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Addressing Housing Challenges Affecting Aging Baby Boomers
As the “Silver Tsunami” sweeps across California and the nation, communities are grappling with a pressing challenge: ensuring that aging baby boomers have access to affordable and suitable housing. By 2030, all baby boomers will be aged 65 or older, creating an unprecedented demand for senior-friendly housing options sooner than later. Yet, for many, the dream of aging in place is slipping out of reach due to financial constraints and an inadequate supply of affordable housing.
Post-Election Housing Market Predictions for 2025
The 2024 presidential election has sparked fresh excitement in the real estate industry, particularly for new home sales. With President Trump’s administration prioritizing housing affordability and regulatory reform, 2025 holds significant potential for homebuyers and builders alike. As we look ahead, new policies could open the door to more opportunities for first-time buyers and families seeking their dream homes. In this blog, we explore the positive outlook for new home sales and the factors driving this momentum.
2025 Housing Market Predictions
According to the California Association of Realtors (C.A.R.), 2025 is looking to be a year of opportunity for the housing market, with home sales and prices expected to rise. Buyers and sellers appear to be returning to the market as lower interest rates and better housing supply conditions increase. For those curious about what next year’s market will look like, California Builder Services is here…
Reserve Study Frequency | How Often Do HOAs Need to Perform Reserve Studies?
Often, managers of Homeowners Associations (HOAs) are hesitant to conduct special assessments, as the money required to perform them may not be recovered, and the frequency of these payments can be unknown. That’s why it’s important to have reserve funds readily available to pay for these repairs and replacements. The question is, how does the HOA board know how much money it needs to set aside?
A Crash Course on Reserve Studies
According to the Foundation for Community Association Research, around 75.5 million people in the United States live in a homeowners association (HOA) community, which is more than 30% of the U.S. housing stock. Reserve studies refers to a vital capital planning tool for Homeowners Associations and condominium associations that provides directional guidance and an in-depth analysis of community assets.
The Effects of Lower Rates on New and Existing Home Sales
The Federal Reserve is hoping to provide some economic relief to Americans through an interest rate cut made in September, as preparation for a potential recession continues. Higher interest rates have stunted the housing market, as home buyers are pulling back due to high borrowing costs and soaring home prices.
ADUs: A Creative Solution to Affordable Housing
ADUs have the potential to increase housing affordability for homeowners and tenants, create a wider range of housing options within a community, and facilitate better use of the existing housing fabric in established neighborhoods.
The NAR Commissions Settlement: What it Means for Home Builders
In March 2024, the National Association of Realtors (NAR) entered into a proposed settlement agreement with various homeowners to resolve a nationwide litigation concerning broker commissions.
California’s Homebuilding Surge: A Promising Outlook
As interest rates begin to subside, developers are ramping up efforts to build new apartments, condos, and single-family homes across the state. In this blog, California Builder Services will break down this increase in construction and its potential implications for builders and future buyers.
Halfway into 2024, what does the home buying market look like right now?
In many parts of the United States, interest rates and home sale prices refuse to go down, signifying a strong start to the sales portion of the 2024 housing market. In June, the average home price was up by four percent compared to 2023, which is the good news for sellers looking to earn top dollar.
Understanding the New HOA Rules in Florida
Did you know Florida is home to nearly 50,000 HOAs, making it the state with the second-highest number of HOAs in the country, behind California? A recent bill signed by Governor Ron DeSantis, effective this July, aims to offer more leniency to homeowners while providing HOAs with clearer guidelines and restrictions.
Effective July 1, DRE Has Increased Their Filing Fees
The California Department of Real Estate (DRE) is implementing new regulations that impact buyers and sellers. These new regulations will implement higher fees, revised mapping regulations, and new building configurations. Real estate professionals and stakeholders—particularly developers—must familiarize themselves with these updates to navigate the evolving regulatory framework and continue providing high-quality services. We’ve created a blog post with helpful information on the updated filing fees and a full analysis of the changes.
How Your HOA Is Affected By Inflation
Aside from the fact that we’re all paying higher prices at the grocery checkout and the gas station, inflation is also impacting organizations like homeowners’
HOA Budget Impacts: What They Don’t Warn You About
Start-up budgets that meet DRE review criteria result in HOA dues that are much higher than you expect them to be. While buyer’s HOA dues
PARKING, PETS, AND POOLS – the three “P’s” of HOA living
As the old saying goes, if you live in an HOA, be prepared for the trio of “parking, pets and pool” problems. Undoubtedly, there is
Mapping With HOA Dues In Mind
As HOA Start-up Budgets are being created, a question we hear often is “can the dues be reduced?” More often than not, the HOA dues
Workers’ Compensation and Community Associations: Safeguard the Future
Community associations operate with unique insurance needs, given their nonprofit status. One pressing question for Homeowner Association’s (HOA) board members often revolves around the necessity
Owners to Tenants: The Shift in America’s Housing Landscape
Not only are homeowners attracted to build-to-rent communities, but developers and builders who specialize in multi-family, active adult, senior housing, and student housing are beginning to dip their toes into BTR communities to diversify their portfolios.
An Update on the Sustainable Insurance Strategy
On December 13, 2023, Insurance Commissioner Ricardo Lara addressed the Assembly Insurance Committee at Pasadena City Hall. During this address, Lara highlighted California’s position at an ‘insurance crossroads’ and an ‘insurance emergency’ for many residents.
Lessons in Accountability: Raven’s Cove Townhomes v. Knuppe Development Co.
In 1981, a homeowner’s association filed a lawsuit against its developer and his employees, who were former directors in control of the association, for strict liability and breach of warranty. This landmark case is known as Raven’s Cove Townhomes, Inc. v. Knuppe Development Co.
