13 SoCal real estate twists: coronavirus, Prop. 13 change, unsold resorts

on May16
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Here are 13 must-read stories about the local real estate market from the Southern California News Group’s Home Stretch newsletter. To subscribe to the free, twice-weekly email publication, just CLICK HERE!

How coronavirus is hitting the market  …

1. Borrowers get 10 months to repay missed mortgage payments. Thoughts on lending by Jeff Lazerson.

2. Get ready for a re-opening home market. Thoughts on home selling by Leslie Eskildsen.

3. Virus improvement? 80% of renters made May payment. Up slightly from 78% in April.

4. Will California tenants get their own bailout? Renters, landlords lobby for cash for rent checks.

Other real estate twists …

5. Who owns 6 California resorts? Judge sets a trial date for Chinese sellers.

6. Is Prop. 13’s property tax cap in trouble? Voters will decide if commercial real estate loses valuation break.

Let’s look at April data from Realtor.com … 

7. In LA County pending sales fell 25%.

8. In Orange County pending sales off 39%.

9. In Riverside County pending sales fell 29%.

10. In San Bernardino County pending sales down 24%.

Locally speaking …

11. Norwalk: 62-unit, three-story apartments OK’d.

12. Temecula: 2 industrial properties sell for $40 million.

13. Upland: 65 single-family homes approved.

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