REAL ESTATE NEWS: The best deals on Downtown LA lofts have always been during the holidays, when the smart, savvy buyers take advantage of the fact that most competing buyers are out of the market and not in the game during the holiday season. And WOW!!!! When’s the last time we saw a Black Friday sale with $50,000 off? This is a holiday sale that investors will absolutely love. Those who are considering buying a home in November or December are in the minority because humans are like lower animals in that they make fewer big moves during the winter. For the few who are thinking about moving or investing in a property, the time between Halloween and New Year’s Eve can be the very best time to get a super deal because there are fewer competing buyers. When an offer is places on an amazing loft, condominium or house during this time, the offer is more likely to be accepted. Beginning January 2, everything changes. The inventory only goes up a tiny bit, while the number of buyers explodes in DTLA. For those who wait until after the new year to get started, they will find themselves caught up in an exciting (and expensive) auction effect that drives up prices due to the large number of buyers trying to outbid each other. #blackfriday #lofts #dtla
$50,000 Home Purchase Savings Guarantee
For those homebuyers who not only want to find the home that perfectly suits their needs and desires… but to also purchase their dream home for the lowest possible price: Accomplish both of these goals; and here’s how it works:
Purchase a home for at least $50,000 less than the listed asking price guaranteed, or get $6,000 cash at the closing of the sale. This guarantee applies to homes over $800,000 going into escrow by Dec 31, 2017.
That’s pretty straightforward isn’t it?
This offer will not last. To get details on how to get the Black Friday $50,000 Home Purchase Savings Guarantee, request more info filling out the online form:
Prolific Con-Man Christian Andrews AKA Drew Christian Donovan AKA Jimmy Wayne Jackson Has Been Caught #dtla #realestate #fraud
REAL ESTATE NEWS (September 11, 2017) Los Angeles, CA — Thanks to the smart readers of the L.A. Loft Blog, and due to the quick work of the San Diego Police Department, swindler Drew Donovan has been captured before he can destroy the finances of any more innocent victims. After wreaking havoc on the financial welfare of anyone whom he could get ahold of, including local families with children, disabled persons, even inflicting malevolent damage to sophisticated real estate industry professionals and homeowners in Los Angeles, the bad guy is finally off the street.
The L.A. Loft Blog first covered in May of 2017 the story about the fake philanthropist then going by the name Christian Andrews, taking several Los Angeles area locals by offering to pay off all of their bills, give them new cars, even million-dollar homes such as Downtown lofts and Solaire luxury high-rise condos in Koreatown. His foray into real estate fraud is what brought him down, as he tangled with the wrong group of savvy people. With powerful communication and hard work, the LA Loft Blog and its readers have toppled LA’s dangerous money menace.
The LA Loft Blog first became aware of the charlatan when he contacted our office requesting assistance with a Downtown loft purchase. After receiving fake proof of funds, fake earnest money deposit initiation receipts and other phony financial instruments, the L.A. Loft Blog learned that the trickster has defrauded more than 100 individuals, families, mothers, children, elderly, disabled out of more than $1,000,000 in the Greater L.A. Area (see the original story).
Arrested — Going by the fake name Christian Andrews, and carrying a California driver license that says Drew Christian Donovan, the supremely skilled deceiver has this week been outwitted by the caring community of L.A. Loft Blog readers and writers. When the scammer tried to lure them into one of his “free real estate” traps, real estate agent Norma Fernandez and her quick-witted client Joshua Alvarez checked the L.A. Loft Blog, which confirmed their suspicions. They wasted no time calling police. San Diego Police Department responded quickly, checked diligently, and then took cheater Donovan into custody on existing felony warrants for violating his probation and writing big, bad checks.
To help keep this menace locked away for a long time, those with any information may share it with police and with the L.A. Loft Blog at email@example.com or call (213) 880-9910.
Professional Con-Artist Jimmy Wayne Jackson AKA Drew Christian Donovan AKA Christian Andrews Deceives from Small Town to Downtown
REAL ESTATE NEWS (September 4, 2017) Los Angeles, CA — The L.A. Loft Blog reported in May of 2017 about pretend rich guy Christian Andrews conning many Los Angeles area locals by offering to pay their bills, give them cars, even million-dollar real estate such as Downtown lofts and Solaire luxury high-rise condominiums in Koreatown. The skilled liar with many names promises to help those who are deserving with millions out of his trust fund if they help him avoid his interfering parents. The truth is that the con-man’s parents are dead, and he is really only avoiding his earlier angry victims while spryly hurdling the slow wheels of justice as he cheats his way from small town to Greater Los Angeles.
By gaining sympathy over his made-up terminal cancer, and his bogus story that he wants to help those who are deserving, Jimmy Wayne skillfully leads caring individuals into the void, all but rendering victims into human ATM machines, mindless sex zombies or drug-fetching robots to give him their money, meds, identities and even more sinister. The preying monster seems to have something insidious in store for just about anyone whom he can catch in his finely crafted web. #jimmywaynejackson #drewdonovan #christianandrews #fraud
The LA Loft Blog first became aware of the swindler when he contacted our office asking for help with a Downtown loft purchase. After observing fake proof of funds, fake earnest money deposit initiation receipts and other fake instruments, the L.A. Loft Blog has learned that the perpetrator has defrauded more than 100 individuals, families, mothers, children, elderly, disabled out of more than $1,000,000 in the Greater Los Angeles Area (see the original story).
The Latest — Going by the fake name Christian Andrews, and carrying a California driver license that says Drew Christian Donovan, the supremely skilled deceiver has this week been outed as Holland, Michigan native Jimmy Wayne Jackson, long-time fraudster on a mega-extended super-spree of illegal deception using fake checks, sham real estate transactions, phony bank wire transfers, other people’s credit cards and stolen identities.
We have just been contacted by an old-family friend who informed us of the flimflam man’s true origin. He’s been at it a long, long time. Hometown victim Carol reports that she knew him a long time ago when he was 10-year-old Jimmy Wayne Jackson of Holland, MI, from a dysfunctional family living at a mobile home park. Years later, Carol would lose touch as Jimmy turned into an 18 year old college DJ in Grand Rapids and then a DJ in Florida. About 9 years ago in back in Holland, MI, the young fraudster’s mom had passed away, and Jimmy never new his birth father. Carol and Jimmy grew close, so she thought. But the friendship was mere trickery. Carol reports that Jimmy came back to his home town, claimed he came into lots of money, and wanted to give it to deserving people. He defrauded Carol and several of the local townspeople, causing tens of thousands in damages to Carol alone. Years later, Jimmy did it again, ripped his old friends off a third time, making yet another astonishing round to take advantage of the folks who cared for him the most by claiming that he had come back to make amends. For those who were religious, Jimmy would not hesitate to use God’s name to lie, and take advantage of their faith to bilk and milk them for every penny. Carol said that two more home-town victims called her within the last year to report Jimmy’s latest thievery by false pretenses. His total estimated take is now more than $2 million.
While his mugshot captures a glimpse of his true character, the perpetrator has not paid for his career of crime. He has told some that he served time, but this super-slippery and talented weasel has even been able to con “friends” into bailing him out, as his supreme charlatan skills have allowed him to evade the law virtually 100%. He uses advanced real estate knowledge and banking know-how to trick old friends — even to outwit sophisticated business persons. The man with many names is at large and actively taking from innocent individuals and families. His motives are too torrid and depraved to detail on a real estate blog, but evidence suggests that the bad guy’s impetus may involve something weird like Ambien sex addiction, the sad combination that took down golf-great Tiger Woods. All victims are encouraged to immediately contact law enforcement and also to contact the L.A. Loft Blog with further information. The sooner we can get this crafty parasite back into an orange jumpsuit and iron bars, the safer America will be.
Additional victims have created another page with more information that might help to apprehend and stop the fraudster, also to try to protect families from the ongoing campaign of financial devastation by Drew Donovan aka Christian Andrews aka Jimmy Wayne Jackson.
Downtown L.A. Homes Sell For More Money, Faster Than One Year Ago
REAL ESTATE NEWS — Downtown Los Angeles continues to beat most real estate markets in both growth and stability. Compare recent prices, along with days on market, and we can see that prices continue to rise at a desirable pace, while homes sell at a brisk pace. Check out the market report:
In the most recent market (the last 6 months), Downtown L.A. homes sold at a median price of $619,500 with 42 days on market. #dtla #realestatenews
For the same 6 month period a year ago, the median price for Downtown LA (MLS areas 23,42) was $589,250. with 55 days on market.
This shows a value growth of $30,250 in 12 months with properties selling 13 days faster.
DTLA has also proven to be superior in down markets, slower to decline in price and faster to recover in price. While Downtown Los Angeles definitely has its ups and downs, it has proven to be safer than most neighborhoods as a financial investment.
Get a free list of Downtown Top 10 Best Investment Property Listings. Fill out the online form:
REAL ESTATE NEWS — Many Downtown area homeowners received a post card recently from a loft specialist real estate company stating that rents are declining. Because the L.A. Loft Blog is the authority of Downtown Los Angeles real estate, we’re going to help determine if this is true. Are rents really going down in Downtown L.A.? #rentprice #dtla
The post card fails to include the exact beginning and end period, and also does not mention the comparison period. The statistical statements therefore are not complete, and so it’s like saying a car is going 55 or 75 without saying miles per hour or kilometers per hour etc. The same is true when talking about rental rates. Panic selling is rarely a good idea, so Downtown home owners and landlords want to know the real details of what is happening to the DTLA rental market.
To know the real state of rents in Downtown, we need to look directly at the MLS Multiple Listing Service data, and compare the specific time periods. The generally accepted time period to observe in real estate is the past 6 months (the recent market period), and then to compare that to the same 6 month period in the years earlier.
We’re not going to use average because the MLS data contains errant massively incorrect data. Median is more accurate (the middle number), so lets take a look at the real median rental price for those specific periods:
So looking directly at the real MLS data, we can see that rents are generally not going down, but the rate of increase has most certainly gone down. A stabilization has occurred. No need to panic. In fact, the opposite is true. The right amount of new apartments have been built so that the thousands of new Downtown residents might not need to encounter huge rent increase in the near future, and landlords will likely not be able to raise rents dramatically. Downtown Los Angeles landlords will also not likely need to implement the 65% rent reduction that the recent postcard seems to suggest.
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After about 10 months on the market, the new build condos on the L.A. River have sold out. New home owners are excited and moving into their new homes. There might be a 1 bedroom and a 2 bedroom available that are not on the public list. We are told that a 2 bed 2 bath fell through and that 2980 #3 is now available. Call Corey for details (213) 880-9910. Those who are thinking about new homes can get priority access to unlisted new construction homes for sale at River House and other new developments by getting on the new homes interest list at www.NewLoftLA.com
Chapman Flats Lofts For Lease New Listings Availability
The Chapman Building remains one of the best deals in Downtown Los Angeles for those seeking to live in a genuine historic loft building with beautiful units, highly polished concrete floors, stainless appliances, big windows and a beautiful rooftop deck with hot tub spa. Here’s the latest update from Chapman Flats:
Here are what we have available as of current: Unit 607 – 795 sf – $1995 Unit 1002 – 765 s f- $1950 Unit 1102 – 765 sf – $1950 Unit 904-625 sf-$1850
On Notice units are #505 is 950 sf- $2100 unit #603 is 675 sf-$1780
Parking is an extra $150 per spot per month, and the single spots are unassigned. Tandem spots are assigned and cost $300 per month and is depending on availability. Our garage is detached and is a couple of buildings over. Please be reminded that prices are subject to change without further notice. Our leases are 13 months long.
We hold units for 15 days for $99. This would go towards your Security Deposit, which starts at $500, if you have good credit (675 and above/ no bankruptcies, no evictions), and income (2.5 x the rent per month). We also charge a $35 application Fee, and to move-in, you only bring in the first month’s rent and the rest of the deposit plus the estimated utilities for the first month, in the form of cashier’s check or money order. Utilities are paid for by the residents, except for trash which The Chapman pays for.
We have central AC and heating, washer and dryer hook-ups in each unit, if you wanted to bring your own washer and dryer. Otherwise, we have a laundry room at the basement that’s open 24 hours, they’re coin operated and we do have a coin machine down there just to make things convenient for you! We also have a gym at the basement that is also open 24 hours, and a common area TV room too!
We have a lounge area at the rooftop complete with a little fountain and an awesome view of the Financial District skyline. We also have a BBQ area and a Jacuzzi at the rooftop as well. The best way to see Chapman Flats lofts for lease and other awesome Downtown loft rental bargains is with the L.A. Loft 3-Hour Tour. Pay at www.LALoftTour.com.
Get a free list of new homes in Downtown Los Angeles. Fill out the online form:
Real Estate News (Downtown Los Angeles) April 24, 2017 — Here are two recent stories of how two innocent persons, both eager to move to Downtown L.A., lost their money and their identities when trying to move to Downtown L.A. One was a renter, and the other a prospective home buyer. #dtla #fraud
The first was a young lady named Diane who was looking for a good deal on Craigslist. Upon finding what she thought was the perfect deal, a 1,200 sq ft 2 bedroom 2 bathroom sky loft with amazing panoramic views, modern gourmet kitchen and large bathrooms and closets with many upscale designer touches — all for only $980 per month. She had to
have it quick before someone else took it. She filled out the online application. Diane never heard back from the property owner, except by an unlisted text phone number responded with text messages encourageing Diane to submit her application along with her personal information such as name, address and social security number. Weeks later, Diane still never heard back, and the text phone number was no longer responding to her messages. A few months later, Diane learned that her credit was bad because there were unauthorized charges and new unauthorized credit cards. Her identity had been stolen. After many hours and months of work, Diane has still not cleared up her bad credit caused by the identity theft.
While renters are the most likely targets of fraudsters, they are the only victims. Home buyers can be attached, often with larger losses. Here’s how a prospective home buyer lost everything just last week:
Peter is a friendly, caring, honest and trusting 50 year old man wth long-term health issues that are under control. He ran into an old friend a couple months ago. The old friend, going be the name Andrew Christian, told Peter that Andrew was was recently diagnosed with terminal brain cancer and needed to spend his millions of dollars of trust funds right away before he passed away and before his antagonistic parents took away his access to the funds. Peter was concerned about Christian’s supposed terminal illness and trusted that Christian really was going through these issues. Peter believed that Christian was telling the truth when Christian offered to help Peter buy a nice home for himself so that Christian could enjoying spending his trust fund money in a way that he found satisfying in his final days on this planet. This trust was tragically misplaced.
At first, Peter was stunned and delighted when they got into escrow with an amazing $1.4 million dollar luxury high-rise condominium in a vibrant neighborhood of Los Angeles. When Christian began to ask for small amounts of money and use of Peter’s credit card to help prevent Christian’s meddling parents and beaurocratic trust officers from catching word and interfering with their benevolent plans, Peter complied. After all, they were in escrow with a fantastic property that would be in Peter’s name, and Christian said he would also pay for 1 year of HOA dues plus extra money for taxes, insurance and miscellaneous expenses so that Peter would not need to worry about anything financially. On top of that, Christian had already handed Peter a check for $2.6 million dollars, to be used at the end of escrow. While Peter had not driven for years, he received a new car from Christian. Christian had really given Peter a much to be hopeful for. So he thought.
In the mean time, they had found an experienced Downtown real estate professional to help with the purchase of the property. The agent believe that the stories could be true because Peter had known Christian for 30 years and trusted him. After escrow reported that the earnest money deposit was never received, the agent notified Peter and Christian of this problem. Christian always had answers to everything: the trust funds and trust officers had a lot of rules an bureaucracy to deal with. Compounding the problem, the seller was particularly eager to work with the buyer because the comps were only about $1,200,000 yet the accepted offer was substantially higher than that. The listing agent was so excited that he failed to notify the seller that the earnest money deposit was never received by escrow, a major violation of agent fiduciary responsibility. Then, after Christian began to ask the buyer’s agent for assistance in the form of cash and credit card use for Christian’s hotel, the buyer’s agent notified Peter that the behavior of Christian looked very suspicious, and appeared to match that of common fraud schemes — an offer that is too good to be true, combined with a request for cash, credit cards or personal information to make the fantasy deal come true. This fantasy turned into a nightmare. Peter informed his agent that Christian had been engaging in the same suspicious behaviors with Peter, and that Christian and Peter really did not know each other that well. By the time the buyer’s agent and Peter reported Christian’s behavior to the police (the police were reluctant to even take a police report because fraud is so difficult to prove), the helpful buyer’s agent was out more than $1,000, and Peter had given Christian everything he owned — many thousands of dollars — plus racked up thousands more on Peter’s credit cards. On top of that, at least 2 more victims were known to have been taken. Probably many more. Checks and earnest money deposit given by Christian all ended up being fakes. The fantastic gift of a new car turned out instead to be a rental that was placed on Peter’s credit card without Peter’s knowledge. Peter’s gifted new car turned out to be a stolen car on Peter’s own credit card.
These fraud cases are painful yet excellent reminders that, if something seems to good to be true, it probably is. This especially rings true when a deal is offered to a renter or buyer that does not match the local market conditions, and comes with strings attached in the form of cash, credit cards or personal information. Buyer’s agents and listing agents have a duty to inform and warn their clients when earnest money deposits are not made on time, and when other suspicious and problematic issues occur. Buyers and renters must always be suspicious and ask many extra questions with they are not paying a market price for a home. Never give money, credit cards or personal information to anyone who is offering an special deal out of the blue.
Downtown Los Angeles is the most exciting place on earth, and, with homeless, lawsuits, loft lending problems etc, DTLA has more than its shares of dangers and pitfalls. Fortunately, these problems can all be avoided with the right information. Get a free list of 6 mistakes to avoid in Downtown Los Angeles real estate. Fill out the online form:
NEW LOFTS DOWNTOWN LOS ANGELES – Plans have changed several times regarding the renovation of the Downtown LA Jewelry District’s historic Foreman and Clark building into new lofts for sale or for lease. #foremanclark #millsact
REAL ESTATE NEWS – The developer had previously planned to create a mixed-use conversion and and/or a hotel. New homes: The latest construction plans filed with the City of Los Angeles planning department state that the Canadian developer Bonnis Properties intends to convert the 1929 building into residential use with 8,500 square feet of retail space on the ground floor. It is not clear yet if the new lofts will be for sale or for lease, but making loft apartments for lease is more likely based on what most other developers have decided to do recently. They are making a pretty penny on the high rents, and the big developers obviously believe that rents will continue their upward trajectory for loft conversion rentals. Prospective home owners can get onto the New Homes Interest List at no cost.
The 13 story historic Foreman and Clark building at 7th and Hill Streets was originally designed by Curlett & Beelman Architects. The structure was once home to the flagship store for men’s clothing retailer Foreman and Clark on its second through fourth floors. The clothier moved out of this location in the 1960s.
The Art Deco Gothic building is a city Historic-Cultural Landmark for its architectural elements, and because it exemplified the expansion of the early Broadway shopping district according to its application for landmark status.
A bar and restaurants may or may not be the anchors of the future renovation, depending on who you ask and when. We have also been told that it is actually 165 units that are slated to be created for residential use.
It is also said that the developer intends to fill out the 1920s Foreman and Clark building with 124 market-rate apartments (meaning none will be set aside for low-income tenants), with sizes ranging from 470 to 1,075 square feet. The loft redevelopment will also include two penthouses, which will be converted from space that was historically used as mechanical rooms. Hopefully the developer will keep . The penthouses measure about 1,300 and 2,600 square feet, respectively, with the larger penthouse being a prized two-story luxury condominium unit.
The Foreman and Clark building, which sits at the corner of 7th and Hill streets, is rectangular for the first four floors, but then it splits into a U-shaped structure, meaning that on top of the 4th floor, there is open space to be made into communal space for residents.
There will be no parking on site. The building’s never had parking, says Bartolo, and there are no plans to add any.
Bonnis is applying tax credits under the Mills Act right now and also seeking permits. Construction is scheduled to start some time in the next 12 to 15 months. The architect is Los Angeles-based OKB Architects.
Save on property taxes by owning a Mills Act historic building loft condominiums. Get Mills Act properties free list and information in your email. Fill out the online form:
Real Estate News – More than $2 billion in just a few years — that’s what we have gained in equity collectively in just the past 4 years as Downtown L.A. home owners. #invest #dtla
And that does not even include wages, salaries, rental income and other investments that we made. Add those in and we are taking in about a billion dollars a year. Not bad for one little neighborhood.
While we rely on the greater trends of urbanization, metro transportation and other massive infrastructure improvements, Downtowners, the residents and entrepreneurs who built and expand the community, deserve credit for the foresight, risk-taking, innovation and hard work that has created a renaissance and force of renewal of unprecedented proportions.
DTLA continues to surpass expectations with an ever increasing brightness of the future. Like the phoenix of Greek mythology, Downtown has come to symbolize rebirth and the ability to restart and relaunch our lives and businesses. It’s no wonder that so many singles move to Downtown to get their careers and lives going on the fast track to success.
The Brewery Lofts Art Walk Video Tour and Photos #brewery #artwalk
Thousands of art admirers and loft lovers gathered to see dozens of exhibits by artists and vendors at The Brewery Lofts in Lincoln Heights. The world’s largest artist loft rental complex, Brewery Lofts is home and workplace to more than 500 artists. Many of them show their creative wares in an open house art exhibition twice a year. This most recent event saw a great turnout of spectators and art shoppers. Check out the video of the October 2016 event:
Many then headed to the Brewery’s own bar and restaurant called Barbaras at the Brewery for a little after party and celebration of this year’s fun and successful event. Find a loft in Downtown Los Angeles at www.LALoftTour.com.
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Real Estate News — Loft Wars goes stellar! It has not yet even launched, but the new reality TV series has already gone into warp drive! Just a tiny mention in the LA Loft Blog and Craigslist, and the number of viewers went mega hyper. It looks like Downtown loft enthusiasts love the idea of an upcoming show about Downtown lofts and the drama and competition of real estate. Lots of people said they are interested in being on the cast and crew. Check out the new Loft Wars Facebook page at https://www.facebook.com/Loft-Wars-662782313897898/