How the Coronavirus will affect Bay Area Housing Market

Bay Area
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Remember the rule of compound interest. So the critical thing to do is to cough out some dole to invest. Since you know the currency is FANGMANT, invest in them.

How to cough out some dole?
No to very cheap vacation
Don’t replace clothes for a long time
Cook at home except anniversaries
Don’t replace car for a long time
Walk instead of drive whenever possible
Eat healthily (yes, is cheaper)
…

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3824

Good advice.
I, similar to most folks, own FANGMANT shares since I have invested in SPY and QQQ in my IRA/401. QQQ is almost 50% FANGMANT.

But there is a difference between buying and holding their shares by saving 5-10% of my paycheck, versus getting monthly refreshers from the companies themselves alongside the paycheck…

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He pulled it off market because no one bit his bullet

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3827

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3830

This comment sums it up pretty well:

“and I love that there are such strong tenants’ rights,” she said. “Except in a situation like this”
Yeah, except when it’s happening to me. Can’t have it both ways.

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a tiny house suddenly appeared in her front yard last summer.

Sounds like an ADU in the front yard. YIMBY should also incude YIMFY ( F from front , not F#&$).

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The tenant in the article is a tenant from hell. The moratoriums are inefficient and have only ensured that renters will pay higher rents and be subject to more scrutiny.
From a landlord’s point of view increased deposits, stricter review are absolutely the way to go.
I asked for and got 2x deposit recently for a new tenant.

Meanwhile this LI man will be looking for housing soon and I wonder who’ll rent to him considering that he is so infamous.

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From CAR:

The statewide eviction moratorium under the COVID-19 Tenant Relief Act (CTRA) is due to end today. However, the law will not simply return to its pre-pandemic form. Instead, a new law, the COVID-19 Rental Housing Recovery Act, will take its place. Here are the key differences in practices and procedures.

  • Exemptions for SFP and new construction to the just cause eviction rules return. Beginning October 1, the standard exemptions to the just cause eviction rules return, the most significant ones being for single family properties and new construction properties built within the last 15 years.
  • For rent due prior to October 1, 2021, the 15-day notice is still required (but not for rent due prior to March of 2020). To avoid confusion after October 1, if a tenant owed COVID rent from before October 1, 2021, it is highly recommended to use the appropriate forms to demand the rent now.
  • Special 3-day notice beginning October 1, 2021, through March 31, 2022, and the requirement of applying for Emergency Rental Assistance. Beginning October 1, a landlord may demand the full amount of rent using a special 3-day notice to pay rent or quit for rent that became due on or after October 1. However, the new notice requires the landlord to apply for emergency rental assistance. This special 3-day notice will be required for all rent due until March 31, 2022.
  • Tenancies commencing October 1, 2021, are not subject to the special 3-day notice. If the tenancy has commenced on or after October 1, 2021, then neither the special 3-day notice nor the requirement to apply for emergency rental assistance is required. Instead, on that date landlords can return to using the traditional 3-day notice to pay rent or quit.
  • On November 1, 2021, the landlord may collect unpaid COVID rent due from March 2020 through September 2021. Beginning November 1, 2021, the landlord may initiate a legal action to recover the unpaid COVID rent. This includes going to small claims court to recover any amount of COVID rental debt even if it is otherwise over the small claims court limits.

The above explanation is a simplified version of a surprisingly complicated procedure. C.A.R. intends to update its landlord/tenant forms where necessary. This will include:

  • The introduction of the special 3-day notice to pay rent or quit for rent demanded from October 1, 2021, through March 31, 2022
  • The reintroduction of the standard 3-day notice to pay rent or quit (for tenancies commencing after October 1, 2021)
  • The removal of the “Notice of Termination of Tenancy COVID Tenant Relief Act” (form NTT-CTRA)
  • The return, in its pre-pandemic form, of the “Notice to Terminate Tenancy” (form NTT)

Even though C.A.R. may make forms available for landlords to use, all persons are strongly urged to work with their own landlord/tenant attorney specialist before providing these notices, especially if their ultimate aim is to evict through a court procedure.

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@Elt1

Any idea about this?

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Smallish houses on largish lots are still selling for big bucks in today’s post-COVID Bay Area

https://www.redfin.com/CA/Sunnyvale/1369-Franchere-Pl-94087/home/769960?1280460695=variant&600390594=copy_variant&231528114=variant&1077477207=variant&utm_source=ios_share&utm_medium=share&utm_nooverride=1&utm_content=link&utm_campaign=share_sheet

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May be folks are thinking with SB9/SB10 lot splits can help their children in future :wink:

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How to apply for landlords assistance?

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No idea. Never did it before.

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I had a tenant move out 2 months ago after owing about $1000 in back rent accumulated since June of this year. She left on good terms, not because of the back rent. She sought help to pay the back rent and one day I got a call from a worker for this program. She said my ex-tenant filed an application and I needed to provide some information including my ledger to show the back rent owed. So I completed the information on this website and now it shows the application has been approved just waiting for funds to be dispersed. It’s been like that for over a week so I don’t know how long I will need to wait for the funds to arrive.

The worker also said if I have other tenants in similar situation I can include them in my application, and they will reach out to the tenants to get them to apply as well. I have another tenant owing me about $2k, so I included him and he was notified to put in a separate application which he did. That one is still going through approval.

If you want the contact info of the worker that reached out to me just PM me, but I believe you can just start an application on that website without any assistant from a worker.

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Unison

Not for me. Looks like a lawyer’s wet dream.

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Oh dear, people really are willing to pay too much for SillyCon Valley homes.

This one is not in the best part of town, nor does it have best schools. Yet sold for top dollar

https://www.redfin.com/CA/Sunnyvale/1106-Vasquez-Ave-94086/home/1681345?1280460695=variant&600390594=copy_variant&231528114=variant&1077477207=variant&utm_source=ios_share&utm_medium=share&utm_nooverride=1&utm_content=link&utm_campaign=share_sheet