Tag: buyers market

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Cooling Housing Markets in Las Vegas and Los Angeles Sellers Are Ready to Make a Deal

Cooling Housing Market Leads Sellers to make a deal.

Burr! It’s cold in here. The recent slow down in Downtown Los Angeles loft sales is showing up in the Las Vegas Desert Market of late. Higher inventroy and longer times on the market are common in both Los Angeles and Los Vegas.

Urban real estate cools. The Desert cools faster.

Desert areas’ real estate markets drop first. DTLA just finished cooling already during the virus hysteria of 2020/2021.

Las Vegas real estate market slows. News reports point out that the inventory has doubled in Los Vegas over this time last year. Sellers are more willing to negotiate.

Las Vegas inventory is shooting up. Expect longer selling times on the market, and fewer buyers.  Buyers who can be savy are likely to make a better deal.

See the full Story from Fox News in this link.

The interest rate for buying a loft is now around 6%. That means fewer buyers can qualify for the monthly payment. #interestrates #loftmortage

What sort of deal would you like to make now on a loft or home? Comment

Homebuyers and sellers: Get the answers you need. Fill out the online form:

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Copyright © This free information provided courtesy L.A. Loft Blog with the information provided by Corey Chambers, Realty Source Inc, DRE 01889449; MPR Funding Inc NMLS 2000513. We are not associated with the seller, homeowner’s association, or developer. For more information, contact 213-880-9910 or visit LALoftBlog.com, Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. EAC22071302KT Properties are subject to prior sale or rental. This is not a solicitation if the buyer or seller is already under contract with another broker.

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Downtown Los Angeles Loft Sales Slow – Median Home Price Down

REAL ESTATE NEWS  — The Los Angeles real estate market continues to cool, including urban condos.

As the L.A. Loft Blog warned two years ago, property prices do not always go up reliably. Home values dive periodically.  As the number of people moving has dropped precipitously, Downtown L.A. is officially in a buyer’s market.  #realestate #market #homeprices #dtla

Most Downtown LA homes have come down in price recently compared to the same period in 2018.  The local real estate market has contracted — what was hot a few years ago is now lukewarm. Let’s take a look at the actual numbers for Downtown Los Angeles, Metropolitan Area and Lincoln Heights.  In the first half of last year, 247 properties sold, while only 189 have transacted successfully in the same period of 2019.  That’s more than a 30% drop in the number of transactions.  The median price has declined from $615,000 to $605,000 (a price drop of 1.65%).

Those who are thinking about making a move want to put more thought and strategy into making the most of L.A.’s shrinking real estate market.

Find out what the home down the street sold for

Find out what your neighbor’s loft sold for.

Get a free list of area home sales with photos, descriptions and actual competed sale prices for the best determination of property values. Fill out the online form:

LOFT & CONDO LISTINGS DOWNTOWN LA  [MAP]

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SEARCH LOFTS FOR SALE UNDER $500,000  |  $900,000  |   Top Luxury
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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.