Inglewood California Real Estate Activity and Outlook

woodland hills

One thing can be said for certain in light of the St. Louis Rams moving to Inglewood, California, and that is that real estate activity has increased dramatically.  That statement does not necessarily translate into real estate sales as of this moment, but discussions and plans have definitely begun.  As you might suspect, it has also led to speculation and a great many questions.

Without a doubt, real estate companies have noticed, as can be seen in recent ads of existing properties for sale….”within walking distance of the new stadium”……”just north of the new stadium site.”  All of these ads point to an important point, namely that real estate activity, and economic activity, will most likely increase dramatically between now and 2019, the proposed opening of that stadium.

In addition to the stadium, the mixed-used project will include 2,500 residential units, 890,000 square feet of retail, 780,000 square feet of offices, a hotel, casino and a 6,000 seat entertainment venue, so it is not surprising that real estate developers and real estate agents want a piece of that pie.

Is it a good investment?  The right property in the right location is definitely a good investment.  Seasoned buyers know this, and seasoned sellers are also aware that the longer they wait to sell their property the better.

And the same can be said for those in Inglewood debating whether to sell their homes or not.  Now is not the time for a homeowner in Inglewood, California to sell their home.  One thing we are absolutely positive about is that real estate prices will, eventually, rise in Inglewood.  The smart money says to hold onto existing property and homes and wait until a much better price can be had.

Sports Relocation, Inc assists players/coaches of all professional sports leagues including the NBA, WNBA, NFL, MLB, NHL, and entertainers relocate nationwide by servicing their Real Estate & Relocation needs. Ikem Chukumerije is licensed to practice real estate in New York, California, Nevada, Florida, & Georgia. Sports Relocation, Inc operates nationwide and provides elite athlete relocation services in all 50 states and internationally.

 

How to Choose Your Perfect Neighborhood

woodland hills

If buying a home is the single most important financial decision you will make, and it is, then choosing your perfect neighborhood comes in a very close second.  Can you imagine making a huge financial investment only to find the investment is in a neighborhood that does not meet all of your needs?

So, how do you find the perfect neighborhood?

You and your real estate agent do some sleuthing!

The first step is to write down what your perfect neighborhood looks like.  What are you looking for?  What is essential?  Does it need to be a children-friendly neighborhood?  What type of home do you want?  How far do you want to commute?  Do you want to be near recreation opportunities like parks?  And what don’t you want happening in your new neighborhood?

Next, narrow your search down to the neighborhoods that meet your general criteria.  If you already live in that city, you probably already have a good idea about this, but if you are moving to a new city, you’ll have to do some research, and here your real estate agent will be a huge help.

With your search narrowed to a few neighborhoods, do further research about those final choices.  How are the schools in those areas? What are the crime statistics, where are the parks, are there neighborhood associations and so on.

And once all the research is completed, actually get in a car and go visit those final choices.  Walk around those neighborhoods.  Use your five senses to help you.  What is your first impression? What does it sound like in those neighborhoods?  Talk to future neighbors.  Observe the neighborhoods at different times of the day.  Look for any possible warning signs.

Finally, make your decision and rest assured it is the best decision you could make.  You did your due diligence, you researched with a vengeance….now find a home and enjoy!

Sports Relocation, Inc assists players/coaches of all professional sports leagues including the NBA, WNBA, NFL, MLB, NHL, and entertainers relocate nationwide by servicing their Real Estate & Relocation needs. Ikem Chukumerije is licensed to practice real estate in New York, California, Nevada, Florida, & Georgia. Sports Relocation, Inc operates nationwide and provides elite athlete relocation services in all 50 states and internationally.

 

Major Tax Advantage of Buying a Home

Sports Relocation Athlete Relocation

Yesterday we talked about the tax implications of selling a house; it’s only fair that today we turn our attention to the tax implications of buying a home.  With April 15th rapidly approaching, now is the perfect time to talk about one of the greatest tax deductions available.

Is buying a home an expensive proposition?  Most definitely!  Is it stressful and time consuming?  Again, you bet it is!  But…..

There is a caveat, and that caveat appears in the form of a major tax deduction.  When you file your federal and state income taxes, you’ll be able to deduct not only the mortgage interest but also the property taxes, assuming your loan is for one million dollars or less.

Please note that in the early years, your mortgage interest deduction will be more than in later years.  This is because early on in the life of a home loan, almost your entire mortgage payment is interest.  As you own the home for a number of years, the mortgage payment becomes more and more a payment against the principal amount and less interest, but early on in the owning process, your tax deduction can be significant.

So, is it worth it to own a home versus renting a home?  Only you can answer that question.  Our advice is always to speak to your accountant for exact answers about your tax benefits, and find a real estate agent you trust for an honest discussion of advantages and disadvantages of buying a home.

Sports Relocation, Inc assists players/coaches of all professional sports leagues including the NBA, WNBA, NFL, MLB, NHL, and entertainers relocate nationwide by servicing their Real Estate & Relocation needs. Ikem Chukumerije is licensed to practice real estate in New York, California, Nevada, Florida, & Georgia. Sports Relocation, Inc operates nationwide and provides elite athlete relocation services in all 50 states and internationally.

 

Tax Considerations When Selling a House

sports relocation vacation rentals

Buying a house and selling a house, two of the greatest financial decisions the average person will make in a lifetime….having said that, it follows that the more information a person has prior to buying or selling, the better prepared they will be in making the right decision.

Most people, when selling a home, give immediate attention to things like principal, interest, closing costs, down payment and moving costs.  In fact, most people are already looking ahead and beyond the sale to the next  living arrangements and honestly, it is natural to do so.

However, as April 15th approaches, it serves as a reminder of other financial considerations attached to selling a house, namely the tax ramifications and tax benefits..

Federal tax law allows a tax exclusion on capital gains for home sellers if they meet certain criteria.  The main criteria worth noting is that the seller must have used the home as the primary residence for at least two of the previous five years.  This can be a sizeable exclusion, up to $250,000 in profit for single taxpayers and $500,000 for married filing a joint return, but remember that the tax codes change yearly, so check with your accountant for the latest codes.

This exclusion can also be  taken more than once but not within two years of taking the exclusion for another house.  It is also possible to take partial exclusions due to a job loss, a transfer, illness or other unforeseen circumstances such as divorce.

Also remember that if you do have to claim the sale of your house, you can still adjust the tax basis with regards to capital improvements and depreciation.  Again, talk to a professional accountant for the exact nature of deductions.

Sports Relocation, Inc assists players/coaches of all professional sports leagues including the NBA, WNBA, NFL, MLB, NHL, and entertainers relocate nationwide by servicing their Real Estate & Relocation needs. Ikem Chukumerije is licensed to practice real estate in New York, California, Nevada, Florida, & Georgia. Sports Relocation, Inc operates nationwide and provides elite athlete relocation services in all 50 states and internationally.

 

 

Home Options and Decisions in Professional Sports

Sports Relocation Athlete Relocation

Rookie minimum salaries greatly affect home options and decisions in professional sports, a fact that is now being realized by members of the St. Louis Rams as they prepare to move to the greater Los Angeles area.

The general public has this romanticized view of professional sports figures with lavish houses and six cars in the garage, but the truth is that far more players make considerably less in salary and thus must be creative in their housing choices.  No, we are not saying they live in poverty, but we are saying professional athletes, especially those playing on rookie contracts, have important decisions to make regarding short-term and long-term housing.

The minimum wage in Major League Baseball is a little over $507,000.  In the NFL is is $435,000 and the NBA $535,000.  Yes, that is a lot of money, but if you take a look at the housing market in some of the major sports cities in America, you’ll find homes easily over one million on average in the better neighborhoods.  For a rookie, a million dollar home is simply out of his reach, especially if he does not have a guaranteed, long-term contract.

So many young players opt for leasing, at least for the first few years.  Leasing a luxury apartment gives them the luxury they seek at a reasonable price, and also gives them the flexibility to move on and up as their financial situation stabilizes and improves.

Athlete relocation agents and luxury real estate agents are aware of this.  If you have an agent who is pushing hard for you to buy a luxury home, and you don’t feel comfortable with that option, tell them you want to look at leasing, or change agents and find one who understands the leasing option and has a network of leasing options available.

There will be more than enough time for you to buy during your career.  What you need to do, early on, is build your portfolio, stay healthy and live within your means.

Sports Relocation, Inc assists players/coaches of all professional sports leagues including the NBA, WNBA, NFL, MLB, NHL, and entertainers relocate nationwide by servicing their Real Estate & Relocation needs. Ikem Chukumerije is licensed to practice real estate in New York, California, Nevada, Florida, & Georgia. Sports Relocation, Inc operates nationwide and provides elite athlete relocation services in all 50 states and internationally.

 

 

How to Avoid Risks if You Rent your House for Super Bowl 50

9 Ashcroft Backyard

Should you rent your house out for Super Bowl 50?  If so, remember that although it most likely will mean extra income it also comes with risks you need to be aware of.  Happily, you can minimize or eliminate those risks with a little due diligence.

The first decision you must make is whether to list your home yourself or use a professional real estate agent.  The obvious plus to using a professional agent is he/she knows the pitfalls, can avoid them, and also has a network in place for finding high-end renters who need a rental.  The downside of using an agent is you must split the profits with them.

If you decide to rent on your own, here are a few things you can do to minimize risk:

  • Run a background check and a credit check on any renter
  • Make sure you have renters sign a rental agreement. Simple agreements can be found online.
  • Call your insurance agent and make sure your homeowners insurance covers rental damage.
  • Require a security deposit of at least 1.5 times the asking rent; also, require renters to obtain damage-protection insurance.
  • Empty your home of all valuables like jewelry before renting.
  • For an ultra-safe feeling, change all exterior locks before the rental and after the rental has ended.

Are you still sitting on the fence on this decision? Don’t wait too long. The Super Bowl is in a little over two weeks, and the laws of supply and demand dictate now is better than next week.

Need help?  Give us a call!  We have the network in place, we know of people who are looking for a quality lease and we know how to protect you and your property.

Sports Relocation, Inc assists players/coaches of all professional sports leagues including the NBA, WNBA, NFL, MLB, NHL, and entertainers relocate nationwide by servicing their Real Estate & Relocation needs. Ikem Chukumerije is licensed to practice real estate in New York, California, Nevada, Florida, & Georgia. Sports Relocation, Inc operates nationwide and provides elite athlete relocation services in all 50 states and internationally.

 

St. Louis Rams Players Face Relocation Decisions

car transport

The NFL owners have spoken and the St. Louis Rams are moving to Inglewood, an L.A. suburb.  There is still a chance the San Diego Chargers could join them in the rich Los Angeles market and as of this writing, no one can venture a guess what will happen to the Oakland Raiders or where they will finally end up for the 2016 season.

What we do know, for sure, is that the 53-man active roster of the Rams, plus ten practice squad players, plus coaches and main office personnel, will face relocation to the Los Angeles area during the next five months.  Whether they need short-term housing or long-term housing, what cannot be denied is the need for some sort of housing in a new city that offers new challenges.  Many of them will want to arrange for an auto transport.  Many will settle for leasing a vehicle while out in Los Angeles and leaving their own vehicles at home.

Many will need to move all of their possessions to L.A. if they are moving permanently and some will only be moving necessities.

Where do they turn for help with all of this?  Without a doubt, the Ram management will pay for most of those relocations, but the details of the relocation are left to the individuals to handle.

We have a suggestion!

Sports Relocation, Inc assists players/coaches of all professional sports leagues including the NBA, WNBA, NFL, MLB, NHL, and entertainers relocate nationwide by servicing their Real Estate & Relocation needs. Ikem Chukumerije is licensed to practice real estate in New York, California, Nevada, Florida, & Georgia. Sports Relocation, Inc operates nationwide and provides elite athlete relocation services in all 50 states and internationally.

NFL Moves Rams to Inglewood

fish

The NFL owners voted by a resounding 30-2 vote to move the St. Rams to the Los Angeles area next year, ending a twenty-one year drought for the second biggest market in the country.  It is assumed that construction will begin immediately on the new $1.9 billion stadium in Inglewood.

Meanwhile, the fate of the San Diego Chargers and Oakland Raiders remains up in the air.  San Diego has two months to decide whether they will play in Los Angeles for the 2016 season and Oakland?  Their stadium lease has expired, meaning they are free to move anywhere they please, and one location being mentioned loudly and often is San Antonio.

Suffice it to say there is a whole lot of relocation about to happen in the NFL.

Let’s turn our attention to the Ram’s move to Inglewood.  What kind of economic impact will this franchise move have on the Inglewood area?

Interestingly, most economists agree that the economic impact of a sports stadium is about a one percent increase or, as one economists stated, about the same economic impact of a large department store.  Oh sure, this new Inglewood stadium will cost $1.9 billion, and new jobs will be created in the construction of the stadium, but once the Rams settle in and begin playing games there, very little will change in the economy.  This is primarily because the average sports fan has a limited income and limited dollars to spend on entertainment.  They may spend money to go to an NFL game, but that is just money they already earmarked for some sort of entertainment, so the net change is zero.

Where impact is felt is in the businesses closely located near the stadium, the related businesses like sports memorabilia and sports bars.  There  you will see an impact and increase, but the rest of Inglewood?  Economists are doubtful.

One other thing that is almost a certainty is that real estate values will increase near the stadium, and the city of Inglewood will see its tax base increase, all good things for sure for any city.

This is a time of great change in the NFL as well as in three NFL cities.

Questions to Ask When Renting Home for Super Bowl 50

san francisco

If you are planning on attending Super Bowl 50 on February 7th and are considering renting a luxury home for your stay, now it the time to act.  Suitable accommodations are in limited supply and they are going fast, and that means the longer you wait the less to choose from and the more it will cost.

There are a few things to consider before signing a short-term vacation rental lease.  First consider the fact that the game itself is being played in Santa Clara, forty mile south of San Francisco, but most of the pre-game festivities will be in San Francisco.  Which is more important to you, being close to the stadium or being close to the nightlife of San Francisco?

Here are a few questions to ask when considering a vacation rental in that area:

  • How many people are allowed to stay on the property?
  • Are you charged extra if you go over that number?
  • How many people can sleep comfortably in the home?
  • What is the cancellation policy?
  • Is a deposit required and if so, how much?
  • Are utilities included in the rental price?
  • What extra charges may be added to the bill?
  • Is there a cleaning fee or cleaning deposit charged?
  • What all in included in the home?
  • Is internet available?
  • What amenities are nearby?
  • Where is the nearest public transportation?
  • Who is the rental contact in case of problems?

Now is the time to find the answers to these questions, so do your due diligence and research, research and research.

Or give us a call at Sports Relocation, Inc.  We are in the relocation business, short-term and long-term, and finding quality, luxury vacation rentals is something we are very good at.

Sports Relocation, Inc assists players/coaches of all professional sports leagues including the NBA, WNBA, NFL, MLB, NHL, and entertainers relocate nationwide by servicing their Real Estate & Relocation needs. Ikem Chukumerije is licensed to practice real estate in New York, California, Nevada, Florida, & Georgia. Sports Relocation, Inc operates nationwide and provides elite athlete relocation services in all 50 states and internationally.

 

 

A Complete Real Estate Services Company

carlos beltran real estate

If you don’t mind, we would like to draw your attention to our website and in particular the section called “Real Estate Services.”  Since a large part of our job in athlete relocation involved some sort of real estate transaction, we thought we would spend our time today talking about what we mean by “real estate services.”

Once you click on that website link you’ll see a drop down, and on that drop down you’ll first see “featured properties.”  These are properties we are currently listing and they are always quality homes well-worth a look.  Please note that they are not limited to Southern California.  Since we have a broker’s license in six states, and since we are affiliated in all fifty states, we often feature properties in other “living friendly” areas of the country.

Next you’ll see a section called “luxury leases.”  Athlete relocation often calls for a short-term solution to the residence problem, so we have compiled a list of properties that can be leased long-term or short-term until a decision can be made regarding the purchase of a home.

Finally you’ll see a section called “vacation rentals,” and this section is a compilation of homes we know are available to those who are tired of living in hotels during vacation and want all the amenities a luxury home can give.

What we have tried to do is meet your ever need, and we think we have done that based on our vast experience in the athlete relocation business.

Sports Relocation, Inc assists players/coaches of all professional sports leagues including the NBA, WNBA, NFL, MLB, NHL, and entertainers relocate nationwide by servicing their Real Estate & Relocation needs. Ikem Chukumerije is licensed to practice real estate in New York, California, Nevada, Florida, & Georgia. Sports Relocation, Inc operates nationwide and provides elite athlete relocation services in all 50 states and internationally.

 

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