New Construction – Page 24

River House 2970 Ripple Place, Los Angeles, CA 90039

Real Estate News – Special Update

Near Downtown Los Angeles and Dodger Stadium in the up and coming Frog Town neighborhood in the Elysian Valley of Los Angeles, 56 new condo units under construction are approaching completion. The L.A. Loft Blog has learned that the concrete is now being poured, which will allow home shoppers to enter the sales office within the next few weeks.

To avoid making the biggest mistake that new home shoppers most often make, visitors are required to meet first with a real estate agent in order to be eligible to get free home buyer protections such as information on the pros and cons of the construction, down sides of the development, negatives of the neighborhood and drawbacks of a potentially bad deal. For new construction homes, the biggest disasters happen when an unsuspecting couple walks in to take an innocent quick peak at the new building, get a gander of the hip, chic new models, and then unexpectedly find that they immediately fall in love the sparkling new digs. They then quickly learn that they have fallen into a common trap, and that they will not be allowed to use an agent, they must endure the pushy sales office telling them to immediately begin signing away even more of their rights. They end up buying a property without knowing if they got a good deal because they did not get a 2nd opinion from a local professional, they did not see a list of recently sold comparable properties, they were not informed of all of the problems of the building and neighborhood, and the buyer’s interests were not placed above the interests of the seller.

Like fly-by-night operations, new homes sales offices are temporary in nature, and they are not usually around for long. They usually disappear quickly after the homes are sold. The state of California has provided a way of helping to prevent new home mistakes and to protect prospective home shoppers before they step foot into a new real estate development sales office. Before making an appointment to see the new homes, visitors should determine if there is any chance that they might want to make a move within the next six months. If so, the potential home buyer can easily protect their rights, get free home buyer protection, place their interests above the seller’s interests and save thousands of dollars guaranteed when they find a place they like.

Get priority access and beat out other buyers to the best deals. Fill out the online form:

<a href="https://laloft.wufoo.com/forms/z809dha1yg6zro/" target="_blank" rel="noopener noreferrer">Fill out my Wufoo form!</a>

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Copyright © 2016 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 River House or Anastasi Development. 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.

Surging real estate development is transforming the city’s center.

Variety reports that Downtown Los Angeles is getting a makeover to the tune of $16.5 billion in new development. Improvements include the addition of a large number of mixed-used projects that combine street retail with highrise living. This includes a new Whole Foods supermarket that recently opened, many small, independent restaurants, three new breweries, several art galleries, boutiques and a revitalized Grand Central Market in the Historic Core.

Apartment construction is roaring ahead at a fast and furious pace as more than 10,000 units are under development to fill the huge demand. New construction includes Greenland USA’s three mega-towers at Metropolis on the border of South Park and the Financial District, a $1 billion investment. On Downtown’s northern edge, the Arts District offers incredibly hip lifestyle options from the world’s longest apartment building, the modernist One Santa Fe to the Garey Building’s more traditional 320 brick-clad apartments nearing completion.

Most of the development is residential, and most of that is rental and hotel.

The L.A. Loft Blog recently reported MLS data showing Downtown price increases of 8% in 2015. Variety reports an even higher Downtown condo prices increase of 15% in 2015. Property values have risen overall by more than 150% over the last 17 years, per statistics from the downtown Business Improvement District. For coming years, the new addition of buildings under construction will bring increased selection for prospective buyers as projects like Metropolis and Trumark Urban’s TEN50 spring up.

Greenland USA’s Metropolis plans to open later this year: the 6.3-acre, 1,500-unit project north of L.A. Live will start with a 38-story residential tower and a 350-room hotel called Indigo. Metropolis will then add a 40-story tower and a 56-story tower.

Trumark Urban is quickly building TEN50, a 150-unit modern condominium at 10th and Grand. The sales office is now taking appointments. Residences in the 25-story tower start at 600 square feet, and range up to 4,000 square feet Amenities will include a yoga garden, private screening room — and even a shopping delivery drone landing pad!

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