Sites like the Contra Costa times typically pay a fee to a service that collects this type of information from county records. If you had the time, you could actually do it yourself. DataQuick is the major supplier of this information, but it is expensive to sign up on an individual basis. The easist way to get this information is contact a local realtor, that can access the Multiple Listing Database.  [less]

Hi Michelle, Most city and county governments have regulations for vacation rental property use. These types of properties are typically referred to as "transient rentals" and are rented out on a short term basis. Some muncipalities have regulations against thier use (Like Napa). Most others require that you secure a permit and collect and submit taxes on each rental to the local goverment agency. Check with Contra Costa county government offices for the agency that handles transient rentals in your area. Assuming that you are ok to use the home as a vacation rental, try advertising on internet sites such as VRBO, Homeaway and Craigslist.  [less]

Markets like we are in now present great opportunities for lease options, equity share arrangements and other creative purchases. In a typical equity share agreement you should expect to receive up to 50% of the ownership of the property and in many cases, all of the tax deductions.   [less]

It's true that most properties in the area have continued to lose value over the past year as a result of the credit crunch and weak real estate climate. Not all areas have been affected equally and it's also true that the Walnut Creek area has held up better than the outlying suburbs. Foreclosure activity in Walnut Creek is much lower than the same outlying areas. As the market continues to evolve you should continue to expect values in Walnut Creek and other highly desirable central county communities to hold onto their value better than other areas and to increase in value sooner than those same outlying communities when the market shifts back to appreciation. It would be prudent to appeal your property tax assessment if you purchase your home any time in the past 3-4 years. A formal appraisal is not required. The county assessor will generally ask you to provide 3 recent sales in the are of your home to document the current value. A good local Realtor would be happy to help you with this information at little or no charge.  [less]

Virtually all loans that are made in California are recourse loans except for those that are used for the purchase of a principal residence (called "purchase money loans"). So if the loan on the rental property was taken out when you purchase the property and the property was your principal residence at the time, then it would be non-recourse. Even though your rental home is a recourse loan, it is unlikely that the lender would pursue a foreclosure action that would give them a deficiency judgment which allows them to attach your other assets. To get a deficiency judgment the lender would have to foreclose using a Judicial Foreclosure instead of a regular foreclosure action. The Judicial Foreclosure takes longer, costs more to do for the lender and comes with some redemption rights for the borrower that loses the home.  [less]

You won't owe capital gains on the foreclosure. You clearly didn't make a profit on the sale! Prior to last year (2007) you would have owed taxes on the debt relief in a short sale situation, but congress changed that bad law and you are no longer taxed for a short sale of your principal residence. if the bank won't work with you on modifying the payments so you can keep the home, consider trying to do a short sale rather than go through a foreclosure action to preserve your credit if possible.  [less]

Hi Aaron, Congratulations on the decision to purchase your condo. In general, it's a great time to be a buyer as selection is at a 20 year high and you can negotiate some great deals as a buyer. Historically, Walnut Creek has shown better appreciation and higher property values because of it's location. Condo prices in Walnut Creek will generally hold up better than surrounding areas in slow markets and will be the first to appreciate in up markets. Homes values will be more affordable in the Oakley area, which puts you in a position of being able to afford a single family home at a price similar to a Walnut Creek condo. The decision as to area and type of property should depend on a number of personal factors, including commute considerations, family plans and other lifestyle decisions such as whether you'd prefer to live near the commercial center of Walnut Creek or the quieter suburb of Oakley. I'd be happy to give you additional guidance or assist you in your purchase. You can reach me at my office at 925 680-4950 to ask mored detailed questions.   [less]

I can certainly understand your frustration. The fact that the unit does not have a separte unit does not make it an illegal unit... it is ok to rent out a portion of a single family home. Yours is definitely an unusual rental set-up and it sounds like finding another place is the optimum solution. Having the shared laundry arrangements creates some obvious issues for you. As for compensation that you may be entilted to, I'd recommending placing a call to a local attorny that specialies in landlord/tenant issues. Most attorneys will give you an initial consultation at little or no charge and you can determine if compensation is available to you, or worth pursuing.  [less]

The county won't make the change automatically. They won't know that you have a new appraised value on the home unless you notify them. You should contact the local county assessors office and ask for a form to appeal your current property valuation (if the value is down). You can supply them with your appraisal, or you can simply get recent comparable sales to support your case from a local real estate broker or title company.  [less]

An inter-family transfer could be handled by a local real estate attorney at a fairly reasonable cost. You can pay your brother off and have a deed filed to remove him from the ownership of the property. That, by itself, will not remove his name from the mortgage, even though he would be removed from the ownership of the property. To remove him from the property would require a refinance and new mortgage (and the associated costs). Tax consequences generally fall on each individual owner, so when your brother sells his interest, there may be capital gains for him to pay (depending on his tax situation). it would be prudent to consult a tax advisor for the specific impact on each party.  [less]