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May 2017 Archives

California millennials lack funds for down payments

According to a study by Apartment List, 70 percent of millennials around the country have less than $1,000 for a down payment on a home. Fewer than 30 percent of those between the ages of 25 to 34 would be able to save 10 percent of a home's purchase price within three years. Furthermore, only 15 percent would be able to do so in the next year.

Supply issues are heating up residential property markets

The pace of home sales in California and around the country generally picks up during the spring and summer months, but recent reports suggest that today's buyers have a dwindling supply of houses to choose from. Desirable homes are being snapped within days of being listed, and bidding wars are becoming increasingly common. The problem is especially acute at the entry level, and realtors say that it is not uncommon for sellers to receive a dozen or more offers for affordable properties.

Trump tax reform uncertainty strikes commercial real estate

Commercial property developers in California may now be thinking twice before starting projects that would have been carried out without hesitation a few years ago. Potentially huge changes on the horizon, including tax reform and inflation, are uncertain and likely to have serious implications in the debt-heavy world of commercial real estate financing. A look at the market in New York offers insights into why some investors are moving ahead despite the uncertainty and others are choosing to forego profits and play it safe.

The benefits of commercial property investing

There are several reasons why real estate investors in California and around the country may be drawn to commercial rather than residential properties, and this may be especially true when they are landlords. Residential renters often complain belligerently about relatively minor issues, and they may ask their landlords to intervene when they become embroiled in petty disputes with their neighbors. However, commercial tenants rarely bother their landlords unless the situation is pressing and their options are limited.

Understanding the rights of a tenant

Those who wish to rent property in California have many rights. For instance, a landlord cannot reject an application for an apartment because of a person's race, gender or religion. Landlords also cannot reject applications from people based on their national origin, because they have children or because of a physical or mental disability. On a state or local level, there may be laws against discrimination based on sexual orientation or marital status.

How residential property is titled and transferred

California residents who have purchased a home know that completing a residential real estate transaction involves signing copious amounts of documents and dealing with a profusion of legal issues. Deciding how residential properties will be titled is a crucial consideration when more than one buyer is involved, and understanding the differences between joint tenancies and tenancies in common can prevent bitter legal disputes should one of the buyers die.

Challenging a property tax assessment

California residents who wish to challenge a tax assessment may meet with an assessor to make their case. However, the request must be based on solid evidence as opposed to a general complaint that the rate is too high. For instance, it may be possible to get a reduction if the assessment was based on an extra bedroom or bathroom that the house doesn't have.

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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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ADA Fraud Reported

A recent article on the news concerns a man in Riverside County who allegedly has attempted to obtain money from property owners and businesses based on alleged violations of the Americans with Disablities Act (ADA). Read More

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