Luxury Loft Boom – Hot Market for Downtown Luxury Lofts in Los Angeles


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Luxury Loft Boom
Hot Market for Downtown Luxury Lofts in Los Angeles

50 Downtown luxury lofts above the $775,000 mark sold in the 2nd half of 2014.  Get the FREE Luxury Recent Sales Report, plus a certificate for $2,000 off closing costs.
Sky Loft 1207 luxury condo got 5 offers even though it could not be shown most of the time due to an uncooperative tenant.

While hot markets are seller’s markets, with buyers racing and scrambling to make the deal, licensees representing sellers, and sellers themselves have plenty of reason to sweat as well. Fielding multiple offers, evaluating offers for their merit and ability to close, and overcoming appraisal hurdles are just a few of the challenges of representing sellers in a hot market.


Metropolis Super Luxury Tower Condos Under Construction

In a hot market, sellers may receive multiple offers, even within the first few hours or days of having their home on the market. In evaluating offers, the following factors should be considered:

  • Net sales price (sales price minus any closing costs, including commissions and credits)
  • Buyer’s financing (amount of down payment, type of financing (conventional, FHA, VA)
  • Contingencies (home inspection, appraisal, financing, HOA review, sale of home)
  • Earnest money deposit and type (e.g., promissory note vs. check)
  • Will the property appraise for the agreed-upon sales price?

Looking at these factors individually and as a whole will help sellers identify the best offers.  Get the Top 50 Luxury Loft List – FREE Luxury Recent Sales Report, along with a certificate for $3,000 off closing costs.  Fill out my online form.

Your Loft Sold GUARANTEED or I’ll Buy It*
Corey Chambers, REALTOR®
(213) 478-0499
L.A. Loft Blog, 816 S Broadway, Los Angeles, CA 90014
*Guaranteed home sale by end of listing term at price agreeable to seller – details at The #1 Downtown buyer’s agent with 19 successful buyer transactions closed in 2013, Corey Chambers is a Realtor®, and member of the Top 6 award-winning, 5-Star Yelp rated team.  J.D. Power Award 2012 – Keller Williams Realty ranked Highest in Overall Satisfaction for Home Buyers and Sellers Among National Full Service Real Estate Firms.  DRE#01889449

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