Real Estate Market – Page 58

The monthly DTLA sold homes report has arrived. The month of May has revealed panic selling in Downtown L.A. as many buyers and sellers stayed clear of the market. Only 16 residential properties were transacted, and they sold faster, and at lower prices, indicating that a few savvy investors took advantage of the declining property market by demanding home price concessions from motivated sellers. #realestate #dtla #homeprices

The median Downtown LA home price dropped from $574,500 in May of 2019 down to $526,000 last month. Those few sellers who were willing to sell were in a bit of a rush. The average property sold in 32 days compared to 37 days for the same period last year.

The L.A. Loft Blog continues to forecast falling real estate prices for most months in 2020.

Reader Questions:

Q: What is happening at chase tower downtown la 1100 wilshire? A: The luxury highrise loft condo building HOA may still dealing with several lawsuits. There’s 10 units for sale and several for lease. For lawsuit details, request a litigation search.

Q: Hello, My name is Van im an artist and filmmaker living in LA for the last 12 years. Always dreamt of having a big live/work in the city but could never afford it. Im looking for something in the low 2k’s per month, and i have a small dog. must include parking as well. im flexible with price. let me know if you can show me a few places, i called twice today but couldnt get thru to anyone. thanks so much. Van A: Thank you for your request. I may not currently have any listings in your price range, but you will find some on the LA Loft Blog, then I can tell you the contact info of a listing agent.

Q: Is the middle class really moving out of California? A: Yes, Approximately 388,000 net persons moved away from California in 2019, with the majority of them middle income couples and families.

Q: Are we going to have a housing apocalypse? A: Yes, something like that. The word “apocalypse” may be a bit dramatic and fanciful, but housing is one of many sectors that shall experience tremendous shocks and cascading crises due to the radical, unprecedented global economic shutdown. The L.A. Loft Blog, which predicted a deadly respiratory plague, was the first to warn that the cure for coronavirus (AKA mass hysteria and global panic) shall be much worse than the disease. 600 doctors later agreed, IMF International Monetary Fund and CNBC are all on the same page, warning about unexpected, extremely detrimental economic effects of lockdown.

http://www.laloftblog.idxbroker.com/i/downtown-los-angeles-lofts-for-lease

LOFTS FOR LEASE

Find out what the home down the street sold for

Find out how much the loft down the street sold for. Fill out the online form:

LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]

National Guard troops leaving Downtown Los Angeles after riots and looting quiet down

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.

Bidding War or Glut? Whom should you believe? Redfin and CNBC say that the market is already heating back up, that there’s a nationwide bidding war and that many are going for bigger, better houses now. As home prices are soaring, phones in real estate offices are ringing off the hook. Those who prefer to be a bit closer to reality, however, are likely to believe that pretty much the opposite is true: We’ve experienced the biggest negative shocks to the economy ever. The real estate market is all but completely paralyzed. While both of those positive and negatives viewpoints may be a bit extreme, the “paralyzed” picture is rooted closer to the truth for based on the seriously falling numbers for Los Angeles. #losangeles #realestate #market | Blog Video

24 hour market report shows that 166 properties have been listed in Los Angeles and 46 have been sold — That is 1 sold for every 2.44 listed in L.A. The L.A. Loft Blog has reported that April Downtown area residential real estate prices fell down significantly from the same period for previous year. Add historic unemployment and stock market crashes to see a very clear picture of what’s to come when industry after industry reports massive losses over the coming months. The experts agree that the world is in the Great Depression of 2020. Even China agrees that things are bad, as the communist leadership has just decided not to set an economic goal next year due to the massive economic crash. Billionaires are not bullish: Marc Lasry says that the stock market will soon realize that we’re in for years of hardship from lingering economic devastation. Even once-optimistic Warren Buffett now says, “The world has changed” as he writes off the travel industry. Local mixed-use landlords report that their commercial properties are in trouble, with more than 20% of commercial rents running late. They say their residential rents are doing surprisingly well.

Get a free list of Mills Act historic lofts with property tax benefits. Fill the online form:

<a href="https://laloft.wufoo.com/forms/ze1qfwn1rrhoda/" target="_blank" rel="noopener noreferrer">Fill out my Wufoo form!</a>

LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]

Category: Real Estate Market

Real Estate Market Report Downtown Los Angeles May 2020

Los Angeles Real Estate Market

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