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.

Happy International Beer Day!

It’s the first Friday in August, which means it’s International Beer Day! Time to pour a pint of your favorite craft brew and celebrate the end of another week of the Dog Days of Summer.

The Bay Area is home to one of the most vibrant and creative craft brew scenes in the world, and there’s no shortage of taprooms and breweries within a quick road trip of wherever you live.

Here’s a list of local favorites from the SF Chronicle. It’s a little light on the South Bay, so if you need some tips, just ask the Geek!

Chic vs. Geek: To Zillow or not to Zillow?

That is the question, and we hear it a lot from new clients. Should buyers and sellers rely on home values posted on websites like Zillow or Redfin? Let’s talk about it…

CHIC (PEARL)

If you’re looking to determine a home’s true value, Zillow and Redfin are a good starting point, but you shouldn’t rely on them to reflect the nuances of the home, neighborhood, market conditions, and seller’s expectations. It’s important to talk to an experienced agent or appraiser in order to figure out what’s realistic for your situation. A good agent can also give you an idea of how long it will take to sell based on recent activity in your area. It can be hard to know what you’re getting into, especially when you’re just getting started. Many people think they can handle the process on their own, and that may be true. But more often than not, they find themselves contacting an agent!

GEEK (KEVIN)

Zillow’s estimates are based on a combination of publicly-available data and proprietary algorithms. The public data includes information from local governments, tax assessors, county records, and other sources. The algorithm that determines these home values isn’t designed to take into account the many ground level factors at play on a property. As a result, you may find that it overestimates or underestimates the value of homes in your neighborhood. If you want to get a good deal, an algorithm won’t help. You have to talk to a human to get an idea of a target price and what to expect from the market. And a good agent can help you translate all the technical jargon!

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!