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LOS ANGELES

The city of Angels, or Los Angeles, is a large metropolitan area in the state of California. Often referred to simply as L.A., the city lies on the Pacific Ocean, in the southern part of the state. Los Angeles is the heaviest populated city in the state of California, and the second most in the United States, behind New York City.

Los Angeles Real Estate

One of the hardest hit areas in the US during the economic downturn, Los Angeles real estate is beginning to rebound, with an average home value of $474,100. This figure represents a 26 percent increase from the year over year average of 2012. The average listing price in L.A. is $1,289,407, with a median sales price of $450,000.

Architecture

While the residential architectural styles in the city are diverse, there are several which constitute the majority of domestic homes. Styles of homes include Adobe, Ranch, Mission Revival, Bungalow, Tudo, Storybook, Colonial, Craftsman, Modern, and Italianate. Other common styles in the city of Los Angeles are Modern, Minimal Traditional, and Queen Anne.

Climate

Known for its moderate weather, the city of Los Angeles boasts one of the best climates, not only in the state of California, but the United States. Average lows in the winter months are just 47F or 8.3C, with daytime highs during the same months averaging 68F or 20C. Summer months see daytime highs of 84F or 29C, with overnight lows of 64F or 18C.

Demographics

There are several cultural enclaves in L.A. which include, but are not limited to: Chinatown, Historic Filipinotown, Koreatown, Little Armenia, Little Ethiopia, Tehrangeles, Little Tokyo, and Thai Town. Los Angeles' population is approximately 50 percent white, with Latinos and Hispanics making up 48.5 percent, Asians accounting for 11 percent, and blacks comprising just under 10 percent.

Main Attractions

The largest and most popular attractions in the area are Disneyland, Universal Studios, the Los Angeles Zoo, Hollywood and Hollywood Boulevard, Dodger Stadium, and many world class museums. In addition, the city has several shopping malls, and dozens of tours ranging from bus tours of the city to lot tours of the biggest movie studios in the area.

Transportation

Transportation in the city of Los Angeles is combined of larger than life freeways, with an international airport, some seaports, and a city wide transit system. Residents use much of the public transportation which include a subway, light rail, and buses, as the freeways suffer from substantial congestion.

Economy

There are two predominant forces powering the economy of Los Angeles: entertainment and international trade. However, the city derives a good deal of its economy on aerospace, technology, petroleum, fashion, apparel, and tourism. The city of L.A. is home to six Fortune 500 companies, and boasts a gross metropolitan product of $735.7 billion.

City Planning

Los Angeles is a sprawling city, meaning that it extends just beyond a geographical sphere. It incorporates a unique blend of commercial and residential styles, which can overlap in ways not typical to other American cities. The city continuing grows through redevelopment, recapturing areas that have fallen into a state of disrepair.

CALIFORNIA

Home to nearly one out of eight Americans, the state of California has 38 million residents, making it the single most populated state in the USA. With entertainment and agricultural being the largest economic contributors, along with aerospace, education, and manufacturing. The state of California is one of the most diverse in the USA in terms of landscape, complete with desert, mountains, forests, and oceanside beach. The state spans across a massive 163,696 square miles and counts eight of the fifty most populated cities in the US within its borders.

General Market Conditions of California Real Estate

Single family home values in the state of California has steadily inched up since 2010, when prices fell steeply from the highs of 2009. In 2013, the average median price is $335,000, with approximately 533,000 homes selling in 2013, according to a projections report by the California Association of Realtors. The dollar volume of sales is also increasing, according to figures in the same study.

Geography

Situated on the Pacific Ocean on the west coast of the United States, California is bordered by Oregon to the north, Nevada to the east, and Mexico to the south. It is home to the Sierra Nevada mountain range, as well as Yosemite Park, and Death Valley. Inside the state are many rivers, lakes, and miles and miles of beachfront coastline which are only bested in mileage by Alaska and Florida.

Climate

The state has what's known as a “Mediterranean climate”, meaning summers are mostly dry, and the winters are cool and rainy. Along the coast, winters and summers are relatively mild, but further inland, those conditions change and winters are more cold, with summers being more warm. However, the state is known for its moderate climate, making it all the more attractive.

Demographics

California has the largest population in the United States, which means it is also one of the most diverse in its demographics. The US Census Bureau estimates that 74 percent of the state's residents are white, 38 percent Hispanic or Latino, nearly 17 percent Asian, 6.6 percent black, 1.7 percent being Native American, and 3.6 percent of its population are considered multiracial.

Main Attractions

Being such a large state, California is home to many destinations that attract visitors from all over the United States and from abroad. Redwood National Forest is one such destination, along with three large theme parks, SeaWorld, Disneyland, and Universal Studios, and it's many vineyards, as well as Hollywood and its many studios. Other big draws are Lake Tahoe, Desert Valley, and the Golden Gate Bridge. California has many natural wonders, which also make for heavily visited destinations; in combination with its popular cities of L.A., San Diego, and San Francisco, which attract millions of visitors each year.

Economy

The state of California has a gross domestic product of nearly $2 trillion, making it only slightly smaller than all but eight nation states which include China, Japan, Germany, France, Brazil, the United Kingdom, and Italy. The state owes its economy mostly to entertainment, agriculture, international trade, technology, and tourism.