March 2021 – Page 10 – LA Loft Blog

Many homes for sale in West Los Angeles are receiving multiple offers. | Blog Video

REAL ESTATE NEWS

While Downtown L.A. has been declining for several years, west L.A. real estate is booming with plenty of multiple offers streaming in. There are a few other differences between DTLA and the upscale suburban-style single family home neighborhoods on the west side. Lately, more prospective homeowners have come to believe that buying a more typical house feels much safer than an industrial or commercial condo in a gritty urban neighborhood. The real estate culture is a bit different between regular house dwellers and loft lovers. For leases, the West Los Angeles home owner landlords tend to demand two months of security deposit, while Downtown landlords usually ask for just one month of deposit. Compared to a condo, a typical house tends to be larger, cost more, require a more substantial home inspection, and more repairs. Termites, roof leaks and plumbing problems are very common among L.A. houses for sale. A house usually has various kinds of outdoor space, garage, add-ons — and unpermitted improvements are fairly common. A house tends to appeal to families with children, with whom reputable schools are a factor. While the safety-minded shall continue to spread out into West LA houses for a while, big city condominium units boast sweetening deals on nearby adult fun, individuality and new opportunities — popular with creative singles and energetic couples.

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Booming real estate market on the West Side is the story of 2021.

Copyright © This free information provided courtesy L.A. Loft Blog with information provided by Corey Chambers, Realty Source Inc, BRE 01889449. We are not associated with the seller, homeowner’s association or developer. For more information, contact 213-880-9910 or visit LALoftBlog.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.

Derelict motorhomes and trailers line the streets of Central Los Angeles

REAL ESTATE NEWS | Blog Video

Homeless deserve some human level of standards, protection and enforcement. They’re not getting it in Los Angeles, and it’s affecting everyone. A judge recently determined that it is unsafe and unhealthy for homeless to be living in and around freeways in Los Angeles. Homeless encampments continue to grow in Downtown and all over Los Angeles, while residential real estate price continue to drop in the urban areas of the city. Homelessness and unchecked crime have a growing impact on Los Angeles real estate and quality of life. A Loft Blog reader reported this week that his vehicle was shot by a gun while he was looking at lofts for lease in the Arts District. He returned from his uplifting loft tour to a very unhappy sight — his car with a bullet hole in it. It’s time to make a change before things get worse for urban Los Angeles.