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:

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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.

Market Lofts Litigation

Justin:  Where can we find out about the settled litigation at Market Lofts??

Corey:  That’s a great question, Justin.  Now that the real estate economy has shifted toward a buyer’s market, prospective loft and condo owners are being more diligent about their potential investments.  Knowing about litigation, lawsuits and loft lending issues ahead of time can save money, frustration and many hours, days or weeks of time.  Here’s an update on what we know about Market Lofts litigation.  #market #lofts #litigation

HOA involved in litigation, however conventional financing is available. We are told that there are two pending litigations that are wrapping up: Construction Defect Litigation and Parking Litigation. They are said to be almost done, but need to have the final paperwork filed at court.  Buyers may currently need to use a litigation specialist lender or loft specialist lender who has successfully completed financing for units in the building recently.  A list of loft lenders is available free from the L.A. Loft Blog.

Get a free list of loft lenders. 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 | PopularLuxury
Browse by   Building   |   Neighborhood   |   Size   |   Bedrooms   |   Pets   |   Parking

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.