The New York Times: National Perspectives; Home Prices Are Rising In a Historic Los Angeles Area

July 4, 2004 — In just six months, Kim Watson figures, his house in the West Adams section of Los Angeles has appreciated by $200,000. Though it hasn’t been appraised recently, he and his wife, Jennifer, have watched similar houses on the street sell for $700,000 to $800,000. ”It’s unbelievable how fast it’s happening,” said Mr. Watson, a screenwriter. ”I think if we wanted to buy here again, the neighborhood might be too expensive.”

The couple’s 3,400-square-foot home on 21st Street is a Craftsman-era house, built in 1908 in the four-square style. It is oozing with period detail like pocket doors, high ceilings and gleaming hardwood floors. It has five bedrooms, three full baths, a sun porch and a huge yard.

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