Real Estate

Anatomy of a Real Estate Transaction
by Graham Morland

Buying a home in California is different. So what else is new. Isn't all of California different? Well, let's stay away from all that for the time being and only talk about the home buying process. First of all, attorneys are rarely used to draw up contracts or to consummate real estate transactions. Rather, we use escrow companies. After you've found the home and begun negotiations, you'll begin hearing about "opening escrow" and "closing escrow". full story >

SantaCruz-RealEstate.com March 2003 Newsletter
by Graham Morland

Well the 2002 annual real estate statistics are available for Santa Cruz County. This article compares the 2002 statistics with 2001. Overall it was a good year for buyers and sellers alike driven by low interest rates and strong demand. The lower half of the market was the strongest all year with average days on market less than 60 days and in the case of condo's/townhomes less that 45 days. The very top half of the market was slower with many $1M dollar properties on the market for many months and in some cases selling at a discounted price levels. full story >

Real Estate Withholding Rule Changes and the 1031 Exchange
by Rodney Fitzpatrick

As of January 1, 2003 Assembly Bill 2065 (Chapter 02-488) revised Revenue and Taxation Code Section 18662, requires withholding of 3- 1/3 percent of the sales price of investment property for residents, non-residents and corporations with no permanent place of business in California. full story >

What Is A Buyer's Agent Anyway?
by Graham Morland

"Agency" in real estate refers to the nature of the fiduciary responsibility that exists between you and the real estate professional you choose to work with. Having a complete understanding of the nature of this relationship is the first step to achieving your real estate goals. full story >

What Is A Seller's Agent Anyway?
by Graham Morland

"Seller's Agent", "Listing Agent", "Buyer's Agent", "Selling Agent"... what do all these terms mean? The most basic definition of a "Seller's Agent" is "An agent who represents owners who wish to sell their property." The Seller's Agent is also often referred to as the "Listing Agent". The "Buyer's Agent" also known as the "Selling Agent" represents the people buying the house. In this article I will be discussing the services provided by the Listing Agent. full story >

Using the Internet to Buy Your Next Home
by Brigitte Eaton

Back in 1996 when i was buying my first home, I attempted to search for it over using the Web. It wasn't easy. There were only a few sites out there, mostly realtors advertising their services. Try as I might, I couldn't find any listings online and was forced into travelling from San Jose to Santa Cruz in order to pick-up homes magazines. Thankfully, the Web has changed a *lot* since then. full story >

Tax Strategy and the 1031 Exchange
by Rodney Fitzpatrick

The 1031 exchange process offers some great benefits to persons who want to be flexible and creative with their tax strategy. One does not have to be an expert in this field, just educated enough to recognize the opportunities and the potential. With the real estate market trying to bounce back from a bad economy, might this be the time to exchange for that property that you always wanted by the beach? full story >

Married Couples - A Third Way to Hold Title
by Graham Morland

Beginning July 1, 2001 married couples in California have a new way to hold title to their real estate property(s). Traditionally, spouses could hold title to property together in one of two ways: joint tenancy, or community property. There is now a third form of holding title known as "community property with right of survivorship". full story >

Toxic Mold Disclosure
by Graham Morland

Effective January 1, 2002 sellers must make a disclosure regarding mold. In order to provide added protection for sellers and REALTORS, the Buyer's Inspection Advisory (Form BIA-11) has been updated to advise buyers specifically to inspect the property for, among other things, mold. For inclusion of the mold language, REALTORS should be sure to use a purchase contract printed in August 2001 or later. full story >

Buyers Inspection Advisory: Importance of Property Inspection
by Graham Morland

The physical condition of the land and improvements being purchased is not guaranteed by either the Seller or Brokers. For this reason a Buyer should conduct thorough inspections of the Property personally and with professional inspectors. Expect these (licensed) professionals to provide written reports of their inspections. A general physical inspection by a professional does not typically cover all aspects of the Property, nor items affecting the Property which are not physically located on the Property. If the professionals recommend further investigation you should arrange for other qualified experts to conduct such additional investigations, tests, or inspections. full story >

Sellers Advisory
by Graham Morland

Selling property in California is a process that involves many steps, taking anywhere from a few weeks to a few months. The seller's advisory addresses requirements that are imposed upon you by law, or the listing contract, or a sales contract. Not fully understanding and following the disclosure and statutory duties required by you the seller can lead to adverse arbitration and/or litigation. Your local real estate agent or the author of this article can help you understand your obligations and duties in selling your property. full story >

Real Estate Agency Relationships
by Graham Morland

One of the most important disclosures in real estate is that of representation. Many buyers and sellers do not understand fully the implications of things such as dual agency or double ended transactions. This article is intended to throw some light on the subject. full story >

How Do Warranty Companies Differ?
by Dennis Polyniak

I was recently asked how warranty companies differed in their coverage and how they provide service to plan holders. While on the surface this may seem like a simple question, it is anything but simple. full story >

Why Aren't More Exchanges Happening?
by Rodney Fitzpatrick

Since 1921 the 1031 Tax Deferred Code has been in effect. This provision by our federal government is a "God Send" gift for investment property owners. Think of the tens of thousands of dollars a person can save on unnecessary taxes. Why in the world wouldn't they use it? full story >

Warranties on Rentals?
by Dennis Polyniak

In the past few months I have noticed an increase in the number of warranty plans being put on rental properties. This made me wonder if landlords were catching on to a good thing or if more rental properties were being sold. As it turns out it was some of each but the with the sales of rental properties to new investor owners getting the edge. full story >

Replace or Fix?
by Dennis Polyniak

While doing my rounds in Santa Cruz County this last week I was noticing that there are very few tract style homes. Almost all the home in the area were custom or semi-custom built. This presents a unique problem to local contractors, centering mainly on the replacement parts they keep on hand and the types of service they offer. full story >

How To Succeed With Counter-Offers
by Julie Garton-Good

All at once it happens -- the seller accepts an offer from someone else. full story >

Using a Home Warranty to Market Your Home
by Dennis Polyniak

Well this months news is going to be a little different. It is time to explore the ways to sell a home faster in a slow market. One thing that is often overlooked is using the home warranty to help market the home you are trying to sell. full story >

Things That Go Bump in the Night
by Dennis Polyniak

There is just no other thrill like the first night in your new home. Just knowing that all those years of hard work, the doing without so you could save a few bucks toward the down payment, the watching every penny, the missed vacations, it all just paid off. full story >

Questions You Should Ask About Property Taxes
by Peter G. Miller

Property taxes are a major expense, one which often totals thousands of dollars per year. But property taxes are not the same for like properties or for every owner. full story >

Why You Should Perform Normal Maintenance
by Dennis Polyniak

Home protection plans or warranties, as they are more commonly referred to, are put in place to cover the mechanical systems of the home. Plumbing, electrical, heating, air conditioning and most appliances. A warranty covers failures which occur from normal usage or a system just reaching the end of it's useful life. full story >

SantaCruzRealty.Net... Building an information reference site for real estate across the Monterey Bay Counties.
by Graham Morland

With dotcommers capitulating under the pressure to produce profits and VC's shutting off funding for ill conceived business plans, why introduce a new website I asked myself. Well I had a need that was best served by designing a website that was a true information source in my current line of business.

How Will The Stock Market Plunge Impact Real Estate
by Peter G. Miller

The great ride on Wall Street is over, at least for the time being and perhaps for much longer. In the past year, says The New York Times, shareholder equity has fallen by an estimated $2.7 trillion, a big number by any standard and one which will undoubtedly influence the sale and financing of real estate in 2001. full story >

To Qualify or Not to Qualify - Vacation Homes and the 1031 Exchange
by Rodney Fitzpatrick

There is no question that a rental property used fewer than 14 days a year by the owner and rented out the rest of the year, is investment property and qualifies for a 1031 exchange. But what if a vacation home is not rented out, but is held and used only by the owner? Can it qualify for a1031 exchange? There is no direction given from the Internal Revenue Service regarding this matter. There are two potential ways of looking at this. full story >

Consumer Protection-Home Warranties
by Dennis Polyniak

A good real estate agent knows that a home protection plan is the frosting on the cake for buyers who have depleted their money resources getting into their new home and can least afford to face replacing a furnace or other major appliance soon after taking possession. full story >

What's "Fair Market Value?"
by Courtney Ronan

Fair market value. You hear the expression all the time. But what is "fair market value" and how is this number determined? full story >