Kenny Slaught Discusses CA Real Estate Market

The present situation of the California property industry happened because land is good locations is not available. In Los Angeles and San Francisco, the price of undeveloped land is too high, and constructions are also delayed, as Kenny Slaught explains. This is why numerous homeowners decide to renovate instead of sell. Proposition 13 also made the costs of moving too high, even though future property tax increases should not be higher than 2%, The exception happens when a property is sold and reevaluated by its present price. Annual totals vary by season in California, where most sells are executed in June and December. Other factors impacting these totals are foreign investment, negative equity status, and interest rates among others.

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