Category: Uncategorized
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New Bills Aim to Fix California’s Insurance Problems
New federal bills aim to improve affordability and access by offering reinsurance options and disaster coverage.The INSURE Act proposes affordable federal reinsurance for insurers, mandating comprehensive natural disaster coverage for homes.
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Cities Cut Red Tape to Promote Office-to-Housing Conversions
Nearly 20% of office space in the U.S. is vacant, prompting cities to convert unused offices into housing to address economic and housing shortages. Efforts include reducing approval times, offering tax incentives, and easing building codes. Despite these initiatives, conversions have only produced over 22,000 apartments since 2016, a small fraction of the total housing…
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California: Should Rent Control Apply to Post-1995 Properties?
Current Rent Control Limitations: The Costa Hawkins Act prohibits rent control for homes built after 1995, limiting protections.Proposition 33 Goals: Prop. 33 aims to expand rent control to all housing types, including newer constructions.
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Landlords are using AI to raise rents — and California cities are leading the pushback
California and federal prosecutors have accused RealPage of exploiting renters by inflating prices through its software, which allegedly facilitates unlawful information-sharing among landlords. San Diego's city council is drafting an ordinance to ban this pricing software, following similar actions in San Francisco. The federal antitrust lawsuit claims RealPage's practices harm competition and contribute to rising…
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Why Buying a Home in California Outweighs Renting
With a rental cost of $161 per 100 sq ft, California has one of the highest rental prices in the US, with avg rents ~$3K/mo. California homes are spacious, averaging 1,860 sq ft, but buying a home offers better long-term value than renting.
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California Realtors Predicting a Rosier 2025
Home Sales Increase: Projected rise of 10.5% in single-family home sales, reaching 304,400 units in 2025.Price Growth: Median home price expected to rise 4.6%, reaching $909,400 in 2025 due to high demand.
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California home price appreciation is cooling
Prices for starter homes in Riverside and San Bernardino counties fell 0.7% over the past year, marking the first decline in 17 months. This contrasts with a 2.4% increase previously. Luxury home values also cooled, rising 3.6% compared to 5.4% the prior year. Overall, inland prices increased by 0.9%, down from 3.4%. Other California markets…
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California: Positive Outlook for 2025
Home Sales: Projected to increase by 10.5%, reaching 304,400 units as interest rates drop and more homes enter the market. Median Home Price: Expected to rise 4.6%, bringing the median price to $909,400, supported by high demand and limited supply.
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California multifamily building owners have embraced accessory dwelling units (ADUs)
National REITs and local investor-operators have successfully completed numerous ADU projects and plan to continue expanding. Multifamily owners are converting carports, greenways, and other spaces into entry-level apartments, often within a year. New laws and prefabricated construction methods have facilitated faster building timelines. AvalonBay has added around 50 ADUs in California, with average studio and…
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Real Estate Investing: Essential Tips for Newbies
Conduct detailed inspections to uncover hidden issues and avoid costly repairs later. Select locations with strong amenities and growth potential for successful Real Estate investments.