Interest rates can have a dramatic effect on the cost of real property over time. To guard against rate changes during the escrow process, buyers sometimes opt for a rate-lock. That is, when a property is in escrow and interest rates are favorable, a buyer can pay a fee (called points) or pay with a … Read more
As I mentioned last week, Mendocino County staffers in the Planning Department have published their proposed County Oak Tree and Oak Woodlands ordinance, an ordinance required as part of local cannabis regulation. Staffers were supposed to write an ordinance that prevented the wholesale clearing of oak woodlands to plant cannabis, which has some merit. Instead, … Read more
On November 5, I attended a public workshop to review the proposed Mendocino County Oak Tree and Oak Woodlands ordinance, an ordinance intended to prevent the wholesale clearing of oak woodlands to plant cannabis. While I support its intent, it is so poorly written that even my tree-hugging, environmental-crusader friends will likely take issue with … Read more
Recently, a local woman who’s lost her extended family to moves out of state asked me for advice. She’s concerned that her remaining grandchild will move away, too. She said, “Our last grandchild (a young adult) and her boyfriend would love to buy a house here and we are thrilled. But finding one they can … Read more
If you’re a homeowner, you’ve probably been receiving mailers encouraging you to refinance your property. For once, your junk mail is giving you good advice. In my 45 years in real estate, I have never seen such low interest rates. If you have not refinanced recently, I highly recommend calling your Realtor for a referral … Read more
Eventually, scientists will develop a vaccine for COVID-19 and life will return to some semblance of normal. Kids will attend school in classrooms with peers, grocery shopping won’t require masks, and we’ll be able to gather with friends and family to celebrate special occasions. However, some things will never go back to the old normal. … Read more
COVID-19 will eventually fade from the daily news. I don’t know if it will ever go away completely, but once there’s a vaccine, it won’t be on our minds the way it is now. Some effects, however, will stick around, including our awareness about how viruses spread—and that will likely alter expectations between landlords and … Read more
Recently, a Gallup poll indicated that Americans are losing some of their enthusiasm for investing in stocks after U.S. equity markets dropped in the wake of COVID-19. In July, only 21 percent of people considered stocks the best investment, down six percentage points from last year and the lowest Gallup has recorded in almost a … Read more
A new law goes into effect January 1, 2021, that allows tenants to purchase the residence they’re living in from the low bidder for that property at a foreclosure auction. This will have a chilling effect on investors’ willingness to bid on foreclosed properties. The skewed news article I read suggested that this law prevents … Read more