To the editor: In response to the query of why L.A.’s condominium gross sales have cooled, a big a part of the reply lies in California’s Senate Bill 326, the “balcony inspection” regulation (“L.A.’s surging real estate prices have cooled, so why is nobody buying condos?,” Could 13). Whereas the regulation is well-intentioned and addresses respectable security issues in ageing buildings, its unintended penalties are discouraging consumers, and particularly lenders.
Lenders are hesitant to approve loans for condos affected by the regulation’s litany of necessities. Securing the required drawings and permits and scheduling even minor work can take complexes six months to a yr. Gross sales are close to unimaginable throughout that point.
Even consumers with substantial down funds face obstacles securing financing. In consequence, condos are staying in the marketplace longer or being transformed into leases — outcomes that don’t profit condominium sellers, potential consumers or house owner associations.
After a nail-biting escrow interval, I finally bought my San Fernando Valley condominium for money in March 2026. I take into account myself lucky, however many others are usually not as fortunate. Considerate changes to implementation of SB 326 and communication with lenders might assist restore stability to this phase of the housing market.
Nancy Meyer, Humble, Texas
