. LA County Mandate: People attending major outdoor events in Los Angeles County will be required to wear a mask, regardless of vaccination status, under a new order issued Aug. 16 by the county health department. Click to read the order. L.A. requirement: City employees must show proof of vaccination or undergo weekly testing. SBA: PPP Loan Forgiveness The […]
Government Affairs
Tapping Foreign Buyer Market
International buyers were less involved in the US housing market during the first year of the pandemic — but that may soon change. Lawrence Yun, the National Association of REALTORS®’ top economist, believes buyers from other countries may become bigger players in the U.S. housing market in the coming months after they had taken […]
Return of Risky Mortgages?
Mortgage payments that grew more expensive over time were one of the main culprits of the housing bust that led to a worldwide, financial disaster in the mid-2000s. And now one of the types of loans that defined that era is staging a comeback. More homebuyers are choosing adjustable-rate mortgages, which offer lower monthly payments […]
NAR’s Pocket Listing Policy a Possible Target of DOJ
Less than two weeks after the U.S. Department of Justice pulled out of a proposed settlement with the National Association of REALTORS® (NAR) to broaden its investigation into the trade group’s rules, the agency has provided a big clue as to one of the rules it will be digging into: the Clear Cooperation Policy. In […]
Redfin CEO On Damage of Pocket Listings
by Glenn Kelman, CEO Redfin In a November 2019 fair-housing initiative, the National Association of REALTORS® (NAR) moved to ban so-called pocket listings, where real estate agents tell only a select group of buyers about a home for sale. But since then, the number of homes sold without being marketed to the public has […]
CVAR Snapshot – June 2021
Our monthly local report from C.A.R. Analyst Guillermo Flores says that the market remained strong in June, with sales recording another 28.3 percent increase from last year. “In a nutshell, the market remained strong in June,” he said, “and set a new record high in median price for the fourth consecutive month.” Signs of slowing down, […]
Cities Report – July 2021
AZUSA Magellan Value Partners has secured a $14.4 financing package for the construction of a self-storage facility at 900 W. Foothill Blvd., Azusa. Talonvest Capital negotiated a five-year, fixed interest rate loan on behalf of the borrower. The deal also includes four years of interest-only payments and limited recourse, and comes with a five-year extension […]
What’s Happening at CVAR 2021
Coronavirus infections are on the rise. New cases are up in L.A. County among vaccinated people, with young adults seeing the greatest increase. There are also signs that unvaccinated people tend to engage in behaviors that are more likely to spread the coronavirus, the LA Times reports. A state mandate? Lawmakers are now considering requiring Californians to show […]
July 12 – CVAR Connect
CVAR Online Classes July 12 | CRMLS Training: Creating CMA in Matrix July 13 | Contract College (14 Tuesdays thru Sept. 21; $35 entire series) July 14 | Estate Planning & Trusts in Real Estate w/ Atty. Paul Velasco July 14 | New Member Orientation July 16 | Shred Day – Document shredding at Glendora & Rancho Cucamonga locations! July 19 | CRMLS […]
Need for Housing, Water on Collision Course?
Housing advocates and developers are warily watching California’s intensifying drought and what it may mean for the state. Millions more homes are needed to house residents, yet 85% of California is experiencing extreme drought conditions. Already the need for housing is colliding with the water shortage in the coastal area of Marin County (north of […]