Welcome to your daily briefing on real estate developments in California. Today we're covering 6 key stories including updates on california real estate headlines, background & context. Let's dive in.
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Discover how much real estate agents make per sale in California. Explore commission rates, income factors, and legal changes in our comprehensive guide.
Relevant to real estate professionals operating in CA.
We are the sole provider of the most current California property data available online, updated daily.
Relevant to real estate professionals operating in CA.
Agents get paid via commission, usually a percentage of the home's sale price. Here, we explain how how much they make — and who pays.
Relevant to real estate professionals operating in CA.
Reach real estate professionals in this market
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A variance asks the board to bend the rule for your specific lot due to hardship; it is the narrowest and fastest path. A special-use permit (sometimes called conditional-use) accepts the underlying zoning but adds conditions for a specific use. A full rezone changes the district itself and requires the broadest political process.
Filing the wrong instrument is the most common cause of months-long delays. The right instrument can shorten an entitlements timeline by 60-90 days versus the wrong one.
A Phase I ESA is required for most commercial loans and is strongly recommended whenever a site has had industrial, gas-station, dry-cleaner, or auto-repair use in its history. The ESA itself does not test soil — it researches historical use and identifies Recognized Environmental Conditions that may justify a Phase II (which does test).
CERCLA liability for contamination attaches to current owners regardless of who caused the contamination. A Phase I performed before purchase establishes the "innocent landowner" defense, which is otherwise nearly impossible to claim.
Some CA jurisdictions give the foreclosed owner a statutory right to redeem the property within a window after the sale (often 6-12 months). Buyers at foreclosure auctions in those jurisdictions take title subject to redemption — meaning the prior owner can reclaim the property by paying the auction price plus interest. Title insurance does not cover this exposure.
A redeemed property is returned to the prior owner, not refunded with the original purchase price plus appreciation. Auction buyers in redemption-rights states need to hold capital reserves for the entire window.
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