L Street Loft Sales Restarted

L Street Loft Sales Restarted

L Street Loft sales are back in the news after a few years of uncertainty brought on by the collapse of the local real estate market.  According to a recent article in the Sacramento Business Journal, sales agent Hyrum Gray indicated doctors and international people involed in politics are among those driving early L Street Loft sales interest.

Roughly a year after original developer Sotiris K. Kolokotronis lost the L Street development to foreclosure in 2011, current owner Bob Clippinger picked up the project and is now moving forward with plans get all L Street Loft units sold.

The fact that many of the units in the L Street project are rented, could extend the sales effort. However, the general health of the local real estate market and the renewed interest in the Downtown Sacramento market should provide plenty of buyers looking to locate Downtown, and plenty of investors bullish on the long term prospects for units in one of the premiere properties in the Downtwon area.

Financing and the L Street Loft Sales Effort

Like units in many condo and loft projects that came to market during the recent real estate market downturn, L Street Loft units can be a challenge to finance.  Conventional financing sources are hamstrung by strict regulations, often tied to things like owner occupancy percentage, and for that reason financing sources are limited.

For those interested in purchasing a condo or loft unit and are having trouble getting a mortgage, let me know. There are solutions.  Financing "non-warranted" condos can be done, you just need to go to the right place for help.  There are a few of us working in the Sacramento area that can get "non-warranted" condos financed, and if you are looking for help I will be sure that you get sent in the right direction.

Now the L Street Loft sales have restarted, it's a great time to poke around Downtown Sacramento and experience why there is so much interest and so much energy Downtown.