Friday, August 18, 2017

Buying Condos and Vacations Properties in Southern CA




Are you considering purchasing real estate as an investment? If so, you might want to consider buying a waterfront condo or perhaps a vacation property in the desert or mountains.

Southern Californians are fortunate to have the coast, the mountains, and the desert within a two to three-hour drive. That's still close enough to visit (or vacation) if the need or desire arises.

Condos do have the added convenience and expense of Homeowners Associations.  HOAs serve as a third-party watchdog for owners. They also reduce the number of maintenance responsibilities owners must bear. Unlike a single-family home or a multi-family apartment building requiring exterior upkeep, most condo associations cover gardening, exterior maintenance and overall upkeep of the buildings and grounds.



With more retirees moving to condos in a resort or urban area, and the return to the city by many young professionals, I expect the need for upscale rentals in such areas to grow.

Norma Toering 310.493.8333 or Norma@CharlemagneProperties.com

Saturday, July 29, 2017

Coastal Income Units in the South Bay of Los Angeles




I have a client who is in the market to invest approximately $5MM in real estate. He is selling a commercial building and wants to roll the proceeds over into another property. Simple enough.

The dilemma he faces is where to make a long term investment that will require minimum management but provide a decent return on investment. Retail seems like a high-risk venture with the disruption online shopping is creating in the industry. Will gas stations become a thing of the past as the 21st-century advances? As the economic climate changes so do an investors' goals and guidelines.




One thing is certain; people will always require a roof over their head. Housing is here to stay, and the price continues to rise both for purchases and rentals. I recently read over 50 percent of Los Angeles housing units are rentals. Homeownership is simply out of reach for many.

While it's true many people live in rental properties because they cannot afford to purchase, some renters opt to live in a luxury rental for the carefree lifestyle as well as the mobility of a lease over needing to sell a property when it's time to move on to a new job or life adventure.


The growing number of renters ensures the rental market will continue to support investors who choose to invest in multi-family luxury properties in the South Bay of Los Angeles.



Questions? 310.493.8333

Wednesday, March 1, 2017

California Real Estate Updates and Changes for 2017

2017 Real Estate Changes and Updates for California

I attended the Palos Verdes Board of Realtors March Breakfast meeting yesterday. Although breakfast was delicious, my primary reasoning for being there was to hear Gov Hutchison, California Association of Realtors’ attorney, speak regarding trends and changes reflected in California laws and real estate forms. Here are the latest updates:
  1.  There’s a new bedbug form. Yes, those little critters have arrived in our Golden State.  The new disclosure form states landlords must disclose if the property was inspected for bedbugs, and if so, the results of said inspection.  Tenants must tell landlord if the rental property becomes infected; landlord must address issue and eviction of the tenant is not allowed.
  2.  Carbon Monoxide/Plumbing form is now mandatory. Low-flow plumbing fixtures are required; it is seller’s responsibility to disclose whether such upgrades are in place. If the plumbing upgrades are not in place, expect it to become a point of negotiations during the sale.
  3.  Effective January 2018 real estate license numbers are required to appear on signs, websites, and all marketing.
Other timely tidbits of useful information:
Income units are moving toward individual water meters; they are required in new construction. There is a new Water Meter form for use in the sale of income property.
Landlords cannot discriminate due to applicant’s criminal record (within reason), nor refuse because tenant does not speak English.  The landlord should request the tenant have a translator of tenant’s choice.
A new rental rule is a smoke detector is required in every bedroom–one in the hallway will not suffice.  Many local city ordinances have required this for some time.
The housing shortage in California is generating some relaxation in the zoning for two-on-a-lot requirements.  Granny Flats and Tiny Houses are growing in popularity. State guidelines override some city restrictions.
I’m glad I spent the morning receiving an update on new laws and changes in my industry. It’s one of the many ways I bring value and expertise to my client’s transactions. Norma Toering broker/owner of Charlemagne Int’l Properties independent real estate firm.  310.493.8333 or Norma@CharlemagneProperties.com

About the Author: 

Norma Toering is the broker-owner of Charlemagne Intl Properties a boutique real estate company in Los Angeles. She has been a local South Bay real estate agent since 1992. Norma is the most well known & award winning real estate blogger in Palos Verdes. Forbes magazine consulted Norma on Palos Verdes property values when compiling their Forbes 400 list. Cell: 310.493.8333