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In these uncertain times there is plenty of information and unfortunately, misinformation, about the current state of the housing market. The misleading predictions and status updates about the market apply both here locally in Los Angeles and the country as a whole. Given the potential for ambiguity and confusion, I want to set the record straight and help both current homeowners...
On November 3, 2020, California Proposition 19 passed with over 51% of the 15 million votes cast. Taking effect on April 1, 2021, the passage of Proposition 19 ushers in an unprecedented tax benefit for Californians aged 55 years and older. As you may recall from our earlier blog post “California Proposition 19: What You Need To Know”, an individual 55 years or older can take...
Anyone who has experience in real estate transactions may have seen or drafted a love letter. Written by a potential buyer to a seller, these letters are a great way for buyers to connect with sellers in an effort to get their offer chosen. Given the limited supply of homes in California, buyers will do almost anything to have their offer stand out, which only makes love letters more prevalent....
For 45 short years, Americans have celebrated the achievements of African Americans and recognized their central role in U.S. history. President Gerald Ford decreed February as a national observance in 1976. He said, “In celebrating Black History Month, we can seize the opportunity to honor the too-often neglected accomplishments of black Americans in every area of endeavor throughout our...
The month of July finished off with some slightly lackluster statistics, surprisingly not only in the condo/townhouse market but also in the Single Family Residence (SFR) market as well. After what can only be described as a two-year crush in SFR listing inventory in Los Angeles County, it appears that we could be starting to see supply creep back into the market. Before we dive...
With forbearance plans about to come to an end, many are concerned the housing market will experience a wave of foreclosures like what happened after the housing bubble 15 years ago. Here are four reasons why that won’t happen. 1. There are fewer homeowners in trouble this time After the last housing crash, about 9.3 million households lost their home to a foreclosure, sho...
On September 16, 2021, Governor Gavin Newsom signed Senate Bill 9 (SB 9), also known as the California Housing Opportunity and More Efficiency (HOME) Act. The passage of SB 9 will forever change single-family zoning in the state of California. The bill was created with the purpose to increase housing in the state. SB 9 allows homeowners of single-family property to divide their single-family pa...
October 7, 2021 C.A.R. releases its 2022 California Housing Market Forecast California housing market to remain solid if pandemic is kept under control, but structural challenges will persist. Existing, single-family home sales are forecast to total 416,800 units in 2022, a decline of 5.2 percent from 2021’s projected pace of 439,800. California’s median home ...
There are more homebuyers than homes to buy right now. That means a lot of home sellers find themselves in the fortunate position of having multiple offers to sift through, with many offering more than listing price. Welcome to a seller’s market! While having a bunch of buyers throwing money and promises at you is a wonderful problem to have, you still need to know how to choose a single ...
