Month: June 2015

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Why Are People Buying Outside of Downtown Los Angeles? And What Are They Buying?

Buying a Real House – Loft Buyers Who Chose Single Family Homes

As prices in Downtown Los Angeles have already surpassed everyone’s expectations, and still continue to grow quickly, the average buyer can no longer afford the typical price in Downtown LA.  Over the last month, the lowest price loft in the Arts District was a whopping $850,000 (today there is a steal on a Barker Block loft with plenty of light and view for a mere $629,000). No longer a bargain basement of abandoned industrial buildings adopted by starving artists, Downtown is now a luxury neighborhood, a place of upscale urban vibe that offers real lofts, concrete, brick and authentic Downtown dining and entertainment experiences that you cannot find in West L.A.

With the $600,000s being the new floor price for Arts District lofts, more buyers in the $250,000 to $500,000 range are now looking at neighborhoods outside of Downtown for the right price on cool condos in fun neighborhoods.  When a prospective Downtown loft buyer ends up purchasing in a different neighborhood, they often still continue to aspire to eventually buy in Downtown. For those who cannot buy a Downtown dream loft today, buying a nearby condo or house is a stepping stone to allow the amazing dream loft to come true in the future. Buying in another great neighborhood protects the buyer from home price inflation. By owning another great home, the prospective loft buyer benefits from the higher prices, while most renters fall further behind the price curve.

Eager to get a better deal, they purchased homes located in the neighborhoods roughly between Downtown Los Angeles and Hollywood. They mostly chose houses with open concept kitchen-dining-living rooms, yet having traditional bedrooms with doors. Here’s what they have been buying instead when they did end up buying a Downtown lofts that they originally looked at:
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Pico-Union Neighborhood Adjacent to Downtown Los Angeles

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This newly rebuilt house is a lofty-little 2-bedrom with bonus room. Just 5 minutes to Downtown, the living area is open-concept with high ceilings and real wood beams all for about $100,000 less than comparable Downtown lofts.

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Melrose Hill, East Hollywood Neighborhood – Five Minutes to Fun Hollywood Nightspots

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Modern renovated small 2-bedroom single family home in East Hollywood, minutes to unlimited fun and excitement of Hollywood.

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Hancock Park Condo

Walk to dining and shopping on Melrose.
This clean. affluent neighborhood is a quick walk to dining and fun shops on Melrose.

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Glassell Park 3-Story House with Views of Griffith Park

Unable to find a large enough loft with balcony and view, the buyer opted instead to purchase this Mt. Washington 3-story house with pool, 2-car garage and grand vista of Griffith Park.
Unable to find a large enough loft with balcony and view, the buyer opted instead to purchase this large, Mt. Washington 3-story 3-bedroom house with pool, 2-car garage, entertainment room, grand vista of Griffith Park, and lots of windows and skylights.

Get more single family homes and condo alternatives to Downtown lofts in fun nearby neighborhoods. Fill out my Online Form.

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Copyright © 2015 This free information provided courtesy LAcondoInfo.com with information provided by Corey Chambers, Realty Source Inc, BRE#01889449 We are not necessarily associated with the home owner’s association, seller or developer. For more information, contact (213) 880-9910 or visit LAcondoInfo.com  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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Don’t Pay Another Cent in Rent to Your Landlord Before You Read this FREE Special Report

First-Time Buyers in Downtown Los Angeles:
How to Stop Paying Rent and Own Your Own Home

2015-01-18 10.24.59Downtown is the place to live for more and more young professionals who find the urban vibe to be very energetic and appealing.  The new nightlife, shops and restaurants coming to Downtown add a great deal of interest for those who are just starting a new career or a new phase of life.  In Downtown LA, more than half of all new homebuyers are first time buyers who have been staying with parents to save money for a down payment, or have been renting for some time.

If you’re like most renters, you feel trapped within the walls of a house or apartment that doesn’t feel like yours. You’re always thinking about how you can get out of this rut and leap the hurdle into home ownership.

If you’d like to break free of the “rental rut” and become a homeowner just as soon as possible, you can order a free list of homes that you can buy with little or no money down in your desired price range and area.

A free Home-Hunter Service specializes in researching and providing you with the latest information about the very best buys of affordable starter homes currently on the market. The unique, automated service enables you to get priority access to the hottest new listings giving you the competitive edge so that you can save thousands of dollars by finding the best buys before other buyers even know about them. By being there first, you’ll be able to negotiate to get the most home for the least amount of money. After all, the best deals get snapped up quickly by smart buyers like you.

Here’s how it works. Every evening, a computerized Home-Hunter system searches through all new listings from every real estate company, not just the L.A. Loft Blog, that have been listed in the past 24 hours. Real estate professionals review each and every one of these listings in order to find the best buys on the market. From this,  a comprehensive “Hot List” is printed and provided to you free of charge and without obligation.

renters-no-rent-cp-ad-norentla-jpgFor example, right now the First Time Buyers “Hot List” identifies a number of affordable starter homes to help you get into the housing market and stop paying rent – forever. There are several homes in great neighborhoods. Some of which feature large spaces, high ceilings, 24-hour security, lots of windows, bright light and much more, all at affordable prices so that you can break out of the “renter’s rut” and have a place to call your own.

The First Time Buyers “Hot List” will help you identify the best buys on the market right now that are in your desired price range and location. This is a FREE community service to help you save money, time and the inconvenience of searching for just the right property on your own. Remember, the service offers you a way to beat out other buyers before they even know about these listings, saving you up to thousands of dollars so that you can get the most home for the least amount of money. Buyers love the free Home-Hunter Service because it doesn’t cost them anything to get all the information they need, hassle-free and without feeling obligated.

You can request the free Home-Hunter Service at NoRentLA.com or fill out the online form:

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Copyright © 2015 This free information provided courtesy L.A. Loft Blog and LAcondoInfo.com with information provided by Corey Chambers, Realty Source Inc, 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 LAcondoInfo.com  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.