Chic vs. Geek: Homeowner’s Title Insurance

When you buy a home, Santa Clara County and most jurisdictions require you to purchase an insurance policy on your title, aka homeowner’s title insurance. While it may seem like an additional burden, you never know when you’re going to need it, and it’s important to know what it covers — and what it doesn’t!

CHIC (PEARL)

Even after your real estate company conducts a title search and explores all the publicly available details about a property, there is still a risk that new problems will arise. Title insurance can provide you with security against things like ownership claims from other parties including undisclosed heirs, flawed public records, false signatures on documents, including fraud and forgery, outstanding liens and lawsuits, judgments or encumbrances, and unrecorded easements or other restrictive covenants that reduce a property’s value.

GEEK (KEVIN)

As you can see from Pearl’s take, title insurance covers a lot, but it isn’t cheap, so it’s good to know where it comes up short. You won’t get any protection against infestations from termites and other pests, mold and mildew, fire or weather damage, underground fuel tanks (this comes up more often than you’d think), or any issues not caused by the previous homeowners. Depending on your location and the insurer, fire and storm coverage may be included in your homeowner’s insurance policy or offered as an add-on.

Chic vs. Geek: Thinking of adding an ADU?

Accessory dwelling units, aka ADUs, come in a variety of shapes and sizes, but adding one to your property may not be the right fit. It’s important to know the ins and outs and plan ahead. We’re here to help!

CHIC (PEARL)

ADUs can provide housing for aging family members, an affordable option for teachers and others in the “missing middle,” and a reliable source of additional income for you and your household. As we experience a boon in the ADU market thanks to loosened regulations, there’s a variety of vendors out there. It can be hard to know where to start. I recommend you figure out what kind of ADU you need first. Function should come before form in this case, given the investment of time and resources you’re about to make.

GEEK (KEVIN)

The key to adding an ADU on your property is making sure the project pencils out. That means keeping costs down without sacrificing a quality product that will stand the test of time. You can find a lot of savings on the front end of the process when choosing an architect, designer, and/or builder. Doing a little research to find vendors with strong track records will pay dividends later when you get the project done right the first time. The best contractors also know their way around local government permits!

Chic vs. Geek: Taking Advantage of SB9

More and more, we have many clients with an interest in splitting their lot to take advantage of new state law to build a second home they can rent out. How can you use SB9 to your benefit?

CHIC (PEARL)

Senate Bill 9 was signed by the governor last year to streamline the creation of new housing units in traditionally single family neighborhoods to combat our housing crisis. But while some cities and communities have resisted the change, others like San José have embraced the new law and updated their local rules to reflect it. That means an opportunity for a savvy homeowner with a little money to invest. Here’s some info from the California Association of Realtors (CAR) to get you started.

GEEK (KEVIN)

At the end of the day, all SB9 does is allow for change to happen. That doesn’t mean your neighborhood is about to flip from single family homes to fourplexes. The conversion still has to pencil out, and that’s no guarantee with the cost of construction and labor these days — not to mention high interest rates if you don’t have all the cash up front..There’s also the question of lot size and eligibility. Need more insights? Have a look at this CAR slide deck and quick guide to lot splitting, or just send us an email.

Chic vs. Geek: Summertime Health

Last Friday, we told you that the Dog Days of Summer were getting underway. Looking to beat the heat while improving your mindset, habits, and routines? Below are a few building blocks to get you started toward your wellness goals.

CHIC (PEARL)

We all start our wellness journeys somewhere, and the best place to begin is centering yourself. These days, finding your zen could be as easy as opening an app. Check out some of our favorite freebies like Headspace, Calm, and Aura — or just try some simple.breathing techniques to get yourself into a meditative state. Want some tips? Send me an email today.

GEEK (KEVIN)

Meditation can help to clear your head, but it takes more than deep thoughts to improve the health of your temple — your body. Don’t have a home gym? No problem! You can build a low-cost personal space for improving your strength and fitness. Grab some yoga mats, jump rope, resistance bands, dumbbells, and more to create a gym environment.

Compass has partnered with GAIAM and SPRI in an effort to bring a healthy summer straight to your home! Whether you're looking for new weights or a new outfit, we've got you covered.

Chic vs. Geek: How Prop 19 Actually Works

One of our clients sold his house with us and moved to a new home in Palm Springs to enjoy his retirement. We were happy to be a part of his journey in a new place. One part of that journey was understanding how changes to property tax laws thanks to Proposition 19 could benefit him in his move.

CHIC (PEARL)

With Prop 19, California homeowners can transfer the tax base of their current residence to a new residence anywhere in the state. Could you benefit from Prop 19? Visit prop19taxbreak.com for up-to-date information. One helpful feature is the graphic above that explains how the new law works whether you’re scaling down or scaling up.

GEEK (KEVIN)

It’s a good idea before you move anywhere to check the County Assessor's website where you’re planning to land so you know what to expect from property assessments and taxes. If you can take advantage of Prop 19 regulations, be sure to download this sample form. And of course, you can always ask us for tips. We’re here to help!