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Los Angeles Real Estate Sales Slow Dramatically During Lockdown

Residential and commercial real estate have slowed dramatically during the virus hysteria of 2020. Home sales and rentals have slowed to a crawl, while brick and mortar business space lease has all but stopped as more than 20% of retail shopping store tenants are either late or completely out of business.

“We have seen sale numbers across the board drop like I have not seen before,” said Jack Livingston, a research analyst at Avison Young.

In May $332 million of retail, office, industrial and apartment products sold in Los Angeles County, according to NKF data. That’s far below the $1.66 billion in sales last May as reported by the L.A. Business Journal.

For Downtown Los Angeles residential lofts and condos, the recent panic has placed the nail in the coffin, turning what was already a falling market into a blighted zone of tent encampments and exploding condo inventory. The L.A. Loft Blog shall delay the reporting of June DTLA sold home price market data. That report is expected to be released around Thursday July 9. Currently, the Loft Blog is preparing to add a unique series of helpful news about coming financial assistance for home sellers, buyers and renters, with various programs offering loans from $5,000 to $10 million. Those article are also expected to begin in July.

Get a free list of lofts with reduced prices and other deals. Fill out the online form:

LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]

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Downtown loft sales and rentals slow, but not as much as retail.

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.

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Free Annual Credit Report and Free Lease Application

Today, more than ever, it’s wise to save as much as possible when doing any kind of real estate, including leases. Whether buying or renting, most who are making a move find that a credit report will be involved with the lease application or home loan process. Federal law requires each of the three nationwide consumer credit reporting companies, Equifax, Experian and TransUnion, to provide a free credit report every 12 months upon request. CreditKarma also provides a free credit report any time (see instructions below). These days, they all attempt to make it easy to accomplish many credit-related tasks right from a home computer. #freecreditreport

In some cases the web-based request may fail. If so, try requesting a credit report by phone. As a last resort, request an application for free credit report by mail. #freeleaseapplication

To order, visit annualcreditreport.com, call 1-877-322-8228 or complete the Annual Credit Report Request Form and mail it to: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281.

Order reports from each of the three nationwide credit reporting companies separately, or order a report from all of the companies at the same time. The law allows consumers to order one free copy of the report from each of the nationwide credit reporting companies every 12 months.

FREE ANY TIME CREDIT REPORT FROM CREDITKARMA

Other sources for free credit reports include CreditKarma.com and FreeCreditReport.com

If using CreditKarma, here are instructions to save the credit report as a pdf file that may be provided to rental managers and owners: Register to use creditkarma.com. After completing the set-up, credit scores appear front and center. Click on one of the credit scores. Then, click on Credit Report. Click Print Report, then print and save as a pdf.

Free Universal Lease Application at EntarL.com

Accepted by most real estate agents, managers and landlords, a free online universal lease application can be used for most any California rental (may work in other states as well). To save money, use the free Entar Universal Lease Application in conjunction with a free credit report to apply and negotiate rentals at no cost to the applicant. While some owners may later require their own fee applications, it’s usually best to try this free solution first. Best of all, it’s quick, re-usable, and often works WITHOUT the $30 fee. Try it! | APPLY FOR ANY RENTAL

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.