Home prices in California reached a new record high in April as sales increased despite elevated mortgage rates and the state’s seemingly insurmountable housing shortage. The median price of a single-family home climbed to $904,210 last month, nearly 6% higher than March and 11% above April 2023, according to data released on Friday by the […]
WEST HOLLYWOOD, Calif. (KABC) — If you thought California housing prices couldn’t get any higher, a recently sold condo’s price tag might surprise you. According to californialistings.com, a West Hollywood penthouse condo just sold for a record-breaking $24 million, making it the highest paid condo complex in the greater Los Angeles area. While the condo […]
Launching La Rosa’s multi-level revenue share plan in California intended to empower realtors with a unique income stream Ninth franchisee that has been acquired since IPO Reaffirms target to generate $100 million of annualized revenue as a 2024 exit run rate Celebration, FL, March 20, 2024 (GLOBE NEWSWIRE) — La Rosa Holdings Corp. (NASDAQ: LRHC) (“La […]
So long, 6% commission. For decades, real estate commissions have been somewhat standardized, with most home sellers paying 5% to 6% commission to cover both the listing agent and the buyer’s agent. On Friday, everything changed. A landmark agreement from the National Assn. of Realtors paved the way for a new set of rules that […]
Current real estate market conditions Toni Carter, the President of the Southwest Los Angeles Association of Realtors, breaks down the housing market shift. The National Association of Realtors (NAR) has announced a groundbreaking court settlement that will revolutionize the landscape of home sales in the United States. In a move expected to bring significant savings […]
The National Assn. of Realtors on Friday said it will make changes to its commission rules to settle national allegations the requirements stifled competition, a move that may reduce costs for consumers. The settlement, which still must receive court approval, could mark a major change in the housing market. Today, sellers typically pay a 5% […]
CHICAGO (WLS) — New questions are being raised on Monday night about the controversial ballot referendum to help combat homelessness in Chicago. And voters might learn a lesson from Los Angeles, where a similar referendum that passed in 2022 has had some unintended consequences. Just like in Chicago, the Los Angeles referendum was dubbed the […]
New mortgage rules in effect for first-time homebuyers The new rules went into effect May 1, 2023. LOS ANGELES – Prospective homebuyers looking for a good deal – we’ve got some good news for you! Although home prices rose nationally 0.3% year over year in February to a median of $415,000, according to Realtor.com data, […]
New mortgage rules in effect for first-time homebuyers The new rules went into effect May 1, 2023. LOS ANGELES – Prospective homebuyers looking for a good deal – we’ve got some good news for you! Although home prices rose nationally 0.3% year over year in February to a median of $415,000, according to Realtor.com data, […]
Southern California’s real estate market is as cold as the snow currently adorning the peaks of its mountains. Interest rates are up. Inventory is down. And deals are few and far between. In slow markets, the agents at the top — those with experience, connections and plenty of clients — typically maintain a modest but […]
As is often the case, good news for homeowners in California is not encouraging for those shopping for a new place to live. According to new data from the National Association of Realtors, two California cities were among the top ten metro areas with the largest year-over-year median home price increases through the fourth quarter […]
Have a home to sell in the Los Angeles area? Good news: Real estate prices here are high and rising, according to recent sales data, so you’re sitting on a valuable asset. However, the pace of sales is slowing, and high mortgage interest rates are keeping many potential buyers on the sidelines. Is it possible […]
In summary The term “unsubsidized 100% affordable project” was once an oxymoron. Under Mayor Karen Bass, Los Angeles is now approving them by the hundreds. The seven-story apartment building planned for West Court Street on the south side of Los Angeles’s Echo Park neighborhood doesn’t make sense, not if you know anything about affordable housing […]
Equity, before it took on its current “woke” definition, meant value, as in the accumulated value of ownership in real estate. It still means that. After 30 years of payments for housing, a tenant who pays rent has nothing. An owner who pays off a mortgage loan has equity. The accumulated value of that equity […]
