Several people have asked recently whether they should wait a couple of years before plunging into the housing market because they believe housing prices may drop. It is almost impossible to time the market, so in general, my advice is to buy a house when you need and can afford one. However, it’s interesting to … Read more
For years, Mendocino County Realtors have had to explain to clients why their pricing recommendations don’t match the ones on Zillow. Countless sellers have said, “Wait, Zillow says my home is worth $500,000. Why are you only saying $450,000?!” The answer is simple. Zillow uses an algorithm. No one from Zillow ever steps foot inside … Read more
If you ever decide to sell your house, you’ll be required to disclose information to potential buyers about anything that could influence their decision to buy the property or the price they would be willing to pay for it. This disclosure rule is the law and the right thing to do. When agents ask me … Read more
When you live in a home owned by someone else, you are living in one of four types of tenancy: fixed-term, periodic, tenancy at will, or tenancy at sufferance (also called holdover tenancy). It’s important for tenants and landlords to understand the rights and responsibilities that come along with each arrangement. Fixed-Term Tenancy The first … Read more
When it comes to renting your property to a new tenant, it is worth investing the time to screen the tenant thoroughly, because the process of evicting the wrong tenant is no fun. Trust But Verify In low-stakes situations, it’s fine to assume the best of people; however, when it comes to renting your property … Read more
When you buy real estate, the assessed valued is divided between the land and any improvements; improvements can include everything from houses and other structures to landscaping and septic systems, basically anything that isn’t bare land. Figuring out how best to divide the value between land and improvements is as much an art as it … Read more
Did you know that if you are 62 or older, you can use a reverse mortgage to borrow against the equity in your home? Instead of making mortgage payments, the bank will pay you, either in a lump sum, with monthly payments, or via a line of credit—and as long as you continue to live … Read more
Every year, the California Association of Realtors (CAR) makes projections for the coming year based on housing trends and financial market activity. In late 2021, CAR said home prices will likely continue to increase and that home sales will slow. Their projections are based on statewide data but based on what’s happening locally, I think … Read more
Homeowners’ insurance companies have taken a beating in recent years, especially those that cover homes in rural areas like ours. Consider the payouts to homeowners in Redwood Valley, Potter Valley, and other communities devastated by wildfire. The unfortunate result is that homeowners throughout Mendocino County are getting notes like the one I just received from … Read more