Friday, October 4, 2024
New Listing - 16 Somer Ridge Drive, Roseville, CA 95661
Thursday, October 3, 2024
Featured on ABC News 10 in a story about potential difficulties getting homeowners insurance during real estate transactions...
- Are there recent insurance claims on the property? If the answer is YES, then that scenario may require extra due diligence...no matter how small or benign the claim may have been, this could pose an issue for the next home-buyer when they are shopping for an insurance. Was it a claim related to an electrical issue? Plumbing? The roof? If you are selling a home and you have had an insurance claim in the last 5ish years, please dig up as much documentation as possible as to how the issue was resolved. The buyer's insurance company will likely want to see this. AND you might want to take the proactive step of getting a new homeowners insurance policy quote up front for your buyer.
- Are there trees encroaching on the structures? If the answer is YES, it may be advisable to get these trimmed as soon as possible. If you are a seller, you may want to have foliage trimmed away from the structure before you list the home. If you are a buyer, you may want to ask the seller to trim foliage, or alternatively you may want to do this shortly after closing. While this may not prevent you from obtaining an insurance policy, it may result in a policy cancellation or a non-renewal.
- Do you have a wood shake roof, or a super old composition roof? If the answer is YES, it may be advisable to replace your roof. If you are a seller, you may want to perform roof maintenance or obtain roof replacement bids before you list the home. You can use these as disclosures, and then IF it becomes necessary to replace the roof as a condition of issuing an insurance policy, you will not have to scramble when you are under the pressure of timelines. If you are a buyer, you may want to get your own roof replacement bids for budgeting purposes, or alternatively you may want to plan to replace the roof shortly after closing. While this may not prevent you from obtaining an insurance policy, it may also result in a policy cancellation or a non-renewal.
- Do you have a Zinsco main electrical panel? If the answer is YES, it may be advisable to replace your main panel. If you are a seller, you may want to have a licensed electrical contractor inspect your panel, or obtain main panel replacement bids before you list the home. You can use these as disclosures, and then IF it becomes necessary to replace the panel as a condition of issuing an insurance policy, you will not have to scramble when you are under the pressure of timelines -- though I will say that the timeline from obtaining a permit to actual replacement usually takes about 45 days as SMUD (or Roseville Electric, or PG&E, depending on where you are) has to visit the house to approve the configuration. If you are a buyer, you may want to get your own panel replacement bids for budgeting purposes, or alternatively you may want to plan to replace the panel sometime after closing. While this may not prevent you from obtaining an insurance policy, it may also result in a policy cancellation or a non-renewal.
- Do you have old plumbing? If the answer is YES, I'm not sure I would suggest proactively doing anything, unless you have a burning desire to upgrade or replace all of the pipe and fixtures in your home!...however I've had multiple instances over the last year or so where the insurance company required installing a "Leak Detection Device" to the main water meter within a certain timeframe after closing in order to keep the insurance policy. The device itself ranges from $500 - $800, and installation expenses vary with the location of the water meter, if there is already a power source nearby, etc.
- Is your home super old? If the answer is YES, being old by itself is not necessarily an issue unless you have a brick foundation. Brick foundations may require retrofit before they can be insured. Or if your home is not bolted to its foundation...which may sound completely nuts -- why would a home not be bolted to its foundation? Folks, I have seen some things...you may be required to install a gas shut-off device.
- Are you in a high fire hazard area? If the answer is YES, you probably have already had to deal with clearing defensible space around your home, or the threat of non-renewal or cancellation, or the California Fair Plan insurance program...your buyer will face the same challenges.
Monday, September 23, 2024
Proposition 33: VOTE NO
Here’s why you should vote NO:
(1) Prop 33 would cripple development of new rental properties: Prop 33 would allow rent control on properties built after 1995. Right now, Costa-Hawkins prevents rent control on newer buildings, so that developers continue to invest in creating rental housing. If Prop 33 passes, rent control could be imposed on all properties, even new construction. Why would any developer build in California if their units could be immediately subject to rent control? This will absolutely bring development of new rental properties to a screeching halt, worsening the housing crisis. How would this be good for anyone?
(2) Prop 33 would eliminate fair rent adjustments after a tenant moves out: Under Prop 33, housing providers would no longer be able to raise rents to market rates after a tenant moves out. Currently, Costa Hawkins allows "vacancy decontrol" which permits rents to be reset to a market-rate when a tenant vacates a unit. This ensures housing providers can cover costs like renovating the unit, maintenance, and the rising costs of property taxes and insurance. Without this, providers will absolutely struggle to keep up with the increasing costs of maintaining their properties and keep up with inflation, leading to financial strain and fewer rental options as these housing providers decide to go out of business. How does that help tenants?
(3) Prop 33 would hurt “mom and pop” property owners: Prop 33 would even allow rent control to be applied to single-family homes, which are currently protected under Costa-Hawkins. This move would further discourage single-family homeowners from renting out their properties, shrinking the already limited rental market and reducing housing options for families. I’ve personally talked to several rental homeowners who are fearful of Prop 33 passing and would sell these homes immediately - which would take these rental homes off the rental market. How’s that good for tenants?
Prop 33 is literally a recipe for disaster. It will stifle new housing development, punish housing providers, and ultimately lead to fewer (not more) rental options for Californians. We are currently over 3 MILLION housing units short of what we need in California according to the California Department of Housing & Community Development. Let’s focus on fixing our severe housing shortage and on BUILDING MORE PLACES FOR PEOPLE TO LIVE. Please - vote NO on Prop 33.
Friday, September 20, 2024
Article I wrote for this month's Comstock's Magazine: The Changing Landscape of California Real Estate: What Home Buyers and Sellers Need to Know...
Effective August 17, these key practice changes include mandatory buyer representation agreements, requiring buyers to formalize their relationship with agents before home tours, and the elimination of buyer-agent compensation offers in MLS listings. Buyers will need to negotiate agent fees upfront, enhancing transparency and shifting some of the dynamics of negotiating offers and terms with sellers. Sellers may adopt new marketing strategies to appeal to buyers navigating these changes, highlighting the importance of skilled real estate professionals during the process.
Read the article here.
Monday, September 16, 2024
Some strategies to sell your Sacramento home during the Autumn season...
- Embrace the Season with Curb Appeal. Autumn in Sacramento can be stunning, with the changing foliage creating a lovely picturesque setting. Enhance your home’s curb appeal by keeping your yard clean and manicured. Power wash the exterior of your home and walkways for a crisp appearance. Clear your roof and gutters of debris, and consider trimming trees or other foliage that may be in contact with your home. Rake leaves regularly to avoid the appearance of clutter, and consider planting seasonal flowers or adding potted mums to brighten up the entrance. A welcoming front porch with cozy fall decor like pumpkins or a tasteful wreath can make a strong first impression.
- Optimize Indoor Comfort. As temperatures start to drop from our crazy hot summer days, ensuring your home feels inviting inside is crucial. Make sure your heating system is in good working order and consider scheduling a HVAC maintenance tune-up (and keep the documentation for disclosure!). Adding plush throw blankets and pillows can create a cozy atmosphere that buyers will find appealing. Clean or replace air filters to ensure good air quality and a comfortable indoor climate.
- Highlight Energy Efficiency. Autumn is a great time to showcase your home’s energy efficiency. Highlight features like double-pane windows, modern or extra insulation, or a programmable thermostat. Additionally, many homebuyers these days are often impressed by things like heat-pump HVAC systems that run on electricity instead of natural gas. If your home is exceptionally energy efficient, you might also considering gathering a year of utility bills to disclose to your buyer as well to highlight your low SMUD or PG&E expenses. These upgrades can attract buyers looking to reduce energy costs, especially as colder weather approaches.
- Focus on Natural Light. Sacramento’s autumn days are shorter, so it’s essential to maximize natural light indoors. Clean your windows to let in as much sunlight as possible and consider using light-colored, sheer window treatments to brighten up rooms instead of heavy curtains. Consider repainting dark walls and ceilings in light colors, such as whites or creams to help reflect natural light and make rooms feel brighter and more spacious. Choose decor items that reflect light, such as mirrors, metallic finishes, or glass vases. These can help bounce natural light around the room and enhance the overall brightness. Proper lighting can make spaces appear larger and more inviting.
- Address Seasonal Maintenance. Autumn is the perfect time to tackle seasonal maintenance tasks that might catch a buyer’s eye. Clean gutters to prevent potential water damage, check the roof for missing shingles, and ensure that exterior drains are clear. Addressing these issues proactively can prevent last-minute repairs and boost buyer confidence. And again, keep any documentation from maintenance to disclose to your next buyer.