Long Beach Launches 0% Interest Loan Program for Accessory Dwelling Units

The City of Long Beach has announced an exciting new pilot program aimed at making it easier for homeowners to build Accessory Dwelling Units (ADUs) on their property. The program offers 30-year loan financing with a 0% interest rate, providing up to $250,000 to cover the costs of building an ADU.... more

• by Biazowa
• October 4, 2024
• Local Insights, Policy

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Fed Cuts Interest Rates: What It Means for the Housing Market

On Wednesday, the Federal Reserve made a significant move by cutting interest rates by half a percentage point. This marks the first rate cut in four years, and the decision follows a period when rates reached their highest level in 23 years and signals a pivotal moment as inflation shows signs of... more

• by Biazowa
• September 20, 2024
• Finance, Market Trends, Mortgage, Policy

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Allstate to Increase Homeowners’ Insurance Rates by 34.1% in California

California homeowners are facing yet another steep insurance rate hike as Allstate, the state’s sixth-largest insurer, has received approval from the California Department of Insurance to raise rates by 34.1% in wildfire-prone areas. This increase will affect around 350,000 policyholders and will... more

• by Biazowa
• September 7, 2024
• Insurance, Regional Trends

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Fed Governor Waller Backs September Rate Cut, Open to Larger Reduction

Federal Reserve Governor Christopher Waller confirmed that he will support an interest rate cut at the upcoming central bank policy meeting, scheduled to take place in less than two weeks. In remarks prepared for the Council on Foreign Relations in New York, Waller expressed openness to a more... more

• by Biazowa
• September 6, 2024
• Finance, Market Trends, Policy

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What the New Real Estate Commission Rules Mean for Buyers and Sellers

The real estate landscape is undergoing a significant shift as new commission rules take effect, stemming from the National Association of REALTORS®’ $418 million settlement announced earlier this year. This change is poised to alter the experience of buying or selling a home, particularly in... more

• by Biazowa
• August 17, 2024
• Market Trends, Policy

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The Biden Administration Unveils Rent Cap Plan to Lower Housing Costs

As part of its plan to reduce housing costs, The Biden Administration is urging Congress to pass legislation penalizing corporate landlords for increasing rents above certain levels. The administration is proposing a rent cap for corporate landlords, limiting rent increases to no more than 5%.... more

• by Biazowa
• July 25, 2024
• Policy, Rental

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State Farm Seeks Approval for Significant Rate Increase in California

California's insurance landscape is facing yet another challenge as State Farm, the largest home insurer in the state, seeks approval for a substantial rate increase. In a recent filing with the California Department of Insurance, State Farm requested permission to hike rates for various insurance... more

• by Biazowa
• July 9, 2024
• Insurance, Regional Trends

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California Home Prices Reach Record Highs Amid Market Challenges

In April, California home prices reached new heights, even amid high mortgage rates and a statewide housing shortage. The median price of a single-family home soared to $904,210, marking a nearly 6% increase from March and an 11.4% rise compared to April 2023, according to the California... more

• by Biazowa
• May 24, 2024
• Regional Trends

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