The Median Price at the End of December was $509K However, the median varies greatly for different counties. Highest in the State is Marin at $942K followed by San Mateo at $895K. The highest in Southern California is Orange County at $661K, while the lowest in So. Cal. is San Bernardino at $192K. So if […]
Unlawful Detainer Action Only for Material Tenant Breach
The Courts Giveth and the Courts Taketh Away. A few months ago, a number of California landlords and their attorneys had the unusual sense that the courts had indeed given them something. On October 1, 2015 a decision was filed in the case of Boston LLC v. Juan Juarez (Appellate Division, Los Angeles County Superior […]
2014-2015 CalBRE Licensee Report
(From July 1, 2014 to June 30, 2015) #1- The number of Licensees dropped by 2,028 from 412,835 to 410,807 Licensees. #2- However, this number did increase from May of this year to June by a whole 437; it finally might continue upward again. I know present licensees would like the number to drop, but you do […]
FHA AND VA CERTIFICATION ARE USEFUL FOR CONDOMINIUM DEVELOPMENTS
Buyers who qualify for FHA and/or VA mortgages are frequently shut out of purchasing opportunities because there are many condominium developments that have not obtained approval from the FHA or VA. A recently-approved law in California aims to help rectify that situation. On Wednesday, August 12, Governor Jerry Brown signed into law Assembly Bill 596 […]
Are Real Estate Agents Vulnerable to Law Suits?
That is obviously a rhetorical question. The question might be, “Where are they the most vulnerable”? The one area that yields the most problems is non-disclosure of home defects. Yet, only 83% of the Realtors are protected by the famous Errors and Omissions insurance. Also, there are thousands of agents in California who are not […]
Let’s Talk Movies
Everyone is a movie critic, as I believe I am. Some use thumbs-up, stars, checks, numbers, but I will just say, “Should you watch or not watch a movie”? MCFARLAND; This small farm town just north of Bakersfield made the papers some years ago when a bunch of the students who worked the fields won […]
Personal Assistants Still Not Independent Contractors
There has been a fair amount of celebrating in the real estate industry over a recent Massachusetts Supreme Court ruling that upheld the independent contractor classification of real estate salespersons. However, not only is the decision in Monell v. Boston Pads a rather narrow one, based on an unusual circumstance in that state’s law, but […]
NAR Report Tells Where Dangers Lurk
Last week we discussed the D.A.N.G.E.R. Report that was recently released by the National Association of Realtors® (NAR). NAR commissioned Stefan Swanepoel and his T3 group to prepare the report on threats facing the real estate industry. D.A.N.G.E.R. here stands for “definitive analysis of negative game changers emerging in real estate”. The report’s results are […]
Q&A In Lending Does Not Mean Questions and Answers
Two words people should understand are Prequalified and Preapproved. Buyers and Sellers should know the difference. It is important. I will quote the Consumer Financial Protection Bureau site: “Prequalification is a lender’s estimate of how much you could be eligible to borrow based on information you supply. Prequalification does not mean you will get the […]
2015 Reverse Mortgage Changes
HUD has been discussing changes to Reverse Mortgages for a long time. Many changes have already been introduced such as limits on the amount someone can receive in year one, waiting periods, etc. All of the changes are designed to protect consumers from making risky decisions. One procedure has been discussed since 1/13/2004 and promulgated […]