It may seem intuitive to look at past recessions, such as the one in 2008, to predict the market during the current recession. But that doesn’t always work, since the circumstances surrounding the downturn may be different. In 2008, what caused home prices to drop was reduced buyer demand and increased foreclosures and short sales.… Continue reading Here’s why house prices are still high despite the recession
The CARES Act, signed into law in March, provides multiple benefits to those impacted by the COVID-19 pandemic, including a moratorium on most foreclosures. On August 24, real estate journal First Tuesday pondered what may happen beginning August 31, when the CARES Act was set to expire. However, it was announced August 27 that the… Continue reading Foreclosure moratorium extended through December
Under Proposition 13, a property’s assessed value doesn’t change very much from year to year, unless the home is sold, in which case its value may or may not be reassessed. But under what conditions is the value not reassessed? Here’s an explanation. Several types of transfers don’t trigger reassessment. This includes transfers between spouses… Continue reading Understanding property value reassessment
With their most recent update to home sales volume data for California, First Tuesday has the some of the numbers up to June of 2020. While parts of their analysis have not been updated, we do have data comparing month-to-month sales in June 2020 to both May of 2020 and June of 2019, as well… Continue reading Trends in home sales volume
The real estate journal First Tuesday asked readers in July how they felt the 2020 recession would impact for-sale inventory. The votes are now in. A plurality of respondents, 45%, felt inventory would go down. This would likely be a result of both anxiety from sellers and not enough construction. However, the number who instead… Continue reading Predictions for the 2020 recession’s impact on inventory
California is seeing a rise in heat waves. It’s important to know how to keep safe in extreme weather conditions. Here are some suggested precautions from Senator Steven Bradford. Avoid the sun– stay indoors from 10 a.m. to 3 p.m. when the burning rays are strongest. Drink plenty of fluids– 2 to 4 glasses of… Continue reading How to protect yourself from extreme heat
We’re all well aware that California has been facing a shortage of affordable housing. Affordable housing is also an important step in recovering from the current recession. So, why hasn’t it happened yet? There are a couple of reasons. It’s true that not enough homes are being built, but it’s more complicated than that. Not… Continue reading The obstacles to solving the housing shortage
As a result of COVID-19, restaurants are looking for ways to reduce the interaction between workers and customers. One solution? Robots. Robot chefs have been around for a while, but weren’t always successful. They’re now gaining more traction as restaurants see them as becoming a necessity. New plans include a burger-flipping robot named Flippy at… Continue reading Automation is coming to restaurants
This is more than a tuna salad. This is a meal in a tortilla, a salad on greens to linger over with wine, hors d’oeuvre on chips, or an ultra tasty wrap in a swirl of your favorite cheese!
Of course, no one who was laid off during the lockdowns was happy to lose their job. But at least initially, the expectation for most was that they would be returning to their job once the lockdown was over. In most cases, that hasn’t happened, both because COVID-19 has not yet been contained and because… Continue reading Many lockdown layoffs may be more permanent than temporary
This is not intended to be an exhaustive list of 55+ housing choices, but a reference point for the more commonly known, age-restricted accommodations available in the Los Angeles South Bay. We welcome your input, but cannot guarantee inclusion. Condominiums Breakwater Village, 2750 Artesia Blvd, Redondo Beach, CA 90278Courtyard Villas Estates, 3970 Sepulveda Blvd, Torrance,… Continue reading 55+ Options in South Bay
Like any living situation, co-living has its pros and cons. An article from the July/August 2020 edition of NAR’s senior newsletter can help you understand what they are. NAR outlines the advantages and potential disadvantages as well as how to mitigate them. First, the advantages. Sharing responsibilities in the home is sure to decrease the… Continue reading Advantages and Disadvantages of Co-living
We monitor local South Bay real estate activity daily. The data is charted to show the direction of the market in terms of tendency to favor Sellers versus Buyers. Ideal market conditions are in the the center band where both have roughly equal market strength. As you can see, South Bay activity was right down… Continue reading Recent South Redondo Sales
If you’re worried about listing your home during the pandemic, or if you want to take advantage of the increased inventory and buy a new home, there is a protocol for doing so safely, even in heavily impacted areas of California. You should discuss with your agent the things that can be done to curb… Continue reading How To Safely List Your Home During COVID-19
It’s no secret that California has exorbitantly high home and rental prices as well as increasing homelessness. What may be less obvious is that the issue lies in housing construction. There simply aren’t enough affordable units being built. That’s why California’s Department of Housing and Community Development (DHCD) has established ambitious housing goals for the… Continue reading California gets serious on housing shortage
Co-living and co-housing are two types of housing arrangements that may be confused. Both are types of “intentional communities” — that is, communities in which the residents share some or all of the space. There are important distinctions in how that space is shared, though, outlined in July/August 2020 edition of NAR’s SRES newsletter. In… Continue reading Co-Living vs Co-Housing: What’s the difference?