US Property

News

Expert Tips for Buyers and Sellers to Win in Today’s Market

Navigating the housing market can be challenging. Whether you’re a buyer searching for your dream home or a seller aiming to maximize your property’s value, being well-prepared is essential. Below are expert insights to help you succeed in today’s competitive real estate environment. Pro Tips for Buyers in Today’s Market 1. Understand Your Full Budget When buying a home, it’s not just about the price tag. Hannah Jones, a senior economic research analyst at Realtor.com, advises focusing on your total monthly housing costs. This includes your mortgage, property taxes, insurance, and other expenses. By knowing these details, you can avoid

November 19, 2024 No Comments

News

Affordable Housing Development Proposed at 4600 E. Olympic Blvd in East Los Angeles

A new affordable housing project is set to rise at 4600 E. Olympic Boulevard in unincorporated East Los Angeles, bringing much-needed low- and moderate-income housing to the area. The proposal, recently reviewed by the Los Angeles County Regional Planning Commission, aims to address the ongoing housing crisis by offering 69 affordable units. Project Overview and Design The development is spearheaded by Magna Loyal, LLC, the property owner, with architectural plans crafted by Metropolis Architecture. Known for their involvement in Executive Directive 1 affordable housing projects across Los Angeles, Metropolis Architecture has envisioned a five-story contemporary building for this site. Unlike

October 23, 2024 No Comments

News

The Future of Los Angeles: Building a Car-Free City

Los Angeles is at a crossroads, with two visions for its future competing for attention. On one hand, we have electric, autonomous vehicles like the Waymo Jaguar I-PACE, which promises a cleaner, quieter city. However, the technology is still in its infancy, with challenges like stalled navigation at crosswalks. The potential benefits—like working, eating, or sleeping while in traffic—are promising, but the limitations are evident. On the other hand, Los Angeles hosts CicLAvia, a recurring event where the city transforms into a vibrant, car-free zone. On event days, roads become walkways, bike paths, and gathering spots, bringing the community together

October 23, 2024 No Comments

News

Metro Seeks Community Input on Affordable Housing Near 17th Street Station

Metro is moving forward with its ambitious 10,000 Home Commitment, focusing on creating affordable housing on underutilized Metro-owned land. One of the first major projects is planned near the 17th Street/Santa Monica College station, where Metro aims to develop income-restricted housing. To ensure the development aligns with the needs of the local community, Metro is actively seeking feedback from residents. Residents have two main ways to provide their input. Metro has launched an online survey and will also hold a virtual meeting on October 23, allowing community members to share their thoughts on the project’s design, the types of services

October 15, 2024 No Comments

property News

Vancouver Condo Market Dominated by Investors Favoring Smaller Units

The Vancouver condo market is being heavily influenced by investors who prefer smaller units, according to recent data from Statistics Canada’s Canadian Housing Statistics Program (CHSP). This trend reflects a growing investor preference for maximizing returns through higher rent per square foot, which tends to be more lucrative for compact living spaces. In Vancouver, where property prices continue to soar, around one-third of all condos are investment properties. These units, particularly those under 600 square feet, offer investors a greater rental yield compared to larger units. A key reason for this is the higher rent per square foot associated with

October 10, 2024 No Comments

News

Proposition 33: The Heated Debate Over California’s Rent Control Measure

California’s Proposition 33 has sparked a fierce debate as it heads to the November 2024 ballot. This controversial measure, which could transform the state’s rental market, has supporters and opponents clashing over its potential impacts on housing affordability and the broader economy. With both sides launching aggressive campaigns, the conversation around Prop 33 is becoming increasingly heated, dominating airwaves and online platforms. What is Proposition 33? Proposition 33 aims to address California’s ongoing housing affordability crisis by repealing the Costa-Hawkins Rental Housing Act of 1995. Currently, Costa-Hawkins allows rent control only on housing units built before 1995. It also permits

October 9, 2024 No Comments

property News

The Disappearing Act of Affordable Housing: A Growing Crisis in the U.S.

Affordable housing in the U.S. is on the brink of a major crisis, as thousands of units built under the Low-Income Housing Tax Credit (LIHTC) program are set to expire in the coming years. This program, which has been in place since 1986, has been responsible for creating 3.6 million affordable housing units, yet many of these units are nearing the end of their 30-year affordability period. For tenants like Marina Maalouf, a longtime resident of Hillside Villa in Los Angeles, this expiration marks a significant threat to their livelihood. Marina’s rent doubled in 2021 after her building’s LIHTC contract

October 8, 2024 No Comments

News

Silver Lake’s Silva Apartment: A New Landmark in LA’s Hot Market

A new chapter begins in Silver Lake, Los Angeles, as Cityview and Wafra secure a $73 million loan from 3650 REIT to acquire Silva, a newly built Class-A apartment community. Located at 235 N. Hoover Ave, Silva boasts 360-degree views of iconic landmarks like Hollywood, Downtown LA, and West Los Angeles, offering residents a unique combination of luxury and convenience. With 221 units averaging nearly 1,000 square feet, each home features modern amenities such as 9-foot ceilings and floor-to-ceiling windows. This prime location, only a mile from the heart of Silver Lake, is renowned for its vibrant culinary scene and

October 4, 2024 No Comments

News

New Yorkers Say ‘Yes’ to Affordable Housing: The “City of Yes” Initiative

New Yorkers are uniting for a future where affordable housing is within reach, thanks to the approval of the “City of Yes for Housing Opportunity” proposal. This initiative, marking a pivotal change in the city’s zoning code, aims to address the housing crisis and meet the growing demand for affordable homes. With the city’s vacancy rate at a low 1.4%, rent prices are skyrocketing, forcing families out of their homes. Mayor Eric Adams, alongside state officials, has taken proactive steps to tackle this crisis head-on. Now, it’s up to the City Council to join forces and pass this landmark proposal,

October 3, 2024 No Comments

property News

Zoning in Los Angeles: The Debate Over Single-Family Zones

The Los Angeles City Planning Commission recently made a pivotal decision, voting to prioritize housing developments outside of the city’s single-family zones. This move is part of a larger rezoning effort required by the state, aiming to accommodate over 450,000 new homes in the next five years. With 72% of L.A.’s residential land currently zoned for single-family homes, city planners are exploring ways to build more housing without disrupting these areas significantly. The new proposal focuses on encouraging developers to construct taller, denser buildings in areas already zoned for apartments, with incentives for including affordable housing for low-income renters. Meanwhile,

September 29, 2024 No Comments