A Paradigm Shift in Rental Demographics
According to a report issued by Harvard’s Joint Center for Housing Studies, the era of the broke 20 year old renter are gone. In their place, we are seeing individuals with more net worth (but not enough to purchase a home) of all age ranges,...Myth Busting: Buying a House on a Busy Street Comes with Perks
Frequently, things that seem like common sense are actually incorrect. Today we will briefly discuss the incorrect assumption that living on a main street (Laurel Canyon comes to mind) is a bad idea. To be sure, there are down sides: (1) traffi...
Calculating FICO Scores is About to Change, and That’s Good for the Sherman Oaks, Studio City, and Encino Markets
Historically, when pursuing a loan, banks will look at your FICO score. Thus, it is important to stay up-to-date on exactly how that score will be calculated; and there are changes that will go into effect soon. Specifically, increasing debt le...
Investing in Los Angeles Real Estate Continues to Have Good ROI, and The Chernov Team’s Expertise in Specific Markets Will Only Increase that ROI
Given the low mortgage rates, 2020 is gearing up to be a great year for the housing market. This is on the heels of several good years for the market; housing prices have increased by 5.1% since June 2015. That’s not to say the market has bee...
Massive Investment in Thwarting Housing Crisis Unlikely to Impact Home Values in High-Cost Areas
On Friday, Governor Gavin Newsom reaffirmed his commitment to affordable housing by unveiling a proposed budget that adds to last year’s historic investment in the housing market. Last year, Newsom appropriated $1.75B (that’s a record) to h...
HOAs And You
Like all things, homeowners associations (“HOAs”) have both good things and bad things about them. The HOA typically results in a well maintained area along with a host of other benefits (from pre-paid utilities, to security, and even insur...
SB50: Good For California, Bad for Housing Prices
California Senate Bill 50 has the potential to create thousands of jobs, billions of dollars in revenue, and solve the affordability crisis that is facing millions of Californias; it would force California communities to permit more constructio...
Rental Properties: When and How Can You Raise Rent
Many people purchase properties as investment properties; the idea is to rent the property out to cover costs and your mortgage, and sell the property when it has appreciated sufficiently. However, many landlords can get themselves into trouble...