August 2018 – Page 10

For Lease 3 bedroom 3 baths ideal Live/Work DTLA location

Grand Avenue Lofts This unit is ideal for a Live/Work Space in South Park.

The street-level entrance makes this South Park two-story Loft ideal for live/work space at 1100 S Grand Ave A007.

Spacious CREATIVE/LIVE/WORK LOFT in SOUTH PARK! Perfect for Design office/tech/yoga/fitness/well-being company, etc. Offered for lease at $5,200. You will have full access to gated parking, all amenities such: coffee bar, pool tables, commercial kitchen event space, business lounge, indoor volleyball court, large gym, yoga, Olympic sized pool, half court basketball, dog run, outdoor movies, cabanas, 30th floor viewing deck, large hot tub, lounge, bbq, and recreation areas. Street level entrance, two additional interior entry doors, one on each floor. two story unit with very bright natural light and huge windows. Full sized kitchen with peninsula, stove, microwave, oven, and dishwasher. Bamboo floors and open two-story space, central HVAC, interior patio. Walking distance away from many bars, restaurants, cafes, LA Live, Staples Center, LA Convention Center.

#liveworkloft #groundfloorentrance

LOCATION

Downtown L.A. is a place to live, work and play 24 hours a day, seven days a week. And Grand Lofts’ location is South Park is in the heart of it all.

Walking distance is the critically acclaimed restaurants, the ever-popular Staples Center, and the future Downtown Sports and Entertainment District including Nokia Theater and Plaza and a 1,200 room Convention Center hotel. A Ralph’s supermarket is also set to go.

With Metro Blue Line and DASH shuttles at hand, you’re minutes from L.A.’s many distinguished districts, including the fashion, jewelry, financial, as well as government offices.

The north side’s arts and cultural center is home to the Dorothy Chandler Pavilion, the Ahmanson Theater, the Mark Taper Forum, the Museum of Contemporary Art, and the Walk Disney Concert Hall.

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LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]

1100 S Grand Loft A007 Live Work Two Story

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.

HOME SELLERS: BE PREPARED FOR LOWER PRICES IN 2019 / 2020

Scary real estate market of Downtown Los Angeles

Real Estate Market News (Downtown Los Angeles, CA) — The last six months of completed Downtown real estate activity shows very healthy numbers for sellers, and a pricey time for buyers: Downtown Los Angeles median price is up 3.2% over the last 6 months compared to the same period last year. Inventory of available Downtown homes for sale has dropped by 6.15% over the same period. Homes sold faster with average days on market dropping by 12.9%. So why is the L.A Loft Blog, along with a few other media, sounding the alarm?

While there is no reason to anticipate a huge downturn in home prices, all of the signs and signals are in — most importantly: the feedback from L.A. Loft Blog readers, who really are the final arbiters of truth regarding Downtown residential real estate. The wallets and calendar of the readers do not lie. When a Loft Blog visitor spends time and money, (or, in this case, stops spending time and money on something), there is no equivocation, no conjecture and no doubt as to the truth. L.A. Loft Blog readers (and other prospective buyers, sellers, tenants and landlords) have communicated explicitly through words and actions that they generally have no plans to purchase a home in the next 3-6 months. At the same time, very few plan to sell in the coming months. This combination indicates a plateau (little or no increase in prices for a sustained period) and a sideways market (a combination of roughly equal up and down prices). #dtla #realestate

DOWNTOWN LOS ANGELES REAL ESTATE MARKET METRICS

The calm before the storm — While the median price went up, the average sold price did not budge from the same period one year ago. This indicates that price pressure has already begun. The lowest home sold and the highest home sold prices are down from the previous year. Total volume of real estate sold is down by 6.2% over the same period. #homeprice

Some say that the bull market may continue a lot longer:

https://www.marketwatch.com/story/why-this-bull-market-may-have-miles-to-go-before-it-sleeps-2018-08-20

Locally, the statistics and the behavior of home buyers shows that we have reached a crossroads. “In 2019, the loft buyers have started to dry up,” says loft specialist Corey Chambers, Associate Broker with Realty Source Inc. “My clients and I bought lofts in 2012, and we did very well. Now, I’m informing prospective sellers that the time has come to consider locking in those gains by cashing out.”

For those who are considering selling their loft or condo, now is the time to put extra thought into future needs and wants. Once the market begins to falter, the slide may escalate faster that expected. Or, in this case, real estate could sadly stagnate for an extended period of time. Because the financial well-being or L.A. Loft Blog readers is on the top of our priority list, we are repeating the warning that we gave recently. — And remember, the mainstream media generally gives economic warnings about 6 months after they happen… too late.

HOME PRICES LIKELY TO DROP

We are not going so far as to predict the future, nor to guarantee any economics because there is no way to know how thousands of locals, and millions of individuals nationwide will behave at any time in the future. Based on the factual numbers and market data that we receive daily from hundreds of loft lovers corroborated by technical sources, we are confident that we can and should disclose the reality of a cooling market, and that we should reveal the likelihood of a mild price slide, plateau or sideways market coming up.

Real Estate Chill: