June 2015

Last Week in Los Angeles Real Estate 6/29/2015

By / Buyer Tips

Beverly Hills is getting yet another hotel. The owners of 9900 Wilshire Blvd., Wanda Group are planning to add a hotel to the $1 billion condo complex called One Beverly Hills. The number of originally planned condos will be reduced to accommodate the new hotel which will be next to the Beverly Hilton Hotel and under construction Waldorf Astoria. The number residences will total 193. The change will require the developers to go before the city again for permission, and construction completion is probably four years away. The Chinese company Wanda Group is the owner of AMC Theaters and is building the world’s largest film and television studio in Qingdao, China. They are hoping that this development will be help them get a foot in the door to Hollywood.

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Millennials: How to Establish Credit Quickly and Easily

By / Mortgage Information

Credit … Credit Scores … they’re a big issue, no matter someone’s age. But for Millennial-age hopeful home buyers, credit-related issues are of particular interest and importance these days. I’ll add they may be a bit frustrating too …Millenial home buyers should quickly establish credit. It’s been very well-documented: The job market and financial problems have dogged Millennials. As a result, many have poor credit. Or have avoided accumulating debt entirely.

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Last Week In Los Angeles Real Estate. 6/15/2015

By / General Information

The battle over restricting short-term rentals in Los Angeles continues to wage. While Santa Monica has passed an ordinance banning the rental of a home for less than 30 days unless the owner is in residence, other neighborhoods are fighting the policy. This action was shut down in Silver Lake and Venice, but the City of West Hollywood is next to watch. Malibu is allowing short-term rentals to continue, but the Mayor is authorized to issue subpoenas to companies to ensure that the property owners comply with the mandatory Transient Occupancy Tax (TOT) of 12%.

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