Rebuilding SoCal: Weekly commitment of latest LA fire-related developments | 3/30 - 4/4, 2025

"Rebuilding SoCal" is KCAL News' commitment to holding leaders accountable, getting answers, and showcasing Southern California solidarity and strength in the wake of the Palisades and Eaton Fires. This week, some homeowners say their hopes of returning to their homes are getting pushed back as their insurer, the California Fair Plan, denies or undervalues their claims. Our Kristine Lazar looks into what the Fair Plan covers and if it follows state law. Additionally, the Small Business Administration has offered a grace period for struggling homeowners and businesses looking to apply for low-interest loans. The new deadline is May 30, 2025. Also, TV star and activist Paris Hilton is stepping up to help 50 women-owned businesses affected by the Palisades and Eaton Fires. Plus, our Desmond Shaw gives us a new and fuller perspective of the burn areas from SKYCAL as we approach the three-month mark. KCAL News has partnered with the American Red Cross to help those affected by the LA Fires. If you'd like to donate, go to redcross.org/KCAL

• Apr 4
• 21:31

Los Angeles fire victims get protections from predatory real estate investors under new order from Gov. Newsom

The order targets opportunistic real estate speculators who make unsolicited cash offers well below market value in attempts to exploit victims of the Los Angeles-area fires.

• Jan 14

Mortgage rates fall to lowest since April 2023. Here's where they're headed.

The Average rate for 30-year fixed mortgage now stands at 6.44%, the lowest in 16 months, according to the Mortgage Bankers Association.

• Aug 28, 2024

Zombie mortgages come back to haunt homeowners

Many so-called zombie mortgages date back to the 2008 financial crisis, and consumer advocates warn a new wave of zombies could be on the horizon — this time, from all the home equity credit lines taken out during the pandemic.

• Jul 24, 2024

Cost of buying a home in America reaches a new high, Redfin says

The median mortgage payment jumped to a record $2,843 in April, up nearly 13% from a year ago, a new analysis finds.

• Apr 25, 2024

Realtor group agrees to cut commissions. Here's the financial impact.

The landmark deal, which goes into effect Saturday, could cause real estate fees to drop by as much as 30%, experts say.

• Aug 16, 2024

Biden wants a $10,000 tax credit for homebuyers. Here's what to know.

The White House is proposing a "mortgage relief credit" that would give homebuyers an annual tax credit of $5,000 for two years.

• Mar 11, 2024

The U.S. states where homeowners gained — and lost — equity in 2023

Although home prices have continued to rise across much of the U.S., homeowners in some states saw their home equity shrink.

• Dec 8, 2023

Mystery buyer purchases California ghost town for $22.5 million

Eagle Mountain, founded in 1948, was a bustling company village for Kaiser Steel Mine until its closure in the '80s.

• May 22, 2023

How many jobs do you need to pay rent in L.A.?

It's no secret that Southern California housing is not cheap. But how many jobs do you need to afford rent? Real estate website Zillow crunched the numbers -- and they are startling. Joy Benedict takes an exclusive look.

• Jan 31, 2023

Will 2023 housing market favor buyers?

As we head into 2023, many real-estate experts predict the housing market will start to favor buyers.

• Dec 30, 2022

Average mortgage rates rise after 6 weeks of declines

The average long-term U.S. mortgage rate rose this week after falling for six straight weeks, adding to the challenges potential homebuyers face amid higher home prices and a limited supply of available houses.

• Dec 29, 2022

"A Christmas Story" house hits market — but price is confidential

The Cleveland, Ohio-based home was last bought on eBay in 2004, but has undergone a "massive renovation" since.

• Nov 14, 2022

Mortgage rates top 7%, hitting highest level since 2001

Surge in borrowing costs is pushing some buyers out of the market, while sellers face a quandary.

• Oct 26, 2022

Some real estate markets cooling as mortgage rates hit 20-year high

The average rate on a 30-year fixed-rate mortgage now sits at 6.92%, the highest it has been since 2002.

• Oct 15, 2022

Rising interest rates cools off Southern California's hot real estate market

With interest rates rising another .75%, Southern California's once red-hot real estate market has calmed down. Jeff Nguyen reports.

• Sep 21, 2022
• 02:41

California Dream for All program boosts home ownership

As the ability to afford a home slips farther out of reach for many working people, California is using some of its budget surplus to help struggling home buyers with a new program that puts a down payment on the state's future.

• Jul 27, 2022

Dire U.S. housing shortage isn't only a coastal issue anymore

Home prices are skyrocketing amid a shortage of properties — a crisis spreading to once-affordable towns across the U.S.

• Jul 22, 2022

Celebrity realtor Josh Altman shares his insights on current trends

Josh Altman talked to Amy Johnson about his newest endeavor and what he's seeing in Southern California real estate trends.

• Jul 20, 2022
• 04:29

Business analyst discusses housing market and how to cope with rising rent prices

CBS News Business Analyst Jill Schlesinger joined the studio to discuss the current house market, what to expect with rising rent prices and how to seek relief if available.

• May 27, 2022
• 03:44

New program could help more first-time homebuyers in California

The Forgivable Equity Builder loan helps people who have not been able to save up a hefty down payment. Chris Holmstrom reports.

• May 3, 2022
• 00:24

Helpful tips on how to navigate the housing market

Eric Chavez, founder of Victoria Street Real Estate, talks to CBS2 News This Morning about how to navigate the real estate market.

• Apr 13, 2022
• 03:05

Richard Saghian, Fashion Nova CEO, Confirms Purchase Of Bel Air Mega-Mansion, 'The One'

The megamansion sold for less than a quarter of what developer Niles Niami once suggested would be over $500 million.

• Mar 6, 2022

Top News Stories You Might Not Have Heard About This Week

Here are the top news stories you might not have heard about this week.

• Mar 5, 2022

California Must Build 2.5M Houses By 2030 To Avoid Exacerbating Homeless Crisis, Report Finds

At least one million of those must go to lower-income families.

• Mar 3, 2022

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