As a rule, homeowners want low utility bills and high home values. So, it stands to reason that if you are selling your house, your property will be more valuable if it contains new, energy-efficient upgrades such as added insulation, new windows, and electric appliances that keep it comfortable year-round without high utility costs. If … Read more
Last week, I shared some of the changes that have disrupted the real estate market. Here are a few more. Natural Disasters Although there have always been natural disasters, the pace and intensity have certainly increased in recent years. For example, when I was growing up in the Ukiah Valley, we didn’t expect wildfires every … Read more
Here we are at the end of another year, a good time to reflect on how things have gone and to look ahead at what’s coming. With regard to the real estate market, it’s interesting to see what has (and may continue to) affect housing prices and availability. Construction If you have been to the … Read more
In 2017, the State of California passed a law preventing local governments from unreasonably restricting homeowners from adding a second unit to their property, commonly referred to as mother-in-law units. Officially, they are called Accessory Dwelling Units or ADUs. An ADU must be big enough to include a kitchen, a bathroom, and living space—and it … Read more
The Department of Justice is suing the National Association of Realtors for price fixing and restraint of trade. Several major real estate franchises have settled out of court, but I think the DOJ may end up losing this case. Here’s the situation. As the law stands today, when a Realtor lists a property for sale, … Read more
You’ll have to excuse me while I step onto my soapbox for a moment. Government regulation is not only getting in the way of efficiency, which is bad for business, but it is also harming the very people it purports to help. When it comes to rent control, casualty insurance, and financial regulations, the government … Read more
When people’s perceptions about community safety take a negative turn, I pay attention because it usually means there will soon be a decline in property values. People don’t want to live in unsafe neighborhoods. As a real estate broker, this affects my business. However, the real reason I care so much about community safety is … Read more
Recently, I received an inquiry from a retired couple living in Ukiah’s El Dorado subdivision. They asked whether they could take their tax basis with them if they downsized to a smaller home in town. Thanks to Proposition 19, the Property Tax Transfers, Exemptions, and Revenue for Wildfire Agencies and Counties Amendment (2020), the answer … Read more
Unless you have enough cash to buy a home outright, acquiring a home requires finding a lender who thinks you’re a safe bet. This means it’s time to get your finances in order. Affording a home includes both short-term and long-term costs. Lenders can confirm that you have enough money for a down payment, but … Read more