There is a lot of action in the real estate market. I want to give you an update as to everything going on. Check it out below:
The above link is an article to LA Times article on increasing rent prices in San Francisco. Rent is going up in residential real estate as well as commercial real estate! San Francisco and the Bay Area is the Mecca for successful start up businesses. Even successful start ups can’t afford the increasing commercial rent prices! Annual rent is going up from $2-3 million to $22-23 million.
Above is another LA Times article about how California created Civil Code 4750.10. Basically, this new law permits hanging outdoor clotheslines! The law was set into force to encourage energy conservation. HOAs are losing their minds over this new law as it violates some of their CC&R’s. I never encourage anyone to buy a property with an HOA. HOA’s are extremely powerful entities and can make you do what yo dont want to do!
The above article is from Forbes.com. 2016 will continue to show increases in the rental market, especially on the Best Coast (oops, I mean West Coast). Why? Home ownership rates are decreasing and employment rates are increasing. Forbes, unlike Zillow and Redfin, have some pretty accurate articles pertaining to real estate. I recommend this read!
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