Downtown Los Angeles Real Estate Market Report August 2021: DTLA Property Prices Crash Up with Stagflation

DTLA Property Crash – Downtown L.A. Housing Market Aug 2021

DTLA Feels Full Force of Stagflation as World Economy Sentiment Drops

Up and Down! Average and better L.A. urban home prices increased while the bottom of the barrel decreased. The rich get richer and the poor get poorer. The home price increases occurred even while the Downtown Los Angeles housing market slowed. The number of sellers increased, as the number of buyers decreased. Most urban home prices are today affected by the upward force of inflation, even while the bottom tier and overall market feel the downward pressure of economic stagnation. The well-to-do are able to take advantage of most any situation.

Last August, 32 properties for sale grew to 55 for sale this August; Days On Market increased from 39 Avg / 31 Med to 55 Avg / 30 Med; Most prices shot up in August compared to the same month a year ago: $580,000 Med / $704,000 Avg. As the bottom half bear the brunt, lowest price decreased from $309,000 down to $100,000 while the high price increased from $1,700,000 in 2020 to $3,000,000 in 2021. These numbers are based on real estate agents Multiple Listing Service for Downtown and nearby MLS areas 23, 42 and 1375.

As for the global economy, Americans and Europeans have lost faith in their financial futures recently. US consumer sentiment fell to a near decade low in August, according to Al Jazeera. Europe is feeling no better. While inflation can help boost or prop up the value of real estate, stagflation is not what the doctor ordered. Citibank expects a negative stock market event soon.

Find out what the home down the street sold for

FIND OUT HOW MUCH YOUR CONDO IS WORTH — Get a free list of recently sold nearby properties, along with prices, and a list of current active properties for sale. Fill out the online form:

LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]

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Copyright © This free information provided courtesy L.A. Loft Blog with information provided by Corey Chambers, Realty Source Inc, DRE 01889449; MPR Funding Inc NMLS 2000513. 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.

2020 August

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Five Hacks to Get Your Home Loan Approved

It’s no surprise that getting a home loan takes some time and effort. If you haven’t gone through it before, it can seem overwhelming. After all, this may be the largest purchase in your lifetime. No stress there. The good news is that there are a few things you can do to master the process. Start with these five hacks, well more like common sense moves. Mortgage lending is a complex dance. It’s all about getting your ducks lined up in a row.

Review your credit report(s)

Don’t just assume your credit report is flawless because you haven’t missed a payment. Look over your accounts and be ready to answer any questions that the loan officer may have. Things like student loans and old open accounts. Review your report early so you aren’t surprised by hiccups that could derail the mortgage process and even affect your ability to get the best loan terms. Check out this post if you need more help: understanding your credit score.

Set your baseline

The first price you hear will become your baseline, so anything more than that seems expensive and anything below appears to be a bargain. It sounds arbitrary, but that’s how we humans are. So, hack your baseline. Before you find out how much a lender will lend you, decide what is a smart amount to borrow. A rule of thumb is not to spend more than 36% of your income (before taxes and other deductions) on all your debt – that includes mortgages, credit cards, student loans, and other debts. Find this number first, and let that be your baseline. This will keep you from being talked into purchasing more than you can afford.

Boy Scout Hack Be Prepared with Documents

Let’s face it, there’s a lot of information a lender will need in order to review your loan application. It can be frustrating if you need to hunt for more documentation in the middle of the process. It’s much less stressful to pull together the information a lender may potentially need before you hit the ground running. Here’s a list of items you may need to provide: A good multifunction printer scanner would be a great investment.

  1. Driver’s license
  2. Social Security card
  3. Pay stubs for the previous 30 days
  4. Proof of additional income, such as Social Security benefits, child support, or alimony (if applicable)
  5. W-2 forms for the previous two years
  6. Tax returns from the last 2 years
  7. Checking and savings accounts statements for the last three months
  8. Retirement funds and other investment statements for the last three months
  9. The most recent statements for your credit cards, loans, and other debts
  10. A list of all your assets
  11. Proof of timely rental payments (if you’re not selling a home)
  12. Credit report
  13. If you received a cash gift to use as a down payment, your lender may want written proof that it is truly a gift and not a loan

Take it one step further…

Consider other situations in your life that may cause your lender to ask for additional documentation. For example, if you have been divorced, your lender may ask for a divorce decree. Here are a few situations that may require additional documentation:

  • If you’re self-employed
  • If you or a co-borrower is active-duty military or a veteran
  • If you earn a significant portion of your income from investments

The best route is to find a lender early and discuss with them what documentation you will need.

Get your pre-approval assigned before you make an offer… It builds confidence.


Getting a pre-approval letter jump-starts the process. A lender can review your credit history and determine how much you qualify to borrow. Additionally, your lender can identify potential problem areas that may slow the process down, like a mistake on your credit report (see Hack #1). It can seem counterintuitive to secure pre-approval before you have found a house, but it streamlines the process since you know what you can afford and you already have a lender working on your side. 


In fact, starting with a simple conversation could be the best hack for you!

#entarispowerful #homeloanhacks

Questions about getting preapproved? Leave your comments here

Inside track on fast loan approval. Fill out this online form.

LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]

  Lofts For Sale     Map Homes For Sale Los Angeles

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

Copyright © This free information provided courtesy L.A. Loft Blog with the information provided by Corey Chambers, Realty Source Inc, DRE 01889449; MPR Funding Inc NMLS 2000513. 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 are subject to prior sale or rental. This is not a solicitation if the buyer or seller is already under contract with another broker.