October 2013 - Loftway : Loftway

iPhone Resale

6 Nov 2013 · by ChrisSampaio


I got every single iPhone since its launch. I also sold every single iPhone that I use after I got a new one. I remember the day that when you upgraded your phone the other phone would go straight to your drawer and then straight to the trash. 

Its amazing how much resale value the iPhones hold. This is not the norm for all other brands. Also the GSM models (T-Mobile/At&T) have more value because they work all over the world. 

I see the same phenomenon with housing. If you picky the right unit in the right building it will appreciate more over time.

One good example was the Elleven building in Downtown LA.

After the crash most of the building had a 45% price correction. Units that were selling for $560k were ben short sold at $280k. A lot of people lost a lot of money.

One of my clients had the Penthouse there that he bought for $1.7 Million. We were able to resell for $2.4 Million in a down market. Not only he did not loose money, but he made a profit.

I understand that not everybody can afford the Penthouse, but it shows that sometimes paying a bit extra for something can pay off in the end.

Virtual Staging

18 Oct 2013 · by ChrisSampaio

This week I tried Virtual Staging on one of my listings for the first  time. For the ones not familiar with the concept, Virtual Staging is when you get a picture of a vacant LOFT and ad furniture digitally (on photoshop or similar software).

I was very happy with the result. If the sellers are on a budget and don’t have money to do  real staging, this helps getting buyers in. You can see the three pictures we modified below.

007-Living_Room-743540-mls 007-Living_Room-743540-print 011-Living_Room-743550-mls 011-Living_Room-743550-print 016-Bedroom-743549-mls 016-Bedroom-743549-print

Study of Real Estate Firms

11 Oct 2013 · by ChrisSampaio


I ran into this the other day and thought was interesting. You can see the full study HERE, but here are a few of the points that are worth noticing:

84% of the firms are independent (non franchise)

13% are independent franchises

3% subsidiaries of a national or regional corporation

8 out of 10 specialize in residential RE

13 years is the average time the firms have been around

80% of the firms operate out of a single office

8% of the firms have 4 or more offices

25 is the average number of transactions for the typical firm




Can You Purchase Your LOFT During the Government Shutdown?

11 Oct 2013 · by Virtual Results PubSub

your home during the government shutdownIf you are in the process of purchasing your LOFT and are worried about the government shutdown, recent news from Freddie Mac may have you sleeping a little better.

The announcement, effective October 8, 2013, allows lenders to use signed federal tax returns as income verification rather than a tax transcript for loans, loan modifications, and certain other loan programs.

Asking lenders nationwide to “minimize disruptions” in a recent bulletin about the shutdown, Dave Lowman, Executive Vice President, of Single-Family Business at Freddie Mac said, “We’re issuing this guidance to help ensure the continued smooth operation of the mortgage market during the temporary shutdown of the federal government.”

“Today’s bulletin [issued October 7, 2013] is intended to give lenders the certainty to continue approving and delivering new mortgages that meet Freddie Mac guidelines to eligible borrowers, such as federal employees and contractors, during the temporary shutdown,” he explained. This news should comfort many potential LOFT owners affected by the government shutdown, in public and private employment, who temporarily find themselves without an income.

Lowman also reiterated the presence of forbearance provisions, which can be made available for a time period of three to twelve months to qualifying borrowers. “We are also reminding servicers of our forbearance options to assist qualified LOFT owners with Freddie Mac mortgages,” he added, “to minimize the shutdown’s impact on our nation’s families and communities.”

Find out more about how the temporary government shutdown may affect your LOFT ownership by clicking here.

Staged versus Not Staged

4 Oct 2013 · by ChrisSampaio

Does it really make a difference if your place is staged or not? What is worse vacant or dirty and messy? I have the perfect example for this. I had two listings in the same building right next to each other. Same size, same view, same floor. One was nicely decorated and the other was dirty and messy. Both tenant occupied. The messy one was $660,000 and sold last, staying 3 months on the market, it only sold when the tenant finally moved out and was vacant. The second one was priced at $675,000 and sold in 2 weeks at asking.

Below are the pictures. It does make a difference.

SOLD FOR $660,000 more than 3 months.


SOLD FOR $675,000 in 2 weeks.