Latest Event Updates
Accessory Dwelling Units CA
The sweeping changes that California is hoping to bring to housing with the new Accessory Dwelling Unit (ADU) legislation is big news and could alter the way we live in our homes and the aesthetics of our communities in a massive way.
Turning single family homes on tract lots into Triplexes? No more garage parking? Where will all the stuff go? I guess renting out the garage would surely cover storage and more.
Good or bad? I’m sure as with everything in California…it will depend on who you ask.
Turning Your Property into a Triplex
Making Sense of New ADU Legislation
For Sale By Owner Mistakes
Top 10 Mistakes Made by For Sale By Owners (FSBO’s)
• Accepting the buyer with the highest offer without regard to the other contractual terms.
• Not properly handling multiple offer situations with multiple buyers.
• Not properly handling back-up offers.
• Entering into an agreement with no earnest money deposit from the buyer, or a very small amount.
• Entering into an agreement before verifying the buyer’s financial ability to close escrow.
• Not disclosing known material facts affecting the value or desirability of the property.
• Not providing the buyer with legally required disclosures.
• Not obtaining the buyer’s written acknowledgement of disclosures.
• Not considering whether to require the buyer to remove contingencies.
• Not excluding items from the sale that the seller wants to keep.
Need the best way to sell for the highest price and the lowest stress level? Hire a professional team to guide you and do the heavy lifting! No obligation and No pressure consultation available. Call or text April at 951-522-0518 or email at april@teamgreer.com Cal DRE #01235358
Homebuilder Confidence Stabilizes
Homebuilder confidence stabilizes,
hinting at solid spring home buying season-
Despite affordability and labor concerns, homebuilder confidence held steady in March, according to the National Association of Home Builders. “In a healthy sign for the housing market, more builders are saying that lower price points are selling well, and increased inventory of affordably priced homes, will enable more entry-level buyers to enter the market,” said NAHB Chief Economist Robert Dietz.
With that being said, the report also warns that affordability continues to remain a key concern for builders. “The skilled worker shortage, lack of buildable lots and stiff zoning restrictions in many major metro markets are among the challenges builders face as they strive to construct homes that can sell at affordable price points,” the report states. courtesy of housingwire.com
So Cal Rent Hikes 2019 Forecast
Helping Seniors Transfer Property Taxes
Portability Initiative is Designed to Help 55 and Over to Sell Their Homes and Buy Another
The California Association of Realtors (CAR) is attempting to qualify a ballot initiative, The Property Tax Fairness Initiative, that will restructure the way property taxes are calculated for buyers over the age of 55 (also the disabled and/or natural disaster victims).
CAR says, “A large part of the reason why (55 and overs are not moving) is that, even if they want to downsize or move closer to family, the prospect of a property tax increase of 100, 200, or even 300 percent, effectively locks our parents and our grandparents in their homes.” Thus, CAR maintains, “The Property Tax Initiative will help these homeowners to sell their current homes and move without being subjected to what is effectively a massive moving penalty”.
How will it help? Currently there are only limited conditions under which someone over 55 may transfer his or her old tax base to a newly purchased home. The Initiative would expand this.
“C.A.R.’s Property Tax Fairness Initiative would allow homeowners 55 years of age or older to transfer their Prop. 13 tax-base to a home of any price, located anywhere in the state, any number of times.” –taken from realtytimes.com 2-13-18
