Downtown Los Angeles Home Price Premium – 7 Reasons Why Buyers, Renters and Investors Value

Downtown L.A. Home Prices:  Why do homes in Downtown Los Angeles cost over $600,000 on average, while homes in Chicago cost less than $300,000?

Downtown Los Angeles Couple
Downtown Los Angeles Couple

Supply and demand are the primary drivers of prices. There are many reasons why so many people want to live in Southern California neighborhoods:

Rental Income Properties Under $50,000
Rental Income Properties Under $50,000

#1 Nice weather;  #2 Jobs / Economy;  #3 Many things to do; #4 Better Schools; #5 Better Neighbors; #6 Overall growth / Improvement in the neighborhoods. The #7 reason is that SoCal home prices go up faster and steeper than other parts of the USA, making for a much better long-term return on investment.  #dtla #investment

Get a free list of Top 10 Investment Properties in Downtown Los Angeles. Receive FREE Downtown Best Smart Money Property Listings in your email. Fill out the online form:

 

LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]

Lofts For Sale Map Homes For Sale Los Angeles

SEARCH LOFTS FOR SALE UNDER $500,000 | $900,000 | Top Luxury
Browse by Building | Neighborhood | Size | Bedrooms | Pets | Parking

Find out what the home down the street sold for

Beacon Lofts For Lease Arts District Downtown LA
Beacon Lofts For Lease Arts District Downtown LA

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.

HOME SELLERS: Find out how much the home down the street sold for

FREE COMPUTERIZED LIST WITH PICTURES OF AREA HOME SALES AND CURRENT LISTINGS  #homevalue #homeworth #homeprices

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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.

SOLD Lofts and Condos Downtown LA – Recent Home Prices and Current Home Values

See all homes, listed and unlisted, recently sold around Downtown Los Angeles:

DOWNTOWN SOLD PRICES  |  SOLD UNLISTED  |  RECENTLY SOLD ALL  |  MORE

Pocket Listings Sold in Downtown LA

Find out what the loft down the street sold for.  Get a FREE list of recent condo sales in Downtown Los Angeles.  Did you know that up to 45% of Downtown lofts sold in the last three years were off-market, unlisted and other pocket listings not on the MLS? To receive a detailed listing of all recent home sales and all active listings in your area, visit http://www.lacondoinfo.com/gold_findout.asp, CLICK HERE or fill out the form on this page.

Homes Sold - L.A. Loft Price

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To request free comps for any property, contact:

Your Home Sold GUARANTEED or I’ll Buy It*

Corey Chambers, REALTOR®
(213) 880-9910
sold@laloft.org
http://www.LAloftBlog.com

What's Your Loft Worth? Free quick, online home evaluation

LOFT & CONDO LISTINGS DOWNTOWN LA  [MAP]

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SEARCH LOFTS FOR SALE UNDER $400,000  |  $800,000,  |   $30,000,000
Browse by Building  |  Neighborhood  |  Size  |  Bedrooms  |  Pets  |  Parking  |  More

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*Seller and Corey must agree on price and date of possession.  Realty Source Inc  BRE#01889449

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!

Downtown Los Angeles Real Estate Market Update

Downtown and National Real Estate Market Report

state-park-downtown-los-angeles-view

Probably the best news for real estate is the recent Foot Traffic Report, which shows that there’s been a real strong demand for housing nationwide all year long. It’s not been that up and down spike during the spring season. And probably even the better news, the October numbers; the last numbers reported, are even better than September numbers.

Normally by the end of the year, the demand for housing seasonally starts to fall off. That didn’t happen; not only is it remaining as strong as it was the month before, it’s actually increasing. That’s gigantic news; demands are strong, people are out there; they’re looking to buy. Most agree that interest rates are going to start going up, and they’re coming off the fence right now. But again, that’s the good news.

Let’s take a little look at the not such good #news for #realestate. When we go to the supply side of it, we can see that year over year, we’re way off the amount of inventory we had last year. So demand is way up; supply is down; that’s going to create a challenge. Now if we look at the month’s supply of homes for sale, we can see that what’s the number always hitting? We’re always aiming at? Six months; six months is a normal market.

Ladies and gentlemen, we haven’t had one month this year over 5.2 months. And the last two months, and three of the last four months, have been under five months inventory. That’s not good; it’s not enough. Now part of the challenge we had, and again this is a good news/bad news scenario, the good news is, the percentage of distressed properties nationwide has dropped dramatically since 2012. From 35 percent in 2012, to 9 percent this time last year, down to 6 percent.

So the number of distressed properties, foreclosures and short sales are dropping like a rock. And that’s good news. The bad news is we’re not replacing that inventory. Those are all houses for sale. We have to find other houses that are nondistressed properties to fill that void, because if we take a look at home prices and last look at the FHFA numbers by region.

We can see across the whole country; if normal appreciation is between three and three and a half percent; that’s a normal average annual appreciation, the vast majority of the country is way over those numbers. The only parts of the country that are not at at least normal appreciation are up in the Northeast; the Mid‐Atlantic and New England.  Downtown Los Angeles is at 8% appreciation.

And if prices are going up, we should all feel good that, you know, the market’s getting better; the value of our home is increasing. But we have to realize if those increases happen too quickly, it will start to kill off some of the buyers. Downtown has gone up very quickly of the past few years. Many buyers now cannot qualify to buy in Downtown, or the buyers are finding that the prices per square feet are less competitive with some of the surrounding neighborhoods.

For serious Downtown buyers who are adamant about getting an urban loft or condo, the inventory is simply too low, and the number of buyers is still high as high income buyers and worldwide investors are competing to buy Downtown lofts and condos. The solution for this problem is for buyers to get access to pocket listings, off-market and unlisted properties for sale. Fill out the online form:

Find homes in Downtown Los Angeles:

LOFT & CONDO LISTINGS DOWNTOWN L.A.  [MAP]

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SEARCH LOFTS FOR SALE UNDER $400,000  |  $800,000,  |   $30,000,000
Browse by Building  |  Neighborhood  |  Size  |  Bedrooms  |  Pets  |  Parking

Corey Chambers, Realty Source Inc BRE#01889449

December2015-13

How Much is Your Los Angeles Home Worth in Today’s Market?

How much is your home worth in today’s market? Find out the value of your Downtown loft, L.A. condo or house anywhere in Southern California. Get a free personalized report.

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Get a free, online Comparative Market Analysis (CMA) report, specific to your home. Every home is unique, and each neighborhood is different.  The report includes maps showing locations of recently sold homes, market activity and extra neighborhood information.

FIND OUT HOW MUCH YOUR HOME IS WORTH

FIND OUT HOW MUCH THE HOME DOWN THE STREET SOLD FOR

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Find homes in Downtown Los Angeles:

LOFT & CONDO LISTINGS DOWNTOWN L.A.  [MAP]

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SEARCH LOFTS FOR SALE UNDER $400,000  |  $800,000,  |   $30,000,000
Browse by Building  |  Neighborhood  |  Size  |  Bedrooms  |  Pets  |  Parking

Copyright © 2015 Corey Chambers, Realty Source Inc, BRE#01889449

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Home Prices Downtown Los Angeles Lofts and Condos DowntownLAHomeEval.com

dtla-elysian-151105Those who are thinking of buying or selling a loft or condo in Downtown LA often start by trying to determine today’s selling prices and market values of properties.  Sellers wonder if their property will sell for more or possibly less than the price that nearby properties sold for.  How about the current asking price of properties?  Are the sellers asking too much or will the properties sell for more than the seller is asking for?

When it comes to DTLA home prices, the biggest problem for both sellers and buyers is that it is relatively easy to find the asking price of properties on the internet, but usually difficult to find the sold prices.  Real estate professionals actually use the prices of comparable recently sold properties to determine today’s value and potential selling price of real estate.  The asking price (or list price) is very often too low or too high, although occasionally just right.

http://www.DowntownLAHomeEval.com

200-n-san-fernando-rd-105-028_320x240eLos Angeles home prices have seen strong gains of the past several years.  Downtown prices of course outperformed the rest of Los Angeles County, Orange County and across the U.S.

National figures are not as impressive recently. Sales of nationwide previously owned homes dropped recently.

800-west-1st-street-7th-006_web

The National Association of Realtors reported that pending sales fell last month.

200-n-san-fernando-rd-105-008_640x480 copyDowntown LA provides the happiest story because local homeowners gained an average $48,711 in home value since last year.  The naysayers who said a year ago that Downtown prices were “too high” have again been proven wrong. Downtown has yet again out-performed the surrounding area and the nation. Downtown Los Angeles home prices rose significantly in the 12 months over the previous year.

How much is your home worth?  Get a free online home evaluation at www.HomeEvals.com or fill out the online form:

What's Your Loft Worth? Free quick, online home evaluation

 

Find homes in Downtown Los Angeles:

LOFT & CONDO LISTINGS DOWNTOWN L.A.  [MAP]

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SEARCH LOFTS FOR SALE UNDER $400,000  |  $800,000,  |   $30,000,000
Browse by Building  |  Neighborhood  |  Size  |  Bedrooms  |  Pets  |  Parking

 

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.

Downtown LA Home Eval – Home Prices Los Angeles

200-n-san-fernando-rd-105-028_320x240eLos Angeles home prices have seen strong gains of the past several years.  Downtown prices of course outperformed the rest of Los Angeles County, Orange County and across the U.S.

National figures are not as impressive recently. Sales of nationwide previously owned homes dropped recently.

800-west-1st-street-7th-006_web

The National Association of Realtors reported that pending sales fell last month.

200-n-san-fernando-rd-105-008_640x480 copyDowntown LA provides the happiest story because local homeowners gained an average $48,711 in home value since last year.  The naysayers who said a year ago that Downtown prices were “too high” have again been proven wrong. Downtown has yet again out-performed the surrounding area and the nation. Downtown Los Angeles home prices rose significantly in the 12 months over the previous year.

How much is your home worth?  Get a free online home evaluation at www.HomeEvals.com or fill out the online form:

What's Your Loft Worth? Free quick, online home evaluation

 

Find homes in Downtown Los Angeles:

LOFT & CONDO LISTINGS DOWNTOWN L.A.  [MAP]

button        button (1)        

SEARCH LOFTS FOR SALE UNDER $400,000  |  $800,000,  |   $30,000,000
Browse by Building  |  Neighborhood  |  Size  |  Bedrooms  |  Pets  |  Parking

 

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.

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

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

post-card-cp-watson-alta-front-jr

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

post-card-cp-watson-loft-back

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.