Just when you think the market is flat and that pricechops rule the day, comes word that a stampede is underway. Or so says our tipster, reporting from the trenches of a recent brokers open house at Museo Lofts. This is that building on Ridgeley Drive in mid-Wilshire, a 52-unit condo project brought to you by the same people behind Universal Lofts and Studio 837. A few months ago, the prices were advertised in the $400,000s and up. We're inclined to think our tipster is authentic and not shrilling. He writes: "Not sure if you've heard what's going on with Museo Lofts. They got 15 offers on the first day they were open (Tuesday a week ago), and continued to have such overwhelming response that by Sunday, they had cancelled the open house and had someone there turning people away. Only people who had already submitted offers were being allowed in." Our tipster also sends word that sales team are "absolutely" going to be raising prices on any remaining units from the pre-sale prices before they go into the MLS. I'm praying they don't try to jack up the prices on units with offers on them..." The voicemail at Museo Lofts is full and not accepting messages. Are people jonsing for colorful if slightly bland-looking new construction around here? What's going on, Museo!
· Meeting Museo Lofts [Curbed LA]