Real Estate News – Downtown Los Angeles Booming in a Normal Real Estate Market

Real Estate Economics of Downtown L.A. Lofts and Condos Today

The L.A. Loft Blog, the authority on Downtown Real Estate, reported in 2016 that we entered into a normal real estate market. What is a “normal” real estate market?  Before we can answer that, we must answer the question about why we never hear the word “normal” when we hear news about economics . #dtla #realestate #news

Let’s first start by informing about how we at the L.A. Loft Blog have been helping buyers, sellers, renters and landlords by telling everyone (who was fortunate enough to read in 2011) to start buying real estate, to catch the wave before it passes, and that it would be almost like getting a free house. In 2013, the L.A. Loft Blog reported that prices were up and that the sky is the limit on prices.

The fact is, economics is the dismal science, and most ignore it. Buyers buy when they feel like it, or when they have the money, and sellers sell when they need to, or when they want to move or to cash out. The smart, astute and savvy do, however, at least pay attention to economics and integrate the facts as much as possible into their profitable plans.

In 2012, when the recession was at its lowest, the publishers of the L.A. Loft Blog eagerly put our own money where our mouths were, and went all in on purchase of real estate. We bought an Alta loft for $202,000 that year, and a few years later, the value was more than double.  While it’s not exactly  free, that is the closest thing to getting a free home for a home buyer.

While many took advantage of the low prices at that time, others professed to know that there was a coming wave of foreclosures that they were waiting for.  A heaping pile of garbage, the national mainstream news was dead wrong. The publishers of the L.A. Loft Blog informed our small readership that the “coming wave of forclosures” was not coming.  Indeed, it never came.  The only real wave was the wave of high prices that the L.A. Loft Blog forecast earlier.  We, with many of our clients are riding that wave all the way into the frickin’sunset!

National real estate news does not exactly match up to Downtown real estate because Downtown Los Angeles is a fast-growing urban center in an unprecedented renaissance and renewal. The recession was slow to hit Downtown in 2009, and then Downtown LA was among the first to escape hard times as DTLA again exploded, quickly with growth in 2012 when the rest of the country was still waiting for the “wave of foreclosures” that never appeared. Not only is the mainstream news media unable to forecast what it coming up in the economy, the mainstream news is utterly unable to report anything as normal simply because “normal” is not news.

Today, we’re in a normal real estate market as prices are approaching a moderate plateau. Normal means that the economy is growing at a relatively common pace, and PRICES ARE LIKELY TO CONTINUE TO RISE SIGNIFICANTLY BEFORE PRICES DROP SIGNIFICANTLY. The coming plateau will likely provide extended stability, the hottest market is yet to come, and then the following fall in prices will be both late and marginal. Downtown rent prices have been largely stable for the past 12 months, indicating a stabilizing trend for home prices. A great deal of cash today is on the sidelines. After unprecedented quantitative easing by federal governments (electronic printing of money), cash is relatively easy to come by as viewed from historic standards. While it’s not a time for investors to immediately double their wealth in real estate, today’s Downtown Los Angeles real estate market does present a great opportunity for renters to stop renting and lock in a historic low interest rate and affordable monthly payment.

Those who need crazy, abnormal gains quickly will need to invest in Bitcoin. Or let us know what you think will be a faster-growing investment at tips@laloftblog.com

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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.

Murder on Flower Street

Loft Crimes   #murder #flowerstreet

Downtown Los Angeles  —  The Los Angeles Times gave a written account that began with “Lisa Ramirez was the heart and soul of the Flower Street Lofts.” She was the beloved maintenance lady of the building that is the cool and hip original industrial live/work loft structure in South Park. In the rapidly escalating now-upscale neighborhood in the southwest corner of Downtown Los Angeles, Miss Ramirez worked just a block away from L.A. LIVE and the Ritz-Carlton, in the modernized residential building that has been a low-profile sanctuary surrounded by the most exciting place on earth, DTLA — until the unthinkable happened on January 10.

Lisa Ramirez worked at at the building.
Lisa Ramirez worked at the building.

Lisa had no way of knowing that a dangerous psychopath was staying with one of the residents.  Michael Rogers, a deranged boyfriend of a resident at the building, followed Lisa out of the complex and then forcibly hauled her into his girlfriend’s unit where he stabbed her repeatedly with a large knife. The motive was unknown, but, according to the Times, the killer then proceeded to walk down Hope Street carrying the knife, and attempted to carjack a vehicle.  After the driver called the police, the officers responded and ended up shooting Rogers dead on the street.

Behind the scenes, many of the residents knew victim Lisa Ramirez as their every-day cheerful cleaning woman, would be stricken with grief and anxiety as the breakneck pace of neighborhood change is suddenly combined with a jolting murder of Lisa, who was an uplifting friend and beloved, indispensable fixture of the community as reported by the Los Angeles Times.

Why did this happen? Can tragedies be prevented?

Other residents in the building have been on edge as noisy new build construction projects sandwich the building on both sides. Some locals reported that they had to move on. Others are hanging on and working to figure out how to prevent future calamities. The pace of excited new Downtowners moving into Downtown L.A. has not slowed. Enthusiastic renters and home buyers are not hesitating to snap up the great deals on some amazing New York style lofts with concrete features, high ceilings, large windows, modern kitchens, large walk-in closets and luxury bathrooms.

Walking her cute little pugs, one affected resident, a seasoned lady, angrily shouts “Don’t prop open the gate!” When asked about the recent murder, the resident responds “that’s how the murderer got in.” The murderer actually lived at the complex with resident girlfriend, and the killer presumably had keys to the complex and the loft unit.

As his past is reviewed for clues, killer Michael Dwaine Rogers represents a confusing contradiction between the violent domestic abuser and murderer, combined with the positive memories of his long-time relationships with girlfriend and fond memorials from family members. What caused Michael Rogers to go on a murderous rampage, violently taking the life of such an innocent, happy woman as Lisa Ramirez?

Flower Street Murderer stopped by LAPD on Hope Street
Flower Street Murderer stopped by LAPD on Hope Street

No answer or reason can be found to this dichotomy that was Michael D. Rogers, a brutal abuser who also demonstrated moments of loyalty, love and caring. An extreme example of a most extreme case — this contradiction of love and hate. While most will not personally encounter murder, Downtown Los Angeles residents skillfully navigate the pros and cons of a vibrant and challenging neighborhood, enjoying an amazing renaissance of bountiful and exciting restaurants, entertainment, new shops and sprawling transportation infrastructure, while residents must navigate many curve balls such as typical city crime and the scourge of homelessness. Perhaps the horrible murder was merely a symptom of the squeezing, constricting construction quake, vertigo and noise of numerous high-rise construction sights erupting on multiple sides of the once-tranquil residential site.

Michael Dwaine Rogers - Psychopath or victim of urban stress?
Michael Dwaine Rogers – Psychopath or victim of urban stress?

Michael Rogers was eulogized as a selfless older brother, always offering the best for his younger brother, who describe Michael as “loving and caring,” his brother Cameron described Michael as “strong, loyal, and protective, always reminding me he was by my side during rough times.”

A few residents moved away, but most are staying in their happy urban homes. The killer’s girlfriend still remains in her stylish loft.  She has not responded to the L.A. Loft Blog requests for comment. Residents are going on enjoying their lives in these amazing industrial lofts in the walkable heart of a rapidly-growing neighborhood, the most exciting place on earth.

Like all big city neighborhoods, Downtown Los Angeles has BIG pros and cons, with a much lower crime rate and way bigger job creation rate than many other major U.S. urban areas, DTLA continues to skyrocket with a booming economy and rising infrastructure of residential, commercial, entertainment and transportation venues. Homelessness continues to be the number one issue for Downtown L.A., while crime, mostly non-violent, requires constant vigilance. The South Park neighborhood is one of the fastest growing neighborhoods in Downtown LA, with numerous new homes, highrise tower condominium buildings under construction.

Murder on Flower Street - Merely a symptom of massive construction chaos in South Park?
Murder on Flower Street – Merely a symptom of massive construction chaos in South Park?

 

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