Downtown Lofts Continue to Fall in Price

I wrote about Eagle Rock the other day, and how prices there have dropped. Another eastside area that really seems to be seeing declines is downtown. Everyday, I get price cut listings from the lofts. I have to say, I think we’re going to see these lofts come down much further in value before the fall is over. That’s tough for the neighborhood pioneers who have committed to making downtown a real neighborhood – some of these lofts are really beautiful. But it’s definitely a risky place to call home right now. Here are a couple of listings to check out:

• This 800-square-foot FSBO in the ShyBary Grand has been on the market for a while, and is now down to $312,000.
• Over in the Higgins Building on 2nd St, this one has 1,000 square feet and an asking price of $390,000.
• The Higgins actually has lots of listings. This is a short sale with 760 square feet, listed at $399,000. There’s also a foreclosure listed for $394,900 – it’s a corner unit.
• This one at the Eastern Columbia Building – my personal favorite – is still for sale for $499,000. I’m actually surprised no one has purchased it yet.