Sold in Downtown Los Angeles – Lofts and Condos Recently Purchased and Leased: Home Prices

How much did these new Downtowners pay for their lofts, condos and apartments? And how do they like them?   #sold #homes #dtla


NCT LOFTS

It’s so exciting to move into a new loft because they offer so much space for so many possibilities. Lofts are a big box like a 3-dimensional canvas that allows for great creativity and more flexible lifestyle for live/work, entertaining or just relaxing at a very special private space after a long day of work.  This NCT 2-level penthouse was snapped up by an L.A. Loft Blog reader.  The extra large corner unit loft

Enjoying NTC Lofts Downtown Los Angeles
Enjoying NTC Lofts Downtown Los Angeles

with lots of big windows and a real bedroom, all in a genuine historic loft building with a fantastic rooftop deck. Rental #prices range around $2,000 to $6,000 per month for lease.

Alana recently moved into her historic 2-story loft abode, and fell in love with the atmosphere and views.

L.A. Loft blog readers are picky, and they demand an excellent location and exceptional character in a home.  Historic and industrial lofts of Downtown provide that chic, hip style with super practical open floor plans, in great walking areas near shops, restaurants, bars, pubs, entertainment and transportation.   |   LOFTS FOR LEASE

RIVER HOUSE

River House CourtyardDoug Nasr just moved into his 3-bedroom, 2-story condominium unit at River House. He’s enjoying his sparkling new construction townhome with a private balcony and park views next to the revitalizing Los Angeles River and Marsh Park. Best of all, he got wood flooring, and saved thousands of dollars off the price and upgrades by taking advantage of a free home buyer protection program.  River House condos sold for $499,000 to $899,000.   |   NEW HOMES

HOME SELLERS: Find Out What the Loft Down the Street Sold For

 

Find out what homes recently sold around Downtown Los Angeles, and how much the buyers paid for them. Get a free list of area home sales with prices and photos, along with a list of currently available homes for sale. Fill out the online form:

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SEARCH LOFTS FOR SALE UNDER $500,000  |  $900,000  |   Top Luxury
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River House new homes with park view by the Los Angeles River

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. Some names may be changed to protect privacy.  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.

Are Rents Declining in Downtown Los Angeles?

REAL ESTATE NEWS  —  Many Downtown area homeowners received a post card recently from a loft specialist real estate company stating that rents are declining.  Because the L.A. Loft Blog is the authority of Downtown Los Angeles real estate, we’re going to help determine if this is true.  Are rents really going down in Downtown L.A.?   #rentprice #dtla

Are Downtown L.A. Rents Going Down?
Are Downtown L.A. Rents Going Down?

RENT PRICES

The post card fails to include the exact beginning and end period, and also does not mention the comparison period.  The statistical statements therefore are not complete, and so it’s like saying a car is going 55 or 75 without saying miles per hour or kilometers per hour etc. The same is true when talking about rental rates. Panic selling is rarely a good idea, so Downtown home owners and landlords want to know the real details of what is happening to the DTLA rental market.

To know the real state of rents in Downtown, we need to look directly at the MLS Multiple Listing Service data, and compare the specific time periods.  The generally accepted time period to observe in real estate is the past 6 months (the recent market period), and then to compare that to the same 6 month period in the years earlier.

We’re not going to use average because the MLS data contains errant massively incorrect data.  Median is more accurate (the middle number), so lets take a look at the real median rental price for those specific periods:

2015 $2,550  Downtown LA Rents 2015 (pdf)
2016 $2,740  Downtown LA Rents 2016 (pdf)
2017 $2,750  Downtown LA Rents 2017 (pdf)

So looking directly at the real MLS data, we can see that rents are generally not going down, but the rate of increase has most certainly gone down. A stabilization has occurred. No need to panic. In fact, the opposite is true. The right amount of new apartments have been built so that the thousands of new Downtown residents might not need to encounter huge rent increase in the near future, and landlords will likely not be able to raise rents dramatically. Downtown Los Angeles landlords will also not likely need to implement the 65% rent reduction that the recent postcard seems to suggest.

Get free information on apartment and loft rental tours in Downtown Los Angeles. Fill out my online form:

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What's really happening wth Downtown Los Angeles apartment rental prices?
What’s really happening wth Downtown Los Angeles apartment rental prices?

 

Downtown Los Angeles Homes Sold Prices

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.

JUST SOLD – LITTLE TOKYO LOFTS 420 S SAN PEDRO ST

Knowing what sold recently is the most reliable way to discover the current home value.

Just Sold Little Tokyo Lofts

HOME PRICES

findoutwhat-1041 copyBy  learning what people actually paid for a property, we don’t need to guess as to what buyers will pay today.  The Listing Price (or Asking Price) can help to understand the psychology of the seller, but they are only accurate predictors about 1/3 of the time, as about 2/3 of properties in downtown sell for significantly more or less than the asking price. #dtla #sold

Property Values:  The above Little Tokyo Loft 3rd floor unit sold this week. Since it went into escrow, prices have increased while inventory has shrunk because the unit was purchased during the holiday season.  The busy real estate season in Downtown Los Angeles starts Jan 2 and stays busy all the way until October 29.

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The Little Tokyo Loft south side unit sold for a bit less than the asking price. The unit has a leak in the rooftop drain pipe that extends vertically all the way through the building. The pipe is more than 100 years old, and leaks slightly whenever it rains hard. The Little Tokyo Lofts Homeowners Association is again trying to repair the leak.  The HOA is being sued by another residents who had a leak in his unit, that damaged his rare hollywood prop wallpaper.  Find Downtown and L.A. recently sold loft prices at www.LALoftPrice.com.

Find out how much the loft down the street sold for.  Request a free list with sold prices. Fill out the online form:

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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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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 CoreyHasTheBuyers.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.

Buy, Sell and Lease Downtown Los Angeles – 2016 Year in Review #homeprices #losangeles

Congratulations to JB on getting an amazing loft in Downtown Los Angeles!

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find-out-soldFor helping buyers, sellers, renters and landlords in Downtown Los Angeles, 2016 was a remarkable year. It brought the best December ever in my DTLA real estate career, and foretells of a very bright 2017 for Downtown Los Angeles. It has been so very fortunate to work with such powerfully bright and earnestly thoughtful people. Thank you to my amazing clients of 2016: Adam, Jeff, Joan, Derick, Jamica, Jim, Julie, Marie-Elizabeth, Nicole, Sandy, Jennifer, John, Alex, Ed, Lee, Lauren, Chris, Elizabeth, Jim, Julie, Noush, Terry and Monica. See some of their lofts and condos https://www.wevideo.com/hub#view/805546194 and see what sold most recently in Downtown L.A.

Downtown buyer review:  Corey was very helpful in understanding the DTLA loft inventory and comps. As a local, he knows a lot about this area. Communication was fast and clear, no issues with reply time. He was on time for meetings and there were no issues or delays in person.  —  JB

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2016 DTLA Real Estate Market Report: In Downtown Los Angeles, fewer homes sold, and they took longer to sell in 2016, but prices increased. The 2nd half of 2016 saw 38 fewer homes sold in Downtown LA compared to the same period of 2015. Average days on the market increased from 59 in 2015 to 69 in 2016. Downtown L.A. home prices increased from $621,852 to $657,214.

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New Lofts Interest List – Get a free list of new lofts and condos in Downtown Los Angeles. Fill out the online form:

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SEARCH LOFTS FOR SALE UNDER $400,000  |  $800,000,  |   $30,000,000
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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 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.

Los Angeles Lofts For Sale – Goodbye $300,000s. Say Hello to $400,000s. #dtla #realestate

The average recently sold Downtown L.A. condominium price is $664,976.

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REAL ESTATE NEWS AND MARKET REPORT:  At the end of 2015, there were many DTLA lofts listed in the $300,000s. In 2017, there will be almost none.  Next year, the starter home lofts will begin in the $400,000s, except for a few tiny studio-size condos.  Today, Downtown has many opportunities for those who are looking for a bargain price.  Some of those bargains include the distressed lofts at the Higgins Building, the awesome historic Mills Act lofts in the clean, pretty area between the Historic Core and Civic Center neighborhoods. Active, motivated buyers are taking advantage and getting a steal this season while some potential buyers are either scared from the election or dormant for the winter holiday season. Meanwhile, massive expansion of Downtown infrastructure and huge influx of residents continues to place strong upward price pressure.  Investment gurus Jim Cramer and others have stated their analysis that prices and interest rates are likely to rise in 2017 and the coming years. The Wall Street Journal has also just weighed in with its forecast of rising prices.

We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.  —  Warren Buffett

The greedy are still raking in the dough in DTLA. Prospective Downtowners and investors can today take advantage of several issues that are temporarily depressing prices. There have recently and currently been a cluster of minor economic panics in Downtown LA.  Some sellers have reduced their asking prices of lofts in the Higgins Building due to a new assessment.  The prices were reduced some time ago, and some home sellers are giving money to buyers, so buyers are today getting Higgins lofts for up to $50,000 less than they would otherwise cost.  The same holds true for units at Evo, Luma and Elleven buildings, as some buyers and sellers are afraid of the HOA lawsuit against the developer, combined with huge new condos being built nearby.  These also allow buyers to pick up one of these soft lofts for easily $50,000 below what the prices will be once the dust settles.

Get access to all of the bargain lofts and condos for sale. For a free list of foreclosures, bank owned and other distressed Downtown properties, fill out the online form:

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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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 the homeowner’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 Real Estate News – Home Values NOT in Bubble Range

Market Report: Los Angeles Home Prices Have Room to Grow

Real Estate publication Keeping Current Matters, Zillow-sponsored Pulsenomics real estate industry panel and NAR the National Association of Realtors have concurred with each other to dispute some industry pundits who claim that residential home values have risen too quickly and that current levels are on the verge of another housing bubble.

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Panelists surveyed by Zillow said they expected home values to end 2016 up 4.5 percent year-over-year, on average, and for the median U.S. home value to exceed its pre-recession peak by November 2017. A majority of panelists with an opinion said markets in the middle of the country were likely to regain popularity compared to coastal markets in coming years as cost-conscious employers start creating more jobs in Middle America.
A marked shift in fortunes between coastal America and Middle America since the housing recovery began – rapid growth in the former, stagnation in the latter – is likely to eventually reverse as cost-conscious companies look for cheaper places to grow, according to a panel of more than 100 experts.

The Q3 Zillow Home Price Expectations Survey, sponsored by Zillow and administered by Pulsenomics LLC, asked a panel of 113 economic and real estate experts nationwide to offer their expectations for home value growth through 2020. The survey also asked the experts to share their views and expectations on changing dynamics in the middle of the country versus the coasts and in urban versus suburban communities.

The L.A. Loft Blog would change the word “Definitely” to the word “Probably” to give a more accurate depiction of statistical likelihood. Market cycles are never definite; just ask former Fed Chairs Alan Greenspan and Ben Bernanke.  The L.A. Loft Blog agrees that there will likely be no major downturn in home prices over the next several years because we have not experienced extended record high prices recently like we had preceding the great depression and great recession. In fact, we have more of a Japanese and European style of prolonged artificially low interest rates. That is more likely to cause overall economic stagnation, which does not require a dramatic drop in real estate prices. Additionally, Downtown Los Angeles outperformed the rest of the country for many years because of DTLA’s unique, dramatic renewal and transformation from blight to luxury. In the current market, it’s all about finding the best deal.

The good news is that it is easy and free to get access to special deals such as pocket listings and other unlisted bargains for sale. Get Downtown LA Pocket Listings Information in your email. Fill out the online form:

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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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 the homeowner’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.

Happy in Downtown Los Angeles Lofts, Condos and Apartments

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Downtown Los Angeles is today experiencing one of the largest influxes of residents in American history.  During the renaissance and revitalization of Downtown from 2000 to 2015, the Downtown population has tripled from around 25,000 to more than 75,000. And it’s no wonder why: The renewal of DTLA has created more than 500,000 jobs, one of the highest ratios of available jobs per resident in the world.

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The bigger reason is quality of life, as Downtown LA now has more amazing restaurants within walking distance than residents will ever have time to experience. There’s more concert halls, theaters and art gallery venues and events than we can ever hope to take in… and more choices of fun bars, pubs and other entertainment opportunities than most can imagine. Downtown L.A. also has more amazing lofts with historic and industrial   character than another city in the sunny climate Southern California.

HOME PRICES

While so many are moving into Downtown, some home owners find that now is the time to sell during a strong market with higher home values and prices so that they can lock in their gains. Find out what the loft down the street sold for. Fill out my online form.

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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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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 the homeowner’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.

How to Find the Best Loft, Condos or House and Gain Financially – #1 Secret

Real Estate Tips and Tricks: This Simple Tactic is the Most Overlooked Trick to Getting the Best Deal on an Amazing Home

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Open space with big windows and light, by the best walking areas near restaurants, shopping and entertainment. But what if the price is too high?  This blog post has answers to that question. For those who are very business minded, it comes naturally.  For the rest of us who must learn and work to make good things happen, we need to put in just a bit of effort to find and get the best deals.

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Before getting to this step, the home  buyer or renter will have maximum leverage for low price by getting access to all of the properties, and not just some of them.  For Downtown, these unadvertised bargains can be found with a free VIP Buyer Program or a paid VIP Renter Service such as the LA Loft Tour at www.LALoftTour.com.

20160826_200914Failing to ask is the number one mistake for humans who want something and don’t get it. So, when it comes to getting a good deal, we need to ask.  Only about 70% of home buyers and just about 30% of renters place an offer less than the asking price.  So up to 30% of home buyers and up to 70% of renters are not negotiating to get the very lowest price.  It is  a 2-step process.  The first step is to ask the seller, owner, listing agent or manager if there are other offers or applications for the property or rental.  Also ask how long it has been on the market.  Then place an offer.  This works best when there are 2 or more properties that you like, and you place offer on both properties.  Many renters and home buyers get obsessed with a single property, which reduces the chances of getting a bargain price.  The most seasoned real estate professionals of all types, especially those who must get a great price, place many offers on many properties. For those who are obsessed with a particular property, and want to try to get that property for sure, the safest tactic is to place the highest and best offer as soon as possible.

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Get access to the best deal on LA Lofts, Condos and Apartments. Fill out the online form.

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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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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 the homeowner’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 Top Lofts For Sale, Condos For Sale, Loft Condos For Lease and Apartments

Top Picks: Downtown Deals and Steals

As prices continue briskly skyward in Downtown Los Angeles, prospective new Downtowners are looking for the best deal possible. The L.A. Loft Blog is today providing the best real estate news in the form of the top picks in condos for sale, lofts for sale, lofts for lease and the top choice of apartments for lease. Here’s this week’s top pick in each of these four categories:

Bunker Hill Loft High Ceilings and Polished Concrete Floors

Best Deal on a Condominium For Sale – This week’s top pick on a Downtown condo for sale is a lofty one! The Bunker Hill Loft is the only loft-style renovation at the well-known luxury high-rise Bunker Hill Tower.  As the most hip condo unit for sale today in Downtown L.A., with polished concrete floors and raised high ceiling, the Bunker Hill Loft is also the lowest price per square foot of all Downtown high-rise condos with a view. Visit www.BunkerHillLoft.com.  DETAILS AND PHOTOS or get 24-hour recorded information by calling 1-800-791-4541 ID#2305.

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Top Pick on a Loft Rental – This authentic live-work Beacon loft has open floor plan, bright south-facing windows with views of Arts District street art, bringing the greatest combination of gritty and pritty. It also features a modern kitchen and bathroom. The polished concrete metallic epoxy floor and concrete features give awesome industrial character — all for the lowest price of any loft in the Art District.  DETAILS AND PHOTOS or get 24-hour recorded information by calling 1-800-791-4541 ID#1407.

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Best Deal on a Loft For Sale – Flower Street has long been the best-kept secret, most authentic industrial loft and best deal in the South Park neighborhood of Downtown LA. This loft just listed has a view, open space, palatial ceiling height, views, large bathroom, walk-in closet, modern kitchen and every other feature one could want, just a block away from the most exciting place on Earth, LA LIVE.  DETAILS AND PHOTOS  or get 24-hour recorded information by calling 1-800-791-4541 ID#1040.

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Top Pick on a Downtown Apartment Rental – Most new construction rental apartments in Downtown bring a yawn at best, while one new apartment complex stands out from the crowd for its creative location and appropriate design. The Garey Building replaced the demolished iconic Megatoy building, which is sad, but the developers did not skimp on the design of the new large apartment complex. With a combination of brick-clad street level retail, and modern apartment atop, the Gary Building also includes its own large walk-through promenade that helps to connect the temples of Little Tokyo to the modern creativity and modern excitement of todays Arts District. Get on the interest list. Fill out the online form:

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SEARCH LOFTS FOR SALE UNDER $400,000  |  $800,000,  |   $30,000,000
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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 necessarily 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.

When is the Right Time to Sell a Downtown Loft?

How to Sell Your Own LoftWhile more people are moving into Downtown than moving away, there are those who prefer to sell when they are sure that the price and equity are at a healthy level. Many loft owners in DTLA are able to move up to a larger loft, while some others are having kids and want to move to a highly esteemed school district area in the suburbs.

The L.A. Loft Blog, the authority on Downtown residential real estate, receives real-time market data and feedback every day.  Based on that large quantity of first-hand observations and real estate market service data, the true nature of the Downtown real estate market is normal and near middle of the cycle.  That means that it makes sense for both buyers and sellers to make a move now if they prefer to move during a safer, more typical real estate market cycle. That being said about market timing, Downtown Los Angeles is anything but a typical real estate market.  During the most recent cycles, Downtown performed better than the average U.S. neighborhood and better than the average California neighborhood during both the up cycle and down cycle because DTLA has extremely fast growth overall.

Here some recent articles that discuss whether or not now is a good time to sell a home:

When is the Right Time to Sell Your Home?
http://www.csmonitor.com/Business/Saving-Money/2016/0223/When-is-the-right-time-to-sell-your-house

Now I Get It: When to Sell Your Home
http://finance.yahoo.com/news/now-i-get-it–when-to-sell-your-home-225837862.html

The Best Times to Sell Your House
https://www.nerdwallet.com/blog/mortgages/the-best-times-to-sell-your-house/

Sales of Existing U.S. Homes Rise Rise to 2nd-Highest Pace Since 2007
http://www.newsmax.com/Finance/Economy/homes-sales-housing-economy/2016/02/24/id/715832/

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Find out what sold recently. Get a free list of nearby homes to learn what most recent selling prices have been. Fill out my online form:

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Douglas Loft