2022 Real Estate Law Book Now Available Online


Sacramento – The latest issue of the annual Department of Real Estate (DRE) Real Estate Law book is now available for

viewing online on DRE's website. At the beginning of the book you will find the "Statute and Regulation Changes," which lists changes in the book from the prior year. Unless otherwise noted, the new laws take effect January 1, 2022. For a summary of real estate law changes, please see DRE's Industry Advisory, "Summary of New Real Estate Laws."

The 2022 Real Estate Law book is comprised of statutes and regulations that should be familiar to those working in real estate and includes the following sections: real estate and subdivided lands law; regulations of the real estate commissioner; the Administrative Procedures Act; and pertinent excerpts from other California codes, including additional sections of the Business and Professions and Government codes.

Please note that the 2022 Real Estate Law book does not contain all laws relevant to real estate. The 29 codes that comprise California law are available in their entirety at the

official website for California legislative information.

Because of production delays related to Covid-19, print copies of the book for purchase are expected to be available in early Spring 2022. To order, please complete and submit, along with payment, the Department of Real Estate


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Sunil Sethi Real Estate

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

www.sunilsethi.com
BRE #01173766

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2022 Home Prices Expected to Continue to Rise

Last year the average increase in home prices per Zillow was 19%, this year they are predicting the average increase will be 11%.
To give you an idea of what this means, take a look at these numbers. 

2021 BOY2021 EOY2022 EOY
$840,336$1,000,000$1,110,000
$924,370$1,100,000$1,221,000
$1,008,403$1,200,000$1,332,000
$1,092,437$1,300,000$1,443,000
$1,176,471$1,400,000$1,554,000
$1,260,504$1,500,000$1,665,000
$1,344,538$1,600,000$1,776,000
$1,428,571$1,700,000$1,887,000
$1,512,605$1,800,000$1,998,000
$1,596,639$1,900,000$2,109,000
$1,680,672$2,000,000$2,220,000
$1,764,706$2,100,000$2,331,000
$1,848,739$2,200,000$2,442,000
$1,932,773$2,300,000$2,553,000
$2,016,807$2,400,000$2,664,000
$2,100,840$2,500,000$2,775,000

If you had bought in the beginning of 2021 you would have paid around $840K, at the end of the year the home was going for $1M and by the end of 2022 it'll be selling for $1.111M. 

This story has been consistent every year since the market rebounder after the sub-prime crash. There was one hiatus in stead upward climb which was between June to Dec 2018.  If you are planning to buy, soone is always better.

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Sunil Sethi Real Estate

Sunil Sethi / REALTOR, Broker, MBA

www.sunilsethi.com
BRE #01173766

Twitter  Facebook    LinkedIn  Skype  Youtube  Zillow  Yelp 


Real Estate Withholding by State for Non-residents

Courtesy of Chicago Title for this chart on real estate withholding by state for non-residents.

There are currently 16 states with some type of state withholding requirements or reporting for nonresident sellers. Those states are:


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Sunil Sethi Real Estate

Sunil Sethi / REALTOR, Broker, MBA, CPA(inactive), GREEN
www.sunilsethi.com

BRE #01173766

Twitter  Facebook    LinkedIn  Skype  Youtube  Zillow  Yelp