- Chernov Team

Our Real Estate Blog

Pet-Friendly Home Improvements: A Smart Investment

We’ve been talking about COVID-19 a lot lately, and we think it’s time to talk about something a little more pleasant; pets. Our furry friends make our lives better and we do our best to make their lives better in return. This becomes even more apparent when people with pets look for homes.  According to a Realtor.com survey, 95% of those asked stated that they considered their pets when picking the right home. Here’s a fun fact, approximately 82% of those surveyed were pet owners, 61% owned dogs, 45% owned cats, 12% owned fish, and 9% owned birds. If you’re looking at those numbers and thinking, “hey, thoseRead Full Post »

Housing Market Will Take Off in 2021: Consider Buying Investment Properties While Prices Are Low

For the last few weeks, we have been saying that the market appears to be picking up in affluent areas like Studio City, Sherman Oaks, Encino, and Tarzana. It appears Forbes believes the entire housing market will see a boom once the brunt of COVID-19 passes. The Forbes article premises this prediction on historical data, which shows Read Full Post »

Tips for Veterans When Buying a Home

It’s Memorial Day, the housing market and the weather are heating up, and we thought today’s article should be directed to our men and women in uniform. Today’s topic? VA Loans. First, and foremost, you want an agent who is familiar with VA loans and the VA system. There are nuances to how theese loans work. Specifically, VA loans require that the property meet their specification; they will send a VA loan appraiser to the property with those requirements in mind. A skilled agent can navigate these complex waters and having your own personal expert will result in you saving real world dollars. The agents at the CRead Full Post »

Bidding Wars: Coming to a Neighborhood Near You

As you may recall, we discussed the extreme interest in homes which are located in affluent neighborhoods like Studio City, Sherman Oaks, Tarzana, and Encino in our last blog post. This position is being echoed in numerous other media outlets, noting an uptick in the market in recent weeks. It appears that the Spring selling season has a few aces up its sleeves, in the form of bidding wars.  It’s not difficult to imagine how we got here. COVID-19 landed on our shores, and both the supply and demand side of the housing market were plunged into chaos. Specifically, the number of active listings dropped by 25% comparedRead Full Post »

Considering Turning Investment Properties into Short-Term Rentals?

You have multiple properties, and just aren’t comfortable placing the extra homes on the market yet; how do you generate an income of these properties? The obvious answer is renting, but there are some COVID-19-related issues you need to be aware of. Put plainly, moving, leasing, and touring properties is different in today’s environment. If you want your investment properties to become money-making machines, you’re going to need to adapt to the times: offer virtual apartment tours, focus on tenant safety, ensure strong communication, etc., This article will briefly discuss these changes.  You should want to keeRead Full Post »

Studio City, Sherman Oaks, Encino, and Tarzana Housing Markets Thriving While National Housing Market Struggles – A Simplified Explanation of Why

The purpose of this article is two-fold. First, the housing market appears to be doing alright in the Studio City, Tarzana, Sherman Oaks, and Encino areas vis-à-vis a large number of interested buyers and historically low mortgage rates. Second, the large number of interested buyers are likely to be the most qualified purchasers, increasing the chances that home sales come to fruition.  To the first point, we all know that mortgage rates are historically low; we’ve discussed this topic ad nauseum. Of course, low mortgage rates are designed to increaseRead Full Post »

“No Fee” Mortgages: Short-Term Loans Are Good, Long-Term Loans Are Bad

A “no fee” mortgage sounds perfect, so you should always take it, right? Not so fast! When something sounds too good to be true, it usually is. This article will briefly discuss the hidden costs of a no fee mortgage.  There is no such thing as a free lunch, and that applies to “no fee” mortgages vis-à-vis higher interest rates. Sure, you don’t pay fees on your mortgage, but you pay significantly more in interest over the lifetime of the loan.  Example: You purchase a $200,000 home and pay (between 2% and 5% of the loan amount in fees - $7,500 if you are payiRead Full Post »

Housing Market to Pick Up Late-Summer/Early Fall; How COVID-19 Has Impacted Predictions for the 2020 Housing Market

If you have felt like 2020 has had so many twists and turns that you don’t know which way is up, then you’re not alone. However, at the Chernov Team we pride ourselves on always being up to date with real estate trends, even if everything else seems just barely out of reach. Naturally, a lot of people are curious about how the housing market will behave for the rest of the year, and we are here to provide a little insight on that subject.  The fact of the matter is the last couple of months have often been challenging, but that could change very quickly in the next few weeks as restrictions are lifted in Los AngelRead Full Post »

Unemployment, Inventory, and the Housing Market in the Near Future

According to the U.S. Bureau of Labor Statistics, unemployment hit 14.7% in April 2020 with roughly 23.1M Americans out of work. Naturally, homeowners looking to sell might wonder what that means for the housing market in the near future.  Many would-be buyers are unable to buy a home simply because they have temporarily lost their jobs and won’t be able to buy when this ends because it will take time to replenish their reserves.  In addition to potential home-buyers’ woes, home sellers are also pulling out of the market as a result of their concern that the current market will result in them taking a loss on theRead Full Post »

The Real Estate Market Will Reopen Soon, and Los Angeles is Poised to Benefit Significantly

On May 7, 2020, Forbes posted an article which reiterated an opinion that real estate should be one of the first businesses to reopen, as the housing market is a key economic multiplier. While the author of this article was discussing countries like the U.K, Italy, and Australia, the point is equally applicable to the U.S. Many states have removed their stay-at-home orders, and others like California have begun phasing them out.  Read Full Post »

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