IET Real Estate Los Angeles Blog

The Los Angeles housing market has been booming despite the pandemic, but now that coronavirus cases are surging in the area, you might be wary about moving right now. Although LA County is under lockdown, you're still allowed to tour houses for sale provided that everyone adheres to some precautions set in place by the government. However, once the sale has been made and it's time to move, it's up to you to know how to do so safely. 

Should you risk missing out on this seller's market or stay put for several more months? We can't tell you what's right for you and your family, but we can give you some tips on how to maintain your safety and sanity while moving during Los Angeles's coronavirus spike. 

Plan Ahead and Start Early

Planning ahead

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Due to COVID-19, refinance eligibility rules for homeowners with a loan forbearance have temporarily changed for government-backed mortgages. To alleviate some of the confusion, Fannie Mae and Freddie Mac released an FAQ section on their website, that will be updated as new information becomes available. To learn more about eligibility and options, check out this blog from IET Capital.

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This New Year's Eve in Los Angeles, there will be no swanky parties to attend or fancy restaurant reservations to get dressed up for. Even though the holiday looks very different in 2020, that doesn't mean you shouldn't find a way to celebrate in whatever small way you can. Getting some indulgent take-out always makes an evening a little more fun, so consider ordering from one of our favorite Los Angeles restaurants on the east side that are open on New Year's Eve. 

Little Dom's 

This year, the Los Feliz neighborhood institution is open with specials for NYE and New Year's Day.  On NYE, choose from dishes like lobster spaghettoni or short rib with saffron risotto. On New Year's Day, they're offering a dish with black-eyed peas and collard

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I wanted to take a moment to wish you and your family a happy and healthy holiday season.

Luckily, 2020 is almost over, and though it’s been a difficult year for everyone, the LA real estate market has continued to thrive. So if you’re considering a move in 2021, don’t hesitate to reach out and we can discuss any concerns you have over buying or selling a home during the pandemic. You can also email us or gives us a call at (323) 412-9060. 

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Built in 1911, this 5BR/2BA hasn't been updated or maintained in several years, making it a fantastic investor opportunity. Located on a nice street in Mid-Wilshire, the area is extremely walkable. Plus, with the backyard space and close proximity to LAUSD schools, this could be the perfect home for a young family once it's gotten a makeover.

If you're interested in this fixer-upper, check out our listing for more information and to schedule a showing.

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On December 2nd, Los Angeles Mayor Eric Garcetti announced that we would be returning to a "safer-at-home" order, similar to the order that was enacted at the beginning of the pandemic in March. The basic rule being Los Angelinos must stay in their homes unless they're doing something "essential." During that time, in-person property showings were suspended for a couple of months, and these appointments went virtual. Now that we're under a stricter lock-down than we've had since the summer, are private, in-person property showings in Los Angeles banned?

Despite the name of this lockdown order being the same as the strictest mandate we've had so far, this one is more lenient and includes many contradictions: you're not allowed to spend time with

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The long-awaited East Hollywood Target has finally opened and just in time for holiday shopping. But, as convenient as it may be, it’s more important than ever to spend your money at small businesses as you shop for gifts. 

With little coronavirus relief money from the government to go around, many of these mom and pop shops are at risk of closing. Target might have everything you need in one place, but these local retail stores are what gives a community character. So before you make your gift list, consider supporting some of these East Hollywood area small business retailers. 

1. Spitfire Girl

1939-1/2 Hillhurst Ave. 

No matter your budget, you can knock out most of your holiday shopping at Spitfire Girl which has something for

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On November 2nd, everybody knew that as it always does, California would vote Blue––what wasn't certain was how they'd decide on several propositions that were on the 2020 ballot. Props 15 & 21 were two issues that would have a major effect on the real estate industry in Los Angeles. What was the outcome and how will that affect you? Read on to find out.

Prop 15: NO

What is Prop 15? To put it simply, a "yes" on Prop 15 would loosen commercial and industrial property tax limits.

In 1978, Proposition 13 was passed which stipulated that commercial properties pay taxes on the value of a space when it was first purchased. It limits the tax rate to 1% of that value amount, and the assessed value cannot increase more than 2% each year.

As you can

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This luxurious, 4br/3ba Spanish style home feels like your own private oasis in the hills of Sylmar. Tucked inside The Summit gated community with 24-hour security, you can enjoy the unobstructed views of the mountains in total peace and quiet. 

FEATURES:

  • 3 massive entertainment living rooms

  • Beautiful crystal twin chandeliers with dimmable lights

  • Calacatta marble floor-to-ceiling fireplace

  • Built-in Jenn-Air appliances in the kitchen

  • Recessed dimmable lights throughout the house

  • No-scratch, durable waterproof tile flooring on the second floor

  • No carpeting anywhere (just easy to clean tiles––great for pet owners!)

  • Spanish fountain, gazebo, and
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As a part of the coronavirus relief bill the CARES Act, businesses were given the opportunity to apply for Paycheck Protection Program (PPP) loans to offset the costs of operation. Business owners could use these loans to cover employee payroll, as well as mortgage interest, rent, and utilities. Over 5 million PPP loans were issued to small business owners, and now, they can apply for loan forgiveness before it's time to start paying it back. 

To be eligible for PPP loan forgiveness, the original loan amount must be for $50,000 or less. That means 3.57 million of those 5 million PPP loans are eligible for forgiveness according to the Journal of Accountancy. Other eligibility requirements include having spent 60% or more of the loan on paying

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