REAL ESTATE NEWS
The number one real estate news topic of 2019 has been Mills Act lofts because these historic homes have offered the most sure thing deal on historic urban homes with amazing character and openness. The end of 2019 has been punctuated by China’s impact on the local property market of Los Angeles and much of California. Fewer people moved in 2019 as more decide to stay put and wait out any stormy weather in the form of crashing economic markets. Live/work lofts have remained the favorite of L.A. Loft Blog readers, and 2-story lofts continue to make the news. #2019yearinreview #dtla #realestate #losangeles
Downtown Los Angeles and nearby home prices have dropped 4%-7% in 2019. As the number of real estate transactions in DTLA has dropped by 75%, the L.A. Loft Blog has needed to shift its focus onto surrounding communities such as Highland Park, Northeast Los Angeles, Pasadena and more distant communities.
Homeless tent encampments, human feces, used needles and garbage have also headlined in the news this year. Mayor Eric Garretti has commented on how many hundreds of millions of dollars have been thrown onto the problem, but has avoided the vital topics of successful solutions necessary to achieve 100% housing and proper law enforcement. Donald Trump has warned California that the federal government will get involved if Governor Newsome does not handle the humanitarian crisis.
Even with its challenges, DTLA continued to grow, adding more news homes, along with increasing travel, leisure, shopping, dining and entertainment venues. The newest Apple Store is under construction on Broadway, coming soon to the Historic Core.
The DTLA real estate community has mourned the loss of a well-known, admired agent, Kerry Marsico, who passed away in 2019. His energetic spirit will be remembered as we prepare to take on all challenges and opportunities in 2020, we build on his accomplishments toward improving livability and future economic prospects of Los Angeles.
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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.