A Good Time to Buy?

Is this a good time to buy? With lowest ever interest rates and a negotiable environment, it most definitely is. Buyers are dreaming of a 2008-2011 scenario when people owed way more on their property than it was worth and had to sell or lose everything. It's just the opposite situation right now. Homeowners are sitting on equity, so they don't need to sell, and that's why there's such a low inventory of homes right now. Low inventory plus high demand means that prices are staying stable. 

However, there are deals to be had. Look into properties that have been sitting on the market. Or properties that might need some remodeling. This is where you'll get a deal, and some built-in equity. 

Some of the best properties right now in terms of a great buy for the price:

Higgins #207 - $699k

This loft is 1250sf. The layout, however is so great that it feels like it's more like 1500sf. Plus, it has a nearly 150sf private outdoor patio that is in addition to the indoor 1250sf space. Future value for the outdoor space--there are only a few condos in the whole of DTLA with this type of outdoor space. To top it off, the building has the Mills Act status, so you save up to 70% off your property taxes each year. (Coldwell Banker DTLA)  https://reinventingdtla.com/108-w-2nd-%23207

El Dorado Loft #807 - $510k

This loft is 740sf. The loft is super bright, high up in the building, and has a balcony with views of a park. Again, think future value. Great location within blocks to everything. To top it off, the building has the Mills Act status, so you save up to 70% off your property taxes each year. See MLS photos here (KW Larchmont):  https://www.themls.com/mlslistingphoto/listing/slideshow/#/20-605828

Textile Loft #404 - $468k

This loft is 640sf. Corner loft, people. The loft is super bright, comes with a parking and in-building storage space. In the up and coming Fashion District. To top it off, the building has the Mills Act status, so you save up to 70% off your property taxes each year. With interest rates so low, the mortgage on this one will be lower than the rent. See MLS photos here (Coldwell Banker DTLA): https://www.themls.com/mlslistingphoto/listing/slideshow/#/20-585120