Late-Fall 2023 Median Home Prices: Median price rises across Southern California by 5.1%. County-wise Median Prices (2024): Orange County leads with $1.1 million, followed by Los Angeles, San Diego, Ventura, Riverside, and San Bernardino.
Tax Relief Eligibility: Property damaged by calamity may qualify for tax relief. Proposition 19 Transfer: Allows tax base transfer for substantially damaged properties.
Breaking news! Interest rates at pre-pandemic levels, mortgage rates at all-time low, announces Fed. It's a dream come true for homebuyers who have been waiting for the perfect time to enter the market! Dream on… Happy April Fool’s Day!
Easter is a Christian holiday that celebrates the belief in the resurrection of Jesus Christ.However, according to many theologians, Easter originally began before the arrival of Christianity.It is believed that Easter is named after the Anglo-Saxon goddess of the dawn and spring, known as Eostre.Examples of Easter traditions include Easter eggs and related games such as egg rolling and egg decorating.
A for-rent sign is seen in front of an apartment building in Los Angeles, where rental prices dropped by 2.5% in February 2024. Despite the decline, finding affordable housing remains challenging for many renters, especially young adults. The decrease in rent prices is attributed to a possible drop in demand due to population losses in parts of Southern California. Continue to full article
Many regions in the United States are facing a shortage of affordable housing, with rising costs relative to income. Black and Latino households are disproportionately affected. The insufficient production of new housing units is a key factor in the housing crisis, particularly in California. Recent policy changes in California aim to address the housing shortage by holding local jurisdictions accountable for planning for adequate housing. Continue to full article
The introduced federal bill aims to address the homeowners' insurance crisis, particularly in California. The bill aims to use federal reinsurance to prevent insurers from leaving high-risk markets and ensure coverage for natural disasters.
Homeowners in LA County can reduce their home's taxable value by $7K. The Homeowner’s Exemption, available since 1974, offers this financial relief for primary residences.
A report from USC's Lusk Center for Real Estate predicts rising multifamily rents in Southern California, posing challenges for commercial real estate financing. Factors like maturing debt, high interest rates, and housing supply issues contribute to a complex landscape for renters and landlords. Efforts to increase affordable housing may be hindered by additional costs in certain regions. Continue to full article