Tag: Los Angeles Real Estate

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Los Angeles Real Estate Sales Slow Dramatically During Lockdown

Residential and commercial real estate have slowed dramatically during the virus hysteria of 2020. Home sales and rentals have slowed to a crawl, while brick and mortar business space lease has all but stopped as more than 20% of retail shopping store tenants are either late or completely out of business.

“We have seen sale numbers across the board drop like I have not seen before,” said Jack Livingston, a research analyst at Avison Young.

In May $332 million of retail, office, industrial and apartment products sold in Los Angeles County, according to NKF data. That’s far below the $1.66 billion in sales last May as reported by the L.A. Business Journal.

For Downtown Los Angeles residential lofts and condos, the recent panic has placed the nail in the coffin, turning what was already a falling market into a blighted zone of tent encampments and exploding condo inventory. The L.A. Loft Blog shall delay the reporting of June DTLA sold home price market data. That report is expected to be released around Thursday July 9. Currently, the Loft Blog is preparing to add a unique series of helpful news about coming financial assistance for home sellers, buyers and renters, with various programs offering loans from $5,000 to $10 million. Those article are also expected to begin in July.

Get a free list of lofts with reduced prices and other deals. Fill out the online form:

LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]

  Lofts For Sale     Map Homes For Sale Los Angeles

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Downtown loft sales and rentals slow, but not as much as retail.

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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Downtown Los Angeles Real Estate Inventory Explosion: Desperate Sellers Debut

Los Angeles For Sale

REAL ESTATE NEWSThe number of properties available for purchase has recently shot up tremendously, as a whopping 251 homes have been listed for sale. The problem: only 16 properties sold in May. With so many for sale, and so few selling, it could take 16 months to get all of these properties sold. To make matters more clogged, the mainstream news media has been doing the worst job in recent memory when it comes to reporting economic woes. MSN and CNBC report that the flight to the suburbs is real and growing, as coronavirus changes the way people live. We’ve seen historic stock market volatility, historic job loss and historic drop in GDP, all surpassing the Great Depression, laying the foundation for The Greater Depression of 2020. The IMF agrees that the near future looks bleak. #losangeles #realestate #glut

13 loft condos now actively listed for sale at the Shybary Grand. Little Tokyo Lofts sellers are trying to unload active 6 listings. 10 units up for grabs at Bunker Hill Tower. 9 Skyline condos; a dozen lofts languish at Market Lofts; 9 new units at 939 Lofts; and at least a dozen lonely luxury units seeking owners at Metropolis. 28 listings have already reduced the asking price, with more likely to come. 17 listings show potential signs of distress, which could sometimes indicate more room for negotiation or price drops. SB Grand has recently been approved for FHA 3.5% down financing, which could help. | Blog Video

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Unless the Fed creates runaway inflation through continued radical money printing (which it has indicated it could), prospective home buyers can expect to see more inventory and more falling prices in the coming months.

Get a free report on any Los Angeles condo building. 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
Los Angeles sees glut of homes for sale as prospective buyers head for the suburbs

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.