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 In the last 6 months, 806 Downtown area property listings have resulted in 305 expired, canceled and withdrawn listings, but only 165 successfully sold properties. 336 listings are still trying to sell.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
Staging is a crucial component to selling any property, but it’s especially critical when you’re attempting to sell a loft apartment. Loft apartments are known for their high ceilings, open concept, and industrial vibes, but making a loft look cozy and homey can be quite a challenging task.
Your primary goal when staging a loft apartment is to show potential buyers that the space can be functional and operate as a normal living space. The lack of interior walls makes this tricky. However, with some tried-and-true interior design tips, you can accomplish this feat while still maximizing and maintaining the loft’s unique and charming characteristics.
Here are eight interior design tips for staging a loft to sell fast. | Blog Video
Tip #1: Let in Natural Light
One of the best features in loft apartments is their open windows. Natural lighting helps maximize and highlight the proportions and charm in loft apartments. Get rid of the curtains and leave the windows open and exposed to capitalize on this feature.
Tip #2: Focus on Proportions
Loft apartments have high ceilings and few or no interior walls. You must have an eye for proportions and scale. Unlike other properties, loft apartments need large furniture. The space is wide open, and tiny furniture makes the area look awkward and uncomfortable. Instead, choose large furniture that fills the space while still allowing for free movement and flow. Be careful, though. There are still pieces that are too bulky, even for a loft apartment.
Beyond furniture, you need to pay special attention to where you hang pictures, curtains, and other decorations. Everything has to be hung much higher than you would ordinarily hang things. Utilize the entire wall to make the space feel inviting and proportional.
Tip #3: Differentiate the Height of Rooms
Use hanging light fixtures or decorative ceiling panels to differentiate the height of different areas. Doing so helps break up the space and create more intimate spaces throughout the apartment. A low hanging light over the dining table or a ceiling panel over the bed are two popular options.
Tip #4: Define Areas
Part of the appeal of a loft apartment is that it’s essentially one gigantic room. However, that doesn’t make for a functional living space. Use creative techniques to define different “rooms.” Area rugs, open-back shelves, hanging curtains, or room dividers are innovative solutions to do this. Throw an area rug in the living space. Separate the living area from the bedroom with an open-back shelf or two. Close off an office space with a curtain. Combine techniques like these with height differentiation tips to boost the functionality and flow of the layout.
Unlike most properties, where every room can have a different theme, loft apartments need to have a consistent theme throughout. You can’t have industrial furniture in the dining area and rustic furniture in the living area. It creates an unpleasant clash and takes away from the appeal. Instead, use complementary colors, furniture, décor, and material throughout the entire space.
Tip #6: Highlight Unique Features
Don’t rush to hide all the things that make a loft apartment unique. Instead, leave the brick and pipes exposed. Create a gallery wall of pictures that starts at the top of the wall and goes down to the chair line to accentuate the wall height. Don’t section off the space so much that you can’t tell it’s a loft apartment. Loft apartments are a hot commodity, and it’s because people love and seek out these features that make loft apartments unique.
Tip #7: Incorporate Storage Solutions
One downside to loft apartments is that they usually don’t have many closets or storage solutions. Tackle this issue head-on by incorporating storage into your design. Consider converting a wall to a permanent storage shelf that includes shelving, drawers, and cabinets. Alternatively, fill the space with flexible furniture that doubles as storage, like a bed with drawers underneath. Filling the space with innovative, multi-purpose furniture, shows potential buyers that storage is possible.
Tip #8: Go Neutral and Subdued
Finally, when you’re trying to sell quickly, go for neutrals and universally accepted design motifs. Don’t stray too far out of the box because you risk isolating potential buyers. Pick materials that people love. Go with quartz countertops. Even though the cost of quartz countertops is high, they’re a much safer bet than something like stainless steel. Go for hardwood floors instead of carpet. Choose beiges, greys, and ubiquitously appealing colors. Going the safe route allows the uniqueness of the loft layout to be the star and ensures that you don’t scare off buyers.
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These eight design tips are tried-and-true techniques for staging a loft apartment. If you follow the advice above, you’ll be on track to getting your loft apartment sold quickly.
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Matt Lee is the owner of the Innovative Building Materials blog and a content writer for the building materials industry. He is focused on helping fellow homeowners, contractors, and architects discover materials and methods of construction that save money, improve energy efficiency, and increase property value. #interiordesigntips #stagingloft #sellfast
