OC REALTOR®: March/April 2022 by Orange County REALTORS®

WE ARE IN THIS GAME TOGETHER! ON PAGE 8

COULD MOBILE HOMES BE THE ANSWER? ON PAGE 26

WHAT HOME BUYERS WANT—BY GENERATION! ON PAGE 20 WHAT EACH GENERATION WANTS IN A REALTOR® ON PAGE 24

RISING RATES VERSUS NO INVENTORY ON PAGE 28

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GOV HUTCHINSON EXPLAINS NEW LAWS ON PAGE 31

DEFINING AND SELLING AN ELUSIVE DREAM The dream of homeownership is one that generations share, but the description of what home buyers want differs markedly from one generation to the next. In turn, each generation defines its own “must-haves” based on age, experience, and lifestyle preferences. To sell effectively, REALTORS® must customize their efforts to match the preferences of individual home buyers. on pages 20–27

CONTENTS MARCH | APRIL 2022

Real Estate by Generation!

The dream of homeownership is one that generations share, but the description of what home buyers want differs markedly from one generation to the next. In turn, each generation defines its own must-haves in a home, based on age, experience, and lifestyle preferences. To sell effectively, REALTORS® must adapt their styles of marketing and selling to match the preferences of individual home buyers, keeping in mind what each generation wants in a house. Is it a large kitchen, good schools, high-end materials, smart features, flexible spaces, ample storage, a yard in which to entertain, or a primary bedroom on the first floor if the house is multistory? But exactly as generations of buyers have preferences in the types of homes they want to see and consider, they also have preferences in the ways in which they want these homes to be advertised and sold to them. They may want to meet you through social media, watch listing videos, and communicate via apps or they may prefer the in-person approach with immediate first-class service. It all depends on their age, experience with home buying, and what makes them feel comfortable with you, with the purchase process, and with the home you are showing. What will it take for them to make it their own?

FEATURES

PRESIDENT'S MESSAGE

President Adam Rodell tells members that, because we are stronger and more effective as a group, doing the work of real estate together multiplies our success.

Michelle McCann reveals how different generations of buyers want to shop for homes, what technology they are comfortable with, how they like to communicate, and what they expect from a REALTOR®.

We Are in this Game Together!

COVER STORY

What Home Buyers Want— By Generation Michelle McCann describes how the age, personality characteristics, and lifestyle preferences of Generation Z, Millennials, Generation X, and Baby Boomers affect what they want in a home.

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What Each Generation Wants in a REALTOR®

OC REALTOR®

Could Mobile Homes Be The Answer?

Recognizing that homes are in short supply and that some buyers want to downsize, spend less, and retain some flexibility, Sabrina Blair creatively suggests that fixing up a mobile home— or a mobile home park— just might be the answer.

Leadership Academy Alumni: Where Are They Now?

Sabrina Blair asks four graduates of the Orange County REALTORS® Leadership Academy what they enjoyed about the process, what they learned from the experience, and how these lessons have influenced their personal leadership journey.

The Orange County Housing Update: Rising Rates Versus No Inventory Steven Thomas says that the two economic forces impacting the housing market right now are rising mortgage rates and a catastrophically low supply of homes to purchase.

Gov Hutchinson Explains New Laws Sherri Butterfield provides a summary of the virtual presentation Gov Hutchinson gave in late January in which he described many of the new laws that will affect REALTORS® and the practice of real estate during 2022.

On the Cover: Real Estate by Generation Print and Marketing Specialist Ivan Salmeron has used photos to represent the four generations— Generation Z, Millennials, Generation X, and Baby Boomers—that are shopping for homes in today’s challenging real estate market.

DEPARTMENTS

Names in the News

Education Central: Upcoming Classes by Track

ORANGE COUNTY

REALTOR® MAGAZINE

Love OC REALTOR®? Did you know that you can read it online, anytime? Read past issues at www.ocrealtors.org/magazine.

25552 La Paz Road Laguna Hills, CA 92653

10540 Talbert Avenue, Ste. 225 West Fountain Valley, CA 92708

Mission Statement

949-586-6800

714-375-9313

2022 OFFICERS Adam Rodell President Scott White President-Elect Joyce Endo Treasurer Lori Namazi Immediate Past President Dave Stefanides Chief Executive Officer

2022 BOARD OF DIRECTORS Erin Barry Matt Cortez Bob Fox Christina Fu Michele Harrington Len Herman Jeffrey Jackson Lori Jones Paul LePage Chip McAllister Steve Mino

Ed Molina Eileen Oldroyd Pamela Pedego Vinil Ramchandran Randy Rector Lacy Robertson Mary Rampone Lynne Suzanski Stuart Thomas Lisa Yi

MAGAZINE STAFF Sabrina Blair

Breanna Reed

Sherri Butterfield

Ivan Salmeron

Director of Communications sabrina@ocrealtors.org Communications Specialist sherri@ocrealtors.org

Accounting Administrator breanna@ocrealtors.org Print & Marketing Specialist ivan@ocrealtors.org

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OC REALTOR®

The mission of Orange County REALTORS® is to promote the REALTOR® Code of Ethics; to provide education, services, and resources to our members; and to advocate the protection of real property rights.

Notice to All Members It is the long-established policy of this Association, California Association of REALTORS®, and the National Association of REALTORS® to adhere to both the letter and spirit of the federal and state antitrust laws. For their own protection, members should be aware of the antitrust laws as they affect their specific business activities. Any illegal activity under the state and federal antitrust laws is not in compliance with Association policy, nor is it in the interests of the Association or its members. Participation in Association activities must occur only in harmony with these very important laws. Federal law prohibits discrimination based on race, color, sex, religion, or national origin in connection with the sale or rental of residential real estate, in advertising the sale or rental of housing, in the financing of housing, and in the provision of real estate brokerage services. The OC REALTOR® editor reserves the right to review and edit all submissions. Orange County REALTORS® makes no warranties and assumes no responsibility for the accuracy of the information contained herein. The opinions expressed in articles are not necessarily the opinions of Orange County REALTORS®. Orange County REALTORS® does not necessarily endorse the companies, products, or services advertised in this magazine unless specifically stated. OC REALTOR® (USPS 025-445, ISSN 1945-2179) Volume 13, Issue 2, is published by Orange County REALTORS®, 25552 La Paz Road, Laguna Hills, CA 92653. Periodicals postage paid at Laguna Beach, CA, and additional mailing offices. POSTMASTER: Send address changes to Orange County REALTORS®, 25552 La Paz Road, Laguna Hills, CA 92653-5127. Annual membership dues include $6.09 for a one-year (6 issues) subscription to OC REALTOR® magazine. OC REALTOR® cannot be responsible for unsolicited materials. Publisher: Orange County REALTORS® Printer: The Monaco Group

PRESIDENT'S MESSAGE

We Are in

THIS GAME TOGETHER! The social-distancing practices put in place during the pandemic to slow the spread of COVID-19 have made each one of us feel isolated in some way. The antidote for this isolation is Association.

By Adam Rodell 2022 PRESIDENT, ORANGE COUNTY REALTORS®

The social-distancing practices put in place since March 2020 to slow the spread of COVID-19 have made each one of us feel isolated and as if we must solve our problems alone and create our own success. But the idea of “alone” is contrary to the concept of an Association.

In other words, we know that we are stronger together and can accomplish more as a group than we can alone. Each one of us has different talents and skills. When we put all of them together, we have all the bases covered, and we have a deeper bench.

The mission of our Association—Orange County REALTORS®—is to promote the REALTOR® Code of Ethics; to provide education, services, and resources to our members; and to advocate the protection of real property rights. It is an assignment that we take on as a group and carry out together.

Rather than working alone, I encourage all our members to find ways to support one another and to work with one another so that we grow stronger together. By working together, we will multiply our wins, divide our losses, and increase our shared success.

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OC REALTOR®

Photos: www.istockphot.com/scyhter5

You are not alone.

PRESIDENT'S MESSAGE

Discover what our Association does. The first step in becoming more involved in Orange County REALTORS® is to discover what our Association does. To learn more, you can read about the Association on its website (www.ocrealtors.org), in its bimonthly magazine, OC REALTOR® (www.ocrealtors.org/magazine), or on social media. You can ask other members—and you can attend the 2022 Annual Membership Meeting and Market Forecast on March 21 to see for yourself.

Find Your Place in Orange County REALTORS®. You have unique ideas, talents, and skills. Share them with Orange County REALTORS® and with other REALTOR® and Affiliate members. Join a committee. Our committees include Affiliate (North and South), Bylaws, Credentials, Education, Finance, Global Business Alliance, Green, Grievance, Independent Broker Forum, Leadership and Professional Development, Local Government Relations (North and South), Multiple Listing Service (MLS), OCAR Cares Steering, Political Affairs and Elections (PAEC), Professional Standards, REALTOR® Risk Management, and the Young Professionals Network (YPN). Volunteer to help with a special project or simply let a Director know that you have time to spare and talent to share and are interested in becoming more involved. Acquaint yourself with the Leadership Academy. Inspired by participation in the National Association of REALTORS® (NAR) Leadership Academy, Orange County REALTORS® 2015 President Rita Tayenaka took the lead in helping our Association establish a Leadership Academy to provide “cadets”—as trainees are called— with opportunities to be exposed to innovative ideas and management techniques and to work under the tutelage of more experienced leaders toward the shared goal of advancing the real estate industry. The first Leadership Academy was held in 2016–17. Since then, seventy-eight cadets have graduated from four Leadership Academies. Many of these graduates have gone on to take more active roles as Directors or committee members in local, state, or national REALTOR® Associations, or have found other ways to use their knowledge, training, and skills to benefit the real estate community. Some of their accomplishments and contributions are highlighted on pages 14–16 in this issue of OC REALTOR®.

“We are a team, and we

are in this game together!” The RAW Group offers help and hope. During a 2019 college commencement address, Arizona Cardinals Defensive End J.J. Watt told University of Wisconsin–Madison graduates, “No matter how tough you may be, everybody needs to ask for help at some point in their lives.” For the times when Association members need to ask for help, OC REALTORS® offers the REALTOR® and Affiliate Wellness—or RAW—Group. The RAW Group is a group of people who come together to help one another live with and overcome everyday life challenges. Meetings have no agenda. Members voluntarily share their personal experiences as a way of providing help and fostering hope. The key message is that you are not the only person who faces tough challenges. No one needs to walk through his or her challenges alone. As I explained when I founded this group three years ago, the idea is that someone with a problem does not have to walk into a group of strangers. Instead, he or she can walk into a room full pf people who have had similar experiences and might be able and willing to help. Group members can feel comfortable because they feel understood, not judged. But regardless of how much time you can give and where you choose to invest your skills and apply your talents, you will find that working with other members of an Association is an effective antidote to feelings of isolation. Because we are stronger and more effective as a group, doing the work of real estate together multiplies our success. We are a team, and we are in this game together!

OC REALTOR®

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In the article titled “The Installation of Adam Rodell and the 2022 Board of Directors,” which appeared on pages 24–27 in the January/February 2022 issue of OC REALTOR®, the name Lynne Suzanski was left off a list of the 2022 Board of Directors of Orange County REALTORS® printed on page 26. The OC REALTOR® apologizes for this inadvertent omission.

Six NAR Leaders Named to 2022 Swanepoel Power 200 List Named to the 2022 Swanepoel Power 200 List were the following six National Association of REALTORS® (NAR) leaders: 11. Bob Goldberg, chief executive officer; 44. Katie Johnson, general counsel and chief member experience officer; 51. Leslie Rouda Smith, 2022 president; 53. Shannon McGahn, chief advocacy officer; 104. Dr. Lawrence Yun, chief economist and senior vice president, research; and 118. Mark Birschbach, senior vice president, strategic business, innovation, and technology. Published annually by T3 Sixty, the Swanepoel Power 200 is considered the definitive ranking of leaders and executives in the residential real estate brokerage industry.

Carolyn Cavecche to Retire as OCTax CEO and President The Orange County Taxpayers Association (OCTax) has announced the retirement of Carolyn Cavecche, its chief executive officer and president, effective March 1. Before taking the helm of OCTax in 2012, Carolyn served six years as the directly elected mayor of Orange and almost six years on the Orange City Council. Founded in 1986, OCTax is a nonpartisan, nonprofit organization whose mission is to help ensure that taxes and tax-supported programs are fair, understandable, costeffective, and good for the economy.

Huntington Beach Mayor Barbara Delgleize

Garden Grove Mayor Steve Jones

At the OCTax Annual Meeting, Two Mayors Discuss How Orange County Is Moving Forward At the Annual Meeting of the Orange County Taxpayers Association (OCTax) on February 16, OCTax President and Chief Executive Officer Carolyn Cavecche moderated a discussion by Huntington Beach Mayor Barbara Delgleize and Garden Grove Mayor Steve Jones about how the two cities are moving forward two years into the COVID-19 pandemic. “We are bouncing back,” said Steve. “We are reimagining Garden Grove, placing the emphasis on kindness and compassion, on people helping people. Our Economic Development Department has shifted its emphasis from tourism to local business.” Added Barbara, “To help local businesses recover, our emphasis is on shop local and eat local.” Asked about the state housing mandate, Steve said, “We have tried to preserve the character of our traditional single-family neighborhoods and place the density along arterials that can handle the increased traffic.” Barbara added, “Our focus is on protecting single-family residences and increasing housing along arterials. The pandemic has reminded people how important parks and open spaces are.”

Ten Are Lucky Winners in the Early Bird Dues Drawing Congratulations to the following ten members of Orange County REALTORS® whose names were randomly selected during the Early Bird Dues Drawing: Cheryl Anderson, Glenn Bushmire, Johnny Chong, Clair Craig, Edward Duval, Eddi Hsu, Benjamin Iserhien, Jacob Lawlor, Irene Mack, and Joyce Smith. They will each receive a partial refund of their dues. To be entered in the drawing, members had to renew and pay their dues in full online during the month of December. OC REALTOR®

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Photos: www.istockphot.com/Peera_Sathawirawong

Correction: Lynne Suzanski Should Have Been Listed

Photos by Marion Butterfield

NAMES IN THE NEWS

NAMES IN THE NEWS Listed Among Orange County’s 125 Most Influential for 2021 Each year, it has been the custom of the Orange County Register to name the 100 Most Influential People in Orange County and to highlight them in a series of articles that run in that newspaper during December. They are “people who made a difference in 2021,” the Register explains. “You may know their names, but others will be surprises, and many are based on the suggestions of readers.” This year, the number was increased from 100 to 125. Ten of the 2021 honorees are described below in alphabetical order by last name. Because people are born, die, and move from one place to another and because communities grow and shrink, local populations must be counted and voting district boundaries must be redrawn every ten years to ensure equal representation throughout the country. The drawing of new boundaries to determine how and where people vote is called redistricting. In California, a Citizens Redistricting Commission is responsible for redrawing those lines. As one of fourteen members of this commission, Linda Akutagawa helped to oversee the often-contentious redistricting process. After plans for a veterans cemetery on or near the site of the former Marine Corps Air Station El Toro in Irvine got mired in a political fight, Nick Berardino helped refocus those efforts on a county-owned site in Anaheim hills. The idea won support from every city council in Orange County and has received a commitment of $20 million from the county. At the state level, Assemblymembers Sharon Quirk-Silva and Steven Choi recently introduced legislation in support of the cemetery. Billionaire real estate developer Donald Bren has donated at least $100 million to the Space Solar Power Project at Caltech in Pasadena. The purpose of this project is to generate solar power in space and beam it back to earth. Bren, who is owner of the Irvine Company and a lifetime trustee at Caltech, explains that his interest in supporting this effort was driven by his desire to “harness the natural power of the sun for the benefit of everyone.” REALTOR® Lisa Dunn has been the front person for a Facebook group called Deliberately Fair Housing, which received national recognition for its fight against continued discrimination in housing markets. Several years ago, Lisa led a successful REALTOR® effort to acquaint attached condo associations with the need to obtain Federal Housing Authority (FHA) recertification and Veterans Administration (VA) approval so that homes within these associations would be eligible for FHA and VA loans.

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OC REALTOR®

For sixteen years, Lucy Dunn served as president and chief executive officer of the Orange County Business Council (OCBC), a nonprofit that champions area businesses while working to enhance the quality of life for the county’s 3.2 million residents. Lucy believed that, to attract and retain employers, Orange County needed good schools to educate workers, reliable public transportation, a strong arts program, and ample affordable housing. The Building Industry Association of Southern California (BIASC) nominated Lucy for a place in the California Homebuilding Foundation 2022 Hall of Fame, and she was selected. Philip Felgner is the director of UC Irvine’s Vaccine Research and Development Center and Protein Microarray Laboratory and Training Facility. His painstaking research on messenger ribonucleic acid (mRNA) over the past thirty-five years laid the groundwork for Pfizer’s rapid development of an effective COVID-19 vaccine. When Orange County Registrar of Voters Neal Kelley was hired as Orange County’s deputy registrar in 2004, there was plenty of room for improvement, and Kelley set about making the necessary changes. He treated voting like a business transaction, allowed both politicians and the voting public to see how that process worked, and kept politics out of it. By doing so, he earned the respect of local legislators and voters and built a national reputation as one of the best elections officials in the business. After overseeing more than eighty-five elections, Kelley will retire in March. For twenty-two years, Poseidon Water has been pursuing its vision of a drought-proof desalination plant in Huntington Beach. Scott Maloni, the company’s vice president of development, has been leading the charge through a maze of approval hearings before various boards, councils, and commissions. Maloni recently announced that he has signed an agreement with the Orange County Power Authority recognizing a goal of 100 percent clean energy for the power needs of this plant, which, when fully operational, will supply 50 million gallons of water daily, enough drinking water for 400,000 people. The Huntington Beach Desalination Project is scheduled for a hearing before the California Coastal Commission in mid-May.

NAMES IN THE NEWS California Assemblymember Janet Nguyen, who represents Assembly District 72, was mentioned by Orange County Register readers because she had been instrumental in helping them cut through the red tape at the Employment Development Department (EDD). But Nguyen did not stop with helping her constituents. Instead, she has made fixing the fundamental problems that plague the EDD a top legislative priority. The Los Angeles Angels superstar pitcher Shohei Ohtani struck out 156 batters in 130 1/2 innings, delivered 46 home runs, was the unanimous choice as the American League’s Most Valuable Player, and was given the Commissioner’s Historic Achievement Award for what he accomplished both at the plate and on the mound. Presented at the Commissioner’s sole discretion, this prestigious award has been handed out only sixteen times since it was established in 1988. Names in the News is intended to be primarily a place where REALTOR® and Affiliate members of Orange County REALTORS® can share both personal and professional news—about births (of children or grandchildren), graduations, weddings, anniversaries, accomplishments, awards, and other milestones—with one another. If you have news to share, email it to Orange County REALTORS® Writer and Editor Sherri Butterfield at Sherri@ocrealtors.org.

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LEADERSHIP ACADEMY

WHERE ARE THEY NOW? By Sabrina Blair DIRECTOR OF COMMUNICATIONS AND PROGRAMS The Orange County REALTORS® Leadership Academy was launched in 2016 in large part because 2015 President Rita Tayenaka and other Directors saw a need for new blood in leadership roles at the Association level and decided to form an academy to train, grow, and nurture leaders. Now in its fifth year, the Leadership Academy has seventy-eight graduates. This ongoing column will spotlight the achievements of Leadership Academy Alumni and provide a glimpse into what the Academy can do for members. To learn more about the Leadership Academy or to apply for the next class, visit www.ocrealtors.org/la.

What spurred you to apply for the Leadership Academy?

I was getting more involved with organizations, and I knew that participating in this program would provide me with insight regarding how to make myself successful. Plus, you can’t say no to Rita Tayenaka!

Where has your leadership journey taken you since graduation? What leadership roles have you obtained?

When I was going through Leadership Academy, I was on the Aliso Viejo Chamber of Commerce Board of Directors and was the ambassador chair. I was asked to be president of the Chamber in 2018 and gladly accepted because of the confidence that the Academy had given me. I have since joined the board for the Saddleback Medical Center Foundation and am serving as its secretary. I am still the events chair for the Aliso Viejo Community Association, provide support to the Marine Corps 1st Maintenance Battalion that the City of Aliso Viejo adopted, and am on the planning committee for the Getzlaf Golf Shootout that raises money for Cure Duchenne.

What advice or words of encouragement would you give to someone who is considering applying for the Academy?

I learned so much from all the classes in the Academy and met some wonderful people in my class. I would strongly encourage anyone who is wanting to be involved and make a difference to apply to the Academy. I promise you will learn so much!

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OC REALTOR®

Photos: www.istockphot.com/olm26250

L E A D E R S H I P AC A D E MY A LU M N I :

LEADERSHIP ACADEMY

What was the biggest thing you gained from participating in the Academy?

I have always been terrified of speaking in front of groups, both large and small. After attending the Academy, I found that I could get up in front of a crowd of people and not be so intimidated by them. I had more confidence in myself and was willing to get out there and do more.

Where has your leadership journey taken you since graduation? What leadership roles have you obtained? After graduation, I decided to get involved with the Veterans Association of Real Estate Professionals. Not long after becoming a member at large, I was invited to serve on the board of directors as treasurer. After four years in that position, I turned in my resignation as treasurer to take a role on the Fundraising Committee, which I feel is where my strength is. I was also elected to the Orange County REALTORS® Board of Directors in 2021.

What advice or words of encouragement would you give to someone considering applying for the Academy?

I would like to encourage anyone thinking about applying to the Academy to do it. You will learn so much about yourself and about how to be a good team player. The speakers are wonderful, and having an opportunity to go to Sacramento for Legislative Day was amazing. You will find that it is totally worth your time. It is truly the best benefit we receive from being a member of Orange County REALTORS®. You will not be disappointed.

What spurred you to apply for the Leadership Academy?

I was encouraged by other leaders in Orange County REALTORS® and by the staff. I always had the strong desire to be a leader so I could help others sharpen their leadership skills and enable them to thrive in their careers. And I heard that leaders were not born; they are made. Joining the Academy was an opportunity for me to gain more wisdom and improve my self-confidence.

Have you always been a natural leader or interested in leadership roles?

Most definitely I have always been interested in leadership roles. I had the will, but I was lacking the skills, the vision of where to go, and the knowledge of how to communicate and how best to influence the people around me.

Where has your leadership journey taken you since graduation? What leadership roles have you obtained?

I have had the opportunity to be the chapter president for NAHREP Orange County, co-founder of REAL Estate Pros Without Borders, a founding board member for FIABCI-USA SoCal Council, chaired the Global Business Alliance Committee at Orange County REALTORS®, served as a ® Director at Orange County REALTORS , connected with renowned leaders all over the world, and joined several committees at both Orange County REALTORS® and the California Association of REALTORS®.

OC REALTOR®

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LEADERSHIP ACADEMY

What spurred you to apply for the Leadership Academy?

The first committee I joined was Local Government Relations North. As a committee member, I was invited to numerous public events with a variety of other Orange County REALTORS® members and leaders. I saw the reputation OCR had built in the business and political community and was inspired. I wanted to advance my way through this organization. As soon as I heard about the Leadership Academy, I knew I wanted to be a part of it.

What was the biggest thing you gained from participating in the Academy?

The Leadership Academy really taught me the nuts and bolts of how an organization runs. Prior to this, my leadership experience had been focused on leading small teams. Gaining an understanding and insight into how large organizations operate, particularly OCR, was invaluable.

Where has your leadership journey taken you since graduation? What leadership roles have you obtained?

Since graduating from the Leadership Academy, I have been the chair of the Local Government Relations North Committee. I am a trustee for the Political Affairs and Elections Committee. I have been elected to the Orange County REALTORS® Board of Directors. I am also a Director at the California Association of REALTORS®, vice chair of the Legal Affairs Forum for C.A.R., and the key contact for C.A.R. to Assemblymember Cottie Petrie-Norris. I was also elected student bar association president of my law school last year. The experience I gained from serving on committees and the OCR Board made me a better leader in an organization outside REALTOR® associations. Prior to this, I had minimal roles in the organizations of which I was a member. The leadership positions I hold today are a direct result of my experience at the Leadership Academy.

W H AT G R A D UAT E S S AY A B O U T T H E L E A D E R S H I P AC A D E MY “I promise you will learn so much!” —Heidi Stoops “It is truly the best benefit we receive from being a member of Orange County R E A LTO R S ® .” — Ly n n e S u z a n s k i

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OC REALTOR®

“J o i n i n g t h e A c a d e m y w a s an opportunity for me to gain more wisdom and i m p r ov e m y s e l f - c o n f i d e n c e .” —Ya m i M a r t i n e z “The leadership positions I hold today are a direct result of my experience at t h e L e a d e r s h i p A c a d e m y.” —Matt Cortez

MASTERMIND PRESIDENTS PANEL

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OC REALTOR®

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COVER STORY

What Home Buyers Want—

By Generation! By Michelle McCann MARKETING AND PROGRAMS MANAGER From Boomers to Gen Z, each generation has its dream home! Preferences like smart technology, state-of-the-art kitchens, and outdoor living spaces are reflections of age, personality characteristics, and lifestyle differences. There are some home features that all buyers find attractive, such as natural light, but each generation defines its own “must-haves” in a new home. To effectively market to and work with buyers at various stages in life, real estate professionals should be asking themselves: What does each generation want in a home? Here are a few of the most-wanted newhome features broken down by generation.

What Generation Z (1997–2012) Home Buyers Want New to this year’s National Association of REALTORS® (NAR) Home Buyer and Seller Generational Trends Report is the share of Generation Z buyers. While the share is only 2 percent for both buyers and sellers, the oldest members of the Gen Z are turning twenty-five this year and are transitioning from renters to homeowners. They are the next generation to enter the housing market, and they have their own ideas about what amenities they want in a new home.

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OC REALTOR®

“Preferences like smart

technology, state-of-the-art kitchens, and outdoor living spaces are reflections of age, personality characteristics, and lifestyle differences.” Homes.com conducted a survey of more than one thousand Gen-Zers during the pandemic and discovered that outdoor space and open interior design were at the top of their list of desired home features. They envision their outdoor living space to include amenities for entertaining like patios, firepits, and decks. This makes sense considering that the pandemic has made outdoor activities a necessity for social engagement. This digital generation seems to be valuing space to unplug and connect with community. It isn’t a surprise, then, that smart technology was a less popular home feature to Gen Z buyers with only 17 percent of those surveyed listing it as a top priority. While members of Gen Z have their own needs and preferences when it comes to home purchasing, they are still considered the buyers of tomorrow. However, they are influencing the buyers of today—Millennials. Both generations are environmentally conscious and concerned about climate change; but more than ever, eco-minded members of Generation Z are interested in reducing their carbon footprint and looking for eco-friendly design, sustainable materials, and energy-saving technologies. Members of Generation Z are important to the green home future because they continue to skirt the preferences of generations past and to embrace new desires in green home features.

Photos: www.istockphot.com/ewg3d

Photos: www.istockphot.com/ewg3D

Photos: www.istockphot.com/hikesterson

Photos: www.istockphot.com/Kristin Utzinger

Photos: www.istockphot.com/phototropic

COVER STORY

OC REALTOR®

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COVER STORY

“Millennials may not be

the youngest age range of home buyers, but they are the majority of first-time homeowners.” What Millennial (1981–1996) Home Buyers Want According to NAR’s 2021 Generational Trends Report, Millennial buyers make up the largest share of home buyers at 37 percent. Millennials may not be the youngest age range of home buyers, but they are the majority of first-time homeowners. So what makes this large group of home buyers different from other generations? They are the generation that does not place an oversized kitchen near the top of the list of coveted home features. But this makes sense because, according to a 2021 Cinch Home Services survey where more than one thousand people were asked about their kitchen habits, Millennials were the generation that cooks the least meals. They were also the most likely to order takeout or delivery both before and during the pandemic. Despite the fact that cooking is not a main concern for many Millennials, they still want their homes to come with the high-functioning amenities of a modern kitchen. They place the utmost value on smart features. Millennials are the first generation to grow up with technology and smart phones, and they have little patience with things that are overly complicated or outdated. They want homes with automated lights and temperature control, smart appliances, smart entertainment, and smart locks. According to a 2021 Cox survey titled A New Generation of Homebodies, 18 percent of Baby Boomers made a smart home tech purchase because of COVID-19, compared with 49 percent of Millennials. They not only appreciate smart technology, they expect it!

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What Generation X (1965–1980) Home Buyers Want NAR reports that buyers aged 41 to 55 (Gen-Xers) constituted 24 percent of home buyers in 2021. Members of this group continue to be the highest-earning home buyers with a median income of $113,300 in 2019. Gen-Xers tend to be in the most financially secure part of their lives and are therefore more interested in luxury, high-end materials, and space for their children or aging parents. They work from home at least part of the time, and home office spaces are on their list of “must-haves.” Flexibility and versatility are a top priority for this age group. They want their spaces to function as offices, virtual school zones, play areas, private nooks, and spots where family can gather, like the modern kitchens they desire. Because members of Generation X tend to want versatility in their homes and have children and aging parents that may live together, space has a huge appeal to them. They want large homes, large closets, large garages, and ample storage. The more space and the more workable the design, the better.

What Baby Boomer (1955–1964) Home Buyers Want Officially retired from the workforce or planning their retirements, many Baby Boomers are considering home features that will accommodate their new lifestyle or changing physical needs. Baby Boomers list single-story homes or homes with primary bedrooms on the main floor as a top priority in a new home. They no longer want to go up and down stairs or take care of the sprawling two-story homes they needed while raising children. Low-maintenance yards or no yards at all were also seen as an attractive feature in a new home. Although Baby Boomers are more active than any aging generation before them, large yards and backyards that demand a great deal of upkeep seem to be an amenity of the past.

“Because members of

Generation X tend to want versatility in their homes and have children and aging parents that may live together, space has a huge appeal to them.”

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COVER STORY

Generation

Cheat Sheet: What Each Generation Wants in a REALTOR®

By Michelle McCann MARKETING AND PROGRAMS MANAGER Every generation plays a role in the real estate market, and each generation’s attitude toward the real estate process differs from those of previous generations. It is vital to know the best way to communicate and create relationships with each group of home buyers. Gen-Zers, Millennials, Gen-Xers, and Baby Boomers are the primary age groups in today’s real estate market. The more you learn about their preferences, the easier it will be to help them buy homes and, perhaps, become your repeat clients.

Generation Z (1997 – 2012)

Millennial (1981 – 1996)

Are self-educated regarding the real estate process and will put faith in internet searches

Will question the value of using a REALTOR®

Are looking more at your social media presence than at your Facebook page Will be impressed if your social media extend to new channels like Snapchat and TikTok Expect virtual tours and listing videos, but catchy music and filters will engage them with your content Want to be shown instead of told and will appreciate learning about the home-buying process from social media posts about preapproval, first-time home-buyer tip videos on your website, “how-to” videos on YouTube, and the like Are willing to use different apps for communication and may prefer one over another

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Are more likely to take over roles once considered the sole duty of a REALTOR®, like deciding on which properties to see or determining the listing price of their home Want immediate gratification and expect their REALTOR® to be accessible and responsive 24/7 Are looking for accessible information and a website that provides everything they need easily and quickly Expect high-quality video tours and livestream capacities Also appreciate transaction steps that are done quickly, with the best tech tools and without technical issues or problems Prefer to communicate by texting

Generation X (1965 – 1980)

Baby Boomer (1955 – 1964)

Often have children, are concerned about school district quality, and expect a REALTOR® to have information about the schools in each neighborhood

Have experience in the home-buying process because they have bought and sold several times

Want detailed information about properties and are more likely to read the entire description of a home

Look for REALTORS® to give them stats and market updates rather than using the internet to obtain this information

Do not usually have flexible schedules and prefer to work traditional 8:00-to-5:00 hours and use weekends or evenings for viewing properties

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Prefer a phone call or an in-person meeting Painting a word picture of a home will appeal to them more than a generic listing description

Expect first-class customer service from a REALTOR® Don’t mind paper transactions and may distrust technology

Email is part of their daily work life, so it may be their preferred means of communication

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COVER STORY

Because of the lack of inventory, many would-be home buyers cannot find anything to purchase!

Now, I know what you’re thinking. Mobile homes! The answer for what? Well, hear me out before you jump to any judgments. Because of the strain on housing inventory across Orange County and throughout the country, many would-be home buyers are finding themselves with very few options. By the time they see a listing and step through the front door, the house either has a slew of over-the-top offers on it or is already in escrow. How are these buyers supposed to realize their dream of homeownership if there aren’t enough homes to go around? They might need to think outside the box and consider a mobile home. According to an article written by Andrew Keel, chief executive officer at Keel Team Mobile Home Park Investments, which appeared in the September 2021 issue of Forbes, there is a new movement among investors who are looking to purchase and revamp mobile home parks in the hope of luring a new buyer demographic. Keel says that many mom-and-pop owners of these mobile home parks “didn’t raise lot rents enough to keep up with inflation” which “restricted them from being able to afford the upkeep needed to maintain these communities at a high level.” For this reason, many mobile home parks have been neglected and are therefore viewed as being unattractive to home buyers. But that can change!

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There already is a big movement of buying fixeruppers courtesy of TV personalities like Chip and Joanna Gaines from Fixer Upper and Tarek El Moussa and Christina Haack from the Orange County–based Flip or Flop. That same energy and excitement of breathing new life into something old and ignored can be directed at the mobile home inventory. Why does a mobile home park have to carry a negative connotation? Many Millennials and Gen-Zers are favoring the simple life in tiny houses or even “van life,” so why couldn’t a mobile home be another creative solution? Jason Dorsey with The Center for Generational Kinetics believes that “Millennials are taking a new interest in mobile homes because it fits their remote or hybrid work lifestyle as well as potentially giving them more options for green space and flexibility of geography.”

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By Sabrina Blair DIRECTOR OF COMMUNICATIONS AND PROGRAMS

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COVER STORY

Similarly, many Baby Boomers are looking to downsize and cut back on expenses as they transition into retirement with fixed incomes. Retirees can make mobile home living something to admire with a few coats of paint and some imagination. A realtor.com article states that “mobile homes are a fraction of the price, costing about $190,000 less than single-family homes.” In addition, the median value has appreciated 39 percent from 2014 to 2019, which is “6 percentage points higher than the median appreciation of single-family homes.” Now, you can wait around for your neighborhood mobile home park to be bought by an investor looking to spruce it up or you could get in on the ground floor by starting your own mobile home revamp movement and buying one today!

That same energy and “excitement of breathing new life into something old and ignored can be directed at the mobile home inventory.

”

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THE ORANGE COUNTY HOUSING UPDATE

The two opposing economic forces impacting the housing market right now are rising mortgage rates and a catastrophically low supply of homes available to purchase. By Steven Thomas REPORTSONHOUSING.COM Steven Thomas has a degree in quantitative economics and decision sciences from the University of California, San Diego, and more than twenty years of experience in real estate. His bimonthly Orange County Housing Report is available by subscription and provides housing market analysis that is easy to understand and useful in setting the expectations of both buyers and sellers. His website is www.ReportsOnHousing.com.

The supply chain problems have been well documented across the United States and around the globe. One of the hardest-hit industries is new cars. The supply of available new cars has dwindled to record lows. As a result, dealers are adding a “market adjustment fee,” a line-item cost above the manufacturer’s suggested retail price (MSRP). This fee adds anywhere from a few thousand dollars to as much as $20,000 or more for a popular model. It has everything to do with supply and demand. Consumers looking for a new car are confronted with very few options and rising car prices. To get their hands on one, many are willing to pay the surcharge. Housing feels as if it, too, is suffering from the supply chain problem with seemingly nothing available to purchase. At the beginning of last year, the inventory in Orange County was at an all-time low with 2,633 available homes. It hit 2,214 on June 10, rose and peaked in June, and then continued to plunge until only 954 homes were on the market on January 1 of this year. At the start of February, there were 1,270 homes, meaning that only 316 homes had been added during the first month of the year. The difference between this year and last year’s record low is striking. There were 1,223 fewer homes at the start of February, 49 percent less. Every price range has been similarly impacted (see Figure 1). 28

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Comparing the start of February with the three-year average between 2017 and 2019, prior to the pandemic, is mindblowing. There are 3,579 fewer homes available, an impressive 74 percent less. That means there were nearly four times as many homes on the market prior to COVID-19. There are far fewer homes in every price range this year, especially priced below $750,000. For homes costing less than $500,000, there are 164 compared to the three-year average of 819, a remarkable 80 percent drop. Between $500,000 and $750,000, there are 156 homes today compared to 1,170, an unbelievable 87 percent fewer.

“Since the beginning of

the New Year, mortgage rates have been steadily climbing, eroding home affordability.”

THE ORANGE COUNTY HOUSING UPDATE

The inventory was already trending lower before the pandemic, but the pandemic exacerbated the problem as fewer homes were placed on the market despite soaring demand. In 2020 and 2021 combined, there were 5,142 fewer For Sale signs compared with the average number between 2017 and 2019, 7 percent less.

Figure 1. Inventory Comparison. The difference between this year and last year’s record-low inventory is striking. Overall, there were 1,223 fewer homes at the start of February—that is 49 percent less—but every price range has been similarly impacted.

Figure 2. Freddie Mac’s Primary Mortgage Market Survey®. When the Federal Reserve went from calling inflation transitory and doing nothing about it to acknowledging that it was an issue and saying that it was going to do everything in its power to break inflation’s grip on the economy, the markets reacted, and rates rose by half a percent in four weeks.

Since the beginning of the New Year, mortgage rates have been steadily climbing, eroding home affordability. According to Freddie Mac’s Primary Mortgage Market Survey®, rates have risen from 3.05 percent on December 23 to 3.55 percent as of February 3, up a half of a percent in a little over a month. Many market watchers are speculating that even higher rates are coming. Throw in a volatile stock market, and many are beginning to wonder if these changes are just the beginning of the end to the pandemic run on the housing market. First, it is best to explain why mortgage rates have been moving higher. Investors and Wall Street had already digested the fact that the Federal Reserve was tapering its purchases of MortgageBacked Securities and was going to be raising the Short-Term Federal Funds Rate (tied to automobile loans and credit card debt and not to 30-year mortgages) starting this March. In addition, the Fed announced that it was going to be draining its balance sheets. That was unexpected. The Federal Reserve went from calling inflation transitory, or temporary, and doing nothing about it a few months ago to acknowledging that inflation was an issue and saying that it was going to do everything in its power to break inflation’s grip on the economy. It was as if the Fed realized that it had been behind the eight ball and decided to engage in a “hurryup offense” to make up for lost time. The markets reacted, and rates rose by half a percent in four weeks (see Figure 2).

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THE ORANGE COUNTY HOUSING UPDATE

There is an impact to rising rates. The rise from 3.05 percent to 3.55 percent is an additional $248 per month for a $900,000 mortgage, or $2,979 per year. However, with such a limited supply of available homes, the impact is not being felt on the street. Today’s rate may be the highest since the start of the pandemic, but it is still a really great rate. The extra $248 per month is more of a “market adjustment fee” for housing that is easily absorbed because of the extremely limited number of homes available. Homes are still flying off the market as fast as they are coming on. Throngs of buyers are waiting in lines for the opportunity to see a home that is placed on the market. Multiple offers are the norm. After receiving ten, twenty, or thirty offers on a home, sellers are calling all the shots, sales prices exceed asking prices, and home values continue to rise rapidly.

“Wall Street and investors

have digested future Federal Reserve moves, and rates most likely will not rise much more from here. Rates would need to climb to 4 percent or higher to slow housing.” 30

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Why has the rise in rates not yet affected the housing market? The answer is simple: rates have not climbed high enough to slow demand. Mortgage rates climbed considerably in both 2013 and 2018, which caused a shift in the market. Demand cooled, the inventory increased, market times grew, and the market slowed from a Hot Seller’s Market to a much more balanced market. In 2013, rates rose from 3.34 percent to 4.57 percent; and in 2018, they rose from 3.99 percent to 4.94 percent. The recent runup in rates is much smaller. If they continue to climb, then the market could cool. But, for now, Wall Street and investors have digested future Federal Reserve moves, and rates most likely will not rise much more from here. Rates would need to climb to 4 percent or higher to slow housing. At 4 percent, the difference in payment for that same $900,000 mortgage example would be $478 more per month, or $5,739 per year. At 4.25 percent, it would be $608 per month, or $7,299 per year. The recent rise in mortgage rates had no real impact on the current pace of housing. It will be important to watch how mortgage rates unfold in the weeks and months to come. Until rates rise substantially, it is business as usual, an insanely hot housing market in Orange County.

with Gov Hutchinson

Gov Hutchinson

The C.A.R. vice president and assistant general counsel describes some of the laws that will affect REALTORS® and real estate practice in 2022.

By Sherri Butterfield WRITER AND EDITOR In late January, Ed Molina, chair of the Risk Management Committee, welcomed Gov Hutchinson, vice president and general counsel at the California Association of REALTORS® (C.A.R.), who described some of the laws that will take effect in 2022 and the ways in which these laws are likely to affect REALTORS® and the practice of real estate. Below is a condensed version of Gov’s presentation.

Cal/OSHA. Separate from that rule are the rules imposed by the California Division of Occupational Safety and Health (Cal/ OSHA). Cal/OSHA regulates the behavior and practice in offices. Your real estate office is an office. Cal/OSHA mask-wearing rules apply to independent contractors as well as to employees. Employers must supply masks to all employees who request them.

If someone who works in your office tests positive The first of the year is a perfect time to discuss new laws because that’s when the new laws take effect and when the new forms come out. In discussions of this type, I always take a conservative approach. The advice I will give here is general. If you have questions about a specific situation, I recommend that you either call the C.A.R. Legal Hotline or consult a real estate attorney whose specialty applies in the instance or to the case involved.

COVID-19

The information provided here was current as of January 14, but the COVID rules keep changing. Watch the C.A.R. website (www.car.org) for news and updates or consult the Member Legal Hotline (213-739-8282). Indoor mask-wearing. The indoor mask-wearing rule that was scheduled to expire on January 15 was extended until February 15. When you are out and about in any indoor public setting, you are supposed to wear a mask, regardless of your vaccination status. For real estate, that means during showings and open houses.

Figure out who might have been in the office when that person was in the office and notify them of the potential exposure. Employees who test positive cannot come to work for at least ten days or until their fever has subsided and their symptoms are improving. Employees in the office who did not test positive but were in contact with the employee who did test positive may come to work if they have been vaccinated but must wear a mask and practice social distancing for at least fourteen days.

of the year is a perfect “timeTheto first discuss new laws because

that’s when the new laws take effect and when the new forms come out.

”

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RISK MANAGEMENT

RISK MANAGEMENT Update: On February 16, California lifted the requirement for fully vaccinated people to wear face masks to all indoor public areas; however, the state allows local health authorities to impose stricter rules if they believe these are needed. Public health authorities in several large counties opted to do so while infection rates remained high. And there are still settings and situations—such as on airplanes, in buses, and at school—where federal or state regulations call for masks. California considers someone to be “fully vaccinated” for COVID-19 two weeks or more after receiving the second Pfizer or Moderna injection or a single Johnson & Johnson injection. State health officials continue to recommend that even fully vaccinated people wear masks in situations where the risk of exposure is high. In general, offices and workplaces will continue to follow Cal/OSHA guidelines.

Evictions “No-fault.” The state Eviction Moratorium ended at the end of September. In Orange County, the good news is that you do not have to worry about a local eviction moratorium. If you want to evict someone, you don’t need a reason. If you want to sell the house, you can evict the tenant. Of course, there is California rent control. If you have an apartment that is older than fifteen years, some limitations apply. But when you are evicting someone from a single-family home or an apartment building that is less than fifteen years old, there are no more restrictions on “no-fault” evictions. Nonpayment of Rent. What’s still not back to normal is evicting someone for nonpayment of rent. You can evict a tenant for nonpayment of rent whether they have a COVID reason or not, but you cannot give them the regular notice to pay rent or quit. Instead, you must give them the special three-day notice, at least until the end of March. This notice tells the tenant that the landlord cannot evict the tenant for nonpayment of rent unless the landlord first applies for rental assistance. If you receive money from the government to cover the rent that the tenant owes you, you cannot evict the tenant (Assembly Bill 832). If, for some reason, a tenant owes you money from prior to October 1, 2021, and you want to evict that tenant, remember that the tenant only had to pay you 25 percent of what was owed. For this eviction, you must use the fifteen-day Pay Rent or Quit Form, which includes a declaration of distress. If the tenants return the form, they are still required to pay only 25 percent. A lot of you have clients who are landlords. What I have said is complicated. You probably should not be the person who is advising these clients regarding their rights and the forms they are supposed to use. Instead, if they have questions, tell them to talk to their own attorney. If you are a landlord or a property manager, you can call the C.A.R. Legal Hotline, and we will walk you through it.

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Rent Increases for Existing Tenants. In a city with rent control, you can only raise the rent by the amount that the city allows. Under California rent control, if the apartment building you are renting out is older than fifteen years, you can raise the rent 5 percent plus inflation. The inflation rate for this year is 8.6 percent. For next year, it is 10 percent.

New Laws that Affect REALTORS® Directly The Governor signed 836 laws this year; 29 of these laws directly affect real estate. We have a handout called 2022 New Laws on our website (https://www.car.org/legal/ Recent-Legal- Developments/2022-New-Laws) that describes all 29. By the way, the mold law is not in there because we received it too late. And the COVID stuff is not in there either. Use of Last Name on Marketing Materials. If you had one last name when you obtained your real estate license and then changed that last name because of a subsequent marriage, divorce, or other circumstance, you can use either your previous last name or your new last name on your marketing materials. Use of a former surname does not constitute use of a fictitious name (Assembly Bill 44). Implicit Bias Course. After January 2023, the next time you renew your license, you will need to take a new two-hour implicit bias training course. It will help you recognize your own biases and provide you with additional information about fair housing (Senate Bill 263). Appraisal Discrimination Notice. Come July, there will be a new form attached to the Purchase Contract called the Appraisal Discrimination Notice, which you will deliver to both the buyer and the seller telling them that discrimination is wrong and where to file a complaint if they believe that they received a low appraisal because of discrimination (Assembly Bill 948). Restrictive Covenants Against the Property in CC&Rs. In my experience, most REALTORS® do not know—and you are not required to know—that there are restrictive covenants; however, if you are aware that there is an unlawful restrictive covenant attached to the deed for a piece of property, the law now says that you must tell your client that it exists and that there is a streamlined process you can follow at the County Recorder’s office to have it removed. For this purpose, we have created a sample letter that you can give to your clients telling them about their rights with regard to restrictive covenants (Assembly Bill 1466).

you are evicting someone “fromWhen a single-family home or an

apartment building that is less than fifteen years old, there are no more restrictions on ‘no-fault’ evictions.

”

RISK MANAGEMENT

Photo by Marion Butterfield

Ed Molina

Fire Hazard Zones: Home Hardening and Defensible Space. Every property in California is either not in a fire zone, in a moderate fire zone, in a high fire zone, or in a very high fire zone. If your property is in either a high or a very high fire zone, you must make certain that the buyer receives a copy of the Fire Hardening and Defensible Space Form. This form includes six questions the seller must answer about the property, for example, if it has a wood roof, if it has combustible landscaping within five feet of the house, if it has single-pane windows, or if the rain gutters are equipped with noncombustible gutter cups. The seller is not required to upgrade the house but is required to disclose its fire vulnerability to a potential buyer. C.A.R.'s new form Home Fire Hardening Disclosure and Advisory (HHDA) may be used to comply with this disclosure requirement. Your job is to figure out if the form is required. It’s the sellers’ job to fill out the form, and sellers need disclose only what they are aware of (Senate Bill 63 and Assembly Bill 9). Mold. You must give new tenants in residential property a copy of the mold information booklet so C.A.R. has attached this booklet to the Residential Lease Form. Proposition 19 (Statewide Tax Basis Portability). Proposition 19 says two things: if you are at least 55 years old or disabled, you can move three times and take your property tax basis with you anywhere in the state. And if the new property you purchase is more expensive, you are still entitled to receive a property tax benefit. Recent clean-up legislation has clarified some of the provisions of Proposition 19. For example, Senate Bill 539 clarifies the law regarding exemptions from reassessment and provides that the purchase and sale of a homeowner’s principal residence may qualify for Proposition 19 tax savings even if one leg of the transaction took place prior to April 1, 2021.

Home Inspections. A plumber who inspects the lateral sewer line to buildings that are more than fifteen years old was once precluded by law from performing the necessary repair but is now permitted to do so; however, the consumer has the right to seek a second opinion on the sewer lateral inspection (Senate Bill 484). Emotional Support Animals. If you have a no-pet policy and your tenant wants to house a service animal, you are allowed to ask two questions: (1) Are you disabled? (2) What task has this animal been trained to perform? You cannot inquire as to the specific nature of the disability or ask for proof. In general, service animals are dogs. But if your tenant wants to house an emotional support animal, the circumstance is a bit different. Emotional support animals do not have the same rights as trained service dogs. Restaurants and airplanes can turn away emotional support animals. And a new law allows you to ask for documentation. The health-care provider who supplies this documentation can do so only after a clinical evaluation and a determination that the person is disabled and needs the emotional support the animal provides (Assembly Bill 468). HOA Documents. A new law says that a Homeowners’ Association (HOA) must comply with a homeowner’s request that notices required to be delivered individually under the Davis-Sterling Act be delivered via email (Senate Bill 392). This means of delivery makes the process less expensive and reduces the impact on resources and the environment. Substandard Rental Property. If you are a tenant in rental property and you think that the property is substandard—meaning that it does not meet basic habitability standards or you suspect that there is lead paint—and you file a complaint with the city or the county, they cannot just blow you off. They must respond to your complaint (Assembly Bill 838). For the full text of these laws, go to http://leginfo.legislature.ca.gov and search by California legislative branch and bill number.

signed 836 laws “thisTheyear;Governor 29 of these laws directly affect real estate. ” Disclaimer. This presentation was provided for information only and was not intended as a substitute for legal advice. Should you require specific advice, consult an attorney. For answers to follow-up questions, contact your broker, attorney, and/or the C.A.R. Legal Hotline (213-739-8282).

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