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The perks of buying homes during the fall

California residents may believe that they are out of luck if they can't find a house by September in a given year. However, the fall months may actually provide an opportunity to purchase a home. During this time, there may be fewer people actually looking for properties, which may result in fewer offers for homes on the market. When a home receives multiple offers, the price might be driven up.

Therefore, shopping during the fall months may make it easier to make a purchase without getting into a price war. Buying in the fall may also mean that new homeowners don't have to wait as long to write off their mortgage interest or private mortgage premiums. Property taxes and other costs related to getting the loan may also be deducted from a person's taxable income.

Were you accused of not having an ADA compliant parking lot?

Parking is an issue for most people on a good day. For those who have disabilities requiring parking compliant with the Americans with Disabilities Act, it can be an issue every day. This is why your business's parking lot must accommodate those with disabilities.

More than likely, you had your company's parking lot made compliant with the ADA. However, that did not stop someone from lodging accusations against you that your parking lot fails to accommodate people with disabilities.

How to know when a real estate bid is accepted

California residents often dream of purchasing a home of their own. It can be exciting to visit homes for sale and to make the decision to place a bid. Many home buyers also find that waiting to find out if an offer has been accepted can be a bit stressful, particularly when they have to wait more than a few days to get a response.

There are many reasons why a prospective home buyer may have to wait several days or more to learn whether the bid has been accepted. The first is that the seller has not had an opportunity to review, consider or respond to the offer. While it is true that many sellers are eager to get the process rolling, life circumstances such as an illness or death in the family may interfere with the seller's ability to carefully review the offer.

Second quarter CRE report paints rosy picture for investors

Commercial real estate investors in California and around the country can expect returns to remain steady in the months ahead, according to a recent report from NAI Global. The brokerage firm made the prediction after studying industrial, office and retail vacancy rates and rents in 21 key markets. Based on the report, vacancy rates are already at or near 10- or 20-year lows. The resulting shortage of space has pushed rents higher in most parts of the country.

While office rents fell slightly during the second quarter, the NAI report puts this largely down to a noticeable downturn in rents in Chicago and New York. Office rents rose slightly in the other 19 markets studied, and vacancy rates were 9.6 percent for the third consecutive quarter. Net absorption also rose in the industrial sector despite falling in 12 of 21 markets, and rents inched up by 1.6 percent after increasing by 1.7 percent in the first quarter.

Due diligence and buying commercial property

For commercial real estate investors in California who are considering properties to buy, due diligence is an important part of the process. It allows prospective buyers to make sure that that the property in question will be a wise investment for them.

Buyers should have enough time to properly evaluate the structural integrity of a property and to determine if it is compliant with local environmental and zoning laws. It is also necessary to research the title history and review the books and records of the seller. Knowing before purchasing the property what types of liabilities will be assumed and if there is an issue with the cash flow related to the property are issues that have to be addressed before a sale is completed.

Commercial real estate outlook is good for California

California commercial property owners and developers may be interested in a forecast by the National Association of Realtors. According to the trade association, commercial real estate is expected to be strong in the coming months.

The National Association of Realtors believes that the overall commercial real estate vacancy rate is expected to decline to 11.9 percent, which is a 1.1 percent overall drop. The industrial sector vacancy rate is also expected to decline to 7.8 percent and retail is expected to drop by 0.4 percent. In the multi-family sector, the vacancy rate is expected to fall from 6.6 percent to 6.1 percent.

Many American housing markets becoming overvalued

California residents may have noticed that home prices keep climbing even though incomes have largely failed to keep pace. According to data from CoreLogic, 46 percent of the top 50 housing markets in the United States were overvalued at the end of July 2017. A market is overvalued when home prices are more than 10 percent higher than what is considered a long-term sustainable value. Only 16 percent of markets were undervalued while the other 38 percent were considered a fair value.

Home prices increased 6.7 percent in July compared to last year while the number of available homes fell 9 percent in July compared to last year. According to the National Association of Realtors, the latest inventory figure continues a trend that has been ongoing for the last three years. Home prices have seen their sharpest growth in places such as Denver, where technology companies have made their home.

Does your website need to be ADA compliant?

Are you looking at that question and wondering why you haven't heard about ADA compliant websites before? That's because there are no real instructions or standards for you to follow. That doesn't mean that some controversy or truth to making websites usable by those who have disabilities doesn't exist.

Back in 2010, the U.S. Department of Justice announced that it was going to include the internet in the "places of public accommodation" outlined in the Americans with Disabilities Act. The DOJ gave itself until 2018 to come up with the new rules. However, that does not necessarily mean that it will happen. In the meantime, it may be a good idea to have at least some idea of how the ADA could affect your website.

Supply problems still impacting residential real estate markets

The number of people signing contracts to buy homes climbed in California and other western states in July, but this was not enough to assuage the growing fears of industry experts. The number of new residential real estate contracts across the country as a whole fell in July for the fourth time in five months, and analysts are putting the blame on dwindling supplies rather than unfavorable economic conditions. A robust and growing economy, healthy employment figures and low mortgage interest rates continue to fuel the demand for houses. However, buyers in many of the nation's most active markets are finding few suitable properties to choose from.

The inventory of houses for sale in the United States has fallen by a worrying 9 percent over the last year and stood at just 1.92 million at the end of July. Prices rise when supplies are constrained, and the latest figures from organizations like the National Association of Realtors show that the average house price in the United States has increased recently by 6.2 percent to $258,000. These reports are especially concerning for experts as they reveal that residential real estate prices are climbing far more quickly than wages.

Senior concerns when buying residential real estate

Senior citizens may feel a bit foolish looking to purchase their first home, but the truth is there is no reason to feel this way. Buying residential property is an investment like any other, and it can provide a payoff by helping people of any age meet their personal goals. A report from the National Association of Realtors found that people over the age of 52 made up nearly one-fourth of first-time buyers, so California seniors should not feel out of place in making this move.

There are special concerns for seniors looking to make this long-term investment in residential real estate. Unlike with a young, growing family where moves and rising income are expected, seniors are often looking at the first home as their last. They also may face stagnant, declining or at the least not rapidly increasing income. Other considerations include distance to and accommodations for friends and family, potential for loss of mobility and ability to maintain any given property.

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L. Scott Karlin

L. Scott Karlin

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David E. Karlin

David E. Karlin

David E. Karlin is a California attorney with a primary focus on business and real estate, including law and legal issues...

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Michael J. Karlin

Michael J. Karlin

Michael J. Karlin is a Southern California based attorney whose practice primarily focuses on Entertainment Law. Michael began...

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