Best Time to List a Home, According to the NYT

Apparently, April is the best time to list a property. General rule of thumb is Spring & Summer.

The factors considered: "the number of days each property spent on the market; the rate at which properties listed at various times of year sold above or below asking price; the number of online views listings received; the total number of listings at any given time; and the average listing price in each area at various times of year."

Market is Shifting, What to Do, What to Do? + Good DTLA Buys

I'm seeing this more and more--price drops. Some were way overpriced to begin with (some Sellers are still stuck in 2018) and some are just delusional thinking that Buyers don't know what's going on.

But does this mean that Sellers should jump ship? Well, that depends. Prices are still pretty high overall. If you wanted to sell in 2018 but didn't, maybe 2019 is the time to sell. After all, inventory is still very low, and you can still fetch prices higher than any year before last.

Should Sellers hold? If the rental market in your neighborhood is still hot (meaning less than 60 days on the market), and you're able to make some cash or at least break even on your costs by renting out, why now? Let someone else pay for your mortgage and expenses while you move on to possibly buying another property.

Which brings me to the fact that we are in an interesting place in the market where prices are shifting and buyers have more leverage than they did even 6 months ago. Look for deals. Look for properties sitting on the market for more than 60-70 days. Look for negotiation opportunities. Interest rates dropped again recently so take advantage. This is what investors do when the market begins to shift. Because who knows how long this shift will last.

Some very good DTLA buys right now:

Mura
629 Traction Ave #224 - Arts District (Red Hot area)

DETAILS: 1240sf, 2 + 2 with rare townhouse style floorplan and bonus 180+sf loft space and 2 parkings spaces! $819k or $660/sf. Building has a pool, gym, 24/7 security, BBQ, outdoor lounge. Super low HOAs of approx $550/mo.

WITHIN 3 BLOCKS OF: Little Tokyo, Hauser Wirth, Grow, Pie Hole, Wurstkuche, Woori Market, Shinola, Salt & Straw, Aliso Village, Inko Nito, Nightshade, Sci Arc, Gold Line, MOCA, Arts District Brewery, Umami, Philip Lim, Woo, Garey Building, Hammer & Spear & so much more.


Library Court
630 W. 6th St - Financial District 

DETAILS: 1180sf, 2 + 2 with open style living/kitchen and 2 parkings spaces! $685k or $580/sf. Building has an outdoor deck, gym, 24/7 security. Super low HOAs of approx $690/mo.

WITHIN 5 BLOCKS OF: Nomad, The Bloc, Pershing Square, Metro Red Line, Fig & 7th, Bottega Louie, Little Sister, Whole Foods, Ralphs, Jewelry District, Wilshire Grand, Target, Nordstrom Rack, Equinox Gym, Philz, Tom George, Fundamental, and more!

Eastern Columbia
849 S. Broadway #M04 - Historic Core

DETAILS: 1500sf, open style bed/living/kitchen flex space, 1 bathroom and 1 parking space. $950k or $633/sf. Building has a rooftop pool, deck, gym, 24/7 security. Mills Act tax savings. HOAs approx $1058/mo.

WITHIN 3 BLOCKS OF: Ace Hotel, Museum Building, Upcoming Apple Store, Mykita, ACNE, Whole Foods, APC, Little Monster, West Elm, Proper Hotel, IL Cafe, Cliftons, Freehand Hotel, Shake Shack, La Tropezienne, Terroni, Wood Spoon, Lala's, Orpheum, United Artists Theater, DTLA Ramen, Shibumi, Soul Cycle & more.

Elleven
1111 S. Grand #404 - South Park

DETAILS: 1030sf, open style bed/living/kitchen flex space, 1 bathroom and 1 parking space. $583k or $566/sf. Building has a pool, deck, BBQ, gym, 24/7 security. HOAs approx $734/mo.

WITHIN 5 BLOCKS OF: Whole Foods, Staples Center, LA Live, Hotel Figueroa, The Bloc, Restaurant Row, Fig & 7th, Fashion District, Broken Spanish, Expo Line, Ralphs, Starbucks, Prank, Barcito, Cow Cafe, CVS, and more.

Two Chic Historic Rentals on the Market

Eastern Columbia Lofts

1110sf - $3600/mo

Live in one of DTLA's most iconic Art Deco buildings, the Eastern Columbia. This chic southfacing 1110sf live/work loft is one of the few residences in the building with soaring 14-foot ceilings and oversized vintage windows that bring in tons of natural light. The open plan kitchen flows into the bright living area, and a nicely separated bedroom nook has added built-in storage. Concrete floors and exposed ceilings create a true loft living experience. Upgrades include a brand new refrigerator and dishwasher, and additional closets. Designer bath features a huge soaking tub. 1 covered parking space is included! Kelly Wearstler-designed building amenities include a rooftop pool, hot tub, sundeck, plus 24/7 front desk security, gym, drycleaning service, grand lobby lounge and dog run. Located in the Historic Core, you're within blocks from hotspots such as the Ace Hotel, Nomad, Fashion District, Whole Foods, Metro, as Acne, Theory, Mykita, West Elm, upcoming Apple Flagship store & more!

Rowan Lofts

600sf - $2050/mo

Chic character studio at the gorgeous NY-style Rowan Lofts in the heart of the Historic Core. Enjoy the most amazing easterly views from this 9th floor downtown pad that features exposed brick walls, oversized windows, and light hardwood floors. The 600sf unit features an airy open plan layout with tall ceilings that give it a bright and airy feel, and comes with Bosch stainless kitchen appliances, Scavolini kitchen cabinets, and spacious bathroom. There is ample closet space in the bedroom area and a Bosch washer/dryer in the unit. The historic building features amazing details such as restored Carrara marble hallways and amenities such as 24 hour front desk security, outdoor BBQ entertaining area, plunge pools, and an indoor lounge and event space. Within blocks to Whole Foods, Sunday Farmers Market, Grand Central Market, Metro, Pershing Square, Corporation Food Hall, Kazunori, Spring Arcade, Baco Mercat, Continental, Perch, Regent Theater, Blue Bottle and more!