The Real Estate Team LA

07/04/2022

What are your thoughts? Are iBuyers helping or hurting the housing market?

Learn the pros and cons of selling your home to an iBuyer like Opendoor or Offerpad.

17/12/2020

What the Approval of Prop 19 Mean for California?

Proposition 19, which was one of two propositions on the California ballot that affected state property tax rules, has passed and been approved.

The passing vote means the following:

Eligible homeowners can transfer their tax assessments anywhere within the state and allow tax assessments to be transferred to a more expensive home with an upward adjustment

There has been an increase in the number of times that persons over 55 years old or with severe disabilities can transfer their tax assessments from one to three

It requires that inherited homes that are not used as principal residences, such as second homes or rentals, be reassessed at market value when transferred

And Allocates additional revenue or net savings resulting from the ballot measure to wildfire agencies and counties.

The new rules will take effect on transfers that take place after February 15, 2021. Real estate owners with low-assessed values of legacy properties may want to consider ways to preserve their ability for intra-family transfers prior to Prop 19 taking effect early next year. This is to decrease the potential cost to future generations of keeping real estate within the family.

New property tax exemptions under Prop 19 include revising the Parent-to-Child exemptions. This includes limiting the types of transfers between parents and children that can be exempted from reassessment and changing the property tax benefit available.

Only a transfer of the parent’s principal residence to the child (where they continue to reside principally) would qualify. And should the transfer meet these requirements, the child’s assessed value would be determined based on the assessed value at the timing of the transfer.

Here’s a closer look, keeping in mind this is at the time of transfer:

If Property Value Exceeds Parent’s Assessed Value by Less Than $1 Million: the child takes the parents’ assessed value.
If Property Value Exceeds Parent’s Assessed Value by More Than $1 Million: the child’s assessed value becomes the current property value less $1 Million.

If we can be of service to you or have a question about escrow or our services, please get in touch. We’re here to help!

21/11/2020

4th Quarter Market Update- North East LA

It’s hard to believe that we’re in the fourth quarter already! It’s been a crazy year, despite a few setbacks, the housing market has remained steady through everything.

I wanted to share the latest market information for North East LA. Your home is one of the biggest investments you make. Even if you’re not thinking about buying or selling right now, it’s good to stay on top of the housing market.

-Local Stats-

2020 Election did NOT slow anything down in housing.

North East LA Has SOLD 4th 1/4= 222

compared to 2019 SOLD 4th 1/4 = 224

Over $1mil 2020 = 97

Over $1mil 2019 = 72

Major Criteria changes = Yard, bonus rooms

A tip for buyers looking in our local market, Get in day 1 it's on the market and if you see coming soon, set up showing for the day of live to the market date.

A tip for sellers looking to move/sell in our local market,

STAGE STAGE STAGE, due to lower ability for buyers to see your home, it MUST photograph and video well, don't cut this cost out, you'll pay double for it on the price.

Let's set up an in-person/zoom market update and so we can support you as a buyer or seller. Ask us all your questions and let's have you know exactly what you can and can't/or don't want to do right now.

11/11/2020

08/03/2020

Get to know the team! former professional Motor Cross rider from The Real Estate Team LA putting the pass on everyone at the Glen Hellen raceway last weekend. 🤟🏼🤟🏼🤟🏼

21/02/2020

In Escrow!!!! Just two days on the market with multiple offers. If you want the same results, contact us now.

20/02/2020

Builder confidence dipped in January, but continues in a healthy range, according to the latest National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index. In January, the Index recorded a 75; at 51 or higher, builder confidence is overall positive.

"Low-interest rates and a healthy labor market combined with a need for additional inventory is setting the stage for further home-building gains in 2020," said Greg Ugalde, Chairman of the NAHB, in a statement.

"With the Federal Reserve on pause and attractive mortgage rates, the steady rise in single-family construction that began last spring will continue into 2020," added Robert Dietz, Chief Economist at the NAHB. "However, builders continue to grapple with a shortage of lots and labor while buyers are frustrated by a lack of inventory, particularly among starter homes."

13/02/2020

In Escrow! Representing buyer and seller. Contact us for coming soon properties and off market deals. Ask us about

13/02/2020

Just Listed!!!!! This is a special one. Contact me to find out why. 221 Frances St. 3/2 at 1500 ft.²

11/02/2020

Market Update.

2019: Average consumer credit score was 703. Higher than ever before— as a result consumers were able to borrow money at historical lows.

US Economy is thriving.
Wages in CA have never been higher.
Unemployment is at an all time low.
Home prices are forecasted to go up 4-6% this year in Los Angeles.

Oh and interest rates are forecasted to be at an average of 3.7% this year, compared to 3.9% last year.

What does this mean? Buy/invest
In real estate, and secure rates while they are at these lows. That 30 year fixed rate will create a great retirement vehicle for your future, and build wealth.

Inflation is happening, for all of you waiting to buy a home, I would strongly reconsider.

Call us today!

04/02/2020

Valentine's Day Candy giveaway!

To enter email us at [email protected] with your name and phone number!

11/01/2020

In Escrow! Contact The Real Estate Team LA for an in depth market analysis of your home. @ Chevy Chase Country Club