If you’re involved in real estate or considering investing, you may have heard about a 1031 exchange. But what exactly is it, and why is it useful? Let’s break it down in plain terms. What Is a 1031 Exchange? A 1031 exchange, named after Section 1031 of the Internal Revenue Code, allows you to sell an investment property and defer paying capital gains taxes on the sale, as lon...
Last week, I was talking with another apartment owner about rent hikes for 2025, and I was surprised to learn that even experienced investors are unclear on what’s allowed in Los Angeles City versus Los Angeles County. So, I’ve broken it down below to help clear up any confusion and give you the info you need to plan for next year with confidence. Rent Increase Limits If you r...
Last week, I was talking with another apartment owner about rent hikes for 2025, and I was surprised to learn that even experienced investors are unclear on what’s allowed in Los Angeles City versus Los Angeles County. So, I’ve broken it down below to help clear up any confusion and give you the info you need to plan for next year with confidence. Rent Increase Limits If you r...
We want to make it abundantly clear. JohnHart Real Estate is a hard “no” on California rent control measure Proposition 33. If you missed our CEO and principal broker’s powerful message on this decision, allow this blog to elaborate on why we so passionately oppose this deceptive measure. Photo credit: Envato Currently, several cities a...
Prospective buyers in Anaheim looking to get a “starter home” with a 30-year mortgage at current rates need at least $251,000 in annual household income, the most of any city in Southern California. The data from Redfin shows Anaheim as third-highest in the nation for income requirements, the San Jose Mercury News reports. California dominated the upper ranks of the...
Entering the world of commercial real estate as an agent can be both exciting and rewarding. Whether you're just starting out or looking to enhance your career, here are 15 simple steps to guide you towards success in commercial real estate: 1. Understand the Basics: Begin by learning the fundamentals of commercial real estate. Know the different types of properties like offices, retail ...
After experiencing losses late last year, average asking rents in greater Los Angeles are on the rise. In 2023, average daily asking rents in Los Angeles bottomed out in December at $2.86 per square foot each month. Since then, upward momentum has been sustained, with average daily asking rents up around 1% from the recent low, reaching just above $2.88 per square foot each month. Rent movem...
Today, February 20, 2024 Building costs will rise between 3% and 6% throughout 2024, depending on the market, according to data released Tuesday by cost management firm Currie and Brown. Builders should plan for construction costs to increase throughout 2024 due to a variety of factors, according to a new study released Tuesday by cost management firm Currie and Brown...
Singapore and Zurich pushed New York from its perch as the world's most expensive place to reside as costs rose at a slower pace in the most populous U.S. city, according to a survey from a division of the Economist Group. In tying with Zurich for the top spot this year, Singapore has led the list published in the Economist Intelligence Unit's Worldwide Cost of Living report for nine...
Less competition doesn’t make the current housing market any less challenging. Just ask the agents who battled through a vicious third quarter to claw their way onto our Top 25 Agents list. This year has turned a lot of agents away from the industry, from rookies feeling in over their heads to seasoned agents tempted into early retirement. Then, there are those agents who still see their ...