Action Realty Sales

AB 2204 Could Affect the Cost of Transferring Property

admin — Thu, 07 Aug 2008 23:08:44 +0000

AB 2204 is currently making it’s way through the legislature. It is designed to fight discrimination in the real estate market but its effectiveness has been called into question and it’s costs are great. The Bill will require a title insurance company to strike any racist covenants, conditions, or restrictions from the deed or other instrument before property is transferred. (more…)

President Signs the Housing and Economic Recovery Act of 2008 Into Law

admin — Fri, 01 Aug 2008 23:08:31 +0000

On Wednesday, July 30 the Act was signed into law. The Housing and Economic Recovery Act of 2008, which authorizes the Department of the Treasury to purchase obligations of housing Government Sponsored Enterprises (GSEs); reforms the regulatory supervision of the housing GSEs; provides reform of the Federal Housing Administration; provides homeownership assistance and reforms to mitigate recent increases in foreclosures; and contains housing-related tax incentives and other tax provisions.
Take a look at the Bill

Hot Weather is Here and You can Help your Tenants Save Money and the Environment

admin — Thu, 19 Jun 2008 19:51:14 +0000

California Edison customers receive rebates when they receive certified air conditioning tune-ups, subject to verification.

1. To be eligible for the rebate: (a) I must be a Southern California Edison customer on a residential, GS-1 or GS-2 rate, and (b) the service(s) I have completed must (i) qualify for the rebate, (ii) be performed at a single-family residential dwelling, or (iii) at a business less than 200kW, fully constructed and occupied, within SCE’s service area. (more…)

Realtors Mobilize to Prevent Additional Costs to Real Estate Transactions

admin — Mon, 16 Jun 2008 21:08:54 +0000

California Association of Realtors initially OPPOSED AB 2678 (Núñez) because it effectively would have required, among other things, that ALL homes and commercial property in California have an energy audit at point-of-sale, and that mandatory energy efficiency investments be made. (more…)

Bill Would Allow Landlords to Ban Smoking in Rentals

admin — Thu, 12 Jun 2008 05:13:42 +0000

SACRAMENTO, Calif.—California apartment complexes could be declared smoke-free zones under legislation. Sen. Alex Padilla says his bill would ensure that owners of rental housing have the option to ban smoking. (more…)

California: Proposition 99 defeats Proposition 98

admin — Tue, 03 Jun 2008 22:30:05 +0000

Californians voted on the competing eminent domain initiatives on June 3rd.

Read about the proposition that passed and how this could affect you.

Exchanging Property You Didn’t Know You Had

admin — Fri, 09 May 2008 03:04:37 +0000

Transferable Development Rights for Real Property “Development Rights” is defined as unused rights to develop a property to the extent permitted under state or local law. As states and municipalities have acted to restrict and regulate new construction, the value of development rights has skyrocketed. In recent years, some states and local governments have adopted rules permitting unused development rights to be transferred to another parcel. (more…)

4th District Upholds Unique Value of Investment Property

admin — Tue, 06 May 2008 23:41:32 +0000

Just because real property is purchased as an investment, it doesn’t mean that monetary damages are adequate to compensate the buyer for the loss of the subject property and accompanying investment opportunity. (more…)

Beverly Hilton Revitalization Plan Development Proposal – Update

admin — Tue, 22 Apr 2008 20:44:53 +0000

The original proposal submitted to the City by Oasis West Realty, LLC, included a 14-story Waldorf-Astoria at the intersection of Wilshire and Santa Monica Boulevards with 120 hotel rooms and 30 condominium units with a 2-story element including a restaurant, a 3-story Beverly Hilton conference center with 50 hotel rooms and a one story cabana pool area. The proposal also consisted of a 13- story condominium building with 42 residential units (Residence A) on the corner of Wilshire Boulevard and Merv Griffin Way, and a second 13-story condominium building with 48 residential units (Residence B) on Santa Monica Boulevard. During the Planning Commission’s review, the proposed project was revised several times. (more…)

New article. California Association of Realtors opposes new bill!

admin — Tue, 22 Apr 2008 20:33:18 +0000

C.A.R. is OPPOSING AB 2678 (Núñez) which among other things, requires that ALL homes and commercial property in California have an energy audit at point-of-sale and that mandatory energy efficiency investments be made. While C.A.R. appreciates the goal of AB 2678 C.A.R. strongly opposes the point-of-sale requirements in AB 2678 because they fail to achieve the bill’s objectives and, such mandates will further weaken the housing market. If enacted, AB 2678 could add thousands of dollars to the cost of purchasing a home, including up to $400 just to have a home audited.