Category: Real Estate News

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Economy Gets Worse Due to Continued Hysteria

Wisdom has been replaced by fear.

REAL ESTATE NEWS

As the L.A. Loft Blog predicted, the economy is getting worse. The numbers 2021, in and of themselves, hold no magic. The economy shall continue to get worse until it either bottoms out, or until free enterprise is given free rein to do its own proven-wondrous thing. The herd is being shepherded in a manner that ignores thousands of independent-minded doctors and health care professionals, thus harming health, wealth and happiness. Politicians, fake news and unlawful social media have been given undue influence, and they are taking advantage of it like despots. Because of unprecedented censorship and propaganda, many Americans (especially big city dwellers) are unaware of the large number of doctors worldwide who have come out against lockdown, face masks and other harmful overreactions. Americans are losing confidence in the economy because of continued hysteria and government-created economic barriers. Average consumers are getting poorer. Most are unable to understand the powerful long-term impact of the greatest blow to America’s economy in recent history. | Blog Video

While failing traditional news fails to do basic journalism, it’s difficult for the average person to understand what is going on. The lunatics are trying to convince the working class that work is not essential. As the Loft Blog exhorted more than six months ago: ALL JOBS ARE ESSENTIAL. We’re now experiencing what comes when a basic law of economics is neglected; we’re seeing new kinds of economic distress emerge. U.S. spending has dropped for the first time in 7 months, according to the Wall Street Journal. Economy journalists call 2020 the “craziest, creepiest year for financial markets” that they’ve seen in half a century. Money is rapidly changing hands from middle class to the rich. Loft Blog readers understand that they shall fall behind unless they are in a position to take advantage of the change.

Markets take time to unwind before they may become healthy. Before real recovery can start, capitulation is also required. Instead of honest acceptance of shortcomings, we’re seeing an escalation in censorship, propaganda and dereliction. We’ve seen nothing that resembles full unwinding. We’ve seen no capitulation in the stock market or in suburban real estate markets. We can have no rapid v-shaped recovery because we haven’t seen any of these requirements met yet. Downtown real estate values continue to drop. Sadly, 2021 will be pretty much just as crazy, and perhaps even more creepy.

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Economies decline everywhere that economics is disrespected.

Copyright © This free information provided courtesy L.A. Loft Blog with information provided by Corey Chambers, Realty Source Inc, BRE 01889449, MPR Funding Inc NMLS 2000513. We are not associated with the seller, 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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Real Estate Agent Scams to Avoid

REAL ESTATE NEWS | Blog Video

When a faltering economy slows down real estate tractions in Downtown and other urban neighborhoods, more scams and frauds appear, and even legit real estate pros can get into dire straits leading to unscrupulous or unlawful behavior. As the big city real estate stagnates, here are common recent scams to avoid. To avoid getting scammed by desperate real estate agents, here are suspicious agent activities to watch out for:

  1. Failing to submit offers to home seller;
  2. Offering to help a home buyer pay for property, then failing to come through;
  3. Telling seller that the property is worth much less than it is, then buying the property or having friend buy it;
  4. Reducing asking price without permission;
  5. Telling the seller that the neighborhood is going downhill because minorities are moving in;
  6. Telling a minority buyer they should live with their own kind;
  7. Failing to disclose known defects and deleterious conditions;
  8. Telling a home seller that the home is worth far more than it is, in order to get the listing;
  9. Failing to show the property to any buyers;
  10. Failing to get any offers on the property.

In down markets, some agents find that their commissions are no longer coming in regularly, and they cannot afford to renew their credentials. Others may get too aggressive, and get a negative record on their license such as suspensions or other disciplinary actions. Always check to ensure that the real estate pro’s license in is good standing. Check out licenses on the California Department of Real Estate status lookup website.

Here are links to info on more real estate scams to look out for:

https://www.laloftblog.com/?s=scam

https://www.bobvila.com/slideshow/buyer-beware-9-real-estate-scams-to-watch-out-for-50456

Get information on Downtown loft litigation and lawsuits. Fill out the online form:

Copyright © This free information provided courtesy L.A. Loft Blog with information provided by Corey Chambers, Realty Source Inc, BRE 01889449, MPR Funding Inc NMLS 2000513. We are not associated with the seller, 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.