Category: condos

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Lawsuit at Alta Lofts – Loft Litigation

More than 20% of currently listed loft buildings in the Downtown Los Angeles area are currently or recently engaged in some kind of lawsuit or litigation. Alta lofts homeowners association recently disclosed that it may soon be embroiled in litigation in the near future.

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Because these claims and disclosures are written by lawyers, and you might say “salesmen” for the law firms, they are careful to disclose the responsibilities of the homeowner’s association representatives to investigate and make repairs, but perhaps the letter neglects to include the responsibility to weigh the pros and cons of claims and litigation, including such drawbacks as inspection costs, legal and potential litigation costs, cost of possible reduced home values for up to several years, potential delays in selling properties, possible lending and refinancing issues and possible (albeit rare) loss or counter suits from developers, as well as other unexpected costs that could arise.alta-lawsuit-02

Also embroiled in this type of HOA vs developer legal action is the popular Barker Block lofts. Buyers often have difficulty getting a copy of the full litigation documentation, which also can cause some potential home buyers to get cold feet and place downward pressure on prices during the lawsuit.

There are many issues surrounding these common claims and lawsuits by homeowners associations against builder developers.  Potential buyers and sellers should consult with attorneys to understand the lawsuits, and should consult with Downtown specialist realtors to learn the practical effects of litigation on the real estate market and home values of the affected properties.

Get free information on Downtown lawsuits and litigation. Fill out the online form.

Alta Lofts Building

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When to Buy and Sell Downtown Lofts – The Real Estate Market Barometer

Is It Time to Sell or to Keep Buying Downtown Real Estate?

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alta-loft-for-sale-200-n-san-fernando-rd-305-03Ever wish you had a crystal ball for Downtown L.A. loft and condo home values? While many home buyers and sellers must follow their own personal needs when it comes to timing, those who are most profit-minded will attempt to buy low and sell high in order to maximize return on investment. Downtown has demonstrated itself to be a market timing barometer of sorts that can tell us when to buy and sell by comparing Downtown to the rest of the country.

During the 2008/2009 economic downturn, Downtown Los Angeles experienced a timing cycle that was different from the rest of the USA. Downtown L.A. continued to boom for almost another full year after U.S. real estate values real-estate-valuesin general began to stagnate and decline in price.  In 2012, the national news was still reporting on the faltering and declining economy while Downtown Los Angeles was already beginning a huge, rapid boom. As the media was warning about a bleak future preceded by a coming wave of foreclosures (which never came) the boom in Downtown was already beginning.  But most did not hear about the Downtown boom until much later because even the local news was reporting the national news on real estate. Even our own local newspaper, the Downtown News largely ignored Downtown’s real estate turn-around until the mainstream news began to give some positive information, again almost a year later.

South Park Downtown Los Angeles

While past results do not necessarily predict future results, what else is there to go by? Based on what we have seen before, if the U.S. is about to go into a recession or some kind of funk, Downtown is predisposed to keep booming for about 10 months.  Then astute buyers and seller need to keep an eye on the actual real estate market in Downtown to see when to invest heavily in Downtown real estate. One thing is for sure, we cannot rely on the mainstream news to keep us informed on Downtown real estate trends.

If history repeats itself, which it usually does, Downtown property owners will have 10 months to consider selling at a high price before Downtown homes join the downward slide (which economists recently predicted to happen in 2018 or 2021 depending on whom you believe). By the same token, Downtown homeowners currently have an additional 10 months to load up on real estate while the U.S. continues to gain ground.

Keep your finger on the pulse of the market by seeing what has sold recently in Downtown with these free tools:

FIND OUT WHAT THE HOME DOWN THE STREET SOLD FOR

GET REGULAR DOWNTOWN MARKET SNAPSHOTS

FIND OUT HOW MUCH YOUR HOME IS REALLY WORTH

SOLD in Downtown Los Angeles

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P.S. Your Referrals Help The Kids!   $125 donation goes to help the extraordinary kids in need at Childrens Hospital Los Angeles on every home we sell this year.  Help us help Childrens.  Who do you know considering making a move that would benefit from the services we provide?  Call me at 213-880-9910 with their contact info, or have them contact me.  You can also visit http://www.ReferralsHelpKids.com.  Thank you in advance!

Copyright © 2015 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 necessarily associated with the home owner’s association, seller 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.