Blog Posts
The house-hunting process is full of anticipation and excitement, and once you think you’ve found “The One,” it’s tempting to rush to make an offer and seal the deal before someone else scoops it up. But wait! There are some things you want to consider before making an offer on a home that could save you a whole lot of time, money, and potential headaches down the road.
Just like the Realtor, you need to do your due diligence and research; so you understand the entire situation at hand. Many factors may affect the initial offer along with the outcome of the entire negotiation. Failure to do your research is like playing a game of poker blindfolded. Here are some things to consider before making an offer to ensure that you get the best deal possible and that you’re not getting in over your head. more...
On September 16th, hot off the heels of surviving California’s latest recall effort, Governor Gavin Newsom signed into law legislation aimed at addressing the statewide housing crisis – a critical topic leading up to last week’s election. The suite of bills, Senate Bills (SB) 8, 9, and 10 and Assembly Bill (AB) 1174, coupled with the recently announced California Comeback Plan, carry the potential to expand housing production, streamline permitting and promote density closer to major employment hubs.
While the housing deficit in California is undeniable, there is very little consensus on how to combat the crisis. Case in point, nearly 250 municipalities throughout the state opposed Newsom’s most recent signing spree. Led by the League of California Cities, local governments objected that the laws will undermine a local government’s police power, the source of authority for local planning and land use control. There is also concern that these bills are a significant push towards the elimination of single-family zoning statewide. Below is a summary of the legislation recently passed to fight California’s ongoing housing crisis. more...
09/29/2021
What Happens After September 30th, 2021?
'The state legislature adjourned this month without extending its eviction moratorium and the terms of AB 832. So, barring any extraordinary effort on either the governor or lawmakers, the state moratorium should, therefore, finally lapse on September 30, 2021.
Beginning October 1, 2021, and continuing through March 2022, California will enter into the "COVID-19 Rental Housing Recovery Act."
What this means in Alameda County
Nothing at all! For some of you, September 30, 2021, will be the proverbial "light at the end of the tunnel." But for those with rentals in Alameda County, the end of California's moratorium will have absolutely no effect, and properties will remain mired in local "emergency" ordinances, which still effectively prohibit ALL evictions indefinitely. Laws in both Oakland and Alameda County will only expire 60 days after the local emergency ends. Our honest assessment is that regular evictions will not be allowed in Alameda County until 2022 at the earliest. Only cases involving an "imminent threat to health and safety," post-foreclosure, forcible detainer, and at-will tenancies may move forward for the time being. Please reach out to us if these issues relate to your tenancy.
What this Means Everywhere Else more...
Photo by RODNAE Productions via. Pexels.com
Would-be homebuyers with thin credit files will have a better chance of getting approved for a mortgage if they’ve been paying their rent consistently, thanks to changes to Fannie Mae’s automated underwriting system taking effect next month. more...
This article was produced by Capital & Main, an award-winning publication that reports from California on economic, political, and social issues. This article highlights vital points and perspectives of S.B. 9. For the complete article and more information covering this topic, please visit prospect.org.
The classic American ideal of a single-family home surrounded by a green lawn and picket fence may no longer be sustainable in California. Today, most of the state’s residential land—more than two-thirds of it—is set aside exclusively for one home per lot. The practice may not only have driven up land prices, but it has also created intense racial and economic segregation. Single-family zoning is the “new redlining,” wrote Richard Kahlenberg in a New York Times op-ed earlier this year. Scholarly work on the exclusionary effect the practice has had in U.S. cities has recently come to public attention. more...
Being a rental property owner is something many strive for in their lives. Most of the time, financial advisors recommend owning a rental home is a great investment strategy in building wealth. But, “with great power comes great responsibility,” as you’ll always be required to adhere to the ever-changing local and statewide housing policies and laws. Owning multiple rental properties only ups the stakes, and as with anything else, there are plenty of pros and cons — but that’s where hiring a Property Management company plays a role; we’ll get into that throughout this article too.
Related: How to Hire a Property Manager (Webinar) more...
Nationwide, the challenges contractors are experiencing with fast-rising materials costs, uncertain delivery times, and rationing of vital inputs are due to the ongoing global construction struggles with materials shortages and prices.
The steep material cost increases tell only part of the story — One example is a potential shortage of steel form ties used in concrete formwork. The US-based Concrete Foundations Association (CFA), representing cast-in-place contractors, has announced an industry-wide effort to mitigate the shortage. more...
The California Apartment Association has published an array of compliance materials — including an Industry Insight document, an FAQ, and related forms — to help rental housing providers comply with AB 832, legislation signed into law earlier this month that extends the state’s COVID-19 eviction moratorium by three months.
The moratorium had been scheduled to expire with SB 91 on Wednesday, June 30th, 2021 but will remain in effect through September 30th, 2021.
AB 832 also expands the existing State Rental Assistance Program to provide landlords with 100% of rent owed by qualifying residents.
Compliance materials:
The California Apartment Association has published an Industry Insight document and an FAQ to help rental housing providers comply with AB 832. If you are a CAA member, the Industry Insights are accessible for your viewing. more...
06/25/2021
Will iBuyers Fuel Real Estate’s Future?
Photo by Andrea Piacquadio from Pexels
The growth of eCommerce has become an indispensable part of the global retail framework. Like the pharmaceutical, finance, entertainment, and many other industries, the retail landscape has undergone a substantial transformation following the advent of the internet. Due to the ongoing digitalization of modern life, eCommerce now plays a vital role in our daily lives. It is redefining people’s commercial activities around the world. more...
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California lawmakers unveiled legislation today that would extend the state’s COVID-19 eviction moratorium through September 30th, 2021. One day after U.S. Centers for Disease Control and Prevention extended the nationwide moratorium through July.
AB 832 would keep California’s eviction moratorium in effect for two months beyond the federal eviction ban. Tenant activists had pushed for an extension of the state moratorium through the end of 2021. At present, the moratorium (SB 91) is scheduled to lapse Wednesday, June 30th. The Legislature could vote on the bill as early as Monday, June 28th. more...