Agents gauge State Farm’s exit from home insurance market

With State Farm’s announcement that it will stop writing new home, business and casualty insurance in California, some L.A. agents anticipate that it will change the process of home sales, while others take a wait-and-see approach. The…

Selling a rental property? Here are the tax consequences

** THIS IS NOT FINANCIAL ADVICE ** Dear KAD: My siblings and I are considering selling a triplex. It was bequeathed to us by our mother when she died in 2007. There is no mortgage and it is fully occupied. If we sell, my wife and I (both…

Some buyers find deals in shifting Southern California housing market

Jackson lost out on more than a dozen properties as home prices surged during the pandemic housing boom. He finally called off his search in 2021 when someone outbid him for a Tarzana condo by $25,000 — and paid in cash. “I was like,…

Home buyers get some relief as mortgage rates come off 7% highs

In October, mortgage interest rates topped 7% for the first time in two decades, the latest milestone reached this year amid a surge in borrowing costs. But potential home buyers may have noticed something different recently: Rates are falling. On…

Real estate gurus: It may be time to buy a home—now

The housing market is cooling as consumers grow weary of higher mortgage rates. In December, the number of newly-listed homes sold had fallen about 37% from a year ago, according to Redfin data. What are real estate professionals seeing…

Southern California home prices fall for a 6th straight month

Southern California home prices fell for a sixth-straight month in November, wiping out most of the price gains achieved during the first half of the year. The median price of a Southern California home – or the price at the midpoint of…

Southern California home prices dip in November

Southern California home prices fell in November, marking the fifth time in six months that prices declined amid a broad slowdown in the housing market. The six-county region’s typical home price dropped 0.9% from October to $815,911 last…

How much do you need to earn annually to afford a house in Los Angeles and surrounding areas

The annual income needed to buy a home in Los Angeles skyrocketed past $220,000, a recent study found, with higher mortgage rates and inflation cutting deeper into household incomes. That means the ability to own a home is a goal inching…

Why it may be time to buy into the slumping real estate market

As the U.S. housing market says goodbye to low mortgage rates—and home sales slump as a result— here's the big question: Is it now time to invest in residential real estate? “For investors…

Inside the incredibly shrinking Southern California starter home

For decades, the single-family home has been Southern California’s ultimate lure — a chance to live a life of sun and sand from the comfort of your very own property. Most buyers’ ticket into that life is the starter home.…