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Loft Values Gain Value As Equity Grows

1100 S Hope Street
1100 S Hope Street

Between 1987 and 1999, which is often referred to as the ‘Pre-Bubble Period,’ home prices grew at an average of 3.6% according to the Home Price Expectation Survey.

Every month, the economists at CoreLogic release the results of their Home Price Insights Report, which includes the actual year-over-year change in prices across the country and their predictions for the following year.

The chart below shows the forecasted year-over-year prices for 2018 (predictions made in 2017). According to their predictions, the average appreciation over the course of 2018 should be 4.8%, which is still greater than the ‘normal’ appreciation of 3.6%.

If we layer in the actual price appreciation that has occurred this year, we can see that over the course of 2018, home prices have appreciated by an average of 6.9% and have outpaced projections all year!

What does this mean?
The tale of today’s real estate market is one of low inventory, high demand, and rising prices. The forces at work can be simply explained with the theory of supply and demand. That being said, if a large supply of inventory were to come to the market, prices may start to appreciate closer to the forecasted rate which would STILL be greater than the historic norm!

Bottom Line
If you are a homeowner whose house no longer meets your needs, now may be a great time to list your home and capitalize on the equity you have gained over the last year to make a significant down payment on your next home!

#lofts #DTLA

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Macys Plaza now the Block by Historic Lofts
Macys Plaza now the Block by Historic Lofts

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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Mills Act Lofts In Downtown Los Angeles

A Trio of Mills Act Properties Sold Condos Downtown Los Angeles   See thier Prices and details.

DTLA Views From Epic Loft Window

The Douglas Building,

Douglas Building 1 bedroom 1 bath

215 Spring Street Sold for $535,000 Bright and charming unit in the Historic Core’s Douglas Building, circa 1899 (Mills Act Tax Incentive Program), with an assigned subterranean parking spot and Mills Act tax benefits offering substantial property tax savings.   Four huge picture windows flood the 740 sqft space with natural light, as well as beautiful views of City Hall, Civic Center, and Little Tokyo. Original hardwood floors and stunning tile work give it a matchless charm, with 11ft ceilings, high-end Poggenpohl kitchen, Waterworks fixtures, Bosch appliances, washer dryer in unit, lots of well thought out closets and storage space, built out sleeping loft and office or flex space. Rare opportunity to own a slice of history in a sought after building with very little available inventory.

The Bartlet Building

Bartlet Building

215 W 7TH ST Sold for $460,000

Live in the heart of DTLA at the beautiful and historic Bartlett Lofts. Surrounded by countless dining and entertainment options, this condo is also walking distance to multiple Metro lines. The one-bedroom loft unit features high ceilings, original oversized windows, stained concrete floors, and dense, soundproof walls. This quiet, interior unit overlooks the courtyard, thereby reducing street noise. Kick back on the beautiful, furnished rooftop terrace with 360-degree unobstructed views of downtown. The Bartlett also offers 24/7 front desk and security and is Mills Act approved allowing for substantially reduced property taxes.

The Rowan

312 W 5th Street Sold for $610,000

The Rowan

Rowan Building. Highly detailed with abundant views of Downtown, 10 foot high ceilings and large windows that Span the whole wall. Hardwood floors throughout, exposed brick walls, Located in the Historic Old Bank District of DTLA, The Rowan is the perfect blend of old world charm and modern amenities. Built-in 1912 and exquisitely remodeled in 2008, this Beaux Arts Architectural masterpiece allows its residents access to great local bars, restaurants, museums, and shopping right out front from their 24-hr guarded and secured entrance. The building offers an intimate indoor lounge, outdoor BBQ area with a hot and cold spa and a dog run. Qualifying for the Mills Act, owners enjoy substantial savings on their property taxes too.

 

 

 

 

 

 

 

#millsact #dtla

See what’s coming on the market with a free property report.  Fill out the online form.

LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]

  Lofts For Sale     Map Homes For Sale Los Angeles

SEARCH LOFTS FOR SALE Affordable | Popular | Luxury
Browse by   Building   |   Neighborhood   |   Size   |   Bedrooms   |   Pets   |   Parking

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.