The Los Angeles Condo Loft » Los Angeles Lofts

Manhattan Beach Bliss

Steven John — Wed, 28 Sep 2011 17:38:45 +0000

You could do a lot worse than Manhattan Beach when looking for a place to call home. While it is not, shall we say, gentle on the wallet to live there, I’ve found a few deals for you that will soften the blow. And when you see the area, you’ll be more ready to take the proverbial punch. Manhattan Beach is a fully incorporated, independent city within the County of Los Angeles. And in fact it has been since 1910, making it a decently old city by west coast standards. The population is only around 35,000 and those folks are spread across just less than four square miles of land. The downtown of this scenic city has plenty of restaurants and shops, many of them unique boutiques (sorry, that rhyme was not planned and came across sounding canned. Damn! Twice!). There is also a shopping mall – the Manhattan Village Mall – with department stores, a Pottery Barn, a Williams & Sonoma… the standard fare. Manhattan Beach is quite close to Los Angeles International Airport, thus getting away from home and then back again is a snap. It is something of a commute, however, to get to downtown LA and beyond. But why leave home? Just look at that beach! And while we’re talking about homes… here you go, in order of ascending price: 729 MANHATTAN BEACH Boulevard 121 32ND STREET 230 ANDERSON Street If you want to check out any of these awesome Manhattan Beach properties just enter your information into the box on your right and a rock star LA real estate agent will get in touch with you right away! image credits: CityofManhattanBecah.org

Manhattan Beach is a fully incorporated, independent city within the County of Los Angeles. And in fact it has been since 1910, making it a decently old city by west coast standards. The population is only around 35,000 and those folks are spread across just less than four square miles of land.

The downtown of this scenic city has plenty of restaurants and shops, many of them unique boutiques (sorry, that rhyme was not planned and came across sounding canned. Damn! Twice!). There is also a shopping mall – the Manhattan Village Mall – with department stores, a Pottery Barn, a Williams & Sonoma… the standard fare. Manhattan Beach is quite close to Los Angeles International Airport, thus getting away from home and then back again is a snap. It is something of a commute, however, to get to downtown LA and beyond. But why leave home? Just look at that beach!

And while we’re talking about homes… here you go, in order of ascending price:

729 MANHATTAN BEACH Boulevard

121 32ND STREET

230 ANDERSON Street

If you want to check out any of these awesome Manhattan Beach properties just enter your information into the box on your right and a rock star LA real estate agent will get in touch with you right away!

image credits: CityofManhattanBecah.org

Downtown Los Angeles – The Arts District

Steven John — Thu, 22 Sep 2011 17:41:21 +0000

You probably already know that Downtown Los Angeles is rapidly becoming a pretty cool place to live. Even longtime Angelenos are often surprised at just how “urban” the actual city center can feel. One tends to picture the Hollywood Sign, Bel Air mansions, surfers, wide boulevards cutting among hip neighborhoods and past rolling mountains when someone says “Los Angeles.” But the actual downtown – the place where city hall, sky scrapers, court houses, etc. come together – feels like a “real city.” It’s flavored by a pinch of New York, a dash of San Francisco, dare I say a sprinkle of… what’s that… Denver? And, of course, its own unique characteristics. If you read my earlier article on the housing market in Downtown, you know that now is a decent time to buy a condo in the area. They are abundant and run the gamut of prices, from ultra-luxury homes to, shall we say, homes with lots of “character.” But what we still need to discuss is just why you might want to live downtown. I could talk about the beautiful, Frank Gehry designed Walt Disney Concert Hall or the stunning cathedral or all the dining and retail opening up around the city, but today we’re going to focus on something else. If you read the article’s title… um… yeah, you already know… The L.A. Art District’s nascent days were the later 1970s. Artists from surrounding areas – with a large number of them from western communities like Venice – began to flock to eastern downtown thanks to the wide availability of large loft spaces for cheap rents. In fact, the area was previously known as the “Warehouse District.” As so often happens, the decline on one thing, in this case business, led to the ascendance of another, here being art. (Think of the Meat Packing district in NYC.) Many of these first downtown artists lived an essentially squatter’s lifestyle, living illegally in the commercial spaces they used as studios. Eventually, in 1981, the zoning ordinances were altered to meet the new reality of downtown, and by the mid-80s there was a bustling (and legal) community of artists living and working in Downtown L.A. By the 2000s, the area was popular not only among artists but also among young, usually affluent young people who rapidly gentrified the area. In 2006, the community voted to usher in a Business Improvement District measure, which brought heightened security, cleaning and maintenance services and infrastructure improvement, essentially cementing the area as a place both hip and safe to call home. Today, among the studios and loft-style apartments and condos, many signs of the area’s roots are still in exisitence. A rail line still links up to a functioning rail yard and active warehouses, food and industrial processing plants still occupy city blocks. What’s newer is the abundance of shops, restaurants and cafes. Visitors (or residents) in search of the eponymous mainstay of the area – namely artists – would do well to start off with a stroll down “Gallery Row” off Main Street. Well over a score galleries are there for you to visit. And don’t forget about the nearby museums and theaters, from world-famous MOCA to the unique Museum of Neon Art. And for those looking for an LA art primer, why not try the Art Walk? On the second Thursday of every month, a street in downtown is transformed, for the afternoon, into one giant – and free – art show to be strolled through by the aficionados and the curious alike. If your thinking of buying a condo in the area simply enter your information in the box on your right and a rock star real estate agent will get in touch with you ASAP!

If you read my earlier article on the housing market in Downtown, you know that now is a decent time to buy a condo in the area. They are abundant and run the gamut of prices, from ultra-luxury homes to, shall we say, homes with lots of “character.” But what we still need to discuss is just why you might want to live downtown. I could talk about the beautiful, Frank Gehry designed Walt Disney Concert Hall or the stunning cathedral or all the dining and retail opening up around the city, but today we’re going to focus on something else. If you read the article’s title… um… yeah, you already know…

The L.A. Art District’s nascent days were the later 1970s. Artists from surrounding areas – with a large number of them from western communities like Venice – began to flock to eastern downtown thanks to the wide availability of large loft spaces for cheap rents. In fact, the area was previously known as the “Warehouse District.” As so often happens, the decline on one thing, in this case business, led to the ascendance of another, here being art. (Think of the Meat Packing district in NYC.) Many of these first downtown artists lived an essentially squatter’s lifestyle, living illegally in the commercial spaces they used as studios.

Eventually, in 1981, the zoning ordinances were altered to meet the new reality of downtown, and by the mid-80s there was a bustling (and legal) community of artists living and working in Downtown L.A. By the 2000s, the area was popular not only among artists but also among young, usually affluent young people who rapidly gentrified the area. In 2006, the community voted to usher in a Business Improvement District measure, which brought heightened security, cleaning and maintenance services and infrastructure improvement, essentially cementing the area as a place both hip and safe to call home.
Today, among the studios and loft-style apartments and condos, many signs of the area’s roots are still in exisitence. A rail line still links up to a functioning rail yard and active warehouses, food and industrial processing plants still occupy city blocks. What’s newer is the abundance of shops, restaurants and cafes. Visitors (or residents) in search of the eponymous mainstay of the area – namely artists – would do well to start off with a stroll down “Gallery Row” off Main Street. Well over a score galleries are there for you to visit. And don’t forget about the nearby museums and theaters, from world-famous MOCA to the unique Museum of Neon Art. And for those looking for an LA art primer, why not try the Art Walk? On the second Thursday of every month, a street in downtown is transformed, for the afternoon, into one giant – and free – art show to be strolled through by the aficionados and the curious alike.

If your thinking of buying a condo in the area simply enter your information in the box on your right and a rock star real estate agent will get in touch with you ASAP!

Go Uptown to Downtown

Lela Winston — Thu, 15 Sep 2011 05:20:59 +0000

Downtown Los Angeles has been a major focus for the city government for nearly a decade. Officials in this part of town have sought to introduce new life into an area once forsaken. The goal in this quickly gentrifying area has been to rid it of its massive homeless population and transform it into a desirable residential and commercial location. That work has been paying off. A recent study by The Downtown Center Business Improvement District concluded that the location is now a hotspot for the young and affluent. The news doesn’t come as a shock to those familiar with downtown and its intensive redevelopment projects. Downtown Los Angeles has been the recipient of countless millions in foreign and domestic dollars to restore and enhance the neighborhood. Condos, lofts and condominiums have become a major part of that redevelopment effort. The many old buildings in downtown Los Angeles have been remodeled and developed into luxury apartments, lofts and condominiums. There are also great areas within walking distance where condo dwellers can stop for a bite to eat, see a movie, attend a sporting event, or have a coffee at a sidewalk shop.

That work has been paying off. A recent study by The Downtown Center Business Improvement District concluded that the location is now a hotspot for the young and affluent. The news doesn’t come as a shock to those familiar with downtown and its intensive redevelopment projects. Downtown Los Angeles has been the recipient of countless millions in foreign and domestic dollars to restore and enhance the neighborhood.

Condos, lofts and condominiums have become a major part of that redevelopment effort. The many old buildings in downtown Los Angeles have been remodeled and developed into luxury apartments, lofts and condominiums. There are also great areas within walking distance where condo dwellers can stop for a bite to eat, see a movie, attend a sporting event, or have a coffee at a sidewalk shop.

Condos in Downtown LA — is this the time to buy?

Steven John — Mon, 15 Aug 2011 20:15:06 +0000

It comes as no surprise that Los Angeles was rocked just as soundly by the recent housing crisis and subsequent recession that shook America (and the world). The actual statistics, however, may still shock those looking to buy a new home. Especially in the rapidly burgeoning neighborhood of downtown LA. In one development, for example, condos that had been converted from warehouses into chic, upscale modern residences priced in the $500ks to the $900ks in 2006 are now selling for as little as $70k. I know because friends of mine almost took the plunge… into a loss of home value on a magnitude of ten times! Photo courtesy of www.Evo-South.com On the other hand, the sleek and luxuriant condos of Evo South (pictured above), are today priced between 1.2 and 4 million dollars. So the market… is healthy again? That depends on various factors, of course, but the most telling one is, as always, location. Evo South, for example, is a literal stone’s throw from the famous Staples Center and LA Convention Center, not to mention various corporate headquarters and, crucially in Los Angeles, freeways. But then take the condo residences of Santee Village, located in Downtown’s famous Fashion District. These residences offer fine amenities, floor plans and perks as well. And at, if not a fraction of the cost, per say, a far more affordable price tag still with a downtown address. It just depends on which address matters to you — and how you see Downtown changing in the coming years. Photo courtesy of SanteeVillagelLofts.com/brochure/ The Little Renaissance (a term I will try here to coin but not be offended when it never catches on) in Downtown Los Angeles has long been developing, with scores of new restaurants, clubs, bars and retailers opening up at a growing pace over the past decade or so. But it wasn’t until recently that it became truly tangible in a “The Cat’s Out of the Bag!” kind of way. Guess what: Downtown LA is now officially a cool place to live. Ergo, a cool place to own your own home. Said “Cat Out of Bag” factor, however, means that this area may soon be a cool place you can’t afford to buy! From Little Tokyo to the Financial District to the downtown museums to countless eateries and watering holes (most of which did not exist in decades past, or at least have radically changed), there is just so much to do. Some illustrative links for you: CitySearch, a safe place to start: http://losangeles.citysearch.com/ The “Top 10″ Things to do in Los Angeles: http://golosangeles.about.com/od/thingstodoindowntownl1/tp/Thing-to-Do-in-Downtown-Los-Angeles.htm A housing tour: http://www.downtownla.com/1_01_housingBusTour.asp So from the penthouse bastions of LA’s very-well-to-do to more artist-inspired, unique condos, there are styles and mortgages for a variety of buyers right now. Will this be New York’s Greenwich Village of the 90′s or Williamsburg of today? If you love having lots to do, it may be worth a roll of the dice.

Photo courtesy of www.Evo-South.com

On the other hand, the sleek and luxuriant condos of Evo South (pictured above), are today priced between 1.2 and 4 million dollars. So the market… is healthy again?

That depends on various factors, of course, but the most telling one is, as always, location. Evo South, for example, is a literal stone’s throw from the famous Staples Center and LA Convention Center, not to mention various corporate headquarters and, crucially in Los Angeles, freeways. But then take the condo residences of Santee Village, located in Downtown’s famous Fashion District. These residences offer fine amenities, floor plans and perks as well. And at, if not a fraction of the cost, per say, a far more affordable price tag still with a downtown address. It just depends on which address matters to you — and how you see Downtown changing in the coming years.

Photo courtesy of SanteeVillagelLofts.com/brochure/

The Little Renaissance (a term I will try here to coin but not be offended when it never catches on) in Downtown Los Angeles has long been developing, with scores of new restaurants, clubs, bars and retailers opening up at a growing pace over the past decade or so. But it wasn’t until recently that it became truly tangible in a “The Cat’s Out of the Bag!” kind of way. Guess what: Downtown LA is now officially a cool place to live. Ergo, a cool place to own your own home. Said “Cat Out of Bag” factor, however, means that this area may soon be a cool place you can’t afford to buy! From Little Tokyo to the Financial District to the downtown museums to countless eateries and watering holes (most of which did not exist in decades past, or at least have radically changed), there is just so much to do. Some illustrative links for you:

CitySearch, a safe place to start: http://losangeles.citysearch.com/

The “Top 10″ Things to do in Los Angeles: http://golosangeles.about.com/od/thingstodoindowntownl1/tp/Thing-to-Do-in-Downtown-Los-Angeles.htm

A housing tour: http://www.downtownla.com/1_01_housingBusTour.asp

So from the penthouse bastions of LA’s very-well-to-do to more artist-inspired, unique condos, there are styles and mortgages for a variety of buyers right now. Will this be New York’s Greenwich Village of the 90′s or Williamsburg of today? If you love having lots to do, it may be worth a roll of the dice.

Star Living at the ‘Franklin Towers’

Robert Campagna — Wed, 10 Aug 2011 19:25:40 +0000

If you’re looking in Hollywood, this is a must see! The luxury, contemporary high-rise built in 1964 offers the feel of new construction, with a landmark location that only old construction could possibly allow. The ‘Franklin Towers’ are a staple of posh, urban-living in the heart of downtown Hollywood. If you don’t believe it, just tune into ‘Entourage’, where ‘Johnny Drama’ bought a condo in the Towers during season 5! Rub elbows with stars, directors and A-List writers in this creative living mecca that is a stones throw away to ‘The Walk of Stars,’ Grauman’s Chinese Theatre and the legendary dog/hiking mecca, Runyon Canyon. This building is so jam-packed with amenities, it’s like living in a 740 Li BMW! Whether you purchase the penthouse or the 1 bedroom, 1 bath, you can enjoy all the wonders this building has to offer: –Spa, Gym/Exercise Room –Heated Pool –24 hour Concierge and Valet with the utmost security –Sun Deck –Pre wired for high speed internet/data –Central A/C and heat –Hotel Quality Lobby –Plenty of built-ins The building currently has many pricing options, ranging from the 200′s up to 7 figures for the ultra luxurious penthouse suite. With dozens of Hollywood staples nearby, you get the pedestrian, urban feel without ever having to step into your car. The Academy Awards take place right down the street at the famous Kodak Theatre. Walk to the world class Hollywood and Highland outdoor mall, or stroll across the street to the Roosevelt Hotel, where ’25 Degrees’ serves up the best burgers in LA. For dessert, head upstairs to the ultra exclusive Teddy’s Nightclub — just make sure you’re on the list! With the recent facelift that Hollywood is currently undergoing, don’t miss an opportunity to get into this spectacular building while you still can. And with multiple floor plans and options, you’re guaranteed to find the right condo for your needs at the ‘Franklin Towers.’ For more information on availability at 7250 Franklin Ave, Los Angeles, CA 90046, or to schedule a viewing, call 877-852-6636 today! [gallery order="DESC"]

The ‘Franklin Towers’ are a staple of posh, urban-living in the heart of downtown Hollywood. If you don’t believe it, just tune into ‘Entourage’, where ‘Johnny Drama’ bought a condo in the Towers during season 5! Rub elbows with stars, directors and A-List writers in this creative living mecca that is a stones throw away to ‘The Walk of Stars,’ Grauman’s Chinese Theatre and the legendary dog/hiking mecca, Runyon Canyon.

This building is so jam-packed with amenities, it’s like living in a 740 Li BMW! Whether you purchase the penthouse or the 1 bedroom, 1 bath, you can enjoy all the wonders this building has to offer:
–Spa, Gym/Exercise Room
–Heated Pool
–24 hour Concierge and Valet with the utmost security
–Sun Deck
–Pre wired for high speed internet/data
–Central A/C and heat
–Hotel Quality Lobby
–Plenty of built-ins

The building currently has many pricing options, ranging from the 200′s up to 7 figures for the ultra luxurious penthouse suite. With dozens of Hollywood staples nearby, you get the pedestrian, urban feel without ever having to step into your car. The Academy Awards take place right down the street at the famous Kodak Theatre. Walk to the world class Hollywood and Highland outdoor mall, or stroll across the street to the Roosevelt Hotel, where ’25 Degrees’ serves up the best burgers in LA.

For dessert, head upstairs to the ultra exclusive Teddy’s Nightclub — just make sure you’re on the list! With the recent facelift that Hollywood is currently undergoing, don’t miss an opportunity to get into this spectacular building while you still can. And with multiple floor plans and options, you’re guaranteed to find the right condo for your needs at the ‘Franklin Towers.’ For more information on availability at 7250 Franklin Ave, Los Angeles, CA 90046, or to schedule a viewing, call 877-852-6636 today!

Burbank Condos offer Security and Affordability

Robert Campagna — Fri, 05 Aug 2011 03:42:08 +0000

Situated right outside downtown Burbank, this recently upgraded complex is still close to plenty of restaurants and 5 Freeway– not to mention the nightlife! Nestled in a gated community off San Fernando Boulevard, this unit offers all the amenities you could want in an affordable condo: a gym, a pool and (it wouldn’t be LA without…) a 2004 facelift! Revamped kitchen with granite countertops, cherry wood cabinets and new copper plumbing (never take good plumbing for granted), this 2 bedroom, 1 bath home features the privacy of a gated complex, providing the utmost security. At 860 square feet and a huge balcony, it offers plenty of space to entertain. This short sale approved condo is listed at $274,000, with an estimated monthly payment of $1,616 — with as little as 5% down! Burbank is truly a unique spot in Los Angeles. Offering close proximity to countless studios including: Warner Brothers, Disney, NBC and many others. This could be the perfect home for for the young entertainment professional that wants to avoid the Hollywood traffic on the 101. With a growing downtown, Burbank is an up and coming area in the valley. The perfect place for: a nice dinner, a laid back nightlounge, and enough theatres screens to see any new release that is playing. Burbank offers an urban scene without the urban congestion. Shopping-wise, everything you need is right down the road at the constantly improving Burbank Empire Shopping Center! Target, Outback Steakhouse, Nordstrom Rack… you name it– they’ve got it! And for a day in the park, you can’t go wrong with McCambridge Park Recreational Center. But the best feature of it all for any Angeleno who travels, is the close proximity to the Burbank International (aka Bob Hope) Airport. Imagine being able to fly in and out of the ‘city of angels’ without having to take on the monster that is LAX! For more information on availability at 1620 North San Fernando Blvd, 91504, Burbank, CA or to schedule a viewing, call 877-852-6636 today! [gallery]

Situated right outside downtown Burbank, this recently upgraded complex is still close to plenty of restaurants and 5 Freeway– not to mention the nightlife!

Nestled in a gated community off San Fernando Boulevard, this unit offers all the amenities you could want in an affordable condo: a gym, a pool and (it wouldn’t be LA without…) a 2004 facelift!

Revamped kitchen with granite countertops, cherry wood cabinets and new copper plumbing (never take good plumbing for granted), this 2 bedroom, 1 bath home features the privacy of a gated complex, providing the utmost security. At 860 square feet and a huge balcony, it offers plenty of space to entertain.

This short sale approved condo is listed at $274,000, with an estimated monthly payment of $1,616 — with as little as 5% down!

Burbank is truly a unique spot in Los Angeles. Offering close proximity to countless studios including: Warner Brothers, Disney, NBC and many others. This could be the perfect home for for the young entertainment professional that wants to avoid the Hollywood traffic on the 101.

With a growing downtown, Burbank is an up and coming area in the valley. The perfect place for: a nice dinner, a laid back nightlounge, and enough theatres screens to see any new release that is playing. Burbank offers an urban scene without the urban congestion.

Shopping-wise, everything you need is right down the road at the constantly improving Burbank Empire Shopping Center! Target, Outback Steakhouse, Nordstrom Rack… you name it– they’ve got it!

And for a day in the park, you can’t go wrong with McCambridge Park Recreational Center. But the best feature of it all for any Angeleno who travels, is the close proximity to the Burbank International (aka Bob Hope) Airport. Imagine being able to fly in and out of the ‘city of angels’ without having to take on the monster that is LAX!

For more information on availability at 1620 North San Fernando Blvd, 91504, Burbank, CA or to schedule a viewing, call 877-852-6636 today!

5 City Real Estate Opportunities No Investor Should Ignore

Maeyen Bassey — Sat, 30 Jul 2011 15:44:25 +0000

Real Estate markets in cities across the United States have had a rocky few years. The combination of downtown overbuilding and the economic recession was a one-two punch that drove property values down and increased uncertainty in the major cities. As we head into the dog days of summer, there are strong signs that many cities have started to emerge from their dog markets and present a viable, and in many cases a very strong, investment opportunity. There are industry-wide influences, of course. Prices are at very reasonable levels in most cities and interest rates are at or near historic lows. If rates increase, the same property will cost you quite a bit more. A good rule of thumb is for each 1% increase, there is a 10-15% loss in purchasing power for the buyer. It’s likely that over the next few years, rates will rise 2-3% back to historical norms and buying power will drop rapidly. For many investors, this means that the time to buy is now when prices and rates are low and buyers have power. Rising rents in many cities have outpaced ownership expense, making a purchase more cost efficient than renting and also increasing the likelihood of strong rental income and a cash flow positive opportunity. Additionally, strong foreign investment in several top US cities, buoyed by stronger foreign currency, the continued security of American investment, and the cache of a US address, provide built-in demand for city properties. We at CondoDomain.com are big believers in city real estate in general, but I highlight 5 cities where I believe the current opportunity is especially strong. My opinions are based on a combination of data, our agent experiences and client sentiment. This is not a scientific study but hopefully sparks some thought and adds some value. If you have any questions in general or about specific cities or opportunities, please comment or reach out to me. Without further adieu, here is the list: 5 – Los Angeles, CA There are strong signs that the real estate market in LA has hit bottom and is starting to rebound. Downtown LA was hit hard with a huge amount of overbuilding and some of the worst economic and housing downturns in the country when the credit crisis hit. Jobs and the economy have begun to come back and the oversupply of condo homes downtown makes it a buyers market. While downtown housing is still partially depressed, the neighborhood has become a vibrant and hip social scene in Los Angeles. Housing will catch up. Additionally, the new Expo line for the Metro Light Rail will make commuting for work and fun much easier. Phase 1 (from downtown to Culver City) will be open within a couple of months and Phase 2 (from Century City to Santa Monica) will be finished in a couple of years. This is the first time anything like this has connected to the west side, a huge development for LA’s car-attached culture. The train will run above ground and the route will be landscaped with bike paths and greenery. The city already has forward-looking loft/condo projects cropping up in anticipation. With downright low prices available and good prospects for the future, Los Angeles is my first investment market to watch. 4 – San Francisco, CA A second California city takes our number 4 spot. San Francisco has remained fairly strong even through the downturn and is bouncing back well too. Starting off there simply isn’t any more room to develop on the peninsula, and there is always going to be a strong demand for premium housing in downtown SF. This point is driven home by the fact that the city’s effective rents rose 1.2% (according to the Wall Street Journal 7/7/11), a figure near tops in the country. Mercer Management Consulting ranks the city as having the highest quality of life in the continental U.S., and the region is the gateway to the Pacific Rim. This means foreign nationals will be players in addition to domestic buyers. Continuing, there continues to be huge venture capital money invested in the area (more than $6.3 billion just during the recession). Job growth is on the rise, lead by high tech and life sciences professions. Overall unemployment has improved a full percentage point in the last year AND job growth in the high income/skill sectors is among the best in the nation. Remember that we are talking about the city of San Francisco only in this recommendation, and not the whole Bay Area. Strong business investment, high-end job growth, international players and high demand/low supply mean an opportunity worth taking a hard look at in my book. 3 – New York, NY The New York City Real Estate market is unique – almost a living and breathing organism like the city itself. Prices are high, demand is strong, and supply is limited… at least that’s been the story for some time now. Even in the early recession, the city’s housing market stayed relatively strong, but pressure built and finally forced a moderate price decrease in some areas. The city is expensive overall, but there are pockets of opportunity. The premium neighborhoods like Central Park West, the West Village and SoHo remain pricey and sought after, but even within those there are some streets and buildings where the investment opportunity is strong. Then there are neighborhoods like the Financial District where tax abatements and other subsidies make for strong opportunity across the area. Rents in NYC are increasing fast as inventory becomes more and more scarce. Combined with the buying opportunities that can be found, this should lead to some strong cash flow situations for investors. Landlords in the city no longer pay any broker fees in almost all cases, a sign that renting property at the high market prices is relatively easy these days… and it’s a money saver for investors. Finally, strong foreign investment from all over the world continues across New York City. So my summary on NYC: pockets of great opportunity combined with what should be high demand going forward and great cash flow opportunities. 2 – Miami, FL Miami is more than just a vacation spot. It is the gateway to the United States for all of Central and South America and it has become a major financial hub in our country and for the world. Foreign buyers are a force in the city and promise to continue to be so. The soft dollar increases their buying power and the Miami address brings big-time cache, convenience and business opportunity. The massive overbuilding in the late 2000s hammered condo prices in South Beach and especially Downtown Miami. While prices have hit bottom and are now starting back on the rise, there are still lots of very strong opportunities. The city has invested significantly in the Downtown / Brickell area and the neighborhood is looking good with outstanding public spaces and resident resources. Restaurants, bars and shopping have all recently flocked to the area. It doesn’t hurt investor prospects that Florida has no personal income tax and a low (5%) corporate income tax. So – low prices, great amenities, favorable taxes and a massive foreign demand? Yes, that’s good enough for number 2 on my cities to watch list. 1 – Washington, DC The pulse of Washington, DC is politics, as we all know, and this same government sector also powers the local Real Estate market. With the Federal government in town and all the lobbying and legal work associated with the public sector, the District of Columbia has one of the lowest unemployment rates in the country. In addition, the city has a highly mobile population that turns over frequently. DC has one of the highest migration rates from other states, and there is a strong foreign component too. There is always a high demand from buyers and renters alike. Unlike the other cities on this list, property values in most of DC have been on the rise for a couple years now, without becoming excessive. It is cheaper to buy in DC than to rent and it’s a city with one of the largest rent-buy discrepancies in the country. Inventory is scarce in Washington, DC. The economy is strong and stable and demand promises to be consistent. Our experience is that listings are selling fast and for at-or-near list price, and the aggregate data backs us up on this. I expect all these positive trends to continue and grade DC as my top investment city to watch. Hoyt David Morgan is the President of CondoDomain.com, a web-based real estate broker that is hyper-focused on city markets and fanatical about its premium service. Hoyt can be reached at hoyt@condodomain.com.

There are industry-wide influences, of course. Prices are at very reasonable levels in most cities and interest rates are at or near historic lows. If rates increase, the same property will cost you quite a bit more. A good rule of thumb is for each 1% increase, there is a 10-15% loss in purchasing power for the buyer. It’s likely that over the next few years, rates will rise 2-3% back to historical norms and buying power will drop rapidly. For many investors, this means that the time to buy is now when prices and rates are low and buyers have power.

Rising rents in many cities have outpaced ownership expense, making a purchase more cost efficient than renting and also increasing the likelihood of strong rental income and a cash flow positive opportunity. Additionally, strong foreign investment in several top US cities, buoyed by stronger foreign currency, the continued security of American investment, and the cache of a US address, provide built-in demand for city properties.

We at CondoDomain.com are big believers in city real estate in general, but I highlight 5 cities where I believe the current opportunity is especially strong. My opinions are based on a combination of data, our agent experiences and client sentiment. This is not a scientific study but hopefully sparks some thought and adds some value. If you have any questions in general or about specific cities or opportunities, please comment or reach out to me. Without further adieu, here is the list:

5 – Los Angeles, CA

There are strong signs that the real estate market in LA has hit bottom and is starting to rebound. Downtown LA was hit hard with a huge amount of overbuilding and some of the worst economic and housing downturns in the country when the credit crisis hit. Jobs and the economy have begun to come back and the oversupply of condo homes downtown makes it a buyers market.

While downtown housing is still partially depressed, the neighborhood has become a vibrant and hip social scene in Los Angeles. Housing will catch up. Additionally, the new Expo line for the Metro Light Rail will make commuting for work and fun much easier. Phase 1 (from downtown to Culver City) will be open within a couple of months and Phase 2 (from Century City to Santa Monica) will be finished in a couple of years. This is the first time anything like this has connected to the west side, a huge development for LA’s car-attached culture. The train will run above ground and the route will be landscaped with bike paths and greenery. The city already has forward-looking loft/condo projects cropping up in anticipation.

With downright low prices available and good prospects for the future, Los Angeles is my first investment market to watch.

4 – San Francisco, CA

A second California city takes our number 4 spot. San Francisco has remained fairly strong even through the downturn and is bouncing back well too. Starting off there simply isn’t any more room to develop on the peninsula, and there is always going to be a strong demand for premium housing in downtown SF. This point is driven home by the fact that the city’s effective rents rose 1.2% (according to the Wall Street Journal 7/7/11), a figure near tops in the country. Mercer Management Consulting ranks the city as having the highest quality of life in the continental U.S., and the region is the gateway to the Pacific Rim. This means foreign nationals will be players in addition to domestic buyers.

Continuing, there continues to be huge venture capital money invested in the area (more than $6.3 billion just during the recession). Job growth is on the rise, lead by high tech and life sciences professions. Overall unemployment has improved a full percentage point in the last year AND job growth in the high income/skill sectors is among the best in the nation.

Remember that we are talking about the city of San Francisco only in this recommendation, and not the whole Bay Area. Strong business investment, high-end job growth, international players and high demand/low supply mean an opportunity worth taking a hard look at in my book.

3 – New York, NY

The New York City Real Estate market is unique – almost a living and breathing organism like the city itself. Prices are high, demand is strong, and supply is limited… at least that’s been the story for some time now. Even in the early recession, the city’s housing market stayed relatively strong, but pressure built and finally forced a moderate price decrease in some areas. The city is expensive overall, but there are pockets of opportunity. The premium neighborhoods like Central Park West, the West Village and SoHo remain pricey and sought after, but even within those there are some streets and buildings where the investment opportunity is strong. Then there are neighborhoods like the Financial District where tax abatements and other subsidies make for strong opportunity across the area.

Rents in NYC are increasing fast as inventory becomes more and more scarce. Combined with the buying opportunities that can be found, this should lead to some strong cash flow situations for investors. Landlords in the city no longer pay any broker fees in almost all cases, a sign that renting property at the high market prices is relatively easy these days… and it’s a money saver for investors. Finally, strong foreign investment from all over the world continues across New York City.

So my summary on NYC: pockets of great opportunity combined with what should be high demand going forward and great cash flow opportunities.

2 – Miami, FL

Miami is more than just a vacation spot. It is the gateway to the United States for all of Central and South America and it has become a major financial hub in our country and for the world. Foreign buyers are a force in the city and promise to continue to be so. The soft dollar increases their buying power and the Miami address brings big-time cache, convenience and business opportunity.

The massive overbuilding in the late 2000s hammered condo prices in South Beach and especially Downtown Miami. While prices have hit bottom and are now starting back on the rise, there are still lots of very strong opportunities. The city has invested significantly in the Downtown / Brickell area and the neighborhood is looking good with outstanding public spaces and resident resources. Restaurants, bars and shopping have all recently flocked to the area.

It doesn’t hurt investor prospects that Florida has no personal income tax and a low (5%) corporate income tax. So – low prices, great amenities, favorable taxes and a massive foreign demand? Yes, that’s good enough for number 2 on my cities to watch list.

1 – Washington, DC

The pulse of Washington, DC is politics, as we all know, and this same government sector also powers the local Real Estate market. With the Federal government in town and all the lobbying and legal work associated with the public sector, the District of Columbia has one of the lowest unemployment rates in the country. In addition, the city has a highly mobile population that turns over frequently. DC has one of the highest migration rates from other states, and there is a strong foreign component too. There is always a high demand from buyers and renters alike.

Unlike the other cities on this list, property values in most of DC have been on the rise for a couple years now, without becoming excessive. It is cheaper to buy in DC than to rent and it’s a city with one of the largest rent-buy discrepancies in the country.

Inventory is scarce in Washington, DC. The economy is strong and stable and demand promises to be consistent. Our experience is that listings are selling fast and for at-or-near list price, and the aggregate data backs us up on this. I expect all these positive trends to continue and grade DC as my top investment city to watch.

Hoyt David Morgan is the President of CondoDomain.com, a web-based real estate broker that is hyper-focused on city markets and fanatical about its premium service. Hoyt can be reached at hoyt@condodomain.com.

Echo Park’s Architectural Masterpiece

Robert Campagna — Fri, 22 Jul 2011 23:49:52 +0000

Designed by renown architect, Allyn E Morris in the 1970′s, this Echo Park condo offers an amazing location with close proximity to Hollywood and Downtown LA. Priced at $365,000, this 798-square foot condo comes with 2 bedrooms, 1 bath, and 2 walkout balconies that open to each bedroom! Enjoy the in-ground, tear drop pool and controlled security access with on-site management for added safety. Bask in the view, as the condo is nestled overlooking the scenic Echo Park Lake. Entertain during the annual Lotus festival and summertime Dodger games all within a very short commute. This ground floor unit is the first that has come available in quite a long time due to its exclusivity! Enjoy its well kept vintage feature of cobalt blue tiles in the kitchen and bathroom. Perfect for the outdoors buff with tree lined grounds and a well kept garden. Enjoy the rich tradition and hilly living that Echo Park has to offer. Northwest of downtown and Southeast of Hollywood, you are right smack in the middle of it all! Named one of the “Top 10 Neighborhoods” in 2008 by the American Planning Association (APA), this property is a smart investment for the future. Enjoy the LA unified school district with multiple public and private schooling nearby. Echo Park is truly a hot spot these day in Los Angeles — especially on the Eastside. The gentrification is evident, but it does so without losing the ethnic flair that makes is different than the Westside. Walk to a taco stand that serves authentic chorizo and pay $2 or step across the street to Malo Bakery where you’ll find a gourmet bakery who’s price tag is as high as their quality. For more information on 1701 Clinton St #210, Los Angeles, CA 90026 or to schedule a viewing, call 877-852-6636 today! [gallery order="DESC"] Listing courtesy of Peter Reyes, Sotheby’s Int’l Rlty-Los Feliz

Bask in the view, as the condo is nestled overlooking the scenic Echo Park Lake. Entertain during the annual Lotus festival and summertime Dodger games all within a very short commute. This ground floor unit is the first that has come available in quite a long time due to its exclusivity! Enjoy its well kept vintage feature of cobalt blue tiles in the kitchen and bathroom. Perfect for the outdoors buff with tree lined grounds and a well kept garden.

Enjoy the rich tradition and hilly living that Echo Park has to offer. Northwest of downtown and Southeast of Hollywood, you are right smack in the middle of it all! Named one of the “Top 10 Neighborhoods” in 2008 by the American Planning Association (APA), this property is a smart investment for the future. Enjoy the LA unified school district with multiple public and private schooling nearby.

Echo Park is truly a hot spot these day in Los Angeles — especially on the Eastside. The gentrification is evident, but it does so without losing the ethnic flair that makes is different than the Westside. Walk to a taco stand that serves authentic chorizo and pay $2 or step across the street to Malo Bakery where you’ll find a gourmet bakery who’s price tag is as high as their quality.

For more information on 1701 Clinton St #210, Los Angeles, CA 90026 or to schedule a viewing, call 877-852-6636 today!

Listing courtesy of Peter Reyes, Sotheby’s Int’l Rlty-Los Feliz

LA Condo Website & Blogs

Anthony Longo — Thu, 17 Jun 2010 14:31:04 +0000

Hello from New York City. I just wanted to send out a short message this morning and give you a quick update on our website and blogs. First off our blogs have been fully restored and we are up and running at 100%. So blog followers, readers and admirers – comment away! Secondly the framework of our core website (CondoDomain.com) has been restored and successful moved to a brand new server environment. In hopes to eliminate all of the bugs, errors and downtime we were experiencing, the new site is lightning fast giving you all a much better consumer experience. Search 10X faster today! Left to be done over the next week. 1. Reinstall our core MLS search functionality on Boston, Chicago, DC, Baltimore & NYC 2. Prepare MLS installations on the remaining 15 new markets. 3. Install our new “Condo Forum” and more features we have to surprise you! On behalf of CondoDomain I would like to apologize for anyone who has experienced technical issues or website performance over the past few weeks. I can assure you the problems are behind us now and we look forward to providing an even better experience, starting today! Any questions – as always – contact your City Vice President and of course feel free to drop me a line as well! Sincerely, Tony Longo CondoDomain/CEO ajl [at] CondoDomain.com

Hello from New York City. I just wanted to send out a short message this morning and give you a quick update on our website and blogs. First off our blogs have been fully restored and we are up and running at 100%. So blog followers, readers and admirers – comment away!

Secondly the framework of our core website (CondoDomain.com) has been restored and successful moved to a brand new server environment. In hopes to eliminate all of the bugs, errors and downtime we were experiencing, the new site is lightning fast giving you all a much better consumer experience. Search 10X faster today!

Left to be done over the next week.

1. Reinstall our core MLS search functionality on Boston, Chicago, DC, Baltimore & NYC

2. Prepare MLS installations on the remaining 15 new markets.

3. Install our new “Condo Forum” and more features we have to surprise you!

On behalf of CondoDomain I would like to apologize for anyone who has experienced technical issues or website performance over the past few weeks. I can assure you the problems are behind us now and we look forward to providing an even better experience, starting today!

Any questions – as always – contact your City Vice President and of course feel free to drop me a line as well!

Sincerely,

Tony Longo
CondoDomain/CEO
ajl [at] CondoDomain.com

Venice Art Walk and Auctions

Anthony Longo — Wed, 13 May 2009 04:45:05 +0000

Venice Beach will be the scene this Saturday for an incredible art auction. The 30th Annual Venice Art Walk and Auctions will occur at Dogtown Station, Venice’s innovative California loft. Greenfield Sacks Gallery will present an exhibition of Venice Beach artists. The VIP cocktail event will be from 4:30 to 8:00. Dogtown Station is a 35 loft development, which is designed to accomodate the work/live lifestyle. When you are at the art auction, you’ll get to see this innovative California Loft building. Call me about a guided tour, and for more information. Find out why CondoDomain is different from other real estate brokers.

Dogtown Station is a 35 loft development, which is designed to accomodate the work/live lifestyle. When you are at the art auction, you’ll get to see this innovative California Loft building. Call me about a guided tour, and for more information.

Find out why CondoDomain is different from other real estate brokers.