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8 Responses to “Hello world!”

  1. Mr WordPress Says:

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  2. Stephen May Says:

    I, Stephen May, am selling and buying at the same time. I’m selling my loft in the Bartlett Building and buying a loft at Little Tokyo Lofts. I’ll publish an article about this in my eNewsletter, which goes out to 950 subscribers. Call me or email me if you wish to subscribe.

  3. Stephen May Says:

    LITTLE TOKYO LOFTS…MY FAVORITE DOWNTOWN L.A. LOFT CONDOMINIUMS!

    The Downtown Condo Team of Stephen May and Wayne A. Willbur will be showing units for sale and lease at the adaptive-reuse Little Tokyo Lofts, 420 S. San Pedro St., formerly a Westinghouse factory, this Saturday, March 24, from 10:00 am to 4:00 pm.

    Downtown Residential Real Estate has moved its office to the Little Tokyo Lofts, Unit 519 in the mixed-use industrial/residential Toy District, which is located between Los Angeles St. and Alameda St., just south of Little Tokyo. This live/work loft also serves as Broker Stephen May’s second home. Unit 519 is a corner plan with exposures to the east and south, a large closet, maple floors, and 12-foot ceiling. The secure deeded parking is located in a separate garage structure connected to the residential building by a walkway overlooking the pool and spa.

    Stephen May, though himself a real estate licensee, chose to be represented in both the sale of his Bartlett Building loft and his purchase by teammate Wayne A. Willbur of Deasy/Penner & Willbur. Both transactions are reported at http://www.themls.com, MLS# 07-158999 and MLS# 07-153877.

    This Saturday, March 24, Wayne and Stephen will be available at Little Tokyo Lofts from 10:00 am to 4:00 pm to show clients units for sale and for rent. Out of 161 units, 51 are still available for sale. They range in price from $325,000 for a 690 sf loft to $1,020,000 for a 2207 sf two-level unit. All come with deeded parking. One 861 square foot west-facing unit with skyline view, walk-in closet and secure, covered parking is available for rent at $1700 per month. Wayne and Stephen can repressent you as a team in either a purchase or lease. Two for the Price of None (Seller/Landlord pays commission)!

    Let Stephen (213-804-3800) or Wayne (213-500-0254) know if you’ll be coming by on Saturday, March 24 any time between 10 and 4, so we can arrange a tour for you with the Sales Staff, or just drop by. There is ample guest parking; just pull up to the security station in the alley south of the building and tell the guard you’re seeing Stephen May, Unit 519.

    If you want to be assured of a quiet upstairs neighbor, be sure to ask to see Unit 419. It’s a 966 sf corner unit with huge windows and large closet, asking price $495,000, $20,000 less than what Stephen paid for the unit one level above! And Stephen and Wayne will attempt to negotiate some amenities/concessions from the Seller on your behalf.

    Hope to see you on Saturday. Drop by or better to call in advance, so we can arrange the all-models tour for you.

    Stephen May
    downtownlofts@gmail.com
    213-221-4514

  4. Stephen May Says:

    FEWER ACTIVES AND MORE PENDINGS AND SOLDS OF DOWNTOWN LOS ANGELES CONDOS

    January 25, 2007
    194 ACTIVE…79 PENDING…12 SOLD IN PAST 30 DAYS

    March 24, 2007
    178 ACTIVE…92 PENDING…42 SOLD IN PAST 30 DAYS

    These are the numbers reported on CLAW MLS, the Combined Los Angeles-Westside Multiple Listing Service, of which Broker Stephen May, Downtown Residential Real Estate is a member.

    Search criteria used are: ACTIVE, PENDING, LOOKING FOR BACKUP, SOLD, condo, Area 23 (Metropolitan), Area 42 (Downtown LA), SOLD in last 30 days.

    What do you think is going on? Post your comments and read the comments of others at http://downtownlofts.blogspot.com, https://downtownlofts.wordpress.com, or http://condoDomain.com/blog.

    It’ll be interesting to see how many different explanations people can come up with. I may even offer one or a few of my own.

    Stephen May
    Broker, Downtown Residential
    Selling Downtown Lofts since 1989!
    213-221-4514
    http://www.DowntownCondosandLofts.com
    downtownlofts@gmail.com

  5. Stephen May Says:

    FEWER DOWNTOWN CONDO ACTIVES, MORE PENDINGS AND SOLDS!

    January 25, 2007
    194 ACTIVE…79 PENDING…12 SOLD IN PAST 30 DAYS

    March 24, 2007
    178 ACTIVE…92 PENDING…42 SOLD IN PAST 30 DAYS

    These are the numbers reported on CLAW MLS, the Combined Los Angeles-Westside Multiple Listing Service, of which Broker Stephen May, Downtown Residential Real Estate is a member.

    Search criteria used are: ACTIVE, PENDING, LOOKING FOR BACKUP, SOLD, condo, Area 23 (Metropolitan), Area 42 (Downtown LA), SOLD in last 30 days.

    What do you think is going on? Post your comments and read the comments of others at http://downtownlofts.blogspot.com, https://downtownlofts.wordpress.com, or http://condoDomain.com/blog.

    It’ll be interesting to see how many different explanations people can come up with. I may even offer one or a few of my own.

    Could it be that before, it was the speculators, the flippers, who were running the show, and most of the sales were between individual buyers and sellers. Now there’s a gush of new development (twenty developers all had the same idea at the same time), and now the developers are running the show (the individual sellers can’t or won’t compete), and the developers “create” the statistics by selecting which listings to publish and which sales to report on the MLS.

    What we now have may be a very skewed picture of the true situation, which may serve the developers interests, but makes it difficult or impossible for buyers, sellers, or their agents to really know what’s going on in the real estate market. How many units are really on the market? The developers list just a few of the available units to make it look like there’s less supply than there really is. Hurry, won’t last!

    Traditionally, the MLS has been the reliable source of information about sales activity, as County Recorder information is notoriously inaccurate and by the time they make it into the public record, we’ve cycled into a completely different market. And County Recorder reports sales, not supply. And the industry associations, like those that represent agents, lenders, and real estate-affiliated industries, talk “happy talk” to “inspire confidence,” to keep people buying whether confidence is warranted or not.

    So, what’s going on? Are there more sales or are the developers just reporting more sales, in order to appeal to people’s ingrained psychological instinct to want to be a member of the herd. People feel secure doing what everyone else is doing. Lemmings hurling over the cliff. At the bottom of the cliff is a loan that adjusts to a 4300 higher payment in two years. Regarding the rule and spirit that MLS members should publish all their listings on the MLS to give a true picture of supply and to enable agent to properly inform and advise their clients, should developers be exempt?

    One thing for sure, with the wave of foreclosures on the way, all the bank-owned properties will be published on the MLS, because tha bank are going to need all the help they can get from sellers agents and buyers agents, and the place they meet with information and offer of cooperation is on the MLS. Watch for a big increase in ACTIVES, many REO’s (real estate bank-owned), that’s going to swell the supply. We know what pressure that has on prices. Banks get what they can. They don’t let their emotions, pride, and perceived “upgrades” get in the way. They’ll sell for what they can get. Their investors demand it.

  6. downtownlofts Says:

    [slideguest id=288230376157592833&w=426&h=320]

  7. downtownlofts Says:

    In early March, I bought a unit at Little Tokyo Lofts, which now serves as the office of Downtown Residential Real Estate and as my second home. I like the place very much, both as a place to live/work and as a long-term investment.

    The Sales Office of the developer, Hammer Ventures, informs me that there are around 40-45 units out of 161 still available at this time, going fast. They are for sale at a variety of prices, mostly lower floors, various floor plans, three remaining exposures (northern is pretty much sold out). I can represent a buyer of these units, negotiate concessions/amenities on my client’s behalf, and get paid a commission by the Seller/Developer.

    There is, in addition, what I consider to be an especially good opportunity to buy upgraded units from a reseller. These are the only two units published for sale on the MLS other than those being sold by developer Hammer. They are both approximately 800 square feet with city views. These properties are listed with another agent, who represents the seller and offers to “cooperate” with a buyer’s agent. Seller pays all commission. For sake of ease, I will simply reprint here the MLS-published remarks of the List Agent. Call me, Stephen May, at 213-221-4514, who will represent you the Buyer exclusively, for more information or to arrange a showing.

    Unit 522, Asking $455,000–List Agent’s REMARKS:

    “Come Now! Model unit priced for immediate sale! Slashed over $50k! Designer upgrades include additional cabinetry, lighting, window treatments, niches, all stainless appliances, lush paints & so much more. Plus an unbelievable 2 car parking that you own & an unheard of 1 year paid HOA at $429 per month. Dont miss this once in a lifetime chance to own a gorgeous live/work loft in the heart of downtown LA.”

    Unit 402, Asking $457,000–List Agent’s REMARKS:

    “Huge reduction.. over $50k! Model unit priced to sell quickly. Your gain on an a move in ready designer unit.. ready to go! Plus, you own 2 car parking and get a FREE year of HOA at $419 per month. For a live/work loft of this quality and calibur at this price simply does not exist anywhere in downtown LA. Do not miss this golden opportunity. Come now!”

    The language the Seller’s Agent uses in his property description is a little different from the language I use…but you get the picture.

    Again, call Stephen May, REALTOR at 213-221-4514 for more information or to arrange a showing of these two units (any day, any time), or other units being sold through the Sales Office (Monday-Saturday, 10-5). I especially like Little Tokyo Lofts. I bought here myself. And I know Downtown condos!

  8. Stephen May Says:

    I plan on being at the Inaugural Event at Nokia Plaza in Downtown L.A. starting at 8:00 AM with a sign that reads “BOOO!!! HOMOPHOBE Rick Warren”. If anyone wants to join me, call me on my cell 213-804-3800. Stephen May

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