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Applications for mortgages to purchase homes plummeted 6.5% last week bringing us to 21% below the rates during the same period in 2021. We haven’t seen demand as low as it is now since 2000. That’s a 22-year low! What does this mean for you? Fair warning: at least 95% of this blog is going to sound like bad news for home affordability. But we promise, if you hold on u...
In our industry, and America in general, fair housing is an unalienable right. That’s why it’s every agent’s responsibility to uphold these values with unimpeachable ethics. This isn’t just a social belief. It’s the law. At JohnHart, we strictly adhere to the Fair Housing and Discrimination Law. Even if this law weren’t in place, we’d upho...
There’s an absurd amount of propaganda about the housing market in the news these days. And it’s not just our clients who are absorbing it. Realtors are coming to me in a panic over clickbait-style headlines from respected journalists. I was watching a video the other day in which a journalist stated we could see a “20% decrease in housing year over year.”...
When you sell your home, it can be tempting to gloss over that leaky plumbing your cousin “fixed.” But this isn’t Craigslist. And California Case Law declares that it’s a home seller’s legal obligation to disclose to the buyer any known material facts impacting a property’s value or desirability. A transfer disclosure statement (TDS) allows a seller to ta...
Over the last few decades, we’ve seen leaps in technology that completely redefined the world as we know it. It stands to reason that technology capable of redefining our global community could be useful in redefining real estate. And for anyone not paying attention, redefining real estate is what JohnHart is all about. We recently broke down how we’re using agent liaisons&...
Rent control in Los Angeles is confusing people; especially with an ongoing state of emergency gripping the city. We witnessed this first hand when we attended the Los Angeles Housing Department’s (LAHD) Wednesday, August 24th webinar. The meeting was primarily packed with landlords as baffled as they were angry. Despite his succinct responses, host Agassi Topchian, a member of the Rent S...
Numbers don’t lie. We wish we could say the same for headlines. In our quest for transparency, we’re going to be bringing you monthly updates on the health of the real estate market with our new series Absorption Rate Analysis. We hear a lot about “fewer homes hitting the market”, but this hasn’t been our personal experience. We still see a very healthy market in t...
You shouldn’t just consider curb appeal when selling your home. Rather, it should be a part of your lifestyle. You’re living in your home, so why not enjoy it? Outstanding curb appeal doesn’t just welcome guests. It welcomes you home after a long day. So, if you want to make sure you’re making the most of your personal palace, consider some of these 24 curb a...
Ideally, we’d like to work in a real estate industry in which everybody wins. Easier said than done. But contingencies, when used in good faith, help us get closer to that goal. What are contingencies? Basically, they’re conditions that can be placed on a transaction that, if not met, invalidate the transaction. This definition probably paints more of an “everybody l...
You may not be willing to pony up $75 million for a luxury condo, but the Four Seasons is betting somebody will. That’s the cost of the penthouse crowning their 12-story private residences complex on the border of Beverly Hills. It should come as no surprise that $75 million is well over the record sale price for a luxury condo in Los Angeles. But in a sprawling megalopolis where single f...
