Real Estate Market – Page 91

Knowing what’s selling is good information for both sellers and buyers. See what some of the top DTLA Lofts and Condos sold for this last week.

629 Traction Avenue Los Angeles 90013 Sale Price $1,080,000. With a coveted location in Downtown L.A.’s Arts District and Little Tokyo, Mura offers stylish condominium living in a setting that can’t be beaten. Now, you can lose yourself in the city with lush landscaping and serene fountains. Private outdoor recreation areas provide places to swim, relax, and enjoy summer barbecues. Well-planned amenities include a fitness center with state-of-the-art equipment. And indoors, dramatic interiors and the finest appointments await.

849 Broadway Unit 1108 Sold for $790,000. Eastern Columbia, Broadway at Ninth– over several decades, the city’s airwaves chimed this jingle to advise Los Angeles shoppers of new arrivals and special offers at Downtown’s flagship department store. For years the tallest building on the area skyline, the Eastern Columbia Outfitting Company opened on September 12, 1930. ¨Perhaps Los Angeles’ finest example of the Art Deco era’s zig-zag moderne style, the Claude Beelman-designed tower has long captivated arts and architecture scholars. Faced in turquoise terra cotta and trimmed with deep blue and gold terra cotta, the tower’s façade features sunburst patterns, geometric shapes, zigzags, chevrons and other stylized motifs. A four-sided clock tower emblazoned in neon with the name EASTERN caps its thirteen stories.

645 W 9th Street Unit 435 sold for $710,000. Market Lofts located on the upper six levels of a newer building in the heart of DTLA, these lofts range from 695 to 1,583 square feet. With dozens of layouts, you can select the space and the city view that suits you best. The podium level features a landscaped deck with swimming pool and spa, a social room with a gourmet kitchen, a screening room, and your own fitness center.

#marketlofts #easterncolumbialofts

What’s that? An unlisted – list? Get access to properties that are not yet listed for free. Fill out the online form.

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LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]

Best Deals in DTLA Real Estate are Not on the Market

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.

When it comes to Downtown L.A. real estate, there is no better place to find out what is going on. This post will reveal everything from cracks to stone cold facts to crazy possibilities. #realestate #market #news #dtla

Southern California Real Estate Cracks Affect Downtown Los Angeles — Southern California Real Estate Market Cracks Affect Downtown Los Angeles

Readers of the L.A. Loft Blog are the most informed buyers, sellers, landlords and tenants. In 2011, we notified the world that the coming wave of foreclosures was probably not going to happen. We informed that the real wave to catch was the beginning of the economic growth cycle, and crazy low real estate prices. We foretold the fact that buying a Downtown Los Angeles loft or condo at that time would virtually like getting a free home. Fortunately, for our buyer clients, it turned out to be true as the average Downtown loft more than doubled from the mid $200,000s to over $600,000 today. The cost of the home has been quickly surpassed by the tremendous equity gained. The average home owner now has a net worth $400,000 higher than that of the average renter.

THE FUTURE OF DOWNTOWN LOS ANGELES REAL ESTATE

Six days ago, the Loft Blog reminded everyone that it is time to spot the changes now occuring, how to spot the canary in the coal mine in order to see what’s coming, and how to take advantage of the dynamics of today’s real estate market.

This week, the Orange County Register reinforced our insight, reporting that Southern California home seekers are placing 9 percent fewer homes into escrow this spring, a dip that caused one analyst to write his “Cracks Appearing” report.

Steve Thomas of ReportsOnHousing wrote: “Noticeable cracks have appeared that illustrate a cooling market”. He goes on to note that it is not suddenly a buyer’s market as there is a lack of available homes below $1 million. A recent count of 13,669 new SoCal escrows is down 1,341 sales contracts in 12 months or 9 percent. That’s also off 5 percent vs. the previous five years.

Supply of available homes is down, while at the same time, it is taking longer for homes to sell.

The bottom line is that the real estate market in general is slowing, with fewer transactions, as buyers and sellers are both more content to stay put where they are. The biggest losers in today’s real estate market are flippers, real estate agents.

Renters are also among the losers, as they will likely feel more and more like frogs in very warm water turning to boiling as the heat rises too slowly to notice unit it’s too late. Because prices are unlikely to fall substantially, but rather likely to meander up, most renters will find themselves increasingly priced out of the market.

SELL REAL ESTATE TO BUY BITCOIN?

Here’s the craziest of possibilities that is actually very likely to come true: Those who sell their home at today’s plateau, use the proceeds to buy cryptocurrency such bitcoin near its bottom in roughly a year, will be likely be able to sell and retire on tens of millions of dollars of gains just a few years later.

Please let us know who is crazy enough and smart enough to do something like this. We’d love to hear more stories from the really amazing readers of the L.A. Loft Blog. And, as always, we are here to help those who have questions.

Get questions answered about Downtown lofts, condos, apartments for sale and for lease. Get info on buildings, Mills Act historic lofts with tax benefits, 2-story lofts and prices of homes that recently sold in the area. Fill out the online form:

<a href="https://laloft.wufoo.com/forms/m1spfx910pdzxmx/" target="_blank" rel="noopener noreferrer">Fill out my Wufoo form!</a>

LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]

Category: Real Estate Market

DTLA Lofts and Condos that Sold Last Week

Cracks Appearing in Southern California Real Estate Market – Downtown Los Angeles Affected

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