Hi, I'm Alber Moya, your real estate expert here in the San Fernando Valley. Today I want to talk to you about a topic that has been resonating in our community: the recent wildfires in Los Angeles and their impact on the real estate market. It's been a difficult time for many, and as someone who lives and works here, I'm committed to keeping you informed about how these situations affect our lives and properties.

Price Increase

Since the fires began last Tuesday, we have seen a noticeable increase in rental prices. We know that some landlords and agents have decided to increase prices beyond the 10% allowed by emergency laws in California. I have heard stories of tenants facing increases of between 15% and a shocking 64%. This is concerning, especially for those who were already struggling to find affordable housing.

Effect on Displaced Persons

The fires have left thousands of people homeless, forcing them to seek temporary shelter in an already saturated rental market. This has created additional pressure, and some landlords have taken advantage of the situation, imposing higher rates on those who have no other option. I understand how difficult this situation is and how important it is for us, as a community, to find ways to support those who are displaced.

Regulations and Compliance

Despite Governor Gavin Newsom’s directive to limit rent increases to 10% during the state of emergency, many landlords are not complying. Unfortunately, the onus is on tenants to report these illegal increases, creating a complicated scenario for everyone. As part of my commitment to the community, I am here to offer guidance and assistance to those who need it.

Prolonged Impact

The fires have destroyed more than 9,000 structures, including homes and apartment complexes, intensifying the problems facing the Los Angeles housing market. Forecasts call for higher costs to rebuild, a shortage of contractors, and a potential increase in insurance premiums, which will impact our entire community. As a real estate expert, I am here to help you navigate these changes and find the best solutions.

Reactions and Solutions

Tenant rights advocates and experts are calling for a more aggressive response to curb abusive increases and prevent the crisis from worsening. Proposals include a more streamlined approval system for rebuilding and measures to improve access to affordable housing. I am committed to working with the community to implement practical and effective solutions.

As always, I am here to help you understand these challenges and find opportunities amidst adversity. If you have questions or need guidance on how the fires may be affecting your real estate decisions, please do not hesitate to contact me. My goal is to ensure that you are well informed and prepared to make safe and effective decisions in this changing market.

Remember, I'm Alber Moya, your ally in the San Fernando Valley real estate world. If you're looking for personalized guidance for your housing or investment needs, I'm just a message away. Let's face these challenges together and find the path to a more secure and stable future.