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
When it comes to selling your house, it can be tempting to ignore some of your Realtor’s advice, especially when they want you to do a bunch of work that may seem unnecessary. The fact is you are not objective about your house. No one is. A Realtor can help you see your own blind … Read more
Besides satisfying your curiosity, knowing your home’s value can come in handy. A home appraisal is an unbiased evaluation to determine your property’s market value. This is the third of a three-part series. Eminent domain Litigation can generate the need for an appraisal in several ways. Let’s say the government plans to expand a roadway … Read more
Besides satisfying your curiosity, knowing your home’s value can come in handy whether you’re litigating a legal case, dealing with estate issues, or managing an insurance claim. A home appraisal is an unbiased evaluation to determine your property’s market value. This is the second of a three-part series. Bankruptcy or other litigation In the event … Read more