LOS ANGELES HOMES FOR SALE | LOFTS | FOR LEASE | UNLISTED HOMES
There are lofts in L.A. It’s the land of variety, single family homes, condos, lofts, properties with character that offer a refuge from the ordinary. The average new construction home in the area is close to a million dollars. Tiny homes and container homes are nowhere to be found in the city of expensive regulations and bureaucracy. Those who want to get creative with building can do it, but they are expected to pay extra for the privilege.
Los Angeles real estate is today known for a growing number of homes exceeding the $100 million mark. Sylvester Stallone just listed his 21,000 sq ft digs for $110 million. Other celebrities have recently purchased and sold homes in the more modest $3 million to $27 million range.
The first thing to be aware of when considering the purchase of a home in the Los Angeles area is the homeless population explosion, and accompanying wave of violent crime. There’s a reason why the area is home to many homeless tent encampments and derelict motorhomes. It’s a warm paradise with little or no law enforcement of camping laws and substance abuse laws. Petty theft and many other crimes are also neglected by city officials and LAPD. The poor and the very rich are not required to follow the same laws that the middle class tax payers must follow. Most homeless are not offered proper shelter, safety and social services. Most wealthy are exempt from the problems, or are otherwise able to avoid problems of homeless tent encroachment, blocked sidewalks and streets, Millions of locals are still in denial of what they see in front of their own eyes. The international press, however, minces no words about the decaying city, U.K.’s Daily Mail dubbing L.A.’s current situation an “apocalypse.” The world is shocked at how Angelenos are allowing their city to be taken over by filth, junkies and violent criminals.
Los Angeles contains a variety of neighborhoods. Suburbanish neighborhoods like Sherman Oaks are not as badly afflicted as inner city neighborhoods in and around Downtown. | Blog Video
Some amazing older homes in the area qualify for significant savings in the form of property tax benefits, in exchange for owners maintaining the original architectural elements of antiquity. These Mills Act approved historic homes includes several loft condominium historic buildings.
This region is subject to earthquakes. Most loft conversion condominiums have been retrofitted to prevent collapse in the event of a major quake. Thousands more apartment buildings still must undergo seismic retrofit, particularly those of soft-story dingbat construction on flimsy stilts above parking spaces.
A few homes in the hills have septic systems, with no municipal sewer service, which may call for additional inspections and maintenance. Even fewer Los Angeles homes have leased land. Most real estate in L.A. is fee land. A few neighborhoods, like River Park at Taylor Junction by Taylor Yard and Rio De Los Angeles Park, have a 99 year lease of the land that the homes sit on. Leased land properties can offer lower initial purchase price, with the trade-off of reduced long-term investment potential, and diminished inheritability.
Not everyone is moving out of Los Angeles. If they did, the home prices would not be as high as they are now, and increasing in many neighborhoods. In fact, there are almost as many moving into L.A. as there are moving away. They’re still paying a relative fortune for LA real estate — and taxes. Unfortunately, the city’s expenses are growing faster than revenues, as those moving into the city demand more services. Homeless generally don’t pay real estate taxes.
The entertainment capital of the world, Los Angeles offers upward mobility and rapid advancement of social status. L.A. is all about having lots of choices. Besides the Hollywood film industry, Beverly Hills wealth and California beach culture, there is too much variety and overabundance of neighborhoods, lifestyles, cultures, real estate types and architectural styles than what one article can begin to touch on. Even with most of the restaurants stymied or shut down, LA is the place where one can enjoy a different restaurant every day, without ever running out of new restaurants to try. The same goes for variety in general. Surf in the morning and ski at night without leaving the Greater Los Angeles Area.
The same city with some of the world’s most valuable mansion estates today provides free real estate for homeless, albeit sketchy, unlivable, unsafe and untenable. Fortunately, the city also provides some legit ownership programs for low and moderate income home buyers with very low down, sometimes no down payment.
Some of the most popular neighborhoods sought after by Loft Blog readers include: Downtown Los Angles, Lincoln Heights, Chinatown, Boyle Heights, Pico-Union, Westlake, Echo Park, Elysian Park, Elysian Valley / Frog Town, Koreatown, Silver Lake, Hollywood, East Hollywood, Glassell Park, Cypress Park, Montecito Heights, Mount Washington, Highland Park, El Sereno, Eagle Rock, Santa Monica, Venice, San Fernando Valley, Long Beach and Orange County.
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LOS ANGELES HOMES FOR SALE | LOFTS | FOR LEASE | UNLISTED HOMES
Copyright © This free information provided courtesy L.A. Loft Blog with information provided by Corey Chambers, Realty Source Inc, BRE 01889449. We are not associated with the seller, homeowner’s association or developer. For more information, contact 213-880-9910 or visit LALoftBlog.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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