Real Estate News – Page 79

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

RENT PRICES

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:

2015 $2,550 Downtown LA Rents 2015 (pdf)
2016 $2,740 Downtown LA Rents 2016 (pdf)
2017 $2,750 Downtown LA Rents 2017 (pdf)

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.

Get free information on apartment and loft rental tours in Downtown Los Angeles. Fill out my online form:

<a href="https://laloft.wufoo.com/forms/r1ptmry50c8gjvk/" target="_blank" rel="noopener noreferrer">Fill out my Wufoo form!</a>

LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]

What's really happening wth Downtown Los Angeles apartment rental prices? — What’s really happening wth Downtown Los Angeles apartment rental prices?

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.

Los Angeles River House Update #newhomes #chapman

New Homes For Sale Los Angeles River Condos — New Homes Nearly Sold Out Los Angeles River Condos

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

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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:

<a href="https://laloft.wufoo.com/forms/z809dha1yg6zro/" target="_blank" rel="noopener noreferrer">Fill out my Wufoo form!</a>

LOFT & CONDO LISTINGS DOWNTOWN L.A. [MAP]