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LA Orders Landlords To Pay Moving Costs on Unusually Large Rent Hikes

The city of Los Angeles is requiring residential landlords to pay relocation fees if they impose double-digit rent hikes, an increase that's unusually large for the market. The Los Angeles city council passed an ordinance this week making landlords pay a tenant three times the fair market rent for relocation help, plus $1,411 in moving costs, if a multifamily owner raises the rent by mor...

Pending Home Sales Improved for Second Straight Month, Up 8.1% in January

WASHINGTON (February 27, 2023) – Pending home sales improved in January for the second consecutive month, according to the National Association of REALTORS®. All four U.S. regions posted monthly gains but saw year-over-year drops in transactions. The Pending Home Sales Index (PHSI)* — a forward-looking indicator of home sales based on contract signings — improved 8...

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8 Reasons Why We Won’t See Home Prices Dropping Anytime Soon

If you’re looking forward to home prices dropping in the near future, you may want to read this. Our CEO, founder, and principal broker Harout Keuroghlian recently made clear his belief that we’re not going to be seeing home prices reduced by much, if any, in the foreseeable future. And when Harout has a “belief”, you can count on it being more of an educated guess. His ...

Absorption Rate Analysis: March 2023 – All Neighborhoods Move Deeper Into Seller’s Territory for the First Time

By now, 8 months into publicly releasing our absorption rate data, we’ve become pretty accustomed to the Greater Los Angeles area favoring the seller. But this is the first time we’ve seen every neighborhood we monitor move deeper into a seller’s market. So, if you’ve been thinking about selling your home, now might be a great time to stop thinking and start&nb...

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The Housing Market is NOT Going to Crash – Here Are 9 Reasons Why

Have you seen the news? Wall-to-wall headlines about the big housing market crash headed your way. You’d think it was a confirmed fact! As the CEO and founder of my own real estate brokerage, and an expert who’s been successfully working in the real estate industry for decades, I have news for you.  There will be no housing market crash. I realize that’s a bold...

Construction costs poised to rise up to 6% in 2024

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...

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L.A. Supervisors Vote 3-2 to Reduce Allowed Increases to 60% of CPI

On Tuesday, June 4th, the Los Angeles County Board of Supervisors voted 3-2 (Supervisors Barger and Hahn in opposition) to destroy the rental housing in the unincorporated areas of the County by instructing staff to return with an amendment for final approval that will drastically lower the allowable rent increase formula to a mere 60% of the Consumer Price Index (CPI) with a 3% maximum ca...

Understanding Prop 19 and Its Benefits for California Property Owners

Understanding Prop 19 and Its Benefits for California Property Owners Proposition 19, passed by California voters in November 2020, brought significant changes to property tax regulations, impacting millions of property owners across the state. The proposition aimed to address two main areas: the transfer of property tax benefits and property inheritance rules. Let's dive into the key el...

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Anaheim ranks as most expensive SoCal market for “starter” homes

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...

Here’s Why JohnHart Real Estate is a Hard “No” on California Rent Control Measure Proposition 33

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...