Recession Tips and Tricks for Today’s Urban L.A. Property Market
REAL ESTATE NEWS — Because panic proves to create more harm than the coronavirus itself, the Loft Blog provides news and information on how to avoid incorrect thinking, and instead to take advantage of opportunities created by changes in the economy and society. Unlike a typical economy, where there is more benefit to buyers and sellers across the board, a depressed economy has fewer buyers, along with a larger number of losers who must sell low, giving greater opportunities to the wealthy, plus rewards for the brave who take advantage of lower prices and more bargains in the real estate market. #corona #virus #realestate #losangeles
The best time to sell a Downtown loft: Spring 2018 — For those who are just now thinking of selling due to the panic, OOPS! a bit late it seems, but the good news is that today is likely better than selling in the year 2016, and selling today is also likely better than selling in the year 2022, when downtown urban condo prices are projected be about 7% to 14% lower. Rents will stay about the same over that time. For those who want to wait until the next upside peak, set your Google calendar for around 2028. Of course, there’s no way to guarantee any market timing or pricing, but readers know that the Loft Blog has been the most accurate for the last 10 years regarding Los Angeles real estate market projections. More importantly: To help with today’s real estate market, here are the most helpful hacks that are working today for buyers, sellers, renters, landlords and investors in DTLA today: | Blog Video
Buyers:
Time to start stealing lofts! Place lower offers, below asking price, low-ball offers.
Place offers on pending, on-hold, expired and cancelled listings.
Place offers on foreclosures and distress sales.
Buy the ugliest property in the best neighborhood, and then beautify it (works in good times and in bad). Many Loft Blog readers know this, but they’re too spoiled, so they buy an already fixed up place. This is fine too for those with the resources who would rather spend their time enjoying the beauty of an already fixed-up loft condo or lofty house.
Take advantage of motivated sellers, Mills Act and Savings Guarantee.
Create long-term financial security with an ADU, duplex or other multi-unit property.
Beat out other buyers to hot new listings. The best deals go quickly. That’s why the most successful home buyers and investors don’t wait to see what the crowd is trying to buy. The astute buy before a property is listed to the public, before the prices get driven up.
9 common buyer traps and how to avoid them
Moving Up: 6 mistakes to avoid when moving up to a larger home
Sellers:
Find out what your home is really worth
Find out what the home down the street sold for
27 valuable tips that you should know to get your home sold fast and for top dollar
Moving Up: 6 mistakes to avoid when moving up to a larger home
Avoid these mistakes: The 9 steps to get your home sold fast and for top dollar
Renters:
Now is the time to save $500 or more on when leasing a Downtown Los Angeles loft. Use the upgraded tour service. It includes a guarantee to save at least $500.00 or a full refund
Why pay rent when you can own? Take advantage of todays falling prices, super low interest rates and 0% to 2% down payments.
Reader Questions:
Q: What is Broadway lofts DTLA? A: Broadway Lofts are the loft rental apartment building in the Historic Core Downtown Los Angeles. Lots of character with industrial walkways and awesome rooftop deck. Check out www.LALoftLease.com.
Get a free list of Mills Act historic lofts with property tax benefits. Fill out the online form:
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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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