Lofts Downtown Los Angeles – Page 110

REAL ESTATE NEWS

Will the recent stock market crash affect real estate? Yes, and weakening real estate has already affected the stock market. Many are unaware that the Downtown Los Angeles property market has been dropping in price and sales quantity for nearly 2 years now, as have many other local real estate markets across the U.S. American real estate caught the Coronavirus on January 21, 2020.

This week, it seems as though the economy is grinding to a sudden halt. Los Angeles Metro trains are virtually empty. Home buyers are evaporating. The L.A. Loft Blog provides analysis results stating that current real estate transactions have only about a 70% to 80% chance of success. Experienced Los Angeles real estate professionals say that the failure rate could quickly escalate to as much as a 93% chance of cancellation based on their 2008/2009 stock market crash experience, when 100% of transactions fell out of escrow for some Downtown Los Angeles real estate agents.

For the astute of means, such as Warren Buffett, significant market fear communicates that it’s time to get greedy. Jeff Berwick made 811% in profit in the crash. All markets offer opportunities for those who are motivated enough to learn, recognize and act on them. The biggest crashes on Wall Street or Main Street can bring the biggest opportunities for the most shrewd, especially for the cash-rich. They’re able to swoop in on bargain prices to gain all of the margin that the mainstream investors miss. If an economic crash is extra “bad”, it allows more buyers to come in and begin buying homes that they otherwise could not afford.

Many other types of opportunities exist in a crashing market. For renters who are paying high monthly rent, just about any time to buy is better than renting if they are planning on staying a while. Rent is a 100% loss to the renter that pays the landlords mortgage, while owning is almost always gaining equity for the home buyer. #crash #stock #realestate

Some stocks and businesses do well during economic downturns. Defensive stocks include:

Hasbro (HAS)
Ross Stores (ROST)
Walmart (WMT)
Amgen (AMGN)
Anheuser Busch Inbev (BUD)
H&R Block (HRB)
Dollar Tree (DLTR)

Other companies that can do well during recessions include film, theater and video game companies, along with other low-priced, economy products and services. Cigarettes, wine and chocolate can keep selling well, as do consumer staples like groceries, cleaning products, hygiene and cosmetics. Funeral services keep right on humming along. For real estate, the most economical properties, along with some super luxury homes continue doing well. Economical home renovators can stay busy. | Blog Video

Crashes and recessions are perfect opportunities to consult with financial advisors, spot inefficiencies, reduce costs, identify upcoming opportunities, reorganize, forge stronger plans, snap up bargains, prepare for new markets and lay the groundwork for bigger and better ventures.

The Alta loft that is the home of the L.A. Loft Blog was planned during a recession, then purchased at the bottom of a recession, helping to provide excellent long-term stability through all kinds of economic cycles. “We invested heavily in unique systems to really help buyers and sellers during challenging times,” says Los Angeles broker Corey Chambers, “That’s how we’re able to provide worried home sellers a guarantee that their home will sell at a price acceptable to them, or we’ll buy their home for cash.” That guarantee is especially helpful for move-up buyers to buy their new home without worrying about selling their current home.

Loft buildings that perform well during crashes and recessions include the Higgins Building, Alta Lofts and the Elleven lofts.

Home buyers and sellers can get free information on how to save thousands and reduce risks at www.ChambersGuarantee.com

Find out what your neighbor’s loft sold for. Fill out the online form:

<a href="https://laloft.wufoo.com/forms/qbg942419l39cs/" target="_blank" rel="noopener noreferrer">Fill out my Wufoo form!</a>

LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]

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.

REAL ESTATE NEWS

Are luxury apartments sitting empty in LA? Are they contributing to homelessness? It’s common for cities to have vacant units, but in LA, the market is relatively tight, according to LACurbed. #vacant #losangeles #homeless | Blog Video

Recently, a group of citizens marched through Downtown streets to protest new high-end apartment buildings. “Shame!’ they yelled in front of the Griffin on Spring and 825 South Hill, where prices for one-bedroom apartments start at $2,700. Some claim that the vacant apartments are contributing to the homelessness problem.

The fact is that these apartment buildings are actually quite new, and it takes time to fill them up. These apartments are private businesses. Forcing luxury apartment owners to take homeless in at cheap prices or free would cause them to go out of business. Governments cannot force private businesses to radically change the way they operate. Such extreme ideas have been tried for hundreds of years in the old Soviet Union, the old Communist China, Cuba. Those who want to see a major vacancy problem may check out the failed example of modern socialism, Venezuela.

Los Angeles really has relatively low vacancy compared to many major cities. All newly constructed apartments are vacant until they are filled up.

The real problem with the Los Angeles homeless and tent cities are the billions of dollars of incentives that attract homeless here, exacerbated by a city hall and police department that have stopped enforcing basic laws such as illegal camping, drug use, petty theft and other crimes routinely ignored by the LAPD. Homeless are being drawn to L.A., then not receiving the services that they need, including law enforcement and mental health services. Angelenos are tolerating an unlawful sacrifice of sidewalks, cleanliness and safety. In addition to costing billions more in lost business revenue and damage to the city’s international reputation, the cost in damage to health is too great. Women and children need to be able to walk on sidewalks to go to school, shopping and other necessary activities. Allowing the sidewalks to be used for illegal camping and drugs is an untenable situation. Regardless of who is to blame or who is not to blame, the sidewalk tent cities must stop immediately. The law must be enforced equally for rich, poor and middle class.

Researchers have also pointed out that LA’s zoning regulations make it difficult or impossible for developers to build smaller buildings that would be cheaper to build and cheaper to live in. This obstacle is being addressed by new state laws allowing Accessory Dwelling Units, but city ordinances still make it prohibitively expensive to build.

‘Empty homes penalty’
One of the reasons vacancy is the talk of the town right now is because Los Angeles City Councilmember Mike Bonin is pushing for a vacancy tax—also called the “empty homes penalty”. Unfortunately, Bonin’s bogus idea would cause fewer homes to be built, and would require government officials to constantly inspect private homes, which is unconstitutional and impossible.

Taxes and fines for vacancies is unnecessary, impractical and impossible. The bottom line: owners are already paying a stiff penalty when they are not receiving rent for a property, so the incentive already exists to keep vacancies to an absolute minimum.

Get a free list of lofts, condos and apartments for lease in Downtown Los Angeles. Fill out the online form:

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LOFT & CONDO LISTINGS DOWNTOWN LA [MAP]

Category: Lofts Downtown Los Angeles

Crash

New Luxury Apartments Sit Vacant, Draw Protest

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