Month: December 2015

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Downtown Los Angeles 3 Bedroom 3 Bathroom Highrise Condominium For Sale

3-Bedroom, 3-Bathrooms condos are very rare and valuable in Downtown L.A. Check out this luxury tower condominium pocket listing that’s not listed on the agents MLS.  L.A. Loft Blog readers and VIP Buyers are the first to get priority access this fully updated 1,700 sq ft 3-bedroom 3-bathroom #dtla Bunker Hill Tower condo unit.

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This sunny #condo corner unit on high floor gives the most awe-inspiring panoramic sunset views through floor-to-ceiling windows, from Downtown’s skyline to the Hollywood sign and Griffith Observatory. Updated limestone flooring throughout, modernized kitchen with pro stainless steel appliances, roll-up cabinets and counter extensions, beautifully updated bathrooms with honey onyx wall tile, chiseled marble shower, granite countertops, glass shower doors. Includes 2 storage units by 2 covered deeded parking spaces.

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Many building amenities include gated guest parking, 24-hour security front desk concierge, 2 tennis courts, 2 fitness centers, resort style heated pool, hot tub spa, mens and women saunas, barbecue picnic area, recreation rooms 2.5 acres of common area grounds with rose garden. Building has large convenience store market, dry cleaner and hair salon. Walk to Disney Concert Hall, Center Theater Group, Civic Center, Broad Museum, Financial District, Grand Park, Restaurants and Metro Station. HOA includes all utilities: electricity, air conditioning, heating, water, cable TV, internet. This is the only fully updated 3-bedroom, 3-bathroom in Downtown in this price range.

DETAILS AND PHOTOS AT WWW.BUNKERHILLCONDO.COM, request a viewing by calling Corey Chambers at (213) 880-9910 or fill out the online form:

Find homes in Downtown Los Angeles:

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

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Corey Chambers Realty Source Inc BRE#01889449

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Loft Lending Problems – Downtown Los Angeles Area Home Financing Issues

While today may be the very best time to buy a home while competing buyers are dormant for the holiday season, there are few issues to be aware of regarding financing.

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Most Downtown Los Angeles lofts are industrial or commercial conversions that are special exceptions under the City of Los Angeles Adaptive Re-Use Ordinance. Many residential lenders will completely fail, delay or charge additional points to try to handle loft financing.

More than 25% of currently active DTLA lofts and condos have current or recent litigation that can affect the livability, financing ability and investment potential of the homes.

Out of area lenders, especially out-of-state lenders will have more delays. The paperwork is often processed incorrectly and must be re-done. Just this week, a buyer who wanted to move on a weekend was forced to wait until the following week because her lender and notary in Texas signed a document in a way that was unacceptable in California.

New consumer protection laws are also causing bureaucracy delays.   If a buyer needs to make a change to a signed mortgage agreement, it may now cause an extra 3-day delay for each change to the contract.

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Keeping these issues in mind, most real estate and finance experts now agree that interest rates and monthly payments will be going up.  Savvy buyers will take advantage of today’s low interest rates for the lowest monthly payment.

Because of the warm climate, and the fact that most Downtown Los Angeles buyers usually have no children in school, the home buying season starts very early in Downtown. Most prospective home buyers wait until after the holidays, and then there is a mad rush starting January 2. All of these buyers become competition for each other, driving up the price.  The most dedicated home buyers will start in October through December as to take advantage of less competition, allowing the placing of lower initial offers and saving money on the final home price.

Get a list of loft lenders. Fill out the online form:

Find homes in Downtown Los Angeles:

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

button        button (1)        

SEARCH LOFTS FOR SALE UNDER $400,000  |  $800,000,  |   $30,000,000
Browse by Building  |  Neighborhood  |  Size  |  Bedrooms  |  Pets  |  Parking

–

Corey Chambers Realty Source Inc BRE#01889449

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