April L.A. urban property market delivered expected abysmal sales figures with total sold listings down by more than 50% from the same month in 2019. The median sold price fell by $15,000. The average price per square foot is down by 4.14%. Home sales total dollar volume fell 64%. Fear has hit the Greater DTLA home transaction arena with 72% more failed listings. Take a look at the falling market:
2019
2020
Listings Sold
38
17
Median Sold Price
$660,000
$645,00
Avg Price/Sq Ft
$667.41
$639.80
Total Volume
$33 Million
$12 Million
Failed Listings
36
62
We have not received data about days on market because that metric is not being reported, having been temporarily suspended by TheMLS due to coronavirus. We can presume that the days on market is likely equal or greater than the 80 days average that the L.A. Loft Blog reported last month, based on data from Downtown and nearby loft neighborhoods MLS areas 23, 42 and 1375. | Blog Video
The number of expired, cancelled and withdrawn listings has increased dramatically. The number of failed listings has also shot up, nearly doubling from 36 failed listings in April of 2019 to 62 failed listings in the same month of 2020.
Find out what the home down the street sold for. Get a free list of recently sold homes in your area. Fill out the online form:
PROPERTY AND INVESTMENT NEWS (Los Angeles, CA) — Of the many lessons that we learn by studying the great depression, the most vital are the teachings about what works to move things forward in down times — in a recession or depression like today. Recognizing long-term cycles, weaknesses and identifying opportunities are some of the most challenging tasks for most. By looking at a stock market that continues to try to take off in downward storm, we see a large percentage of Americans, even experienced stock investors, who are unable to recognize a medium-term economic downturn, along with its corresponding benefits. A large percentage of day-traders and retail investors will be pounced, plummeted and plunged into capitulation over the next 6 months to 2 years. Others swiftly pivot and shift focus to matters that align with the crisis and economic change. In a crazy environment, actions that previously seems odd can often become the smart play. Fortune favors the bold. #millsact #lofts | Blog Video
For example, our February 2019 post offered a “crazy” suggestion that property owners might consider selling a property, then using that money to buy bitcoin: Those who employed such a “nutty” action have produced bold financial results 230% better than people with stodgy, fearful hands.
Here are today’s biggest immediate money-making investment opportunities for short-term and medium-term gains:
Short term: Shorting low-quality stocks; shorting real estate stocks; buying bitcoin and selling the bitcoin at the top of a huge run-up.
Medium and long term: Blockchain (Get some Bitcoin and Ethereum. And get paid for your writing or videos at Steemit, Minds and LBRY), Gold, Healthcare, Internet Technology and eGaming.
Remember that money and wealth do not disappear in a crisis, recession or depression. These assets don’t fall of the edge of the earth, or down into a dark abyss; they only change hands. During these hard times, wealth moves out of the hands that don’t know how to hold on to the shifting money — the hands that do not shift. Education and practice are the only ways learn how to shift towards the right direction. These assets move into the hands of those who recognize, identify and place more effort into the new opportunities.
Have you noticed that the L.A. Loft Blog has shifted with the changing market? We’ve substantially increased the amount of content, as well as the number of websites that we post and broadcast to. We’ve purchased several of the investments that we’ve suggested, including real estate and Bitcoin, with excellent results. We shall purchase more of the right kind of investments for today and tomorrow, and hope that you do as well.
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