Category Archives: Real Estate

Change in state law (Calif) addresses common area for HOA

Posted on September 6, 2016 | Leave a comment

Definitions of exclusive use common areas can be found in either the Condominium Plan, the CC&Rs, or in the Civil Code. Civil Code Section 4145 provides

the default definition, if the governing documents do not fully cover

the topic, which includes: “shutters, awnings, window boxes, doorsteps, stoops, porches, balconies, patios, exterior doors, doorframes, and hardware incident thereto, screens and windows or other fixtures designed to serve a single separate interest, but located outside

the boundaries of the separate interest…”.

Fixtures

serving a single unit but existing outside of the boundaries of the unit may include water heaters, or air conditioning equipment, for example.

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10 things to look for in a rental property investment

Posted on August 19, 2016 | Leave a comment

Want to buy an investment property? Take a good look at yourself, just as closely as at the properties you might be thinking of buying, recommends property investor David Wayne.

Contact the appraisers at http://www.scappraials.com; they value income producing properties.

“I try to gauge what I like most in a home, and then look at the kind of property, whether an apartment or house, that will match what I’d like myself, ” says Wayne, 50, who’s just going through a mid-life change of career from forensic accountant to lawyer.

“You need to be able to empathise with your potential tenants when choosing a property, so you buy something that’s going to appeal to renters as much as it does yourself, and deliver the kind of returns you hope for.”

So what are the 10 top things you need to know to buy an investment that’s going to provide a good flow of revenue, and hopefully show plenty of capital growth by the time you want to sell?

Make sure you do your research, advises EPS Property Search buyers agent Patrick Bright, the author of The Insider’s Guide to Buying Real Estate. “You need to know what kind of property is in demand, or is going to be in demand, in different areas,” he says. “And that’s the kind of property you want to buy.” Talk to property managers, check ads, and talk to buyers agents to find out what’s the most desirable type now and for the future.
Don’t just look at the likely rental returns, says Clare Rutledge, senior sales adviser at Urban Living by LJ Hooker. “It’s important to look at something in terms of its capital growth too,” she says. “Sometimes that can be just as important.” That may make particular sense if you’re planning to negatively gear a property.

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New Law Eases Condo Lending Requirements

Posted on August 16, 2016 | Leave a comment

H.R. 3700, the “Housing Opportunity Through Modernization Act,” officially became the law of the land over the weekend with the signature of President Barack Obama.

NAR President Tom Salomone hailed Senate passage of the legislation earlier this month, saying H.R. 3700 will “put the dream of homeownership back in reach for more Americans.”

Realtors^® have reason to celebrate today as legislation easing restrictions on FHA financing for condominiums is finally signed into law,” Salomone said. This is a long-awaited victory for NAR and for homebuyers for whom condos are an important and affordable option.”

In particular, Salomone praised sections of the bill that reform current Federal Housing Administration restrictions on condominium financing, noting that condos represent an affordable option for low and moderate-income buyers, as well as first-time buyers. He also showed NAR’s appreciation for the work on Capitol Hill that went into passing the bill.

“NAR thanks Reps. Blaine Luetkemeyer (R-Mo.) and Emanuel Cleaver (D-Mo.), as well as Sens. Tim Scott (R-S.C.) and Robert Menendez (D-N.J.), for helping usher this legislation

Watch a video or read more to get more information at: http://narnewsline.blogs.realtor.org/2016/08/01/video-nar-condo-legislation-signed-into-law/

disclaimer: for information and entertainment purposes only

Category Archives: Real Estate

Change in state law (Calif) addresses common area for HOA

10 things to look for in a rental property investment

New Law Eases Condo Lending Requirements

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