- We provide VIP access to the top condo developments in Los Angeles
- Xondo is the premier source for new construction Los Angeles condos. We have put together some of the most awesome developments to come to Los Angeles and you can be a part of it. We have partnered up with some of the top developers and put together the best condos around town. All you have to do is fill out our simple application and in no time we have you setup with a VIP pass to all the hot projects in town. This will give you first dibs on the best units so that you can secure the most valuable units in town. Xondo is the ultimate partnership for developers and investors in Los Angeles.Los Angeles is an amazing place to be and its becoming one of the hottest properties in California. It's fast becoming a tech hub with big business flocking to LA to set up their new offices. There are also many great schools for your kids if you're looking to set up shop in LA. This trend is only going to continue when the new LA football stadium opens its doors this year. When you're looking for somewhere to live, you need to make sure that you're looking at the best developments in town. We have put together one of the most awesome developments coming soon to the city and you can be there before anybody else can. All you have to do is get an access key and we'll take it from there.
- Get into new construction condos and homes for less with Xondo
- Let's face it. The real estate market is an amazing thing. You work your entire life to get to your ideal situation because the house you live in holds a lot of value. In US, millennials have a tough time settling down and buying a house due to their high debt loads, coupled with their monstrous student loans. Young investors are also challenged by the unrelenting market.
- The Cheapest Homes & Condos in Los Angeles FOR SALE
- With so many new condos in Downtown LA and so many condominiums in Los Angeles that are planned to be developed, it can be tough to try and keep track of all of them.
However, that's where Xondo.ca steps in. You can use Xondo to get connected with the developers so that you can get an early VIP access to the hottest new projects in Los Angeles and across the USA. The sales teams from these developers can get you into buying your dream condo before anybody else can.
We have noticed a lot of disputes with our customers and other agencies. We believe that honesty and transparency is the most important thing when working with a company. Therefore, you will always know the exact cost, or inicial price for the property before applying for a move-in date. We will never use any tricks to damage your finances. Transparency should always be our way of business.
Xondo.ca is a one-stop-shop for condo deals in Canada and anywhere in the world. Our goal is to provide the best prices and condos possible to our customers.
- Buy Condo Units in LA Before Construction Begins!
- Do you want to experience the luxury with a discounted price? The best place to look for the best pre-construction condo projects is Xondo. Enhance your lifestyle at one of the most desirable places. Whether you are looking for a penthouses or hotel-like living, Xondo has it all. Enhance your living experience by entering your email address on the homepage of Xondo and contacting the real estate professionals. There are several projects from which to choose from across the United States and we invite you to browse through our website to check out which one may be best for you.
There are several reasons why you should buy a pre-construction condo unit through Xondo. 1.) Lowest Prices, Highest Return: Most developers give housewarming gifts and free upgrades. Some of the best pre-construction condo projects in Los Angeles, California start at a low as $1000/sq ft. 2.) Create Wealth: Increase your wealth by investing in high-quality properties before they are built and selling them off once construction has been completed. 3.) Quality Construction: Pre-construction condominiums within Xondo's community, gives you the opportunity to choose your design, flooring, cabinets and amenities. All of our projects are approved and available directly from the developers after an extensive selection process has been carried out. 4.) Space and Privacy: All of Xondo's projects are within gated communities in some of the loveliest locations where you can enjoy privacy amongst spacious landscaped gardens. You also get to enjoy home ownership without the financial distress or risks associated with other real estate investments 5.) Minimum Risks: If a project does not go ahead for whatever reason, you will get your money back immediately. If you decide that any new project is not for you then you have three months from deposit date in which to cancel with no penalty at all. 6.) Offered Below Market: Pre-Construction condominiums within Xondo's community, offers some of the best deals below market value and only available directly from developers.
One thing to keep in mind is that these are brand new projects from which you can choose from different types of units like one bedroom units, two bedroom units, penthouse units or loft units. Our inventory includes Deluxe One Bedroom Units with Balconies, Deluxe Two Bedroom Units with Terraces, Penthouse Suites with Private Balconies, Three Bedroom Loft Suites with Private Elevators, Four Bedroom Penthouse Suites with Private Elevators and Private Rooftop Terrace. Each of these wonderful pre-construction condos provides gourmet kitchens, sparkling bathrooms with spa-style showers & Jacuzzi tubs, spacious walk-in closets & ceiling fans throughout all units.
We invite you now to browse through our website and discover the amazing pre-construction condo projects located in Los Angeles, California available exclusively through Xondo . Feel free to contact us if you have any questions about our pre-construction condo inventory or about any of the condo communities within our network. We cannot wait to share our beautiful properties with likeminded investors across the United States!
- How to find Your New Los Angeles Home or Condo
- Why should I buy a house today instead of renting?
Because buying a property gives you many benefits including equity growth, tax deductions, flexibility and control over when improvements occur like renovations; plus it makes sense financially. And because homeownership rates are falling across America, having a place to call “home" could mean greater independence as well as increased security and financial stability throughout retirement age.
If you currently rent this will be a significant purchase. Renting is no longer an affordable choice as real estate prices continue rising. However, the fact that rental rates are rising indicates demand for properties. So if you're able to live in a smaller space than what you paid while waiting to move into your own home, then consider renting until housing costs drop further. At some point these higher mortgage payments will balance the price of living elsewhere versus staying put. As always consult your local Realtor® and lender for guidance.
What type of location should I seek?
Locating a suitable home takes consideration of multiple factors which includes location, affordability, size, design & layout, neighborhood, schools, commute times, amenities/services offered, overall quality and upkeep, and current market trends and conditions. All of these factors play a role in determining whether a particular area offers the best fit for you personally. Some factors come into play sooner than others, but ultimately finding an ideal match requires careful research, consultation and communication with professionals who specialize in real estate.
Should I search locally first?
When searching to buy a house, most people begin online looking at homes near them, however, this isn't necessarily the best way to proceed. Online searches aren't designed for evaluating neighborhoods nor helping buyers select areas that offer the greatest value based upon the criteria they've listed above. For example: A seller listing an 875 square foot 2 bedroom, 1 bath single family home priced below $500k in a desirable upscale community would find local searches showing thousands of similar listings offering substantially less value. Conversely, sellers selling a 3 bed, 4 bathroom luxury apartment building in the same zipcode would only see hundreds of other houses with comparable appeal. Because of the sheer volume, properties on Zillow tend to undervalue many small communities making them more attractive than large metros like San Francisco or Los Angeles. Zillow does show median sales prices, allowing individuals to narrow down values quickly, though most people prefer to use MLS reports to filter properties by specific attributes. An experienced agent will help buyers sort through both types of information, providing valuable insight to help identify the highest performing markets. Local agents often work alongside buyers' lenders to provide customized recommendations regarding specific townships and counties. They understand the unique dynamics of each community, giving buyers a better understanding of what locations truly represent great value and why.
Where am I going to spend my weekends?
Homebuyers usually envision spending evenings away from their families enjoying leisure pursuits in their spare time while working during weekday commutes. Of course, the reality varies significantly depending on lifestyle preferences and employment status. Most Americans work fulltime jobs Monday thru Friday with weekends typically being spent commuting, getting groceries, running errands/shopping, attending social functions or taking care of family responsibilities. People without kids generally enjoy the...
- What makes Xondo California's Most Convenient New Condo/Home Buying Platform?
- New homes and condos continue to be some of the most convenient forms of living today. There are many benefits to buying a newly built property including lower upfront costs than older properties. However, this convenience does come at a price. There are certain things which should be considered prior to making your purchase decision.
When you buy a new house or condo, chances are good that you will own it forever. Many people find themselves feeling trapped in situations they did not bargain for as soon as they close escrow and begin the arduous task of moving. This can lead to higher expenses down the road, and make people reluctant to invest. Fortunately, these scenarios aren't the norm, but it pays to consider them beforehand. If you decide to sell your existing residence after selling a newer one, remember the following tips on preparing your old place to meet market standards.
Before putting in offers on potential properties, it helps to conduct research. Find information like real estate listings, sales prices, crime rates, nearby schools, community amenities, traffic patterns, environmental issues, zoning laws, city codes, permits and other pertinent details. Once you've completed your homework, you'll be able to quickly identify neighborhoods that fit your lifestyle while avoiding areas prone to undesirable characteristics. Don"t forget to take note of things like parking availability, transportation options, proximity to work or school, neighborhood safety and quality of life. These factors can play an enormous role in how happy you're going to feel during the course of years spent in your home.
One thing that often gets ignored when searching for a new home is financing options. While mortgage companies offer different programs depending upon credit score and loan amount, sometimes it can be easier to use a short sale instead. Short sales allow buyers who cannot secure traditional financing because of financial troubles or other conditions to walk away from their current property. As part of the deal, lenders usually agree to pay back only a portion of the outstanding balance owed to the seller in exchange for being allowed to proceed forward with foreclosure proceedings on the former owner's behalf. A lender can then auction off the original deed of trust securing the property to recoup funds lost through the transaction. When shorted, you won't incur closing fees and interest payments until you move in. This gives prospective homeowners the flexibility to explore alternative options without having to immediately shell out thousands of dollars.
If a buyer finds he needs to finance his dream home, there are still ways to avoid incurring unnecessary debt. For example, an individual or couple could put together enough cash to cover the entire price tag outright. Or, if possible, they could arrange for a friend or family member to co-sign the loan paperwork. Another approach would be to seek funding outside a bank. Peer-to-peer lending firms like XONDOReview often provide borrowers with attractive terms which may include reduced monthly payment obligations. Other services exist to help consumers borrow against assets like cars or personal items like jewelry.
In order to get ahead of your competition, you may want to consider setting aside sufficient savings to cover the full cost of a home. Even if you intend to rent your dwelling once...
- How To Make Money On a New Home or Condo Purchases in Los Angeles, California
- We've come up with seven golden rules to help you avoid common pitfalls most investors fall victim to.
Rule #1: Do Your Homework
Even if you're familiar with your dream neighborhood, it helps to know exactly what type of house costs how much to get an accurate picture of which types of properties are worth considering.
Visit websites like Redfin Real Estate and Zillow that will show current inventory stats for each area. If they aren't showing prices listed in dollars per square foot make sure to check other sources including local MLS listings.
Use online maps like Google Maps to identify nearby locations that offer similar amenities and/or proximity to main highways. Try visiting these sites while driving around neighborhoods to see what houses seem comparable before deciding whether to continue touring.
Rule #2: Don't Overpay For A House
Most people assume that if a place feels special, then it should cost premium prices. While that logic often holds water, it doesn't necessarily apply to every city.
If something seems particularly attractive and unique -- perhaps because locals love it or some high profile celebrity lives there -- try negotiating a lower price. If necessary, be prepared to walk away to another property elsewhere; you'll eventually find yourself dealing with "price pressure" whenever you buy anything.
However, once again, you shouldn't feel bad about asking for less than sticker price simply because everyone else seems to pay retail. Some areas actually experience significant discounts or even bargain deals for homeowners who buy during underpriced periods. When that happens, it pays to wait until someone gets tired of holding onto his or her property and decides to sell.
Rule #3: Negotiate An Offer From Multiple Buyers At Once
Instead of bidding against only one seller's listing, consider contacting multiple sellers at once and offering them together what you believe to be fair terms. They'll usually agree to meet somewhere between offers made individually, thus saving precious negotiation time.
This tactic is especially beneficial if you intend to purchase several adjoining lots from a single owner or corporation, although sometimes individual owners can work something out among themselves.
When making bids on two or more listings simultaneously, be careful not to lose focus on specific details. Don't forget to include everything from closing dates to moving trucks, etc. Be polite yet firm when making proposals. Never threaten a vendor with legal action or worse unless absolutely necessary--it creates unnecessary tension and risks destroying relationships. Remember that you're competing with thousands of other buyers, so keep in mind that you won't always win.
- Online Housing Bubble Are You Feeling Lucky Today? Or Are You Doing Something You Despise?
- Investors are often seen as the bubble in the real estate market. On one hand, investors are putting in a lot of money into the real estate market. On the other hand, it is argued that the real estate market is in a bubble due to the quantity of investors that are involved. However, this is a matter-of-fact; statistics prove more and more people want to become an investor in real estate, particularly condo projects in Los Angeles, CA. According to Forbes, single family homes are the most popular investment, but there has been an increase in rental properties and condo investments in the last few years. Investors give sellers the means to buy their dream place to live where they can appreciate in value over time.
Pre-construction condos is also a different approach to buying a condo or an apartment building. You may not have been aware of it before, but pre-construction condos have many benefits. The biggest benefit you get with pre-construction condos is to choose your finishes, layout and location. Real estate is a lucrative investment if you know what you're doing and if you understand the property you want to purchase. However, with high prices on the market for condos and apartment buildings, you may want to purchase pre-construction condos.
Xondo can offer you information about some of the most luxurious condo development monstrosities across Los Angeles, CA. All you need to do is select from our comprehensive list of units available at various locations all over Los Angeles, CA. After you pick from our list of pre-construction condos for sale all over Los Angeles, CA we can start coordinating with developers and get you VIP access into their various developments around Los Angeles, CA.
You are already aware that we provide VIP access into the largest upcoming condo projects across Los Angeles, CA and other major cities around the United States. We do this by giving our investors exclusive access before they go on sale to anyone else. You will have a chance to choose your favorite units and make an offer on one of our many developments around Los Angeles, CA before anyone else can buy them.
With Xondo, you will be able to purchase exclusive access into some of today's biggest and sexiest building around Los Angeles, CA when they go on sale to anyone else. There are over 5 million units in pre-construction condos all over Los Angeles, CA; it is said that with 4 million units getting ready for sale in the next year alone, there will be more condos for sale than buyers. This means that if you want to grab your dream pre-construction condos for yourself before anyone else does, then we are here for you! We offer $500 gift cards for investors that grab these condos before anyone else does before it goes on sale for the public in 2018!
Money is not really a concern for most people as much as living their best lives is. Housing prices have been known to rise at an alarming rate across every city in America today. And with such high prices on housing today, there may be a time when average buyers will have to stay away from houses and look towards apartments or condos that are within their price range instead; but this comes with its problems too. People feel safe with houses but many don't realize condo buildings offer the same comfort and security without the price tag. Today's society is moving at such a rapid rate that people don't find time for themselves anymore; with household chores piling up and daily work routines taking up most days, people may find comfort living by themselves in a condo or an apartment building instead of having to cut your budget short from having your own house; however, being just like someone else can be so irritating at times as well; many
- How To Sell Your Condo in Los Angeles / Online
- Xondo is a revolutionary platform that will allow investors to get access to some of the most exclusive deals in California. These are not just any deals; they are ones that work. Investors can easily make big money off these developments and they have a chance to secure their investment with a quick turnaround time. Investors don't have to sit around hoping to find deals on their own. This is especially important for those who know what they are doing. Real estate takes a fair amount of concentration, energy and resources to make it work. Instead of wasting time scouring for deals and hoping for the best, choose Xondo. We offer the unique opportunity to get access to some of the best condo developments in Los Angeles, CA and across the nation. Here, these investors will have access to VIP programs and can easily exchange information with one another. All of this without having to deal with the hassle of calling everyone individually. While pre-construction condos represent a good chance for investors, they present a really good opportunity for prebuilt owners as well.
- CHEAP & EASY CASH INVESTMENT TO MAKE YOU MORE TIME & $
- Xondosystem.com will provide you with a user-friendly system that will help you access the best upcoming condo project deals in Los Angeles, California. We have a proprietary system that provides VIP access to some of the top condo developments across the USA. As a user of our platform, you will have the opportunity to receive notifications when new projects are being released, upcoming presales and other opportunities exclusive to xondosystem.com in Los Angeles and other major cities across the USA. Our account specialists will guide you through the process of securing your condos, provide you with communication with developers, and also help you with any questions that you may have throughout the process. The unit prices vary depending on location and can also be used as a form of investment or as a private residence for you and your family.
We're very confident in our services because we've had tremendous success in securing condos on our platform that are limited to a set number of people or an exclusive group by developers each year. We've been able to secure deals in some of the best anticipated condo developments such as Avalon, 502 Lofts, LOX on 2nd, Xxchange Lofts, Westlane Lofts and many more.
The process we have created allows for you to have open communication with developers, which we do not share with other investors or buyers because we find that buying a condo is most effective when it's confidential between you and the developer. Our middleman allows you to have direct access to developers and track them for any updates so that you can decide whether or not investing in a condo is right for you. Our account specialists will guide you through everything and provide any assistance that you may need during the process. We're one of the only companies to offer this type of service in Los Angeles, California and other major cities across the USA and we're confident in our service because we've had tremendous success in securing condos on our platform that are limited to a set number of people or an exclusive group by developers each year.
We've been able to secure deals in some of the best anticipated condo developments such as The Avalon, 502 Lofts, LOX on 2nd, Xxchange Lofts, Westlane Lofts and many more. Investing in real estate has never been easier than it is today. Our team is committed to helping people find their dream home before anyone else can by offering VIP access to pre-construction condos across Los Angeles and the rest of the country with xondosystem.com . Please contact us at firstname.lastname@example.org if you have any questions about purchasing any available units today!
- Los Angeles Luxury Condos, Freehold homes, Townhomes
- We provide detailed information regarding the luxury condo development. Our service also includes exclusive access to homebuyers and investors that allow private participation in projects via a crowdfunding model. We profile upcoming complete lifestyle developments, featuring information on location, design and studio mockups.
Downtown Los Angeles puts you in the heart of the action. Get a head-start on the competition by securing early access to one of these luxury developments. These LA condos are premier properties that will yield strong ROI, guaranteed. You just won't be able to get enough of LA with its abundance of things to do and California sunshine. Visit Hollywood Boulevard and its array of exotic restaurants and clubs, go for a stroll along its strip of designer boutiques, get in touch with nature in its sprawling parks, or watch a sports game at Staples Center – your new home will put you in the heart of it all! Spread across an approximate 20-acre area, The Plan at LA Plaza is a master-planned community comprising of 230 modern and luxurious residences, a boutique hotel, world-class retail shops, restaurants & cafes, fitness centers, yoga center, and an expansive event plaza. The modern $250m development boasts a long list of amenities including banquet venue, rooftop infinity pool, spa & salon suite, dog park, art garden and BBQ area.
- New condo Complexes Near me
- There is no shortage of new condos options available to buyers who wish to invest in real estate these days. While some people prefer buying single family homes, many find condos offer the benefits of being close to amenities while still having space to develop a life outside the property. However, there is always going to be something special about owning a home built specifically for living; and this is why investing in a newly constructed condo complex makes sense.
If you’re considering moving to LA from somewhere else, it’s worth noting that the market here will continue to see growth well past 2022. According to CBRE Research, sales activity was already rising above long run averages prior to Covid-19 hitting us full force. As of March 2019, total absorption had reached $1.8 billion, representing a 3% increase over 2018 levels — and it appears demand isn’t slowing down anytime soon.
- Should I Buy a Condo in Los Angeles
- How does this work? Here's what happens when I start my search.
I head down to the MLS® system, which gives me immediate access to recent sales activity across the area. If I see something interesting -- say, a large apartment building up for sale near University Place -- I'll click through to view that property. That brings me straight to Zillow®, whose robust tools allow me to explore the asking price, square footage, amenities, views and overall value of each individual unit. From there, I'm able to learn whether buying there makes sense.
If so, I'll get in touch with a broker who specializes in apartments. These brokers typically provide the most detailed information available on specific properties. Most offer tours, market research reports and other services to help me narrow things down further. If after speaking with several different brokers, I decide no deal exists, I just keep searching, since not every broker represents every development.
And once I find one that fits, we take it from there. My mortgage lender will run some credit checks, verify employment, collect bank statements and check rent histories. We'd then negotiate price. And finally, we buy. Simple.
Is everyone else doing this already? Of course they're not. But this isn't rocket science. It takes patience and persistence but ultimately helps us avoid bad deals while finding great ones.
In addition to offering valuable tips, advice and guidance through a team of real estate experts, XONDO provides cutting edge technology to find high quality homes quickly and easily. Our unique web/app combination gives consumers instant access to millions of listings around Los Angeles in seconds, without ever having had to leave their screen.
So here's what I found:
1. Buying A Condo Is More Affordable Than Purchasing Single Family Homes
Purchasing Condos Has Grown Much Faster On Average than Houses Have Over Last Decade - The average cost of living in the $500k+ category grew 4% faster over the past decade compared to the typical house. Meanwhile, condos made up 3% of total housing stock nationwide during 2018.
2. Many Areas Offer Some Of Largest Discounts On Units & Land Prices Compared To 20 Years Ago
For example, the median discount rate was 2.7%, according to the National Association of Realtors®, making purchases today 25% less expensive than a similar purchase 10 years ago. However, these discounts aren’t universal; many areas remain overpriced when compared to historical values—and those numbers go above 5%.
3. Today’S Buyer Expects Higher Quality Finishes When Shopping For An Apartment Vs House
Today’s buyer expects higher finishes when shopping for an apartment versus single family houses, including walk-ins, stainless steel appliances, granite countertops, wood floors, and private yards among others. (source: NAR study). They expect larger units because space matters in urban environments. As well, there’s simply no going back. Today, buyers feel like they cannot afford to wait until prices inevitably rise again.
- How to buy a Condo in Los Angeles
- Buying real estate property for sale in Los Angeles, CA requires a lot of planning and preparation. If you are thinking about buying or selling a house or building in LA then this article will help get started.
We provide up-to-date information and insight into the current market trends, local regulations and legalities to assist buyers and sellers alike. We cover everything from how long does it take to sell a house in L.A. County to tips on how to finance your real estate purchase, including loans, credit cards & cash purchases.
If you would like to find out about buying or renting property near Hollywood, Beverly Hills, Santa Monica, Westwood or Culver City, check out these sections below:
Los Angelinos love living in L.A. because of great weather year round, entertainment venues and culture. However, it's no secret that the cost of housing continues to rise making it increasingly expensive to live here. So, how should a buyer approach purchasing a place in LA to ensure they are getting the most bang for their buck? Here's how.
- New Apartments Los Angeles Ca
- XONDO provides detailed information regarding new apartment purchases including location, floorplan details, price ranges, size comparisons, amenities & more across various neighborhoods around Los Angeles, CA. Our guides help consumers find the perfect place to live and provide insights into everything that matters most — from property value trends to community events.
We encourage everyone who wants to buy real estate properties, especially apartments to follow these tips below while making the decision to purchase property.
First things first, decide on the area you would like to move into. Choose wisely because this will determine many factors such as whether or not you should rent instead of buying, neighborhood demographics & other relevant concerns which could affect your overall living experience. Location, location, location. So pick carefully and always consider multiple locations as they often offer better deals than those located near downtown areas of LA.
Second thing, be ready to spend some cash. Buying homes takes lots of funds so ensure you have enough saved up beforehand to avoid getting yourself in financial troubles later down the road.
Third step, shop and compare prices. Make sure you research all available options online by reading reviews, talking to friends and family members already settled there and visiting different showings/open houses.
Finally, once you found the one that meets your needs, contact your agent and arrange financing accordingly.
- Condos Los Angeles County
- This page presents current information regarding buying real estate properties specifically in southern California.
Los Angeles County Property Information
We make every effort to ensure the accuracy of this property listing map but cannot guarantee availability. If you see an error please contact us immediately via phone or email.
Buy Real Estate Properties in Southern CA
There are great deals available depending upon which area of town you buy! Check these areas first:
Lancaster Area South Littlerock Valley/Valley Cities Arroyo Grande Folsom El Cajon San Bernardino Inland Empire Pasadena Rosemead West Covina North Hollywood East Santa Monica Topanga Chatsworth Alhambra Arcadia La Habra Beverly Hills Malibu Encino Montecito Bel Air Newport Beach Pacific Palisades Rancho Park Studio City Woodland Hills Burbank Glendale Montclair Glenview Pico Rivera Torrance Gardena Inglewood Hawthorne Commerce Knoll View Miraleste Bell Gardens Long Beach Cerritos Laguna Niguel Carson Village Pomona Diamond Bar Riverside Fontana Ontario Moreno Valley Lake Balboa Temecula Corona Norco Irvine Huntington Beach Orange Bremerton Visalia Ventura Port Hueneme Carlsbad Thousand Oaks San Pedro Imperial Vallejo Fairfield Solano Palo Alto Concord Fresno Tracy Oakdale Stockton Modesto Salinas Redlands Bakersfield Sacramento Reno Las Vegas Nevada Albuquerque Atlanta Seattle Phoenix Dallas Fort Worth Miami Houston Colorado Springs Denver Indianapolis Nashville Chicago Milwaukee Kansas City Detroit Washington D.C.
- La Condo Prices
- As I mentioned earlier this week, LA condos continue to be hot property. But while prices remain high and demand continues to climb, they are only going up as the city prepares for population growth and a shortage of housing stock.
If you buy early enough, or get lucky enough to find a great deal on a newly built project, buying a house will become increasingly attractive, but not without risk. Here's why...
We're living through a real estate bubble. We've seen prices skyrocket as many buyers take advantage of historically low interest rates and lax lending standards. While interest rates rose slightly recently, they still hover near historic lows.
In fact, the national average 30-year fixed rate mortgage increased just 1 basis point since January. And even though some lenders raised rates after the presidential election, they haven't yet begun applying them retroactively. Lenders typically wait until March 15th each year to raise loan rates. So unless Congress acts to halt increases soon, borrowing costs won't rise significantly anytime soon. Meanwhile, builders keep cranking out projects. As a result, inventory levels are low, which keeps sellers' asking prices inflated.
But while supply remains tight and prices aren't falling like some had feared, that hasn't stopped developers from building lots of apartments. A record 17 percent increase in single family rentals was reported in 2017—more than double the amount of units built during the same period in 2016. Developers say there are simply no other options for families who can't afford homes. "If there's pent-up demand, then people should jump," says John Shaffer, president of the Greater Beverly Hills Building Industry Association in California.
Demand is strong because young, urban professionals are moving to cities across the country.
According to the Census Bureau, the median age of Americans living in large metropolitan areas increased about 4 years since 2007. And according to the US National Intelligence Council's 2020 Global Trends report, international migration could reach nearly 200 million by 2030. More migrants mean more renters, especially young adults. Many millennials prefer living downtown rather than paying exorbitant rents in suburban neighborhoods far away from work. They'll pay top dollar for apartments close to entertainment venues like bars and restaurants, cultural centers and museums, transit stations, shopping malls and schools.
"There's an apartment boom occurring around America," explains Michael Tchobanoglous, senior vice president of global capital markets at CBRE Group Inc., a commercial realtor headquartered in Irvine, Calif. He cites San Francisco and Boston as examples of cities seeing rapid appreciation.
And the market isn't slowing down either. Average sale prices in Southern California jumped 5% annually in 2018, according to CoreLogic. Sales activity, however, fell 8%, partly due to rising inventories. Still, sales activity rebounded significantly in 2019.
So, what does this mean for investors? If you bought a $400k unit a few months ago, chances are good it'll sell at least 50% higher a couple years from today. That's because demand is already outpacing production. Plus, the market is poised to heat back up next year, given rising interest rates. At current price levels, condos represent excellent opportunities.
- New Construction Condos Los Angeles for Sale
- This edition of XONDO’S LA NEW CONSTRUCTION CONDOS GUIDE was written in partnership with some industry experts who focus specifically on real estate trends in the area of Los Angeles, CA including real estate brokers and builders. They were able to lend us their expertise regarding market statistics, recent projects completed in LA and current trends in the area. This gives this particular section much value because while most people just read these articles without going through them closely they still offer key information for investors to be aware of.
They shared their expertise with us which allowed our team to produce better content than would otherwise be possible since we had no background knowledge of the subject matter other than reading online news sources. We hope to continue offering our readers similar partnerships in the future.
Here Is Your “New Construction Los Angeles Real Estate Report Card™ For 2020″
1. The housing market is currently experiencing record high sales numbers across the country but especially in Southern California.
2. Housing prices will increase significantly during the next several years. The average price per square foot should rise approximately 10% each year until 2025.
3. A significant portion of homes sold today are under contract. If buyers aren’t careful, they could lose out on potential profits. Sellers must work harder to attract qualified buyer traffic.
4. Buyer agent commissions are on the decline due to fewer transactions being completed. Many agents believe that buyers will have to pay less for service fees to compensate for lower commission rates. This trend could affect the way consumers shop for services like escrow and title companies.
5. As property values become higher, homeownership becomes easier for first time buyers and young families because interest rates are historically low. However, rising mortgage payments could pose problems for older generations.
6. More affordable properties in desirable neighborhoods will make it increasingly attractive for renters to leave rental housing in search of greener pastures. Renting options will expand because landlords will face increasing competition from developers building larger complexes catering to millennials and baby boomers alike.
7. The amount of available inventory will remain relatively stable over the short term given demand exceeds supply. Long term, however, many analysts expect this excess supply problem to persist. Developers will need to invest heavily in building additional units to keep pace with increased demand.
8. Rental vacancy increases will depend largely upon new apartment development. Because renters represent almost half of all households nationwide, their impact will be felt nationally and regionally. Even though rents overall will begin to climb next year, vacancies will probably increase only slightly. Vacancies tend to follow cycles around 3–12 months.
9. Most rental buildings built after 2010 will be constructed with efficiency improvements including energy saving systems. These upgrades are intended to reduce operating costs, cut utility bills and potentially improve unit availability and profitability. Tenants often prefer newer buildings featuring modern amenities.
10. Millennials account for nearly half of newly licensed drivers. Young adults are driving vehicles with more comfort features and safety equipment than ever before. Their preference for SUVs will contribute to higher auto insurance premium costs.
11. Automobiles with automatic transmissions will become more popular as manual transmission cars decline in popularity.
- New Construction Apartments Los Angeles
- Are you ready to move to LA but unsure which neighborhoods will be the most affordable? Or perhaps you're moving back to your roots? Either way, this comprehensive apartment directory lists the key trends and statistics relevant to each neighborhood across all price ranges to ensure you get the info you need to find your dream property.
We've organized everything around demographics to help you avoid the usual pitfalls of choosing a place to live. For example, most people assume high rents mean "bad" areas, while some people prefer less expensive neighborhoods simply because they feel like neighbors actually care about them. If you're searching for something truly unique, these guides should save you months of research.
Whether you are considering investing in the city's booming tech scene, urban living, boutique shopping, entertainment hotspots, and historic landmarks -- or anything else under the sun -- this guide provides insight into the current market and gives you the confidence to buy confidently, knowing exactly what a great deal looks like.
For those who want to invest without compromising lifestyle, we feature the latest developments in luxury homes across California and New York City, including updated information on luxury condos and penthouses near downtown Manhattan. We've even got plenty of listings in Hollywood Hills, Beverly Park, Studio City, Westwood Village, Santa Monica and Malibu.
What sets us apart from other real estate websites is our focus on quality, not quantity. Our team knows the ins and outs of every community in which we work, making them invaluable partners during your buying journey. Each post includes detailed floorplans alongside stats about school ratings, crime rates, house values, commute times, nearby attractions, parks and pools, restaurants, gyms, libraries, schools, hospitals, transit hubs, grocery stores, and coffee shops -- just to name a few.
So whether you're interested in moving to Los Angeles or relocating to another part of the country, use this guide to help narrow down your options and learn what makes each area special. Once you've found your perfect spot, don't hesitate to contact us to book a showing, set up interviews and tours, and receive personalized recommendations for services such as lawyers and accountants along the way.
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- New Condos Los Angeles + How to Buy
- Los Angeles will always be known as a city full of life and beauty. When deciding where you live, location should come first; however, this does not mean living near famous locations like Disneyland or shopping centers will ruin your dreams. If you decide to invest and buy property in LA, then take note of these tips below because they will help you find your dream house.
Check the MLS Listings For Potential Deals – As long as the housing market remains strong, buying real estate is still considered extremely lucrative. Buying homes through realtor.com was previously recommended but that is no longer true. Instead, check your local Multiple Listing Service listings online. Find properties listed with the most recent deals and get some ideas for potential deals yourself. Do not limit yourself to only viewing single family homes either. View condominiums/townhomes, apartments and other types of realty in order to maximize your chances of finding something worth investing in.
Do Your Due Diligence On Properties – Once you have found possible properties that fit your criteria, conduct thorough checks on them. Inspect each one thoroughly by walking around the interior and exterior of the premises. Also, ensure the land area surrounding the unit meets minimum requirements. Make sure there aren’t any visible defects that need fixing before actually signing a contract. After inspecting every aspect of a prospective unit, contact the seller to request the necessary documentation.
Research Mortgage Rates & Payments Online – While searching for houses online, keep tabs on mortgage rates and payments when doing research. Research online if mortgages available are competitive and can offer lower down payment amounts than banks would require under traditional lending standards.
Get Preapproved For A Loan From Bank Or Credit Union – Another way to avoid costly mistakes is by getting prequalified for a loan prior to actually choosing and contacting a lender. Most lenders who deal with financing the purchase of large assets typically allow the buyer to apply for loans by going through third party brokers while maintaining confidentiality which makes things easier for everyone involved. These brokers normally charge small fees and commissions for helping clients secure financing quickly without having to go back to multiple agents. Also, be aware that if you already work for a bank or credit union, the interest rate charged can vary according to your employer. Therefore you may be able to save several hundred dollars.
Ask About Refi Programs – One benefit of refinancing is that many times buyers receive cash incentives if they refinance their current mortgage so this could offset costs associated with home ownership. The incentive programs offered tend to be tailored depending upon whether the borrower owns their residence outright or is making monthly payments. Some homeowners opt for short term and refinance immediately after completing renovations, remodeling and improvements whereas borrowers paying their mortgages on time often qualify for fixed rate refinancings for tenured periods with longer maturities for better rates.
Consider Moving Out Of Debt And Starting Over Again – Many people take advantage of this program where loans made against home value are provided through various federal government tax credits schemes, including Section 1031 Exchange Program and HECM First Time Buyer Program. Also, consider moving out of debt entirely and starting again with no financial obligations whatsoever.