San Ramon January 2022 Market Update by Rama Mehra
Here's what's currently happening in the market given to you by Rama herself! Want to know more about the market? Get it here.
You Might Have a Hard Time Selling Your Rental in the Near Future
Things are going to change for property owners who are currently renting out their properties to tenants. Currently, the Ellis Act, which is a provision in California Law (Government Code section 7060-7060.7) that provides property owners in the state of California a legal way to go out of the rental market business, is being amended and a new bill is being processed to be passed. The new bill, AB 854 would require the landowner to own the property for 5 years before evicting their tenants. Varying opinions arise from this amendment. This bill would both protect renters from serial evictors and at the same time, give property owners a difficult time to transition with the future imposition of limitations. Watch the report of ABC10 here. This bill was introduced by Bay Area Democratic Assemblymember Alex Lee and he said that this is a part of a three-pronged approach to solving the housing crisis. California Association of REALTORS® (C.A.R.) reported that the State Assembly may be taking action on AB 854 this week. They have mobilized REALTORS® in some Assembly Districts to contact their legislators. None of the Assembly members who represent the Bay East communities are part of this mobilization so far. What are your thoughts on these possible changes? We'd love to discuss your options in light of this upcoming change in our state. If you have any questions regarding selling your property, give us a call at 925-415-0835. If you want to read the whole bill, click here.
Have You Considered Building Your Home?
It's a known fact that it's very difficult to find a home nowadays. If you've stopped searching with the hopes of more inventory in the coming months, we're with you. But if you haven't considered building your own home, you might want to look at this option as well. These are some pretty great advantages to building your own home. 1. You can design every detail of your home. If you've dreamt of having your own home for a long time and planned out how you want it to look like to the size of each room, paint color and what kind of furniture you will place in each one, then this option is for you. 2. You can make your home more energy-efficient. We all want to make choices that are better for the environment. Since you will be building from scratch, you can choose options that are energy efficient. It might be a more costly choice initially, but it will help you save a lot of utility bills in the long run. 3. You are sure that the quality of every material is within your standards. Another perk in working with builders is that they offer a warranty on their projects. That means each portion in your home would be made with the highest quality of craftsmanship. You also have the option to choose the best materials that will be placed in your home. 4. Everything is new! Nothing beats that! Of course, building your own home comes with a hefty price. So you want to make sure that you have a real estate professional who can suggest the best lots in the best neighborhood and know suppliers who are known for their skills and quality of work. If you are convinced to build a home, you'll definitely need a professional by your side. If you're looking around East Bay, the Rama Mehra Team is the team for you.
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