Month: July 2017

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Lofts and Condos For Sale Open House Downtown Los Angeles

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
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.

FREE LIST  —  open-house-downtown-los-angeles-170721 (pdf)

>> MORE

Get free list of open house lofts and condos for sale. Fill out the online form:

LOFT & CONDO LISTINGS DOWNTOWN LA  [MAP]

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SEARCH LOFTS FOR SALE UNDER $400,000  |  $800,000,  |   $30,000,000
Browse by Building  |  Neighborhood  |  Size  |  Bedrooms  |  Pets  |  Parking  |  More

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Every Day Open House  —  Call for times (213) 880-9910

Copyright © 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 associated with the homeowner’s association 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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Are Rents Declining in Downtown Los Angeles?

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?
Are Downtown L.A. Rents Going Down?

RENT PRICES

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:

2015 $2,550  Downtown LA Rents 2015 (pdf)
2016 $2,740  Downtown LA Rents 2016 (pdf)
2017 $2,750  Downtown LA Rents 2017 (pdf)

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:

LOFT & CONDO LISTINGS DOWNTOWN LA  [MAP]

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SEARCH LOFTS FOR SALE UNDER $400,000  |  $800,000,  |   $30,000,000
Browse by Building  |  Neighborhood  |  Size  |  Bedrooms  |  Pets  |  Parking  |  More

What's really happening wth Downtown Los Angeles apartment rental prices?
What’s really happening wth Downtown Los Angeles apartment rental prices?

 

Downtown Los Angeles Homes Sold Prices

Copyright © 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 associated with the homeowner’s association 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.