Monday, August 22, 2005

Lofty Prices in Downtown Los Angeles

For the past few years there's been a huge increase in the number of residential units in downtown Los Angeles, part of the loft boom that has hit many downtown areas, including Chicago. Several home shoppers told me at the start of the summer that they tried to buy lofts downtown, but that their bids were slightly below list, so they were rejected. No one was living in the units, so they figured someone bought them as an investment, which might explain why they didn't want to budge on the price. But recent posts on craigslist hint that might be changing. At least one seller claims to have lowered his prices. $560000 - SKY HIGH CONDOMINIUM - PRICE REDUCTION ! ! ! ! looks like it's owned by the same person as $345000 - SKY VIEW CONDOMINIUM - PRICE REDUCTION! ! ! Strangly enough, both seem to have the exact same bathroom.