More than 25% of Downtown loft purchased in 2016 have been all cash purchases. Cash buyers save about 5% to 7% on a home purchase because they are not paying interest on a home loan, and they can often pay about 1% to 2% less on the purchase price. Home sellers are likely to accept a cash buyer for slightly less money than a financed buyer because the cash buyer does not need to get approval from a lender or appraiser. A cash purchase can often be completed in 10-15 days whereas the average financed purchase takes 30 days, and some, such as FHA/VA may take 45 days or longer.
Downtown Brushes Off Trump Trepidations, Moves Forward with a Loft Open House on Facebook LIVE Today #presidenttrump #dtla
Today brings to the Higgins Building an exciting LIVE webcast open house at noon, but first, a bit about the national election effects on Downtown Los Angeles:
Like New York City, Chicago and other major urban centers, Downtown Los Angeles citizens have been resolute against Trump and pro-Hillary. If fact, the Donald Trump piñata has been a best seller. Several prospective DTLA homebuyers have expressed to the L.A. Loft Blog their fears of market chaos should Trump take an unexpected victory. We’ve been reminded that economically powerful population centers such as the West Coast and big cities like Downtown LA have limited political power that can be Trumped by Middle America and the Rust Belt. Now that Clinton and other Democrats have been surprisingly Trumped, the open-minded and forward-looking citizens of Downtown L.A. are quickly moving in support, if not of the new president, at least of sharing his optimistic first proclamation that ‘No dream is too big, no challenge too great.’ With Downtown’s great renaissance, optimism reigns supreme as Downtown continues to surpass most economic expectations with astounding return on real estate investment and stellar job creation.
Immediately after Trump’s election win, financial wizard Jim Cramer advised Americans to take advantage of historic low interest rates while they still exist, saying “Lock it in.” Prospective Downtowners won’t let the election drama cause them to skip a beat. One focused Downtown home buyer will soon lock in the lowest priced Mills Act loft in Downtown Los Angeles. At 108 W 2nd Street, unit 705 presents the most affordable opportunity to lock in an amazing loft with high ceilings, original concrete floors and oversized industrial windows, along with its Mills Act benefits that could result in as much as a 66% savings on property taxes.
Open House Loft Tour Webcast at the Higgins Building Downtown Los Angeles on Facebook LIVE
Corey Chambers, the Los Angeles real estate agent known for buying Downtown L.A. lofts for cash, will be broadcasting Downtown’s real estate open house LIVE tour. Viewers can tune in to watch at www.DowntownScope.com on Wednesday, November 9 from 12:00 PM to 1:00 PM. The broadcast will be transmitted using Periscope and Facebook LIVE. Prospective home buyers can also come to the open house in person at 108 W 2nd Street, Los Angeles, CA 90012.
“The webcast will share the latest on what the Downtown L.A. renaissance is all about,” Chambers said. “As a live broadcast, viewers worldwide will get the chance to see what is really happening right now in the most exciting place on Earth.” This will mark the 3rd time that Corey Chambers has done this type of open house on Periscope and Facebook LIVE video streaming. The pilot premiere show co-starred actress Brandi Price, and the high-tech real estate publicity event led to the sale of a $1.1 million condo in the same building. A resounding success, that transaction brought the largest successful sale in the building since 2007, and the sale was made 56% faster than the recent average in the building. After that, Chambers attracted 1,085 LIVE viewers to this very modern kind of open house.
Chambers originally decided to do the LIVE webcast open house because he believes that most real estate agents just do the ABC’s of real estate, and they don’t implement the latest technologies to their fullest. He noticed that what should have been a popular loft that was listed by another agent had taken more than 100 days to sell because the real estate agent Multiple Listing Service was the only significant marketing tool, which is a “notoriously lazy way to market real estate” according to Chambers. In addition to the live open house tour on Periscope, Chambers, who is a veteran computer and satellite systems specialist in the U.S. Air Force, publishes the L.A. Loft Blog, provides the largest number of unlisted lofts and condos for sale in Downtown, and offers the latest technology to buyers and sellers (at no cost to buyers) such as heat map software that instantly shows which homes have positive cash flows, which unlisted properties are likely to sell next, and which properties are in distress and are likely to sell for a bargain price.
Recently, an even grander condominium unit was listed by another agent for 6 months without attracting a single showing. After Chambers was hired to correct the situation, he branded the property with its own domain name, BunkerHillLoft.com, and then conducted a LIVE webcast open house. The property attracted dozens of in-person viewers plus 1,085 LIVE web attendees, making one of the largest attendances for a residential condominium open house ever. Best of all, the property has received offers, and is certain sell for one of the highest sale prices in the building since 2007.
Chambers actually guarantees the sale of homes, and also guarantees in writing that home buyers will love their new home or he will buy it back. The seller and Corey must agree on price and time of possession.
Sponsored by the L.A. Loft Blog, the upcoming LIVE open house webcast will dramatize this aggressive style. It will take place at the historic Higgins Building in Downtown L.A. It’s not, however, merely a show and tell about a single home for sale. The tour, also a mini TV show with questions and answers called “Downtown Scope,” will also reveal how to avoid the 5 biggest mistakes in Downtown real estate, as well as tips on how to make the most of the hot Downtown L.A. market. The viewer with best question about Downtown or real estate wins a $25 Amazon gift certificate.
With high ceilings, original concrete floor, oversized industrial windows and a rooftop deck with dramatic views of the Downtown skyline, the loft can be previewed at www.HigginsLA.com
The L.A. Loft Blog is Downtown’s authority on residential real estate. Interview requests should be directed to scope@laloft.org with Downtown Scope in the subject line, or call 213-478-0499 www.DowntownScope.com
More than 25% of Downtown loft purchased in 2016 have been all cash purchases. Cash buyers save about 5% to 7% on a home purchase because they are not paying interest on a home loan, and they can often pay about 1% to 2% less on the purchase price. Home sellers are likely to accept a cash buyer for slightly less money than a financed buyer because the cash buyer does not need to get approval from a lender or appraiser. A cash purchase can often be completed in 10-15 days whereas the average financed purchase takes 30 days, and some, such as FHA/VA may take 45 days or longer.
prospective DTLA homebuyers have expressed to the L.A. Loft Blog their fears of market chaos should Trump take an unexpected victory. We’ve been reminded that economically powerful population centers such as the West Coast and big cities like Downtown LA have limited political power that can be Trumped by Middle America and the Rust Belt. Now that Clinton and other Democrats have been surprisingly Trumped, the open-minded and forward-looking citizens of Downtown L.A. are quickly moving in support, if not of the new president, at least of sharing his optimistic first proclamation that ‘No dream is too big, no challenge too great.’ With Downtown’s great renaissance, optimism reigns supreme as Downtown continues to surpass most economic expectations with astounding return on real estate investment and stellar job creation.
