All Downtown loft buildings have issues that prospective buyers want to be aware of. Think DTLA lofts are cool? They are, but they’re all far from perfect. Many have serious problems such as lawsuits and financing problems. Here’s just a few of the issues that buyers should know about:
1100 Wilshire – Chase Bank wear. Lawsuits reduced maintenance. Dwindling reserves.
655 Hope – Claustrophobia. Windows don’t open. No guest parking.
Alta Lofts – Notice of claim. HOA to sue developer – construction defects. Theft.
Barker Block – Lawsuit. HOA suing developer for construction defects.
Bartlett Building – No parking space included.
Barn Lofts – Free street parking is going away.
Beacon Lofts – Nobody knows what it is. No staff.
Biscuit Company – No metro nearby. Getting hard for guests to park.
Bunker Hill Tower – High HOA dues. No washer-dryers in most units.
Concerto Lofts – Lawsuit. HOA suing developer – construction defects.
Cornell Building – Most parking spaces are a block away in skid row.
Douglas Building – Most units have no parking. No guest parking.
Eastern Columbia – High HOA does. Views being blocked.
Eckardt Building – Most parking spaces are a block away in skid row.
El Dorado Lofts – No amenities. Nobody knows what it is.
Elleven Lofts – No fitness center. Shares pool and courtyard with Luma.
Evo – Lawsuit. HOA suing developer for construction defects.
Flower Street Lofts – No views and losing views. HOA dues rising.
Glen Donald Building – Not in Downtown.
Gallery Lofts – Construction next door. Mostly no views.
Grand Avenue Lofts – No character. No amenities.
Higgins Building – High HOA. Coming assessment. No parking. No amenities.
Library Court – No character. Most have no views.
Little Tokyo Lofts – Homeless shelters. Mental clinic. Lawsuit. Water leak.
Luma – Losing views. Glut. Expensive.
Market Lofts – No character. Unfriendly security.
Metropolis Los Angeles – Not built yet. Expensive. China company.
Molino Lofts – Terrace problems. Some units not updated.
Mura Condominiums – Not a loft. Oppressive rules.
Ocenwide Plaza – Not built yet. Stuck in big event traffic.
Ostrich Farm Lofts – Far away. Out in the tulies.
Pan American Building – Nothing for sale. Nobody has heard of it.
Promenade Condominiums – The 80s called. They want it back.
Promenade West – Expensive. High HOA dues.
Puerta Del Sol – Disrepair. Nothing to walk to. Freeway. Black lung disease?
Ritz Carlton Residences – Expensive HOA. Mandatory valet parking.
River House – Freeway noise. Boxy architecture. Delays. Prowling coyotes. Gnats.
Rowan Lofts – High HOA dues. Most have no views.
Santee Village – Most parking spaces are a block away in skid row.
Savoy Condominiums – Not s loft. No character. Some have no views.
SB Grand – Loiterers, renters galore. HOA financials incomplete. Many issues.
Skyline Condominiums – 1980 wants its condos back.
Sky Lofts – No pool. High HOA dues.
SL70 – Not in Downtown. No pool.
Ten50 – Not completed yet. Cramped floorpans. No microwave.
Teramachi Homes Senior Condos – Gotta be a senior age 55+.
Textile Building – Nothing really available. Can’t lease it out.
Title Guarantee – Canceled.
Tokyo Villa Condominiums – 1979 wants its condo back. Weird koi pond courtyard.
Toy Factory – No metro nearby. Slowly losing its street parking. No guest parking.
Toy Warehouse – Noisy floors and thin ceilings.
Vero – Not in Downtown. No character. Most have no views. Thin walls.
Bargain Homes For Sale
How to Find the Best Deals in Los Angeles Real Estate
Now that we are well past Halloween, it seems a bit late to talk about scary real estate topics, but this post will help buyers and investors to get the best deal and generate the best financial results, quickest equity or most profit. The concept to great financial results on a home purchase is to buy an ugly home in a good neighborhood, and then beautify it so it is worth more money. While prices are shooting, up bargains such as foreclosures are getting hard to find. But there are other good deals. Downtown Los Angeles, one of the most booming neighborhoods in the world, offers great opportunities in turning scary lofts into amazing lofts, often by simply adding some relatively inexpensive interior features.
Here is the simple concept: The scariest home in a good neighborhood can become the best investment. Why? Because you can turn the scariest home into an attractive home. Sometimes it’s very quick, easy and affordable.
One example that many home buyers don’t know about — besides location and square footage, one of the most important features to home value is windows, including natural light and view. So buy a home with great windows when possible, but that can cost an extra $5,000 per floor up for high-rise views. What many don’t know — if you buy a dark home with bad windows, you can still follow this successful concept by adding some really beautiful lighting and decor. While a big, bright window with a view is best, a lower cost loft, condo or house (perhaps with low light or with dark area in the back), by adding a beautiful new ceiling lamp that shines near a beautiful home feature or by a work of art subconsciously, a quick fix can fulfill the same desire in the buyer’s brain. A scary home really can be turned into an attractive home.
Other scary properties, such as fixer lofts and raw lofts that are currently unlivable, condos with lawsuits offer tremendous profit potential when buyers have access to all of the information about the problems and solutions. It is free to get priority access and to get proprietary real estate information on Downtown lofts and other L.A. homes for sale.
Get fixer uppers and raw lofts new listings in your email. Fill out the online form:
Prospective Downtowners need to get most amazing loft at the best deal possible. Getting a special deal comes from gaining priority access to proprietary information on properties that the general public is not always able to find.
New lofts are coming to Downtown, as well as some new luxury high-rise condos. The authentic lofts and condos are getting harder to afford, and that’s why buyers are turning to pocket listings to access more genuine historic and industrial lofts that are not on the internet.
For serious buyer who plan to find a great home and want to get the very lowest price possible, a VIP Buyer System and Corey Chambers Savings Guarantee Program are both free ways to get access to additional unlisted properties and save thousands of dollars guaranteed.
Get free information on affordable lofts. Fill out the online form:
In the center of the creative action, the extra-large, raw lofts of 811 Traction are part of the history and new modern style that has helped to propel Downtown’s renaissance. This Arts District neighborhood is ground zero for today’s creative energy .
In a smaller, more private loft building are about 12 oversized lofts with lots of brick and original word flooring. The units are great for conducting business operations with teams, while providing some residential conveniences and living space for those workaholics who are planning the next product launch while sleeping.
At around 2,000 square feet, plus high ceilings, the lofts provide more work space and more cubic space than most locations, plus they are great for those who like to mix
work, pleasure and relaxation in the same space. The lofts can be used for living, working, office and limited retail. Leasing for around $3,900 a month, each unit comes with one optional gated parking space for around $130 / mo. They have a reasonable number of windows with adequate brightness and no views, plus plenty of ceiling fixtures have extra bright fluorescent bulbs. Third floors units have skylights.
With a hodge-podge mixture of quaint economy and a few stylish fixtures and upgrades, the building provides laundry closets with a washer and dryer on each floor. In the back of the building lies a somewhat serene, community patio area with a bit of nature to balance the urban scene.
Most of the lofts at 811 Traction are not listed on real estate brokers MLS, and they rarely come available. Large, raw lofts like this can best be seen with the LALoftTour.com private 3-hour tour that includes these unlisted bargains.
Get free information on LA Loft Tours. Fill out the online form:
Want a good investment? Buy the worst house in the best neighborhood — so say HGTV, Yahoo Finance and Zillow. Here’s the lowest price fixer around the Downtown Los Angeles area. It just needs some updating and refinishing.
You’ve heard all of the hype about the Apple Watch. We’ve decided to join the party.
With the a real estate app on the Apple Watch under development, you’ll be able to find homes for sale nearby, see details about the home and view photos – all from your wrist. The LA Loft Blog is giving you a special link that gives you privileged access to more proprietary information and unlisted properties in Downtown Los Angeles.
Snap the homes you like to reveal hidden details and put the Downtown specialists of the L.A. Loft Blog on standby to answer your questions by phone or email.
Check it all out in this video and then download the free Homesnap app for your smart phone now, and then later you will be able to use it right on your wrist when you get your Apple Watch.
Distress Sales and bank foreclosures often represent a great way to get a fantastic deal on a Downtown loft or condo. It’s not easy for the average homeowner to find these deals, because you have to keep scouring the newspaper and the internet to see when one comes up.
If you’re the type of person who recognizes what a great deal some of these properties could represent, you will be interested to know about a new free computerized service which automatically searches out and downloads a current list of all such properties day in and day out. When you receive this free, no obligation service, you’re automatically plugged in to the most current list of Distress Properties on the market, in the price range and area that interests you. This FREE service every day will save you a lot of research and running around.
Here’s how it works. Every day, as soon as they come out, you will receive a FREE computerized report listing the current Distress properties in your desired price range and location. There is no cost for this information, and absolutely no obligation. This insider information, sent to you in an incredibly simple and efficient format, will give you a huge advantage over other buyers in the marketplace.
How Many Amazing Downtown LA Lofts Will You Miss?
Pocket Listings Provide Plenty of Places to Purchase
How would you like an amazing Downtown Los Angeles loft that more than gains $100,000 in equity in 2 years? How would you like to lose an amazing L.A. loft that could have been a life-changing home and investment? Many of my clients and I have enjoyed experiences closer to the first story, the happy story. At the same time, I have had to see some others experience the second story, the less happy story. What makes the difference between the happy loft story and the not-so-happy story? Of course anyone with $10,000,000 has lots of options. For the rest of us, the most powerful free resource for buyers is knowledge and access to more properties, more information about the properties, and more knowledge about the Downtown loft market.
As more and more buyers try to purchase lofts in Downtown, we are hearing more and more sad stories of buyers who have already been priced out of the market, who wish they would have purchased in 2011 when most were either to broke or too scared to buy a property. Many others have placed offers on a nice loft, only to be outbid or outmaneuvered by another buyer. They lose their dream loft. Still other buyers have searched for a long time, and when they finally placed their offer on the same day of the listing date, the agent completed the paperwork and got it back to them that night. The offer got to the seller the very next morning, but the seller had already accepted another offer. They had seen that happen once before. The best lofts seem to be sold sometimes before they are listed. Are many of the best lofts and condos selling instantly when they are listed or even earlier? This is not our imagination. Many of the best lofts really are sold before they are listed, or shortly thereafter. This is called a “pocket listing.” It is actually a type of unlisted property that is not on the internet and most real estate agents do not have access to them. Some buyers get priority information and privileged access to the pocket listings before they are listed. These lucky and/or smart buyers are called VIP buyers.
One happy buyer — we will call him Jeff Mason to protect his privacy — just sent me an email thanking me for helping him to buy a loft that more than doubled in value in two years, along with a comp listings showing a similar loft that just sold for more than twice what he paid for his loft. How did Jeff do it? Jeff was a VIP buyer.
Another buyer — we will call him Robert Gallagher — was able to place an offer on a resale Barker Block for thousands less than other Barker Block lofts. With only 10% down, he was able to go into escrow with the most desirable loft unit in Downtown with resort-level amenities, low HOA dues, in the coolest neighborhood in the world. He was able to see the property before it was listed on the MLS. How was Robert able to do it? Robert had already lost one unit before. He is a quick learner, and he found out how to become a VIP buyer for free. That’s right!! Believe it or not, it cost him nothing to gain access to these pocket listings, as well ask listings of all agents, including foreclosures, REO, bank owned properties, short sales, distressed properties and raw lofts. Robert got access to the largest number of pocket listings and other unlisted properties. At no cost, Robert joined the VIP buyer program to gain access to the pocket listings. Robert was notified by email and text about a pocket listing in the prized Barker Block building. Robert hear about the property before it was listed to the public, and this time he was the one who was able to see the unit before it was listed, and place an offer before the other buyers were able to. Rob learned how to go from being the guy who watched other buyers steal his dream loft, and even though he only has 10% down, he is now the VIP buyer who was able to buy a dream loft before other buyers ever knew it existed. This time, it was the other buyers who missed out, not Robert.
The biggest secret in Downtown is pocket listings and other unlisted properties. Knowing about unlisted properties is the first step. There are many other advantages that buyers absolutely need in order to get maximum advantage. Buyers need access to the largest number of foreclosures, bank owned, company owned, REO, short sales, fixers, raw lofts and other distressed properties from all agents. To get the lowest price, the buyer should also use a Downtown specialist agent who knows what lofts in the building sold for less than 30 days ago, before it gets listed on the MLS. Downtown buyers need to access boldest, most powerful strategies that are required to help the average buyer beat out wealthy international cash buyers who are trying to buy the same unit. Using an out-of-area agent is just not worth it. It is simply not worth it to use an agent who does not have access to the very largest number of pocket listings and unlisted properties in Downtown. To get every advantage, Buyer’s absolutely must join the VIP buyer’s program to work with the buyer’s agent team with the largest number of pocket listings in Downtown.
Prices have risen. The number of buyers has increased. The number of easy bargains has decreased. The average buyer today is getting crushed by wealthy investors, cash buyers, and VIP buyers who are buying the property before the average buyer sees it. It is no longer effective to be the average buyer. Every buyer must use the most powerful free tools available.
To get the the best investment and best deal on an amazing loft, become a VIP buyer, and gain free access to the largest number of distressed properties and unlisted properties. Those who are not ready to work with an agent can immediately take advantage of the free Downtown real estate information at http://www.LAcondoInfo.com while buyers who are ready for the best deal today should immediately call the buyer’s team with the largest number of Downtown unlisted properties and distressed properties. Call Corey Chambers at (213) 478-0499 and become the VIP buyer who is able to beat out other buyers to the best deals.
Get free access to up to twice as many amazing lofts in Downtown Los Angeles. Fill out my online form:
The #1 Downtown buyer’s agent with 19 successful buyer transactions closed in 2013, Corey Chambers is a Realtor®, and member of the Top 6 award-winning, 5-Star Yelp rated team. J.D. Power Award 2012 – Keller Williams Realty ranked Highest in Overall Satisfaction for Home Buyers and Sellers Among National Full Service Real Estate Firms. DRE#01889449
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Our Exclusive Buyer Profile System saves you Time and Money. Simply tell us what you’re looking for and get priority access to ALL homes that match your criteria, including Bank Foreclosures, Company Owned Properties and other Distress Sales.
No more wasted time looking at out-dated information in newspapers or searching the internet. Priority access means you’re there first before other buyers, so you can negotiate the lowest possible price and your time is not wasted viewing homes that don’t interest you.
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FAB 5 TOP PROPERTIES FOR SALE
THIS WEEK IN DOWNTOWN LOS ANGELES
Sky Lofts #1207 – Awesome Downtown views in every room with wall-to-wall quiet windows in this 1,440 Sq Ft 2-bedroom, 2-bathroom luxury Sky Lofts high-rise loft with private bedrooms, panoramic views of the Financial District skyscraper skyline and historic core. With huge, floor-to-ceiling windows each bedroom brings breathtaking views and a full bathroom (master has two sink basins, separate bathtub and shower) and walk-in closet. One bedroom separated by a corner, the other by a stunning designer sliding door. Secure, enclosed two parking spaces connected to building. Beautiful thick textured hardwood floors, 10 foot high finished ceilings, solid core / STC rated doors. Solar shades with black-out window shades. Upgrades include custom lighting, half with dimmers, additional outlets and switches throughout. Large gourmet kitchen with stainless steel appliances including gas range, Caesarstone counters, and sleek Italian cabinets. Bosch washer and dryer in unit. Pre-wired for Internet, phone and cable TV. Sky Lofts building features Sky Lounge, Sky Theater, Sky Fitness Center. Walk to shopping, groceries, Metro, pubs, restaurants. – See more at: http://www.laloftblog.idxco.com/idx/11753/details.php?idxID=240&listingID=14788079
Textile Lofts #404 – The lowest price for bright genuine loft corner unit with view and convenient parking. Live and work loft in an historic building in downtown Los Angeles’ Fashion District. This classic building is Mills Act approved, giving owners substantial property tax savings. Shared amenities include swimming pool rooftop and spa patio, gym and more. New appliances, large walk-in closet, and lots of charm. – See more at: http://www.laloftblog.idxco.com/idx/11753/details.php?idxID=240&listingID=14754613
Higgins Building #612 – Large designer loft with big bedroom and closets. Located in the historic Higgins Building, diagonal from Parker Center in beautiful, vibrant Downtown LA. Live/Work Loft with high ceilings, concrete floors, w/d inside and huge windows. The building was restored to its prime with original Mosaic Tile Flooring, Zinc Covered Doors and Windows Imported Marble Wainscoting Throughout Hallways, Period Ironworked Hand railing, Polished Concrete Floors, Exposed Ceilings and Gourmet Stainless Steel Kitchens. Building features include Classic Beaux-Arts Architecture, Iron Caged Elevators Rebuilt in Birds Eye Maple, Rooftop Common Area and 24/7 Security Guarded Entrance. Pitfire Pizza and Groundworks Coffee are located at street level. Walk to local parks and attractions and become part of LA’s urban lifestyle. You won’t believe what you’ve been missing! – See more at: http://www.laloftblog.idxco.com/idx/11753/details.php?idxID=240&listingID=14793353
Bartlett Building #803 – Remodeled kitchen, genuine loft with a hard-to-find real bedroom. Location! Beautifully remodeled loft with all new kitchen and bathroom. High ceilings, plenty of light and many vintage details. Kitchen has all new cabinets, gorgeous counters, tile and stainless steel appliances. Bathroom is all new with tile and tub, new sink cabinet and beautiful high-end finishes and fixtures. Stacked washer & dryer included. Large office or dining area off of kitchen and a Real separate bedroom with closet. Located on the quiet side of the building. Very little street noise. No other loft for sale downtown of this quality at this price. Excellent location, right in the center of everything that is happening downtown. Walk to all the restaurants, bars and retail. Close to FIDM, Ralphs, LA Live and the new Whole Foods coming in 2015. Easy access to the 101, 110, 10 and 5 fwys. – See more at: http://www.laloftblog.idxco.com/idx/11753/details.php?idxID=240&listingID=14775645
Library Court #201 – Short sale offers a special opportunity to negotiate a great deal in the very highly desirable Financial District. Short Sale subject to Lender approval! Live in the best location of Downtown LA with a contemporary open loft floor plan featuring direct access to the Zen Garden located on the second floor. The living space has floor to ceiling windows allowing for great views of the city below. High ceilings, wood flooring, open kitchen, stainless steel appliances and granite counter tops exemplify a contemporary urban lifestyle. This unit includes a vented washer & dryer and one deeded parking space. Library Court provides 24-hour security, fitness center, sundeck and game room. It is located within close proximity to Ralph’s grocery store, newly announced Whole Foods, The BLOC on 7th and the newly renovated retail shopping center at FIGat7th. Just outside your front door you will find easy access to numerous restaurants and bars, Central Library, FIDM and USC campuses. – See more at: http://www.laloftblog.idxco.com/idx/11753/details.php?idxID=240&listingID=14768209
Unlisted Foreclosure – Historic loft with bright windows, views and fitness center. Distress Sales resulting from bank foreclosures often represent a great way to get a fantastic deal on a loft. It’s not easy for the average loft buyer to find these deals, because you have to keep searching to see when one comes up. If you’re the type of person who recognizes what a great deal some of these properties could represent, you will be interested to know about a new free service which automatically searches out and downloads a current list of all such properties day in and day out. When you receive this free, no obligation service, you’re automatically plugged in to the most current list of Foreclosure Properties on the market, in the price range and area that interests you. You can also have access to updates of the list as new properties are added to it. – See more at: http://www.lacondoinfo.com/gold_distress.asp?unlisted-foreclosureID-14897877
More Top Properties – Get the listings that exactly match your criteria as soon as they are listed. Our Exclusive Buyer Profile System saves you Time and Money. Simply tell us what you’re looking for and get priority access to ALL homes that match your criteria, including Bank Foreclosures, Company Owned Properties and other Distress Sales. Fill out the online form or see more at: http://www.lacondoinfo.com/vip_buyer.asp?idxID=240&listingID=14799270
FIND OUT WHAT THE CONDO DOWN THE STREET SOLD FOR
Taking a look at what lofts in Downtown have sold for is a great way to educate yourself on the marketplace. Knowing what a nearby home sold for can help you determine what your home might sell for if you decided to put it on the market. We can give a head-start by giving you privileged access to a FREE computerized printout of recent Home Sales and Current Listings mailed to you at No Cost or Obligation.
Free computerized list w/pics of area home sales and current listings. www.LAloftPrice.com or FREE recorded message 1-800-791-4541 ID# 1041