Tag: mistakes

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How to Find the Best Loft, Condos or House and Gain Financially – #1 Secret

Real Estate Tips and Tricks: This Simple Tactic is the Most Overlooked Trick to Getting the Best Deal on an Amazing Home

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Open space with big windows and light, by the best walking areas near restaurants, shopping and entertainment. But what if the price is too high?  This blog post has answers to that question. For those who are very business minded, it comes naturally.  For the rest of us who must learn and work to make good things happen, we need to put in just a bit of effort to find and get the best deals.

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Before getting to this step, the home  buyer or renter will have maximum leverage for low price by getting access to all of the properties, and not just some of them.  For Downtown, these unadvertised bargains can be found with a free VIP Buyer Program or a paid VIP Renter Service such as the LA Loft Tour at www.LALoftTour.com.

20160826_200914Failing to ask is the number one mistake for humans who want something and don’t get it. So, when it comes to getting a good deal, we need to ask.  Only about 70% of home buyers and just about 30% of renters place an offer less than the asking price.  So up to 30% of home buyers and up to 70% of renters are not negotiating to get the very lowest price.  It is  a 2-step process.  The first step is to ask the seller, owner, listing agent or manager if there are other offers or applications for the property or rental.  Also ask how long it has been on the market.  Then place an offer.  This works best when there are 2 or more properties that you like, and you place offer on both properties.  Many renters and home buyers get obsessed with a single property, which reduces the chances of getting a bargain price.  The most seasoned real estate professionals of all types, especially those who must get a great price, place many offers on many properties. For those who are obsessed with a particular property, and want to try to get that property for sure, the safest tactic is to place the highest and best offer as soon as possible.

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Get access to the best deal on LA Lofts, Condos and Apartments. Fill out the online form.

LOFT & CONDO LISTINGS DOWNTOWN LA  [MAP]

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SEARCH LOFTS FOR SALE UNDER $400,000  |  $800,000,  |   $30,000,000
Browse by Building  |  Neighborhood  |  Size  |  Bedrooms  |  Pets  |  Parking  |  More

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Copyright © 2016 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, seller 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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Loft Lending Problems – Downtown Los Angeles Area Home Financing Issues

While today may be the very best time to buy a home while competing buyers are dormant for the holiday season, there are few issues to be aware of regarding financing.

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Most Downtown Los Angeles lofts are industrial or commercial conversions that are special exceptions under the City of Los Angeles Adaptive Re-Use Ordinance. Many residential lenders will completely fail, delay or charge additional points to try to handle loft financing.

More than 25% of currently active DTLA lofts and condos have current or recent litigation that can affect the livability, financing ability and investment potential of the homes.

Out of area lenders, especially out-of-state lenders will have more delays. The paperwork is often processed incorrectly and must be re-done. Just this week, a buyer who wanted to move on a weekend was forced to wait until the following week because her lender and notary in Texas signed a document in a way that was unacceptable in California.

New consumer protection laws are also causing bureaucracy delays.   If a buyer needs to make a change to a signed mortgage agreement, it may now cause an extra 3-day delay for each change to the contract.

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Keeping these issues in mind, most real estate and finance experts now agree that interest rates and monthly payments will be going up.  Savvy buyers will take advantage of today’s low interest rates for the lowest monthly payment.

Because of the warm climate, and the fact that most Downtown Los Angeles buyers usually have no children in school, the home buying season starts very early in Downtown. Most prospective home buyers wait until after the holidays, and then there is a mad rush starting January 2. All of these buyers become competition for each other, driving up the price.  The most dedicated home buyers will start in October through December as to take advantage of less competition, allowing the placing of lower initial offers and saving money on the final home price.

Get a list of loft lenders. Fill out the online form:

Find homes in Downtown Los Angeles:

LOFT & CONDO LISTINGS DOWNTOWN L.A.  [MAP]

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SEARCH LOFTS FOR SALE UNDER $400,000  |  $800,000,  |   $30,000,000
Browse by Building  |  Neighborhood  |  Size  |  Bedrooms  |  Pets  |  Parking

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Corey Chambers Realty Source Inc BRE#01889449

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