Category: home values

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Real Estate Market Drops 6.7%

Downtown Los Angeles  —  Properties have hit a plateau as the average price has dropped a bit in the last six months compared to the same period last year. Fewer buyers and sellers are motivated to transact at today’s home prices. L.A.’s urban real estate market stagnates while more people hunker down and spend more years living in the same old home.

REAL ESTATE NEWS

CNBC today reported that pending home sales fell 2.6% in October (6.7% for the year) as more buyers are priced out. The number of homes on the market in Downtown Los Angeles shrank a significant 20%.  #dtla #realestate #market

In Downtown L.A., recent home prices and speed of sale (Days On Market) stayed about the same as 2017. Median DTLA home price is up 9% to $675,000 while average price is down 2% to $790,000.

The biggest news is the shrinking overall market.  Fewer sellers and fewer sellers are making a move while more people are staying put.

The news is bad for many real estate professionals who are seeing reduced annual income. Housing supply is improving for buyers in some areas across the nation, but supply remains tight in Downtown Los Angeles as loft owners and investors remain comfy and confident with their investments.

Some landlords are feeling a pinch as fewer renters are seeking pricy Downtown loft apartments. “Whereas a few years ago, we were swamped with renters and buyers who needed our help, today the excited new urbanites, both renters and loft buyers, have all but dried up,” says loft specialist real estate broker Corey Chambers. The Chambers Team is now busy helping many sellers who are moving out of the area. Most, however, are staying, very satisfied with Downtown loft living.

Find out what the home down the street sold for

Find out what the home down the street sold for. Get a free list of recently sold homes with prices and photos, along with active for sale listings. Fill out the online form:

LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]

  Lofts For Sale     Map Homes For Sale Los Angeles

SEARCH LOFTS FOR SALE Affordable | Popular | Luxury
Browse by   Building   |   Neighborhood   |   Size   |   Bedrooms   |   Pets   |   Parking

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.

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2018 Edition Summer Home Sellers Guide A Housing Market Forecast

What to Expect When Selling Your Home —  Housing Market Forecast Summer 2018 Edition.  Considering Selling A Loft Or Condo?  Now Is The Season To Request Your Own Copy Of This Indispensable Tool.  

How to sell a loft, condo or house for more money:  The new Fall 2018 Home Seller’s Guide has just arrived.  #homeseller #guide

5 reasons not to For Sale By Owner
5 reasons not to For Sale By Owner

1. Exposure to Prospective Purchasers

2. Results Come from the Internet

3. There Are Too Many People to Negotiate With

4. FSBOing Has Become More and More Difficult

5. You Net More Money When Using an Agent

 

Recently there has been a lot of talk about home prices and if they are accelerating too quickly. In some areas of the country, seller supply (homes for sale) cannot keep up with the number of buyers out looking for a home, which has caused prices to rise.  The great news about rising prices, however, is that according to CoreLogic’s latest US. Economic Outlook, the average American household gained over $15,000 in equity over the course of the last year, largely due to home value increases.

WHAT TO EXPECT WHEN SELLING YOUR HOUSE

  • How To Get The Most Money From The Sale Of Your Home
  • The Role Access Plays In Getting Your House Sold!

CoreLogic’s latest Equity Report revealed that “over the past 12 months, 675,000 borrowers moved into positive equity.” This is great news, as the share of homeowners with negative equity (those who owe more than their home is worth), has dropped more than 20% since the peak in Q4 of 2009 (26%) to 4.9% today. The report also revealed: Order the report to read more.

Fill out the online form:

When a homeowner decides to sell their house, they obviously want the best possible price with the least amount of hassles. However, for the vast majority of sellers, the most important result is to actually get the home sold.  In order to accomplish all three goals, a seller should realize the importance of using a real estate professional. We realize that technology has changed the purchaser’s behavior during the home buying process. According to the National Association of Realtors’ latest Profile of Home Buyers & Sellers, the percentage of buyers who order their report to read more.

LOFT & CONDO LISTINGS DOWNTOWN LA  [MAP]

Lofts For Sale                Map Homes For Sale Los Angeles

SEARCH LOFTS FOR SALE UNDER $500,000  |  $900,000  |   Top Luxury
Browse by Building  |  Neighborhood  |  Size  |  Bedrooms  |  Pets  |  Parking

Getting the Most Money When Selling a Home
Getting the Most Money When Selling a Home

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.