Jorge, Other/Just Looking in Los Angeles, CA

What is the current market tren for Downtown Los Angeles?

Asked by Jorge, Los Angeles, CA Mon Jun 11, 2007

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Jaira (Ventura County Realtor)’s answer
Most of Los Angeles County currently is a buyers market. Existing homes are staying on the market longer, and sellers are much more negotiable when in comes to terms. Most listings will except below asking price. So first find a good reputable agent and have them run comparble home sales in the area you are considering before submitting your offer and then depending upon how long the property has been on the market determine how much below list price you are going to offer, the longer the home has been on the market, generally the lower offer, your offer can be because the seller will be in a position to accept lower offers the longer he has been on the market and he feels the urgency to sell.
I hope this helps.
1 vote Thank Flag Link Mon Jun 11, 2007
Hi Jorge:

I find that most sales are happening in Downtown Los Angeles as pocket listings. For example, we negotiate with the Seller a fair market value for their home. Instead of listing the home and letting it sit, the sale happens and the general public never even sees the home hit the market.

If properties are sitting on the market, they are usually listed with out of the area agents or new agents in Downtown Los Angeles. They usually don't understand the market and they usually don't have in-house properties for their listings.

Living Outrageously For Today ®,
Theodore Trentman
http://www.Lofts.BIZ
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Keller Williams Realty
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Ted@LoftLivingLA.com
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0 votes Thank Flag Link Sat Jan 4, 2014
Hello Jorge,

If you are looking to buy in Downtown. Now is a great time.For july medium prices were $465,000 for 2008 compared to $519,000 in 2007. Not much of a drop but about 10%. Prices are lower. Also the number of units sold year to date is 85 through July VS 153 for year to date for 2007. Quite a jump down.

Best,

Monique Carrabba
Keller Williams Wilshire
The Reavis Group
mcarrabba@kw.com
0 votes Thank Flag Link Sun Aug 10, 2008
Some of the lofts that use to presell out are now done and still not sold, so my downtown source tells me.
0 votes Thank Flag Link Fri Jul 27, 2007
I'd love to know where those lofts are. I've got tons of buyers for them.

Living Outrageously For Today ®,
Theodore Trentman
Keller Williams Realty
213-747-5638 Desk
213-948-3165 Cell/Text
213-232-7778 FAX
213-596-7707 Private Fax
DRE#01780236
Ted@LoftLivingLA.com
KW's #1 Group in Units Closed in Los Angeles and Beach Cities
#1 Keller Williams Team in All of North America (2006/2007)

Visit http://www.downtownLAcoupons.com

Save a life! Adopt a pet. Visit http://www.PetHarbor.com or LIKE this Facebook page... http://www.facebook.com/pages/Pets-On-Death-Row-Southern-California/182831315099355

LOFT LIVING LA® provides diverse solutions for people who want to live and work in creative environments throughout Southern California
Flag Sat Jan 4, 2014
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