A combination of record-low mortgage rates, low inventory, and the increased appeal of non-urban residential areas in a pandemic made 2020 a strong year for home sales. Existing home sales were generally up year over year — in October, by as much as 27%. Without a doubt, the combined effects of limited supply and increased demand made 2020 a sellers’…
Despite efforts in recent years to simplify it, the U.S. Internal Revenue Code (IRC) remains extraordinarily complex. There exist many distinctions that are hidden from plain view. Particularly when it comes to real estate, falling on the wrong side of one such distinction can be very costly. For owners of rental properties, S Corporations have a range of potential upsides…
Admittedly, New York City’s 5th Avenue probably has a lock on the most impressive urban holiday decor. Without the prototypical snow-covered streets, evergreens, and wind chill factor, outsiders might think that Los Angeles could never measure up. But we’re happy to report that, for those of us who know where to go, that could not be further from the truth….
The same way your general practitioner gives you an overall picture of your body’s health, a general home inspection gives you an overall picture of your home’s health. If you had a troubling rash, your GP would send you to a dermatologist for more specialized tests. Similarly, if the home you’re looking to buy has mold, or asbestos, or a…
We know it better than anyone: Buying a home is a complicated process, especially if you’re doing it for the first time. Fortunately, your DRU Advisor is here to help simplify the process. To help you avoid common mistakes — e.g., buying the wrong home, or making a poor investment — we’ve polled our team and assembled five crucial pieces…
Home sales in Southern California have been rising since May. But as of the week ending Aug. 29 — in which buyers signed contracts for 3,770 properties — home sales were rising so quickly that they were outpacing available inventory. 3,770 new escrows represents a 0.7 percent rise week-over-week, and a 6 percent rise year-over-year. By contrast, the 25,800 homes…
Coronavirus be darned; the L.A. Clippers are betting on back-to-normal basketball — at least by 2024. On Wednesday, September 8, the Clippers closed on a $66.3 million deal to acquire 13 acres of Inglewood land, which will be the eventual host of the Inglewood Basketball and Entertainment Complex (IBEC), including Murphy’s Bowl, the team’s new stomping grounds. “This arena will…
The mortgage giants Fannie Mae and Freddie Mac are raising fees for lenders on mortgage refinancing, which will lead to a rise in consumer costs. The Federal National Mortgage Association (FNMA) and the Federal Home Loan Mortgage Association (FHLMC), more commonly known as Fannie Mae and Freddie Mac, buy loans from lenders, then package them into securities and sell those…
Is now the time to buy? It might seem implausible, but Los Angeles homes are actually selling more quickly, despite the pandemic. According to an ABC7 analysis of Zillow’s data, homes in the L.A. area sold 8 days faster the last week of July this year than they sold in the same week last year. According to the same analysis,…
What does it really mean? Gita Gopinath, the Economic Counsellor and Director of the Research Department at the International Monetary Fund (IMF) pointed towards an unprecedented economic downturn caused by the coronavirus. In an article for the IMF, she explained that, “as countries implement necessary quarantines and social distancing practices to contain the pandemic, the world has been put in…
