Los Angeles Real Estate News

Cracks in the Los Angeles Real Estate market: Worse than Reported?

Count on the faltering mainstream news and real estate websites to continue to get it wrong for several more months at least. Reports of “Real Estate Stable” and “Real Estate Not So Bad” are based on outdated, political or commercial opinions, not empirical facts. The popular news sources generally look at old data, while the real estate websites try to focus narrowly on whatever positive, uplifting information they can provide. Realtor.com tries to be supportive of real estate professionals, but falls short in providing enough helpful insight into declining markets, falling prices and cyclical downturns that uncover the best deals in loft living. #losangeles #realestate #news | Blog Video

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The L.A. Loft Blog makes strong efforts to look at all sources of data to give the most accurate, actionable news and projections — regardless of common perceptions of good or bad news. The truth is important because inaccurate news leads to poor judgements and unprofitable financial decisions. By surveying all viewpoints and all angles, the Loft Blog gives the ups and downs, pros and cons, good and bad. This whole truth approach helps home buyers, sellers, renters, landlords and investors to get the best results by taking advantage of massive silver linings, and turning lemons into the most refreshing of lemonade. Other occasionally helpful sources that we’ve identified include LA Curbed (which wonders if the housing market is recovering, and admits that it’s having a hard time making sense of housing data) and The Real Deal. Well, we have answers for you, LA Curbed: No, the housing market is not recovering; it’s getting worse. LA Curbed astutely points out growing consternation between landlords, tenants and the city government, amplified by corona panic eviction freeze and explosion of expensive bureaucracy to make L.A. Law firms rich! L.A.’s chaotic rent-control love triangle is sure to get more dramatic, as the entire real estate sector has only just begun to run a gauntlet of a painful path.

The real news, and the true facts are about the collapsing housing market, and how billionaires associated with JPMorgan and Fortress are planning to take advantage of the rapidly falling property prices as part of the largest wealth transfer in history, from the middle class to the wealthy.

The LA Loft Blog analyzes thousands of data points every day, including daily MLS numbers, and direct daily communication with home buyers and sellers. Home prices are falling faster, with much deeper effects than what the mainstream media can fathom.

Find out what the loft down the street sold for. Fill out the online form:

LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]

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Los Angeles loft buildings: Pride and stability? Or prisons of price collapse?

Copyright © 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 associated with the homeowner’s association 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.

Downtown Los Angeles Real Estate Market Report April 2020

NEWS — Property Price Collapse Accelerates

April L.A. urban property market delivered expected abysmal sales figures with total sold listings down by more than 50% from the same month in 2019. The median sold price fell by $15,000. The average price per square foot is down by 4.14%. Home sales total dollar volume fell 64%. Fear has hit the Greater DTLA home transaction arena with 72% more failed listings. Take a look at the falling market:

20192020
Listings Sold3817
Median Sold Price$660,000$645,00
Avg Price/Sq Ft$667.41$639.80
Total Volume$33 Million$12 Million
Failed Listings3662

We have not received data about days on market because that metric is not being reported, having been temporarily suspended by TheMLS due to coronavirus. We can presume that the days on market is likely equal or greater than the 80 days average that the L.A. Loft Blog reported last month, based on data from Downtown and nearby loft neighborhoods MLS areas 23, 42 and 1375. | Blog Video

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The number of expired, cancelled and withdrawn listings has increased dramatically. The number of failed listings has also shot up, nearly doubling from 36 failed listings in April of 2019 to 62 failed listings in the same month of 2020.

Find out what the home down the street sold for. Get a free list of recently sold homes in your area. Fill out the 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 and LAcondoInfo.com with information provided by Corey Chambers, Realty Source Inc, BRE 01889449 We are not associated with the homeowner’s association 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.