New California Law on Low-Flow Toilets for 2017

As of January 1, 2017, water-conserving plumbing fixtures for single family homes built before 1994 will be required for California homes.

So as a Realtor, one thing I want to say right away is that it is not the agent's responsibility to disclose this at time of sale, but it is the seller/owner's responsibility to disclose if such fixtures have been installed.  And, it is not a point-of-sale requirement, but it is a requirement by virtue of owning a single family home as of January 1, 2017.

So what must be replaced?

1) A toilet manufactured to use more than 1.6 gallons per flush;
2) Any urinal manufactured to use more than one gallon of water per flush;
3) A showerhead manufactured to use more than one gallon of water per flush;
4) An interior faucet that emits more than 2.2 gallons of water per minute.

That State of California would like property owners to also know that putting brick in the toilet tank does not comply with the new law, even if it saves the appropriate amount of water. (Sorry!)

While the new law does not create a point-of-sale requirement, there may be local ordinances which do have their own laws which do create point-of-sale requirements, so it all depends on where you live, i.e., San Diego.

For properties which are not in compliance at the time of sale, the seller is required to disclose in writing to the buyer the new legal requirement, the presence of noncompliant plumbing fixtures on the property, and affirm to the buyer that it is the seller's (not the agent's) responsbility to disclose.  Of course, new updated transaction forms are planned by the California Association of Realtors to include this information.

At this point, the law addresses only single family homes, and there is no mention of condominiums or other unit-type properties.
For a more complete printout on this law, please feel free to contact me!

July 2016 Average Sold Prices in Cerritos, Long Beach, Lakewood and Seal Beach

In Los Angeles County, the median priced home in July, 2016 was $580,000, up from $529,000 in June, 2015, and current single family home price is $509,830 for all of California.

In the first chart are median prices for Cerritos, Long Beach, Lakewood , and Seal Beach single family homes for the past 3 years through September 7, 2016.  Seal Beach has increased 7.9% in that time; Cerritos has decreased 1.8%;  Lakewood has increased 5% overall; Long Beach has increased .3%.
Current median price - Long Beach $548,500; Cerritos - $690,000; Lakewood $525,000; Seal Beach $1,132,500.
Average median condominium prices for all four cities range from $553,500 (Cerritos) to $245,000 (Lakewood).  The average condo price range is virtually the same across the four cities.


For a chart of the average single family home in all four cities, please note the difference in the second chart, where overall prices change upward:

Beautiful Sea Ridge Home in Signal Hill - Fantastic Views!

This desirable highly sought-after home is still on the market at $1,248,000.

It is located in the beautiful Signal Hill development of Skyline Estates. Situated on a unique promontory in the highly coveted “Sea Ridge” with sweeping and explosive views from Palos Verdes to the Pacific Ocean to Newport Beach. The views from this home are unparalleled. The three-level floor plan features a formal dining room, formal living room, spectacular ‘Chef’s’ kitchen with GE Monogram appliances, double ovens, center island and breakfast bar that opens up into the family room with expansive windows offering impressive views of downtown Long Beach. 

View towards San Pedro

Three bedrooms are located on the first floor with one being a second master en-suite. The spacious master retreat features lounge, massive walk-in closet. master bath with dual vanities and spectacular tub featuring city views. Wonderful backyard with fireplace and BBQ is perfect for entertaining year round.

Excellent location close to the community walking trails, and pool. Just minutes to Belmont Shore, Downtown Long Beach and freeway access.
Association dues include community pool and paved road.
Information per MLS#PW16136930 on 8/29/2016.
Lic# 01188996
NOTE:  OFF MARKET

View of downtown Long Beach

See the video and/or find out more about this home, please contact me at 562-896-2609.






Listing posted by permission of listing agent Boardwalk Properties.

Brexit May Hurt and Help the Economy

Brexit -- the exit of Britain from the European Union via the U.K. June 23rd vote -- brought a sharp reaction in global markets. The drop in the Euro and the British pound, to the U.S. dollar rate, is good news for U.S. travelers going there. But Britons will now need to pay more for U.S. exports, and it may mean fewer goods sold by American to the U.K. in the future. But the U.K. only accounted for less than 4 percent of American exports in 2015, so the effect on the American economy is not likely to be direct.

There are other impacts though, as Brexit further delays any increase in Fed rate hikes, the rate hike that has been so long predicted to be coming. While this can be seen as great news by buyers and homeowners wanting to refinance, it also decelerates U.S. economic growth. On the other hand, Treasury yields on the 10-year note went down, followed by mortgage rates. Mortgage rates may well stay at 2012 levels.


--from California Association of Realtors Market Snapshot