Tag: real estate market

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The Truth about Real Estate in Los Angeles

Why is it so hard to find honest real estate news for a big, sprawling metropolitan area such as L.A.? #realestate #losangeles #market

We only know of about three resources that have provide timely, truthful information about such forbidden topics as falling real estate prices, crime, homeless tent encampments, pit bulls, 5G radiation and other prohibited LA topics. Those who bring up these subjects find themselves subjected to attacks including censorship, ridicule and deplatforming. Fortunately, there are a few media that we can count on who are not afraid to broach these subjects. In addition to leader L.A. Loft Blog (which was just threatened with legal action today for daring to write about a murder that occurred at Flower Street Lofts two years ago), The Real Deal (accurately reported on falling Downtown real estate market a year ago); and Bloomberg (confirmed previous news reported by the L.A. Loft Blog) are the only media that have recently reported the truth about tough topics like the declining Downtown real estate market, defaulting real estate developers and falling property prices. The Loft Blog will not hesitate to report about real estate related crime and event the skeletons in our own closet like financial issues that have plagued most Downtown real estate professionals recently in a marketplace that has shrunk by 75%. | VIDEO

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Homeless Real Estate Agents

Being the entertainment capital of the world, it’s understandable that the community of Los Angeles will always be a local culture that’s extra sensitive to the audience, skillfully presenting media crafted in a way carefully designed to evoke a planned emotional response. The L.A. Loft Blog will always consider the audience, but will never put fake emotions or quick bucks above our responsibility and reputation for the truth. In an upcoming post, we will discuss today’s serious problems with real estate agents. Real estate salespersons are the last to ever admit their personal challenges. More than just business challenges, for some agents, it has led to recent cases of homelessness and even suicide.

Economic beauty is in the eye of the beholder. Falling real estate prices might be considered bad news in general, but it’s good news for today’s home buyers and tomorrow’s investors. The well-prepared, financially astute can always benefit from most any economic situation. Many investors rely on the big bargains uncovered during recessions in order to achieve their biggest expansions. As billionaire investors Warren Buffett succinctly puts it, “We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.” It may be difficult to tell which is which, so the L.A. Loft Blog clarifies to our readers that today, the financial news and stock market coverage tells us the truth: Others are GREEDY. The very smart readers of the LA Loft Blog know what to do: Get FEARFUL.

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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.

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Los Angeles Real Estate Tips and Tricks for 2020

New strategies and tactics for lofts, condos, apartments and houses in the L.A. market

REAL ESTATE NEWS

The more things change, the more they stay the same. Buyers, sellers, renters, landlords and investors can take advantage of this year’s cooling real estate market. Here are the best Tips and Tricks for Los Angeles real estate in 2020. #losangeles #realestate #market #news

Stop Renting — Owning a home has nearly 100% chance of long-term financial success, equity growth and wealth building. Paying rent is unfortunately a 100% financial loss. Renting is especially ironic for those who don’t move often, who plan to stay put for many years. In 2020, renters can buy an amazing loft with 0% to 2% down payment. #tipsandtricks

Buy low and sell high! While most investors are aware of these key factors to financial success. Home buyers and sellers often forget about the money gain and long-term financial benefits of buying at a low price and then selling at a higher price.

TIME TO STEAL A HOME

Low-Ball Offers – The beginning of today’s buyers market is the time for buyers to start placing offers that are much lower than the listed asking price. Buyer’s home purchase offers may include a list of comps and statistics showing falling home prices and declining economic news. This tactic is often successful when there are few other competing buyers, which is the case for most properties in 2020.

Buy the ugliest home in the best neighborhood – This is always one of the easiest rules for investors. Buying the less attractive property on a desirable street allows home buyers to get a lower price, fix up the property in a way that they like, and end up gaining a lot of extra equity and financial well-being.

2020 strengthening buyer’s market — Buyers may ask the seller to pay some of the buyer’s expenses such as closing costs, loan costs etc.

Buy multi-unit duplex, triplex, 4 plex etc. – Because 2020 has equal potential for boom, bust or stagnation, a multi unit gives more options and flexibility for home owners to maximize income, to increase quality of life or to reduce expenses by having more rent-paying tenants or stretch-out and gain elbow room, using more space when financial times are good. | VIDEO

HOME SELLING TIPS:

Consider starting with a pocket listing to offer an exclusive opportunity for prepared buyers who can make a quick purchase. With a pocket listing, the seller may take their time selling the place with less stress.

Appraisals may soon start to come in too low in 2020. A cash buyer, or buyer with extra down payment can make up for a low appraisal.

Escrows are slower than they were a few years ago. Some transactions fail after incurring expenses for the seller. Some buyers are unable to obtain financing. Sellers should check the contingency terms and time periods. Around 17 days is most common. Sellers should pay careful attention to extended contingencies.

Delays are common. Be sure to allow plenty of extra time for closing, and extra money for unanticipated costs.

Sellers are required to provide latent defects to the buyers that the sellers have knowledge of. Prevent cancellations and lawsuits by disclosing defects, broken items and problems up front. This includes anything that may affect the value of the property.

Ensure that a carbon monoxide detector has been installed before the inspections. Make sure smoke detectors are the newest kind with a 10-year SEALED battery.

For condos, provide the listing agent with HOA contact information, HOA dues, move in fee, move out fee and HOA move in security deposits. Provide the parking space numbers also.

Sellers must keep all utilities on during escrow until after the inspections and repairs are completed.

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Lofts For Sale
Los Angeles new tactics and strategies for real estate in 2020

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.