Exposed: ChatGPT’s Shocking Flaws in Listing Downtown LA Condos – Is A.I. Ready for Real Estate?

This A.I.-generated photo of a future A.I.-controlled Los Angeles looks quite bleak. Can A.I. do real estate?

It’s all the rage, but how complete and accurate is A.I. Artificial Intelligence writing tool ChatGPT in listing all of the condominium buildings in Downtown Los Angeles? We asked the powerful technology to kindly tell us which condos exist in DTLA. What did it get right, and what went wrong (❌)? Here’s how ChatGPT responded to our simple test:

Prompt: Please list Downtown Los Angeles condominium buildings

ChatGPT: 🤖 Here are some of the downtown Los Angeles condominium buildings:

  1. The Ritz Carlton Residences at L.A. Live
  2. The Eastern Columbia Building
  3. The Skyline Condominiums
  4. The Promenade West
  5. The Biscuit Company Lofts
  6. The Little Tokyo Lofts
  7. The Barker Block Lofts
  8. The Market Lofts
  9. Evo South
  10. WaterMarke Tower(not a condo)

Please note that this list is not exhaustive, and there may be other condominium buildings in downtown Los Angeles that are not included here. 🤖

Prompt: more

ChatGPT: 🤖 Here are some additional downtown Los Angeles condominium buildings:

  1. The Metropolis Tower I & II
  2. The Grand Tower ❌ (not a condo)
  3. The Luma
  4. The Elleven Lofts
  5. The Concerto
  6. The 1100 Wilshire
  7. The Vero
  8. The Bunker Hill Tower
  9. The Summit on Sixth ❌ (Koreatown, not downtown)
  10. The Flower Street Lofts

Again, this is not an exhaustive list and there may be other condominium buildings in downtown Los Angeles that are not included here. 🤖

Prompt: more

ChatGPT: 🤖 Here are some more downtown Los Angeles condominium buildings:

  1. The Elysian ❌ (not a condo)
  2. The Sky Lofts
  3. The Rowan Lofts
  4. The Beacon Lofts
  5. The City Lights ❌ (not a condo)
  6. The Gallery Lofts
  7. The Molino Street Lofts
  8. The Douglas Building Lofts
  9. The Toy Factory Lofts
  10. The Textile Building Lofts

Please note that this list is not comprehensive and there may be other condominium buildings in downtown Los Angeles that are not included here. 🤖

Prompt: more

ChatGPT: 🤖 Here are a few additional downtown Los Angeles condominium buildings:

  1. The Pan American Lofts
  2. The Higgins Building Lofts
  3. The Savoy Condos
  4. The Cornell Building Lofts
  5. The Shy Barry Grand Lofts (AKA SB Grand)
  6. The SB Tower ❌ (not a condo)
  7. The Bartlett Building Lofts
  8. The Beaux Arts Lofts ❌ (not a condo)
  9. The Eastern Building Lofts ❌ (not a condo)
  10. The Gallery Art Condos ❌ (Miami, not downtown L.A.)

Again, please note that this list is not exhaustive and there may be other condominium buildings in downtown Los Angeles that are not included here. 🤖

Prompt: more

ChatGPT: 🤖 Here are a few more downtown Los Angeles condominium buildings:

  1. The Bunker Hill Tower
  2. The Teramachi Homes
  3. The Grand Lofts ❌ (not a condo)
  4. The Mercury ❌ (Koreatown, not downtown)
  5. The Skyline Towers
  6. The SB Grand ❌ (Repetitive, see Shy Barry Grand above)
  7. The Terminus ❌ (not a condo)
  8. The Vero Lofts ❌ (Repetitive, see above)
  9. The Rowan Building ❌ (Repetitive, see above)
  10. The Barker Block Warehouse No. 1 ❌ (Repetitive, see above)

Once again, please note that this list is not comprehensive and there may be other condominium buildings in downtown Los Angeles that are not included here. 🤖

As you can see, ChatGPT got most of them, but does not get everything correct or complete. It does quite a job of being human like, and providing lots of information. At first glance, ChatGPT is extremely impressive. It is quite useful as a tool, but had plenty of major down sides. It tends to be good at suggesting some important basics, but it is not always 100% reliable. It does not always include all desired information. ChatGPT tends to stick a “The” in front of every building, even if it is not normally done. It does not give the web address links — we added those for your convenience. ChatGPT sometimes includes totally wrong information, and often repeats itself unnecessarily. It should be more up-to-date, but is instead outdated, lacking information from the last 2 years. It is biased toward groupthink, biased toward the establishment, biased toward censorship, biased toward demagogy; and biased toward stodgy, tyrannical thinking. Programmed to blindly follow mob mentality, ChatGPT goes out of its way to harshly criticize any opinions or thinking that are critical, original or out-of-the-box. These are some of the frightening and dangerous drawbacks of such a potentially powerful tool.

A complete list of condo and loft buildings is at www.LALoftBuildings.com.

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Your next real estate agent? A.I. is getting quite impressive — and equally disturbing. Photos: DALL-E

Copyright © This free information provided courtesy L.A. Loft Blog with information provided by Corey Chambers, Broker CalDRE 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.

Shocking Drop in L.A. Property Market: Listings Selling at 300% Slower Rate and Total Volume Crashing – See What’s Happening with Urban Home Prices!

Downtown Los Angeles Real Estate Market Report February 2023

REAL ESTATE NEWS — The urban L.A. property sector continues to drop following 5 months of softening market numbers. February this year brought less than half as many listings sold, as properties take about 300% longer to sell compared to the same period in the previous year. Here are the numbers for Feb.:

2022 saw 63 listings sold; average DOM 40; median DOM 14; median price $540,000; average price $834,000; total volume $53 million

2023 only 28 listings sold; average DOM shot up to 55; median DOM up to 46; median price $600,000; average price $666,000; Total volume dropped to under $19 million.

The real estate market in urban Los Angeles is continuing to decline, with February 2023 showing a significant drop in listings sold and properties taking 300% longer to sell compared to the same period in the previous year. In 2022, there were 63 listings sold with an average of 40 days on the market, while in 2023, only 28 listings were sold with an average of 55 days on the market. Median and average prices also increased in 2023. Statistics based on real estate professionals multiple listing service data for DTLA and nearby loft neighborhoods MLS areas 23, 42 and 1375.

Get a free list of live/work lofts for sale or lease in LA. Fill out the online form:

Copyright © This free information provided courtesy L.A. Loft Blog with information provided by Corey Chambers, Broker CalDRE 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.