Also in this article: Loft Down Payments; Corrupt HOA Boards #losangeles
Escape from the Burbs
For those who wish to escape the soul-crushing doldrums caused by monotony and mediocrity of suburban life, big city loft living often reveals the solution. The urban lifestyle provides a more natural social environment that is also more conducive to career and lifestyle efficiency. And think twice about moving to a rural area; cities are safer. Many are unaware that cities are safer than rural areas. Here are some more articles on why suburbs are bad for your mental health, and how Downtown Los Angeles is the cure. #downtown #hoa
While lofts can be purchased with the same low down payments as typical condos and houses, industrial and commercial loft conversions do tend to involve more complications than the average home purchase. Most lenders have little or no experience with loft condo financing. Mortgage brokers, banks and underwriters are usually unaware that a loft is involved until late in the lending process and late in the escrow, when the underwriter checks the building to find out that it is listed is a commercial building instead of a residential building, and that the building has ongoing commercial use, and commercial structure. More than 25% of lofts for sale today involved a building with current or recent litigation or lawsuits. For these reasons, a loft lender is often needed, and sometimes a litigation lender is required for financing. Nearly 40% of loft purchases are made with cash, but the majority still involve financing, usually with around 20% down. Those with less down payment, who have stable financial situations often put just a 10% or 5% down payment. 3% FHA/VA loans are basically out of the questions as their rules don’t match well with condos lately. How about no down payment? Veterans, doctors and lawyers can do zero down loans, but they rarely take advantage of that possibility. Get a free list of most challenging loft buildings to finance, as wells as a free list of loft lenders at www.LALoftLoan.com
COMING SOON IN THE L.A. LOFT BLOG: BAD BOARD 2: From Bad to Worse, Symptoms of a Corrupt HOA Board | See original article Bad Board Part 1
Check out L.A.’s possibilities and dangers of flying cars: ARTICLE
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In the sad and gruesome tragedy of last week’s canine emergency in which a pit bull attacked a small dog in the elevator of Lincoln Heights condominium building Alta lofts, an adorably lovely little pooch suffered a broken jaw and loss of an eye. #altalofts #pitbull
No puppy deserves to experience the living nightmare of a pit bull attack.
While the pup is expected to survive, the horrifying puppy screams shall not quickly be forgotten by the writers of the L.A. Loft Blog. Some residents of the spacious loft building have attempted to sweep the matter under the rug, while a few have called for banning pit bulls and similar breeds, labeling them fighting beasts that are not fit to be pets (they’ve said similar unkind things about the owners of pit bulls). Others have reacted by attacking the victim and the messenger. The purpose of this post is to discuss the dangers, and thus help end up with appropriate solutions so that little loved ones are protected, gentle giants are given proper attention, and dangerous animals are handled with appropriate precautions. #hoa board
The easily preventable recent mauling happened after the L.A. Loft Blog warned of the looming danger a year ago (read Pit Bull Lofts article from March 6, 2018). The pit bull owner, homeowners and their HOA board responded incorrectly then, ignoring or attacking the messenger instead of taking preventative action.
Most condominium associations do not allow pit bulls, and many prohibit all large dogs over 50 lbs. Virtually all condominium homeowners associations prohibit large dogs with aggressive behavior problems and a history of dangerous activities by the dog or its owner. Some members of the Alta lofts HOA homeowners association board have downplayed the urgency.
Regarding the proven danger and extreme legal liability of injurious pit bulls at the normally nice Alta lofts: It’s very interesting that Alta HOA CC&Rs specifically require indemnification. Usually, there is usually no indemnification without a signature specifically agreeing to the indemnification. And even with a specific signature authorization, indemnifications are often tossed out in California court. One board members dismissed the idea of a prompt solution by calling it “complex.” But for every other condo building in the area, it’s not so complex. For Alta lofts, “Dangerous” is a much better representation of the truth. Based on L.A. Loft Blog research, there is every reason to believe that Alta HOA insurance simply DOES NOT COVER PIT BULL INJURIES. Indemnification will not protect Alta homeowners from the guilt of injuries/deaths. Indemnification most certainly will not protect small pets and children. Indemnification will not protect Alta homeowners from all large damages involving pit bull owners with shallow pockets. The fact is that the homeowners and HOA board have been dragging their feet for more than a year on this safety issue. After a serious attack, immediate action is absolutely appropriate. The board members are not acting in homeowners best interests when they fail to disclose liabilities, and then attempt to obfuscate and keep the homeowners unaware of the extreme risks of this very unusual and precarious situation of living with actively injurious offending pit bulls in a California condominium building.
Unfortunately for owners of the stylish industrial conversion live/work residences at Alta, the mauling of a puppy by a pit bull is only the latest bloody icing on the deadly cake. The three most tenured HOA board members were recently subjects of a very rare recall vote after they were accused by many residents of breaching fiduciary responsibilities. The subject board members were then accused of throwing the election by ordering their chosen ballot company to stop accepting votes before a quorum of votes could be received. This unheard of drama came on the heels of a homeowner petition that successfully reigned in the three board members after they concocted a pro-harassment rule for the purpose of increasing legal threats against Alta homeowners in a community already beset with excess litigation. The three clinging board members have squandered hundreds of thousands of dollars of homeowners money to prop up their own paltry power rather than having proper safety rails built onto the hazardous rooftop where two young ladies nearly fell to their deaths.
Upon any crisis, there are almost always new opportunities to learn, heal, grow and prosper for those who are eager to do so. While dog owners have primary responsibility, homeowners and their HOA boards often face ultimate liability for damages that relate to their rules and lack of enforcement. When board members chant that all woes are the fault of others, even a pit bull attack is somehow an opportunity for the three to attack the victims and the messenger. Until Alta lofts community experiences a big change, no healing can be felt.
The three board members still attack, defame and litigate against their critics while ignoring and obfuscating the most dangerous conditions of any condominium in L.A…. a never-ending construction site around homeowners doors, windows and walkways; a blind eye to a rooftop with the extreme deadliness of double unprotected 6-story drop-offs, and a set of active, injurious puppy-munching jaws roaming Alta lofts today.
Let’s hope that this article encourages the simple changes that can turn around the “complex” situation for Alta lofts residents. Residents who own small dogs are counting on the community to exorcise the demon of “Might Makes Right.” Leading area loft real estate specialist Corey Chambers shares his opinion on the subject, “We expect all dog owners, homeowners and HOA board members to respect and protect ALL residents, no matter how ‘small’ they may seem.” Chambers is a long-time resident and small dog owner at Alta lofts.
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