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Real Estate News
Korea Town Unsafe - Many Muggings and Burglaries. Women Beware!
ANXIETY BUILDS AS CRIME INCREASES IN KOREATOWN
Los Angeles Times, California Section; Tuesday, October 31, 2006
K. Connie Kang and Andrew Blandstein, Times Staff Writers
Some residents won't go out after dark in the trendy area. Others fear South Korean investors will be turned off.
H.J. Huh arrived in Koreatown a decade ago, as the district was struggling to recover from the 1992 Los Angeles riots. The nurse from South Korea has seen the area blossom with fancy restaurants, luxury health spas and high-end condos. But Huh says she has never felt less safe.
First, a rapist stalked the neighborhood, attacking more than a dozen women. That was followed by several robberies and shootings. Now, she tries to stay in her apartment at night, even avoiding a quick trip to the nearby Korean supermarket. When a stranger enters her apartment elevator, she gets off at a different floor to make sure she is not followed home.
"I am afraid to go out - even to a market at night," she said "Koreatown is one of the densest areas in the city, but you hardly see patrol cars."
To the casual eye, Koreatown is thriving - with luxury condominiums and extravagant nightclubs rising from the destruction of the riots. During his Asian trade mission earlier this month, Mayor Antonio Villaraigosa announced $300 mission in South Korean investment in Koreatown, including a Korean Trade and Cultural Center, new offices for the South Korean Consulate and a Korean American Museum.
But behind the glitz, anxiety is building. A series of high-profile slayings in the community over the last year - including the shooting deaths of three people at a Koreatown restaurant earlier this month - have heightened concerns about crime.
Los Angeles Police Department statistics underscore the perception, showing a 40% jump in homicides (from 15 to 21) and 11% increase in robberies (from557 to 620) in Koreatown so far this year. Rapes in the district are up 47% - from 30 to 44...
For the complete article, see LA Times.com
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“The fall home-buying season typically is not the most robust, but in the context of our own data we are seeing a transition in the market.” said Leslie Appleton-Young, chief economist with the California Association of Realtors, which is predicting a 2-percent drop in home sales next year.
Some real estate agents say they have been seeing similar indications of a slowing market around the region since at least mid-September, with sellers stating to contemplate whether they should lower their asking price.
Housing experts were making observations at the Milken Institute's State of the State conference last week, concluding that California home prices would first flatten and then drop by 1 % to 15 % over the next two years. "Prices in California are overvalued by at least 10%," said economist Mark Zandi of Economy.com.
PLEASE do not settle for Silverlake or Echo Park... they're not safe yet!
If you are going that way, Los Feliz is safe, and fun!
Below are some good areas:
Los Feliz/Los Feliz Village
The Grove Area