The following are excerpts from recent amendments to Calif Law effective Jan. 01, 2020 regarding creation of ADUs and Junior ADUs. Legislation are from the following bills: SB 13, AB 68, AB 881.
Join us this Saturday to hear from your State leaders and local experts on latest legislation that removed barriers to enable building ADUs and making it more affordable.
Drop by our booth to learn about financing, see pre-designed plans and renderings.
To register: SDCIA website
Attached article suggest millennials avoid fixer-uppers preferring move-in ready. My experience as real estate service provider in the field every day with buyers doing home inspections & renovation loans is not the same. The perfect move-in home with all the buyer's desires is frankly rare. I wish there were some statistics on the percentage of home buyers that do some finish renovations prior to move in. It's prevalent with my clients. Many want to add their finished tastes while the property is vacant. New flooring and interior paint, scrub off the popcorn ceiling, remove dining room top the list. Savvy buyers look for worn properties to buy at a discount find a reasonable reliable contractor and utilize a renovation loan from HUD or Fannie Mae. These buyers are excited to select their finishes to enjoy for years to come. See our Before & After projects: Before & After Webpage
Link to Article: Nobody’s Buying Fixer-Uppers Anymore, But Here’s Why They Should
Good insight on market stats that provides ideas and strategies to create home-ownership to service millennial's and the Hispanic communities. Important trends on creating more solutions to renovation financing, technology trends and innovation. An important read for realtors and lenders.
New Changes to ADU Ordinances
Several bills were signed yesterday by governor Newsom that will have important benefits in building ADUs
The construction of accessory dwelling units (ADUs) can also help cities meet their housing goals and increase the state’s affordable housing supply. The Governor signed the following bills to eliminate barriers to building ADUs:
Mike Avery with Instant Guest Homes is featured with modular tiny homes or ADUs. They can drop in your back yard starting at $90,000 minus hookups and permit fees.
San Diego's Channel 10 News Feature article
We crunched the numbers. Learn more about the profitability of investing in ADUs for home buyers and owners.
This will create income for the new & the savvy real estate investor or baby boomer in desperate need of building income for their retirement.
We don't have to look far to feel the housing crisis. Retiring parents, siblings, adult children may be struggling to control and manage housing costs. New ADU ordinances and renovation loans can enable homeowners to build ADUs on their current properties for their loved ones.
Here is an alternate strategy of leveraging real estate equity and enjoying Aging in Place.