September 2017 Alameda County Housing Inventory Snapshot

I hope you will find the following snapshot of local Real Estate inventory interesting. The table represents aggregated values based on MLS data for the specified date.

Housing Inventory Snapshot September 27, 2017
 Average List Price30 Days TrendMedian List Price30 Days TrendAverage DOM: active/sold30 Days TrendNumber of Listings
Alameda County, CA
Single Family under $1M$699,1021.73%$699,9500.14%302628
Single Family over $1M$1,862,4253.65%$1,499,0003.38%471329
Condo/Townhome under $600K$481,6104.37%$490,8886.95%306144
Condo/Townhome over $600K$760,418-2.16%$745,746-0.43%33-4116
San Mateo County, CA
Single Family under $1M$840,174-1.54%$849,000-1.16%26 / 120 / -184
Single Family over $1M$4,551,452-3.90%$2,300,000-7.41%59 / 13-3 / -15341
Condo/Townhome under $600K$521,5557.80%$499,0001.84%67 / 1026 / -1114
Condo/Townhome over $600K$1,060,0334.02%$918,0004.44%33 / 136 / -377
Santa Clara County, CA
Single Family under $1M$832,332-0.79%$860,000-2.16%37 / 214 / 5209
Single Family over $1M$3,101,9396.34%$1,999,0000.05%59 / 241 / 5522
Condo/Townhome under $600K$489,3893.71%$499,0007.31%13 / 7-5 / -1244
Condo/Townhome over $600K$1,021,1190.69%$928,0003.69%22 / 11-2 / -3112
Santa Cruz County, CA
Single Family under $1M$726,840-0.60%$749,000-2.09%50 / 304 / 13195
Single Family over $1M$2,068,1751.02%$1,499,0000.00%89 / 323 / -29182
Condo/Townhome under $600K$412,938-8.22%$435,000-8.42%64 / 316 / -1324
Condo/Townhome over $600K$863,4042.72%$749,900-0.01%117 / 60 / -2839

If you know someone who is considering buying or selling a home, please give me a call. I will provide professional & courteous service along with knowledgeable guidance through the process.


-- 

Sunil Sethi Real Estate

Sunil Sethi / REALTOR, Broker, MBA, CPA(inactive), GREEN

Sunil Sethi Real Estate 
38750 Paseo Padre Pkwy #B3, Fremont, CA 94536 
www.sunilsethi.com
BRE #01173766

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Fwd: Property Management in Fremont and San Leandro


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Property Management in Fremont and San Leandro
New rules are coming to  Fremont and San Leandro that will directly impact property managers:

Fremont: This week the Fremont City Council took the first step towards expanding its current Residential Rent Increase Dispute Resolution Ordinance (RRIDRO).
The new "Rent Review Ordinance" will create new dispute mediation resources and establish a Rent Review Board.  Tenants could access these resources if their rent is increased by more than 5 percent during a 12-month period.  The ordinance will apply to all rental properties including single family detached homes and condominiums.  

San Leandro: The San Lenadro City Council has approved a tenant relocation ordinance which requires property owners to provide up to $7,000 in relocation assistance.  Tenants would be eligible to receive the relocation payment if their rent is increased more than 12 percent during a 12-month period and the tenant ends their lease.  A property owner ending a tenant's lease when selling the property also will trigger the relocation payment.  

The ordinance takes effect in Mid-October.  For more information, please contact Thomas Liao, Deputy Community Development Director, at:  tliao@sanleandro.org 


Government is so Messed Up - it costs less to have things run separately

from CAR

Department of Real Estate Restoration Bill Moves Forward

The effort to reestablish the Department of Real Estate moved forward last week as C.A.R.-sponsored SB 173 (Dodd) has passed the legislature.

In 2012, the Brown Administration made changes to the state's organizational structure in an effort to streamline government practices.  These changes included moving the Department of Real Estate to the Business, Consumer Services, and Housing Agency (BCSH) to function under the Department of Consumer Affairs as a Bureau.  SB 173 would return CalBRE to its standing as the Department of Real Estate within BCSH.

Despite the Administration's intention to save the state money and improve operational efficiencies; under the Department of Consumer Affairs, the cost to operate the CalBRE has increased. $3.5 million of CalBRE's budget is diverted through a "pro-rata assessment" (administrative overhead)  to the Department of Consumer Affairs. It is estimated that by returning BRE to its former status as a department, the Bureau would save about $3.5 million, all collected through fees paid by licensees.  This "pro-rata assessment" is essentially a  subsidy of licensees' fees to the DCA. SB 173 passed the legislature with unanimous floor votes in both houses and has been sent to the Governor for signature.

 


--

Sunil Sethi Real Estate

Sunil Sethi / REALTOR, Broker, MBA, CPA(inactive), GREEN

Sunil Sethi Real Estate 
38750 Paseo Padre Pkwy #B3, Fremont, CA 94536 
www.sunilsethi.com
BRE #01173766

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Let's see if this lowers HOA Document Costs

from CAR

HOA Disclosures – CAR Sponsored Law
This new law holds down the costs that an HOA may charge a seller for the HOA documents by requiring a clear statement on the billing form (C.A.R. Form HOA2) that the seller is not required to purchase all of the listed documents, but may provide the buyer, at no cost, current copies of any of the disclosures that the seller already has in their possession. Moreover, the annual budget report must individually identify the cost of each separate disclosure document on the billing form thereby giving advance notice of and transparency to these fees. 

HOA managers must disclose to the HOA whether they receive a referral fee or other benefit from a third party who provides disclosure documents, and must provide a written acknowledgement that the disclosure documents are the property of the association and not those of the manager or the manager's firm.  Effective January 1, 2017.


--

Sunil Sethi Real Estate

Sunil Sethi / REALTOR, Broker, MBA, CPA(inactive), GREEN
Sunil Sethi Real Estate 

38750 Paseo Padre Pkwy #B3, Fremont, CA 94536 
www.sunilsethi.com
BRE #01173766

Twitter  Facebook  Google +  LinkedIn  Skype  Youtube  Zillow  Yelp