Month: July 2014

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Pan American Lofts Downtown L.A. 253 S Broadway, Los Angeles, CA 90012

Pan American Lofts Downtown L.A. 253 S Broadway, Los Angeles, CA 90012

Built in 1895, the Pan American lofts building is one of the oldest buildings, and was one of the first office buildings in downtown Los Angeles.

Lofts in Downtown Los Angeles - Pan American Loft building
Pan American Loft building distressed properties

In the heart of Los Angeles’ historic Old Bank district, near the Civic Center and Bunker Hill, the Pan American Lofts provide a unique kind of live-work space for Downtowners.

With stylish, modern interiors, the Pan American Lofts boast bamboo floors (select units), original exposed brick and concrete walls, 12′ to 17′ ceiling height, copious windows and natural light, high-end stainless steel appliances, controlled-access underground parking, interior courtyard, juliette balconies or private decks (select units).

Several of the units have no parking space, and the west-facing paid parking lot is possibly a prime candidate to become a view-blocking highrise structure.

Properties with certain unusual issues can sometimes present an unique opportunity to get a good deal.  Buyers can request a hotlist of distress sales and bank foreclosures for Pan American and other downtown lofts.

Distress Sales resulting from bank foreclosures often represent a great way to get a fantastic deal on a loft. It’s not easy for the average loft buyer to find these deals, because you have to keep searching to see when one comes up.  Prospective buyers can request a free copy at LAcondoInfo.com

Request a viewing, new listings or other information for Pan American Lofts:  Fill out the online form.

 

 

 

Copyright © 2014 This free information provided courtesy Corey Chambers, Realtor, Keller Williams Realty, BRE#01889449 We are not necessarily associated with the home owner’s association, seller or developer. For more information, contact (213) 478-0499 or visit DowntownLosAngelesLoft.org Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.
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Where Did All of the Lofts Go? Pocket Listings and Other Unlisted Lofts in Downtown L.A.

Where Did All of the Lofts Go?
Pocket Listings and Other Unlisted Lofts in Downtown L.A.

Downtown Pocket Listings
Downtown Pocket Listings

Many Downtown loft seekers never see all of the properties for sale because they do not know how to gain access to unlisted lofts and condos called “pockets listings.” Most buyers, agents and brokers are unaware, and they do not have access to these special deals.

A pocket listing is a type of exclusive property for sale where a broker holds a signed listing agreement with the seller, but where it is never advertised nor entered into a multiple listing system (MLS), or where advertising is limited for an agreed-upon period of time.  The reasons for a pocket listing may vary from the need for privacy or secrecy to discrimination, and some sellers may have their own reasons for not advertising a listing in conventional ways, including wanting to sell only to certain types of people.

Pocket Listings Sold in Downtown LA
Pocket Listings Sold in Downtown LA

Pocket listings may give buyers an extra advantage when searching for real estate which is not advertised anywhere else.  The transaction typically only has one real estate agent, thus potentially lowering the overall commission costs.  If the buyer’s objective is to look at all the available homes for sale in a given area, they would need to look at MLS and all private listings for sale.

Read the entire Wikipedia article about Pocket Listings at: http://en.wikipedia.org/wiki/Pocket_listing

In Downtown LA, pocket listings are a significant factor in the success of many buyers and sellers.  Realtor Corey Chambers reports that 45% of his buyer clients purchased pocket listings over the past 2 years.  And more than 80% of his team’s seller clients opted to keep the property off of the public market as a pocket listings for at least a short time in order to appeal to more fully qualified VIP buyers who are seeking extraordinary opportunities.

It’s easy to gain access! Buyers can request free access to the largest number of pocket listings, other unlisted properties and bargains with the pocket listing specialists at LAcondoInfo.com