|
Getting your Trinity Audio player ready...
|
Each week, Embarcadero Media takes a look at home sales activity along the Midpeninsula in the communities of Atherton, East Palo Alto, Los Altos, Los Altos Hills, Menlo Park, Mountain View, Palo Alto and Woodside. Home sales are provided by California REsource, a real estate information company that obtains the information from counties’ recorder’s offices. Information is recorded from deeds after the close of escrow and published within four to eight weeks. Here’s a look at home sales made public the week of May 1.
Compare this data with last week’s home sales.
The graphics are nice but this story doesn’t really provide any information. Better information is:
1. price per square foot
2. type of house – condo, townhouse, single-family house
3. availability of homes – e.g. If a city with 4k people and a city with 80k people each have the same number of homes available the city with 80k people comparably has a serious housing shortage.
The chart also shows Atherton’s median sale price lower than the lowest, which is mathematically impossible.
Just an Observation,
David Avny sold my building at 184 Centre Street for $4M but bought it for $5M. And the CSFRA requires that when reduction of services occurs that is an illegal raise in rent.
On top of that it is a R4 building in a R3.1 zone, and the foundation is cracking and my floor is sinking.
Since this has been a recent sale, that means there was a $1M loss of the services of the building. a 20% decline.
That means under CSFRA I am entitled to a 20% discount on rent, and I am going to take him to court for it. Specifically:
(c)Petition for Downward Adjustment — Decrease in Housing Services or Maintenance.
A decrease in Housing Services or maintenance, or deterioration of the Rental Unit beyond ordinary wear and tear, without a corresponding reduction in Rent, is considered an increase in Rent. A Tenant may file a Petition to adjust the Rent downward based on a loss in rental value attributable to a decrease in Housing Services or maintenance or deterioration of the Rental Unit. The Petition must specify the circumstances allege to constitute a decrease in Housing Services or maintenance, and demonstrate that the Landlord was provided with reasonable notice and an opportunity to correct in like manner to Petitions filed pursuant to Subsection 1710(b) (2) herein.
(d)Petition for Downward Adjustment — Unlawful Rent: If a Landlord demands or retains Rent in excess of the lawful Rent pursuant to this Article, a Tenant may file a Petition to adjust the Rent to its lawful level.
The loss of $1M is an ACTUALL proof of reduced services given that the property should not have lost any value under his management.
And since he no longer is he landlord, he cannot do a thing about it.
The new owners probably have no clue about it either.