In short, January 1 is expected to bring with it some environmental requirements that will affect owners installing water heaters, air conditioning, and new roofs. The refrigerant requirements change for cooling systems, so the cost to install new or recharge old will increase significantly. The low knox requirement of gas heaters has raised materials cost there also.

Rumored building code changes for new roof installations may or may not go in to effect. I've not received a confirmation this is going into effect January 1, but it's anticiapted. Per local company, Affordable Roofing:

Iif the roof system is changed next year, they will have to get reflective, Title 24-compliant shingle roofing and/or attic installation upgraded to meet new building codes. The Title-24 compliant shingle will add about $1,000.00 to the overall cost of the roof while upgrading the insulation could be as much as $2,500 or so. This assumes that Title 24 compliance won't be pushed back another year due to economic hardship in the state's economy, of course.

This law is currently in existence, though the timeframe is being extended. The 60-Day notice to terminate tenants, under most situations, requires a 60-day notice to terminate a month-to-month tenant if they've resided at the home/apartment for more than one year. This law was to expire January 1, 2010, and has been extended indefinitely.

A 30-day notice to terminate is still sufficient if the tenant has lived in the property for less than one year. There are also some exemptions to the 60-day period in the case where the landlord has sold the property.

If you own rental property and manage it yourself, a membership or general review of CAA (California Apartment Association) website will keep you up-to-date with new laws and current litigation that may affect your tenants. On more general matters, our property management website is a source for general maintenance and lease questions that are commonly asked by our tenants.

Coming into effect on January 1, 2010, the homestead exemption protecting a homeowner's equity from judgment creditors has been increased by $25,000 across the board to $75,000 for individuals, $100,000 for married couples or family units as specified, and $175,000 for persons over 65 years, disabled, or over 55 years with limited income as specified. Assembly Bill 1046.

If you have not filed a homestead exemption, check with your county assessor's or recorder's office to get more information. It applies to a owner-occupied, primary residence.

For more info from the source, click here.

Ray will be holding open this home on Saturday, 10/24, from 1 to 4 pm. Stop by to see this beautiful townhome! This is a "normal" sale, so if you're looking to secure a home prior to the 12/1 deadline for the first-time buyer credit, this home is an excellent candidate!

Click here to preview the virtual tour.

For more information, click here to view the listing.

An REO Buyer can select thier own escrow/title company: Effective October 11, 2009, the Buyer's Choice Act prohibits an REO lender to require a buyer to purchase escrow or title insurance from a particular company. This law expires on January 1, 2015. Assembly Bill 957.

For more info, click here.