COVERAGE INFORMATION:
California Department of Real Estate (DRE) NEWS CLIPS service coverage:
Monday through Friday (except state holidays) each week includes electronic format articles retrieved from newspapers or news services that report real estate related news in California and some national services. Coverage is for California newspapers that are available electronically via the Internet - and any significant related breaking news.
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Copyright © , California Department of Real Estate
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Thursday, 01/16/2025
Top Stories
Gov. Newsom extends rental price gouging protections until early March
ANDREW KHOURI, Los Angeles Times (Subscription)
Gov. Gavin Newsom extended price gouging protections on rental housing Thursday amid calls for authorities to prosecute landlords jacking up rent in the wake of Los Angeles County’s devastating fires.
National News
Wall Street Thinks U.S. Homes Are Overpriced
CAROL RYAN, The Wall Street Journal (Subscription)
The stock market is pricing portfolios of American homes at a hefty discount to what houses are changing hands for in the open market. Shares of single-family landlords Invitation Homes INVH 0.85%increase; green up pointing triangle and American Homes 4 Rent AMH 0.49%increase; green up pointing triangle are trading at 35% and 20% discounts to their net asset values, respectively, according to real-estate analytics firm Green Street. Invitation Homes’ stock has traded at a particularly large discount to NAV since interest rates began to rise in early 2022, but the gap has widened by 10 percentage points in the past year.
U.S. Residential Foreclosures Dip 10 Percent Annually in 2024
MICHAEL GERRITY, World Property Journal
According to ATTOM's Year-End 2024 U.S. Foreclosure Market Report, foreclosure filings--comprising default notices, scheduled auctions, and bank repossessions--were reported on 322,103 U.S. properties in 2024. This marks a 10 percent decline from 2023, a 1 percent drop from 2022, and a 35 percent decrease from 2019, prior to the pandemic's impact on the market. Foreclosure filings in 2024 also represented a sharp 89 percent decrease from the 2.9 million peaks in 2010.
Experts discuss impact of Amazon’s tiny homes on real estate market dynamics
THE DAILY REFRESH, ABC News 9
CHATTANOOGA, Tenn. | Maxable — Amid the extreme media buzz around Amazon now selling a two-story tiny home for under $50,000—complete with balconies and picture windows—the conversation around tiny homes is more heightened than ever ... with much discourse focused on how these compact, stylish and affordable living spaces rife with design ingenuity are impacting the modern real estate marketplace.
California News
Where does L.A.’s Luxury Home Market Go From Here?
KATHERINE CLARKE, E.B. SOLOMONT & JESSICA FLINT, The Wall Street Journal (Subscription)
Tucked away on a once-lush mountainside in the Upper Riviera area of Pacific Palisades, roughly 20 miles west of Downtown Los Angeles, a sprawling, architecturally striking mansion built by L.A. developer Ardie Tavangarian was a monument to luxury and excess.
Why California keeps putting homes where fires burn
BEN CHRISTOPHER, Cal Matters
In 1955, the Ventu Park wildfire tore through the canyons above Malibu, burning nearly 14,000 acres and eight homes. The same area saw two large fires burn hillsides and homes over the next three years. There were two in the 1970s, one in the ‘80s and three in the ‘90s. This century those hills saw the Woolsey fire, one of the most destructive burns in California history. The Franklin fire, which scorched the hills just last month, has now been overshadowed by the firestorm that followed.
Amenity-Rich Properties Propelling Office Market Rebound
JEFFREY STEELE, Forbes
When JLL reported last month the San Francisco office market had seen its first positive net absorption quarter in four years, the news was enough to make headlines. But the City by the Bay was not the only one with glad tidings.
Whisper Network Emerges in the Desperate Rush for Housing in L.A.
RONDA KAYSEN, New York Times (Subscription)
As Los Angeles residents fled their homes last week, a luxury real estate broker started compiling a list of all the homeowners he knew with empty second or third homes in Los Angeles and asking them to rent them.
Industry News
FCC warns of mortgage relief scam impersonating 400 lenders
SARAH WOLAK, HousingWire
The Federal Communications Commission (FCC) this week warned consumers in all 50 states that fraudsters are posing as mortgage lenders by calling homeowners and asking them to pony up on payments.
Real Estate Technology
7 Powerful ChatGPT prompts that make doing business a no brainer
JIMMY BURGESS, Inman
Agents who lean into using AI to serve their clients at a higher level, Jimmy Burgess writes, will absolutely outperform the agents who don’t embrace this technology.
Property News
Calif. Home so chill its original owner called it Rancho Relaxo hits the market
ANNA MARIE ERWERT, SF Gate
Golf fans, get ready to lose your minds: 52123 Dunlevie Court sits on the second fairway of the Arnold Palmer-designed Tradition Golf Club in La Quinta, California. But that’s not all: This property is also the former home of multi-award-winning and World Golf Hall of Famer Arnold Palmer himself. Now it could be yours, for $5 million.
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