Real Estate Market – Page 49

Los Angeles Condos and Houses That Don’t Sell – Expired Home Listings #expired

It’s hard to believe that, even when Downtown LA was a hot market 5 years ago, 34% of Downtown area homes that were listed ended up not selling. Yes when it was a brisk market, a large number of lofts, condos and nearby houses for sale listings did not sell.

Downtown real estate is not so hot any more. In the last 6 months, 806 Downtown area property listings have resulted in 305 expired, canceled and withdrawn listings, but only 165 successfully sold properties. 336 listings are still trying to sell. Sadly, most area homes that do not sell within 28 days will likely fail to sell any time soon. Area home prices quietly dropped by $35,000 last year, and, this year, the Greater Depression of 2020 has caused home prices to drop by another $33,000. Most DTLA home sellers believe that their loft or condo is worth $628,000 or more, but most of today’s home buyers are only willing to spend $569,000 or less in this area. #unsold #home #listing

If your Downtown loft, condo or house has just come off the market and hasn’t sold, don’t be discouraged. The reason your home did not sell may have nothing to do with your home or the market. In reality, your home may have been one of the more desirable properties for sale. | EXPIRED HOME LISTINGS

So Why Didn’t Your Loft Sell? Order a free report at www.ExpiredLoft.com or fill out the online form:

<a href="https://laloft.wufoo.com/forms/qs751wo1hxz9ak/" target="_blank" rel="noopener noreferrer">Fill out my Wufoo form!</a>

Find homes in Downtown Los Angeles:

LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]

Get a list of Los Angeles expired, cancelled, withdrawn, vacant, short sales, foreclosures and other distressed properties at www.DowntownDistress.com

Copyright © This free information provided courtesy L.A. Loft Blog with information provided by Corey Chambers, Realty Source Inc, BRE 01889449, MPR Funding Inc NMLS 2000513. We are not associated with the seller, 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.

*seller and Corey must agree on price and time of possession – details at ChambersGuarantee.com

Downtown L.A. in 2020: Spreading symptoms of urban blight #realestate #market #news

REAL ESTATE NEWS | Blog Video

The September numbers are now in, and they show that DTLA home prices continue to plummet. The median Downtown area condo priced dropped by $33,000 last month compared to September of 2019, based on MLS data for #dtla and nearby loft neighborhoods 23, 42 and 1375:

2019 Median Home Price $600,000 | 2020 Median Home Price $567,000

Additional negative economic reports have also just been released. The September jobs report weaker than expected, along with troubling announcements of a president who is sick with covid-19, increases the odds of a crashy October and protracted economic depression, with more falling home prices for longer than most expect.