COMING LOS ANGELES REAL ESTATE CRASH – Notice To Downtown L.A. Loft Owners

HOME SELLERS:  BE PREPARED FOR LOWER PRICES IN 2019 / 2020

Scary real estate market of Downtown Los Angeles
Scary real estate market of Downtown Los Angeles

Real Estate Market News (Downtown Los Angeles, CA)  —  The last six months of completed Downtown real estate activity shows very healthy numbers for sellers, and a pricey time for buyers:  Downtown Los Angeles median price is up 3.2% over the last 6 months compared to the same period last year. Inventory of available Downtown homes for sale has dropped by 6.15% over the same period. Homes sold faster with average days on market dropping by 12.9%.  So why is the L.A Loft Blog, along with a few other media, sounding the alarm?

While there is no reason to anticipate a huge downturn in home prices, all of the signs and signals are in  —  most importantly: the feedback from L.A. Loft Blog readers, who really are the final arbiters of truth regarding Downtown residential real estate.  The wallets and calendar of the readers do not lie.  When a Loft Blog visitor spends time and money, (or, in this case, stops spending time and money on something), there is no equivocation, no conjecture and no doubt as to the truth.  L.A. Loft Blog readers (and other prospective buyers, sellers, tenants and landlords) have communicated explicitly through words and actions that they generally have no plans to purchase a home in the next 3-6 months.  At the same time, very few plan to sell in the coming months. This combination indicates a plateau (little or no increase in prices for a sustained period) and a sideways market (a combination of roughly equal up and down prices). #dtla #realestate

DOWNTOWN LOS ANGELES REAL ESTATE MARKET METRICS

The calm before the storm  —  While the median price went up, the average sold price did not budge from the same period one year ago. This indicates that price pressure has already begun. The lowest home sold and the highest home sold prices are down from the previous year. Total volume of real estate sold is down by 6.2% over the same period.  #homeprice

Some say that the bull market may continue a lot longer:

https://www.marketwatch.com/story/why-this-bull-market-may-have-miles-to-go-before-it-sleeps-2018-08-20

Locally, the statistics and the behavior of home buyers shows that we have reached a crossroads.  “In 2019, the loft buyers have started to dry up,” says loft specialist Corey Chambers, Associate Broker with Realty Source Inc.  “My clients and I bought lofts in 2012, and we did very well.  Now, I’m informing prospective sellers that the time has come to consider locking in those gains by cashing out.”

Find out what the home down the street sold for

For those who are considering selling their loft or condo, now is the time to put extra thought into future needs and wants.  Once the market begins to falter, the slide may escalate faster that expected. Or, in this case, real estate could sadly stagnate for an extended period of time.  Because the financial well-being or L.A. Loft Blog readers is on the top of our priority list, we are repeating the warning that we gave recently.  —  And remember, the mainstream media generally gives economic warnings about 6 months after they happen… too late.

HOME PRICES LIKELY TO DROP

We are not going so far as to predict the future, nor to guarantee any economics because there is no way to know how thousands of locals, and millions of individuals nationwide will behave at any time in the future.  Based on the factual numbers and market data that we receive daily from hundreds of loft lovers corroborated by technical sources, we are confident that we can and should disclose the reality of a cooling market, and that we should reveal the likelihood of a mild price slide, plateau or sideways market coming up.

Real Estate Chill:

A slight chill coming for the Bay Area housing market?

More home prices slashed:

http://www.dispatch.com/business/20180816/more-home-sellers-dropped-prices-this-summer-than-last-zillow-says

Find out how much the loft down the street sold for. Get a free list of sold Downtown condos. 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.

SOLD Property Prices Downtown Los Angeles

When we hear someone say “I sold my house,” the first thing we want to know is how much it sold for.  #dtla #homeprices #sold

Sold Properties Downtown Los Angeles
Sold Properties Downtown Los Angeles

The L.A. Loft Blog now has SOLD prices!

When determining the value of a home and trying to figure out what it might sell for, buyers and sellers commonly make the mistake of focusing on listed asking price.  That listing price is only a starting point, while the recently sold prices of comparable nearby properties are the correct prices to look at to determine market value and the likely selling price.  Sold prices are the actual amount of money paid by buyers to sellers when the homes closed escrow.

DOWNTOWN LOFT SOLD HOME PRICES:
Affordable  |  Popular  |  Luxury

How much is my home worth?

Find out what the home down the street sold for

Sold prices are what appraisers, banks, lenders, agents and other real estate professionals look at to determine the real value.  Sold prices are the key to determining how much a seller should ask for a property.  In addition to actually asking the seller what price and terms they need, checking the recently sold prices are the only real way to know how much a buyer should offer for a property.  The asking price is an indicator of a possible price ceiling, and the asking price provides a clue as to what the seller expects to get for their home. Asking price can be pie in the sky wishful thinking, while sold price shows how much home buyers actually forked over of their hard-earned money.  The sold prices, also called comparable prices or comps, must be of comparable nearby properties that sold within the last six months. Sold price is the real price for real estate.

FIND OUT WHAT THE HOME DOWN THE STREET SOLD FOR

Get a free list of sold homes with photos, property details and prices in Downtown Los Angeles or any Southern California neighborhood. 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  |  Popular  |  Luxury  |  Sold
Browse by   Building   |   Neighborhood   |   Size   |   Bedrooms   |   Pets   |   Parking

Homes Sold in Downtown
Homes Sold in Downtown

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.