Category Archives: Uncategorized

San Diego – Median Home Price $540,000

Posted on December 29, 2017 | Leave a comment

The San Diego County housing market is positioned to finish 2017 with near-record prices.

The county median home price has increased 9.1 percent in a year
November’s median price of $540,000 was the second-highest of the year
Real estate agents say buyers are paying more as inventory stays low

San Diego County housing prices: Here’s the full story

In November, the median home price in San Diego County reached $540,000, its second-highest of the year, said real estate tracker CoreLogic. The highest all-time median of $545,000 was in June.

Led by significant price increases in the resale single-family home market, the county’s median home price has increased 9.1 percent in a year.

November’s numbers buck the trend of decreasing or stable prices around the end of the year. Real estate agents say a big reason for the increase this season was a continued lack of homes for sale, based on historic averages, and buyers willing to pay more to get a home.

“A lot of buyers have held out for more inventory coming on the market. They’ve waited and that’s not happening,” said Jan Ryan, a Re/Max agent based in Ramona. “They’ve gotten to the point of realizing it’s not getting any better.”

disclaimer: for information and entertainment purposes only

New California Laws 2018

Posted on December 28, 2017 | Leave a comment

FLOOD ZONES

Mandatory disclosures to tenants: Under AB 646, by Assemblyman Ash Kalra, D-San Jose, a landlord with “actual knowledge” that his or her property is in a flood-hazard area will have to disclose this information to prospective tenants. Property owners with actual knowledge include those notified by a government agency, as well as owners required to carry flood insurance for the property. Under AB 646, the owner will have to make this disclosure in the rental agreement beginning July 1, 2018.

Marijuana

Recreational use: Provisions of Proposition 64 regarding the lawful sale and subsequent taxation of recreational marijuana in California go into effect Jan. 1. Legalizing the sale of marijuana for recreational use, however, doesn’t impede a property owner’s ability to ban the smoking of marijuana on the property. In fact, the proposition expressly allows owners of private property to prohibit any of the actions related to marijuana otherwise permitted by the initiative.

Micro apartments: In addition to the housing-accountability bills, Brown signed CAA-sponsored legislation Monday to increase the state’s stock of micro apartments. AB 352 by Assemblyman Miguel Santiago, D-Los Angeles, will help prevent local governments from establishing roadblocks to “efficiency dwelling units,” which usually measure 220 square feet or less. These units are used by some cities to provide housing for university students as well as shelter and services for homeless individuals.

Disclaimer: for information and entertainment purposes only

What are HOA CC&Rs; and other associations governances and why you should know before you buy

Posted on November 25, 2017 | Leave a comment

Associations typically have five different documents that very much affect association living and governance. In addition to CC&Rs ( Covenants, Conditions, and Restrictions), most associations have Articles of Incorporation, bylaws, operating rules and either a condominium plan or subdivision map. Unfortunately, most homeowners in common interest communities do not read these documents before they close escrow.

A corporation is created when articles of incorporation are filed with the state. In earlier years, articles of incorporation often contained significant limitations on association and board powers. However, all common interest development associations are not incorporated, and those will not have articles. Not all incorporated associations use their legal name. The bylaws will usually on the first page state the association’s correct name and indicate whether it is a corporation. The Secretary of State can provide a duplicate copy of articles, and its web site will indicate if the corporation is still in good standing – visit www.businesssearch.sos.ca.gov.

Bylaws, unlike articles of incorporation, are not filed with any public agency. Bylaws address governance topics such as the powers and limitations of the board, information on membership meetings, and board eligibility. Bylaws should not address the property, but how the corporation governs.