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California Association of Realtors - Market Minute Update 9/4/21

September 3, 2021 With delta variant cases continuing to rise throughout the U.S., the negative economic effect of the COVID re-emergence has become more obvious in the past couple weeks. Consumer confidence in the latest report dipped to the lowest level since February, while jobs growth slowed sharply in August. The speed bump for the economic recovery, however, is good ne...

Will rates go down in September 2021??? Good news for Home Buyers

Tim Lucas The Mortgage Reports Editor September 10, 2021 - 14 min read   Mortgage rate forecast for next week (September 12-18, 2021) Despite Thursday’s report from the Labor Department, citing unemployment claims dropping to a new pandemic low, it looks like low mortgage rates should remain in place for the remainder of the summer. Thursday’s jobs repo...

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Gov. Newsom signs SB 9, curbing single-family zoning in California!!!

By MARISA KENDALL | | PUBLISHED: September 16, 2021 at 8:36 p.m. | UPDATED: September 16, 2021 at 8:51 p.m. In one of his first actions after surviving an election seeking to oust him from office, Gov. Gavin Newsom on Thursday essentially abolished single-family zoning in California — and green-lighted a series of bills intended to bolster the state&rsq...

9 Home Renovations Proven to Skyrocket the Value of Your Home

 August 5, 2021August 5, 2021  Jené Hernandez and Mehrnaz Baranriz Everyone wants to sell their home for top dollar, right? Well sometimes, the best way to increase the value of your home is to put in a little work and a little investment to make your property really shine. Whether it’s curb appeal or updating the finishes to your home, these are the 9 h...

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The Death of Single-Family Zoning: Senate Bill 9 (SB-9)

 September 27, 2021 by  Tim Burke  On September 16, 2021, Governor Gavin Newsom signed Senate Bill 9 (SB 9), also known as the California Housing Opportunity and More Efficiency (HOME) Act. The passage of SB 9 will forever change single-family zoning in the state of California. The bill was created with the purpose to increase housing in the state. SB 9 allows homeow...

Fannie, Freddie loan limits set for record 50-year leap in 2022

BY MATT CARTER October 05, 2021 The surge in home prices during the pandemic could fuel the biggest dollar increase in the conforming loan limit for Fannie Mae and Freddie Mac in records dating to 1970. An increase in the conforming loan limit means more homebuyers will be able to apply for conforming mortgages instead of “jumbo” loans, which are typically harder to ...

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What to Know About the HOA Balcony Law (SB 326)

FEBRUARY 08, 2021  https://www.apsmanagement.com/blog/what-to-know-about-the-hoa-balcony-law-sb-326/ On August 30, 2019, the Governor of California approved Senate Bill No. 326, which amends Civil Code Section 5551. Also known as the Balcony Law, SB 326 essentially protects property owners from building defects, and helps keep residents safe from hazards due to construction flaws.&nb...

Zillow, facing big losses, quits flipping houses and will lay off a quarter of its staff

Nov. 2, 2021  Daily Business Briefing By Stephen Gandel https://www.nytimes.com/live/2021/11/02/business/news-business-stock-market#zillow-q3-earnings-home-flipping-ibuying Zillow, the real estate website known for estimating house values, said on Tuesday that it would exit the business of rapidly buying and selling houses amid heavy losses and that it planned to let go ab...

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How Is Real Estate Looking For LA Going Into 2022??

10 housing questions Southern California must answer in 2022 Cash buying’s hot — 30% of IE sales, up 65%; 29% of LA-OC buying, up 64%. By JONATHAN LANSNER | jlansner@scng.com | Orange County Register PUBLISHED: December 30, 2021 at 8:42 a.m. | UPDATED: January 1, 2022 at 3:46 p.m. Forecasting Southern California’s housing market i...

These Are The People Who Should Be Buying A Home!

The ideal home buyer in the Los Angeles real estate market today can vary depending on their specific needs and preferences. Los Angeles is a diverse and sprawling metropolitan area with a wide range of neighborhoods and property types, so the ideal buyer can differ significantly from one part of the city to another. However, here are some general characteristics that might define an ideal home...