NFL and Culver City Property Values
As you trusted Culver City realtor who has an innate understanding of the Culver City Real Estate market, I am happy to inform my fellow neighbors as well as future residents that Los Angeles (particularly areas surrounding Culver City, Inglewood and Ladera Heights) we will most likely see an increase in property values in the next few years. If you are thinking about buying or investing, the time is now!
Why you ask?
The NFL announced that their 3 former Los Angeles football teams, the Oakland Raiders, the San Diego Chargers and the St. Louis Rams have all turned in applications to move to the Los Angeles area beginning in the 2016 season.
The league staff will review the applications and the committees will meet in New York this Wednesday and Thursday. Then, the applications will be presented for consideration on January 12, 2016 at the league meeting in Houston. The franchise relocation requires 24 out of 32 votes.
So where will the teams be located? The Raiders and the Chargers have proposed a joint stadium in Carson, while the Rams are proposing utilizing the former Hollywood Park racetrack location in Inglewood. It is a known fact, however that there is a possibility neither location may be approved.
It will be interesting to see what will be decided. Remember, Los Angeles has not been home to an NFL football team since 1994. For the love of football and for the love of potential soaring property values, we welcome whichever team decides to make Los Angeles their home, with open arms!