Corey Chambers Real Estate Newsletter March 2024 | The California Home

The California Home
The California Home

Sunny Skies

All I can say is WOW! 

I am busy helping people find their new homes, thinking of how grateful I am for the value you bring to my real estate business. While looking around out in the world, I see blue skies emerging, and the recent cold days will soon be only a memory.  It looks like Spring has sprung. For many across the country, it’s still cold, grey, and snowy! It very well could hail and snow more in the foothills around LA. But one thing is for sure, this winter season is coming to an end. It does every year without fail.

Just like the weather seasons come and seasons go, so do the seasons of life. I’m sure you have noticed as I have the older I get the faster they move by. These “seasons of life” go by so fast, my hope is that you enjoy each one. Yes, some will be hot and others will be cold highs and lows. The lows we want to move by quickly, the highs we want to stay in forever sometimes.

Please know that my team and I are eager to help anyone you know wanting to make a move. So much so that we are willing to make an offer that your referrals will LOVE – AND – the Kids at Children’s Hospital Los Angeles will love too. 

Your referrals help the kids!

Go Serve Big!!! Investing In Our Southern Californian Kids

If you or a friend are thinking about selling, make sure to choose a real estate company you can trust! A real estate company with experience, proven results, and a give-back philosophy!

AND REMEMBER… Your referrals help the Kids…

We are on a mission to raise $25,000 for CHLA. We do this by donating a portion of our income from homes we sell. As you know, Children’s Hospital of Los Angeles does great work in helping kids fight through and survive serious life-threatening diseases like cancer, Non-Hodgkin’s lymphoma, leukemia and others. They also lead the way in helping kids come back from spinal cord injuries as well as early diagnosis of autism. Last year alone, Children’s helped over 1,000,000 kids right here in Los Angeles. BUT, Children’s relies on sponsorships and donations to provide their elite level of care, and to keep families’ expenses to a minimum. So YOUR REFERRALS REALLY DO HELP THE KIDS…

Who do you know considering buying or selling a home you could refer to my real estate sales team?

Not only will they benefit from our award-winning service, but you can rest assured we are also donating to a very worthy cause.

Go Serve Big!!! Investing in the Children of Los Angeles.

A Real Estate Company that Gives Back!

Children’s Hospital LA leads the way in serving kids one patient at a time.

We are still boldly on a mission to raise $25,000 for Children’s Hospital of Los Angeles, and we are making progress! We do this by donating to them a portion of our income from homes we sell. As you know, CHLA does AMAZING work in helping kids fight through and survive nasty diseases like cancer, Non-Hodgkin’s lymphoma, leukemia, and others. They also lead the way in many other fields.

They can provide this care and keep patient costs to a minimum due to donations and sponsorships. We are proud to support the Children’s Hospital of Los Angeles!

As in the attached story, Children’s Hospital of Los Angeles provides the best pediatric medical care available anywhere in the country. To do that, CHLA needs donations to continue its leading-edge care. We proudly donate a portion of our income from real estate sales to CHLA to help them continue serving the needs of those who most need it in our Los Angeles!

Who do you know considering buying or selling a home you could refer to our real estate sales team? Not only will they benefit from our award-winning real estate service, but a very worthy cause will also benefit as well. To refer anyone considering buying or selling a home just give me a call or pass on my number. 213-880-9910.

Thank you in advance for your referrals!

You and your referrals mean more than ever to my team and me. As we move forward thru this winter, please know we are extremely thankful for you and you being a special part of our business.

Go Serve Big!!! — Corey Chambers

EntarÂŽ Real Estate and Investment Technologies!

P.S. I copied and pasted the story below from the CHLA website. It better tells the story of the work they are doing.

MAKING A DIFFERENCE

As a leading charitable hospital, CHLA depends on sponsorships and donations to continue its leading-edge service. We proudly donate a portion of our income from real estate sales to CHLA to help them continue serving the needs of those who most need it in Los Angeles!

A real estate company with experience, proven results, and a give-back philosophy!

Over the years of helping many families sell their homes and/or buy another, we have met some wonderful, loving, caring people. People like you! So your referrals can rest assured that, not only will they get the award-winning service we are known for and the guarantee to back it up, but that a solid portion of the income we receive will go toward helping the kids.

Refer your friends, neighbors, associates or family members considering making a move:

You can go to www.ReferralsHelpKids.com and enter their contact info online or forward the link to someone you know considering a move.

Of course you can always call me direct as well at 213-880-9910


Why I support ChildrenĘźs Hospital Los Angeles

I grew up right here in the Greater Los Angeles Area, born in Los Angeles County at St. Francis Hospital. I remember when I first heard about a young person close to our family suffering from a nasty disease and getting treated for that at Children’s Hospital Los Angeles. It was then that I began to pay closer attention to the work they do at that hospital. Since then, I have learned that it is a collection of hard-working health care professionals, most making their home right here in the Los Angeles area, all coming together for a common cause. That cause is to help young people overcome unfortunate health issues that life sometimes throws our way. Being a Los Angeles Area California native, I take pride in supporting in a way that I can do the good work these people do at Children’s. My team rallies around our annual goal of raising money and donating portions of our income to help Children’s in their quest to heal young people when they need healing. My team and I are committed to providing outstanding results for buyers and sellers referred to us by our past clients. I have discovered that Children’s Hospital Los Angeles shares a similar commitment to their patients. And since their services survive on sponsorships and donations, we are happy to contribute and proud to support them.

Sincerely,

Corey Chambers

Hitting All The Right Notes

Melody, who was born with amniotic band syndrome, embraces her uniqueness and shines in the spotlight. | by Monica Rizzo

Story and photos courtesy Children’s Hospital Los Angeles

She’s timid with people one-on-one, but when it comes time to sing the National Anthem at LoanMart Field, home of minor league baseball’s Rancho Cucamonga Quakes, 11-year-old Melody oozes confidence and belts out the tune like an old pro. It’s because, she says matter-of-factly, “I’ve been singing all my life.”

Music, it turns out, has been a constant for Melody from the time she was in her mother Jackylin’s womb. Her father, Jesus, is a DJ and talented musician, Jackylin explains.

“I would tag along to whatever club he was DJ-ing at as well as go to concerts and bars to hear bands play. We were surrounded by music all the time, so as soon as we found out we were having a girl, we knew she had to be named Melody,” Jackylin says, noting that her pregnancy was nothing short of harmonious—until the day her daughter was born.

“I had a C-section and when they delivered her, they called Jesus over to show him that she was missing some fingers and toes,” Jackylin says. “They brought her to me, and I was so emotional. All day I kept going over in my head ‘what did I do wrong during the pregnancy?’ I was getting ultrasounds and pictures and nothing indicated anything was wrong with her development.”

Learning about hand differences

Jackylin and Jesus learned soon after their daughter’s birth that Melody had amniotic band syndrome (also known as constriction ring syndrome), a rare congenital condition where string-like bands of tissue from the amniotic sac entangle a developing fetus and like a lasso, the bands wrap around fingers and toes. The non-preventable condition affects one in 15,000 births each year.

A referral led the family to drive an hour from their Inland Empire home to Children’s Hospital Los Angeles, where they took 3-month-old Melody to meet with Nina Lightdale-Miric, MD, Director of the Pediatric Hand and Upper Extremity Surgery Program at the Jackie and Gene Autry Orthopedic Center.

“Parents want information and they want to understand how this happened, what it means and if their child is going to be OK,” Dr. Lightdale-Miric says. “I explained the condition to them and that it is random, that it is something completely healthy children can be born with. They weren’t expecting this, they didn’t plan for this, so I gave them information to help them understand and anticipate what’s next and feel confident and safe.”

“We were immediately impressed with Dr. Lightdale-Miric,” Jackylin says.

A supportive community

Ever since Melody was a baby, the family has participated in events with the CATCH (Center for Achievement of Teens and Children with Hand Differences) program. Created in 2011 and led by Dr. Lightdale-Miric, the donor-funded program is the only one of its kind in the country and has provided resources, mentorship and support for more than 300 families and patients with hand and upper limb differences through informational presentations and recreational gatherings. Meeting and speaking with other families whose children have hand and upper limb differences has put Melody’s family more at ease and paved the way to some long-lasting friendships.

Melody with her family – Mom, Jackylin, Father, Jesus, and brother Jesse

“Parents come to us with concerns of how to raise a child with a hand or upper limb difference to not be shy or ashamed or isolated,” Dr. Lightdale-Miric says. “Families who participate in CATCH receive guidance and support from our clinical team as well as from other patient families and in turn, that bolsters their self-esteem. They learn that their kids can do so many things—play the piano, ride a bike, become a doctor—they will just do it differently than other people. The community of care and support this program provides is as important as the surgical care, and that’s what differentiates CHLA from other institutions.”

“I learned a lot from the other parents—not to hide Melody’s hands, not to give her special treatment,” Jackylin says. “Since the time she was a baby, we were strict that she needs to do things herself. If she wants to eat, she needs to grab the food. If she wants a toy, she needs to grab it. I think that’s one of the big reasons Melody is the way she is now.” — Story and photos courtesy Children’s Hospital Los Angeles

Refer your friends, neighbors, associates, or family members considering making a move: www.ReferralsHelpKids.com or call Corey at 213-880-9910

Copyright Š This free information provided courtesy L.A. Loft Blog with information provided by Corey Chambers, Broker, DRE 01889449. We are not associated with the seller, homeowner’s association or developer. For more information, contact 213-880-9910 or visit LALoftBlog.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 Los Angles Real Estate Market Report January 2024

REAL ESTATE NEWS (Los Angeles, CA) — The numbers are in. Did urban L.A. property market go up or down last month compare to the same month last year? A mixture of both, as the more affordable units get more affordable, while the more expensive units get more expensive. It’s been taking longer to sell Downtown condos lately. These add up to signs of economic stagnation and price inflation, strongly affected by higher interest rates.

The Pulse of Progress: Downtown L.A.’s Real Estate Evolution

In the heart of Los Angeles, the real estate market has always been a beacon of change, reflecting the city’s ever-evolving skyline and the dreams of its residents. As we dive into the Downtown L.A. real estate market, a comparison between home sales in January 2024 and the same period in 2023 reveals a fascinating narrative of growth, challenges, and the unyielding pulse of progress.

A Year of Transformation

January 2023 set the stage with 15 condo and co-op properties changing hands, showcasing an average days on market (DOM) of 38 days. The listings ranged from a modest $373,000 to a lavish $1,568,000, with an average selling price slightly above the listed, indicating a market of close matches between buyer expectations and seller demands. The average price per square foot stood at $760.62, a figure that bespoke the premium on downtown living space.

Fast forward to January 2024, and the narrative took on additional layers. The number of listings sold rose to 19, a subtle yet telling increase reflecting the market’s resilience and appeal. However, the average DOM jumped to 64 days, hinting at a market that required more patience from sellers and more deliberation from buyers. The price brackets expanded as well, with the high reaching $1,645,000, although the median selling price remained steady, suggesting a consistent core market value amidst a widening range of options.

Analyzing the Numbers

The slight dip in the average selling price to list price ratio from 97.36% in 2023 to 97.01% in 2024 indicates a market that’s becoming slightly more favorable to buyers, offering them a tad more negotiation room. Yet, the decrease in the average selling price over the original list price ratio from 107.87% to 93.10% signifies a shift towards a market that’s aligning more closely with initial pricing expectations, possibly reflecting sellers’ adaptation to more accurate market valuations.

Notably, the average price per square foot experienced a decline from $760.62 in 2023 to $633.58 in 2024. This adjustment could reflect a variety of factors, including changes in the types of properties sold or variations in market demand. Yet, the increase in the average square footage from 775 to 1,035 underscores a trend towards larger living spaces, reflecting a market evolution that caters to a diverse range of buyer preferences and lifestyles.

Beyond the Numbers

The story of Downtown L.A.’s real estate market is not just told through numbers but through the lives that animate its spaces. The increase in the average lot size, from 80,283.50 square feet in 2023 to 92,249.11 square feet in 2024, hints at a broader canvas for the city’s architectural creativity and the residents’ aspirations.

As Downtown Los Angeles continues to morph, with its blend of historic charm and modern luxury, the real estate market mirrors this dynamism. The market’s shifts and trends are more than mere statistics; they are a testament to the area’s resilience, its capacity for renewal, and its unwavering attraction for those seeking to write their own stories within its vibrant landscape.

The Downtown Los Angeles real estate market’s journey from January 2023 to January 2024 is a microcosm of the city itself: diverse, dynamic, and ever forward-moving. It’s a market that demands attention, not just for its economic indicators but for what it signifies about urban living and the enduring appeal of calling Downtown L.A. home.

The most dramatic differences between January 2023 and January 2024 in the Downtown Los Angeles real estate market are seen in the significant increase in the average days on market (DOM) from 38 to 64 days, indicating a slower pace of sales, and the notable expansion in the average square footage of sold properties from 775 to 1,035 square feet, reflecting a shift towards larger living spaces. Additionally, the average price per square foot saw a decrease from $760.62 to $633.58, suggesting a market adjustment that potentially offers more value per square foot for buyers. These changes highlight a market in transition, adapting to evolving buyer preferences and market dynamics.

What about average sold price and median sold price? The average and median sold prices between January 2023 and January 2024 in the Downtown Los Angeles real estate market also reflect noteworthy shifts. The average sold price increased from $625,400 in January 2023 to $661,842 in January 2024, demonstrating a growth in the overall value of properties being sold. In contrast, the median sold price remained consistent at $578,000 across both years, indicating stability in the market’s central tendency despite the overall increase in average values. This consistency in the median sold price, paired with the rise in average sold price, suggests a broadening in the range of property values sold, with high-value sales driving up the average while the bulk of transactions centered around a steady median price point.

Did average price per sq ft go up or down? The average price per square foot in the Downtown Los Angeles real estate market went down from $760.62 in January 2023 to $633.58 in January 2024. This decrease suggests a market adjustment where buyers could find more value per square foot, indicating a potential shift in the balance between buyer demand and available property characteristics.

These numbers sound like stagflation, as the rich get richer and the middle class gets poorer. The trends observed in the Downtown Los Angeles real estate market from January 2023 to January 2024 indeed present a nuanced picture that could be interpreted through various economic lenses, including aspects reminiscent of stagflation. While the term “stagflation” is traditionally used in the broader economic context to describe a period of slow growth and high unemployment accompanied by inflation, some parallels can be drawn with the real estate market dynamics.

  1. Slowing Market Velocity: The increase in average days on market (DOM) from 38 days in 2023 to 64 days in 2024 suggests a slowing velocity in property transactions, akin to slowed economic growth.
  2. Price Inflation: The rise in the average sold price, despite a decrease in the average price per square foot, indicates that while there might be more value per square foot, the overall price levels are increasing. This could suggest a form of price inflation where higher-value properties (potentially appealing to wealthier buyers) are driving up average prices.
  3. Disparity in Value: The consistent median sold price alongside the falling average price per square foot could reflect a growing disparity in the market. This scenario might indicate that while the median (representative of the “middle class” of properties) remains stable, the average is skewed by high-end sales, suggesting that wealthier individuals are still investing in more expensive properties, potentially widening the gap between different market segments.

These dynamics can reflect a form of economic divergence within the real estate market, where the experiences and opportunities differ markedly between segments of the market. This interpretation aligns with concerns over economic disparities, where the benefits of certain economic conditions are not evenly distributed. However, it’s important to note that real estate markets are influenced by a multitude of factors including interest rates, supply and demand dynamics, and broader economic conditions, making the comparison to stagflation a conceptual rather than a direct correlation.

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Copyright Š This free information provided courtesy L.A. Loft Blog with information provided by Corey Chambers, Broker DRE 01889449. We are not associated with the seller, homeowner’s association or developer. For more information, contact 213-880-9910 or visit LALoftBlog.com Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Text and photos created or modified by artificial intelligence. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.