Blog Posts in Category: Real Estate
2023 has been a challenging year for the housing market. With seemingly soaring interest rates, low inventory on the market, and an inflated market things have been difficult for both Buyers and Sellers alike. Even now as we step into the latter half of 2023, the housing market remains a dynamic arena with truly life changing opportunities. When coupled with the right team, possibilities are endless for everyone. To find those opportunities, let’s dive into what the months ahead could look like if you’re in the market to purchase or sell your home. more...
As retirement approaches, many people are concerned about ensuring their financial stability. One way to achieve this goal is by investing in real estate. Purchasing a rental home can provide a stable source of income during retirement, but there are several things to consider before making such a significant investment. more...
04/27/2023
Why Young Adults Should Purchase a Home
Buying a house can be a difficult task for anyone to do. So of course with student loans, an entry-level job, and the desire to travel and explore the world, it’s understandable why as a young person there’s the decision to rent over buying. However, homeownership presents many benefits that cause a significant impact to your financial future when choosing to purchase a home earlier rather than later. There’s a reason that Urban Institute finds $72,000 difference between those who purchase a home between 25 and 34, and those who waited to buy until 35 to 44. more...
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Photo by Brett Jordan on Unsplash According to the latest Producer Price Index (PPI) report released by the Bureau of Labor Statistics, the prices of goods used in residential construction ex-energy climbed 3.6% in January (not seasonally adjusted). The index was higher by a 25.4% jump in softwood lumber prices and 9.0% price increases for indoor and outdoor paint. more...
On January 6th, 2022, ATTOM released its 2022 Rental Affordability Report, which proves that owning a median-priced home is more affordable than average rents on a three-bedroom property in 666, or 58%, of the 1,154 U.S. counties analyzed in this report. That means major homeownership expenses consume a smaller portion of average local wages than renting. more...
Following a few months of moderating prices last spring and summer, lumber prices are soaring once again; Disrupting the housing market and harming housing affordability. 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...
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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. 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. 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. more...
The housing market keeps sailing along. The only headwind that could take it off course is the lack of inventory for sale. The National Association of Realtors (NAR) reports 410,000 fewer single-family homes for sale this March than March 2020. The key to continued success in the residential housing market is for more listings to come on the market. However, many homeowners are concerned that selling their homes could be challenging for several reasons. more...
05/28/2021
Spring Real Estate Trends to Lookout For
Spring is always an interesting and exciting time in real estate, so what are analysts expecting we can see this year? more...
It’s not uncommon to wish to sell a home to a family member, but it can become a tricky situation. You have to be mindful of not only the personal elements that can come with doing this type of transaction with a relative, but the IRS may also scrutinize the transaction if you don’t avoid certain red flags. It’s perfectly legal to sell a home to a family member as long as you’re not just doing it to avoid taxes. If you’re selling the property at a steeply discounted rate, you might have to pay an estate and gift tax, but beyond that, it’s just like any other real estate transaction. more...
Lower mortgage rates are not prompting homeowners or potential homebuyers to contact their lenders, as other obstacles stand in their way. According to the Mortgage Bankers Association’s seasonally adjusted index, the total mortgage application volume fell 2.5% last week from the previous week. more...
Photo by Kindel Media from Pexels more...
The hot housing market is not even — and some cities and types of properties are noticing higher price gains than others. Condominium prices, in particular, are rising less than those for single-family homes across the board, according to recent insights from Black Knight. more...
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The recently enacted COVID-19 relief legislation, the American Rescue Plan Act, included $9.9 billion in relief for homeowners to be administered through a new Homeowner Assistance Fund. These funds, which will soon be made available to eligible homeowners through their states, may be used for assistance with mortgage payments, homeowner’s insurance, utility payments, and other specified purposes. more...
Nationally respected local business recommendation website, Three Best Rated, has acknowledged Advent Properties, Inc. as one of their 3 Best Property Management Companies in Oakland! more...
04/08/2021
Why Do New Homes Cost So Much Money?
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04/07/2021
How to Lower Your Property Taxes
Property taxes provide funds for schools, roads, and many other vital aspects of our community. However, that doesn't mean you should be paying more than you have to. If you're a veteran, disabled, over 65, or under certain income thresholds, you may qualify for a property tax exemption. Here are some other ways to lower your taxes: more...
Staging your home in the best way possible is proven to increase the value of your home. Walking into a house with basic furniture and decorations gives potential buyers an idea of what life will be like there. And removing personal items helps you disconnect from the home. more...
Nationally respected business recommendation website, Expertise.com, scored 178 Property Management companies in San Francisco and 31 Property Management companies in Concord — so far, we technically rank #1 on both lists in 2021! We also received this award last year in San Francisco, and both lists were recently updated on March 12th and 17th, 2021 — giving us a great sign that our hard work is not going unnoticed! more...
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Prop 19 frees up inventory while providing tax savings for seniors, homeowners with disabilities, and wildfire victims — here are the ways it helps: more...
03/12/2021
5 Major COVID Effects After One Year
Photo by August de Richelieu from Pexels. It was one year ago that the World Health Organization declared COVID-19 a pandemic and changed the world. Here are some of COVID’s profound effects on the Real Estate and Mortgage Industries: more...
03/10/2021
Everyday Tips to Curb "Zoom Gloom"
Photo by Andrea Piacquadio from Pexels more...
03/05/2021
How Much Should Your Down Payment Be?
If you’re planning to buy a new house, a big part of that is saving for a down payment. Your down payment is the money you put down when you close on a mortgage. Lenders will often describe down-payment in terms of percentages. A down payment represents what you initially own when you buy a home. Then, the remainder comes from your lender. more...
Presidents Day weekend marks the unofficial start of the spring housing market, but if you’re looking to get in this year, hold onto your wallet. Bidding wars are off the charts, even as home prices are rising rapidly. more...
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Photo by Jorge Maya on Unsplash California plans to extend eviction protections through the end of June while using federal money to pay off up to 80% of unpaid rent owed by tenants. Gov. Gavin Newsom and the top two legislative leaders of California state announced Monday night. more...
We are proud to announce that Advent Properties, Inc has been rated #1 by Propertymanagement.com on their list of the Best Property Management in Oakland, CA. Here is what they have to say about our services: more...
Owning a home is a huge undertaking but a potentially rewarding one. When you buy a place of your own, you get to build equity in an asset that can increase in value over time. You also gain the stability of not having a landlord who can decide to renew your lease or not. But if you think that 2021 is the year for you to buy a home, you should know what the housing and mortgage market could have in store. Here are a few things to keep in mind: more...
This blog post will update with the most recent changes around this listing.
We are glad to announce that this attractive income property/fixer-upper in the Temescal neighborhood is now pending sale! 5425 Shattuck Avenue comes with tenants paying rent, period details throughout the home, and an incredibly spacious backyard with small cabin. This 4-bedrooms, 2-bathroom home could be a great handyman's fixer-upper or a flippers dream — Take a look at these images below:
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Photo by Vlada Karpovich from Pexels more...
This blog post will update with the most recent changes around this listing.
We are glad to announce that this newly-renovated home in Melrose at 5329 Wentworth Avenue has now sold! This fully remodeled and upgraded home features three bedrooms, two bathrooms, and a spacious backyard with mature fruit trees. This light-filled craftsman's style home also features an expansive private backyard, perfect for hosting those family gatherings or socially distanced BBQs. more...
Seasoned home buyers know that winter is usually the right time to begin househunting since many of their competitors wait until spring. But this winter, buyers may notice that despite the cooler temps and the holidays, they’ve got company — in fact, lots of it. COVID-19 kept buyers on lockdown for most of the spring season, so many are making up for the lost time by home shopping aggressively now. more...
We are excited to announce that this beautiful home at 4760 Davenport Avenue has now SOLD! This Redwood Heights ranch style home offers a spacious and sophisticated dual-level design, two-car garage, off-street parking, and multi-tiered level landscaped water-efficient grounds. The fireplace complements a host of amenities which including energy-efficient double pane windows, spacious galley-style kitchen, gleaming hardwood engineered floors, spacious countertops, freshly painted interior, and an abundance of garden space to enjoy and create long-lasting memories!
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Walking down the leafy streets near Berkeley’s Oakville Avenue, and you’ll come across a three-bedroom, two-bathroom home whose value Zillow puts at $2.3 million. Its owners are paying $14,742 a year in property taxes. Go around the corner on the same block to The Plaza Drive, and you’ll see another two-bathroom, three-bedroom home with a similar Zillow value of $2.5 million. Its owners are paying about $5,464 in property taxes! more...
This blog post will update with the most recent changes around this listing.
We are glad to announce that within 6-days on the market, this cozy two-bedroom condo at 47 Raintree Court is in-contract and pending sale! This commuter's dream location features two bedrooms, two bathrooms, and a spacious side yard with a small shed. This condo also features a one-car garage with direct access to an uncovered one-car reserved parking spot.
The entire condo was just fully painted and new carpets installed throughout. Take a look at these images below:
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This blog post will update with the most recent changes around this listing.
We are proud to announce that this elegant home in Cleveland Heights is officially pending sale after three days! This elegant home sits on a hill with a multi-level staircase leading from the street, overlooking the surrounding neighborhood! 882 Prospect Avenue and all of its outstanding curb appeal was listed once before with a few tenants. After finalizing a deal to relocate the tenant(s) safely, Darryl re-listed this home with beautiful decor by dressed to sell and received an excellent offer for his clients — take a look at these images below:
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Photo by Andrea Piacquadio from Pexels Proposition 19 has officially passed! California voters have approved a makeover to the state’s landmark 1978 law to limit property taxes with 51% support. The measure allows homeowners 55 and older, the disabled, and wildfire victims to carry low property tax rates with them when they move. Though, it strips property tax breaks from people who inherit property. more...
Photo by Tom Rumble on Unsplash more...
The Hayward City Council demonstrated wisdom and long-term thinking last night in voting not to accept the Staff recommendation to limit future rent increases in Hayward to the Consumer Price Index - capped at 5%, with a floor of 2%. more...
We are proud to announce that after ONE DAY on the market, this well-loved and cared for craftsman home is now SOLD! This home has been in the Tellez family since the mid-1960s in the Valley-View Reed neighborhood. The family sought after Darryl after his work with 1547 Hallbrook Drive, as he successfully found a million-dollar offer and went into contract within three days!
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Now's your chance to own this charming updated three bed and two bath home. This home is a dream location for Commuters! Minutes away from freeways, both BART stations, and a short commute downtown to Todos Santos Plaza.
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The global pandemic known as COVID-19 has dramatically disrupted the ways we handle business, interact with others, and who we allow in our homes. With that said, it is easily understood why many homeowners and homebuyers believe that this is not the most suitable time for selling or purchasing a new property. However, home sellers sitting on the sidelines might be passing up the opportunity to make large amounts of profits on their property. While homebuyers who assume they can't schedule home tours right now might be forfeiting their chance to snag their dreams. more...
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Congrats on investing in a new home! Now you may be wondering how do you increase its worth? One way to increase the value is by building equity. Equity is the market value of your home or property, minus your outstanding mortgage debt. Building equity is one of the most important financial benefits of ownership. more...
We are proud to announce this well-loved and cared for craftsman home in San Jose is now SOLD! 1547 Hallbrook Drive was on the market for the first time in almost 50 years, with only two previous owners!
Within a week, 1547 Hallbrook Drive received an all-cash offer and moved into Escrow. Just like the owners of this home, we are confident that Darryl can make your home buying or selling experience swift and seamless.
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07/14/2020
Renters were particularly optimistic about home buying, according to the latest Fannie Mae survey
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After diving to nearly the lowest level in its history in April, an index measuring consumer viewpoint in the housing market bounced back significantly in June. Mortgage applications to purchase a home rose 5% for the week and were a remarkable 33% higher than a year ago. Renters were particularly optimistic about home buying, and it shows. more...
We are glad to announce this beautiful single-family home in Oakland has officially been SOLD! more...
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The Spring and Summer seasons are usually the best time to sell a home for those seeking to earn the most profits. Due to COVID-19, it remains uncertain if conventional wisdom may apply since buyers and sellers alike have slowly returned to the market. more...
Rents for one-bedroom apartments in San Francisco have dropped by 9.2% since June 2019, according to Zumper. That is the highest drop since the rental site started recording such data in 2015, and brings median one-bedroom prices down to levels not seen since March 2017. more...
Buying a home is one of the most significant financial decisions you’ll make in your life. Although, on occasion, it can be one of the largest sources of stress for many first-time buyers is the financing process. Unless you’ve planned thoroughly and dedicated time for research, receiving a mortgage can feel complicated and overwhelming. Luckily, you could learn from these common mistakes first-time homebuyers make to have a less stressful experience: more...
While the spring market would usually be running at full power now, COVID-19 has put an impermanent stop to most real estate transactions. However, that does not imply that you cannot set aside the effort to prepare your home to be listed and available to be purchased once we flatten the curve. In light of that, here are four recommendations on things you can do to prepare your home to hit the market after stay-at-home orders have been relieved: more...
Almost 75% of Realtors report that their sellers have not reduced their listing prices down to draw new buyers amid this pandemic, announced by the National Association of REALTORS. That indicates the amount of precaution home sellers consider to avoid feeling pressured to sell quickly during COVID-19. more...
The California Association of Realtors recently reported that California home sales fell from both the previous month and year in March as the coronavirus pandemic began to affect the housing market, and as the state’s stay-at-home order was put in place. more...
Richmond City Council on Tuesday dismissed an emergency request that would suspend all rent and mortgage payments in Richmond for the span of the COVID-19 shelter-in-place precautions. Alternatively, the city councilmembers cast a vote for protections like the Contra Costa County Board of Supervisors announced before Tuesday. The Board of Supervisors passed an emergency law applying to every one of the 19 cities and unincorporated regions, Supervisor John Gioia said in an update. more...
While risk is an individual choice, the real estate industry is adjusting to give access to home buying securely during the coronavirus pandemic. You would now be able to do numerous things at a safe social distance, or even remotely with regards to purchasing a home that you might not have considered doing previously. more...
Cash vs. Mortgage Overview: There's a lot to consider when contemplating purchasing a home outright versus financing it. Here are some of the major differences between using cash or a mortgage to buy a home: more...
With millions of Americans facing financial burdens like student loans and high rents, saving up to make the traditional 20% down payment on a first home can be daunting. There’s good news for prospective homeowners: You don’t need to do it! more...
This week, several cities, the County of Alameda, and the State of California enacted moratoria on evictions for nonpayment of rent. Below you will find summaries of each ordinance relevant to your location: more...
03/28/2020
Bay Area home sales regaining momentum!
Bay Area home costs have begun growing, with careful consumers venturing once more into the market in the midst of low inventory and consistent demand. The middle deal cost in January for single-family homes rose, year-over-year, in Santa Clara, San Mateo, Alameda, and Contra Costa areas, as indicated by another Zillow study. The greatest risers were in tech-strong San Mateo, where the average sale cost expanded 6.3% to $1.47 million, and Santa Clara, with the cost up 2.7% to $1.21 million. more...
Buying a new house while selling your old home is the best path to take for some home sellers turned home purchasers. Ideally, this change would happen in one day. However, in reality, it isn't so straightforward, and you'll have to expect some time between selling your home and purchasing your new one or the other way around. The procedure is a difficult dance full of complex steps and a rhythm that is hard to do flawlessly. All in all, you might be wondering, would I be able to purchase another house before I sell mine? The response to that is, yes, you can! Yet the bigger question is whether you will want to once you understand the entire process. more...
Due to the evolving coronavirus pandemic Congress has officially rescheduled the final day to file your 2019 taxes to June 15th, 2020. With that in mind, you might be thinking about whether there are tax deductions when selling a home, and of course, there are! You may recall 2018's new tax code otherwise known as the Tax Cuts and Jobs Act, that changed a few guidelines for homeowners. But have confidence that if you sold your home last year, or intend to sell this year, expect some tax deductions that can still amount to sizable savings when you file with the IRS. Need a full summary of the considerable number of deductions (as well as tax exemptions or other write-offs) at a home seller's disposal? Look at this rundown to ensure you miss none of them. more...
In spite of the fact that the home buying season has begun sooner than expected this year, Zillow says that homes recorded in May usually sell for more than other months in the year. Truth be told, the Mortgage Bankers Association said that January 2020 was the hottest January for purchasing mortgage applications in 11 years. more...
As the coronavirus pandemic effects hit financial markets, U.S. bond yields are falling, driving mortgage rates that freely follow the 10-year Treasury yield toward an eight-year low. With no end in sight, they could sink even lower. The normal rate on a common 30-year fixed home loan hit 3.34% on Monday, as indicated by Mortgage News Daily. That is for borrowers with solid financials and FICO credit scores. more...
Real Estate website Realty Hop has announced San Francisco is one of the coldest home markets in the country throughout the previous four consecutive months. The listing website estimated the contrast between a home's list price and the closing price. “In theory, stronger markets should exhibit fewer price drops and smaller percentage discounts,” according to Realty Hop. more...
Selling your home can be both invigorating and upsetting, particularly if it's your first time. Despite why you chose to sell your home, there are various complexities you can accidentally fall into, making your home selling experience far less than perfect. Fortunately, we've assembled a summary of the most widely recognized home selling mistakes to avoid when selling your home. Underestimating the cost of selling your house While the point of selling your home is to eventually benefit from the profits, many home sellers disregard the expenses related to selling their home. First of all, you can hope to utilize five to six percent of the entire cost of your home to cover the commissions of both the seller and buyer agents. For instance, in the event that you sell your home for $700,000 you could end up paying upwards of $30,000 in commission fees. Besides, this substantial cost does exclude potential concessions homebuyers may need you to make during the negotiation stage, for example, making fixes proposed by a home inspector. Skipping a pre-listing home inspection before selling your house Selling a house can be stressful, even when everything is going according to plan. However, if a homebuyer employs an inspector who notices an issue like pests, mold, or a split foundation, your feelings of anxiety will increase as you jeopardize losing the entire deal. Given that home inspections are relatively affordable, there's very little motive to stay away from them. Getting a pre-posting home review will comfort your psyche, as you'll either realize that your house is in sound condition or you'll have the option to handle the issues before homebuyers get the opportunity to bring them up during the negotiation stage. In the event that an issue arises, you can either fix it or you can tell purchasers and afterward and make a concession during the negotiation stage by properly depreciating the cost of your home. Pricing your home incorrectly On the off chance that you price your home excessively high, your home may remain available on the market for an unfathomable length of time. Then again, in the event that you price your home very low, you'll probably sell your home swiftly yet you chance passing up a lot of cash. The initial step to seeing how much your house is worth is using an online calculator or contact Advent for a free home valuation consultation. Schedule a meeting with your realtor afterward to consider an adequate pricing method for your home. They will take a gander at similar properties in your neighborhood that were recently sold, as well as bring perceptive insights into what the housing market is currently doing. Together, you'll select a satisfactory opening cost as well as a pricing strategy that will incentivize purchasers if your home starts to sit available for a long time. Not budgeting for your move At the point when you think about the moving procedure, you have two choices: paying a moving company or get your friend's truck and moving your items with buddies. By hiring a moving company instead of moving without anyone's help, you're getting somebody who will pack, move, and afterward unload your things. This implies a full-service mover can certainly be justified despite the tasks associated with selling your home. Also, when you contract movers your assets are safeguarded so you're secured in the event that anything breaks. Not addressing the exterior of your house Throughout the years, your home's outside has gotten damaged from the elements. With everything the unstoppable force of life tosses at it consistently, the paint on your home's outside and the stain on your deck has likely lost a touch of their radiance. So before posting, make certain to pressure wash your home first. Ensuring your home puts its best self forward in the marketing photos, you will likewise improve the general check offer when purchasers, in the long run, arrive for a tour. Along with pressure washing your home and deck, you can likewise set aside the time to pressure wash your garage door entryway, fence, yard, driveways, and any walkways you may have. One of the primary things a potential purchaser will see when they pull up to your house is the paint. On the off chance that you need to establish a suitable first impression, at that point you'll have to guarantee that your house is painted an intriguing color and that the nature of your paintwork is choice. While the activity of repainting your home may take a couple of days, the benefit of painting your home before selling will be certainly justified regardless of the effort. An ongoing report found that painting the outside of your home has a 51% quantifiable profit. But try not to stop with just the outside! In the event that you happen to have a bold and unfitting divider, you'll need to repaint them to be a more buyer-friendly neutral shade. Doing so will make it simpler for purchasers to have the option to imagine themselves living in your home as it makes them think about your dividers as a clear canvas. more...
One of the all the more captivating patterns from the ongoing 2019 Profile of Home Buyers and Sellers is the rising age demographics of home purchasers. In general, purchasers' ages have hopped from the middle of 31 in 1981 to 47 in 2019. While numerous aspects contribute to the rising age of first-time purchasers, a housing desert with the lack of affordable entry-level properties seems to play a major role. more...
The most noteworthy changes in the latest real estate laws and regulations originate from the passage of Assembly Bill 1482, a statewide rent-gouging prohibition and "just cause for eviction law that will give California the country's most powerful statewide resident protection. more...
In 2019, half of the most competitive neighborhoods for buying a home were in the Bay Area. In a recent report from Redfin, home purchasers seeking an area for the calmest, most floral, and convenient distance to restaurants and markets, was the country's most sought after neighborhood in 2019. About 72% of homes in White Oaks, C.A. sold above asking value this year, and most were available for less than fourteen days. Redfin found the median sale price of a home in White Oaks was valued at around $1,835,000. White Oaks took the top spot in Redfin's positioning of the 20 most competitive neighborhoods, yet it has a great deal of nearby competition. Ten of the top neighborhoods are in the Bay Area and near half of those are in Oakland. more...
12/27/2019
How Fannie Mae Affects Your Mortgage
What is Fannie Mae? The Federal National Mortgage Association, also known as Fannie Mae (FNMA) strongly leads the secondary mortgage market. Alongside its partner, Freddie Mac, Fannie Mae buys about 66% of America's home loans from the moneylenders that start them. This opens up cash opportunities for organizations to continue loaning and buyers can continue purchasing their homes. For the most part, Fannie Mae and Freddie Mac are behind the rate you get from your home loan bank. The two assume a major job in keeping U.S. contract rates moderately low. more...
Downtown Oakland’s development has been long coming, but the 2008 recession delivered a critical blow to the proposed plan. Freezing practically all development in Oakland until around 2015, as high priced rents were driving the residents and organizations out of San Francisco eastbound. more...
According to an analysis completed by ATTOM Data Solutions, buyers willing to close on a home purchase after Christmas should be aware of substantial discounts on single-family homes and condos. These properties fall below full market value in December and have for the past six years. “Closing on a home purchase the day after Christmas or on New Year’s Eve can be one of the most financially beneficial holiday-season gifts you can get. While lots of folks are shopping the day-after Christmas sales or getting ready to ring in the New Year, our data shows that buyers and investors are buying homes on those days at a discount. That’s a far cry from buying during June when they are likely paying about a 7 percent premium.” said Todd Teta, chief product officer with ATTOM Data Solutions. more...
A large house with a sizeable yard and a white picket fence used to be the American dream. Even if you love your house, however, all that space can eventually become difficult to maintain. Especially as we age, many people tire of maintenance and upkeep. Modern seniors want to spend their retirement years living life to the fullest, not cleaning and repairing their property. more...
According to a new analysis by Redfin, Americans stay in their homes for much longer than before creating a shortage in off-market housing inventory. This helps explain why home sales have been fluctuating throughout the year into 2020. Generally, when owners do not shop for a larger home for a growing family or decline as children depart, it stalls the market for buyers who come after them. Long-term homeowners who have remained contributes to the housing inventory falling to their lowest level in decades, which has also contributed to rising housing prices for median-priced homes. more...
Most people find it ideal to purchase a home they want to live in for decades, maybe even forever. But with the rising struggle to overcome the daily cost of living, student loan debt, and almost fair waged jobs, Millennials still statistically face far less chance of homeownership than their generational predecessors. more...
New data by the Census Bureau uncovers how the rising wealth of Bay Area residents supports the demand for Bay Area homes throughout this expansion. Less than 8% of residents earned $200,000 or more in 2018, yet in 2019 almost one of four Bay Area families made a salary equivalent to or more. Since 2010, the quantity of Bay Area homes gaining or over this amount has expanded about 400,000, with close to 80,000 residents in 2018 alone. In San Mateo, Santa Clara, Marin, and San Francisco areas, about one out of three families earned, in any event, $200,000 in 2018. more...
Living in the Bay Area has its fair share of difficulties, from the lofty average cost for basic items to the awful traffic, yet there's no uncertainty that life here is additionally loaded with care-free joy. Stunning natural beauty, a cutting edge tech-driven economy, and a feeling of belonging due to diverse cultures make this area one of a kind. Toss in a world-class social scene and the absolute best colleges on earth, and you can see why eight Bay Area cities made it into the top 10 of a new ranking of best places in California to retire. more...
While Immigration is still a sensitive topic to most Americans, many would agree that what makes America amazing is the melting pot of culture occurring across the nation. The diversity of a city is a unique selling point in deciding where to buy, sell, or even rent a property. So we are proud to congratulate three Bay Area cities with the highest ethno-racial diversity in the country. The personal finance website WalletHub took a snapshot of the nation. Comparing more than 500 of the largest U.S. cities to see which are the most diverse. The company analyzed each city based on ethnicity, race, language, and birthplace. Most of the data used to create this ranking were obtained from the U.S. Census Bureau. more...
11/06/2019
Resources for Unlawful Evictions
The Tenant Protection Act caps annual rent increases at 5% plus inflation, while also forcing landlords to specify a legitimate reason for evicting tenants and to offer relocation assistance for no-fault evictions. While AB 1482: California’s new tenant protection act is set to take effect on January 1st, 2020. Many California residents find themselves receiving wrongful eviction notices from Landlords of their respective homes. more...
A recent report from Realtor.com® confirms that lower mortgage rates have piqued the interest of more buyers this fall. However, the consistently shrinking inventory of lower-cost homes is not keeping up with the high demand of buyers. more...
AB 1482, California's New Tenant Protection Act can get pretty legal pretty fast, so here is what you need to know at a glance:
What the Rent Caps mean to you:
• Starting in January 2020, landlords of multi-family buildings (2 or more apartments) cannot increase your rent by more than 10% annually unless local stricter rent control applies.
• If you are in a multi-family home in a non-rent-controlled city and received a rent increase of OVER 7.8% between March 15th, 2019 and December 31st, 2019 - On January 1st, 2020, your rent will be reduced to reflect only a 7.8% increase.
• Single Family homes not owned by a corporation are exempt from this rent cap law still.
What the “Just Cause” Ordinance means to you:
• Landlords CANNOT conduct No-Fault Evictions without paying you (the tenant) a relocation payment of one month’s rent or what the local laws state if you are in a rent and eviction controlled city.
• However, Landlords CAN evict residents for consecutive delayed rent payments, due to a breach in contract, especially if the resident lived in the unit for less than one year.
We are anticipating questions about both the Tenant Protection Ordinance, and about its effects on local ordinances. Please call (510) 500-7531) or email (dglass@adventpropertiesinc.com), and we will help answer your questions and concerns. more...
Governor Gavin Newsome signed AB 1482 on Tuesday, October 8th, 2019. This new bill implements Just Cause for Eviction and Rent Cap across the State of California. The State of Oregon approved legislation similar to this February 28th, 2019. The new bill is intended to end rent gouging and senseless evictions. However, it does not prohibit cities and counties from creating new legislation or other ordinances that are uncompromising regarding rent caps. The law sunsets on January 1, 2030, so until then here are the highlights from the latest California New Tenant Protection Act: more...
09/24/2019
Always be learning, growing...
"REimagine" 2019 Real Estate Conference
This week, I'm at the California Association Realtors conference in Los Angeles. I'm here to learn more about the Real Estate and Property Management industries. As you're probably aware the real estate market and political arena are constantly changing. more...
09/18/2019
We love our owners, and it shows!
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Property management is not the most glamorous or easy job. Our owners are what make us do a good job. We love when they let us know that we are successful. more...
What Is AB 1482? Assembly Bill 1482 was introduced by District 17 Assemblyman, David Chiu. AB 1482 aims to create a statewide rent cap and establish “just cause” eviction standards. more...
"You Can't Beat The Best"
Advent Properties was graced with the presence of Lara Calvert and Charles Deterline of Spectrum Community Services to present our trophy from the "Feed The Need Tailgate Throwdown" more...
I am proud to present this well-appointed condo in the iconic Ellington Building. This condo is in the heart of the vibrant Jack London neighborhood. Stroll to the shore, cafe, local pub, or restaurant and enjoy the best of what Oakland has to offer. Building features an enviable entryway with 24-hour concierge and door service. Located on the 7th floor, condo features two well-appointed bedrooms and two baths. Large windows bathe the home in abundant natural light, with views of the community pool, marina, and Jack London area. Gleaming wooden floors grace your living areas. Your spring and summer entertaining await on the large private balcony. Workout In the gym and enjoy entertaining in the community room. The condo and building are for those with discerning tastes and solicits pride of ownership. Please contact us to schedule your private showing today! For more details, please feel free to reach out to Darryl Glass at 510.500.7531 or dglass@adventpropertiesinc.com more...
Oakland’s Department of Transportation has issued new guidelines to the City's Title Transfer Sidewalk Repair Ordinance. Among them, here are some of the most relevant to our property owners. more...
Remember that Tax Cuts and Jobs Act that was put into law in December 2017? We sure do, and there were a couple things we need to share about it. As a summary, the new law is a reform for individuals and businesses, by lowering many taxes paid in some income brackets. There were also so changes in the Real Estate industry, which is summarized in the infographic below. Copyright © 2017 Advent Properties, Inc. Privacy Policy By Okralabs, NYC 1600 MacArthur Blvd. Oakland, CA 94602 Tel - +510.250.7918 Fax - +800.507.6593 more...