Cecily Tippery's Real Estate Blog

That time of Year, Predictions in Real Estate

Cecily — Wed, 28 Dec 2011 00:12:00 +0000

Almost everyone is asking me “What do I hear from the banks?” Well, nothing, we have been hearing very little. Along with the robo signing debacle and government trying to help homeowners, we have unemployment which is literally the elephant in the room. Banks are not releasing inventory or not continuing the foreclosure process over the holidays. Trulia indicates that although current notices are down, there is a back log of homes that have not been started or are in process. In addition, as long as people are not working, then homes cannot be purchased or refinanced. At this moment, in our local market, we generally have less than 2 months inventory available for sale. This is artificially driving prices up. Foreclosure homes are actually selling in the same range, or just slightly above, as a short sale. The more traditional owner occupied home with equity is selling higher than both.

So, if we have high unemployment, low inventory and a backlog of possible foreclosures. In our market, and every market, is local, then who can say what will happen. Based on the most recent data from Foreclosure Radar, both notices of default and actual sales are lower than previous years, but both have jumped and are close to the same November numbers last year. I predict that we will yet again have a lackluster year with foreclosures coming back in March and April. Prices may remain stable until we reach four to five months inventory then come down again but will fluctuate in some cities more than others, Brentwood will remain more stable, followed by Oakley, Discovery Bay and Antioch and Pittsburg.

Nov 11 Chart 2011

Filed under: For Buyers, For Realty Professionals, For Sellers, General Information Tagged: Antioch, Discovery Bay, foreclosure, Inventory, Owner-occupier, Real Estate, short sale, Trulia

2010-2011 Real Estate Legal Update

Cecily — Thu, 01 Sep 2011 21:04:01 +0000

Please see below: CAR Legal Updates directly fromt he California Association of Realtors website, CAR.org. A lot of new stuff, links are not active so if desired, go to http://www.car.org/legal/2011-new-laws/

2011 New Federal and State Statutes Including Statutes Passed During 2010

This chart summarizes all the new laws passed by the California and Federal legislatures affecting the real estate industry in the upcoming year as well as emergency legislation passed during 2010 that went into effect immediately. The chart includes not only a summary of the laws but also a link to the text of each statute, regulation, or proposition.

Topic	Law	Description
Advance Fee	AB 1762 (eff. Jan. 1, 2011) Advance fee prohibition clarification	An advance fee is defined as a fee that is claimed or received by a real estate licensee from a principal before fully completing the services or a listing that the licensee contracted or represented would be performed.This law redefines the term by adding certain exemptions. In particular, it exempts limited service contracts for stand-alone services. This means a licensee may provide stand-alone services performed on a task-by-task basis, for which compensation is received as each separate, contracted-for task is completed. To qualify for this exclusion, all services performed under the contract must be described in subdivision (a), (b), or (c) of Cal. Bus. & Prof. Code 10131.A contract between a broker and a principal that requires payment of a commission to the broker after the contract is fully performed does not represent an agreement for an advance fee. In addition, the law exempts the advertising of real estate or a business opportunity from the advance fee prohibition provided the publication or electronic media is not under the control or ownership of the broker. Repeals and adds Section 10026 of CA Business and Professions Code.
Advertising	AB 1373 (eff. Jan. 1, 2011) Restrictions and disclosures on grant deed copy service	This law cracks down on the mailed advertisements sent to property owners offering, for compensation, to provide a copy of the grant deed or other record of title by making it a crime unless certain disclosures are provided and the advertisement does’t mislead a person into believing that the company is affiliated with a government agency. Section 17537.10 is added to the Business and Professions Code.
Business Structure	SB 392 (eff. Jan. 1, 2011) Licensed contractors may now be formed as an LLC	This law authorizes the Contractors’ State License Board, commencing no later than Jan. 1, 2012, to issue a contractor’s license to a limited liability company (LLC) and authorizes the responsible managing manager, officer, member, or employee of the LLC, to qualify for that license. In order to be licensed as an LLC, the applicant or licensee must have a surety bond in the sum of $100,000.Amends Sections 7025, 2028.5, 2029, 7065, 7065.1, 7065.5, 7068, 7068.1, 7068.2, 7069, 7071, 7071.7, 7071.8, 7071.9, 7071.11, 7071.17, 7072.5, 7075.1, 7076, 7076.2, 7085.6, 7090, 7090.1, 7096, 7121, 7121.1, 7121.5, 7121.6. 7122, 7122.1, 7122.2, 7122.5, 7137, 7138, 7152, 7159, and 7159.10 and adds Sections 7071.6.5, and 7071.19 to the CA Business and Professions Code.
Common Interest Developments (CID)	AB 2016 (eff. Jan. 1, 2011) CID request for notification of trustee’s deed of sale	Under existing law an HOA is permitted to record a single request that a mortgagee or trustee mail to the association a copy of any trustee’s deed upon sale concerning a separate interest in the CID. This law clarifies that the request for notification does not constitute a document that effects or evidences a transfer or encumbrance on the property nor does it release or terminate any interest, right, or encumbrance of an interest in the real property.Amends Section 2924b of the CA Civil Code.
Disclosure	SB 183 (eff. Jan. 1, 2011) Carbon monoxide detectors; smoke detectors and water-heater bracing disclosure	This law revises the TDS and MHTDS to include a disclosure regarding compliance with the smoke detectors and water-heater bracing laws (eliminating the need for separate disclosure forms). The TDS and MHTDS will also add a disclosure regarding carbon monoxide detection devices.This law enacts the Carbon Monoxide Poisoning Prevention Act of 2010. The law requires a carbon monoxide device (battery or hard-wired) to be installed in a “dwelling unit intended for human occupancy.” A violation is punishable by a maximum fine of $200 for each offense. Owners of residential rental property must also comply with this law. Tenants are responsible to notify the owner of an inoperable or deficient carbon monoxide device.Installation Time Period: On or before July 1, 2011 for existing single-family dwelling units On or before Jan. 1, 2013 for all other existing dwelling units Amends Sections 1102.6 and 1102.6d of the CA Civil Code and adds Sections 13260, 13261, 13262, 13263, 17926, 17926.1, and 17926.2 to the CA Health and Safety Code.
Foreclosure	AB 2325 (eff. Jan. 1, 2011) Forensic loan audits added to definition of services under Mortgage Foreclosure Consultant law	A foreclosure consultant is any person who makes any solicitation, representation, or offer to any homeowner to perform certain services relating to foreclosure sales and loan modifications (“forbearance from any beneficiary or mortgagee”), including debt, budget, or financial counseling, and credit repair, for compensation. There are certain exemptions under the law. A violation of the law can impose criminal penalties.This new law adds forensic loan audits to the definition of services under the Mortgage Forclosure Consultant law by adding CA Civil Code Section 2945.1(e)(9).Amends Section 2945.1 of CA Civil Code.
Foreclosure	SB 1221 (eff. Jan. 1, 2011) Trustee’s Sale – Notice of Sale can be given 85 days after recordation of NOD instead of 3 months (90 days)	Under existing law governing trustee sales, the Notice of Sale cannot be filed until at least 3 months after the filing of the Notice of Default (NOD).This new law permits the filing of a Notice of Sale up to 5 days before the lapse of the 3-month period provided that the actual date of the sale is no earlier than 3 months and 20 days after the filing of the NOD.Amends Sections 2924 and 2924c of the CA Civil Code.
Home Energy Ratings	AB 1809 (eff. Jan. 1, 2011) Home inspection to include HERS home energy audit, if requested	This new law authorizes a home inspection to include, if requested by the client, a Home Energy Rating System (HERS) Program energy audit.For more information about the California Energy Commission’s regulations, standards, and approved HERS providers, go to http://www.energy.ca.gov/HERS/index.html.Adds Sections 7199.5 and 7199.7 to the CA Business and Professions Code.
Housing	SB 454 (eff. Jan. 1, 2011) Extension of government-subsidized rental housing notice and procedural requirements	This law extends existing law (which would have ended January 1, 2011) that imposes notice and procedural requirements on an owner of government-subsidized rental housing regarding the owner’s decision not to extend or renew participation in the specified government-subsidized housing programs.Amends Sections 65863.10, 65863.11, and 65863.13 of the CA Government Code.
Housing	SB 1483 (eff. Jan. 1, 2011) Extension of Multifamily Improvement District Law	Existing law established the Multifamily Improvement District Law to create multifamily improvement districts within a city or county and permitting the levy of assessments on residential rental proprties within the district for the purpose of financing certain improvements and promoting certain activities beneficial to those properties.This law extended these provisions until Jan. 1, 2022.Amends Section 36710 of the CA Streets and Highways Code.
Identity Theft	SB 1087 (eff. Jan. 1, 2011) Restitution for identity theft victims	This law requires a defendant convicted of the crime of identity theft to pay restitution to the identity theft victim. The court order by the criminal court will be enforceable as if the order were a civil judgment. Amends Section 1202.4 of the CA Penal Code.
Internet	SB 1411 (eff. Jan. 1, 2011) Misdemeanor to impersonate another person on the internet	This law provides that any person who knowingly and without consent credibly impersonates another actual person through or on an Internet Web site or by other electronic means (e.g., opening an e-mail account or an account or profile on a social networking Web site in another person’s name) for purposes of harming, intimidating, threatening, or defrauding another person is guilty of a misdemeanor. The violation is punishable by a fine not exceeding $1,000 or by imprisonmen in a county jail not exceeding one year or by both. The injured person is authorized to bring a civil action against the perpetrator. Adds Section 528.5 to the CA Penal Code.
Land Use	AB 1965 (eff. Jan. 1, 2011) Agricultural: Williamson Act extension of automatic termination date for a lot line adjustment	The Williamson Act authorizes a city or county and a landowner of agricultural land to rescind a contract and simultaneously to enter into a new contract to facilitate lot line adjustments.This law extends the repeal date of the contract rescission provision to Jan. 1, 2013.Amends Section 51257 of the CA Government Code.
Land Use	AB 1684 (eff. Jan. 1, 2011) Adverse Possession: Tax payments must have been timely for an adverse possession claim	Under existing law, a claimant making an adverse possession claim must show that the land has been occupied and claimed for a continuous period of 5 years and the claimant and/or predecessors and grantors have paid all state, county, or municipal taxes levied and assessed upon the land.This law adds the condition that the tax payments must have been made in a timely manner as established by certified records of the county tax collector.Amends Section 325 of the CA Code of Civil Procedure.
Land Use	SB 1427 (eff. Jan. 1, 2011) REO owner notice of violation of abandoned property ordinance	Existing law requires a legal owner of vacant residential property purchased at a foreclosure sale to maintain the property with penalties for failure to maintain of up to $1,000 per day per violation.This law requires the government to provide the owner who purchased the property at a foreclosure sale with a notice of the violation and an opportunity to correct it before imposing the penalty. However, the notice requirement doesn’t apply if the condition of the property threatens public health or safety.Adds Sections 2929.4 and 2929.45 to the CA Civil Code.
Landlord-Tenant	SB 782 (eff. Jan. 1, 2011) Tenant protection for domestic violence victims	Starting Jan. 1, 2011, a residential landlord cannot terminate or fail to renew a tenancy based on domestic violence against the tenant or tenant’s household members as specified. This law applies if the person restrained from contact with the tenant by court order or named in a police report is not also a tenant of the same dwelling unit. If the protected tenant subsequently allows the person restrained to visit the property, or the landlord reasonably believes the person restrained poses a physical threat to others or to quiet possession by other tenants, the landlord may serve a three-day notice to correct or quit. To further ensure safe housing for domestic violence victims, this law also requires that, for leases entered into after January 1, 2011, a landlord changes the exterior locks of a protected tenant’s dwelling unit within 24 hours after the tenant provides a written request and supporting court or police documentation as specified.Adds Sections 1941.5 and 1941.6 to the Civil Code, and adds Section 1161.3 to the Code of Civil Procedure.
Landlord-Tenant	AB 1263 (eff. Jan. 1, 2011) Unlawful detainer of commercial tenant	This law changes the method of serving an unlawful detainer notice on a commercial tenant. The law provides that service on a commercial tenant can be made by any of the following methods: (1) delivering a copy to the tenant personally,(2) leaving a copy with some person of suitable age and discretion at the property and sending a copy through the mail, as specified, or (3) by affixing a copy in a conspicuous place on the property and sending a copy through the mail, as specified. Amends Section 1162 of the CA Code of Civil Procedure.
Landlord-Tenant	SB 1149 (eff. Jan., 1, 2011) Prohibits general release of court records in foreclosure-related eviction unless landlord prevails; New cover page with Notice to Quit to tenants after a foreclosure	This law authorizes a court clerk to allow access to court records of eviction proceedings involving residential property that has been sold in foreclosure if 60 days have elapsed since the complaint was filed and judgment was entered against all the defendants (tenants).This law also requires, until Jan. 1, 2013, that any Notice to Quit served to a tenant of residential property within one year after a foreclosure sale include a separate cover sheet containing an additional notice to tenants (statutory language in Section 1161c(b) and (c)).Amends Sections 1161.2 and 1166 and adds Section 1161c of the CA Code of Civil Procedure.
Landlord-Tenant	AB 1800 (eff. Jan. 1, 2011) Unlawful renting of residential dwelling	Existing law makes it a misdemeanor for a person to claim ownership or take possession of someone else’s residential property for the purpose of renting or leasing it to another without the consent of the owner. This law increases the penalties for this offense to a maximum of $2,500 or imprisonment in a county jail not exceeding one year or by both.Amends Section 602.9 of the CA Penal Code.
Landlord-Tenant	H.R. 5297 (Section 2101(h)) (Small Business Jobs and Credit Act of 2010) (eff. Jan. 1, 2011) Landlords to report payments of $600 or more on IRS Form 1099	H.R. 5297 includes an expansion of the 1099 reporting related to a trade or business. Under existing law only those real estate professionals engaged in property management-type businesses have been required to file Form 1099. This new federal law extends the Form 1099 requirement to any person who receives rental income. This requirement would apply to any landlord (including a small investor), rather than only those who are in the business of managing property.Starting Jan. 1, 2011, any person who receives rental income must provide a Form 1099 for all payments of $600 or more made to service providers such as plumbers, carpenters, yard services and repair people. The purchase of goods is not included within the reporting requirement. The Form 1099 is provided to the IRS and to the service provider. The new requirement applies to both residential and commercial property.
Litigation: Jury Trials	AB 2284 (eff. Jan. 1, 2011) California Expedited Civil Jury Trials Act	This law establishes the Expedited Jury Trials Act (until Jan. 1, 2016), a new system whereby parties sign a consent order for a jury trial in civil cases to permit expedited procedures including a jury of 8 or fewer (now 12), with no alternates, a limit of 3 peremptory challenges for each side, and a limit of 3 hours for each side to present its case. The parties also waive all rights to appeal with the verdict being binding subject to a written ligh/low agreement (a written agreement entered into by the parties that specifies a minimum amount of damages that a plaintiff is guaranteed to receive from the defendant, and a maximum amount of damages that the defendant will be liable for, regardless of the ultimate verdict returned by the jury. Neither the existence of, nor the amounts contained in any high/low agreements, may be disclosed to the jury.)Adds Sections 630.01 through 630.12 of the CA Code of Civil Procedure.
Loan Limits	H.R. 3081 (Making Continuing Appropriations for Fiscal Year 2011, and for Other Purposes-Sections 144 and 145) (eff. Sep. 30, 2010) Fannie Mae, Freddie Mac, and FHA loan limits	Among other things, this federal law states that, for home equity conversion mortgages (HECMs, or reverse mortgages) for elderly homeowners for which the mortgagee issues credit approval for the borrower during fiscal year 2011, mortgage insurance benefits may not exceed 150% of the maximum dollar amount in effect of the original principal obligation of conventional mortgages purchased by the Federal Home Loan Mortgage Corporation (Freddie Mac).This law also extends through fiscal year 2011 the current 2010 Federal Housing Administration (FHA), Federal National Mortgage Association (Fannie Mae), Federal Home Loan Mortgage Corporation (Freddie Mac), and Government National Mortgage Association (Ginnie Mae) loan limits for high-cost areas, allowing agency discretion to increase such limits for sub-areas meeting specified requirements. Current mortgage limits can be found on the Real Estate Regulatory Updates page of car.org by looking under the applicable federal agency.
Mobilehomes	SB 1047 (eff. Jan. 1, 2011) Tenant provisions also apply to members of a nonprofit mutal benefit corporation that lease a space in the park	The Mobilehome Residency Law (MRL) governs tenancies in mobilehome parks. The law also contains special provisions that apply to residents who have an ownership interest in the mobilehome park.This new law provides that Sections 798 through 798.88 of the MRL also applies to park residents of a mobilehome park owned and operated by a nonprofit mutual benefit corporation whose members consist of the park residents.Amends Section 799.1 of the CA Civil Code.
Mobilehomes	AB 2120 (eff. Jan. 1, 2011) Copy of MRL to be given to park residents by the mobilehome park management	Existing law requires the managment of a mobilehome park to provide all the homeowners with a copy of the Mobilehome Residency Law (MRL) by Feb. 1 of each year, if a significant change was made to the law in the prior year.This law instead requires management to either provide all homeowners with a copy of the MRL or to notify all homeowners that a change has been made by legislation enacted in the prior year and to provide a copy of those provisions to the homeowners upon request within 7 days of the request.Amends Section 798.15 of the CA Civil Code.
Mortgage Loan Broker	12 CFR Part 226 (Reg Z Docket No. R-1366) (eff. April 1, 2011) Mortgage loan originators may not receive compensation based on the interest rate or other loan terms	The Federal Reserve Board (Board) has published final rules amending Regulation Z, which implements the Truth in Lending Act and Home Ownership and Equity Protection Act. The purpose of the final rule is to protect consumers in the mortgage market from unfair or abusive lending practices that can arise from certain loan originator compensation practices, while preserving responsible lending and sustainable homeownership.The final rule prohibits payments to loan originators,which includes mortgage brokers and loan officers, based on the terms or conditions of the transaction other than the amount of credit extended. The final rule further prohibits any person other than the consumer from paying compensation to a loan originator in a transaction where the consumer pays the loan originator directly.The Board is also finalizing the rule that prohibits loan originators from steering consumers to consummate a loan not in their interest based on the fact that the loan originator will receive greater compensation for such loan. The final rules apply to closed-end transactions secured by a dwelling where the creditor receives a loan application on or after April 1, 2011.
Mortgage Loan Broker	SB 1137 (eff. Jan. 1, 2011) Mortgage loan orginator license endorsement	Among other provisions, this law makes it unlawful for a real estate broker to employ or compensate, directly or indirectly, any licensee for engaging in any activity for which a mortgage loan originator license endorsement is required if that licensee does not hold a mortgage loan originator license endorsement. It is a crime for a person to act as a mortgage loan originator without a license endorsement or to advertise using words indicating the person is a real estate salesperson or a mortgage loan originator without having a license or license endorsement. It also authorizes the DRE Commissioner to deny, suspend, revoke, restrict, condition, or decline to renew a mortgage loan originator license endorsement, or take other actions, after notice and opportunity for a hearing, under specified conditions.See the DRE Web page for all the details at http://www.dre.ca.gov/lic_sb36_safe.html.In addition, this law requires a licensed finance lender or broker that employs one or more mortgage loan originators that makes residential mortgage loans to maintain a net worth of $250,000 and if only arranging but not making such loans to maintain a net worth of $50,000. Amends Sections 10137, 10139, 10166.01, and 10166.02 and adds Section 10166.051 of the CA Business and Professions Code; Amends Sections 22104, 22107, 22109.1, 22109.4, 22112, 50002, 50141, 50144, and 50700 of the CA Financial Code.
Power of Attorney	SB 1038 (eff. Jan. 1, 2011) Attorney-in-fact now may be liable for losses to principal’s property	The Power of Attorney Law creates various duties and requires an attorney-in-fact to observe the standard of care that would be observed by a prudent person dealing with property of another, or if an attorney-in-fact has special skills he or she must observe the standard of care that would be observed by others with similar skills.However, this law deletes the existing provision that an attorney-in-fact is not liable for a loss to the principal’s property if he or she is not compensated, unless the loss results from his or her bad faith,intentional wrongdoing, or gross negligence.Under this new law, if the attorney-in-fact breaches a duty pursuant to the Power of Attorney Law he or she is chargeable with interest for any loss or depreciation in value of the property, any profit made through the breach, or any profit that would have accrued to the principal if the loss or profit is a result of the breach. Amends Section 4231 and adds Section 4231.5 to the CA Probate Code.
Property Tax	Prop. 13 (eff. June 8, 2010) New construction exclusion for seismic retrofitting	Proposition 13 prohibits tax assessors from re-evaluating new construction for property tax purposes when the point of the new construction is to seismically retrofit an existing building.Amends Section 2 of Article XIII A of the California Constitution.
Short Sales	SB 931 (eff. Jan. 1, 2011) Discharge of balance of loan indebtedness after a short sale for residential 1-4 real property by holder of a first deed of trust	This new law prohibits a lender holding a first deed of trust (purchase money or refinance) for a dwelling of 1-4 units to demand a deficiency judgment (unpaid balance due on the loan) from the trustor or mortgagor (owner) who sells the dwelling for less than the remaining amount of the indebtedness due at the time of the short sale to which the lender has consented in writing.However, if the owner commits either fraud with respect to the short sale, or waste with respect to the secured real property, then the lender may seek damages and use existing rights and remedies against the owner or any third party for fraud or waste.Note that this law doesn’t apply if the trustor or mortgagor is a corporation or political sudivision of the state. Adds Section 580e to the Code of Civil Procedure.
Subdivisions	SB 1019 (eff. Jan. 1, 2011) Extends release of performance security by subdivider law	The Subdivision Map Act authorizes or requires a subdivider to furnish specified types of security to ensure the performance of varous acts or agreements. The law (set to expire Jan. 1, 2011) sets forth specific procedures imposed on a local agency to provide a complete or partial release of a performance security.This law extends the repeal date of these provisions until Jan. 1, 2016.
Tax	AB 183 (eff. March 25, 2010) CA income tax credit for a first-time buyer or new home buyer	This state law established tax credits for either first-time homebuyers or buyers of new homes. They are limited to the lesser of 5 percent of the purchase price or $10,000 for a qualified principal residence. Taxpayers must apply the total tax credit in equal amounts over 3 successive tax years (maximum of $3,333 per year) beginning with the tax year in which the home is purchased. The tax credits cannot reduce regular tax below tentative minimum tax (TMT). The tax credits are nonrefundable, and unused credits cannot be carried over.These tax credits are available for taxpayers who purchase a qualified principal residence on or after May 1, 2010, and before January 1, 2011. Additionally, these tax credits are available for taxpayers who purchase a qualified principal residence on or after December 31, 2010, and before August 1, 2011, pursuant to an enforceable contract executed on or before December 31, 2010. The purchase date is defined as the date escrow closes. Taxpayers may apply for the tax credits if they have entered into a contract before May 1, 2010, as long as escrow closes on or after May 1, 2010. However, taxpayers may not request a New Home Credit reservation if they have entered into the contract before May 1, 2010.The total amount of allocated tax credit for all taxpayers may not exceed $100 million for the New Home Credit and $100 million for the First-Time Buyer Credit. Added Section 17059.1 to the CA Revenue and Taxation Code. [Note: The state already allocated all the available funds for first-time homebuyers but were still accepting additional new home credit applications as of Dec. 16, 2010. See the FTB Web page for more details at http://www.ftb.ca.gov/individuals/new_home_credit.shtml.) ]
Tax	H.R. 5297 (Small Business Jobs and Credit Act of 2010) (eff. Jan. 1, 2011) Landlords to report payments exceeding $600 on IRS form 1099	H.R. 5297, among other provisions, includes an expansion of the 1099 reporting related to a trade or business. Under existing law only those real estate professionals engaged in property management-type businesses have been required to file Forms 1099. This new federal law extends the Form 1099 requirement to any person who receives rental income. This requirement would apply to any landlord (including a small investor), rather than only those who are in the business of managing property.Starting Jan. 1, 2011, any person who receives rental income must provide a Form 1099 for all payments of $600 or more made to service providers such as plumbers, carpenters, yard services and repair people. The purchase of goods is not included within the reporting requirement. The Form 1099 is provided to the IRS and to the service provider. The new requirement applies to both residential and commercial property.
Tax	H.R. 5623 (eff. July 2, 2010) Homebuyer Assistance and Improvement Act of 2010	This federal law amended the Internal Revenue Code of 1986 to extend the federal homebuyer tax credit for the purchase of a principal residence from June 30, 2010 to Sep. 30, 2010 for any eligible homebuyer who entered into a written binding contract before May 1, 2010. [Note: This federal tax credit is no longer available. However, for details of the tax credit, see the Legal Q&As, Homebuyer Tax Credit Update (Federal Law) and Homebuyer Tax Credit Chart 2010.]

Copyright© 2011, CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.). Permission is granted to C.A.R. members only to reprint and use this material for non-commercial purposes provided credit is given to the C.A.R. Legal Department. Other reproduction or use is strictly prohibited without the express written permission of the C.A.R. Legal Department. All rights reserved. Written by Sonia M. Younglove, Esq.

Filed under: For Buyers, For Realty Professionals, For Sellers, General Information Tagged: Antioch, Brentwood, Calfiornia Real Estate law, Discovery Bay, New laws, Oakley, Real Estate, REAL Estate Disclosures, Real Estate Law, Realtors, whats up

Family Farm Tour in Brentwood

Cecily — Wed, 03 Aug 2011 23:22:45 +0000

LEARN MORE ABOUT THE FARMS: Bay Area Green Tours: go to: http://www.bayareagreentours.org/brentwood.html#top

Frog Hollow Farm: Farmer Al has been keeping Frog Hollow Farm organic for over 20 years! These practices plus farmer Al’s ideals of “quality not quantity” are a recipe for delicious tree-ripe fruit featured at the top restaurants, retail stores and farmer’s markets in the Bay Area. His wife will prepare a memorable meal sourced from the farm. There will be peaches, plums, apricots, pluots, nectarines, pastries and olive oil for purchase.

Smith Family Farm: Come visit a wonderful family farm that is making the transitional step to becoming organic. They have over 50 varieties of tomatoes as well as other fruits, vegetables, herbs, flowers, farm animals, a corn maze, sunflower forest and old fashioned general store! We’ll have time to shop at their expansive farm stand.

Dwelley Farms: Dwelley Farms has been family owned and operated since 1921, making this farm a fourth generation farm. They have a multitude beans, squash and berries, and specialize in the growing world famous Brentwood classic organic corn! YELP: They always have the local Brentwood corn which folks have to know is the best corn around. Just in case people don’t know…no one grows corn like the Brentwood Farmers grow corn. It’s the best!!! No lie.”

Beans, squash, berries, plums, apricots, pluots, nectarines, pastries, herbs, flowers & olive oil

This is a bus tour: Bring your shopping bags and money for the freshest purchases in the Bay Area. Famous Frog Hollow Peaches In the Shadow of Mount Diablo General Store at Smith Family Farm Delicious Lunch Sourced from the Farms and Prepared by Farmer Al’s wife Becky Lunch at Frog Hollow Delicious Corn salad, Empanadas, peaches and green salad OPTIONAL LUNCH $15.00 – or you are free to bring you own lunch Enjoy a home made light lunch by Farmer Al’s wife Becky. Her recipes are duplicated at their shop in the Ferry Building and sold at the farmer’s markets around the bay area! PICK UP San Francisco and Downtown Berkeley near BART TICKETS: Adults: $85 for an inspiring full day tour on a comfortable bio-diesel bus. Kids Price: $ 42.50 (0-16yrs) More information & Registration Shop at the farms and come home with a bounty of beautiful produce, olive oil and products directly from the source! Along with new found knowledge and friends. With boxes of fresh produce back from Brentwood Shop at the Farm Stand

Filed under: Discovery Bay, For Buyers, For Realty Professionals, For Sellers, General Information, Pens and Pals, Uncategorized Tagged: Bay Area Green Tour, Brentoood, Brentwood Family Farms, Dwelley Farms, Everything Brentwood, Farm Fresh, Farm Tour, Frog Hollow Farm, Smith Family Farm

Foreclosures May Be Stalling

Cecily — Tue, 26 Jul 2011 01:32:18 +0000

According to the June edition of Foreclosure Radar: California saw slowed foreclosure activity across the board. Notice of Default filings fell for the third consecutive month after a slight 1.5 percent drop in June. Notice of Trustee Sale filings were down in June as well, with an 11.7 percent decline month-over-month and a 34.3 percent drop from June 2010. Cancellations of foreclosure sales decreased for the second time in as many months, with a 3.0 percent drop compared to May. Foreclosure sales on the courthouse steps were slower than the prior month, with 13.4 percent fewer sales Back to Bank and 7.1 percent fewer foreclosed properties Sold to 3rd Parties. For the first time in six months the average time to foreclose decreased, down 7.9 percent to 317 days month-over-month but remained up 21.5 percent as compared to this time last year. Third parties continued to resell inventory more quickly, with the time to resell down 1.5 percent month-over-month to 131 days, clearly outperforming banks, which took an average of one hundred days longer at 231 days to resell inventory (REO).

Foreclosure Outcomes – CA
	6/1/2010	7/1/2010	8/1/2010	9/1/2010	10/1/2010	11/1/2010	12/1/2010	1/1/2011	2/1/2011	3/1/2011	4/1/2011	5/1/2011	6/1/2011
Cancellations	21989	18957	16845	15278	12922	11852	10921	12285	11200	14564	18490	14011	13607
Back to Bank (REO)	10522	11948	14397	15144	10627	9344	9289	14072	10634	13707	11348	11751	10249
Sold to 3rd Party	2985	3486	3478	2938	2159	2333	2142	3275	2611	4217	3555	3704	3459
Provided by ForeclosureRadar.com and subject to its User Agreement.

Filed under: For Buyers, For Realty Professionals, For Sellers, General Information Tagged: Bank owned, Contra Costa County, Foreclosure Radar, Foreclosures, Foreclosures Ca, REO, REO Investors, REO Real Estate

Delta Harvest Run

Cecily — Fri, 22 Jul 2011 16:44:59 +0000

Hey, Brentwood is on the map with it’s first of what could be a wonderful annual event that will continue to enhance our beautiful city and its’ amenities. The Delta Harvest Run is a 10K quickie starting at or near the Streets of Brentwood and going full out for family fun as well as raising money for local food banks. This is sponsored by the Delta Association of Realtors Community Service Foundation. Sign-up at Active.com or DeltaHarvestRun.com. Low $50 entry fee. Director is Wendy Shearer, 925-595-0292, Sponsorship Stephanie Schwartz 925-270-7308, Volunteers Jamie Gonzalez 925-584-0530 for more information on any of these topics. See their Facebook page at.

I attended a presentation of the participating food banks: what I heard:

Meals on Wheels-Senior Outreach Services-deliver over 700 meals a week, provide social contact for their clients, and a daily check-in service to ensure that their clients have not fallen or hurt themselves with an adult children outreach program. A client says that they are “like a spring day in the middle of winter.” Dog biscuits optional.

Don Brown Shelter-deliver services for more than 200 single mentally ill persons; counseling, housing, apparel, laundry services and food. Located in Antioch at O and 4th Street, they always need socks and spoons.

St. Anthony’s Catholic Church-services Knightsen and Bethel Island, a food pantry for 24 years serves 4000-5000 people a year, 1000 at Christmas, 10 families daily. Raley’s has been a great help to them offering food at cost.

Brentwood Regional Community Chest-30 years working with volunteers in the community to serve 550 family with rent, school clothes, doctors services and primarily Christmas Baskets complete with a turkey dinner.

Delta Christian Community Food Pantry-three churches in Byron/Discovery Bay: Presbyterian, Methodist, and Catholic , now called Methocathetarians, have gotten together to help 70-80 families a month with food bags and spritual guidance. Volunteers are always needed.

Worthy causes all, sponsorships and donations also available. So check it out and get moving!!

Filed under: General Information Tagged: 10K Run, Brentwood, Brentwood Regional Communtiy Chest, Delta Assocaition of Realtors, Delta Association of Realtors Communtiy Service Foundation, Delta Christian Community Food Pantry, Delta Harvest Run, Don Brown Shelter, Fun Run, meals on Wheels, Senior Outreach Services, St. Anthony's Catholic Church, Streets of Brentwood

Your Realtor-Your Advocate

Cecily — Thu, 23 Jun 2011 23:29:32 +0000

The National Association of Realtors is Your Advocate for Home Ownership

We need to take a step back and ask ourselves how best each of us can contribute to our industry and how the Real Estate Industry can help each of us. As usual, we are in a crisis of one form or another, whether it is low or high inventory, short sales or bank owned, new legislation, etc. The one thing we can be sure of is that we are always moving, always changing. So, the National Association of Realtors has decided to take a more definitive stand for the homeowner. Previously, NAR represented Realtors first as their trade organization. While that focus is still in play, NAR, is as far as I know, is the only trade organization that promotes the welfare of the Homeowner and mortgage interest deduction. (We will get into tax reform and mortgage interest deduction at a later date or not at all!)

For those of you who don’t know, the designation, capitalized Realtor ®, means that the person is licensed by a respective State and belongs to an Association of Realtors. In our area that is the Delta Association of Realtors or DAR. As such, we become members of and pay dues to the California Association of Realtors and the National Association of Realtors, known as CAR and NAR. NAR just raised dues $40 to become more of an advocate regarding home ownership. The 2011 Campaign is titled “Housing First” which explains the impact of home ownership on the nation’s economy (per NAR):

For every two homes sold, one job is created.
Each home purchased pumps up to $60,000 into the economy.
Home ownership accounts for over $2 trillion of the U.S. GDP.

So, it is important for all of us that homes are bought and sold. Sellers need to move for job changes, health changes, family size as well as to avoid foreclosure, reduce housing costs and for other more normal reasons. Realtors earn their living by helping this process take place. The problem is always local and our market is flat despite low inventory and low interest rates. I have heard that buyers are not buying because of uncertainty in their own job situation, still waiting for lower prices and also because the lending rules are changing every day, becoming more strict in reaction to the fall-out we have had in the past. Then there is the GSE, Government Sponsored Entity, challenge. What to do with Fannie, Freddie and subsequently FHA which comprise the current secondary mortgage market? There is much local and national dialogue regarding whether GSE are needed or not. Some say, yes and some say no. The private sector may or may not be able to provide enough funds to meet demand for home loans. I am not so sure as over 30% of the loans nationally are FHA. So I say, we need them or something like them. NAR says, “A comprehensive and effective mortgage reform strategy is critical to help keep a level of certainty in the marketplace and not further disrupting the still fragile housing market recovery.”

NAR is asking us to take a look at H.R. 1859, the “Housing Finance Reform Act of 2011, introduced last month by Reps. John Campbell (R-Calif.) and Gary Peters (D-Mich.). Although there are some concerns, overall, according to NAR, see www.realtor.org, “the bill will help stabilize the secondary mortgage market and ensure capital is available for home mortgage loans.” I just checked, and Google did not have much information about the bill, so stay tuned. The point is your local Realtor is involved via their local, state and national trade organization to help you facilitate the sale of a home to a ready, willing and able buyer.

Filed under: For Buyers, For Realty Professionals, For Sellers, General Information Tagged: CAR, DAR, GSE, H.R. 1859, Home Ownership, listings brentwood 94513, NAR, National Assocation of Realtors, Realtors

Carbon Monoxide Detectors

Cecily — Tue, 24 May 2011 18:03:14 +0000

There is a new law, effective July 1, 2011.

The Carbon Monoxide Poisoning Prevention Act of 2010 (Cal. Health & Safety Code §§ 13260 et seq.) was signed into law this year. It requires carbon monoxide detectors to be installed in every “dwelling unit intended for human occupancy.” The California legislature also modified both the TDS (for residential one-to-four unit real property) and MHTDS (for manufactured homes and mobilehomes) to include a reference to carbon monoxide detector devices.

This is not a point of sale ordinance. It is a new law requiring carbon monoxide dectectors in every dwelling. The carbon monoxide detector can be combined with a smoke detector and placed outside of sleeping areas. One is minimum, two if a two story home. Follow the directions on the box, buy one that is reasonably priced, and you will be OK. See Californian Association of Realtors Q&A below:

Carbon Monoxide Detectors

Q 1. What is carbon monoxide?

A Carbon monoxide is a gas produced whenever any fuel, such as gas, oil, kerosene, wood, or charcoal, is burned. A person cannot see or smell carbon monoxide. However, at high levels carbon monoxide can kill a person in minutes.

In addition, there are well-documented chronic health effects of acute carbon monoxide poisoning from exposure to carbon monoxide, such as lethargy, headaches, concentration problems, amnesia, psychosis, Parkinson’s disease, memory impairment, and personality alterations. (Cal. Health & Safety Code § 13261.)

Q 2. Is there a new California law dealing with the issue of carbon monoxide poisoning?

A Yes. The Carbon Monoxide Poisoning Prevention Act of 2010 (Cal. Health & Safety Code §§ 13260 et seq.) was signed into law this year. It requires carbon monoxide detectors to be installed in every “dwelling unit intended for human occupancy.” The California legislature also modified both the TDS (for residential one-to-four unit real property) and MHTDS (for manufactured homes and mobilehomes) to include a reference to carbon monoxide detector devices. See below for more details.

Q 3. What is a carbon monoxide detector?

A It is a relatively inexpensive device similar to a smoke detector that signals detection of carbon monoxide in the air. Under the law, a carbon monoxide device is “designed to detect carbon monoxide and produce a distinct audible alarm.” It can be battery powered, a plug-in device with battery backup, or a device installed as recommended by Standard 720 of the National Fire Protection Association that is either wired into the alternating current power line of the dwelling unit with a secondary battery backup or connected to a system via a panel.

If the carbon monoxide device is combined with a smoke detector, it must emit an alarm or voice warning in a manner that clearly differentiates between a carbon monoxide alarm warning and a smoke detector warning.
The carbon monoxide device must have been tested and certified pursuant to the requirements of the American National standards Institute (ANSI) and Underwriters Laboratories Inc. (UL) as set forth in either ANSI/UL 2034 or ANSI/UL 2075, or successor standards, by a nationally recognized testing laboratory listed in the directory of approved testing laboratories established by the Building Materials Listing Program of the Fire Engineering Division of the Office of the State Fire Marshal of the Department of Forestry and Fire Protection. (Cal. Health & Safety Code § 13262.)

Q 4. How does a homeowner comply with this law?

A Every owner of a “dwelling unit intended for human occupancy” must install an approved carbon monoxide device in each existing dwelling unit having a fossil fuel burning heater or appliance, fireplace, or an attached garage.

The applicable time periods are as follows:

(1) For all existing single-family dwelling units on or before July 1, 2011.

(2) For all other existing dwelling units on or before Jan. 1, 2013.

(Cal. Health & Safety Code § 17926(a).)

Q 5. How many devices and where do I place them in the home?

A This new law requires the owner “to install the devices in a manner consistent with building standards applicable to new construction for the relevant type of occupancy or with the manufacturer’s instructions, if it is technically feasible to do so” (Cal. Health & Safety Code § 17926(b)).

The following language comes packaged with carbon monoxide (CO) detectors:

For minimum security, a CO Alarm should be centrally located outside of each separate sleeping area in the immediate vicinity of the bedrooms. The Alarm should be located at least 6 inches (152mm) from all exterior walls and at least 3 feet (0.9 meters) from supply or return vents.

Building standards applicable to new construction are as follows (overview summary only):

• Section R315 et seq. of the 2010 edition California Residential Code (CRC) [effective Jan. 1, 2011] (applicable to new one-to-two family dwellings and townhouses not more than 3 stories and also where work requiring a permit for alterations, repairs or additions exceeding one thousand dollars in existing dwellings units):

Installed outside of each separate sleeping area in the immediate vicinity of the bedroom(s) in dwelling units and on every level including basements within which fuel-fired appliances are installed and in dwelling units that have attached garages.

• Section 420 et seq of the 2010 edition California Building Code (CBC) [effective Jan. 1, 2011] (applicable to other new dwelling units and also where a permit is required for alterations, repairs or additions exceeding $1,000 in existing dwelling units):

Installed outside of each separate sleeping area in the immediate vicinity of the bedroom(s) in dwelling units and on every level including basements within which fuel-fired appliances are installed and in dwelling units that have attached garages.

Q 6. Are there any penalties for noncompliance with this law regarding installation of carbon monoxide detector devices?

A Yes. A violation is an infraction punishable by a maximum fine of $200 for each offense. However, a property owner must receive a 30-day notice to correct first. If an owner who receives such a notice fails to correct the problem within the 30-day period, then the owner may be assessed the fine. (Cal. Health & Safety Code § 17926(c).)

Q 7. Can a buyer of a “dwelling unit intended for human occupancy” rescind the sale if the dwelling doesn’t have the necessary carbon monoxide detectors?

A No. However, the buyer may be entitled to an award of actual damages not to exceed $100 plus court costs and attorney’s fees. (Cal. Health & Safety Code § 17926(d).)

Note the following language in the TDS and MHTDS:

Installation of a listed appliance, device, or amenity is not a precondition of sale or transfer of the dwelling. The carbon monoxide device, garage door opener, or child-resistant pool barrier may not be in compliance with the safety standards relating to, respectively, carbon monoxide device standards of Chapter 8 (commencing with Section 13260) of Part 2 of Division 12 of, automatic reversing device standards of Chapter 12.5 (commencing with Section 19890) of Part 3 of Division 13 of, or the pool safety standards of Article 2.5 (commencing with Section 115920) of Chapter 5 of Part 10 of Division 104 of, the Health and Safety Code. Window security bars may not have quick-release mechanisms in compliance with the 1995 edition of the California Building Standards Code.

Q 8. Does a seller have any special carbon monoxide disclosure obligations?

A No. The only disclosure obligations are satisfied when providing a buyer with the TDS or the MHTDS. If the seller is exempt from giving a TDS, the law doesn’t require any specific disclosures regarding carbon monoxide detector devices. (See Cal. Civ. Code §§ 1102.6, 1102.6d.)

The Homeowners’ Guide to Environmental Hazards also will include information regarding carbon monoxide.

Q 9. May local municipalities require more stringent standards for carbon monoxide detectors?

A Yes (Cal. Health & Safety Code § 17926(e)).

Q 10. Do landlords have any special obligations regarding carbon monoxide detectors?

A Yes. All landlords of dwelling units must install carbon monoxide detectors as indicated in Question 4. The law gives a landlord authority to enter the dwelling unit for the purpose of installing, repairing, testing, and maintaining carbon monoxide devices “pursuant to the authority and requirements of Section 1954 of the Civil Code [entry by landlord].”

The carbon monoxide device must be operable at the time that a tenant takes possession. However, the tenant has the responsibility of notifying the owner or owner’s agent if the tenant becomes aware of an inoperable or deficient carbon monoxide device. The landlord is not in violation of the law for a deficient or inoperable carbon monoxide device if he or she has not received notice of the problem from the tenant.

(Cal. Health & Safety Code § 17926.1.)

Q 11. If the California Building Standards Commission adopts or updates building standards relating to carbon monoxide devices in the future, is the owner required to install the newer device?

A It depends. Yes, when the owner makes an application for a permit for alterations, repairs, or additions to that dwelling unit with the cost exceeding $1,000. (Cal. Health & Safety Code § 17926.2(b).)

Q 12. Where can I obtain additional information?

A This legal article is just one of the many legal publications and services offered by C.A.R. to its members. For a complete listing of C.A.R.’s legal products and services, please visit car.org.

Readers who require specific advice should consult an attorney. C.A.R. members requiring legal assistance may contact C.A.R.’s Member Legal Hotline at (213) 739-8282, Monday through Friday, 9 a.m. to 6 p.m, and Saturday, 10 a.m. to 2 p.m. C.A.R. members who are broker-owners, office managers or Designated REALTORS may contact the Member Legal Hotline at (213) 739-8350 to receive expedited service. Members may also fax or e-mail inquiries to the Member Legal Hotline at (213) 480-7724 or legal_hotline@car.org. Written correspondence should be addressed to:

California Association of REALTORS®
Member Legal Services

The information contained herein is believed accurate as of Dec. 1, 2010. It is intended to provide general answers to general questions and is not intended as a substitute for individual legal advice. Advice in specific situations may differ depending upon a wide variety of factors. Therefore, readers with specific legal questions should seek the advice of an attorney. Written by Sonia M. Younglove, Esq.

Copyright© 2010 CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.). Permission is granted to C.A.R. members only to reprint and use this material for non-commercial purposes provided credit is given to the C.A.R.Legal Department. Other reproduction or use is strictly prohibited without the express written permission of the C.A.R. Legal Department. All rights reserved.

Filed under: For Buyers, For Sellers, General Information Tagged: 2011, antioch ca real estate market trends, brentwood ca real estate, Brentwood Real Estate, Cal. Health & Safety Code § 13261, Carbon Monoxide Detectors, Disclosure, first time home buyers, home improvement, home repair, homebuyers brentwood, July 1, Smoke and Carbon Monoxide Detectors, Smoke Dectectors

FDIC Land Auction

Cecily — Tue, 26 Apr 2011 21:48:28 +0000

Prescient is pleased to announce the FDIC Land Sale Event. The sale is composed of over 38 land parcels offered for individual sale located throughout California, Colorado, Nevada, Utah, Washington, Arizona, Texas, Illinois, Indiana, Michigan, Ohio, Alabama, Florida, and Georgia. Please register at www.prescientore.com to gain access to property information on this sale and other special events. All bids are due to Prescient by May 19, 2011.

If you have any questions, please feel free to contact us at 1-877-878-2289. We look forward to hearing from you.

Best Regards,

Valerie Wheelock
Mass Marketing Manager
877.878.2289
www.prescientore.com
registrations@4prescient.net

Filed under: For Buyers, For Realty Professionals, General Information Tagged: Auction, FDIC, Land Auction, Land Sale, Prescient, Real Estate, Real Estate Auctions

Book Club April, 2011-The Postmistrees

Cecily — Fri, 22 Apr 2011 19:00:28 +0000

Queens and Pages Book Club met last night to discuss “The Postmistress” by Sarah Blake. I can’t say that everyone loved the book. We found it interesting and enjoyed meeting the characters but we wanted more. As book clubs do, we went back and forth just commenting and adding to what others had said. In the end, we could not really come up with what the book was about, what was it trying to tell us? During our two hours, we discussed Will’s premise that life was connected versus being random. Now, I think it is not, because randomness is also a pattern. We did not get into why both Harry and Will had to die. We discussed the war and the end of innocence. Frankie bringing the voices back to remind herself of “the truth.” We wanted to hear Otto’s wife’s voice on the record and when we didn’t, we hoped that she got back to him. Otto, the random German Jew in the midst of the American way of life did not have a place, still out of place where he was. The three main characters: Emma had a profound wisdom but child-like view of the world. Frankie the world weary traveler, monied, wanting to get our attention, and Iris, a very strange, pragmatic woman who valued order above all. So why did she do what she did? All of us wanted to know more about the connections between these women and then what happended next. The ending did not come back to the beginning where Frankie started telling the story, it just ended. Check out the more formal reviews from Amazon on the Pens and Pals Page.

Filed under: General Information, Pens and Pals Tagged: Book Club, Bookies, Contra Costa Reading, D. Merriman Crawford, Lydia "The Lost Entwife", Queens and Pages, Read, Readers, Sarah Blake, The Postmistress

Keep it Green-Energy Audit Disclosure

Cecily — Wed, 20 Apr 2011 13:00:21 +0000

As it is Earth Month it behooves each of us to think about how we can help our poor ailing planet in small and large ways. I thought it appropriate to get more information about … whatever, meaning, I know very little about conserving energy or what can be done to even get started. So, I attended a WCR, that’s Women’s Council of Realtors-East Bay Chapter, business resource meeting last week, held, appropriately at the center of the green universe, in Berkeley, the Berkeley Association of Realtors, to be exact. You can contact Arlene Baxter at eastbay.bungalows@gmail.com if you want more information.

There we learned more about the HERS, Home Energy Rating System. One startling statistic is that most of us lose 30% of our energy from faulty heating ducts. As someone said, “the energy we don’t use is the energy we use best.” So conservation is the name of the game. The upshot is, if you are concerned about energy, and we all “should” be concerned, then get an energy rating on your home. They cost approximately $300-$500 and a couple of hours of your time. The good news is that PG&E and Alameda County (and Los Angeles County-but why would they be interested? an yes, the heat!) are giving rebates for improvements. The energy audit will tell you what you need to do to improve you’re the envelope you live in. They review everything from roofs, windows and doors to air flow to insulation and mechanical equipment. Also, I am a Realtor and I did not know this, there is a HERS disclosure available; we will be putting that in our listing disclosure package right away.

See www.calcerts.com for HERS raters, www.builditgreen.org/en/directories/search.asp for a directory of BPI, Building Performance Institute also at www.bpi.org, for information on how to have your home green point rated, and finally, www.energyupgradeca.org regarding contractors and rebates. OK, REBATES and/or stimulus funds to you, mean money in your pocket but those are not available unless you spend money to improve your home’s energy health. More next time . . . . .

Photo from BPI.org website

Filed under: General Information Tagged: BPI, Builditgreen, Disclosures, Energy Audit, energy-efficient home, Green Building, HERS, Home Energy Rating System, Keep it Green, PG&E, REAL Estate Disclosures, Rebates