Fremont Real Estate and Beyond

FEMA announced late Friday that it will once again renew flood insurance policies, which were halted during the partial federal government shutdown.  This has affected ~40,000 home sale transactions nationwide.  More info here-- https://rismedia.com/2018/12/31/nar-helps-secure-fema-reversal-shutdown/

BayEast posted their East Bay housing statistics for the month of November.  You can find it here: https://bayeast.org/community-info/community-info/ Click on the city you want and then "Housing Market Information" followed by "Current Attached" or "Current Detached"

Marketplace's, "Make Me Smart" podcast did a great report on the affordability crisis of housing in the US. 

Per the Freddie Mac news release.  This opens the door for obtaining loans with realistic interest rates to those who may not be able to afford a traditional home.  The next step is getting through the prohibitive park approvals... Freddie Mac (OTCQB: FMCC) today announced CHOICEHomeSM conventional financing for manufactured housing to help increase the availability of the quality affordable homes that borrowers want, while providing lenders with the innovative financing options they need. Today’s manufactured homes can deliver outstanding quality at prices that are up to 50 percent less per square foot than conventional site-built homes. These savings can enable more Americans to own their own home, even in the face of an ever-widening housing affordability gap. “Finding a home is more difficult than ever because of the ongoing housing supply shortage in many parts of the country, especially when looking for a home at a lower price point,” said Mike Dawson, vice president of Single

I got this email from a lender.  If you're interested, please email or leave a response to this blog and I'll connect you.   -- For the third year in a row, the Federal Housing Finance Authority (FHFA) has increased the amount of money that can be borrowed through a standard home loan. Not planning to buy soon? Please keep reading to see why this news can still be important to you. The details:  • The  standard loan limit (also known as conforming loan limit) rose by 6.9%  to a maximum amount of $484,350. In certain high cost areas, it’s even more.  • The percentage increase is equal to the national appreciation average over the last year. • Loan limits were kept high for 10 years, even as values declined. Now that the market has surpassed prior peaks, loan limits are on the rise again. This means you may be able to: • Purchase a higher priced home with  more financing options, possibly including lower rates . • Refinance an existing, higher-rate “jumbo” loan and

Costar, the commercial real estate data behemoth that owns Loopnet and Apartments.com recently purchased Cozy.co, the landlord management system.  It will be interesting to see how they connect their current holdings with Cozy to make the purchase and management of properties more streamlined. More info here-- https://cozy.co/blog/great-news-cozy-joins-costar/

BayEast posted their East Bay housing statistics for the month of October.  You can find it here: https://bayeast.org/community-info/community-info/ Click on the city you want and then "Housing Market Information" followed by "Current Attached" or "Current Detached"

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You may have been getting a lot of mail about this referendum, here's a 1 minute explainer:

BayEast posted their East Bay housing statistics for the month of September.  You can find it here: https://bayeast.org/community-info/community-info/ Click on the city you want and then "Housing Market Information" followed by "Current Attached" or "Current Detached"

The Castro Valley Sanitary District (CVSan) has released preliminary information about its new Private Sewer Lateral (PSL) program. As of July 1, 2019 , the PSL requires a home owner to inspect, repair or replace their sewer laterals when selling their home. Information about the PSL requirements and process is available here-- http://www.cvsan.org/PSL

It's been a while since I've posted on my blog.  A combination of summer vacation, work, and family have prevented me from doing my weekly posts.   I'm back and will begin again...thanks for checking in!

On Tuesday, July 10, the Hayward City Council took steps to increase the real estate transfer tax rate. The Council is proposing increasing the tax rate to $8.50 per $1,000 of sale or transfer price. The current rate is $4.50 in addition to the $1.10 Alameda County transfer tax.   Hayward officials claim increasing the tax rate will generate millions in additional revenue which will pay for city services, employee salaries and retirement benefits.  Hayward voters will have the final say about the rate increase. It is anticipated the Hayward City Council will vote TOMORROW (Tuesday, July 17) to place the transfer tax rate increase on the November 6 ballot.

BayEast posted their East Bay housing statistics for the month of June.  You can find it here-- https://bayeast.org/community-info/community-info/ Click on the city you want and then "Housing Market Information" followed by "Current Attached" or "Current Detached"

As a Realtor, it's difficult to watch this.  I have a fiduciary duty to my clients to help them buy and sell homes, not give legal advice on how to interpret a loophole in a law.

BayEast posted their East Bay housing statistics for the month of May.  You can find it here-- https://bayeast.org/community-info/community-info/ Click on the city you want and then "Housing Market Information" followed by "Current Attached" or "Current Detached"

City leaders in Hayward and Union City are considering increasing their real estate transfer taxes. On Tuesday, June 5, the Hayward City Council directed staff to survey Hayward residents about increasing the transfer tax rate from $4.50 to $10 per $1,000 of assessed value. Hayward officials claim increasing the rate would generate more than $8.7 million in tax revenue. Depending on the survey results, the Council may place the transfer tax increase on the November ballot. More information about the transfer tax increase and an on-line survey is available here . Union City is also planning to increase its transfer tax rate from $0.55 to $10 per $1,000 of assessed value. They claim the increase would generate, on average, $5 million in tax revenue. However, to increase the tax rate it would first need to convert from a general law to a charter city. Changing the City charter requires a majority vote of Union City residents. The Union City Council is holding a public hearing about

BayEast posted their East Bay housing statistics for the month of April.  You can find it here-- https://bayeast.org/community-info/community-info/ Click on the city you want and then "Housing Market Information" followed by "Current Attached" or "Current Detached"

BayEast posted their East Bay housing statistics for the month of February.  You can find it here-- https://bayeast.org/community-info/community-info/ Click on the city you want and then "Housing Market Information" followed by "Current Attached" or "Current Detached"

On April 5, 2018, the jury in a second trial ruled in favor of the listing salesperson and Coldwell Banker on all claims in a square footage case. This is the second jury to exonerate the listing salesperson and broker in the same matter. Billionaire Horiike bought a large Malibu house for $12.25 million in 2007. Although he admitted not reading any of the documents containing varying square footage such as permits, disclosures, public records, architectural drawings, he claimed the “approximate square footage” of 15,000 square feet on a flyer was a misrepresentation and a breach of the listing salesperson’s fiduciary duty. The first jury held in favor of the broker and the listing salesperson on intentional and negligent misrepresentation claims. The judge had dismissed the breach of fiduciary duty claim against the broker that was based solely on the listing salesperson’s actions as the buyer’s salesperson, also licensed with Coldwell Banker, was not named. In 2016, the Ca

The Castro Valley Sanitary District (CVSan) is holding a town hall on April 26 about their proposal to require property owners to inspect, repair or replace their sewer lateral when selling their home.  The event will begin at 6:00 p.m. and CVSan is considering holding the town hall at the Castro Valley Library. CVSan has added information about the proposed program to their website.  You can leave comments and questions about the program, too.   If you are a Castro Valley resident, own or manage property in Castro Valley or represent clients either living in or wanting to purchase a home in Castro Valley, please visit the website by clicking here .  Question or comments about the proposal can be emailed to CVSan by clicking here .

The Hayward City Council is considering tenant protections including mandatory landlord-tenant mediation. But tenant advocates may want more. The Council is holding a work session on Tuesday, Mar. 27 at 7:00 p.m. at Hayward City Hall to review tenant protection options.  Those options include the mediation program and an immediate moratorium on rent increases.   If you are a Hayward resident, own or manage property in Hayward, or represent clients in Hayward, please attend this meeting.

A message forwarded by the Rental Housing Association serving Southern Alameda County The Rental Housing Association is hosting a panel on  Subsidized Housing . Panelists will include representatives from Abode Services, Building Futures for Women & Children, Eden I&R, Housing Authority of Alameda Co., and Veteran's Affairs.  Come prepared with your questions.  Is rent payment  REALLY  guaranteed? What are  YOUR  rights as a landlord? What are the benefits to  YOU  ? What are some the safeguards in place to protect you and  YOUR PROPERTY ? Date:  Thursday, March 29 Time:  12:00 - 1:30pm Location: Castro Valley Moose Lodge 20835 Rutledge Rd . in Castro Valley This event is free and open to the public. RSVP to  caryl@rhosource.com  or by phone at  510.537.0340 .

View this in your browser Basic Housing Rights Workshop: What seniors need to know Legal Assistance for Seniors (LAS) and the Health Insurance Counseling and Advocacy Program (HICAP) serving Alameda County will be a hosting a free Basic Housing Rights Workshop. The workshop will cover: Tenant/Landlord Rights and Responsibilities Overview of the eviction process Security deposits Where to get information and resources for assistance New Union City specific policies WHERE Ruggieri Senior Center 33997 Alvarado-Niles Road

Listed for $1,150,000.00 Open house this weekend, Sat/Sun 1-4pm.  Come on by! View this tour in a new window.

BayEast posted their East Bay housing statistics for the month of February.  You can find it here-- https://bayeast.org/community-info/community-info/ Click on the city you want and then "Housing Market Information" followed by "Current Attached" or "Current Detached"

I received this from the Fremont Police and wanted to share with everyone. https://local.nixle.com/alert/6404263/?sub_id=406327 In April, 2017, Fremont Police received information from a Fremont landlord involving an ongoing fraudulent home rental scheme conducted by two brothers dating back to 2015. At least five (5) property owners fell victim to these serial renters, suffered a significant financial loss and damage to their homes as a result. The investigation revealed Mohammed QADIR (30) and his brother, Habibullah QADIR (42), engaged in intentional fraudulent and deceptive practices to obtain at least five residential property leases in Fremont. Once the properties were rented to them, they failed to pay rent and forced the landlords to evict them while they remained in the properties rent-free, for months at a time. In summary, Mohammed QADIR, acting alone or collaborating with Habibullah QADIR, sought to obtain leases for single-family houses in high-end neighborhoods in Fre

BayEast posted their housing statistics for the month of January.  You can find it here-- https://bayeast.org/community-info/community-info/ Click on the city you want and then "Housing Market Information" followed by "Current Attached" or "Current Detached"

This information was from my 1031 Exchange Specialist.  If you have any questions, don't hesitate to contact me! The Tax Cut and Jobs Act was signed into law on December 22, 2017, and took effect on January 1, 2018. It is a complex modification to the Internal Revenue Code that will take businesses and individuals some time to fully understand, notwithstanding that it became effective just nine days after the President’s signature. The new law retains Section 1031 for real estate exchanges. However, Section 1031 may no longer be utilized to defer taxes for transactions involving  personal property . Real estate exchanges  are subject to the same rules and regulations as under previous law. The 45 day identification and 180 day exchange periods remain unchanged, as does the role of the Qualified Intermediary. All real estate in the United States, improved or unimproved, also remains like-kind to all other domestic real estate. Foreign real estate continues to be not l

For any agents out there--it could someone from any country, so be on the lookout! A person claiming to live in China will contact an agent and ask to purchase property in the area. The person will entice the agent with a request to write an offer and get the transaction open. They claim they will be in the U.S. for the closing. They also will ask to recommend an attorney to assist with the review of documents and assist with the transaction. After they get a referral from the agent they will contact the attorney and state they were referred by the agent. They will ask for help on the transaction. The attorney will probably ask for a retainer agreement and amount to be placed in trust with the attorney. After some prodding, the person from China will have a check delivered to the attorneys’ office drawn on a British Columbia Bank and allegedly paid through Wells Fargo in the U.S.—a process used in the past and not used so much today because of wire transfers. The check will be for f

It's always best to get your ducks in order before buying a house so you have a smooth transaction.  Let me know how I can help you!