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I get comments on my blog posts all the time. The strange world of social media and the internet seem to find a way to bring us together, good and bad. I am constantly surprised everyday on how my posts can inspire the best and the worst out of people. All I can do is be thankful people are reading and try to respond as professionally as possible. As the blog has matured, I am happy to report that the comments and responses have gotten more and more positive. Just over the past two weeks is a sampling of readers that made my day: Email: “Really good article. Well thought out, well communicated, excellent and balanced
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The South Bay is unquestionably huge. Depending on how you calculate the boundaries of the South Bay, it is over 100 square miles with a population of over one million people. How do I determine a South Bay city or neighborhood? If the Daily Breeze covers it, then that is enough to be included in the South Bay. Many of you know the focus of the blog is normally Palos Verdes, Redondo Beach, Hermosa Beach, and Manhattan Beach. For some readers, the blog’s market coverage is too narrow, and for others, it is too wide. For me as a writer and real estate broker, focusing on these four cities is what I can handle without stretching
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Rent control is now a reality for the residents of California as the recent passing of AB 1482 has become the hottest topic in real estate. If you missed last week’s blog post,”The South Bay Real Estate Market is Now Rent-Controlled,” be sure to check it out here for some of the main points. If you would like a deeper dive into the nitty gritty of AB 1482, take a look at the full bill here. So, after a weekend to review and gather my thoughts on how this new law will affect landlords and tenants, I now present to you my unscientific thoughts on how things will shake out. For those of you that know
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It is not 100% official, but California Assembly Bill 1482, which will create statewide rent control throughout California, has been approved by the State Senate and Legislature. Governor Gavin Newsome has pledged he will sign the bill, making the new rent control law effective throughout California in a matter of days. This new law is a resounding victory for tenant advocates and a disappointing loss to landlords. As a result, the South Bay real estate market is now rent-controlled. This is a new way of life for the local real estate community and it will take time for all to adjust to the new laws. Since this is massive breaking news for California real estate, I
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Semi-annually I like to touch on the perpetually hot topic in residential real estate – interest rates. Past Blog Post and Conclusions The last time I wrote a blog post on interest rates was back in March titled “California Interest Rates are Rising – Should You Buy Now?” I highly encourage you to read that last post because it debunks the myth that when interest rates go up, prices go down. And, vice versa. Essentially, per the data, interest rate movement does not dictate whether we go up or down in price. They are a potential contributor to a multitude of factors, but you can never “bet the house” on interest rate moves correlating directly with
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I recently received a lot of feedback on last week’s blog post titled “Why I am Selling My South Bay Residential Income Property.” There was some good feedback and a lot of great comments. Below are a few examples of questions and comments I received: “If you own at such a low basis, your returns are much higher…so why the heck would you sell?” “I only want to invest in real estate and have been sitting in cash for two years. Thanks for the post and I will continue to wait.” “What are you going to buy with the proceeds that justify taking such a big tax hit?” All of these comments and questions are excellent
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With the amazing price growth in Southern California real estate, I have clients lined up who are ready to buy their first income property and clients who want to continue adding to their portfolio. I know a lot of great agents that would scour the market for the best deal and be glad to sell someone an income property right away. For me and my clients, I suggest that they wait. In my opinion, there will be a better time to buy an income property down the road. As a full-time real estate broker and investor myself, I want to share my reasoning with everyone in this latest post. The Market Feels Stretched As many of
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For the last few years, I have taken great pride in writing a South Bay real estate blog post each and every week. I have made it a priority to post during the busiest times for our company while serving our clients, posting over the holiday season, and yes, even posting over my wedding/honeymoon month (I pre-wrote those blogs). This week, I am throwing in the towel and giving myself the grace of missing one post for the first time in a very long time. On July 9th, Nicole and I welcomed in our first child, baby boy March Haynes. We have never known a love like this until March entered our world. March’s birth has
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The old Realtor adage “Interest rates are rising – go out and buy now!” is oftentimes a misguided statement for most buyers. For this week’s blog post, I want to address this proclamation and why more often than not, it is not accurate. Everyone’s financial goals are different and interest rates should never be the one driver behind buying a home. Interest Rate Realtor Claims Take a look at this chart below that has been flying around social media: Source: The Romanski Group I have seen variations of this chart posted over the years. Whoever created this graphic was very smart to target specific buyers in order to sell more real estate. That said, buyers need
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Bruce Norris is generally regarded as one of the best California residential real estate forecasters. Not only is he self-taught in real estate economics and data, but he is also a real estate investor himself. He is a great source because he depends on his own predictions to correctly make decisions for his business. For further background, check out a previous blog post I wrote on Bruce Norris predictions here. Bruce Norris Event This last weekend I attended Bruce’s event, “California Real Estate: On Borrowed Time” in Riverside. Upon arrival we received a 250-page book with hundreds of different charts, illustrating that he really does his homework. These charts provided data on various topics such as
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