L.A. – Page 51 – LA Loft Blog

Lofts and Condos in Downtown L.A. Without Costly Mistakes

13 Problems to Avoid in Downtown Los Angeles

When moving to a loft or condominium in the most exciting place on earth, buyers want the fun and convenience without the hassles and drawbacks that can often occur for new home buyers and experienced real estate investors alike. #dtla #homebuyer #mistakes To help home buyers get the good while dodging the negatives, here is a list of the top thirteen pitfalls to hurdle when looking into DTLA homes for sale:

Loft Lending Problems – Most properties in Downtown Los Angeles are in industrial or commercial buildings that have been converted to live/work residential units under the special Los Angeles Adaptive Re-Use Ordinance. Most home lenders are unfamiliar with these rare property types, causing a host of misunderstandings, delays, cost overruns and failed transactions. Loft loans can be a breeze when buyers use a Downtown loft specialist lender.
Lawsuits and Litigation – More than 25% of homes listed for sale are currently or recently involved in legal issues that may affect purchasability and profitability of the property. Downtown loft specialist realtors have the most knowledge and information on these issues to share with prospective buyers and to ensure a happy home purchase.
Maintenance Issues – While industrial and commercial lofts generally have superior robust construction, all properties require maintenance that is best done before the inspection process. Buyer also want to be in a building with excellent building maintenance and low HOA dues.
Low Appraisal – While home prices are above average, reducing the chance of a low appraisal, home buyers and seller should see a full CMA Competitive Marketing Analysis or comps (recently sold comparable properties) before entering into a transaction.
Out-of-Area Agents – Getting help from a local Downtown loft specialist is the most popular way to prevent errors and omissions that are common when relying on a real estate professional who is not among the most experienced and knowledgable about the complications of Downtown L.A. real estate.
Insufficient Knowledge – The costliest and most worrisome mistakes are made when buyers and sellers make hasty emotional decisions that are not based on tried and true experience in DTLA real estate. Home buyers and sellers can get free information easily from the LA Loft Blog. | ASK
Defects and Damage – All properties, buildings and neighborhoods in Downtown Los Angeles have issues that buyers need to know about before going to see properties. In addition to hidden defects, buyers need to know in advance about what is happening in and around the building.
Loft Issues – In addition to building conversion and architecture issues, buyer need to know about tax status, zoning, live/work status, renter ratio, retrofit inspections and other issues that affect the value and desirability of each different building.
Downtown Disasters – Urban areas have more going on, both good and bad. With a large homes population, common urban crime, and financial issues of some buildings, buyers need to receive an abundance of disclosures and info.
Air Quality – Most of Downtown Los Angeles is in a red zone of pollution, noise and other hazards. Prospective Downtowners need to know about all of them.
Too Many Buyers – The market is great for sellers, and challenging for buyers. When a super deal comes up on a beautiful home, many buyers must compete to try to buy the right place.
Not Enough Inventory – Home owners are happy with the results of their investment, and few have any reason to sell. The results is a low number of properties for sale on the market.
Missing Out on the Perfect Place – The #1 fear of buyers is to not see or to be too late when the perfect home does come up for sale. This can be prevented by automatically receiving all of the homes from all real estate companies as soon as they hit the market, including the unlisted homes, along with the best deals that are not on the internet.

While any or several of these issues can really put a damper on the enjoyment and profitability of a Downtown Los Angeles property, solutions exist that can prevent or eliminate any serious problems. Get a free information on Downtown L.A. homes. Fill out the online form:

<a href="https://laloft.wufoo.com/forms/m1spfx910pdzxmx/" target="_blank" rel="noopener noreferrer">Fill out my Wufoo form!</a>

LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]

Getting the Most Out of Downtown LA Lofts and Condos

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.

Top Investments and Best Deal Types in Downtown L.A. Condominiums #dtla #bestdeals #investments

The best deals go quickly. That’s why smart home buyers are looking for better ways find special deals that offer more amazing lofts, condos and houses at lower prices and with higher return on investment. Buyers often look at only agent listings and the internet. Buyers miss out on the hard-to-find deals, and therefore risk missing out on just the right home. Here are some of the best solutions:

New Homes in Orange County, Los Angeles, The Valley and Beach Cities

Best Deals – Types of Distressed Properties and Other Bargains

New Construction Homes – New build homes often provide a superior deal because they are newer, with the latest technology and highest construction quality at very competitive prices.

Mills Act Tax Benefits on Historic Lofts

Mills Act Homes – The state of California, along with counties and cities, provides a big discount on property taxes to owners of qualified historic lofts and buildings to help maintain the character of the structures.

Distress Sale – When a seller needs to sell quickly for any reason, or when the seller is having difficulty selling due to physical or legal condition of the property, it opens up the possibility of better negotiating power for the buyer, along with a lower price.

Bank Owned – When a home owner cannot pay the mortgage on time, the bank takes over the property, then sells it for whatever the market will bear, often at a very low price.

For Sale By Owner ( FSBO ) – Some owners prefer to sell their home themselves rather than using a listing agent. This can create a great opportunity for buyers to negotiate a lower price.

Expired – When a home is listed for sale but does not sell within the expected timeframe, it creates an opportunity to offer a lower price.

Foreclosures – When a home was not paid for on time, the property is taken over by another party, who often sells it quickly at a lower price.

REO – Real Estate Owned is a class of property owned by a lender, typically a bank, government agency, or government loan insurer, after an unsuccessful sale at a foreclosure auction.

Company Owned – Refers to a bank-owned or lender-owned property that has been taken over due to a foreclosure or similar action.

Estate Sale – When a homeowner passes away, the family or other heirs inherit and sell the property to distribute to the funds fairly to the new owners.

Probate Sale – When a homeowner passes away without a proper trust, a judge must oversee the transfer and sale of the property.

In Escrow – Many prospective home buyers give up when they hear that a desirable property is already in escrow with another buyer. Rather than giving up, the buyer can and should take steps to be an official back-up buyer.

Under Contract – A residential purchase agreement has already been signed, but the agreement may be canceled. Buyers can put in a back-up offer to take advantage of canceled contracts.

On Hold – The seller has decided not to sell the property for a certain period of time. The seller is likely making preparations to sell, and smart buyers will place an offer and then follow up frequently to get a great deal.

Vacant – Nobody is living at the property, so the seller could be paying mortgage and losing a lot of money. The seller might drop the price drastically, giving the buyer an excellent deal.

Divorce Sale – One of the fastest growing deal types, divorces are commonplace in Southern California, and create an opportunity where the property must sell more quickly, often at a lower price.

Auction – The property sells to the highest bidder, often at a below-market price. The auction process is often used for unsold new homes, foreclosures and bank-owned homes.

Pre-auction – When a home owner is late in mortgage payments, the property gets listed first as a pre-auction. Most auction listings are actually pre-auctions that will never go to auction, but offer a great chance to put in a profitable offer to the owner even if the unit is not listed for sale.

Pre-foreclosure – Before going into foreclosure, the property owner is often open to considering unsolicited offers, an excellent opportunity for savvy home buyers.

Raw Lofts – Loft developers sometimes do not complete every unit in a loft conversion condominium development. These raw lofts often sell at a lower price similar to other unfinished construction homes.

Off Market – Any property that is not listed on the MLS as Active is an off-market property. These reduced-visibility listings and unlisted homes offer superior opportunities to get a lower price when other buyers do not see them.

Private Listings – Some home sellers do not want the general public (or tenant) to know that they are selling their home, so the seller chooses to keep the listing private and only offer to show it to buyers who are qualified.

Unlisted – Properties that are not listed on the real estate professionals MLS Multiple Listing Service. With less competition, buyers can get a better deal and an easier negotiating process.

Pocket Listings – When a listing agent does not make the property information available to all other agents, the buyer can often get a better deal due to reduced competition.

Need To Sell Now – Homes that need to be sold immediately provide an excellent deal for buyers who are fully prepared and ready to grab a bargain.

Short Sales – When a home seller owes more than the property it’s worth, the seller can sell the property with the lender’s permission in a short sale. Short sales take longer and require twice as much negotiations, with the seller and also with the seller’s lender.

Unclaimed Homes – Any home that has not yet closed escrow can present a super deal for the buyer when the buyer implements superior search, bargaining and negotiating strategies.

Get a free list of distress sale deals. Fill out the online form:

<a href="https://laloft.wufoo.com/forms/xeikqu51l55wb5/" target="_blank" rel="noopener noreferrer">Fill out my Wufoo form!</a>

LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]

Tag: L.A.

Top 13 Mistakes to Avoid in Downtown Los Angeles Real Estate

Downtown Los Angeles Lofts and Condos – Best Deal Types and Top Investments

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