New California Housing Laws 2024

🏡 New S.F. Housing Scrutiny: California's Annual Check-In


In a groundbreaking move, California's housing agency will commence yearly evaluations of San Francisco's progress toward state-mandated housing goals, beginning next year. This heightened scrutiny, championed by Senator Scott Wiener, places San Francisco under a more frequent review compared to other regions, which will be assessed every four years. Wiener, the law's architect, attributes this decision to his city's sluggish pace in approving new housing projects, blaming the Board of Supervisors and the notoriously slow permitting process. The newly enacted law, SB423, adds to the mounting pressure on San Francisco, following an unprecedented audit of its housing approval process by the state housing agency. Failure to streamline processes may lead to the city relinquishing control over permitting.


🏠 "Yes In God's Backyard" Law: Affordable Housing Simplified


Breaking barriers to affordable housing, SB 4, or the "Yes In God's Backyard" (YIGBY) law, provides a streamlined path for churches and nonprofit education institutions to build affordable housing on their land. This exemption spares them from the cumbersome rezoning process and reviews under the California Environmental Quality Act (CEQA). Anticipated to open up approximately 171,000 acres for development across the state, this law is a crucial step in addressing California's housing crisis. Organizations opting for streamlined affordable housing must commit to maintaining the affordability of homes for a minimum of 55 years for rentals and 45 years for owner-occupied units.


Read more about these developments at SacBee.


🔒 Security Deposit Cap: A Game-Changer for Renters


Navigating the rental landscape in many California cities can be daunting, and sky-high security deposits only exacerbate the challenge. Current state law permits landlords to request security deposits equivalent to two months' rent for unfurnished units or three months' rent for furnished units. However, with the implementation of AB12 by San Francisco Assembly Member Matt Haney on July 1, 2024, this will be capped at the equivalent of one month's rent. This move aims to alleviate financial burdens on renters and improve access to housing in high-demand areas.


🛴 SB 712: Storing Mobility Devices in Rental Spaces


In another tenant-friendly move, SB 712 allows tenants to store electric scooters and bicycles in their apartments, provided the battery meets specific safety standards. In cases where the battery falls short of safety criteria, tenants may need to obtain liability insurance or may face restrictions on charging the mobility device indoors.


Stay informed about California's evolving housing landscape as these laws come into effect and shape the future of housing in the state.


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Spencer Hsu is a Bay Area Real Estate Agent, a Residential, New Home Construction and Relocations specialist with eXp Realty LLC. Serving the entire Bay Area. He aims to help busy professionals in the Bay Area find their dream homes by leveraging tech, data and local insights.


CONTACT ME:

Call / Text: (408) 547- 4590

DRE 02077253

Email: spencer@spencerhsu.com

www.homesbyspencerhsu.com


💥 Follow me on Social Media 💥


→ Instagram: https://www.instagram.com/spencerhsure/


→ LinkedIn: https://www.linkedin.com/in/spencerhsu/


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Avsnitt(362)

How do you Buy a Home in the Bay Area? - 7 Key Steps with Spencer Hsu Real Estate

How do you Buy a Home in the Bay Area? - 7 Key Steps with Spencer Hsu Real Estate

Homebuying can be daunting but with the right education, there are 7 key steps to go from idea to home ownership. Whether this is your first time, or this is your 5th time, I'm sure you will learn things from my approach that you won't from others.7 Critical steps to buying a home in the Bay Area0:55 Step 1 What is your motivation?2:43 Step 2 Talk to a lender and get pre-approved5:24 Step 3 Begin the search and discovery6:28 Step 4 Check out specific houses8:31 Step 5 Strategize on an offer11:22 Step 6 What happens when you are in contract?16:12 Step 7 Congratulations! Client for Life!Have any questions? Reach out and let's talk about your real estate goals anytime! Feel free to find a time on my calendar and we can talk about anything.🗓 Want to schedule a time for a free consultation? Find a time that works for you! https://www.calendly.com/s...🌍Find your dream Bay Area home https://www.homesbyspencerhsu.com/​​📸Follow me on Instagram: https://instagram.com/spencerhsure🧑‍💼Let's connect on LinkedIn: https://www.linkedin.com/in/spencerhsu/​🛎Don’t forget to subscribe for the latest real estate tips and updates: https://forms.gle/2Fvk41fbD6kiRtHt5🏠💲Track the value of your home and see if it's beneficial to refinance! http://bit.ly/3aFdyMWGet added to my monthly insights newsletter! https://forms.gle/toWqtGBFaSRYJj2hREAD MY REVIEWS FROM PAST CLIENTS:Yelp: https://www.yelp.com/biz/spencer-hsu-...Zillow: https://zillow.com/bayareareagentRealtor.com: https://www.realtor.com/realestateage...——Born and raised in the Bay Area, I spent 11 years in Startup Technology Sales before becoming a full-time Realtor. Having personally invested and done renovations in the Bay Area, I wanted to help busy colleagues in the Bay Area technology industry find their dream home as seamlessly as possible. I specialize in educating my clients on the process of buying, selling, and investing in the Bay Area. I have helped 17 families within the last year for $21MM in happy transactions!Spencer Hsu, MBARealtorSpencer@SpencerHsu.com(408)223-5493EXP Realty DRE #02077253www.spencerhsu.com

15 Apr 202018min

Santa Clara and San Mateo County Real Estate Market Video during Coronavirus (April 10, 2020)

Santa Clara and San Mateo County Real Estate Market Video during Coronavirus (April 10, 2020)

Check out my weekly live show! Here are the things covered this week:1) 1:02 Current protocol for seeing houseshttps://www.samcar.org/posts/what-doe...2) 2:05 Mortgage guidelines have tightenedhttps://www.housingwire.com/articles/...3) 3:44 Construction is no longer an essential servicehttps://www.mercurynews.com/2020/03/3...4) 5:15 Market Analysis of Santa Clara Countyhttps://docs.google.com/spreadsheets/...12:02 Market Analysis of Santa Clara County5) 15:20 Time to refinance?https://www.housingwire.com/articles/...Have any questions? Reach out and let's talk about your real estate situation anytime! Feel free to find a time on my calendar and we can talk about anything.🗓 Want to schedule a time for a free consultation? Find a time that works for you! https://calendly.com/spencerhsure🌍Find your dream Bay Area home https://www.homesbyspencerhsu.com/​​📸Follow me on Instagram: https://instagram.com/spencerhsure🧑‍💼Let's connect on LinkedIn: https://www.linkedin.com/in/spencerhsu/​🛎Don’t forget to subscribe for the latest real estate tips and updates: https://forms.gle/2Fvk41fbD6kiRtHt5🏠💲Track the value of your home and see if it's beneficial to refinance! http://bit.ly/3aFdyMWGet added to my monthly insights newsletter! https://forms.gle/toWqtGBFaSRYJj2hREAD MY REVIEWS FROM PAST CLIENTS:Yelp: https://www.yelp.com/biz/spencer-hsu-...Zillow: https://zillow.com/bayareareagentRealtor.com: https://www.realtor.com/realestateage...——Born and raised in the Bay Area, I spent 11 years in Startup Technology Sales before becoming a full-time Realtor. Having personally invested and done renovations in the Bay Area, I wanted to help busy colleagues in the Bay Area technology industry find their dream home as seamlessly as possible. I specialize in educating my clients on the process of buying, selling, and investing in the Bay Area. I have helped 17 families within the last year for $21MM in happy transactions!Spencer Hsu, MBARealtorSpencer@SpencerHsu.com(408)223-5493EXP Realty DRE #02077253www.homesbyspencerhsu.com

11 Apr 202018min

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