Diamond Mortgage Blog

The Home Depot store on Slauson & Western is the #1 store in the U.S. in gross sales. What do these numbers mean to you and I? 

I have always kept my eye on South LA since started my career in Real Estate in 2003. Because this area was the market I felt I could relate to the home owners, future buyers and my own future investment needs. I follow zip codes 90043, 90047, 90044, 90062, 90007, 90008, 90016, 90018, 90002, 90003, 90001, 90302. In 2004-2006 housing boom this areas increase 30%-46% in value. Home prices were around $250k and jumped up to the $450k range. It was crazy to see these values in these areas grow so fast.

What does being the #1 store in the country mean? I heard corporate flew in to see what was taking place in this store. How was this store making so many profits with a median household income $30k. With 63% of households are renters and a 56% growing Latino community. With these numbers its lead to believe that investors and 1st time buyers are buying in this area, making new home improvements to their investments. 

Now that these values are back down to the $200k area more 1st time buyers are entering the market and investors. This is a great time to find that new property.