Fremont Real Estate and Beyond

The City of Hayward released a draft of a Residential Rent Stabilization and Tenant Protection Ordinance. The 45-page document presents new rules regarding:  -A landlord's "fair rate" of return on investment -Limits on rent increases including increases on vacant units -Landlord-tenant dispute resolution -Security deposits -Eviction and harassment -Discrimination based on source of income -Information landlords must provide to tenants and to the City of Hayward including terminations and rent increases. The Hayward City Council is scheduled to take action on this ordinance during its June 18 meeting. You can review the entire draft Ordinance here .

BayEast posted their East Bay housing statistics for the month of March. 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"

“Like-kind” means I must exchange the same type of property, such as an apartment building, for another apartment building.   FALSE A 1031 Exchange means that the sale and the purchase have to happen at the same time. In other words, the seller has to find someone willing to swap properties. FALSE My attorney or CPA can handle the exchange for me as my Qualified Intermediary. FALSE To do a 1031 Exchange I just need to file a form with the IRS with my tax return and “roll over” the proceeds into a new investment.  FALSE I can only defer my capital gains tax via a 1031 Exchange.  FALSE All of the funds from the sale of the relinquished property must be reinvested.   NOT NECESSARILY You must replace the debt that you had on the relinquished property with at least the same amount of debt on the replacement property.  FALSE Opportunity Zone Funds are another alternative to defer my taxes.  POSSIBLY When I sell my personal residence I need to set it up...

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"

During their Feb. 19 marathon meeting lasting well past midnight, the Hayward City Council directed staff to work on the following new rental housing policies: Increasing rent, and all other charges, more than 5% would trigger a mandatory meditation process with the potential of a binding arbitration between the landlord and tenant.  This requirement would apply to all rental units except single-family homes.  It is not yet clear whether condominiums would be exempt. The current vacancy decontrol process could be eliminated altogether or possibly suspended for three to five years for the remaining 1,000 to 1,600 units in Hayward currently subject to the Residential Rent Stabilization Ordinance. Eviction for Cause would be expanded to cover all rental units including single-family homes and condominiums. Require all landlords to notify the City of Hayward when in...

The Hayward City Council is considering new rental housing policies some of which will cover single family homes and condominiums. Hayward staff will present the suite of new and expanded regulations to the City Council during a work session on Tuesday, February 12.  They include: Binding landlord-tenant mediation in disputes related to rent increases exceeding five percent.  Single family homes, condominiums and rental units constructed after 1979 and would be exempt. Eliminating the vacancy decontrol provision from the existing Residential Rent Stabilization Ordinance. (RRSO) Expanding eviction for cause to all rental units including single family homes and condominiums. Adding a relocation assistance provision to the RRSO that would require a landlord to pay a tenant an amount equal to three times the Fair Market Rent as defi...

2017-2018 Rent Ordinances Annual Report The City Council will be reviewing the 2017-2018 Annual Report on the Rent Review and Eviction Protection Ordinances at their February 12, 2019 meeting. No regulatory action is being taken at this meeting.  Meeting Information City Council Meeting Tuesday, February 12, 2019 7:00 PM City Council Chambers 34009 Alvarado-Niles Road Union City, CA Agenda/Staff Report The meeting agenda and staff report can be accessed HERE and will be available online on Friday, February 8, 2019. Additional Information For additional information regarding the Rent Review and Eviction Protection Ordinances, please visit www.unioncity.org/rent-requirements Contact Information Program Administrator ECHO Housing Phone: 1-855-ASK-ECHO / 1-855-275-3246 Email: UnionCityRentReview@EchoFairHousing.org Website: www.echofairhousing.org City of Union City Housing & Community Development Division Phone: (510) 675-5392 Email: Ho...

BayEast posted their East Bay housing statistics for the month of December. 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"

Happy New Year! My amazing Escrow Officer, Jennifer Thayer, put together this graph to summarize who pays for what in 2019 as there have been a ton of changes that went into effect.  Feel free to DM me if you have any questions!

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"

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 . • Refina...

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/