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Amended Bill Would Eliminate Mortgage Interest Deduction for Second Homes

The California Legislature is currently considering amending AB71, which would eliminate the mortgage interest deduction for second homes. The purpose is to fund an increase in low- income housing tax credits. The California Association of Realtors is opposing this Bill. It will be voted on by the
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Question and Answer Regarding Water Conversation Plumbing Fixtures

Question: I have a seller selling a property with a home built before 2004. He does not know whether the plumbing fixtures comply with the California Conservation Plumbing Act. Does he need to hire a plumber to answer the questions on the Transfer Disclosure Statement?Answer: No, however, your
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Congress Addresses PACE Loans

The United States Congress is currently addressing issues arising out of PACE loans. These loans, created by the Property Assessed Clean Energy (“PACE”) program, allow homeowners to obtain financing to make improvements to their home to increase their homes’ energy efficiency. PACE
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Question and Answer Regarding a Seller’s Inability to Close Escrow

Question and Answer Regarding a Seller’s Inability to Close EscrowQuestion: I am a listing agent. The property is in escrow. A neighbor recently sued the seller and recorded a Lis Pendens against the property. The seller can no longer transfer title. What advice should I give the
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New Forms Issued by California Association of Realtors

New Forms Issued by California Association of RealtorsOn June 1, 2017, the following forms new forms will be released by the California Association of Realtors:1. Bedbug Disclosure;2. Cancellation of Lease or Rent;3. Pre-Possession Notice to Tenant to Pay; and4. Water Submeter Addendum.These forms
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Legislature Proposes Bill to Eliminate Interest Deduction on Second Homes

Legislature Proposes Bill to Eliminate Interest Deduction on Second HomesAB 73, is a bill pending before the California legislature, which would eliminate mortgage interest deductions on second homes. The purpose is to fund an increase in low-income housing tax credits. It is predicted that if the
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California Bureau of Real Estate v. The Department of Real Estate

California Bureau of Real Estate v. The Department of Real EstateWe have received numerous inquiries as to whether the Bureau of Real Estate is becoming The Department of Real Estate. There is a Senate bill currently pending before the California legislature, which would remove the Bureau of Real
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