California remains in the midst of a serious housing shortage. So, either lots of people need to move out of the State, or we need more housing—maybe both. Last year marked the seventh year in a row that more people moved out of the state than moved in. However, even with this exodus, we still … Read more
What’s the difference between a local real estate franchise and an unaffiliated real estate company? In most ways they are the same. They have the same licensing requirements and Realtors perform the same functions to help people buy and sell property. The differences between a franchise and an unaffiliated office are primarily in two categories: … Read more
As I mentioned last week, in the wake of COVID-19 the real estate industry, like many industries, is in the process of completely rethinking its service delivery model. People can’t very well meet in-person and then go through one another’s homes, touching things as they go and breathing in virus-laden droplets. We need to move … Read more
Until recently, homes for sale throughout Mendocino County were full of potential buyers ready to put a down-payment on their next home. Buyers spent weekends visiting open houses where they picked up finger foods before walking from room to room, opening cabinets, looking in closets, and sizing up spaces to see if their furniture would … Read more
I’ve been in real estate for more than 40 years, and the vast majority of transactions I’ve witnessed have been between people who are honest and forthright. However, I have also seen a few disreputable shysters take advantage of unsuspecting victims, which is why I recommend a trust-but-verify approach—and that includes always getting title insurance. … Read more
You’d be amazed how many people buy real estate from a neighbor or a friend only to find out they bought the property from someone who didn’t own it free and clear. People can have undisclosed rights to your property, so it’s important to be aware of these. How do you do this? Through title … Read more
On March 16, Governor Gavin Newsom signed Executive Order N-28-20 with much fanfare, paying homage to COVID-19 and declaring an emergency in California and worldwide. His order recommended that local jurisdictions follow the state’s lead and do two things: Enact a moratorium on tenant evictions for commercial and residential properties if tenants can prove financial … Read more
Typically, when a property changes ownership, a new tax base is established. Since property taxes are paid at the same time every year, new property owners have to pay a “supplemental property tax” to cover the time from the close of escrow (purchase date) to the beginning of the fiscal year when property taxes are … Read more
I’ve written three “Real Estate Investing” columns covering single-family residential properties; duplexes and four-plexes, apartment complexes with fewer than five units and larger apartment complexes (with up to sixteen units). I recently received a request to write a column on investing in commercial real estate, so here you go. Commercial Property Rentals Commercial property is … Read more