Los Angeles Valuation Group

12/26/2024

The Lucky Strike bowling chain expands to the Beverly Center!

12/12/2024

Big news as LA County buys the Gas Company Tower downtown to move their downtown headquarters into.

In a significant shift for downtown Los Angeles, the county is set to acquire the Gas Company Tower, a prominent 52-story skyscraper, despite vocal opposition from one of its own supervisors. The Los Angeles County Board of Supervisors approved the $200 million purchase with a 4-1 vote, signaling a....

10/11/2024

Not a good time to be an owner of an downtown LA office building.

According to The Real Deal via the Commercial Observer, the Union Bank Plaza at 445 South Figueroa Street in Downtown Los Angeles just closed for $80 million or $114 per square feet. This selling price sets a new record low for high-rise office buildings in downtown Los Angeles on a per SF basis, ob...

10/28/2023

Another big mortgage company closes its doors.

Homestar Financial Corporation, headquartered in Gainesville, has declared its intention to discontinue its retail mortgage lending operations. The company, which has established itself as a prominent national mortgage purchase lender, has cited the increased volatility in the mortgage market driven...

10/25/2023

Pretty big news for homeowners looking with an ADU or plans to build one!
https://lavaluationgroup.com/huds-new-policy-income-from-adu-units-now-counts-in-mortgage-underwriting/

02/26/2023

Opendoor continues to lose a large amount of $ flipping homes!
https://lavaluationgroup.com/opendoor-loses-399-million-in-the-!4th-qtr-of-2022/

07/15/2022

Layoffs starting in the real estate industry

Due to the recent increase in interest rates from under 3% to over 6% in a matter of months, real estate industry giants Redfin and Compass announced yesterday large layoffs of 6% and 10% of their workforces, respectively. At Compass this totals approximately 450 employees and 470 at Redfin. The pre...

07/01/2022

Times are changing quickly in the lending market with a major mortgage broker filing for bankruptcy!

https://lavaluationgroup.com/major-mortgage-brokers-files-for-bk-lays-off-80-of-employees/

06/11/2021

Sky high prices in Los Angeles with a new record in the 1st quarter!

Significant activity has been spotted in the real estate market, with several homes being sold to record numbers in Los Angeles for months. Douglas Elleman noted that the real estate market recorded total home sales up by 10% from the last quarter and up by 40% year-on-year, as those interested in t...

09/20/2020

Rent paid by tenants trending down finally due to the coronavirus

The National Multi-family Housing Council announced its Rent Payment Tracker for September showed only 76.4% of US households renting apartments made a full or partial rent payment by September 6. That number is down from 79.3% in August 2020 and is the lowest since the beginning of the COVID-19 pan...

05/11/2020

Lenders Raise Criteria for Home Loan Approvals

Lenders Raise Criteria for Home Loan Approvals by Greg Wasik | May 11, 2020 | Los Angeles Real Estate and Appraisal News | 0 comments While the COVID-19 crisis has put the brakes hard on the real estate market, deals are still getting done especially with interest rates at all times lows. However, l...

07/05/2019

Bad news for renters in LA - your landlord can raise your rents 4% now going forward!

Los Angeles Rent Controlled Apartments to See 4% Rent Increases after July 1 by Greg Wasik | Jul 5, 2019 | Los Angeles Real Estate and Appraisal News | 0 comments After an extended period of time where the maximum rent increase for rent controlled apartments has been 3%, starting July 2019 the incre...