Laws affecting real estate
California Assembly bill AB1406 seeks to raise from 3% to 10% the cost that a buyer of a newly constructed residence has to pay if they back out of their purchase contract (without contingencies). This bill is widely supported by pro-housing and YIMBY groups. It is expected to make construction loans cheaper for builders. However, […]
AB 1406 – Automatic 10% Damages For New Construction Purchase Read More »
Does the need for more housing that is affordable mean simply low-income housing? Projects that are being proposed focus on building small condos as the path to creating more affordable housing. That does not address what most residents want. If you look at the price growth of condos vs. houses, you will see that the
Building “Affordable Housing” Read More »
There seems to be ample fear, uncertainty, and doubt about the new senate bill 9 ( SB 9 ). City governments are described as scrambling to enact urgent ordinances. Many of the news reports emphasize that four homes would be built where there is currently only one. The biggest change seems to be that city
SB 9 – California Senate Bill 9 Read More »
Assembly Bill 3182 (Civil Code Section 4740 and Civil Code Section 4741) limits the restrictions common interest developments may impose on offering units for rent. It took effect Jan 1, 2021. A common interest development may cap the number of rentals to 25% or more. ADUs and junior accessory dwelling units (JADUs) can not be
Renting Out Your Condo or Townhouse Read More »
New laws taking effect January 1, 2021 enable more homeowners to build ADUs and in many cases make obtaining permits much quicker and less expensive. ADUs are also called: granny flats, in-law units, backyard cottages, second dwelling units, etc. Automatic Approval: Cities/counties must permit certain categories of ADUs without applying any local development standards if
ADU – Accessory Dwelling Unit Read More »
