I watch the Southbay. Torrance, Redondo, Palos Verdes, Rancho Palos Verdes, Lomita, harbor city, harbor gateway. None are close to pre covid. Like mentioned 10% less if that than last year's highs.
I think by the end of 23 we should see a more solid impact of the financial changes in Fed rate and economy. Some way more smarter than I say mid 2024 we should be closer to full impact. I guess we just wait to see what happens.
EXACTLY!Dead cat bounce. Fact is, unemployment will rise (historically when rates are raised, unemployment follows). Payrolls for those with overinflated Covid payroll offers will be cut back down.
People are running out of money. PPP money has been spent, EIDL loans are now coming due. ERC credits are still getting paid out, and some companies are raking in huge on those ERC credits. But it’s all running out and the party is almost over. Grab a hat
Aren’t you helping a lot of people in this area pop in ADU’s so that they can afford to own an otherwise small single family residence?
Who is my Favorite investment firm? I read info from almost every major credible firm on wall street. Funny how I stated clearly 6 by 18 months which put us at end of 23, then after some more info came out I said it could go to 24 as most of wall street says. Remember if ANYONE thinks a specific date is FACT they are wrong, be open to movement, be open to adjustments, be open to updated information, be open to facts changing and adjust thoughts is how I decide my financial information and I have done extremely well by being flexible and not stuck in a one thought process like some in the housing market that refuse to budge on their thoughts. We will see more excuses from the supposed housing experts here how 20-25% lower asking prices are just adjustments and not corrections...I just laugh.
Most places outside of CA and NY had aggressive climbs, if you’re looking at % spread
No. They are landlords adding them to collect additional rent. Make there SFR a duplex.
How many homes are going up but do they sell at that price probably just playing Zillow it changes the days on the market
Your hat is ready you open up a new business
And you yourself admitted things were slowing and you saw it so you decided to open a new business to hedge... I am glad you had open eyes and have nothing but success in your new venture, it is a great business that is for sure, Good luck.
Yes sir try to stay ahead of the game is smart
Mark my words...Nobody is paying those back. If it was under $200k, it didn't even have a personal guarantee... BK the corp and start again. The fraud associated with EIDL/PPP is beyond words. I imagine you won't hear much as the dems wanted all the free money avail.
Sounds a lot like “two weeks”!
What are we betting on? The sale price of the duplex I'll guess $1,065,000Alright place your bets lol.
Here’s a rental across the street.
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And the duplex for sale with tenants
Roughly my guess as well. I added that rental to show what a 400sq ft shoe box is going for.
Crazy how the dwellings ate up all of the yard...looks very nice tho.
Did you see the property taxes??? Holy shit thats a house payment by itself.
This one thing keeps my wife's idea of moving "closer to the grandkids" at bay.
Prop 13 does not help you much when the house prices are astronomical.
Wait until they get that abolished
Didn't a prop get passed in CA that if you're over 52 or something that you can roll your existing property tax amount into a new residence?
After 55 you could move your property taxes over in certain areas
My son is looking for a house in the South Bay
Let me know what area if I hear of anything not listed I will hit him up. I work with a great realtor also if he needs 1. There are houses for less but need work. One just closed on my block for 825k. Realtor had the offer in first day. By 2nd day there was number more offfers.
There are ways around a reassessment.
Since we are on this related topic--let me throw this out too.
Won't the transfer of a property from an individual's name to that of an LLC trigger a taxable event?
As part of Prop 19 you can can now move your property taxes after age 55 to any county in the State. It used to b that the county you were moving to had to reciprocate. You can also mke that move if you were displaced by a wildfire.
No--since the controlling interest of the LLC (now owner of property) remains with the original owner, there is no triggering event. The property simply moves from a personal asset to a business asset.
But that only applies to your primary residence. Prop 19 excluded investment and commercial. That is how CA left the door open to abolish Prop 13
It was done for the teachers and for the children and let not forget the firemen!
Correct but he was asking about moving closer to his Grandkids and did not want to move and raise his taxes.
It think it needs to be a trust?
