Month: July 2020

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Los Angeles Real Estate Market Report June 2020

REAL ESTATE NEWS

The June numbers are in, and the DTLA area property market continues to flounder. The number of motivated sellers continues to rise. 10% more sellers listed their Downtown condos for sale. They’re in more of a hurry to sell the properties. Sellers are willing to take less money, selling for less than asking price, in order to quickly unload their homes. Fewer buyers are looking to buy the declining properties amid soaring city blight and California Exodus. #realestate #market

The declining numbers support previous reports of a falling urban property market in Los Angeles. 34 sellers attempted to sell their Downtown area lofts and condos in June 2020, compared to 31 last June. The median price fell from $639,000 in June of 2019 to just $567,500 in June of 2020 as reported by real estate data from Downtown and nearby neighborhood MLS areas 23, 42 and 1375. Sellers have been willing to accept 4% less of their listed asking price as panic prevails, seller motivation budges toward desperation, the unstable economy sinks, and big city living loses its luster.

How to Fall Up

Of course, declining prices can present an opportunity for prospective home buyers and investors. For now, most are opting for defensive positions, or even paralysis, a sign that falling home prices may continue.

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Find out what the home down the street sold for

Find out how much your neighbor’s home sold for. Get a free list of homes that recently sold, along with prices, and a list of homes currently on the market. Fill out the online form:

LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]

  Lofts For Sale     Map Homes For Sale Los Angeles

SEARCH LOFTS FOR SALE Affordable | Popular | Luxury
Browse by   Building   |   Neighborhood   |   Size   |   Bedrooms   |   Pets   |   Parking

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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Entar

REAL ESTATE NEWS – The tech nerds of the L.A. Loft Blog are at it again

VIDEO

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Investopia | Bitcoin.org | L.A. Loft Blog Blockchain

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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.