Category: Real Estate News

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The Coming Real Estate Crash in Downtown Los Angeles Lofts and Condos #realestate #crash

When will it happen again?  According to a recent Fortune Magazine article, U.S. real estate is 25% to 60% overvalued. To find out if that is correct, there are signs to watch out for. Professors at Harvard tells us How to Use Real Estate Trends to Predict the Next Housing Bubble.

Raw lofts Downtown LA
Will this Downtown LA loft cost $900,000 or $300,000 next year?

Here are the observations by the L.A. Loft Blog from our years of experience of talking to thousands of homeowners, buyers, sellers, renters and landlords about Downtown Los Angeles market:

We are in a “normal” real estate market, which seems boring to some and scary to others. Appreciation in Los Angeles is running around 6%, while nationwide average annual real estate value incease is usually around 3%.

Based on the numbers and previous crashes, Downtown Los Angeles is not yet due for a major #realestate #crash.  In fact, a major upswing is more likely than a big crash in the next few years. But much more likely is one of these: a normal healthy market, mediocre boring or stagnant market with stable prices.  Also, during the last housing crash in 2009, Downtown L.A. was one of the very last neighborhoods to drop in price, and then it was among the very first neighborhoods to shoot back up in value.  How’s that for a strong local real estate market!

While a few loft condo units have not increased in price in the past year, the average went up almost 8%.  One Little Tokyo Loft in DTLA sold just over a year ago for a little more than $300,000 and then, after significant restoration, it recently re-sold for a whopping $940,000!!!!!!!!!  PHOTOS

Beat out other buyers to the best deals. Get access to pocket listings, unlisted and off-market properties for sale.  Fill out the online form:

LOFT & CONDO LISTINGS DOWNTOWN L.A.  [MAP]

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SEARCH LOFTS FOR SALE UNDER $400,000  |  $800,000,  |   $30,000,000
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Raw Lofts and Fixers in Downtown L.A.
Raw Lofts and Fixers in Downtown L.A.

Copyright © 2016 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, seller 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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Bunker Hill Breaks Out – The Once Stodgy Neighborhood is Turning Cool #lofts #dtla

Bunker Hill Tower Loft

What was a few years ago beginning to look like a gerontology ward is today turning stylish.  I remember a while back showing a unit for lease at Bunker Hill Tower condos to a young couple who were new to Downtown.  When they observed the people coming out of the building, including a gray guy walking, inching along very slow with his walker, my renter clients said “this is not the place for us.”

Built in 1968, the Bunker Hill Tower luxury condominium building is still largely maintained exceedingly well, and has an excellent reputation for quality.  But with its seasoned residents, dated rules (absolutely no dogs or cats), no washer and dryer in most units, the building and its surrounding neighborhood were utterly lacking the turn-of-the-century historic vibe, and devoid of the renaissance spirit that abounds in the Arts District and Historic Core neighborhoods of DTLA.

Today, that is changing.  Now, when walking into the Bunker Hill Tower, we are more likely to see more fresh faces of energetic artists. Along with that, more of the once outdated condominium interiors are getting revamped, renovated and remodeled to a modern style.  One such unit has been completely loftized, removing the old wall-to-wall carpet and replacing with a more desirable lofty original, polished concrete. The ordinary ceilings have been pushed up to create high ceilings.  The late 60’s apartment-style condo doldrum has been transformed into an exciting 2,200 sq ft open-concept loft.  With large high-end Sub-zero style stainless steel kitchen appliances, a sprawling modern 5-star hotel style bathroom, along with jetliner views, this condo unit has been aptly dubbed the “Bunker Hill Loft“.  Currently a top secret location, the unit will be revealed to the public soon at www.BunkerHillLoft.com

bunker-hill-metro-stationA new Bunker Hill Metro Station is under construction that will soon link the neighborhood to the Blue Line for a quick jaunt to the Arts District.  The station and connector line completes a 1.9-mile gap between the Metro Blue Line and the Metro Gold Line. It will also make for a faster trip to Long Beach or Santa Monica.  The brand new station will be located right by the Disney Concert Hall, Broad Museum and Bunker Hill Tower condo building.

bunker-hill-loft

Get more information about Bunker Hill Loft. Fill out the online form:

Copyright © 2016 This free information provided courtesy Corey Chambers, Realtor, Realty Source Inc BRE#01889449 We are not associated with the developer, homeowner’s association or building management. For more information, contact (213) 880-99910 or visit LAloftLease.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, seller or renter is already under contract with another broker.

Downtown Los Angeles Real Estate News

JUST LISTED FOR LEASE WILSHIRE DOWNTOWN LOS ANGELES

Details are at:

http://www.laloftblog.idxco.com/idx/11753/details.php?idxID=240&listingID=16129618

Call for more information or to schedule a viewing (213) 880-9910

Corey Chambers, Realty Source Inc BRE#01889449