While you’ll never get just one answer to that question, here’s one more possibility. All booms come to an end eventually. There is an undeniable link between home sales volume and pricing. Typically, when more homes sell, prices rise 12 months later. When fewer homes sell, prices fall back 12 months after. The currently unsustainable, […]
Year over year sales for condos and townhomes (legally defined as condos) in the Los Angeles metro area fell 24% from December of 2017 to December of 2018. We expect SFR sales volume to be very similar. While 2018 launched with high sales figures and the accompanying bidding wars, the year tapered off quickly after […]
Home improvement website Porch.com wanted to know what influences the decisions of first-time homebuyers, what causes them to fall into “love at first sight” with a home. So they conducted a survey, which had about 1000 respondents. The survey consisted of a list of various factors and asked respondents to rate how much that factor […]
As of September 2018, median home prices are up 5.6% year-over-year. The more relevant figure, though, may be mortgage payments. The “typical mortgage payment” is a measure adjusted for median home prices, so if people are paying similar percentages, the value shouldn’t change much even if prices increase. In reality, this measure is up 16.4% […]
Macro-economics is a volatile field. Any little thing can take a wrong turn and move the world economy in ways no one has predicted. These days we are truly talking about a world economy, too. When a beggar lights himself on fire in Bangladesh, our stock market takes notice. But, we keep trying to make […]
Effective July 1, 2019, procedures for postponing property taxes for some owners will be established by a new law. The Senior Citizens Manufactured Home Property Tax Postponement Law replaces a law which only affected mobile homes, and now includes all manufactured homes. Homeowners must meet the following criteria to qualify:1. blind, disabled, or over 622. […]
The Los Angeles area is one of only 17 so-called “ultra-prime” residential markets worldwide. This means that during each of the prior three years, at least three homes per year sold for over $25 million. The latest report from global real estate brokerage Knight Frank goes through August 2018, and the total for the LA […]
A three-structure complex known as Flyte El Segundo, near the I-105 Freeway, is undergoing renovations totalling about $40 million. The complex is owned by Swift Real Estate Partners and contains over 580,000 square feet of leasable area. Some offices are currently leased during the renovations. Others will be available as soon as sometime this month, […]
German property design, construction, & management company Medici Living is looking to be a leader in the growing field of co-living. In order to achieve that, they’ve partnered with another German company, Corestate, to raise $1.1B of capital for housing for up to 6000 people throughout Europe. Medici also has plans to expand their business […]
The California Homeowner Bill of Rights of 2012 expired at the beginning of 2018. With 2019, though, comes a new beginning. Effective January 1, 2019 — the date of this blog post’s publication — many of the protections granted by the 2012 law will be reinstated. A notice of default (NOD) may not be recorded […]