The month of December 2011 saw a rise in construction starts for both single-family residences (SFRs) and apartments and condos. However, only 21,420 SFR starts took place statewide in 2011, 6% below 2010. The overall trend for SFR construction remains flat, with little change from 2010 expected until 2015. 25,595 multi-family starts were initiated in [...]

Housing prices in November 2011 remained level or dropped by 1-2 index points in all three home-pricing tiers in California’s three largest cities, according to the Case-Shiller price indexes (shown below). Pricing for high-tier homes has remained mostly flat and weak throughout 2010 and 2011, after a brief “dead cat bounce” rise in mid-2009. Average [...]

Fire sprinkler systems are now required on all new California single family residences (SFRs) and duplexes built on or after January 1, 2011. Prior to the recent California building code amendment, 146 cities and counties in California had building codes requiring sprinklers in particular homes, however this is the first time a statewide building code [...]

Charts with up-to-date information and predictions about the course of the California real estate market.

A look at the legislation affecting real estate enacted during the 2009-2010 Legislative Session. For an archive of Legislative Watch years, click here.

Real estate related issues pending before the United States and California Supreme Courts.

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Effective January 1, 2010, any Mortgage Loan Broker (MLB) who makes, arranges or services residential or commercial mortgage loan secured by real estate in California must report to the Department of Real Estate (DRE) prior to January 31, 2010. This report must be done online at the DRE’s website (www.dre.ca.gov) using Form RE 866, Mortgage [...]

An updated version of the Real Estate Settlement Procedures Act (RESPA) Good Faith Estimate (GFE) and Settlement Statement (HUD-1) was released by the Department of Housing and Urban Development (HUD) for use in 2010. RESPA requires any lender making an FHA-insured loan (or any other consumer purpose loan secured by a one to four unit [...]

On Friday, January 15, the IRS released Form 5405, which is to be used by homeowners filing for their $8,000 tax credit. No online equivalent to this form currently exists, so those who wish to claim this tax credit must file their tax returns on paper. The form is available from the IRS here. Filers [...]