Category: Real Estate News

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Luxury Loft Boom – Hot Market for Downtown Luxury Lofts in Los Angeles

LOFT & CONDO LISTINGS DOWNTOWN L.A.  [MAP]

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SEARCH LOFTS FOR SALE UNDER $400,000  |  $800,000,  |   $10,000,000
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Luxury Loft Boom
Hot Market for Downtown Luxury Lofts in Los Angeles

50 Downtown luxury lofts above the $775,000 mark sold in the 2nd half of 2014.  Get the FREE Luxury Recent Sales Report, plus a certificate for $2,000 off closing costs.

SkyLoft1207.com
Sky Loft 1207 luxury condo got 5 offers even though it could not be shown most of the time due to an uncooperative tenant.

While hot markets are seller’s markets, with buyers racing and scrambling to make the deal, licensees representing sellers, and sellers themselves have plenty of reason to sweat as well. Fielding multiple offers, evaluating offers for their merit and ability to close, and overcoming appraisal hurdles are just a few of the challenges of representing sellers in a hot market.

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Metropolis Super Luxury Tower Condos Under Construction

In a hot market, sellers may receive multiple offers, even within the first few hours or days of having their home on the market. In evaluating offers, the following factors should be considered:

  • Net sales price (sales price minus any closing costs, including commissions and credits)
  • Buyer’s financing (amount of down payment, type of financing (conventional, FHA, VA)
  • Contingencies (home inspection, appraisal, financing, HOA review, sale of home)
  • Earnest money deposit and type (e.g., promissory note vs. check)
  • Will the property appraise for the agreed-upon sales price?

Looking at these factors individually and as a whole will help sellers identify the best offers.  Get the Top 50 Luxury Loft List – FREE Luxury Recent Sales Report, along with a certificate for $3,000 off closing costs.  Fill out my online form.

DOWNTOWN LOFT & CONDO:  FOR SALE  |  RENTALS    |  SUBSCRIBE   |  VIDEO
Your Loft Sold GUARANTEED or I’ll Buy It*
Corey Chambers, REALTOR®
(213) 478-0499
corey@laloft.org
http://www.LAloftBlog.com
L.A. Loft Blog, 816 S Broadway, Los Angeles, CA 90014
*Guaranteed home sale by end of listing term at price agreeable to seller – details at LoftSoldForSure.com. The #1 Downtown buyer’s agent with 19 successful buyer transactions closed in 2013, Corey Chambers is a Realtor®, and member of the Top 6 award-winning, 5-Star Yelp rated team.  J.D. Power Award 2012 – Keller Williams Realty ranked Highest in Overall Satisfaction for Home Buyers and Sellers Among National Full Service Real Estate Firms.  DRE#01889449
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Broadway Improvement – Downtown Gets New Tables and Chairs on the Street

Broadway Improvement – Downtown Gets New Tables and Chairs on the Street

Broadway is now under rapid redevelopment.  Eastern Columbia lofts owners will be among the first to gain from the improvements in the form of improved quality of life around the building with dozens of new stores and restaurants replacing the cheap tchatchkies stores, which will also lead to equity gains for homeowners from an improved neighborhood.

This week, the City of Los Angeles added tables, chairs with bistro umbrellas. A portion of the street on Broadway has been blocked off by planters and pylons, a sealed brown gravel has been added to give an earthy appearance, and table and chairs have been added, along with bistro style shade umbrellas.

The benefits are obvious, giving much needed outdoor seating now available for those visiting the restaurants and markets.  The pedestrian-friendly vibe makes a huge difference in the comfort and happiness of residents and visitors.

Broadway Bistro Tables at Eastern Columbia
Broadway Bistro Tables at Eastern Columbia
The criticisms are equally obvious. The brown pebble road covering is a bit too earthy  — as in dirty looking, a la 1850 Los Angeles unpaved streets.  It is unknown if the planters can slow down an out-of-control car going any significant speed.  Those pedestrians with dogs will appreciate the outdoor seating, but, with cars driving just inches away, will need to keep Fido on a tight leash while dining.

Get in on the action by checking out the Eastern Columbia loft listings, or get exclusive access to the new loft conversions that may be coming to the Broadway district.


EASTERN COLUMBIA FOR SALE    |    EASTERN COLUMBIA FOR LEASE

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Copyright © 2014 This free information provided courtesy Corey Chambers, Realtor, Keller Williams Realty, BRE#01889449 We are not necessarily associated with the home owner’s association, seller or developer. For more information, contact (213) 478-0499 or visit DowntownLosAngelesLoft.org 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.