you, fill out the detailed sellers application so that S&L Management can have the best opportunity to evaluate your situation and your property so that they can make you the best possible offer.

The more thorough you are in your information and detail, the better the service and solution will be. S&L Management wants to help you get the most out of your property, and they recognize the satisfaction of helping sellers in complicated situations find a solution to their unwanted property problems. Feel free to contact S&L Management with any other questions.