On January 1, 2021, a new law took effect that requires sellers to disclose whether their residential property has been hardened against the threat of wildfire. The law pertains to residential properties with up to four units constructed prior to 2010 (including condominiums and manufactured homes) located in high or very high fire-hazard-severity zones—which includes … Read more
Since homebuyers want to purchase their new house at the lowest possible price and sellers want to sell that house at the highest possible price, usually it’s either a buyers’ market or a sellers’ market. Right now, however, it is both. How? Rock-bottom interest rates. Because interest rates are so ridiculously low right now, buyers … Read more
Every year, the California Association of Realtors does a year-end review of the housing market’s ups and downs. It’s always interesting to see how Mendocino County compares. This year, we’re mostly in line with broader trends, but there are a few interesting departures. Overall, the housing market has become more competitive as demand outstripped supply … Read more
The two biggest buyers of home loans just increased their fee on refinanced loans by a half of a percentage point, thereby reducing the price they’ll pay lenders for those loans. This will make home loans a bit more expensive for borrowers as lenders pass on that fee. This got me thinking, most folks don’t … Read more
In November, California voters approved Proposition 19, the Property Tax Transfers, Exemptions, and Revenue for Wildfire Agencies and Counties Amendment (2020) to take effect April 1, 2021. Presumably, they did so because they believed disadvantaged homeowners should be able to transfer their tax base when they purchase a new primary residence—like those who are disabled, … Read more
When heaters and other appliances that use combustible fuel such as propane or natural gas aren’t installed properly, or when they have cracks or blocked vents, a toxic gas called carbon monoxide can seep into your home. Carbon monoxide results from incomplete combustion, and while safe appliances vent trace amounts of carbon monoxide outside, if … Read more
Years ago, the only service animal most of us knew about was a seeing-eye dog, and no one could deny the legitimacy of that essential service. Then things evolved. Service animals began to help people with both physical and emotional issues, and it became much harder to define which animals should receive the “service animal” … Read more
Recently, I received questions about owning property via a partnership; specifically, how to bequeath a vacation home to two children. Admirably, the property owners wanted to minimize any chances of hard feelings between their grown children. My advice to them? Encourage their children to treat joint ownership of a property like any other business relationship. … Read more
A reader recently expressed surprise and dismay about what she called a “deed exclusion clause” that restricted what she could do on her property. Likely, she was referring to the covenants, conditions and restrictions (CC&Rs), a set of rules that govern how a group of properties will be used and maintained. The goal of CC&Rs … Read more