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Proposition 19 will have an enormous impact on options for people that are 55+. You can now transfer your low property tax assessment (Prop 13) to anywhere in California up to 3 times! You can also now purchase a more expensive home and transfer your low tax basis with an upward adjustment. Allows eligible homeowners to transfer their tax assessments anywhere within the state and allow tax assessments to be transferred to a more expensive home with an upward adjustment. ... Increases the number of times that persons over 55 years old or with severe disabilities can transfer their tax assessments from one to three. Requires that inherited homes that are not used as principal residences, such as second homes or rentals, be reassessed at market value when transferred. Permits homeowners who are 55, severely disabled, or whose homes were destroyed by wildfire or disaster, to transfer their primary residence’s property tax base value to a replacement residence of any value, anywhere in the state. Limits tax benefits for certain transfers of real property between family members. Interested in more information? Give me a call at (424) 272-5532.

Featured Listing: 8300 Manitoba Street #311, Playa Del Rey, CA 90293 $699,000. Located on the top floor of the highly sought-after, prestigious and well maintained Pacific Cove community.

We are lucky to have such incredible and positive clients! We appreciate you too Dean!

Just sold with multiple offers above Starting Price!

Featured Listing: 2209 Superior Avenue, Venice, CA 90291 $1,795,000. Escape to this lush and peaceful Venice Retreat exuding charm. It is a perfect blend of indoor/outdoor living with its spacious center courtyard and relaxing backyard filled with lush greenery.

The pandemic is driving a large migration from major hubs like San Francisco and New York to lower cost areas and ‘Zoom Towns’. Zoom Towns are traditionally vacation areas where workers are migrating from a high cost of living area to a more desirable lower cost of living since they are no longer tethered to an office location. San Francisco rents are being driven down by this drop in demand. Tech companies are allowing employees to permanently work from home, or relocate to ...more affordable areas. For a 1 bedroom rent has decreased 20.3% from a year ago in San Francisco. In New York City, a median 1 bedroom rental is down 12.5% from a year ago. In Los Angeles County we are seeing big swings based on the location. Los Angeles City rents for 1 bedrooms have dropped 11% over the last year but have increased up to 16% in places like Oxnard. People are moving to lower cost areas where they can have more indoor and outdoor space. Santa Monica has a 15% drop in rents while Newport Beach had a 9% increase. People are re-defining where they want to live and are voting with their feet. Despite the change in rent; the overall sales market is strong. Inventory continues to decline after the peak in April and well priced homes are still selling quickly. Low interest rates continue to fuel the market and buyer demand is strong. The elephant in the room is still the many Americans that have been financially impacted by Covid-19 and are not paying their mortgage. The forbearance grace period will begin to expire in March and April of 2021. This could have an impact on the market as seller's decide to sell instead of paying back a years worth of deferred mortgage payments. Fortunately the forbearance rate continues to drop and is now at 5.9% of federally backed mortgages. I am making changes to my monthly market update. Please provide feedback if there is something you would like to see. Sources: https://www.zumper.com/blog/rental-price-data/ https://www.zumper.com/blog/los-angeles-metro-report/ http://themls.stats.10kresearch.com/infoserv/s-v1/AswI-VUj https://www.housingwire.com//mortgage-forbearances-down-/.

Featured Listing: 12506 Appleton Way, Los Angeles 90066 $3,495,000. Brand new sleek contemporary home designed by Riviera Property Group & Joanna Leon, on a charming tree-lined street in the heart of Mar Vista.

The real estate market is strong despite 18.5% unemployment in Los Angeles and 6.93% of mortgages are in forbearance nationwide. The strong market is largely driven by record low interest rates and a Federal Reserve promise to keep rates low. Today I saw a 15 year fixed rate quote at 1.875%! The big question no one can answer is what will happen to the mortgages in forbearance? Many can pay their mortgage but have decided to save their cash instead of paying their mortgage. T...he back loan amounts will still be due when the forbearance period is over. Will we see a spike in foreclosures, or will the mortgages in forbearance refinance and take advantage of record low interest rates? Due to Covid we are seeing a transition in the housing market. People want larger properties since they are spending more time at home. People are also beginning to move out of higher cost of living areas to where they can either afford to buy, or afford to purchase a larger home. Apartment rents are dropping and we are seeing rental concessions rise. Months Supply of Inventory for August: - LA County: 3.2 - Venice: 3.6 - Culver City: 2.1 - Santa Monica: 4.7 - El Segundo: 1.8 Sources: - Unemployment: https://ycharts.com/indic/los_angeles_ca_unemployment_rate. - Forbearance Rate: https://www.mba.org//share-of-mortgage-loans-in-forbearanc - Apartments declining: https://wolfstreet.com//rents-plunge-in-san-francisco-new/ https://www.zumper.com/blog/rental-price-data/ - LA County: http://themls.stats.10kresearch.com/infoserv/s-v1/Ad1j-jqo - Venice: http://themls.stats.10kresearch.com/infoserv/s-v1/Ad1a-s73 - Culver City: http://themls.stats.10kresearch.com/infoserv/s-v1/Ad1J-vzr - Santa Monica: http://themls.stats.10kresearch.com/infoserv/s-v1/Ad1U-sjQ - El Segundo: http://themls.stats.10kresearch.com/infoserv/s-v1/Ad1I-gRr