IET Real Estate Los Angeles Blog

Prior to the pandemic, many small businesses in Los Angeles were struggling under the weight of soaring rent prices in the city. Now, entrepreneurs are being crushed by lockdowns with little hope that the federal government will swoop in to offer some relief, forcing them to figure things out for themselves. 

One option for micro-entrepreneurs, small businesses, or non-profits in the area is to apply for a grant through the LA Regional COVID-19 Recovery Fund. The fund has 3 million dollars available to disperse in $5,000 to $15,000 increments. Unlike the federal PPP loan program that "small" businesses (like, ahem, Sweetgreen and Shake Shack?) could apply for, the selection process for this grant will be through an equitable, weighted lottery

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If you're looking to move to what feels like a quaint little neighborhood in the middle of Los Angeles, Larchmont Village is the place to go. It's the perfect part of town for a young family who wants to be close to the action but still have a little peace and quiet. When we're not in the middle of a pandemic, it's the ideal place to take a stroll on Sunday morning with your kids in tow. Though brunch followed by a little leisurely window shopping isn't as simple to do as it once was, Larchmont Village is still an idyllic part of the city to live.

When restrictions do lift again, you'll be glad that you moved here and that all the things to see and experience are just outside waiting for you. In the meantime, they still have plenty to experience! 

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For the last two years, Los Angeles County has been tightening regulations for Airbnb and other short term rental (STR) hosts. But despite implementing stricter rules on what kind of properties could be put on these sites, Los Angeles still had the most Airbnb units in the country at the end of 2019.  

Once the pandemic began this year and travel bans were enacted, the short term rental industry came to a screeching halt. Here we are about five months later, and people are looking to go on vacation again, meaning STR reservations are picking back up. However, it might not be business as usual for some Los Angeles hosts, as Airbnb announced this week that there will be a new compliance system in place to help enforce LA home sharing laws. 

Airbnb

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Were you about to put your house on the market just before the pandemic began? Like so many other expectations people had for 2020, coronavirus surely threw a wrench into those plans. 

These crazy few months have also made people rethink how they're living their lives. Maybe you're realizing that in these uncertain times you want to leave the city and move closer to your extended family so you and your kids can see them more regularly. It's at least a common thought many are having considering online home listing views have shown that there's a renewed interest in migrating to the suburbs.

No matter your reason for wanting to sell, you've probably held off because you're afraid that you won't be able to make a return on your investment. During

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As states begin the slow process of reopening, there remains plenty of uncertainty about how to approach the process of buying and selling homes. 

After all, the coronavirus has impacted every industry in the U.S., and that includes the real estate industry. This is why many homebuyers have wondered whether it’s even possible to still close on a house during the coronavirus pandemic.  

The good news is that you absolutely can—you just need to be a bit more flexible and prepared than perhaps you would be during normal times. 

Here’s what you need to know.

You’ll want to get a coronavirus addendum in your contract

One of the most critical home buyer precautions to take if you’re closing on a house during the pandemic is the need to

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Since the COVID-19 pandemic, over 1 million people in Los Angeles Country have filed for unemployment. With the economy taking a hit that will likely require years to recover from, it seems like the natural effect would be that housing prices begin to drop. After all, during the 2008 recession, the median price of a home reached a 30 year low. 

But while LA and the country at large have seen a big dip in home sales, the prices have stayed the same. The median listing price of a Los Angeles single-family residence has actually gone up 3% since last month. How could this be?

2008 vs. 2020: Supply and Demand 

Housing prices reflect the balance of supply and demand. Just before the economic collapse in 2008, predatory mortgage lending drove up

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As stressful as this time is for everyone, quarantine has allowed for some extra opportunities inside to play catch-up: on reading, hobbies, or maybe to finally finish those last few seasons of The Wire... For me, I've been using this time to increase my skillset and ability to competently serve my client base. 

I was recently presented with this certificate after completing the Accredited Buyer's Representative Designation Course, and will soon be completing two other courses for certification. 

 

If you're looking to buy or sell a property, you should find a real estate agent that is constantly working to level up their knowledge and skillset because this is an ever-evolving industry, especially now. Contact me today to learn how we can save

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Here are the latest statistics from the East Hollywood neighborhood real estate market. Check back to our blog often to find market reports from other neighborhoods in the Los Angeles area. 

  • The Majority of Single Family Residences in this area are sold as tear-downs for land value to developers to turn into multi-family apartments.
  • There were no active condo or townhomes for sale in East Hollywood as of May 11th, 2020. The Cha Cha Cha development in Virgil Village has completely sold out with the last unit in escrow as of May 5th, 2020, per listing agent Joy Bolger of Compass.
  • Long Term Rental Activity numbers only reflect MLS activity, many rentals are listed and leased without using the MLS via yard signs, Zillow Rental Manager,
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The economic shutdown due to COVID-19 has caused a lot of devastation and confusion in the real estate and mortgage industries. There's a lot of conflicting information out there, and it can be difficult to find the answers you desperately need.

That's why we created this Los Angeles Real Estate COVID-19 Resource Page for property owners, property managers, and renters in the area. 

Of course, these resource links won't have all the answers you're looking for because everyone's situation is different, especially now. So if you have any real estate or mortgage questions, we'd be happy to set up a phone call or Zoom meeting to discuss any issues that have come up due to the economic shutdown. 

It's important that people come together during

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Practicing social isolation is the most important thing we as a nation can do to "flatten the curve" and minimize the impact of COVID-19. Luckily, in the age of Netflix, there’s no shortage of things to watch while you’re housebound. 

But if we’re going to be stuck inside for a while, and it’s becoming likely that we will, we’re going to need more than just TV to get us through this. If you need some help thinking of ways to entertain yourself and your loved ones during social isolation, here are 10 ideas. 

1. Write Cards and Letters to the Elderly

This is a scary time for everyone, but no doubt it’s even more so for the elderly. They need love and comfort more than ever right now.

Making cards to send to nursing homes is a great

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