When is the Right Time to Sell an L.A. Loft? BREAKING REAL ESTATE NEWS

U.S. housing market may be shifting, say some real estate economists #realestatemarket

Some homeowners are cashing out while prices are relatively high

REAL ESTATE NEWS

The housing market has tilted sharply in favor of sellers over the past two years, but there are very early preliminary signs that the winds may be starting to shift ever-so-slightly,” reports Zillow senior economist Aaron Terrazas. And according to Redfin, the year-over-year price growth rate for U.S. home sales has been dropping for five straight months and hasn’t been this low since September 2016. DETAILS

Housing tipping back to a buyer’s market as sellers cut prices

CNBC reports this week that home price growth is slowing in nearly half of the 35 largest U.S. metropolitan markets. After several years of substantial home price gains, the market seems to have found a limit to what people can afford. Some home sellers are starting to respond by lowering prices. RE/Max reports that several American housing markets are down year over year, while inventory has started to rise nationwide. DETAILS

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Southern California home sales plunge as housing inventory continues rising. Will home prices in Cali fall next? #homesale

https://www.youtube.com/watch?v=NFebagLaqnM

BREAKING NEWS

LOS ANGELES, CA (August 15, 2018) — Downtown Los Angeles is today feeling coolness in the real estate market. Publisher of the L.A. Loft Blog real estate broker Corey Chambers says, “The readers of the L.A. loft blog are some of the smartest in the world, so I have learned to really listen to them to find the truth in everything real estate.” He continues, “They are largely holding tight, very steady today. And this seems the most prudent course for most as prices are relatively high and the U.S. is today far along in the economic cycle.”

Based on the feedback from L.A. Loft Blog readers, many renters have decided to protect themselves against future skyrocketing rents have been buying homes. New families created in Downtown L.A. usually sell their loft to buy a house in the suburbs within a few years after having a baby. Some are always selling because they want to spend the money on buying a larger home somewhere else, or they have other plans for the money.

The number of motivated buyers has been dwindling in DTLA for several years. Just in the past few months, the number of loft buyers has nearly evaporated. “Not only the Downtown Los Angeles area, but all over California, real estate professionals have recently reported that the number of buyers they are seeing is down sharply. So it makes sense that those who are ready to sell are doing so.” Known for providing many years of accurate market calls, Chambers today warns that next year is likely to offer a diminishing return for sellers, with fewer buyers than 2018. Those who are considering selling a home may see a longer sale period with a lower sale amount for 2019/2020.

Special offer expires September 19, 2018.

LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]

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.

June 19, 2018

Cracks Appearing in Southern California Real Estate Market – Downtown Los Angeles Affected

When it comes to Downtown L.A. real estate, there is no better place to find out what is going on. This post will reveal everything from cracks to stone cold facts to crazy possibilities. #realestate #market #news #dtla

Southern California Real Estate Cracks Affect Downtown Los Angeles — Southern California Real Estate Market Cracks Affect Downtown Los Angeles

Readers of the L.A. Loft Blog are the most informed buyers, sellers, landlords and tenants. In 2011, we notified the world that the coming wave of foreclosures was probably not going to happen. We informed that the real wave to catch was the beginning of the economic growth cycle, and crazy low real estate prices. We foretold the fact that buying a Downtown Los Angeles loft or condo at that time would virtually like getting a free home. Fortunately, for our buyer clients, it turned out to be true as the average Downtown loft more than doubled from the mid $200,000s to over $600,000 today. The cost of the home has been quickly surpassed by the tremendous equity gained. The average home owner now has a net worth $400,000 higher than that of the average renter.

THE FUTURE OF DOWNTOWN LOS ANGELES REAL ESTATE

Six days ago, the Loft Blog reminded everyone that it is time to spot the changes now occuring, how to spot the canary in the coal mine in order to see what’s coming, and how to take advantage of the dynamics of today’s real estate market.

This week, the Orange County Register reinforced our insight, reporting that Southern California home seekers are placing 9 percent fewer homes into escrow this spring, a dip that caused one analyst to write his “Cracks Appearing” report.

Steve Thomas of ReportsOnHousing wrote: “Noticeable cracks have appeared that illustrate a cooling market”. He goes on to note that it is not suddenly a buyer’s market as there is a lack of available homes below $1 million. A recent count of 13,669 new SoCal escrows is down 1,341 sales contracts in 12 months or 9 percent. That’s also off 5 percent vs. the previous five years.

Supply of available homes is down, while at the same time, it is taking longer for homes to sell.

The bottom line is that the real estate market in general is slowing, with fewer transactions, as buyers and sellers are both more content to stay put where they are. The biggest losers in today’s real estate market are flippers, real estate agents.

Renters are also among the losers, as they will likely feel more and more like frogs in very warm water turning to boiling as the heat rises too slowly to notice unit it’s too late. Because prices are unlikely to fall substantially, but rather likely to meander up, most renters will find themselves increasingly priced out of the market.

SELL REAL ESTATE TO BUY BITCOIN?

Here’s the craziest of possibilities that is actually very likely to come true: Those who sell their home at today’s plateau, use the proceeds to buy cryptocurrency such bitcoin near its bottom in roughly a year, will be likely be able to sell and retire on tens of millions of dollars of gains just a few years later.

Please let us know who is crazy enough and smart enough to do something like this. We’d love to hear more stories from the really amazing readers of the L.A. Loft Blog. And, as always, we are here to help those who have questions.

Get questions answered about Downtown lofts, condos, apartments for sale and for lease. Get info on buildings, Mills Act historic lofts with tax benefits, 2-story lofts and prices of homes that recently sold in the area. Fill out the online form:

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U.S. housing market may be shifting, say some real estate economists #realestatemarket

Getting $14,551 More on the Average Downtown Los Angeles Loft Sale

For a Limited Time: 2% Total Listing Commission

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