1 00:00:00,360 --> 00:00:03,400 Speaker 1: It's KFI AM six forty and you're listening to the 2 00:00:03,480 --> 00:00:05,400 Speaker 1: Conway Show on demand on. 3 00:00:05,400 --> 00:00:11,280 Speaker 2: The iHeartRadio app. When I first started working here at KFI, 4 00:00:11,520 --> 00:00:13,920 Speaker 2: Jason Sloko was a producer and he also produced the 5 00:00:13,960 --> 00:00:18,040 Speaker 2: show over at k KXLS and KLRA. We sure did 6 00:00:18,120 --> 00:00:21,959 Speaker 2: coming down in three and he's with us. Nice to 7 00:00:21,960 --> 00:00:26,080 Speaker 2: see him, mam. And your great son, Spencer, who is 8 00:00:26,320 --> 00:00:29,480 Speaker 2: exactly like you. He talks like you, looks like you. 9 00:00:29,640 --> 00:00:32,080 Speaker 3: He is you is He's much better than I am, 10 00:00:32,159 --> 00:00:35,080 Speaker 3: and especially at that age, I was putting a sentence together. 11 00:00:35,200 --> 00:00:39,200 Speaker 2: Yeah, but I mean, Spencer, how old are you? Let's 12 00:00:39,240 --> 00:00:41,960 Speaker 2: put that on. I'm twelve, you're twelve, man, But that 13 00:00:42,040 --> 00:00:44,920 Speaker 2: a sense of humor at twelve is great? Is great. 14 00:00:45,320 --> 00:00:47,120 Speaker 2: I was shy when I was twelve. I didn't talk 15 00:00:47,159 --> 00:00:50,240 Speaker 2: to anybody. I was paralyzed with shyness. Until I was 16 00:00:50,240 --> 00:00:53,559 Speaker 2: about fifteen. I wouldn't talk to anybody. That was the worst. 17 00:00:53,960 --> 00:00:56,240 Speaker 2: All right, let's talk about real estate. You left radio 18 00:00:56,320 --> 00:00:58,440 Speaker 2: to get into real estate and how you become this 19 00:00:58,560 --> 00:01:02,600 Speaker 2: mogul like you almost apartment your eyes. I'm a mogul, 20 00:01:02,680 --> 00:01:04,600 Speaker 2: so I guess I am? Yes? You are? You are? Yes? 21 00:01:04,800 --> 00:01:07,920 Speaker 2: But you own Sterling of Radio real estates. Yes, and 22 00:01:07,959 --> 00:01:11,400 Speaker 2: you own most of the apartments in the San Ferneavlly. 23 00:01:10,800 --> 00:01:13,400 Speaker 3: Yeah, I was not a majority, not all of them, 24 00:01:13,480 --> 00:01:15,080 Speaker 3: but yes, over fifty percent. 25 00:01:17,040 --> 00:01:19,319 Speaker 2: All right, what's going on with real estate? I know 26 00:01:19,360 --> 00:01:21,840 Speaker 2: that's a vague area and a vague question. Is that 27 00:01:21,920 --> 00:01:24,800 Speaker 2: a seller's market or a buyer's market? 28 00:01:24,880 --> 00:01:27,960 Speaker 3: It is definitely a buyer's market at this point, and 29 00:01:28,040 --> 00:01:30,400 Speaker 3: people may ask, wow, does that mean prices are down 30 00:01:31,400 --> 00:01:34,760 Speaker 3: a little bit but nothing really meaningful, But it's certainly 31 00:01:34,800 --> 00:01:37,679 Speaker 3: things are staying on the market fifty days plus. 32 00:01:37,480 --> 00:01:39,559 Speaker 2: Oh, it's out and what it used to be twelve 33 00:01:39,640 --> 00:01:40,320 Speaker 2: day under forty. 34 00:01:40,319 --> 00:01:41,840 Speaker 3: I mean, when the market's really good, it's you know, 35 00:01:42,319 --> 00:01:44,880 Speaker 3: under twenty days to thirty days. It was those sellers 36 00:01:44,920 --> 00:01:46,320 Speaker 3: markets of twenty twenty one. 37 00:01:46,520 --> 00:01:49,040 Speaker 2: Do you remember back in the in the good old days, 38 00:01:49,040 --> 00:01:52,920 Speaker 2: when it was really a seller's market. A house would 39 00:01:52,960 --> 00:01:55,680 Speaker 2: go a listing would go up on Thursday and they'd 40 00:01:55,720 --> 00:01:57,120 Speaker 2: have twelve offers on Friday. 41 00:01:57,400 --> 00:02:01,000 Speaker 3: Yeah, those days don't exist unless something is price like 42 00:02:01,120 --> 00:02:04,000 Speaker 3: hyper competitively and where they're going to get you know, 43 00:02:04,120 --> 00:02:07,160 Speaker 3: bid over asking price. But those days aren't happening right 44 00:02:07,200 --> 00:02:09,800 Speaker 3: now now. If you're looking at the price point between 45 00:02:09,840 --> 00:02:14,000 Speaker 3: like a nine hundred a million million one, which now 46 00:02:14,080 --> 00:02:15,800 Speaker 3: is considered more in the lower end, right, I mean 47 00:02:15,840 --> 00:02:19,440 Speaker 3: it's not crazy, Yeah it is, and that those properties, 48 00:02:19,480 --> 00:02:22,120 Speaker 3: I mean they're still they're still transacting, and there's definitely 49 00:02:22,160 --> 00:02:24,840 Speaker 3: a market for it because at this point with prices, 50 00:02:24,880 --> 00:02:26,839 Speaker 3: it's still considered almost like a you know, first time 51 00:02:27,000 --> 00:02:31,679 Speaker 3: entry point. And so if those are priced correctly and 52 00:02:32,480 --> 00:02:36,399 Speaker 3: the sellers are willing to work with buyers on concessions 53 00:02:36,440 --> 00:02:39,320 Speaker 3: and repairs and that kind of thing, you could definitely 54 00:02:39,400 --> 00:02:42,120 Speaker 3: you're definitely going to get your price. But the problem 55 00:02:42,160 --> 00:02:45,200 Speaker 3: is the mindset still is sellers are stuck on twenty 56 00:02:45,280 --> 00:02:46,240 Speaker 3: twenty one prices. 57 00:02:46,560 --> 00:02:48,640 Speaker 2: Yeah, it's not to happening and yeah, and that's just 58 00:02:48,680 --> 00:02:49,280 Speaker 2: not happening. 59 00:02:49,320 --> 00:02:52,320 Speaker 3: So if you're if the sellers are more realistic, especially 60 00:02:52,320 --> 00:02:54,160 Speaker 3: if things have been on the market longer, like in 61 00:02:54,200 --> 00:02:56,560 Speaker 3: a seller's market, if something's been on the market, you know, 62 00:02:56,680 --> 00:02:59,639 Speaker 3: fifty sixty days, it's like, oh, you know, that's something 63 00:02:59,760 --> 00:03:00,680 Speaker 3: wrong with that property. 64 00:03:00,680 --> 00:03:01,760 Speaker 2: It's why isn'es its selling? 65 00:03:01,760 --> 00:03:04,120 Speaker 3: It's crazy, right, But in this market, when something is 66 00:03:04,120 --> 00:03:06,640 Speaker 3: sat that long, you know, as a buyer, you have 67 00:03:06,680 --> 00:03:10,200 Speaker 3: a better chance of that the seller actually engaging in 68 00:03:10,600 --> 00:03:13,160 Speaker 3: some type of you know, a negotiation for the price, 69 00:03:13,200 --> 00:03:15,359 Speaker 3: and it just could be that they're just more patient 70 00:03:15,400 --> 00:03:15,960 Speaker 3: they have to be. 71 00:03:16,360 --> 00:03:19,959 Speaker 2: You know, I heard this about Los Angeles that it's 72 00:03:20,040 --> 00:03:23,320 Speaker 2: the highest level in the world of any market in 73 00:03:23,360 --> 00:03:27,400 Speaker 2: the world of curb appeal. Ninety five percent of the 74 00:03:27,400 --> 00:03:29,239 Speaker 2: people will drive by a house and if they don't 75 00:03:29,280 --> 00:03:30,560 Speaker 2: like the way it looks, they're not going in to 76 00:03:30,680 --> 00:03:32,080 Speaker 2: even look at it. It is. 77 00:03:32,160 --> 00:03:35,119 Speaker 3: And it's amazing how in this you know day and age, 78 00:03:35,160 --> 00:03:38,440 Speaker 3: when we've had online listings now for what almost thirty years, right, 79 00:03:38,800 --> 00:03:42,080 Speaker 3: these some of the poor photographs or these descriptions that 80 00:03:42,080 --> 00:03:44,440 Speaker 3: are just you know, some of them are non existing. 81 00:03:44,480 --> 00:03:46,480 Speaker 3: They don't put anything, or it's misspelled. 82 00:03:46,040 --> 00:03:48,040 Speaker 2: Or or they don't clean the house up. Yeah, I 83 00:03:48,040 --> 00:03:50,800 Speaker 2: mean literally, there's there's like plates of food in the 84 00:03:50,840 --> 00:03:51,840 Speaker 2: pictures of the house. 85 00:03:52,040 --> 00:03:55,040 Speaker 3: Yeah, the bed's unmade, I mean that's right. There's all 86 00:03:55,120 --> 00:03:57,280 Speaker 3: kinds of things they could do to tidy that up 87 00:03:57,320 --> 00:03:59,720 Speaker 3: for you know, five minutes before they shoot it. But 88 00:03:59,760 --> 00:04:02,240 Speaker 3: that's where you can gain the competitive advantage. And it's 89 00:04:02,280 --> 00:04:07,720 Speaker 3: still very much you know, human emotional activity that is, 90 00:04:07,920 --> 00:04:09,800 Speaker 3: you know, still guided by you know, these kind of 91 00:04:09,800 --> 00:04:13,760 Speaker 3: financial constraints of course, and lending and that kind of thing. 92 00:04:13,840 --> 00:04:17,840 Speaker 2: But what what are rates? What are about six point 93 00:04:18,120 --> 00:04:21,800 Speaker 2: two six point two five, which still historically are unbelievable. 94 00:04:22,279 --> 00:04:24,880 Speaker 3: They are, and they were even better, you know, a 95 00:04:24,920 --> 00:04:27,880 Speaker 3: month ago, and they've ticked up slightly, but yeah, they're 96 00:04:27,880 --> 00:04:29,800 Speaker 3: better than they were two years ago. 97 00:04:29,839 --> 00:04:31,599 Speaker 2: I mean, that's a teaser rate for a credit card 98 00:04:31,640 --> 00:04:33,599 Speaker 2: and you're buying a million dollar house on it, you know. 99 00:04:33,640 --> 00:04:36,120 Speaker 2: But when I was growing up, the million dollar homes 100 00:04:36,520 --> 00:04:40,720 Speaker 2: were in the in Tarzana and Sino Sherman Oak Studio 101 00:04:40,800 --> 00:04:44,159 Speaker 2: City in the Hills. Those are million dollar homes. Now, 102 00:04:44,480 --> 00:04:48,240 Speaker 2: million dollar homes are our way, are across the entire valley, 103 00:04:48,680 --> 00:04:50,840 Speaker 2: you know, and like even like the worst parts of 104 00:04:50,880 --> 00:04:53,080 Speaker 2: the valley, but single family home is over million. 105 00:04:53,200 --> 00:04:55,000 Speaker 3: Yeah, And that's what's interesting you bring up the valley 106 00:04:55,000 --> 00:04:57,680 Speaker 3: because a place like West Hills that it has always been 107 00:04:57,720 --> 00:04:59,520 Speaker 3: a nice area, but you know, it's been you know, 108 00:04:59,560 --> 00:05:03,520 Speaker 3: it's been affordable to get into there in comparison to 109 00:05:03,640 --> 00:05:06,040 Speaker 3: other parts of the valley. Uh, it's you know, it's 110 00:05:06,080 --> 00:05:07,599 Speaker 3: really gone up in price a lot. I mean, it 111 00:05:07,600 --> 00:05:09,880 Speaker 3: has increased in price where everything else is static. Or 112 00:05:09,880 --> 00:05:13,320 Speaker 3: has gone down slightly. It is increased because it's it's 113 00:05:13,400 --> 00:05:17,520 Speaker 3: more affordable than calabasas you know, Agora, and it's still 114 00:05:17,520 --> 00:05:20,960 Speaker 3: accessible to those areas, but Calabasa is off the charts. 115 00:05:21,000 --> 00:05:22,560 Speaker 3: It's off the charts. So it's like you could still 116 00:05:22,560 --> 00:05:25,520 Speaker 3: get into West Hills maybe for mid nines, you know, 117 00:05:25,600 --> 00:05:28,640 Speaker 3: high nines, and get a decent little, you know, starter 118 00:05:28,720 --> 00:05:29,239 Speaker 3: home there. 119 00:05:29,480 --> 00:05:33,599 Speaker 2: Do people with kids still look at school districts, yes, 120 00:05:33,720 --> 00:05:35,039 Speaker 2: where they when they're buying the. 121 00:05:35,040 --> 00:05:37,719 Speaker 3: Absolutely do and you can see the price differential. It's 122 00:05:37,839 --> 00:05:40,359 Speaker 3: especially stark now in Culver City because there's parts of 123 00:05:40,680 --> 00:05:43,960 Speaker 3: Culver City that are l A U s D zoned 124 00:05:44,000 --> 00:05:47,479 Speaker 3: and there's Culver City school districts. So it's the Culver 125 00:05:47,560 --> 00:05:49,760 Speaker 3: City School District a good one, Yeah it is. 126 00:05:49,800 --> 00:05:52,760 Speaker 2: It's it's a coveted one. But what Laca Nat is 127 00:05:52,760 --> 00:05:56,000 Speaker 2: another one that's great. Burbank's good too, Burbank's good. Yes, 128 00:05:56,080 --> 00:05:58,360 Speaker 2: they're they're good. I mean in l A U s D. 129 00:05:58,520 --> 00:06:01,800 Speaker 3: There's some some great like Magnet and the charter schools 130 00:06:01,800 --> 00:06:03,800 Speaker 3: have mixed things up a little bit so that it's 131 00:06:03,920 --> 00:06:05,840 Speaker 3: not as dependent on where you're districted. 132 00:06:06,160 --> 00:06:07,960 Speaker 2: Right, But if you're like let's say you have four 133 00:06:08,040 --> 00:06:10,760 Speaker 2: kids and you move to you know, Culver City or 134 00:06:10,839 --> 00:06:14,400 Speaker 2: Lacagnat at Burbank, you know, one of you know, Pasadena, 135 00:06:14,440 --> 00:06:17,640 Speaker 2: maybe Arcadia, and you can use the local schools with 136 00:06:18,000 --> 00:06:20,320 Speaker 2: four kids, that might save you one hundred thousand dollars 137 00:06:20,360 --> 00:06:22,679 Speaker 2: a year in private school education. 138 00:06:23,080 --> 00:06:25,560 Speaker 3: Well, if you look at yeah, these these these private, 139 00:06:26,360 --> 00:06:30,279 Speaker 3: non religious affiliated schools, you're looking anywhere between forty and 140 00:06:30,279 --> 00:06:33,200 Speaker 3: fifty thousand dollars. Yeah, the high one for first grade, 141 00:06:33,240 --> 00:06:35,240 Speaker 3: second grade, third grade, I mean, and that's pretty much 142 00:06:35,240 --> 00:06:37,920 Speaker 3: all of them, unless they're are just religiously affiliated. Then 143 00:06:37,960 --> 00:06:40,920 Speaker 3: you know Catholic schools, Christian Jewish schools, they're much less. 144 00:06:40,920 --> 00:06:45,359 Speaker 3: But just your private like by Campbell Hall, yeah, or yeah, exactly, 145 00:06:45,480 --> 00:06:47,680 Speaker 3: or you know the country school in Valley Village. 146 00:06:47,839 --> 00:06:50,040 Speaker 2: Oh, this looks so modest from the outside. How much 147 00:06:50,080 --> 00:06:53,520 Speaker 2: did this be? Forty thousand dollars? Great? Right, and that's 148 00:06:53,560 --> 00:06:56,960 Speaker 2: forty thousand after tax, dollars after tax, that's that's a 149 00:06:57,040 --> 00:06:59,680 Speaker 2: seventy thousand dollars pay check. And that is going just 150 00:06:59,680 --> 00:07:00,320 Speaker 2: to that school. 151 00:07:00,400 --> 00:07:02,240 Speaker 3: Yeah, I'm not sure which one it is Buckley or 152 00:07:02,279 --> 00:07:03,719 Speaker 3: which one it is here in the valley. You know, 153 00:07:03,720 --> 00:07:06,000 Speaker 3: you've got like RV's in front of it, and you know. 154 00:07:05,960 --> 00:07:09,240 Speaker 2: It's oh really it's yeah, it's like okay, and then 155 00:07:09,240 --> 00:07:10,760 Speaker 2: it's like, but how much does it cost there? Yeah, 156 00:07:10,800 --> 00:07:13,160 Speaker 2: forty five thousand dollars for second grade. Yeah, and that's 157 00:07:13,200 --> 00:07:16,360 Speaker 2: going up. That's ridiculous. I mean I understand later on 158 00:07:16,760 --> 00:07:20,160 Speaker 2: maybe high school, you know, maybe junior high. But to 159 00:07:20,200 --> 00:07:23,000 Speaker 2: spend forty thousand dollars a year for a first grader 160 00:07:23,160 --> 00:07:24,840 Speaker 2: is and you're still getting hit up all the time 161 00:07:24,840 --> 00:07:27,400 Speaker 2: for fundraisers. It doesn't stop. Well, there's a private school 162 00:07:27,440 --> 00:07:28,920 Speaker 2: and I'm not gonna say which one because I got 163 00:07:28,920 --> 00:07:31,440 Speaker 2: in trouble for saying which one last time, but a 164 00:07:31,440 --> 00:07:32,960 Speaker 2: friend of mine had a couple of kids in this 165 00:07:33,040 --> 00:07:36,600 Speaker 2: private school and every other month they send out a 166 00:07:36,640 --> 00:07:40,120 Speaker 2: flyer with how much the family donated, and if your family, 167 00:07:40,200 --> 00:07:43,360 Speaker 2: the Insulaco family donated zero, it would say Jason in 168 00:07:43,440 --> 00:07:47,240 Speaker 2: Sulaco and then dash zero. It would tell everybody you 169 00:07:47,240 --> 00:07:51,960 Speaker 2: didn't donate. Yeah, that's incredible, total shame. Yeah, it's the worst. Yeah, 170 00:07:51,960 --> 00:07:55,920 Speaker 2: that is ridiculous. That's right, Spencer, that's right, man. You 171 00:07:56,000 --> 00:07:58,320 Speaker 2: are your father's kid. All right, we got to take 172 00:07:58,320 --> 00:08:00,320 Speaker 2: a break. We'll come back and talk more about realist state. 173 00:08:00,720 --> 00:08:03,000 Speaker 2: I want to ask you what do you think is 174 00:08:03,120 --> 00:08:06,280 Speaker 2: a better and a closer estimate when it comes to 175 00:08:06,320 --> 00:08:10,600 Speaker 2: property value? Do you like Zillow or what's the other one? 176 00:08:10,680 --> 00:08:14,920 Speaker 2: Red um, oh, the red red Finn Red Finn. All right, 177 00:08:14,960 --> 00:08:16,920 Speaker 2: when we come back, we'll ask you which one you 178 00:08:16,960 --> 00:08:20,280 Speaker 2: think is more accurate or Realature dot Com is also 179 00:08:20,320 --> 00:08:20,920 Speaker 2: another one. 180 00:08:21,520 --> 00:08:25,920 Speaker 4: You're listening to Tim Conwaytunire on demand from KFI AM 181 00:08:25,960 --> 00:08:26,520 Speaker 4: six forty. 182 00:08:27,880 --> 00:08:32,720 Speaker 2: Don't forget your back to back World Champion Dodgers take 183 00:08:32,720 --> 00:08:36,720 Speaker 2: on the Padres at Camelback Ranch. Listen to every single 184 00:08:37,040 --> 00:08:41,040 Speaker 2: play of every Dodger game on AM five to seventy. 185 00:08:41,200 --> 00:08:45,040 Speaker 2: LA Sports Now at Verizon you can lock in your 186 00:08:45,080 --> 00:08:48,400 Speaker 2: low price for three years so you can visit and 187 00:08:48,559 --> 00:08:53,120 Speaker 2: save big. Go to SoCal Verizon store today. Go to 188 00:08:53,160 --> 00:08:58,200 Speaker 2: your SoCal Verizon store and save yourself some money. All right. 189 00:08:58,280 --> 00:09:00,559 Speaker 2: Jason slock Is with us used to produce a radio here. 190 00:09:00,559 --> 00:09:05,520 Speaker 2: He went into real estate and owns the Valley Great Move, Redfin, 191 00:09:05,800 --> 00:09:09,280 Speaker 2: real Mature or Zillo. What's the most accurate number with 192 00:09:09,840 --> 00:09:11,040 Speaker 2: the property value? 193 00:09:11,120 --> 00:09:14,720 Speaker 3: In my experience, it's Redfin. Sometimes Redfin will even be 194 00:09:14,840 --> 00:09:19,000 Speaker 3: on the lower side. Zillo, especially you know, in the 195 00:09:19,080 --> 00:09:23,600 Speaker 3: last few years, is grossly overestimating values in this market. 196 00:09:23,920 --> 00:09:26,360 Speaker 2: A friend of mine has a house odd currently selling it, 197 00:09:26,440 --> 00:09:29,080 Speaker 2: and the difference between Redfin and Zilla is four hundred 198 00:09:29,200 --> 00:09:32,520 Speaker 2: thousand dollars. Really, yeah, it's a two point one million 199 00:09:32,960 --> 00:09:36,600 Speaker 2: on Zillo and seven hundred thousand or no, eight hundred 200 00:09:36,600 --> 00:09:39,280 Speaker 2: thousand or seven hundred thousand on Redfin. 201 00:09:39,760 --> 00:09:42,960 Speaker 3: Well, you know the thing is with Zillo also, you 202 00:09:42,960 --> 00:09:45,080 Speaker 3: could say, okay, this is giving you this price, and 203 00:09:45,120 --> 00:09:47,000 Speaker 3: then you could listen to that price and then Zillo 204 00:09:47,480 --> 00:09:49,559 Speaker 3: and put it for the exact price that Zillo said 205 00:09:49,920 --> 00:09:53,160 Speaker 3: it was an estimate estimate, and it'll it'll then show 206 00:09:53,240 --> 00:09:57,200 Speaker 3: the actual price estimate being like five percent less than that. 207 00:09:57,320 --> 00:10:01,679 Speaker 2: Really yes, wow, yeah, that's odd. It really is odd. 208 00:10:01,800 --> 00:10:03,959 Speaker 2: Isn't Zillo a local company? Aren't they in like thousand 209 00:10:03,960 --> 00:10:06,880 Speaker 2: Oaks or Yeah, I don't know, I think they are. 210 00:10:07,280 --> 00:10:11,560 Speaker 2: All right, let's talk about people rents. I know they're 211 00:10:11,559 --> 00:10:13,720 Speaker 2: always talking about rent control. Every time I go to 212 00:10:14,080 --> 00:10:16,840 Speaker 2: Target or Walmart, people are asking me to sign you 213 00:10:16,840 --> 00:10:20,480 Speaker 2: know these rent control uh you know, propositions and try 214 00:10:20,480 --> 00:10:23,120 Speaker 2: to get this on the ballot. You are of the belief, 215 00:10:23,200 --> 00:10:27,120 Speaker 2: and I think you're right that that really kills a market. Yeah. 216 00:10:27,160 --> 00:10:30,200 Speaker 3: I mean economic economists of both on both sides of 217 00:10:30,240 --> 00:10:32,800 Speaker 3: the political aisle for for decades have studied it and 218 00:10:32,840 --> 00:10:38,720 Speaker 3: shown that it actually increases prices, restricts supply, and will 219 00:10:38,760 --> 00:10:42,120 Speaker 3: increase rents at the fastest rate possible. 220 00:10:42,840 --> 00:10:45,040 Speaker 2: Yeah, because you have to increase your rent to stay, 221 00:10:45,160 --> 00:10:47,120 Speaker 2: you know, four percent a year when a lot of 222 00:10:47,120 --> 00:10:49,080 Speaker 2: these places never increase rent. Yeah. 223 00:10:49,120 --> 00:10:53,839 Speaker 3: And you know, having some you know, reasonable rent restrictions 224 00:10:53,840 --> 00:10:57,920 Speaker 3: seems seems like that's that could work. But you know 225 00:10:58,080 --> 00:10:59,440 Speaker 3: that you have in New York City, you have in 226 00:10:59,679 --> 00:11:03,360 Speaker 3: LA and now really much of Ellie County now could 227 00:11:03,360 --> 00:11:05,760 Speaker 3: be prohibitive, and not just in terms of limiting the 228 00:11:05,800 --> 00:11:10,320 Speaker 3: increases or eliminating the increases for new projects too. Yeah yeah, 229 00:11:10,360 --> 00:11:12,920 Speaker 3: new projects. But see those always get you know, they 230 00:11:12,920 --> 00:11:15,520 Speaker 3: always get exemptions. So oh wait they do. I didn't 231 00:11:15,520 --> 00:11:17,880 Speaker 3: know that for how long. So so all of a sudden, 232 00:11:17,880 --> 00:11:21,000 Speaker 3: every like country club Republican, he was like, you know, 233 00:11:21,080 --> 00:11:24,160 Speaker 3: government off my back. Become like you know, affordable housing 234 00:11:24,200 --> 00:11:26,600 Speaker 3: developers that are just just just playing the game. 235 00:11:26,800 --> 00:11:29,600 Speaker 2: You know, everybody's doing that. Now, everybody's playing the game. 236 00:11:29,640 --> 00:11:32,600 Speaker 2: Trying to rip off were a great public private partnership 237 00:11:32,640 --> 00:11:35,480 Speaker 2: and providing much needed housing throughout Los Angeles. It's just 238 00:11:35,520 --> 00:11:37,360 Speaker 2: a bunch of it's it's a scam. I think it's 239 00:11:37,360 --> 00:11:38,160 Speaker 2: going to start. 240 00:11:38,280 --> 00:11:40,920 Speaker 3: Unwinding and more of these guys are start You are 241 00:11:41,040 --> 00:11:43,160 Speaker 3: going to get I think taken down. Oh good, have 242 00:11:43,320 --> 00:11:45,600 Speaker 3: had good some of these guys doing it, you know, 243 00:11:45,679 --> 00:11:47,760 Speaker 3: going down, and I think it's going to continue. 244 00:11:48,040 --> 00:11:51,440 Speaker 2: You know, I want to ask you you're familiar with this. 245 00:11:51,720 --> 00:11:56,040 Speaker 2: When there's a dispute between a landlord and a tenant, 246 00:11:56,480 --> 00:11:59,480 Speaker 2: it seems to me like the courts downtown side with 247 00:11:59,559 --> 00:12:02,000 Speaker 2: the tenant close to one hundred percent of the time. 248 00:12:03,480 --> 00:12:07,280 Speaker 3: It is a tenant friendly jury pool for sure. And 249 00:12:07,679 --> 00:12:10,160 Speaker 3: a bench I mean the judges, if you decide for 250 00:12:10,160 --> 00:12:12,920 Speaker 3: a bench trial, I mean they're gonna also generally side 251 00:12:12,960 --> 00:12:15,400 Speaker 3: with the tenants. With that being said, I mean rents 252 00:12:15,440 --> 00:12:19,240 Speaker 3: are soft right now, They're much lower. They're much lower, 253 00:12:19,280 --> 00:12:21,920 Speaker 3: which is ironic, and it runs in cycles. Usually the 254 00:12:21,960 --> 00:12:24,800 Speaker 3: most prohibitive rent control seems to always come at the 255 00:12:24,840 --> 00:12:28,640 Speaker 3: time when the market is actually really correcting itself, really right. 256 00:12:28,679 --> 00:12:30,800 Speaker 3: So then what happens is everyone then starts to raise 257 00:12:30,840 --> 00:12:33,000 Speaker 3: because because well, we can only raise it two percent, 258 00:12:33,120 --> 00:12:36,120 Speaker 3: even though they might actually rents might actually be going down. 259 00:12:36,200 --> 00:12:38,840 Speaker 2: What is the reason why they're because I when I 260 00:12:38,920 --> 00:12:43,120 Speaker 2: drive around Burbank, I never especially during COVID, I didn't 261 00:12:43,120 --> 00:12:45,800 Speaker 2: see one vacancy signed for three years. Now I see 262 00:12:45,960 --> 00:12:46,760 Speaker 2: ten of them a day. 263 00:12:47,720 --> 00:12:51,400 Speaker 3: Yeah, I mean, you know, things, there's less people in 264 00:12:51,440 --> 00:12:53,480 Speaker 3: the areas, more people leaving than coming in right now. 265 00:12:53,800 --> 00:12:56,120 Speaker 3: But with that being said, the exodus I think has 266 00:12:56,120 --> 00:12:58,679 Speaker 3: slowed considerably, and I think more people are coming in 267 00:12:58,920 --> 00:13:00,480 Speaker 3: right And that's always been then each of it, but 268 00:13:00,520 --> 00:13:03,160 Speaker 3: it certainly has been magnified by it. 269 00:13:03,240 --> 00:13:05,199 Speaker 2: But also a lot of these very you know, these 270 00:13:05,280 --> 00:13:07,800 Speaker 2: high paying jobs are disappearing too. I mean we just 271 00:13:07,880 --> 00:13:09,960 Speaker 2: saw this today and I don't know, you're a big 272 00:13:10,280 --> 00:13:14,160 Speaker 2: radio bowl, like I am, CBS News radio is going 273 00:13:14,200 --> 00:13:18,240 Speaker 2: out of business. I mean that's seven hundred high paying jobs. 274 00:13:18,600 --> 00:13:21,720 Speaker 3: Yeah, I mean they're not all here, but yeah, I 275 00:13:21,760 --> 00:13:23,280 Speaker 3: think a lot of those are in New York right 276 00:13:23,320 --> 00:13:26,040 Speaker 3: in the east coast. But yeah, And there's the thing 277 00:13:26,040 --> 00:13:29,080 Speaker 3: that's interesting is you have markets like on the east side, 278 00:13:29,200 --> 00:13:34,960 Speaker 3: Highland Park, silver Lake, Echo Park, those that market actually 279 00:13:35,000 --> 00:13:38,880 Speaker 3: is very vibrant right now and is because there isn't 280 00:13:38,880 --> 00:13:41,280 Speaker 3: a lot of supply because the single family homes a 281 00:13:41,320 --> 00:13:43,520 Speaker 3: lot of the below the line or people that are 282 00:13:44,240 --> 00:13:45,839 Speaker 3: you know, there's always above and below the line. I 283 00:13:45,880 --> 00:13:47,599 Speaker 3: think it's both kind offensive, right, but like in the 284 00:13:47,640 --> 00:13:49,600 Speaker 3: middle of the road, kind of like people that work 285 00:13:49,920 --> 00:13:54,400 Speaker 3: in the entertainment industry, right, working actors, screenwriters, they bought 286 00:13:54,440 --> 00:13:56,640 Speaker 3: their houses, you know, maybe about their homes maybe fifteen 287 00:13:56,679 --> 00:13:59,280 Speaker 3: twenty years ago, so you still have the little interest rate, 288 00:13:59,400 --> 00:14:02,840 Speaker 3: have equity, so they've been able to really survive and 289 00:14:03,120 --> 00:14:06,559 Speaker 3: remain in LA and also restrict supply when you have 290 00:14:06,640 --> 00:14:11,079 Speaker 3: those kind of mid level like executive price points, you 291 00:14:11,120 --> 00:14:13,360 Speaker 3: know to say above like two three four million. 292 00:14:13,160 --> 00:14:14,720 Speaker 2: Dollars, right like the Melrose area. 293 00:14:14,800 --> 00:14:18,559 Speaker 3: Yeah, I mean those those are are definitely more distressed 294 00:14:18,559 --> 00:14:21,400 Speaker 3: in terms of pricing and being more I want to 295 00:14:21,440 --> 00:14:25,200 Speaker 3: say distressed pricing, but definitely they're more of them and 296 00:14:25,240 --> 00:14:26,520 Speaker 3: the market is softer for them. 297 00:14:26,600 --> 00:14:28,560 Speaker 2: You know what I thought, Jason slock is with us 298 00:14:28,560 --> 00:14:30,760 Speaker 2: we talk about real estate. I think it's a beautiful 299 00:14:30,800 --> 00:14:33,800 Speaker 2: area and up maybe it's already up and came and 300 00:14:33,840 --> 00:14:36,560 Speaker 2: I'm just late to the party, but that Lost Feelers 301 00:14:36,680 --> 00:14:38,040 Speaker 2: area is spectacular. 302 00:14:38,920 --> 00:14:40,720 Speaker 3: Well, yeah, I mean, it's it's a there's a lot 303 00:14:40,760 --> 00:14:44,360 Speaker 3: of old homes there, architectures and beautiful homes, and I 304 00:14:44,360 --> 00:14:46,800 Speaker 3: think it's it's somewhat of an alternative for people who 305 00:14:47,080 --> 00:14:49,240 Speaker 3: want to live in LA but they don't necessarly want 306 00:14:49,240 --> 00:14:50,040 Speaker 3: to live in Hollywood. 307 00:14:50,200 --> 00:14:52,640 Speaker 2: They've got great restaurants and stores. I mean, it's just 308 00:14:52,680 --> 00:14:54,720 Speaker 2: a really cool area and knowing you know, Griffith Park 309 00:14:54,760 --> 00:14:56,480 Speaker 2: is right there, so it does. You know, there's some 310 00:14:56,520 --> 00:14:58,600 Speaker 2: open space and stuff. There's definitely a lot to offer there. 311 00:14:58,640 --> 00:15:01,800 Speaker 2: But you know, it's what's happening right now is that 312 00:15:03,000 --> 00:15:05,800 Speaker 2: in the state of California, it's always been northern California 313 00:15:05,800 --> 00:15:08,120 Speaker 2: that kind of leads in like price increases and all 314 00:15:08,200 --> 00:15:10,880 Speaker 2: that with the Silicon Valley all that, you know, growing 315 00:15:10,920 --> 00:15:13,200 Speaker 2: the last thirty years up there, right, that was always 316 00:15:13,240 --> 00:15:18,320 Speaker 2: the case. Now the highest values, top ten zip codes 317 00:15:18,680 --> 00:15:21,360 Speaker 2: in southern California. Oh, they're all in southern California more 318 00:15:21,400 --> 00:15:24,400 Speaker 2: than we're in southern California, and it's led by Newport Beach. Okay, 319 00:15:24,440 --> 00:15:25,920 Speaker 2: all right, can you stay with us? Sure? All right? 320 00:15:25,920 --> 00:15:27,920 Speaker 2: When we come back, I'm going to talk about hot zips. 321 00:15:28,280 --> 00:15:31,400 Speaker 2: Hot zips. Where are the hot zip codes? You have 322 00:15:31,480 --> 00:15:32,840 Speaker 2: them right, you know where they are? Yeah, I've got 323 00:15:32,880 --> 00:15:35,120 Speaker 2: some hot zips. Okay, hot zips when we come back. 324 00:15:35,120 --> 00:15:39,920 Speaker 2: Maybe kroziers in a hot zip. Oh, that's easy to remember. 325 00:15:40,360 --> 00:15:44,080 Speaker 2: Nine to one, seven eleven. That's easy, buddy, that's really cool. 326 00:15:44,160 --> 00:15:46,120 Speaker 2: All right, hot zips. Maybe you live in a hot 327 00:15:46,200 --> 00:15:49,000 Speaker 2: zip when we come back. Hot tip time, yes, hot 328 00:15:49,080 --> 00:15:53,880 Speaker 2: zip time, tip tip tap time. But anyway, hot zips 329 00:15:53,880 --> 00:15:55,600 Speaker 2: when we come back, maybe you live in a hot 330 00:15:55,760 --> 00:15:57,640 Speaker 2: zip araa and no win like saying that. I just 331 00:15:57,680 --> 00:15:58,400 Speaker 2: do hot. 332 00:15:58,320 --> 00:16:04,560 Speaker 4: Zipstening to Tim Conway Junior on demand from KFI Am sixty. 333 00:16:05,760 --> 00:16:08,240 Speaker 2: All right, we're talking real estate. Jason Slakos with us here, 334 00:16:08,760 --> 00:16:14,200 Speaker 2: real estate mogul may even, how would you describe what 335 00:16:14,240 --> 00:16:19,040 Speaker 2: you do? Mistress? Mistress? Okay, we'll go with that. All right, 336 00:16:19,080 --> 00:16:21,400 Speaker 2: let's talk about hot zips. We have a big audience 337 00:16:21,440 --> 00:16:25,440 Speaker 2: here at KFI. What Northern California used to have all 338 00:16:25,480 --> 00:16:28,400 Speaker 2: the hot zips, hot zip codes, and now most of 339 00:16:28,440 --> 00:16:29,600 Speaker 2: them are in southern California. 340 00:16:29,600 --> 00:16:33,840 Speaker 3: That's correct him? Yes, right, now, here's the hottest zip codes. 341 00:16:33,880 --> 00:16:35,200 Speaker 3: I'm gonna write these California. 342 00:16:35,240 --> 00:16:37,920 Speaker 2: Can I guess them? Yeah? Go all right? I think 343 00:16:38,080 --> 00:16:40,040 Speaker 2: you let it slip out. But I'm gonna say Newport 344 00:16:40,320 --> 00:16:43,080 Speaker 2: is probably not one or two, but probably three or 345 00:16:43,120 --> 00:16:44,280 Speaker 2: four hot zips. 346 00:16:44,880 --> 00:16:47,960 Speaker 3: You've got, Well, yes, there's three hot zips. Three out 347 00:16:48,000 --> 00:16:50,840 Speaker 3: of the top ten are in Newport Beach nine two 348 00:16:50,960 --> 00:16:54,320 Speaker 3: six five seven, nine two six six one and nine 349 00:16:54,360 --> 00:16:55,560 Speaker 3: two six six two. 350 00:16:55,880 --> 00:17:00,000 Speaker 2: And so is does Newport. The city of Newport only 351 00:17:00,160 --> 00:17:02,920 Speaker 2: has three zip codes and all three of them are 352 00:17:03,000 --> 00:17:03,440 Speaker 2: hot zip. 353 00:17:03,560 --> 00:17:06,160 Speaker 3: Yeah, I'm not sure how many they have, but three 354 00:17:06,320 --> 00:17:09,160 Speaker 3: is is incredible to be three of the top ten. 355 00:17:09,240 --> 00:17:11,679 Speaker 2: It's unbelievable how many billionaires live in Newport. 356 00:17:12,080 --> 00:17:15,960 Speaker 3: Billionaires sent to millionaires and still you know the working 357 00:17:16,000 --> 00:17:19,360 Speaker 3: class people who bought many years ago or inherited their 358 00:17:19,520 --> 00:17:21,840 Speaker 3: you know, family's place, and still you know they're working. 359 00:17:21,920 --> 00:17:24,400 Speaker 3: There still is a working class population there or retired, 360 00:17:24,760 --> 00:17:27,119 Speaker 3: kind of modest living people there who just have held on. 361 00:17:28,000 --> 00:17:30,480 Speaker 2: I heard the average house that sells a Newport Beach 362 00:17:30,960 --> 00:17:32,879 Speaker 2: is on the if it's if it's recently priced, is 363 00:17:32,920 --> 00:17:35,640 Speaker 2: on the market for two days. It goes fast. 364 00:17:35,640 --> 00:17:38,359 Speaker 3: And you're having a lot of Hollywood money that moved 365 00:17:38,440 --> 00:17:42,119 Speaker 3: down there during COVID or people that have relocated, you know, 366 00:17:42,320 --> 00:17:44,639 Speaker 3: the Palisades and saying like why are we why are 367 00:17:44,680 --> 00:17:44,960 Speaker 3: we in. 368 00:17:45,040 --> 00:17:46,000 Speaker 2: La County again? 369 00:17:47,200 --> 00:17:50,040 Speaker 3: Like this, like what is It's nice down here, you know, 370 00:17:50,119 --> 00:17:53,240 Speaker 3: and everything is less expensive in terms of property taxes 371 00:17:53,240 --> 00:17:54,120 Speaker 3: and things kind of work. 372 00:17:54,560 --> 00:17:59,440 Speaker 2: All right, I'm going to guess another hot zip is, uh, 373 00:17:59,480 --> 00:18:01,800 Speaker 2: well Hills has got to be on there. Yes, Beverly 374 00:18:01,840 --> 00:18:03,840 Speaker 2: Hills nine oh two one. Oh, okay, so that I've 375 00:18:03,840 --> 00:18:08,000 Speaker 2: gotten four another hot zip. I don't know if the 376 00:18:08,040 --> 00:18:11,720 Speaker 2: Palisades or Malibu still is. It is not on here, 377 00:18:11,840 --> 00:18:15,439 Speaker 2: it's not okay, Well they've had some challenges. Yeah, Santa 378 00:18:15,440 --> 00:18:18,560 Speaker 2: Monica nine zero four zero two. Oh, Santa Monica is 379 00:18:18,720 --> 00:18:21,320 Speaker 2: Santa Monica's on the hot top ten hot zips in 380 00:18:21,400 --> 00:18:24,280 Speaker 2: the country, of the state, in the state, in the state. Okay, 381 00:18:25,240 --> 00:18:31,800 Speaker 2: I would say another one would probably be our Lita. 382 00:18:33,640 --> 00:18:38,400 Speaker 3: No, it's it's actually right below Panorama City and that's 383 00:18:38,480 --> 00:18:42,720 Speaker 3: number eleven, which is what No. Arlita is not on that. 384 00:18:43,640 --> 00:18:50,360 Speaker 3: We have Rancho Santa Fe, Montecito, Los Altos, and Atherton 385 00:18:50,440 --> 00:18:51,879 Speaker 3: is number one in northern California. 386 00:18:51,880 --> 00:18:54,440 Speaker 2: Oh okay, all right, So of the ten hot zips 387 00:18:54,440 --> 00:18:57,840 Speaker 2: in California, nine of them are in southern California. Uh, 388 00:18:58,080 --> 00:19:03,280 Speaker 2: what to seven of them. That's incredible. I mean they 389 00:19:03,320 --> 00:19:06,000 Speaker 2: all used to be in northern California like that Pacific 390 00:19:06,040 --> 00:19:08,880 Speaker 2: Heights up in northern California was always number one, right 391 00:19:08,920 --> 00:19:14,399 Speaker 2: in San Mateo County right right, and then across the bridge. 392 00:19:14,640 --> 00:19:16,639 Speaker 3: With city all those places, and all those places have 393 00:19:16,680 --> 00:19:21,119 Speaker 3: still gone up and they're still quite affluent. For example, 394 00:19:21,160 --> 00:19:23,720 Speaker 3: two thousand and one, seven of the top of the 395 00:19:23,760 --> 00:19:25,760 Speaker 3: ten zip codes of the highest home prices were in 396 00:19:25,760 --> 00:19:29,600 Speaker 3: northern California, right Atherton, Patrola Valley, Los Alto's spent twenty 397 00:19:29,640 --> 00:19:32,680 Speaker 3: twenty six. Seven of the state's ten richest zip codes 398 00:19:32,680 --> 00:19:34,000 Speaker 3: are now in southern California. 399 00:19:34,080 --> 00:19:37,320 Speaker 2: I heard the hot as zip in the Inland Empire's Claremont. 400 00:19:37,359 --> 00:19:40,480 Speaker 2: Is that true? That's still La County? Is it really 401 00:19:40,520 --> 00:19:42,080 Speaker 2: Eastern Park that's right? 402 00:19:42,119 --> 00:19:42,320 Speaker 4: Yeah. 403 00:19:42,359 --> 00:19:45,159 Speaker 2: Yeah, So you can you can see San Bernardino County 404 00:19:45,160 --> 00:19:48,800 Speaker 2: from your your bedroom. Oh yeah, right out my window. Yeah. 405 00:19:48,840 --> 00:19:51,280 Speaker 2: That's why it stays there. Is that what you put 406 00:19:51,320 --> 00:19:54,000 Speaker 2: in the house description? You can see San Bernardina from 407 00:19:54,000 --> 00:19:56,560 Speaker 2: my house. You can see it without having to be 408 00:19:56,600 --> 00:19:59,920 Speaker 2: in it. Yeah. A couple other quick hot areas real quick. Yeah. 409 00:20:00,480 --> 00:20:05,679 Speaker 3: Uh, we got Chatsworth, El Dorado, South Los Altos Granada Hills, 410 00:20:05,680 --> 00:20:11,520 Speaker 3: mid central Pasadiens or eastern Montrose, Virdigo City and Montros 411 00:20:11,600 --> 00:20:13,719 Speaker 3: was beautiful, very nice. It's a little Mayberry. 412 00:20:13,800 --> 00:20:15,640 Speaker 2: There is Lachan YadA a hot zip. 413 00:20:16,119 --> 00:20:18,840 Speaker 3: It's always you know, it's always a hot zip. It's 414 00:20:18,880 --> 00:20:20,960 Speaker 3: not necessarily in the hot zips I have here. But 415 00:20:22,480 --> 00:20:24,119 Speaker 3: you know, there's a lot of Hollywood money going there. 416 00:20:24,119 --> 00:20:26,080 Speaker 3: It's been happening for a while. And then some of 417 00:20:26,080 --> 00:20:29,240 Speaker 3: these celebrities and athletes are being outed for living there, 418 00:20:29,280 --> 00:20:32,600 Speaker 3: so maybe it's not as appealing for some seeking to 419 00:20:32,680 --> 00:20:35,120 Speaker 3: be discreet living there. 420 00:20:35,160 --> 00:20:39,680 Speaker 2: But what about what about It wasn't Choo Tani moved 421 00:20:39,680 --> 00:20:41,600 Speaker 2: to like Montrose or. 422 00:20:42,000 --> 00:20:45,280 Speaker 3: He yea, he was in He was in YadA for 423 00:20:45,320 --> 00:20:49,119 Speaker 3: a minute. Uh he bought a house from Radio Bowl Adam. 424 00:20:48,880 --> 00:20:50,960 Speaker 2: Carolla and then had to sell it or something. 425 00:20:51,080 --> 00:20:52,920 Speaker 3: Yeah, got out there and they were just there, tour 426 00:20:52,960 --> 00:20:56,120 Speaker 3: buses going non jop and a lot of a lot 427 00:20:56,119 --> 00:20:58,120 Speaker 3: of tours from Japan that were just there all the time. 428 00:20:58,160 --> 00:20:59,960 Speaker 3: And then fans and it was just gonna be too 429 00:21:00,119 --> 00:21:01,520 Speaker 3: You hadn't even moved in yet. 430 00:21:01,560 --> 00:21:04,520 Speaker 2: Just some a hole just uh you know, reported where 431 00:21:04,560 --> 00:21:05,520 Speaker 2: he lived and it was over. 432 00:21:06,680 --> 00:21:07,040 Speaker 5: I don't know. 433 00:21:07,080 --> 00:21:09,760 Speaker 3: I can't speak to that, but it was. It was public. 434 00:21:09,760 --> 00:21:12,000 Speaker 3: I mean, I don't know what he expected, but they did. 435 00:21:12,920 --> 00:21:15,600 Speaker 3: They did some digging at the La Times and they 436 00:21:15,640 --> 00:21:17,520 Speaker 3: figured it out. He put his LLC in the name 437 00:21:17,560 --> 00:21:22,679 Speaker 3: of his dog, that agent as a service of process, he. 438 00:21:22,680 --> 00:21:26,199 Speaker 2: Said, But is there a number or a line that 439 00:21:26,320 --> 00:21:27,920 Speaker 2: makes it a hot zip or is it kind of 440 00:21:27,920 --> 00:21:30,600 Speaker 2: a scale. Well, it's kind of like hot talk, right, 441 00:21:31,280 --> 00:21:34,960 Speaker 2: It's just like these ridiculous things that people say, and 442 00:21:35,080 --> 00:21:38,520 Speaker 2: just like hot zip, hot talk. Oh yeah, that's hot. 443 00:21:38,600 --> 00:21:42,320 Speaker 2: You heard that. That's hot talk. That's like coming out 444 00:21:42,320 --> 00:21:49,840 Speaker 2: of speakers. That's how many hundred d's greens. Yeah, that's 445 00:21:50,160 --> 00:21:54,960 Speaker 2: great A lot. I would say. Arcadie is a great zip. 446 00:21:55,080 --> 00:21:56,240 Speaker 2: You know what I think is that one of the 447 00:21:56,240 --> 00:21:59,400 Speaker 2: best kept secrets in La County? And I and maybe 448 00:21:59,400 --> 00:22:01,959 Speaker 2: you agree, I don't know. I think Montrose is one 449 00:22:02,000 --> 00:22:04,600 Speaker 2: of the best kept secrets in LA County. Absolutely. 450 00:22:04,600 --> 00:22:07,200 Speaker 3: Most of it is Glendelle a city, and there's part 451 00:22:07,240 --> 00:22:10,960 Speaker 3: of it that's unincorporated LA County. And yeah, it's it's 452 00:22:10,960 --> 00:22:14,280 Speaker 3: got amazing shopping, it's it's beautiful. Yeah, they're in there. 453 00:22:14,320 --> 00:22:16,760 Speaker 3: They're nice homes up there. But they're not McMansions is 454 00:22:16,800 --> 00:22:20,280 Speaker 3: a very limited amount of like you know, very large homes. 455 00:22:20,359 --> 00:22:23,160 Speaker 2: So remember Tracy Miller invited us for our house, remember them, Yes, 456 00:22:23,240 --> 00:22:25,680 Speaker 2: I remember that, Yes, beautiful woman and she was a 457 00:22:25,760 --> 00:22:27,399 Speaker 2: very nice I remember that party at her house, so 458 00:22:27,480 --> 00:22:29,280 Speaker 2: she yeah for that. We went to the parade and 459 00:22:29,280 --> 00:22:31,240 Speaker 2: then the party at her house, a Christmas party in 460 00:22:31,280 --> 00:22:33,720 Speaker 2: a parade. That was great. All right. When we come 461 00:22:33,720 --> 00:22:36,560 Speaker 2: back a little more on real estate, the up and 462 00:22:36,600 --> 00:22:39,399 Speaker 2: coming areas, you know what's happening with the areas that 463 00:22:39,440 --> 00:22:41,640 Speaker 2: are up and coming. Maybe you're moving to one, maybe 464 00:22:41,640 --> 00:22:44,919 Speaker 2: you live in one. Jason Silaco knows everything about real estate. 465 00:22:45,359 --> 00:22:47,560 Speaker 2: And and by the way, I also heard from a 466 00:22:47,600 --> 00:22:49,159 Speaker 2: friend of yours, not even why you didn't tell me, 467 00:22:49,320 --> 00:22:51,760 Speaker 2: but you also be you got a law degree while 468 00:22:51,800 --> 00:22:54,640 Speaker 2: we were working together at kalis X. And now you're 469 00:22:54,640 --> 00:22:57,399 Speaker 2: a psychiatrist or a psychologist. No no, no, not not 470 00:22:57,440 --> 00:23:00,760 Speaker 2: a psychiatrist, no psychologist. But I'm going to say marriage 471 00:23:00,800 --> 00:23:03,320 Speaker 2: and family therapists. Really, who is part of a private 472 00:23:03,359 --> 00:23:05,880 Speaker 2: practice in Pasadena? Is that right in the old Superior 473 00:23:05,880 --> 00:23:09,679 Speaker 2: building right there on Union in Raymond Street. And how 474 00:23:09,680 --> 00:23:13,240 Speaker 2: do people get a hold of you for that? Jasoninsolacotherapy 475 00:23:13,320 --> 00:23:16,640 Speaker 2: dot Com. Wow, I could slide in there right, Yes? 476 00:23:16,800 --> 00:23:19,960 Speaker 2: Or do I know you too? Well? I have clients 477 00:23:19,960 --> 00:23:22,040 Speaker 2: that are just like you, Tim. Yeah. Well, if my 478 00:23:22,520 --> 00:23:24,520 Speaker 2: wife and I came in and you didn't take my side, 479 00:23:24,560 --> 00:23:27,480 Speaker 2: I'd be really pissed. Yeah, couples aren't my forte. I 480 00:23:27,840 --> 00:23:30,280 Speaker 2: refer those out. I see. Okay, thank god, I can 481 00:23:30,320 --> 00:23:32,400 Speaker 2: barely deal with one person that's at a time I'm 482 00:23:32,400 --> 00:23:33,159 Speaker 2: trying to manage it. 483 00:23:33,720 --> 00:23:38,200 Speaker 4: Okay, you're listening to Tim conwaytun you're on demand from 484 00:23:38,280 --> 00:23:40,080 Speaker 4: KFI Am six forty. 485 00:23:41,520 --> 00:23:43,879 Speaker 2: Jason Sloka is with us. We're talking about real estate. 486 00:23:44,720 --> 00:23:48,239 Speaker 2: Everybody in southern California either owns a home or know 487 00:23:48,400 --> 00:23:51,600 Speaker 2: somebody who owns a home, and people always want to talk. 488 00:23:52,320 --> 00:23:54,640 Speaker 2: It's odd people always want to talk about their home. 489 00:23:54,720 --> 00:23:56,600 Speaker 2: You know. When I was growing up, that never happened. 490 00:23:57,359 --> 00:24:00,159 Speaker 2: And that's only I think in La maybe California thing. 491 00:24:00,200 --> 00:24:01,560 Speaker 2: But then there were top of the value. 492 00:24:01,680 --> 00:24:05,320 Speaker 3: Yeah, you know with complete strangers just have no problem 493 00:24:05,480 --> 00:24:07,240 Speaker 3: of like, oh yeah, I bought this for that and 494 00:24:07,280 --> 00:24:08,680 Speaker 3: then oh, by the way, what's your name? Where do 495 00:24:08,720 --> 00:24:13,359 Speaker 3: you live? Four minutes behind on my mortgage before clothes? 496 00:24:13,440 --> 00:24:15,960 Speaker 3: Oh well, we made eight hundred on this Yeah, it's 497 00:24:16,000 --> 00:24:17,880 Speaker 3: a very weird thing. And when people from the Midwest 498 00:24:17,920 --> 00:24:20,679 Speaker 3: especially come out and they hear that it's very off, 499 00:24:20,720 --> 00:24:23,960 Speaker 3: they're shocked. Yeah, yeah, absolutely. How about people coming are 500 00:24:23,960 --> 00:24:26,239 Speaker 3: from Germany. I mean they're shocked when people say hi 501 00:24:26,320 --> 00:24:28,680 Speaker 3: to them, let alone when somebody in Gelson's runs into 502 00:24:28,680 --> 00:24:30,119 Speaker 3: you goes, yeah, I've just made a million two on 503 00:24:30,160 --> 00:24:33,320 Speaker 3: this property. But Americans are so willing to give that 504 00:24:33,359 --> 00:24:36,680 Speaker 3: information up so quickly they are, and then yeah, you're 505 00:24:36,680 --> 00:24:39,480 Speaker 3: throwing a hug, and these Germans are just like petrified. 506 00:24:39,920 --> 00:24:44,120 Speaker 2: What is going on here? What are some upcoming areas? 507 00:24:44,200 --> 00:24:46,679 Speaker 2: I know that Arcadia has always been like an up 508 00:24:46,720 --> 00:24:50,160 Speaker 2: and coming area and still is for some reason. Yeah, 509 00:24:50,200 --> 00:24:52,560 Speaker 2: you know, there's but by the way that that Arcadia 510 00:24:52,560 --> 00:24:54,000 Speaker 2: has been on the up and coming list for like 511 00:24:54,040 --> 00:24:55,879 Speaker 2: twenty years, it should come already. 512 00:24:56,000 --> 00:24:59,160 Speaker 3: It should be here. It's been up for year decades. Yeah, 513 00:24:59,200 --> 00:25:02,399 Speaker 3: it's a yeah. No. So Arcadia, of course is a 514 00:25:02,520 --> 00:25:05,320 Speaker 3: very valuable not only for its location, but its school 515 00:25:05,359 --> 00:25:07,480 Speaker 3: district is highly highly valued. 516 00:25:07,600 --> 00:25:08,760 Speaker 2: They got a good school district out there. 517 00:25:08,800 --> 00:25:11,000 Speaker 3: Yeah, it's it's one of the best, and it's a 518 00:25:11,040 --> 00:25:14,040 Speaker 3: safe community. There was a lot of Chinese money that 519 00:25:14,080 --> 00:25:17,639 Speaker 3: came in from China and that that dried up, you know, 520 00:25:17,680 --> 00:25:19,879 Speaker 3: the last five, six, seven years not as much, but 521 00:25:19,960 --> 00:25:22,680 Speaker 3: still the values haven't really been impacted by it, and 522 00:25:22,720 --> 00:25:24,080 Speaker 3: it continues to be. 523 00:25:25,560 --> 00:25:29,400 Speaker 2: There's some very expensive homes in in the like the 524 00:25:29,440 --> 00:25:33,080 Speaker 2: northern end of Arcadia up and like the flats approaching 525 00:25:33,080 --> 00:25:35,720 Speaker 2: the mountains. I don't know what they call that area. 526 00:25:35,960 --> 00:25:40,199 Speaker 2: There's a little there's a little shopping center there downtown 527 00:25:40,920 --> 00:25:45,400 Speaker 2: and I'm forgetting the like not Montrose, but he sings 528 00:25:45,480 --> 00:25:46,960 Speaker 2: ranch kind of area. Yeah, right there, you're right in 529 00:25:47,000 --> 00:25:49,280 Speaker 2: that area. Yeah, it was. It was just east of 530 00:25:49,359 --> 00:25:51,159 Speaker 2: the fire of where the fire was. Yeah, I mean 531 00:25:51,200 --> 00:25:53,280 Speaker 2: Chris mcceren used to live up there. A lot of 532 00:25:53,280 --> 00:25:56,679 Speaker 2: the jockeys lived up Yeah, it was. It was almost 533 00:25:56,720 --> 00:25:57,920 Speaker 2: all jockeys. Yeah. 534 00:25:57,920 --> 00:25:59,320 Speaker 3: I used to see him at the dog park and 535 00:25:59,359 --> 00:26:01,159 Speaker 3: then we would talk and no one else would be there, 536 00:26:01,160 --> 00:26:02,080 Speaker 3: and then we kind of run out of. 537 00:26:02,119 --> 00:26:05,080 Speaker 2: Things to talk about. Yeah. Christmacaren is a Hall of 538 00:26:05,080 --> 00:26:08,520 Speaker 2: Fame jockey that ran at Santa Anita, Hollywood Park and 539 00:26:08,600 --> 00:26:10,760 Speaker 2: del Mar for quite some time. And a lot of 540 00:26:10,840 --> 00:26:13,600 Speaker 2: jockeys do live up in that in that area, all right, 541 00:26:13,640 --> 00:26:15,120 Speaker 2: So what are the up and coming area. 542 00:26:15,240 --> 00:26:16,840 Speaker 3: I would say this up and coming, but this is 543 00:26:16,880 --> 00:26:20,760 Speaker 3: a little sleeper hit Northridge, right you think Northridge, of 544 00:26:20,760 --> 00:26:23,159 Speaker 3: course has been around forever. Nothing special. Yes, they have 545 00:26:23,200 --> 00:26:25,440 Speaker 3: cal State Northridge. It's you know, it's a great employment 546 00:26:25,520 --> 00:26:27,600 Speaker 3: center and there's a lot of people there. But that 547 00:26:27,680 --> 00:26:30,520 Speaker 3: has seen incredible growth in the last four years. From 548 00:26:30,520 --> 00:26:33,600 Speaker 3: the peak of twenty twenty one, the average was nine 549 00:26:33,600 --> 00:26:36,240 Speaker 3: to seventy there it is now over a million. 550 00:26:36,640 --> 00:26:39,320 Speaker 2: One. See where you talk about Sierra Madre, Oh, Siera Madra, 551 00:26:39,440 --> 00:26:42,320 Speaker 2: that's it. Yeah, yeah, that's beautiful there you live walking 552 00:26:42,359 --> 00:26:45,280 Speaker 2: distant Sierra Madre. That's a touchdown. It's like you're living 553 00:26:45,280 --> 00:26:49,240 Speaker 2: in the Midwest. It really spectacular. You know, old hardware 554 00:26:49,280 --> 00:26:51,840 Speaker 2: store that smells like an old hardware store at little theater, 555 00:26:52,520 --> 00:26:53,399 Speaker 2: great restaurants. 556 00:26:53,520 --> 00:26:57,679 Speaker 3: Really the only thing that keeps prices somewhat muted in 557 00:26:57,760 --> 00:27:00,439 Speaker 3: pasts and Sierah Madre is because it's doesn't have its 558 00:27:00,440 --> 00:27:01,240 Speaker 3: own school district. 559 00:27:01,600 --> 00:27:04,879 Speaker 2: Oh I didn't know that real it's Pasadena. Oh okay, 560 00:27:05,000 --> 00:27:07,840 Speaker 2: that makes a big difference. So what about Burbank's still 561 00:27:07,840 --> 00:27:11,200 Speaker 2: a hot area, hot zip up and coming area, And yes, 562 00:27:11,760 --> 00:27:12,160 Speaker 2: it is. 563 00:27:12,080 --> 00:27:18,480 Speaker 3: Still a very desirable area in Burbank, mostly for the schools. Well, 564 00:27:18,520 --> 00:27:22,040 Speaker 3: you got schools, you got location, you have the police department, 565 00:27:22,600 --> 00:27:27,400 Speaker 3: public services. All of those things are still very desirable, 566 00:27:27,440 --> 00:27:30,239 Speaker 3: even though as you know, Burbank has grown and it 567 00:27:30,320 --> 00:27:32,520 Speaker 3: is you know, it's still on the smaller side, but 568 00:27:32,560 --> 00:27:35,040 Speaker 3: it's not a little town anymore. 569 00:27:35,040 --> 00:27:35,240 Speaker 5: You know. 570 00:27:35,280 --> 00:27:38,760 Speaker 2: Burbank is the only city in the United States the 571 00:27:39,000 --> 00:27:41,920 Speaker 2: doubles in size every day with the people that work here. 572 00:27:42,080 --> 00:27:44,679 Speaker 2: There's one hundred and fifteen thousand people that live in 573 00:27:44,680 --> 00:27:47,680 Speaker 2: Burbank and that population goes to two thirty during the 574 00:27:47,720 --> 00:27:49,720 Speaker 2: day because of employment. It is. 575 00:27:49,760 --> 00:27:53,159 Speaker 3: And even though office space, as you know, that's definitely 576 00:27:53,240 --> 00:27:56,240 Speaker 3: taken a hit since the pandemic, and vacancy is higher 577 00:27:56,760 --> 00:27:59,679 Speaker 3: to least seeing and buying office space, but in Burbank 578 00:27:59,760 --> 00:28:02,640 Speaker 3: is all held pretty pretty strongly, even though the entertainment 579 00:28:02,640 --> 00:28:05,880 Speaker 3: industry has impacted some of that space. But its office 580 00:28:06,160 --> 00:28:11,359 Speaker 3: vacancy rate is significantly lower than downtown La parts of 581 00:28:11,400 --> 00:28:14,800 Speaker 3: the Valley and Glendale, Pasadena. It's always very low here. 582 00:28:14,680 --> 00:28:16,399 Speaker 2: And one of the one of the nice things about 583 00:28:16,800 --> 00:28:20,680 Speaker 2: about Burbank is the three or four times, maybe three 584 00:28:20,720 --> 00:28:22,719 Speaker 2: times that I've had to call the cops in an 585 00:28:22,720 --> 00:28:26,800 Speaker 2: emergency situation. They were all three times they got there 586 00:28:26,800 --> 00:28:30,040 Speaker 2: in less than two minutes. That's incredible. I mean you 587 00:28:30,040 --> 00:28:34,000 Speaker 2: live in you know, LAPD they're stretched in they they 588 00:28:34,080 --> 00:28:35,440 Speaker 2: might it might be an hour and a half before 589 00:28:35,480 --> 00:28:36,320 Speaker 2: they get out there. Yeah. 590 00:28:36,359 --> 00:28:37,600 Speaker 3: Then they get out there and go, what took you 591 00:28:37,640 --> 00:28:39,680 Speaker 3: so long? And they say, oh, because you voted for 592 00:28:39,720 --> 00:28:43,760 Speaker 3: all these things. It's not like, yes, seven senior lead 593 00:28:43,880 --> 00:28:46,040 Speaker 3: officers that are sitting around at coffee shops and get 594 00:28:46,080 --> 00:28:48,120 Speaker 3: those guys spinning to calls. 595 00:28:50,320 --> 00:28:54,760 Speaker 2: Unbelievable. But all right, give us another area that that's 596 00:28:55,080 --> 00:28:58,680 Speaker 2: like up and coming. You think, is okay? This Northeast 597 00:28:58,760 --> 00:29:04,360 Speaker 2: Torrents Old Torrents area. Uh, steph Northeast Torrents buddy, there 598 00:29:04,360 --> 00:29:08,640 Speaker 2: you go. Yeah, there's plenty of variety. There's smaller properties 599 00:29:08,640 --> 00:29:11,800 Speaker 2: there still in the six hundred range, believe it or not. Well, 600 00:29:11,840 --> 00:29:14,920 Speaker 2: you know, larger well kept craftsmen and some of the 601 00:29:14,960 --> 00:29:17,640 Speaker 2: larger homes can you know, go well up to one six. 602 00:29:18,960 --> 00:29:22,200 Speaker 2: You know what city really exploded in the last you know, 603 00:29:22,240 --> 00:29:25,400 Speaker 2: ten years or so, and the house is tripled Almost 604 00:29:25,440 --> 00:29:29,840 Speaker 2: every house tripled in price. Is Inglewood. Englewood went through 605 00:29:29,880 --> 00:29:32,240 Speaker 2: the roof when they got the rams, they chargers and 606 00:29:32,240 --> 00:29:35,240 Speaker 2: the clippers. Uh, you've got the old form which is 607 00:29:35,280 --> 00:29:38,040 Speaker 2: the what the Kia Center whatever they call that. It's 608 00:29:38,080 --> 00:29:39,240 Speaker 2: exploded out there. 609 00:29:39,400 --> 00:29:42,160 Speaker 3: It has and it's close. I mean we used to 610 00:29:42,160 --> 00:29:44,200 Speaker 3: be el Segundo. Remember that was kind of a snipy town. 611 00:29:44,760 --> 00:29:46,200 Speaker 3: Now that is like you know what they call it, 612 00:29:46,240 --> 00:29:48,920 Speaker 3: Silicon Beach. But there's so much money down there now, 613 00:29:49,040 --> 00:29:51,040 Speaker 3: and you're everyone. 614 00:29:50,760 --> 00:29:51,360 Speaker 2: Is priced out. 615 00:29:51,400 --> 00:29:54,120 Speaker 3: If people like live there and then lasting want to 616 00:29:54,120 --> 00:29:55,320 Speaker 3: come back, they can't get in. 617 00:29:55,920 --> 00:29:56,800 Speaker 2: Wow. Is that right? 618 00:29:56,880 --> 00:29:58,680 Speaker 3: So yeah, you have got to stay people moving to 619 00:29:58,720 --> 00:30:02,240 Speaker 3: these other closer areas that were never really on the 620 00:30:02,320 --> 00:30:02,960 Speaker 3: radar before. 621 00:30:03,080 --> 00:30:08,160 Speaker 2: All right, So you do therapy Jason inslacotherapy dot com. Yeah, 622 00:30:08,240 --> 00:30:11,400 Speaker 2: Jason in Slaco therapy and mostly what kind of therapy? 623 00:30:12,040 --> 00:30:17,400 Speaker 3: H Well, I work with adults, children, adolescents, individual therapy, 624 00:30:17,440 --> 00:30:21,920 Speaker 3: and I work in a beautiful private practice on the 625 00:30:21,960 --> 00:30:24,640 Speaker 3: Superior building in old Tout Pasadena. 626 00:30:25,480 --> 00:30:29,120 Speaker 2: Raymond and Holly, And are you still getting a lot 627 00:30:29,160 --> 00:30:31,120 Speaker 2: of people that were affected by COVID? Oh? 628 00:30:31,200 --> 00:30:37,160 Speaker 3: Yeah, especially kids, Yes, especially kids, but adults. Everything is 629 00:30:37,200 --> 00:30:39,920 Speaker 3: still unwinding from that period six years ago. 630 00:30:40,080 --> 00:30:40,360 Speaker 4: Wow. 631 00:30:40,640 --> 00:30:44,920 Speaker 2: I always say, though, if for some strange reason you 632 00:30:44,920 --> 00:30:47,760 Speaker 2: you know, you liked the excitement of COVID and you 633 00:30:47,960 --> 00:30:50,600 Speaker 2: liked being locked down, and you liked, you know, not 634 00:30:50,720 --> 00:30:53,479 Speaker 2: going out of your house and the masks and the 635 00:30:53,480 --> 00:30:57,040 Speaker 2: gloves and the six feet apart. Just go to Whole Foods. 636 00:30:57,040 --> 00:31:02,400 Speaker 2: They're still doing it. Yeah, buddy, thanks for coming in, 637 00:31:02,440 --> 00:31:05,440 Speaker 2: your giants, stud and Spencer. Nice to see you. How 638 00:31:05,480 --> 00:31:06,040 Speaker 2: old are you now? 639 00:31:07,040 --> 00:31:07,720 Speaker 5: I'm twelve? 640 00:31:07,800 --> 00:31:10,760 Speaker 2: Now twelve? All right, that's a nice soccer. Sure you 641 00:31:10,840 --> 00:31:12,440 Speaker 2: must be the king of the soccer. 642 00:31:12,800 --> 00:31:14,880 Speaker 5: Like soccer at all. I don't know why I'm wearing this. 643 00:31:15,040 --> 00:31:15,880 Speaker 2: Hell's going on here? 644 00:31:15,920 --> 00:31:20,160 Speaker 5: I just want to say so, I don't know. Shout 645 00:31:20,160 --> 00:31:22,000 Speaker 5: out to school, Shout out to my school. 646 00:31:22,080 --> 00:31:23,320 Speaker 2: How about a shout out to your friends. 647 00:31:23,640 --> 00:31:26,200 Speaker 5: Shout out to Emmy and Santy. 648 00:31:26,800 --> 00:31:31,680 Speaker 2: Those girls, their boys you never know. And he's a boy. 649 00:31:31,920 --> 00:31:33,400 Speaker 5: Yeah, his name is Emiliano. 650 00:31:34,520 --> 00:31:39,480 Speaker 2: Okay, all right? And and you want to give out 651 00:31:39,480 --> 00:31:41,000 Speaker 2: the shout out the school you go to. 652 00:31:41,680 --> 00:31:45,320 Speaker 5: Shout out Saint Francis Xavier. If if any of you 653 00:31:45,320 --> 00:31:46,840 Speaker 5: guys from the school are listening to. 654 00:31:46,760 --> 00:31:52,280 Speaker 2: It, just hit you up. Flash right, yeah, slash flash 655 00:31:52,320 --> 00:31:57,120 Speaker 2: the lights listening right, that's right, Yes, flash those lights 656 00:31:57,600 --> 00:32:00,400 Speaker 2: all right, nice to see you guys. Jason SLACKO therapy 657 00:32:00,400 --> 00:32:02,880 Speaker 2: go look himpa on the internet. And Spence Nice. I 658 00:32:02,920 --> 00:32:05,680 Speaker 2: always to see you, buddy, guys bringing a soccer shirt. 659 00:32:05,680 --> 00:32:07,400 Speaker 2: He's never seen a soccer ball in his life. Well, 660 00:32:07,400 --> 00:32:09,120 Speaker 2: I don't know what his dad's doing to him. All Right, 661 00:32:09,160 --> 00:32:11,840 Speaker 2: we're live when we come back, tiptap talkback time on 662 00:32:11,920 --> 00:32:15,560 Speaker 2: KFI and we're gonna give out the tickets for Disneyland 663 00:32:15,840 --> 00:32:18,600 Speaker 2: when we come back right here on KFI AM six forty. 664 00:32:19,440 --> 00:32:20,800 Speaker 2: This is KFI. 665 00:32:21,040 --> 00:32:23,520 Speaker 1: This has been the Conway Show on demand on the 666 00:32:23,600 --> 00:32:24,960 Speaker 1: iHeartRadio app. 667 00:32:25,160 --> 00:32:25,920 Speaker 2: Dere's Live. 668 00:32:26,320 --> 00:32:29,880 Speaker 1: Join us on KFI AM six forty weeknight, six to 669 00:32:30,000 --> 00:32:31,920 Speaker 1: ten pm Monday through Friday. 670 00:32:32,120 --> 00:32:33,320 Speaker 2: Thing wlong with this app.