Tag: #dtla

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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 Along with that, more of the once outdated condominium interiors are getting revamped, renovated and remodeled to a modern style.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.

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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

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More Sellers than Buyers for Downtown Los Angeles Lofts and Condos – How Soon?

Market and Housing Forecast for #DTLA #RealEstate

In a recent real estate poll, fewer buyers said that now was a good time to buy, while more sellers felt that now was the best time to sell.  This marks a notable shift in the market. Is now best time to buy, sell or rent a loft, condo or apartment in Downtown Los Angeles?

nct-rooftop-terrace-dtla-real-estate

The L.A. Loft Blog, the authority in Downtown real estate, was the first to report in 2011 that the buying wave was coming.  Those who purchased in 2011/2012 gained an incredible amount of wealth in the form of home equity. The average Downtown homeowner who purchased at that time gained several hundred thousand dollars of equity within just a few years.  This is an incredible transfer of wealth.  Today is a very different story.

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U.S. to Follow Japan’s Economic Model

Today, the L.A. Loft Blog is the first to announce that this is the beginning of a NORMAL market. Normal can be difficult to understand, so here is what that means: There will be no dramatic transfer of wealth any time soon. Prices will likely remain largely stable over the next several years. While would-be buyers may feel that the market is making them feel nervous, the reality is that many buyers normally feel scared in a normal real estate market because it is such a major purchase, and because the buying process is a major life event for most. For 2016/2017, buyers can expect a good return on their investment, which, for Downtown, means to expect an above-average gain. Sellers can expect normal results of their sale.  Seller who wait for several years will be rewarded.

arts-district-beacon-lofts-pocket-jAs for those would-be buyers who are waiting for a big price drop before they buy — they will likely be disappointed.  And as for sellers who believe they can cash in now before the next big price drop, they will do OK, but selling now is not going to lead them to a winning euphoria. In fact, we will likely see several unexpected small run-ups in prices before we ever see a huge drop in prices again.  Our economy has been following Japan’s model recently. Since the U.S. is following Japan’s lead in economics lately, Japan’s recent market could be our best glimpse in to the future of our real estate market. This model shows a coming large run-up in metropolitan home prices.

In Downtown Los Angeles, the most exciting place on Earth, the housing market will remain tight. To be successful, buyers must beat out all of the many other other buyers to the best deals. Prospective buyers can get free access to bargains, unlisted homes and powerful technology at www.LALoftVIP.com.

Renters are still flooding into Downtown as DTLA has surpassed a half million jobs, and could be headed to one million jobs if the economy remains on the right track for a while.

2016 is the year to buy according to CNN:
http://money.cnn.com/2015/12/04/real_estate/2016-real-estate/

The biggest discrepancy in CNN’s article is interest rates.  The U.S. seems to be following Japan’s ultra-long-term experiment on government-instituted super-low interest rates. That has resulted in a stagnant economy, but surprisingly buoyant real estate prices. When investors can’t get results from other investments, they will turn to real estate.

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Here is the real #1 reason to buy for those who find that they like living in Downtown Los Angeles:

findoutwhat-1041 copyFollowing the L.A. Loft Blog’s NORMAL market call, there is an abnormally high rental demand in DTLA.  Despite dozens of new rental developments popping up, everything is pretty much full — the coming Garey Building recently reported 94% filled to capacity while under construction — before it even showed any model apartments for rent.

Look for rents to go UP, UP and UP!  As for rent prices in Downtown L.A., the sky is the limit.

Of course, all this talk about economics, the dismal science, puts even fewer people in the mood to buy, and even more in the mood to sell. Find out how much your Downtown home is worth at www.LALoftPrice.com.

 

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