Real Estate Investment Downtown LA
Why have so many of the world’s greatest investors placed billions of dollars of investment into Downtown L.A. real estate? They crunched the numbers, and they deduced that DTLA is the smartest place to expect a rewarding financial future. #dtla #realestate #investment
Downtown Los Angeles real estate has outperformed nearly every neighborhood in the U.S. for more than 10 years. For example, when real estate in the majority of other areas in the country began to decline in value in 2008, Downtown LA remained strong much longer. Later, when the majority of American neighborhoods were still sliding down, sinking and declining in 2012, DTLA was miraculously already booming again. Homeowners and investors who did their homework and figured out the astounding growth caused by Downtown’s revitalization have realized tremendous gains.
For renters who are continuously squandering their hard-earned salary by paying their landlord’s mortgage, making the big switch to owning a home helps them join the group who average 4,400% more wealth — home owners. That’s right: Homeowners are not just slightly better off than renters — the average homeowner is far wealthier with a net worth that is 44X that of the average renter. It should not take too much thought to decide which group we want to belong to. Homeowners are the group that almost always gain, while renters comprise the group that almost always loses. Renters are paying a mortgage — their landlord’s mortgage, but the renter does not gain equity or tax benefits. The good news is that renters still get something for their money, good times in an amazing loft in LA’s center of creativity.
Timing is so often a factor in making a big decision about real estate investment. Let’s enjoy bragging a bit. The L.A. Loft Blog gave sage, time-honored advice about buying in 2011, when we informed readers that buying a property was going to be similar to getting a free home. How right we were! Most of those who bought a loft in 2012 have already gained more equity than what they paid in purchase price.
Today’s real estate and stock markets are relatively high, but when affordability is taken into consideration, it’s still historically a great time to buy a home. And it’s a wonderful time for home sellers too. For those who need to sell, it is a very convenient time to do so while there are plenty of buyers willing to pay full asking price or higher for a good investment.
Here’s what L.A. Loft Blog readers have been doing recently:
Raiden Luft liked the idea of living in a downtown loft, but decided that he needed a traditional single family home with several bedrooms and bathrooms for his family members. He also decided that he preferred to be near San Francisco, so he put his Marina Del Rey penthouse condo on the market, and is now looking at homes up north.
Monty Norris decided that he did not want to deal with the problems of the SB Grand any more after freakish plumbing issues, leaks and unsatisfactory building management left him feeling that he had experienced the last straw. He placed his spacious, but dim loft on the market, eventually received several offers after sprucing it up and adding more lights, but the offers were all lower than he had hoped for due to the severe lack of natural light to the viewless loft. After accepting a cash offer, the buyer demanded thousands of dollars in repairs that Monty felt unnecessary. The escrow fell out, and Monty decided to take it off the market.
In the mean time, Samantha Peterson placed her own smaller SB grand loft on the market and it sold quickly for 100% of asking price. Her loft in the same building was 6 floors higher, much brighter, priced right and uncluttered. Buyers almost always prefer a depersonalized property, either vacant or properly staged.
Opportunity is knocking. Get more info on finding the DOWNTOWN BILLION$:
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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. Names have been changed protect privacy. 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.
