MAY 2021
In the greater Los Angeles area, we are now enjoying the spring weather. The Coronavirus situation is improving, with relatively low new rates of infection and testing positivity. The Coronavirus risk level in Los Angeles County is officially in the yellow tier, meaning the risk level is minimal, and all businesses serving the public may resume operations. However, the economic impact of the pandemic will continue to persist for some time, including the impact on the residential and commercial real estate markets, which are the focus of this issue. Our articles below highlight challenges in the current real estate market, as well as opportunities for investment and property tax savings.  

Adam Schorr
Board Member, GPSLA Networks
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ARTICLES
Shortages of Homes in Los Angeles: Trends Creating the Latest Housing Market “Crisis” 
Following a national trend of low inventories and shortages of homes, Los Angeles and throughout California, the available homes for sale follow the trend with those same record low inventories.

The conversation of Home Buyers in multiple competitive offers for homes is repeated often. Many of today’s Sellers are profiting from home sales above current market values.
Are You Overpaying Property Taxes?
Between 30 percent and 60 percent of taxable real estate has an inflated assessment. Moreover, typically fewer than 5 percent of taxpayers dispute the assessed value of their real property.¹ Giving these statistics, there is a good chance that you are paying too much in property taxes.

Two Investment Opportunities in the Commercial Real Estate Market
There are currently two opposing trends in the commercial real estate market in the greater Los Angeles area that provide investment opportunities: vacancies in the office market continue to increase, but the demand for industrial, open-air storage is exceeding capacity. 
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