Monday, November 11, 2019 / by Nicole Solari
After several years of record-breaking California wildfires, insurance companies have responded by imposing huge premium increases on property owners, or even worse, flat-out denying coverage and canceling policies. Here are some tips to help property owners maintain their current insurance plan or, if necessary, find a new one.
KNOW YOUR RIGHTS! If your insurance company is not going to renew the policy on your home, they must notify you in writing at least 45 days before the expiration date. If you didn’t receive the proper notice, contact the California Department of Insurance (DOI) at 1-800-927-HELP or online at www.insurance.ca.gov. Check to see if your policy has a guaranteed renewal provision. You may also be entitled to a renewal under laws applicable to homes that are lost in a declared disaster.
CONTACT YOUR INSURANCE COMPANY IMMEDIATELY. If you receive notice of a rate increase or non-renewal, get in touch A ...
Monday, November 4, 2019 / by Nicole Solari
Many sellers believe spring is the best time to put their homes on the market because buyer demand traditionally increases at that time of year. What they don’t realize is if every homeowner believes the same thing, then that’s when they’ll have the most competition.
So, what’s the #1 reason to list your house in the winter? Less competition.
Housing supply traditionally shrinks at this time of year, so the choices buyers have will be limited. The chart below was created using the months supply of listings from the National Association of Realtors.As you can see, the ‘sweet spot’ to list your house for the most exposure naturally occurs in the late fall and winter months (November – January).
Temperatures aren’t the only thing that heats up in the spring – so do listings!In 2018, listings increased from December to May. Don’t wait for these listings and the competition that co ...
Wednesday, September 18, 2019 / by Nicole Solari
Statewide Rent Control Passed by California Legislature
As many people in the industry are aware, the California legislature passed AB 1482 last week, commonly known as the statewide “rent cap bill.” The bill is expected to be signed into law by Gov. Newson in October. While parts could still change before then, we now have a good enough idea to know what to expect. Basically, the law will make it harder to evict a tenant after she has resided in the property for 12 months and it will cap rent increases between 5% and 10%.However, not all residential properties will be subject to the law.
The bill currently excludes most single-family, duplex and new construction residencies.
At present, the following residential circumstances are exempt from the bill: A) Real property that has been issued a certificate of occupancy within the previous 15 years. So, most homes built after 2004 w ...
Monday, September 9, 2019 / by Nicole Solari
Everybody Calm Down! This Is NOT 2008
Last week realtor.com released the results of a survey that produced three major revelations:
53% of home purchasers (first-time and repeat buyers) currently in the market believe a recession will occur this year or next.
57% believe the next recession will be as bad or worse than 2008.
55% said they would cancel plans to move if a recession occurred.
Since we are currently experiencing the longest-ever economic expansion in American history, there is reason to believe a recession could occur in the not-too-distant future. And, it does make sense that buyers and sellers remember the horrors of 2008 when they hear the word “recession.”
Ali Wolf, Director of Economic Research at the real estate consulting firm Meyers Research, addressed this point in a recent interview:
“With people having PTSD from the last time, they’re still afraid of buying at the wrong t ...
Friday, August 23, 2019 / by Nicole Solari
The pumpkin spice latte is launching soon, so you may be tempted to spend your extra cash on a daily caffeine fix, but that small expense can add up to a big number – fast!
Saving for a down payment takes a little discipline, so limiting your extra purchases (like a latte a day from your favorite coffee shop) will help you get there faster.
Depending on where you live, putting away just a small amount each day will get you to the average down payment you may need for homeownership faster than you think.