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Phasing in a Market Downturn
When times are good – phasing your marketing program can be a headache. When times are slow, however, Phasing can be a lifesaver! I’ve always
The Importance of Partnerships
We recently had an interesting case that brought real life issues to the forefront of our Reserve Study services. Every single HOA board has at
Completion Bonding & the Approval Process
Any time that the common area improvements will not be completed in a development at the time of the first sale closing, a financial security
Fiduciary Obligations
According to Wikipedia, a fiduciary “is a person who holds a legal or ethical relationship of trust with one or more other parties (person or
RE 618H
In September, a revised RE 618H form was published by the DRE. This revision allows for budget assessment changes in the Public Report. With the
Solar Requirements Impact on Final Public Report
With the new solar requirements coming into effect in 2020, we have confirmed that the DRE will maintain their “hands off” approach to reviewing solar
Check Out Our Phasing Predictor
You have a new project and you’re ready to get going! You’re just not sure the best course of action to take? Many questions may
New Rent Control Bill – For Better or Worse?
If you are a landlord, by now you’ve no doubt heard of Assembly Bill 1482, the Tenant Protection Act of 2019. This Bill was designed
Non-CID Subdivisions – What’s That?
You just completed a draft of your subdivision map and are excited about the future prospects of your project. Suddenly you find out that the
What the H&@% is a Subordination and Do I Need One?
As you all know, when you have a project with an existing Deed of Trust, the Department of Real Estate requires that the existing loan
What Your Lender Needs to Understand About DRE Requirements
The construction loan is recorded and construction is well underway. The DRE process is clicking along, and you just found out you need to negotiate
Structuring Phased Common Area
We often work with our clients to create a successful phasing program, being careful to annex common areas at the right time, allowing us to
Are CC&Rs Required?
One question we are asked from time to time, is whether or not a client should record CC&Rs (Covenants, Conditions & Restrictions) on their project.
Budgeting for Variable Assessments
Not all lots or units are created equal. Sometimes the range of differences is based on square footage, location, or certain amenities like ADUs or
4 x 4ing and other Illegal Subdivision Sales
The Department of Real Estate oversees the marketing and sales of subdivided lands, which is generally defined as developments consisting of five (5) or more
Buying in Bulk
The success of the Costco chain of stores has proven that buying in bulk makes sense to a lot of us. From retail sales to
Deferment of Assessments (for Unimproved Common Area)
When an HOA is created, the assessments are triggered when the first lot or unit is sold. For planning purposes, it’s important to note that
You’ve closed the first sale… What’s next?
After the Final Public Report is issued, and the master documents are disbursed, the DRE file here at CBS is suspended, in case any issues
Balcony Inspections are now part of Condo Conversion filings with DRE
In response to a balcony collapse in Berkley, California in 2015, SB 721 has been passed and signed into law. Effective January 2019, all multi-family
Phasing Predictor Launch
It is that time again. The time of year to hone in on short term goals and personal achievements for the coming year. And, if
How Long Does it Take to obtain a Public Report
This is by far the most-frequent question we encounter in our day-to-day business. And the good news is, that we can usually provide a fairly
Phasing Predictor – Why You Need It
When we ask our clients about their marketing phasing, we tend to get many blank stares or, “well, what is everyone else doing?” There is
When your Public Report needs to be Amended
Final Public Reports that are issued to a Subdivision are subject to maintaining an accurate representation of the property. Sometimes what sparks the need for
Keeping an eye on your Bond Exposure
Part of the mapping and development process in conjunction with the Public Report filing process may involve bonding for various items along the way. There
Deferment of Assessments
When an HOA is created, the dues start in any phase when the first lot or unit is sold. For planning purposes, it’s important to
HOA Financing
Does your HOA common area need to be rejuvenated, but your bank account doesn’t allow for much more than a new paint job? Well, the
DRE Due-Diligence Matters
We often get calls from clients considering a purchase of a “broken” project, who are in the due diligence period on a project. In this
E-FILING becomes a reality in 2018
E-FILING becomes a reality in 2018 Electronic filings have been discussed for the past five years, and some thought it might never happen. Alas, it
Processing Delays at DRE on the Horizon
It’s official – the Department of Real Estate is back! The former Bureau of Real Estate has regained independence and is back to operating as an
The Benefits to Living in A Common Interest Development
A well-run Homeowners Association (HOA) can lead to an increase in property value and heightened satisfaction from owners and can considerably enhance your home ownership
Why It’s Good To Be A Home Builder In California
It’s a great time to be a homebuilder in California. Not only is our state a gorgeous place to live, but it’s a state very
The Californian Drought and Real Estate Issues
One of the first questions we get asked when meeting someone is, “Which Projects have you worked on?” Most recently, the second question is almost
How Much Is Your Marketing Plan Costing You?
Here’s the scenario: you’re creating a 50-lot gated community where the monthly dues will be $100 per lot. Here’s the problem: Once you begin selling
California Introduces More Bills to End the Housing Crisis
The Bills Are Coming The state has been working on several bills to overcome the housing crisis, and one of the most discussed and disputed
Hostages To The HOA Board
Building dream homes in a planned development is a smooth and uninterrupted process for most of our clients. It’s a fairly simple process despite a
California Measure May Help Seniors Sell Their Homes
California passed the famous Proposition 13 more than forty years ago to rein in exorbitant property taxes. From the taxation perspective, the initiative also made
Balcony Inspections for Multi-Family Buildings
The balcony collapse at U. C., Berkeley in 2015, killing six people, was caused by a series of preventable failures. The balcony was poorly designed,
You WANT a Public Report
Although the State of California Business and Professions Code 11010.4 releases developers from the Public Report requirements if all criteria are met, a Public Report
Rent Control vs Public Report
A vote in November could provide a major change for the current California rent control laws and the housing crisis. Although the specifics aren’t completely
635A Application
When you need to get somewhere fast… use the Hennessy Venom F5. When you need to amend a public report fast… use the 635A. Public
Cost Centers
When a common-interest subdivision includes common facilities or services that are provided to a limited number of lots or units as a special benefit available
Reserve Studies Are Important For New Developments
When a new development is being marketed at startup, the initial HOA operating budget is created based on estimates and projections – the improvements are
Subsidy Agreement vs. Maintenance Agreement
In large developments, phasing the sale outs is inevitable, to avoid exposure to HOA assessments. Most likely, the first few phases will have the majority
How Much are Your Phases Costing You?
Planning and implementing your marketing budget is crucial to the success of your business. Defining your financial projections, determining expected capital expenditures, and understanding current
BRE is going back to DRE!
When the California Department of Real Estate (DRE) became the California Bureau of Real Estate (BRE) in 2013, it was a whopper of a
How Do You Know if You Need a Public Report?
Everyone knows that subdivisions located in the city limits, with no homeowners associations or common areas, where the developer is selling only completed homes, are exempt from the public report process. The important thing to note, is that they are NOT entirely exempt from Bureau of Real Estate (BRE) jurisdiction. What exactly does the BRE have jurisdiction over in this type of development?
Limited Term Public Reports
Many of our clients are wary about turning over control of the project entry to the HOA too early in the project’s sale-out phase. Once an improvement is owned by the HOA, it is their responsibility to maintain it, and the Subdivider often prefers to maintain it at a higher level than the HOA would.
10 Reasons You Might Be A Subdivider
Many of our clients are wary about turning over control of the project entry to the HOA too early in the project’s sale-out phase. Once an improvement is owned by the HOA, it is their responsibility to maintain it, and the Subdivider often prefers to maintain it at a higher level than the HOA would.
