Asking prices for homes in Los Angeles can be very high, just right or even very low as compared to the SP final sale price. That’s why it’s necessary to look at the sold price of homes that closed escrow recently in the neighborhood. By seeing what really sold, buyers and sellers can quickly get caught up with what’s happening in the local real estate market, and the real home price and value can be determined. Below is a list of lofts and condominiums that sold this week around Downtown L.A. #sold #homes #dtla
Real Estate Economics of Downtown L.A. Lofts and Condos Today
The L.A. Loft Blog, the authority on Downtown Real Estate, reported in 2016 that we entered into a normal real estate market. What is a “normal” real estate market? Before we can answer that, we must answer the question about why we never hear the word “normal” when we hear news about economics . #dtla #realestate #news
Let’s first start by informing about how we at the L.A. Loft Blog have been helping buyers, sellers, renters and landlords by telling everyone (who was fortunate enough to read in 2011) to start buying real estate, to catch the wave before it passes, and that it would be almost like getting a free house. In 2013, the L.A. Loft Blog reported that prices were up and that the sky is the limit on prices.
The fact is, economics is the dismal science, and most ignore it. Buyers buy when they feel like it, or when they have the money, and sellers sell when they need to, or when they want to move or to cash out. The smart, astute and savvy do, however, at least pay attention to economics and integrate the facts as much as possible into their profitable plans.
In 2012, when the recession was at its lowest, the publishers of the L.A. Loft Blog eagerly put our own money where our mouths were, and went all in on purchase of real estate. We bought an Alta loft for $202,000 that year, and a few years later, the value was more than double. While it’s not exactly free, that is the closest thing to getting a free home for a home buyer.
Eckardt 302 with balcony asking $442,880
While many took advantage of the low prices at that time, others professed to know that there was a coming wave of foreclosures that they were waiting for. A heaping pile of garbage, the national mainstream news was dad wrong. The publishers of the L.A. Loft Blog informed our small readership that the “coming wave of forclosures” was not coming. Indeed, it never came. The only real wave was the wave of high prices that the L.A. Loft Blog forecast earlier. We, with many of our clients are riding that wave all the way into the frickin’sunset!
National real estate news does not exactly match up to Downtown real estate because Downtown Los Angeles is a fast-growing urban center in an unprecedented renaissance and renewal. The recession was slow to hit Downtown in 2009, and then Downtown LA was among the first to escape hard times as DTLA again exploded, quickly with growth in 2012 when the rest of the country was still waiting for the “wave of foreclosures” that never appeared. Not only is the mainstream news media unable to forecast what it coming up in the economy, the mainstream news is utterly unable to report anything as normal simply because “normal” is not news.
Today, we’re in a normal real estate market as prices are approaching a moderate plateau. Normal means that the economy is growing at a relatively common pace, and PRICES ARE LIKELY TO CONTINUE TO RISE SIGNIFICANTLY BEFORE PRICES DROP SIGNIFICANTLY. The coming plateau will likely provide extended stability, the hottest market is yet to come, and then the following fall in prices will be both late and marginal. Downtown rent prices have been largely stable for the past 12 months, indicating a stabilizing trend for home prices. A great deal of cash today is on the sidelines. After unprecedented quantitative easing by federal governments (electronic printing of money), cash is relatively easy to come by as viewed from historic standards. While it’s not a time for investors to immediately double their wealth in real estate, today’s Downtown Los Angeles real estate market does present a great opportunity for renters to stop renting and lock in a historic low interest rate and affordable monthly payment.
Those who need crazy, abnormal gains quickly will need to invest in Bitcoin. Or let us know what you think will be a faster-growing investment at email@example.com
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Unlisted Lofts, Pocket Listings and Off-Market Condos
Homes For Sale: Many of the best deals on Downtown L.A. real estate for sale and for lease are not on the internet and not listed with real estate agents. These off market properties include unlisted homes for sale, pocket listings, properties that are already in escrow, under contract, on hold, canceled, withdrawn or not yet listed for sale. #unlisted #lofts #dtla
How to Buy an Off-Market Property
Many smart buyers make the mistake of missing out on just the right loft, condo or house because they never see the best deals. Even many experienced real estate agents are not good at dealing with these properties, simply writing them off as “already taken” and they will never show them to you. It’s important to see these properties and to take advantage of them. Take advantage of the fact that other buyers and agents do not know how to properly take the initiative to purchase off market properties.
Pocket listings and all other off-market homes can be found from unique sources with specialized knowledge and proprietary information on properties that are not listed on the real estate agents MLS and not on the Internet.
The source must be able and willing to provide these properties to the buyer, or the buyers need to find a source that is ready willing and able to provide all of the types of off market property information.
For properties that are on hold, expired, withdrawn or under contract, the first step is to contact the seller by telephone, text and email, and then provide the address, building name and/or neighborhood or cross streets of the property, along with the contact information and license number of the buyer’s agent.
The buyers agent and then must follow up with the seller the next day week month two months six months and one year.
The best deals go fast — and that’s why it’s important not only for buyers to get property listings sooner, quicker — and to thereby get off-market, unlisted and pocket listings. So, the secret is to properly follow-up on these superior properties that are better deals for the buyer, resulting in long-term happiness and a comfortable financial future that these special deals provide to their smart and fortunate owners.
Get a free list of off-market homes with info on free access to pocket listings and unlisted lofts and condos in Downtown Los Angeles. Fill out the online form:
Best Deals in Condominiums in Downtown L.A. #dtla #bestdeals #homes
The best deals go quickly. That’s why smart home buyers know how to look for special deals that offer better homes, more amazing lofts, at lower prices and with higher profit potential.
New Homes Los Angeles
Best Deal Types
New Construction Homes – New build homes are often a better deal because they are newer, latest technology and highest construction quality, at very competitive prices.
Mills Act Homes – The state of California, along with counties and cities provide a big discount on property taxes to owners of qualified historic lofts and buildings.
Distress Sale – When a seller needs to sell quickly for any reason, or when the seller is having difficulty selling due to physical or legal condition of the property, it opesn up the possibility of better negotiating power for the buyer, and a lower price.
Bank Owned – When a homeowner can’t pay the mortgage on time, the bank takes over the property and sells it for whatever the market will bear, often at a low price.
For Sale By Owner ( FSBO ) – Some owners prefer to sell their home themselves rather than using a listing agent. This can create a great opportunity for buyers to negotiate a lower price.
Expired – When a home is listed for sale but does not sell, it creates an opportunity to offer a lower price.
Foreclosures – When home was not paid for on time, the property is taken over by another party, who often sells it quickly at a lower price.
REO – Real Estate Owned is a class of property owned by a lender, typically a bank, government agency, or government loan insurer, after an unsuccessful sale at a foreclosure auction.
Company Owned – Refers to a bank-owned property that is taken over due to a foreclosure or similar action.
Estate Sale – When a homeowner passes away, the family or other heirs inherit and sell the property to distribute to the funds fairly to the new owners.
Probate Sale – When a homeowner dies without a proper trust, a judge must oversee the transfer and sale of the property.
In Escrow – Many prospective home buyers give up when they hear that a desirable property is already in escrow with another buyer. Rather than giving up, the buyer can and should take steps to be an official back-up buyer.
Under Contract – A residential purchase agreement has already been signed, but the agreement may be canceled. Buyers can put in a back-up offer to take advantage of canceled contracts.
On Hold – The seller has decided not to sell the property for a certain period of time. The seller is likely making preparations to sell, and smart buyers will place an offer and then follow up frequently to get a great deal.
Vacant – Nobody is living at the property, so the seller could be paying mortgage and losing a lot of money. The seller might drop the price drastically, giving the buyer an excellent deal.
Divorce Sale – One of the fastest growing deal types, divorces are commonplace in Southern California, and create an opportunity where the property must sell more quickly, often at a lower price.
Auction – The property sells to the highest bidder, often at a below-market price. The auction process is often used for unsold new homes, foreclosures and bank-owned homes.
Pre-auction – When a home owner is late in mortgage payments, the property gets listed as a pre-auction. Most auction listings are actually pre-auctions that will never go to auction, but offer a great chance to put in a profitable offer to the owner even if the unit is not listed for sale.
Pre-foreclosure – Before going into foreclosure, the property owner is often open to considering unsolicited offers, an excellent opportunity for savvy home buyers.
Raw Lofts – Loft developers sometimes do not complete every unit in a loft conversion development. These raw lofts often sell at a lower price similar to other unfinished construction homes.
Off Market – Any property that is not listed on the MLS as Active is an off-market property. These reduced-visibility listings and unlisted homes offer superior opportunities to get a lower price when other buyers do not see them.
Private Listings – Some home sellers do not want the general public to know that they are selling their home, so the seller chooses to keep the listing private and only offer to show it to buyers who are qualified.
Unlisted – Properties that are not listed on the real estate professional’s MLS Multiple Listing Service. With less competition, buyers can get a better deal and an easier negotiating process.
Pocket Listings – When a listing agent does not make the property information available to all other agents, the buyer can often get a better deal due to reduced competition.
Need To Sell Now – Homes that need to be sold immediately provide an excellent deal for buyers who are fully prepared and ready to grab a bargain.
Short Sales – When a home seller owes more than the property is worth, the seller can sell the property with the lender’s permission in a short sale. Short sales take longer and require twice as much negotiations, with the seller and also with the seller’s lender.
Unclaimed Homes – Any home that has not yet closed escrow can present a super deal for the buyer when the buyer implements superior search, bargaining and negotiating strategies.
Get a free list of distress sale deals. Fill out the online form:
NEW HOMES UNDER CONSTRUCTION – See the town homes today!
New Homes Under Construction – Early tour today
New home buyers couple gets key
Just the right loft, condo or house and a great deal. #newhomes #losangeles Get those special advantages that the L.A. Loft Blog always talks about. While most Downtown area home buyers are having trouble finding enough inventory, the informed buyers are going to see a new construction townhouse condominium building today. Beat out the other buyers to the best deals, by getting free access to these powerful, profitable details and beating out the thousands of competing buyers who don’t read the L.A. Loft Blog. Get priority access:
Town House New Build Construction Tour
Sunday from 11:00 am to 3:00 pm. Remember, this is a chance to see new plans 1, 3, and 4!
Closed toed shoes and appointments are required. For safety reasons children under the age of 5 will not be able to tour the homes.
We can’t wait to see you!
Get in right away. It’s quick and easy to get on the new homes interest list. Fill out the online form:
The L.A. Loft Blog presents New Homes of 2017 — Compare these new construction Downtown homes to the 1960s vision of the home of the future. #newhomes #losangeles
Downtown Los Angeles Homes of the Future — See all new homes arriving between 2017 and 2019
The home of the future. Dreams travel faster than light.
In 1967, the Philco-Ford Corporation released a short film titled 1999 A.D. In it, the inevitable advances of the future are demonstrated. Some of the predictions seem to be right on, while others appear to have been pulled straight from Star Trek. Enjoy peering in to the future to see what homes in the year 1999 will be like.
Eckardt 302 with Balcony – Available Today
Hexagon modules are not here in Los Angeles yet, but modernized industrial and historic lofts, along with brand new construction luxury high-rise towers have arrived, with more on the way.
Get a free list of all new homes under construction in Downtown Los Angeles. Fill out the online form.
OPEN HOUSE LIST DTLA — The best deals go quickly. When seeking a great deal in Downtown LA, buyers are also more and more concerned that they could get priced out of the market if they don’t get the right home soon. Looking at open house homes for sale is a fun way to get on the right path to discovering the place that is just right. #downtownla #openhouse
Eckardt Building Loft with Balcony Every Day Open House – Call for times (213) 880-9910
By taking a walk into Downtown L.A. open house lofts and condos for sale, would-be loft owners can enjoy seeing close-up what different kinds of residences DTLA has in store for them. Historic lofts with fabulous character and Mills Act monetary benefits, former commercial office high-rise luxury loft conversions with breath-taking views, concrete and brick New York style industrial lofts, 2-level lofts with upstairs mezzanine bed area separation, comfy traditional style condos with super amenities, along with lofty houses and condominiums outside of Downtown bring choices to coming urbanites.
Hey, check out this week’s open house list, and keep in mind that some properties offer an Every Day Open House. Call for times (213) 880-9910.
REAL ESTATE NEWS — Many Downtown area homeowners received a post card recently from a loft specialist real estate company stating that rents are declining. Because the L.A. Loft Blog is the authority of Downtown Los Angeles real estate, we’re going to help determine if this is true. Are rents really going down in Downtown L.A.? #rentprice #dtla
Are Downtown L.A. Rents Going Down?
The post card fails to include the exact beginning and end period, and also does not mention the comparison period. The statistical statements therefore are not complete, and so it’s like saying a car is going 55 or 75 without saying miles per hour or kilometers per hour etc. The same is true when talking about rental rates. Panic selling is rarely a good idea, so Downtown home owners and landlords want to know the real details of what is happening to the DTLA rental market.
To know the real state of rents in Downtown, we need to look directly at the MLS Multiple Listing Service data, and compare the specific time periods. The generally accepted time period to observe in real estate is the past 6 months (the recent market period), and then to compare that to the same 6 month period in the years earlier.
We’re not going to use average because the MLS data contains errant massively incorrect data. Median is more accurate (the middle number), so lets take a look at the real median rental price for those specific periods:
So looking directly at the real MLS data, we can see that rents are generally not going down, but the rate of increase has most certainly gone down. A stabilization has occurred. No need to panic. In fact, the opposite is true. The right amount of new apartments have been built so that the thousands of new Downtown residents might not need to encounter huge rent increase in the near future, and landlords will likely not be able to raise rents dramatically. Downtown Los Angeles landlords will also not likely need to implement the 65% rent reduction that the recent postcard seems to suggest.
Get free information on apartment and loft rental tours in Downtown Los Angeles. Fill out my online form:
Atelier Apartments 801 S. Olive St., Downtown Los Angeles, CA 90014
New in Downtown L.A. — Where art and culture meet, Atelier is more than just the latest modern apartments. #atelier #dtla
ATELIER offers front row seats to the vibrant transformation of Downtown LA. Surrounded by world-class entertainment, museums, galleries and restaurants, residents enjoy a vast array of cultural destinations and experience the rich tapestry of DTLA.
Designed by Solomon Cordwell Buenz, the chic glass structure soars to 33 stories, with floor-to-ceiling windows bringing 360° city views. These premium residences deliver thoughtfully designed luxury finishes along with resort-style amenities. Evolved by design, ATELIER is the blank canvas to make one’s own.
These sparkling Downtown Los Angeles Atelier apartments offer residents an exquisite home in the nation’s most geographically unique and vibrant metropolis. A combination of historic and contemporary, the city itself is home to famous picturesque views, timeless architectural masterpieces, and is intrinsically decorated with the fine arts. Incorporated into this thriving city are majestic mountain tops that offer the ultimate in relaxation, as well as the warm beaches that California is known for.
Atelier Downtown L.A.
With the perfect blend of nature’s beauty and exhilarating city life, living in Los Angeles offers boundless enjoyment for those that call the area home. Fine dining experiences, historic theaters, extravagant libraries, wholesome marketplaces and grand concert halls can be found in abundance here. These high-end attractions stand within reach of these luxury DTLA apartments for rent, but the ability to take part in all facets of LA while enjoying resort-style living is what makes this a truly unique experience.
From German hardwood style flooring to quartz countertops with under-cabinet lighting, Atelier redefines luxury apartments in downtown Los Angeles. Balconies offer dreamlike views of the city while the finest modern furnishings create stunningly elegant living spaces. An unending abundance of amenities make possible a wide variety of lifestyles from the pet owner to the entrepreneur and the fitness enthusiast with state-of-the-art designs and comfort in mind.
Standing in one of the world’s most exuberant cities, Atelier DTLA provides nothing short of the finest in luxury living.
The first thing that one notices about Atelier is that the building is a big, black sleek, modern beast of a structure, an immense onyx obelisk. When the door is puled open, both heavy glass doors automatically open, the second door batting away the inattentive like a giant crystal Greystar fly swatter serving to pre-enlighten visitors that they should stay alert and in-line, and only then may they appreciate the grand automation and high-end, high-tech convenience of Atelier.
The lobby introduces an ultra-modern, minimalist art gallery feel with immediate personal service by the front desk.
The upscale building in DTLA emphasizes amazing views, vast array of lounges and other amenities, including a prominent corner dog run with city views and a dog spa with pet baths, furry friend showers and do-it-yourself animal grooming station.
With indoor and outdoor lounges galore, sprawling fitness center of the fullest complement, pool deck of sweeping openness, brilliant social spaces in rich surroundings, the towering high-rise with designer interior with top-notch finishes accentuate the successful minimalist art theme of Atelier.
New apartments start at around $2,800 as of 07/18/17.
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Thousands of aspiring urbanites continue to flock into Downtown L.A. to experience and contribute to its great renaissance. The creative center and financial heart in the entertainment capital of the world, Downtown LA brings an assortment of amazing historic and industrial lofts for lease, along with sparkling new, fashionable apartments for rent. #downtownlosangeles #apartments
Just listed this week, a big Alta corner unit loft that combines amazing industrial architecture wth the latest modern updates and comforts. Featuring a private balcony, extra spacious bathroom and real bedroom with a door that closes, this Alta loft leaves ordinary apartments in the dust. Now there’s no need to settle for less.
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