Tag: real estate market

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How to Buy a Loft in Downtown Los Angeles – Go Back in Time to Get the Best Deal

Buying a Condominium in Downtown L.A.
Should Home Buyers Wait Until Prices Crash Again or Should Buyers Go Back in Time?

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Because prices have gone up significantly in the past few years. our team of real estate professionals hears all too many complain that they want to buy today’s homes at yesterday’s prices. A typical real estate market lasts 6 months. That means that prices today are about the same as they were 3 months ago, and about the same as they will be in 3 months. Real estate agents and appraisers use this 6-month rule in determining property values. Those who want to buy 1 year from now or who wish they bought 3 years ago are not in today’s real estate market. But there is a solution. There is one kind of time machine that does work.

Should I buy now, or should I wait?

“If I only would have bought three years ago.” —  Our team hears that line all two often these days now that Downtown loft and condo prices have more than doubled in the past 3 years.  That sentiment usually coincides with a desire to own a home, but, unfortunately, also with a continuing failure to pull the trigger.  Those who are afraid to buy a home in today’s healthy, stable real estate market are, in fact, also likely to be petrified when confronted by a major recession.  Another line that we hear: “I’m going to wait for Downtown real estate prices to drop,” say some recent wanna-be home owners.  “Good luck!” says Alta loft owner Mike P.

Fortune Favors the Bold —  Virgil

Time is on Mike’s side because he was ready, willing and able to buy a home in 2012 when prices were at the bottom.  Mike took advantage of low prices, low rates, special incentives and a first-time homebuyer’s assistance program when they were available. Those programs are largely long-gone, and what similar programs remain are mostly rendered impotent in L.A.’s competitive, hot real estate market, where cash is king.

Housing prices have generally only sustained big drops during recessions, and the scaredy cats who are afraid to buy a home in today’s stable market have no rationale for proclaiming that they will have the money and guts to buy a home when a major recession hits again.

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The truth is that real estate prices usually go up and up and up most of the time.  They rarely go down. The long-term real estate price chart is UP.  As for the time machine that lets us benefit from the past — there is only one true way to go back in time. Today is the past when we look at it from the future, therefore, successful outcomes call for taking action today. Or, as Inc puts it, Choices Today Create Our Tomorrow.

Get the best deals today for the best results tomorrow. Fill out my online form.

Why take chances when you can get the LOVE YOUR LOFT GUARANTEE!

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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  |  More

 

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 necessarily associated with the home owner’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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When to Buy and Sell Downtown Lofts – The Real Estate Market Barometer

Is It Time to Sell or to Keep Buying Downtown Real Estate?

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alta-loft-for-sale-200-n-san-fernando-rd-305-03Ever wish you had a crystal ball for Downtown L.A. loft and condo home values? While many home buyers and sellers must follow their own personal needs when it comes to timing, those who are most profit-minded will attempt to buy low and sell high in order to maximize return on investment. Downtown has demonstrated itself to be a market timing barometer of sorts that can tell us when to buy and sell by comparing Downtown to the rest of the country.

During the 2008/2009 economic downturn, Downtown Los Angeles experienced a timing cycle that was different from the rest of the USA. Downtown L.A. continued to boom for almost another full year after U.S. real estate values real-estate-valuesin general began to stagnate and decline in price.  In 2012, the national news was still reporting on the faltering and declining economy while Downtown Los Angeles was already beginning a huge, rapid boom. As the media was warning about a bleak future preceded by a coming wave of foreclosures (which never came) the boom in Downtown was already beginning.  But most did not hear about the Downtown boom until much later because even the local news was reporting the national news on real estate. Even our own local newspaper, the Downtown News largely ignored Downtown’s real estate turn-around until the mainstream news began to give some positive information, again almost a year later.

South Park Downtown Los Angeles

While past results do not necessarily predict future results, what else is there to go by? Based on what we have seen before, if the U.S. is about to go into a recession or some kind of funk, Downtown is predisposed to keep booming for about 10 months.  Then astute buyers and seller need to keep an eye on the actual real estate market in Downtown to see when to invest heavily in Downtown real estate. One thing is for sure, we cannot rely on the mainstream news to keep us informed on Downtown real estate trends.

If history repeats itself, which it usually does, Downtown property owners will have 10 months to consider selling at a high price before Downtown homes join the downward slide (which economists recently predicted to happen in 2018 or 2021 depending on whom you believe). By the same token, Downtown homeowners currently have an additional 10 months to load up on real estate while the U.S. continues to gain ground.

Keep your finger on the pulse of the market by seeing what has sold recently in Downtown with these free tools:

FIND OUT WHAT THE HOME DOWN THE STREET SOLD FOR

GET REGULAR DOWNTOWN MARKET SNAPSHOTS

FIND OUT HOW MUCH YOUR HOME IS REALLY WORTH

SOLD in Downtown Los Angeles

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P.S. Your Referrals Help The Kids!   $125 donation goes to help the extraordinary kids in need at Childrens Hospital Los Angeles on every home we sell this year.  Help us help Childrens.  Who do you know considering making a move that would benefit from the services we provide?  Call me at 213-880-9910 with their contact info, or have them contact me.  You can also visit http://www.ReferralsHelpKids.com.  Thank you in advance!

Copyright © 2015 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 necessarily associated with the home owner’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.