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Now, can I afford to Buy Commercial Property in Los Angeles? Maybe. While prices are no longer zooming out of sight the low ROI doesn’t make Los Angeles the first choice for many Los Angeles commercial real estate investors. That doesn’t mean that you are not poised to take advantage of your local market. A small apartment building allows you to save on mortgage rates by occupying one of the units, a retail center where you locate your business creates an SBA Loan opportunity, and relocation into one of many Enterprise Zones links you to various tax credits and other business related incentives. Explore your options, contact Phyllis Miller at Action Realty.
What's Up with the City of Los Angeles? Zoning and Land Restrictions.
The PLANNING AND LAND USE MANAGEMENT COMMITTEE of the Los Angeles City Council had a meeting recently to discuss the proposed Baseline Mansionization Ordinance. If you will remember the Ordinance would severely restrict the size of home that could be built on R1 parcels in the City of Los Angeles .
Even though this is not the final stop for this legislation, this is of utmost importance for the Realtors and Property Owners. The Council's original change to the Planning Department was to craft an ordinance that would stop large homes from being built in Los Angeles . With the complaints we have already articulated - the Council position seems to be softening. The Planning Department will do what the Council directs. If you have concerns, please contact Ed Reyes, Jack Weiss, or Jose Huizar of the Los Angeles City Council.
Is it Profitable to be GREEN? What do the Experts say?
Proposed Legislation Could Severely Impact Landlords
Although Senator Kuel placed her bill (SB 464) in the inactive file on June 7th, that doesn't preclude it being reintroduced in 2008. The bill sought to place the state's problem of affordable housing squarely on the shoulders of landlords and private property owners. Section 7060 of the Government Code basically says that no public entity can force a residential property owner, who has owned the property for at least three years, to offer or continue to offer the property for rent or lease. SB 464 would limit those protections. But, while a lack of support for this bill lead to its withdrawal this year, I am advising clients and their advisors to watch for a possible reintroduction next year. Click on the link below for full description of bill.
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