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Important Real Estate News Good News: Forbearance Grows but Flattening Mortgage forbearance plans continues to grow according to the Mortgage Bankers Association. There were about 4.1 million mortgages in forbearance between May 4 and May, 10 which is around 8.16% of all loans outstanding. It is still growing, but if we can “flatten the curve” here and put an end to homeowners not being able to make payments, that is very positive news. Good News: Rent Collections According to the National Multifamily Housing Council’s Rent Payment Tracker, 87.7% of apartment households made a full or partial payment by May. That is an improvement from the April 13th numbers, where the number stood at 85%. According to
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The new year is just beginning, and the early trends of 2020 will start to reveal themselves in the next couple of weeks. This week I wanted to give a broad-brush stroke of the Palos Verdes Hill. If you read last week’s blog, you know that South Bay median prices are down year-over-year. In case you missed it, you can read the past blog here. Also, a few months ago I wrote a blog post titled, “Palos Verdes Luxury Property: Years to Sell & Huge Discounts,” so for those who read that blog, you would know that many Palos Verdes luxury properties are having a tough time selling. To reiterate last week’s information, when you split
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