Downtown Los Angeles Loft Market Hotter Than Ever, Moves to Pocket Listings

Downtown Los Angeles Loft Market, Now Hotter Than Ever, Moves to Pocket Listings

DOWNTOWN LOFT & CONDO LISTINGS:  FOR SALE  |  RENTALS

Los Angeles, CA — The weather may be cooling down but demand for downtown Los Angeles Loft spaces is actually heating up. In these times of economic uncertainty, eagerness to own such spaces in Downtown L.A. has actually grown — causing more demand than ever for what spaces remain — and more positive proof that Downtown is the place to be.  Keller Williams Realty Downtown specialists Realtor® Corey Chambers announced in 2011 that many signs of a market turnaround in the Downtown area were already becoming apparent, and now the numbers are in to confirm.  Buyers and their agents adapt by implementing new strategies, such as finding unlisted properties called “pocket listings.”  VIDEO: http://animoto.com/play/pGs2nhV1rhlxozgVEL9ziw

Downtown Los Angeles Loft Market Heats Up,  Moves to Pocket Listings
Downtown Los Angeles Loft Market Heats Up, Moves to Pocket Listings

Downtown Los Angeles was one of the last places to see real estate prices fall, and now it’s among the very first to see them rise. Local economists report the reason for this is simple: demand is up, while housing inventory is down. Recently, the number of available properties for purchase has shrunk from 139 to 125 according to MLS statistics. As any smart investor knows, this means that it’s now officially a seller’s market as the average selling price has increased from 95.44% to 112.50% of the listed price. In addition, costs are increasing from the former low-end price of around $96,600 to $107,500 with the high-end price correspondingly rising from $1,966,300 to $7,250,000. Now, in fact, very few properties remain under $250,000 at all. Likewise, the number of days a property is on the market has decreased too, on average from 85 down to 55 previously, with the best properties averaging a mere five days on the market.

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All of these numbers just demonstrate what Loft Living L.A. real estate professionals have been witnessing for nearly a year: greater demand means reduced inventory, higher prices and faster sales.  Indeed, according to Realtor® Corey Chambers, who writes the L.A. Loft Blog, their experience is actually even more dramatic than these existing numbers indicate, because they deal with the highest quality properties that the Downtown area offers. “We have seen the number of purchases grow dramatically over the past few months alone,” he notes, “and we have even more closings in the next few months.”

DOWNTOWN LOFT & CONDO LISTINGS:  FOR SALE  |  RENTALS

Pocket Listings Save the Day in Downtown Los Angeles
Pocket Listings Save the Day in Downtown Los Angeles

With demand so high and increasing, Chambers points out that most of the successful purchases currently in escrow for his buying clients involve properties that are not listed and not advertised.  Weary buyers usually find only frustration when searching online for properties. The lack of inventory presents itself as listings that inevitably turn out to be already sold or otherwise unavailable.  Five out of seven of Chambers’ clients are purchasing so called “pocket listings,” exclusive properties that are never entered into the MLS.  Most agents remain unaware of the listings.  “What the Loft Living team offers is different and better than pocket listings,” says Chambers, “because we have dozens of unlisted properties to choose from.” The properties must be good.  More than 50% of buyers who have seen them have purchased one.  They sell almost instantly because they are priced to sell.  The last 12 unlisted properties sold within hours, nearly all of which were not on the MLS and unknown by most other real estate agents.

Of course, given unpredictable gas prices and continued turbulence throughout the fiscal marketplace, it just makes sound sense — economic and otherwise — to live where you work and play, particularly now as Downtown L.A. continues its triumphant rebirth and redevelopment, the likes of which the area hasn’t experienced in decades.  As demonstrated by an ongoing influx of stores and businesses, everything one could want or need is in enviably close proximity; where else would one find world-class museums, historic theaters, celebrated landmarks like the Dorothy Chandler Pavilion, Union Station, Disney Music Hall, and of course L.A. LIVE — all in the immediate vicinity of such unique and trendsetting housing opportunities?

Mike P. enjoys his loft that was not on listed on the MLS.

Loft residence in exciting Downtown L.A. offers the kind of rare cosmopolitan atmosphere in a neighborhood that exudes historic and contemporary energy. For smart buyers eager to experience the best of both these vibrant worlds, Loft Living Los Angeles has proven itself time and again to be tops in its field.

For more information, contact Corey Chambers (213) 478-0499 or visit  LAloftBlog.com

 

DOWNTOWN LOFT & CONDO LISTINGS:  FOR SALE  |  RENTALS

 

Corey Chambers L.A. Loft Blog
Corey Chambers L.A. Loft Blog

Corey Chambers REALTOR©
(213) 478-0499
coreychambers@yahoo.com
GET PRIORITY ACCESS TO SECRET, UNLISTED LOFTS IN DOWNTOWN!
http://www.laloftblog.com/

Corey Chambers is a Realtor® with Keller Williams Realty
Double Platinum award-winning team with volume over $15 million in 2010
DRE#01889449

Target Store Opens In Downtown Los Angeles To Eager Residents

Target Store Downtown Los Angeles Opens for Business

DOWNTOWN LOFT & CONDO LISTINGS:  FOR SALE  |  RENTALS

October 11, 2012 (Los Angeles, CA)  —  Discount retailer Target began with a soft opening in its new Fig at 7th CityTarget location in Downtown Los Angeles yesterday.  The grand opening is set for tomorrow Saturday October 12.  The early opening gave the store management and employees a chance to present the operation to the public and make last minute improvements to iron out any kinks.

CityTarget Downtown L.A. Opens - Drew and Ted among first to shop
CityTarget Downtown L.A. Opens – Drew and Ted among first to shop

The large location contained its usual mix of high quality and flimsy Chinese-made merchandise.  There were a few rough patches.  One of the checkstand conveyor belts was not working.  One couple who tried to buy a new home garbage pale opened the box to find that it was too cheaply made, with the lid going askew.  The worse problem as one might expect was the garage located about a half block away in the Ernst and Young parking structure.  There were few directionals to inform Target shoppers of which way to go to get into the store.  Almost no directional signage.  Instead, the elevator had some confusing buttons with world cities on them.  Shoppers did not know whether to go to Amsterdam or Brussels.  Topping off the problems was a parking security guard that stopped this writer from taking photos of the surrounding neighborhood in the walkway outside of the garage.  “No photography allowed here,” he said.  Fortunately, the camera already contained photos of the store.

GET A FREE HOTLIST OF SECRET LOFTS AND CONDOS IN DOWNTOWN L.A.

Target Downtown L.A.
Target Downtown L.A.

Everyone agrees that the new Downtown City Target gets an “A” for design, decor and layout.  Minus some of the flimsy trash cans for sale, merchandise overall is very desirable, with competitive prices and a great selection of unique and useful products.  The checkstands and conveyor issues will certainly get worked out.  We can only hope that guests will be made to feel almost as welcome in the 7th Street parking structure as they are in the store.

Thinking about moving to Downtown?  Call a Downtown specialist Realtor® for free help.

DOWNTOWN LOFT & CONDO LISTINGS:  FOR SALE  |  RENTALS

Corey Chambers L.A. Loft Blog
Corey Chambers L.A. Loft Blog

 

Corey Chambers REALTOR©
(213) 478-0499
coreychambers@yahoo.com
GET PRIORITY ACCESS TO SECRET, UNLISTED LOFTS IN DOWNTOWN!
http://www.laloftblog.com/

Corey Chambers is a Realtor® with Keller Williams Realty
Double Platinum award-winning team with volume over $15 million in 2010
DRE#01889449