In urgent need of housing after the Los Angeles wildfires, displaced residents are facing a rental market flooded with unlawful price hikes. The California Association of REALTORS® (C.A.R.) has noted alarming increases in rental prices—some by 25% or more. 

Under California Penal Code Section 396, price gouging is strictly prohibited. Landlords cannot increase the price of rental housing by more than 10% after a State of Emergency is declared. For properties newly advertised or not leased before the emergency, the rent cannot exceed 160% of the fair market value established by the U.S. Department of Housing and Urban Development.

For daily rentals like Airbnb, the increase is similarly capped at 10% post-emergency. If housing was rented on a…

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In September, the Federal Reserve made its first interest rate cut in four years. It was bigger than expected–– half a percentage point. After their next policy meeting on November 7th, the Fed will announce if they will make another cut, and if so, by how much. Economists are busy making their predictions as to what they will decide, and one way they form their opinion is by tracking the dot plot released by the Fed every quarter. 

Hoping to buy a new home or refinance? The Fed's decision will likely impact the cost of your mortgage. If you want to better understand how the Fed's interest rate decisions affect the housing industry, a good place to start is learning how to read the dot plot. 

Understanding the Dot Plot

Every quarter, the…

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Is Affordability Starting To Improve?




Over the past couple of years, a lot of people have had a hard time buying a home. And while affordability is still tight, there are signs it's getting a little better and might keep improving throughout the rest of the year. Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), says:

“Housing affordability is improving ever so modestly, but it is moving in the right direction.”

Here’s a look at the latest data on the three biggest factors affecting home affordability: mortgage rates, home prices, and wages. 

1. Mortgage Rates

Mortgage rates have been volatile this year, bouncing around from the mid-6% to low 7% range. But there's some good news. Data from Freddie Mac shows…

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Just Sold: Triplex in Prime Eagle Rock

A long-time client and friend recently decided to redirect their equity from their income property located in prime Eagle Rock. I felt both honored and privileged to be chosen to guide them through this process, helping them achieve their goal of pursuing a new course of action with their equity.

????The new triplex owner, a US immigrant working in construction, spent decades renting and saving to buy their first home—and they finally did it! Felicidades, Catracho! #AmericanDream

The support of the buyer’s agent made this closing possible. A truly caring and professional person, Lisa Detamore was dedicated to helping her client.  I have to extend a big thanks to her and the hardworking loan officer, Juan…

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I'm thrilled to announce the closing of this East Hollywood jewel box!

When my client relocated, she had to decide what to do with her house: she could rent it out, forcing her to travel over an hour to handle management duties, or sell it and reposition the equity into another investment that would yield twice the estimated net rent, plus no management responsibilities or liabilities...

It was a no-brainer!

I was honored that she chose me to guide her in this repositioning process.  We faced a few hurdles along the way, but in the spirit of the Olympics, we sailed over them without breaking stride.

Working with @the_nikki_miller was a privilege. A total pro, she and her impressive lender @kellyzitlowgroup made closing effortless—you know LO is a baller…

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Some Highlights

  • The asking price for your house can impact your bottom line and how quickly it sells.
  • Both under- and overpricing have drawbacks. So to find the right price for your house, lean on your agent for their expertise.
  • Don’t pick just any price for your listing. Trust your real estate professional to help you find the perfect price for your house.

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Not a Crash: 3 Graphs That Show How Today’s Inventory Differs from 2008




Even if you didn't own a home at the time, you probably remember the housing crisis in 2008. That crash impacted the lives of countless people, and many now live with the worry that something like that could happen again. But rest easy, because things are different than they were back then. As Business Insider says:

“Though many Americans believe the housing market is at risk of crashing, the economists who study housing market conditions overwhelmingly do not expect a crash in 2024 or beyond.”

Here’s why experts are so confident. For the market (and home prices) to crash, there would have to be too many houses for sale, but the data doesn't show that’s happening. Right…

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OPEN HOUSE: Light-filled bungalow in convenient East Hollywood location

 

$725,000   |  2 B/1 Ba  |  960 sq ft

With private hedged outdoor space and covered parking, this turnkey 2br/1ba single-family home is a rare find, free from the constraints of a condo or TIC arrangements, and no HOA fees or association rules to worry about.

Owned and meticulously improved by a discerning creative, well schooled in the timeless "less is more" principle of design, this 960 sq ft home has undergone a thoughtful transformation over the past 5 years. Updates include glassed-in rain shower, oak vanity, & marble tiling in the bathroom, expanded closet with Elfa closet systems in the second bedroom, and a studio with split AC, hardwired for internet,…

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Prime Eagle Rock Triplex

2126, 2128, 2130 CHICKASAW AVENUE - $950,000

Open Houses

TUES. FEBRUARY 13TH, 11 AM - 2 PM // SAT. FEBRUARY 17TH, 2 PM - 4 PM

 KEY DETAILS:

1Br/1Ba’s on 4,968 sqft lot 

2 of 3 units delivered vacant at close of escrow, holdover tenant pays $930/mo 

Fenced-in yard with mature fruit trees 

Steps from Colorado Blvd. shops and restaurants

For more information on this great triplex in prime Eagle Rock, 
email or call Ben Nicolas at (310) 874-1278! 

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Meticulously Curated Craftsman in Harvard Heights

1716 South Hobart Blvd.

$9,995 a month

  • 3 Bed / 3 Bath
  • 2,868 soft
  • Fully furnished
  • 3-4 month lease

This spectacular home is the embodiment of the quintessential Los Angeles craftsman, yet the exquisite details throughout make 1716 S. Hobart a one-of-a-kind gem.  For 17 years, the home has been the personal canvas for a well-known design professional, and it’s clear that the finished work is a masterpiece that no ordinary investor or “flipper” has the talent or time to mimic. Built in 1905, the property has been preserved with deference to period aesthetics and modern utility. As soon as you step through the extra-wide original oak front door, you’ll discover…

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