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Thread: No new single family homes in California??

  1. #1
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    No new single family homes in California??


    If it is your property, why do you have to build on it for others? This is pretty lifechanging.
    https://www.procopio.com/articles/vi...al-estate-laws
    SB 1079. Residential property: foreclosure.

    Existing law provides certain requirements that must be satisfied before the exercise of a power of sale under a deed of trust. One requirement is that, if a loan is secured by real property containing 1-4 single-family residences, a notice of sale containing specific information be sent to potential bidders and to the property owner.

    SB 1079 requires that the notices of sale additionally provide tenants with notice, and that the notices specify a tenant’s right to purchase the property during foreclosure sales. The law also provides that a trustee cannot bundle properties for sale (each property must be bid on separately), unless the deed of trust provides otherwise.

    Additionally, SB 1079 provides an alternative process for trustee’s sales under a power of sale in a deed of trust on real property containing 1-4 single-family residences. The law permits “eligible bidders” to bid on foreclosed properties up to 45 days after the foreclosure sale. Eligible bidders primarily include: (A) the tenant occupying the property, (B) a prospective owner-occupant, and (C) certain non-profits.

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    Some good points here.
    It would appear that the suburbs are being regulated out of existance, property owners will go for the money and sell out. Then you get to wake up one morning and discover you live in a Prefabricated Ghetto.
    Also, how will they deal with section 8 ?
    Last edited by Averageman; 09-19-21 at 14:00.

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    Live in the pod, eat the bugs. You will own nothing and be happy.

    Are you paying attention yet?

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    Judge Dredd Mega Cities coming soon.

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    I can imagine paying 250K for a Condo and then find out my neighbors are section 8 and everything that goes along with that.
    Your home is now worth nothing.

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    Quote Originally Posted by Averageman View Post
    I can imagine paying 250K for a Condo and then find out my neighbors are section 8 and everything that goes along with that.
    Your home is now worth nothing.
    Try 750k for a hotel room sized apt in SF across the street from a shanty homeless town under the freeway. And the value still goes up.

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    Enjoy your socialist utopia.
    It's hard to be a ACLU hating, philosophically Libertarian, socially liberal, fiscally conservative, scientifically grounded, agnostic, porn admiring gun owner who believes in self determination.

    Chuck, we miss ya man.

    كافر

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    Don’t forget the poo!

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    Yet people still live there... Maybe one day they will wake up and realize what they are voting for...

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    Quote Originally Posted by HMM View Post
    Yet people still live there... Maybe one day they will wake up and realize what they are voting for...
    Haha, that's a good one. Did you watch the interviews with Californians on why they voted to keep their Governor?? Because he cares about the homeless, he is doing an awesome job with the state's covid response, the state economy is awesome, etc..... They are living in an alternate reality....
    Psalm 34:19

    To argue with a person who renounced the use of reason is like administering medicine to the dead. ~ Thomas Paine

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