Professional Property Management

VOTED BEST PROPERTY MANAGEMENT COMPANY

Mon, 16 Sep 2024 22:50:25 GMT

VOTED "BEST PROPERTY MANAGEMENT COMPANY"

On September 16, 2024, Ms. Diana Escobar, Manager of Professional Property Management, was presented with the award of the BEST PROPERTY MANAGEMENT COMPANY by the Richmond Chamber of Commerce. Professional Property Management is a full service property management company providing the services of leasing and managing of Residential, Commercial, Apartment, Office, Retail and Industrial properties in

the counties of West Contra Costa, Contra Costa, Marin, Solano, Napa and Alameda Counties.

Market News

Mon, 19 Feb 2024 22:57:04 GMT

WHAT IS THE CURRENT MARKET CONDITIONS TO SELL MY PROPERTY?

Email ppm4rent@aol.com for a FREE MARKET CONDITION REPORT for HOME SALES THROUGHOUT CALIFORNIA. ALL TENANTS SHOULD CONSIDER BUYING YOUR OWN HOME! EMAIL TODAY!

The Market at a Glance

Thu, 18 Jan 2024 22:22:44 GMT

The Market at a Glance

Bay Area Real Estate Market

Tue, 07 Mar 2023 22:15:26 GMT

California Sales and Price Report

Check out the lastest in the California Real Estate Market.

RED HOT ALAMEDA REAL ESTATE MARKET

Fri, 18 Jun 2021 00:41:57 GMT

IS IT TIME FOR YOU TO SELL???

Call Professional Property Management for A FREE EVALUATION OF YOUR PROPERTY

RED HOT CONTRA COSTA MARKET

Fri, 18 Jun 2021 00:31:31 GMT

IS IT YOUR TIME TO SELL?????

CALL PROFESSIONAL PROPERTY MANAGEMENT FOR A FREE EVALUATION OF YOUR PROPERTY

RED HOT MARKET

Thu, 08 Oct 2020 00:43:56 GMT

RED HOT REAL ESTATE MARKET

The Real Estate Market is Red HOT!!! Professional Property Management team is here to provide a FREE MARKET ANALYSIS of your Property and to see if NOW is the right time for you to SELL or 1031 Tax deferred exchange into another property with more potential. CALL OR EMAIL US today at ppm4rent@aol.com PROPERTIES ARE NEEDED. IF you or someone you know is thinking about BUYING or SELLING, feel free to contact us.

Mortgage & Tax Deferment/Relief for Property Owners During Coronavirus Crisis

Wed, 20 May 2020 21:44:59 GMT

The Apartment Owners Association of California, Inc. started this petition to Governor Gavin Newsom

To our Governor, United States and State Senators and Representatives, Mayors of all California cities, City Council Members and County Supervisors:

PRAY!

To those of you who pray, we hereby ask you to pray to God for wisdom and understanding; for help in reacting and asking others to react properly to the coronavirus and the housing crisis; for a good and accurate understanding of the needs of those who consume housing and those who provide housing, as well as those who provide services through their small businesses. As our President has requested, pray, pray and pray!

Petition

As a result and only because of recent laws and orders that have been put into effect, the undersigned do hereby petition you to do all you can to immediately support a twelve-month mortgage, utilities and tax moratorium. We urgently implore you to pay the rent for all tenants that the government classifies being eligible to stay and not pay!

Wrong Solutions

Please consider that the government’s current solutions (laws and orders) to this virus may be worse than the problem. Have we transformed a virus crisis into a social and economic crisis, with consequences more severe than the virus itself? Could our reaction to this virus cause a severe recession or even a depression? We do know that suspending evictions will create a more severe housing crisis. When people lose their income from their business and/or their job, they can, and many will, also lose their homes, cars, marriages, and their health. They not only cannot pay the rent, they can’t put food on the table for their kids. Neither can housing be provided for very long without rental income. “Society and friends” will not take care of them or us – i.e. witness the homeless.

Think About This

Would you pass a new law that would allow our needy citizens to go into a grocery store, fill up their carts, check out, and then walk out without paying? Oh, don’t forget they will be required to pay the full amount for that grocery bill when they go back to work. A six-month repayment plan will be worked out. Sure!

Let’s Not Be Gullible

Anyone who thinks these currently needy citizens will pay for those groceries or past due rent at a later date was born yesterday. They will now just move on and buy their food from a different grocery store! You can just hear them saying, “That food was free. I had no savings or extra money then and I do not have it now. How do they expect me to pay for that free food and rent either now OR later?”

Why Have You Done This to Us?

This is exactly what you have allowed to happen to the rental housing industry that was already in a “crisis”. Laws have been passed that allow renters to walk into a privately-owned building, live in and enjoy the apartment, and ring up a huge bill for back rent that they will never be able to pay. Even if they were allowed to spread out the payments over a ten-year period, our experience has proven that they will just choose not to pay the housing provider. That is a proven fact! Experienced housing providers know this to be true. It seems that inexperienced politicians do not have this knowledge or do not care. We ask you to care. Let government pay their rent. Better yet, allow us to take care of our renters without your interference in our business. We have done a pretty good job in the past without your laws that continue to drive up the cost of housing!

We do thank you for exempting property management from the stay-at-home rules and recognizing housing providers as essential. This will help solve the housing crisis.

Change the Eviction Laws?

The eviction laws were already badly flawed and have now been changed to give an excuse to even rich tenants not to pay their legally due rent. Many renters have money in the bank or can borrow from family or friends. Housing providers are not in the lending business! The government should loan the rent money to tenants, not the housing providers who are already doing their part. All taxpayers normally pay for this type of welfare.

Individual Financial Burden

Please consider that this financial burden should not be passed on to only individual housing providers who, for many years, have already solved a large portion of the housing crisis. Many housing providers also live from paycheck to paycheck, or from monthly rental income. How about a moratorium on our property taxes? Bills have to paid; like the mortgage, utilities, insurance, maintenance, manager, gardener, trash, painter, plumber, electrician, and on and on. Who do you think will pay these people when the rent is not paid? In addition, many owners are still paying for the soft story earthquake retrofits. This can amount from $50,000 to hundreds of thousands of dollars that are now being paid (in addition to all the other bills!) Have mercy! Consider a twelve-month delay in requiring this work to be completed.

Please Take Immediate Action

We are in the business of providing housing and keeping our renters happy. We know we have to share the burden of this virus. Help us out! Pass a moratorium so that we can defer our mortgage payments, property taxes and utility bills and then we can defer the rent for the renters who need our help. We’re asking that Government share the burden and allow housing providers to also defer our expenses.

Please Consider: Reinstituting laws that require rental payments to be paid when owed to any individual housing provider. Have the government loan housing consumers the money or pay their rent for them instead of putting the whole burden on individual housing providers. OR, pass a moratorium on expenses that owners are required to pay so we can pass on the benefits to our housing consumers. Better yet, allow our old American Economic System of Free Enterprise to work and together we can solve this problem, along with getting rid of all the panic and fear that the news media has generated.

Prayer Pledge

Those of us who pray hereby pledge to you to pray for our tenants, political leaders, those affected by the virus, and other disease(s) that are taking even more lives, healthcare workers and the homeless.

Leadership Needed

With your leadership, commitment to the housing industry and immediate actions of fairness, we look forward to serving our customers and being a huge part of the solution for our housing crisis.

Thank you for your consideration.

DONATE TO AOA POLITICAL ACTION COMMITTEE

A lot of people are asking how they can donate to the AOA Political Action Committee to help fight for landlord rights. You may donate online to www.aoausa.com/pac You may also donate with a check or money order payable to:

The AOA PAC and mail to:

6445 Sepulveda Blvd. Suite 300

Van Nuys, CA. 91411

Professional Property Management is happy to receive Referrals!

If your property is already listed, please disregard this solicitation.

STIMULUS MONEY $$$$ USE IT!!

Fri, 03 Apr 2020 23:06:56 GMT

Coronavirus Aid, Relief, and Economic Security Act (CARES ACT)

March 2020

Updated April 6, 2020

Email:ppm4rent@aol.com

Telephone: 510.758.5636

Coronavirus Aid, Relief, and Economic Security Act (CA RES Act)

1. Unemployment

a. $600 per week per recipient for up to 4 months

b. Extended UI Benefits to Self-Employed Workers

2. Recovery Rebates

a. Use 2019 tax return or 2018 if 2019 has not been filed to determine rebate.

b. $1,200 per adult and $500 per child.

c. Income limits apply with taxable income over $75,000 (single) and $150,000 (married),

$112,500 (head of household).

3. Estimated Tax Payments

a. Any required estimated tax payment that are required during March 27, 2020 through October 15, 2020 shall be due October 15, 2020 as one payment.

b. Therefore, taxpayers should add the 1st, 2nd and 3rd estimated tax payments and make one payment on October 15, 2020. The 4th quarter payment due January 15, 2021 is still due.

THIS SECTION DID NOT MAKE THE FINAL BILL. ESTIMATE PAYMENTS ARE DUE April 15th ,

June 15th, October 15th and January 15, 2021.

4. Temporary Waiver of Required Minimum Distribution Rules

a. Required Minimum Distribution (RMD) will not be applied for calendar year 2020.

THIS SECTION DID NOT MAKE THE FINAL BILL. RMD still need to be made for 2020.

5. Delay of Estimated Tax Payments

a. Any estimate that was due between March 27, 2020 to October 15, 2020 is now due on October 15, 2020 as one payment.

b. Therefore, estimate tax payments for calendar year end taxpayers that are due April 15th, June 15th, and September 15th are now due October 15, 2020.

c. Therefore, estimated tax payments for fiscal yearend taxpayers that have estimated due between March 27, 2020 – October 15, 2020 are all due October 15, 2020.

THIS SECTION DID NOT MAKE THE FINAL BILL. ESTIMATE PAYMENTS ARE DUE April, 15th,

June 15th, October 15th and January 15, 2021.

6. Qualified Charitable Contributions (effective for 2020 tax year)

a. Contributions up to $300 will be allowed to be taken against taxable income prior to standard deduction or itemized deduction.

b. Temporary suspension of limitations on certain cash contributions.

c. Therefore, taxpayers will not be limited by 50% of their income on charitable contributions.

d. Corporation contributions would be allowed 25% of taxable income as qualified contribution expense.

7. Retirement Funds

a. Distributions from retirement plan as a result of effect of COVID-19 can be repaid within 3 years or the income can be recognized over 3-year period.

b. Limit on withdrawals is $100,000

c. Coronavirus-related distribution is defined as:

i. Anyone diagnosed with COVID-19

ii. Spouse or depended is diagnosed with COVID-19

iii. Experienced financial consequences as a result of quarantined, furloughed or laid off due to such virus or disease

d. Loans from Qualified Plans

i. Any loan from a qualified employer plan to a qualified individual shall substitute

$100,000 for $50,000 when applying Sec 72(p)(2)(A).

ii. Therefore, employees are allowed to take $100,000 in loans during 180-day period beginning March 27, 2020.

iii. Delay of repayment on loan from qualified plans shall be delayed for 1 year.

8. Employee Retention Credit

a. Credit will be allowed against employer’s employment taxes equal to 50% of the wages paid to each employee for the calendar quarter.

b. Applicable employment taxes are FICA and Medicare taxes owed by employer.

c. Eligible Employer:

i. Employer is fully or partially suspended during the calendar quarter due to order from government authority limited commerce, travel, or group meetings due to COVID-19

ii. Significant decline in gross receipts – 50% less gross receipts for 1st quarter of 2020 and 80% less gross receipts for quarter following the 1st quarter of 2020

d. This credit can be claimed by tax-exempt organizations.

9. Net Operating Losses

a. Net Operating Losses recognized after December 31, 2017 to January 1, 2020 shall be carried back to each of the 5 years preceding the taxable year of such loss

b. The tentative carryback and refund for tax years 2018 and 2017 is timely filed if filed not later than 120 days from enactment of this act or July 25, 2020.

c. Amendment is made for Tax Code section 172 to allow the carryback of NOL from 2018, 2019, and 2020.

10. Delay of Payment of Employer Payroll Taxes

a. Employer payroll taxes (FICA and Medicare) will be allowed to be deferred

b. Employee portion including withholding are still subject to deposit and payment requirements.

c. Deferral

i. 50% of employer payroll taxes need to be paid by December 31, 2021

ii. Remaining balance of employer payroll taxes need to be paid by December 31, 2022

d. Employer payroll taxes incurred from March 27, 2020 to December 31, 2020 can be deferred.

e. No penalties will be issued on late payroll deposits for the employer portion payroll taxes.

f. Late deposit penalties will be issued for late deposit of employee withholding and employee FICA taxes.

11. Small Business Act Loans - Forgiveness

a. Allows SBA covered loan program to be available to:

i. Eligible self-employed individuals

ii. Insured Credit Union

iii. Non-Profit Organizations

b. Amended allows the above to participate in the paycheck protection program which include paycheck protection loans.

c. Organizations with less than 500 employees

d. Maximum loan amount is 2.5 times the amount of average payroll costs incurred during the 1-year period before the date the loan is made.

i. For example – Average payroll costs is $50,000, loan would be $50,000 time 2.5 equaling $125,000.

e. Loan would be non-recourse with no personal guarantee and receive a risk weight of zero percent.

12. Small Business Act - Emergency Grants

a. Grants up to $10,000 are available to businesses, non-profits, ag co-ops, that apply for SBA loan.

b. The grant is to be used for providing paid sick leave, maintaining payroll, meeting increased costs of materials, rent or mortgage payments, and repaying obligations that cannot be met due to revenue loss.

c. The CARES Act allocated $10,000,000,000 to this and once the funds are gone the grants will not be given. However, SBA loans will continue to be issued.

d. To apply for the grant, you submit a SBA Loan application and required documentation timely.

13. SBA Loan forgiveness

a. Loan made by SBA between March 1, 2020 – June 30, 2020.

b. Loan was used to cover payroll costs, healthcare costs, interest on mortgage/debt payments, rent, and utilities

c. Forgiveness would be considered Cancellation of Debt income however would not be taxable in the year of forgiveness.

d. SBA Loan application shall include documentation verifying the number of full-time equivalent employees on payroll and pay rates including payroll tax returns, state payroll returns, debt obligation documents and any other documents SBA deems necessary.

Information and Resources for Residents

In these times of uncertainty, we look to stay connected and share relevant news and information with our residents. Our purpose at PPM: creating communities where people thrive. Now, more than ever, we find ways to support each other, as we navigate this road together.

This web page was created as a resource for our residents, and includes our recent Covid-related communications, along with helpful links to outside resources in areas of Community Support and Financial Support. Please let us know what else we can do to further support you.

Important Maintenance Guidance

Emergency maintenance requests only

As a reminder, we are temporarily deferring non-emergency maintenance requests in order to limit in-person contact and allow us to focus on urgent matters. Emergency requests include issues related to:

Life safety
Security
Heating and air conditioning
Appliances not working
Important lighting and outlets
Clogs, leaks, water supply or temperature
Pest control

If you’re interested in handling simple, non-emergency tasks on your own, please let us know. We can help you remotely and deliver any supplies you may need to complete the task (eg. plunger, zip-it hair removal drain tool).

Please remember:

Don’t overfill your refrigerator or freezer. Refrigerators and freezers will shut down if they’re over packed and don’t have proper air circulation.

Don’t flush paper towels or wipes down the toilet. You’ll clog the toilet. Please have a plunger handy in case of clogs.

Proper garbage disposal. Please separate recycling material from garbage where recycling options are provided. If you have a trash chute at your building, please use the correct chutes for disposal. Make sure garbage bags are tightly sealed. If recycling material is too large for the recycling chute or bin, please bring it to the main trash room or dumpster.

Stay-at-Home Orders

California

Financial Support

IRS Tax Relief
Government Benefits | Unemployment assistance, Healthcare, and Food & Nutrition
Small Business Guidance | Small Business Guidance & Loan Resources
Government Grants & Loans
Student Aid | Coronavirus and Forbearance Info for Students, Borrowers, and Parents
Supplemental Nutrition Assistance Program | Provides nutrition benefits to supplement the food budget of needy families

State Resources for Financial Support

California

Unemployment Insurance Claim

Community Support

Giving Back

Please consider donating to organizations in your local community, and assisting neighbors in need with grocery and pharmacy pickups, babysitting, and dog walking, to name a few.

American Red Cross | Healthy individuals are needed to donate blood. Find a local blood drive.
World Health Organization | Solidarity response fund
Feeding America | Hunger relief
No Kid Hungry | Provide kids in need with meals they’ve missed due to school closures
Salvation Army | Relief for low-wage employees facing layoffs, limited hours and childcare challenges
Global Giving | Medical supplies and relief efforts
Eater’s List of Relief Funds | Restaurants, bars & food service workers
Disability or Paid Family Leave Benefits

All information is deemed reliable but not guaranteed. This was prepared by licensed California CPA to assist in understanding the ACT. Please consult with your own CPA for more information.

California HOME SALES REPORT AUGUST 15, 2019 READY TO SELL OR BUY WE CAN HELP YOU GET TOP DOLLAR. CALL US TODAY!

Thu, 29 Aug 2019 18:58:00 GMT

August 15, 2019

California home sales perk up in July for first time in more than a year, C.A.R. reports

– Existing, single-family home sales totaled 411,630 in July on a seasonally adjusted annualized rate, up 5.6 percent from June and up 1.1 percent from July 2018.

– July’s statewide median home price was $607,990, down 0.4 percent from June and up 2.8 percent from July 2018.

– Year-to-date statewide home sales were down 4.9 percent in July.

LOS ANGELES (Aug. 15) – The lowest mortgage interest rates in nearly three years helped jump start California’s housing market to post the first year-over-year sales gain and highest sales level in 15 months, the CALIFORNIA ASSOCIATION OF REALTORS ^® (C.A.R.) said today.

Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 411,630 units in July, according to information collected by C.A.R. from more than 90 local REALTOR ^® associations and MLSs statewide. The statewide annualized sales figure represents what would be the total number of homes sold during 2019 if sales maintained the July pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales.

July’s sales figure was up 5.6 percent from the 389,730 level in June and up 1.1 percent from home sales in July 2018 of 407,030.

“Mortgage rates that dipped to the lowest level in nearly three years has helped reduce monthly mortgage payments for the past five consecutive months, giving buyers more purchasing power,” said C.A.R. President Jared Martin. “The boost in demand gave the housing market its first yearly gain since April 2018.”

After setting record prices for the past three months straight, the median price pulled back from June’s $610,720 but still registered higher than the previous year. July’s median price was $607,990, down 0.4 percent from June and up 2.8 percent from $591,230 in July 2018, marking the fourth straight month that the median price remained above $600,000.

“While it’s encouraging that home sales crept higher in July, the market will continue to be challenged by an overarching affordability issue, especially in high cost areas such as the Bay Area, which requires a minimum annual income well into the six figures to purchase a home,” said C.A.R. Senior Vice President and Chief Economist Leslie Appleton-Young.

Other key points from C.A.R.’s July 2019 resale housing report include:

Note: The County MLS median price and sales data in the tables are generated from a survey of more than 90 associations of REALTORS ^® throughout the state and represent statistics of existing single-family detached homes only. County sales data are not adjusted to account for seasonal factors that can influence home sales. Movements in sales prices should not be interpreted as changes in the cost of a standard home. The median price is where half sold for more and half sold for less; medians are more typical than average prices, which are skewed by a relatively small share of transactions at either the lower-end or the upper-end. Median prices can be influenced by changes in cost, as well as changes in the characteristics and the size of homes sold. The change in median prices should not be construed as actual price changes in specific homes.

*Sales-to-list-price ratio is an indicator that reflects the negotiation power of home buyers and home sellers under current market conditions. The ratio is calculated by dividing the final sales price of a property by its last list price and is expressed as a percentage. A sales-to-list ratio with 100 percent or above suggests that the property sold for more than the list price, and a ratio below 100 percent indicates that the price sold below the asking price.

**Price per square foot is a measure commonly used by real estate agents and brokers to determine how much a square foot of space a buyer will pay for a property. It is calculated as the sale price of the home divided by the number of finished square feet. C.A.R. currently tracks price-per-square foot statistics for 50 counties.

Leading the way…® in California real estate for more than 110 years, the CALIFORNIA ASSOCIATION OF REALTORS® ( www.car.org ) is one of the largest state trade organizations in the United States with more than 200,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.

# # #

July 2019 County Sales and Price Activity
(Regional and condo sales data not seasonally adjusted)

r = revised

NA = not available

July 2019 County Unsold Inventory and Days on Market
(Regional and condo sales data not seasonally adjusted)

rNA = not available

California Home Sales and Price Activity

Fri, 17 May 2019 22:10:00 GMT

ONE WARM COAT DRIVE

Mon, 12 Nov 2018 22:30:00 GMT

FOR IMMEDIATE RELEASE

Contact Name: Diana Escobar

Daytime Phone Number: 925.255.6320

Contact email: PPM4rent@aol.com

Professional Property Management Seeks Coat Donations

Professional Property Management and One Warm Coat ^® ,

spreading warmth…one coat at a time.

[El Sobrante, Calfornia, November 15, 2018 – Professional Property Management is hosting a coat drive to collect clean, gently worn, warm coats on November 15, 2018 thru January 31, 2019 between 9:00 AM and 5:00PM at 5054 El Portal Drive, Suite C, El Sobrante, CA . Area residents are invited to make a difference in our local community by donating to the coat drive and helping Professional Property Management reach their goal of collecting 500 coats and $1,000.00 dollars.

“We are so excited about our upcoming One Warm Coat drive and hope the community will support us. There are nearly 50 million Americans currently living in poverty and struggling to provide a warm coat for themselves or their families. One Warm Coat’s program helps us keep all of the coats we collect in this community, which will make a big difference for our neighbors who need a coat” said Coat Drive Ambassador and Professional Property Management’s Assistant Manager, Diana Escobar and Gene Smith, President.

Customers who do not have a coat to donate can still get involved:

Each year, hundreds of thousands of gently worn coats are distributed across North America to children, women and men in need through One Warm Coat’s Coat Drive program. “We are so grateful for our partners like Professional Property Management! It is because of our incredible volunteers that we have been around for 26 years, helping get coats to our neighbors who need them. Thanks to Professional Property Management’s efforts, many people in this community will have a much warmer winter”, commented Jennifer Stockard, President and Chief Executive Officer of One Warm Coat.

One Warm Coat is a national non-profit organization that works to provide a free, warm coat to any person in need and raises awareness of the vital need for warm coats. One Warm Coat supports individuals, groups, companies and organizations across the country by providing the tools and resources needed to hold a successful coat drive. Coats are distributed in the communities where they were collected, to any person in need, without charge, discrimination or obligation. Over the past 26 years, One Warm Coat has worked with its volunteers to give away nearly 5 million coats.

Professional Property Management is a full service Real Estate Brokerage specializing in Residential and Commercial Real Estate Leasing, Management and Sale throughout the East Bay Area. Professional Property Management is located at 5054 El Portal Drive, Suite C, El Sobrante, CA 94803 510-758-5636 DRE 01902148 PPM4rent@aol.com

###

California median home price sets new record as home sales dial back, C.A.R. reports

Mon, 25 Jun 2018 18:48:00 GMT

June 19, 2018

California median home price sets new record as home sales dial back , C.A.R. reports

– Existing, single-family home sales totaled 409,270 in May on a seasonally adjusted annualized rate, down 1.8 percent from April and down 4.6 percent from May 2017.

– May’s statewide median home price was $600,860, up 2.8 percent from April and 9.2 percent from May 2017, hitting a new high for the first time in more than 10 years.

– Homebuyers in San Francisco County paid an average of 18 percent higher than asking price, as the average price per square foot in the county reached more than $1,000.

LOS ANGELES (June 19) – California’s median home price reached a new high in May, while home sales retreated both on a monthly and annual basis, wiping out most of the gains posted for the year, the CALIFORNIA ASSOCIATION OF REALTORS ^® (C.A.R.) said today.

Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 409,270 units in May, according to information collected by C.A.R. from more than 90 local REALTOR ^® associations and MLSs statewide. The statewide annualized sales figure represents what would be the total number of homes sold during 2018 if sales maintained the May pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales.

May’s sales figure was down 1.8 percent from the revised 416,750 level in April and down 4.6 percent compared with home sales in May 2017 of 428,870. May marked the first year-over-year sales decline in four months and the lowest sales level in more than a year.

“The softening in May home sales was due in part to the spike in interest rates in mid-April, when the 30-year fixed mortgage rate jumped 20 basis points in just one week to reach the highest level since 2014,” said C.A.R. President Steve White. “Homebuyers may have postponed escrow closings to wait out the effects of the rate surge. Additionally, the specter of rate increases earlier in the year may have pulled sales forward into the first quarter, which resulted in the subpar performance in the last couple of months. Looking ahead, higher mortgage rates and elevated home prices will heighten affordability constraints that will likely temper the housing market in the coming months.”

For the first time in 11 years, the statewide median home price surpassed its previous peak price of $594,530, which was recorded more than 10 years ago during the last housing boom. The May statewide median price was $600,860, up 2.8 percent from a revised $584,460 in April and up 9.2 percent from a revised $550,230 in May 2017. The year-over-year price growth pace was the highest rate of growth since May 2014.

The statewide median price per square foot rose to $286 in May, the highest figure since November 2007, and marks “real” growth in home values rather than a shift in the market toward sales of larger or higher-end homes. However, with the Bay Area outperforming the rest of the state, there is undoubtedly some pressure on the median price as the Bay Area made up a larger share of home sales.

“As we predicted last month, California’s statewide median home price broke the previous pre-recession peak set in May 2007 and hit another high as tight supply conditions continued to pour fuel on the price appreciation fire,” said C.A.R. Senior Vice President and Chief Economist Leslie Appleton-Young. “With inventory starting to show signs of improvement, however, home price appreciation could decelerate in the second half of the year, especially since further rate increases are expected to hamper homebuyers’ affordability and limit how much they are willing to pay for their new home.”

Other key points from C.A.R.’s May 2018 resale housing report include:

Graphics (click links to open):

Note: The County MLS median price and sales data in the tables are generated from a survey of more than 90 associations of REALTORS® throughout the state and represent statistics of existing single-family detached homes only. County sales data are not adjusted to account for seasonal factors that can influence home sales. Movements in sales prices should not be interpreted as changes in the cost of a standard home. The median price is where half sold for more and half sold for less; medians are more typical than average prices, which are skewed by a relatively small share of transactions at either the lower-end or the upper-end. Median prices can be influenced by changes in cost, as well as changes in the characteristics and the size of homes sold. The change in median prices should not be construed as actual price changes in specific homes.

*Sales-to-list price ratio is an indicator that reflects the negotiation power of home buyers and home sellers under current market conditions. The ratio is calculated by dividing the final sales price of a property by its last list price and is expressed as a percentage. A sales-to-list ratio with 100 percent or above suggests that the property sold for more than the list price, and a ratio below 100 percent indicates that the price sold below the asking price.

Leading the way…® in California real estate for more than 110 years, the CALIFORNIA ASSOCIATION OF REALTORS® ( www.car.org ) is one of the largest state trade organizations in the United States with more than 190,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.

# # #

May 2018 County Sales and Price Activity
(Regional and condo sales data not seasonally adjusted)

r = revised

May 2018 County Unsold Inventory and Time on Market
(Regional and condo sales data not seasonally adjusted)

r = revised

SALES AND PRICE ACTIVITY REGIONAL

Tue, 03 Apr 2018 17:08:00 GMT

GOODBYE INCOME TAX DEDUCTIONS. HOW MUCH WILL IT COST YOU….

Wed, 29 Nov 2017 02:22:00 GMT

SHARE THE WARMTH…

Thu, 19 Oct 2017 18:31:00 GMT

FOR IMMEDIATE RELEASE

Contact Name: Diana Escobar

Contact email: PPM4rent@aol.com

Professional Property Management Seeks Coat Donations

Professional Property Management and One Warm Coat ^® ,

spreading warmth…one coat at a time.

[El Sobrante, Calfornia, October, Day,2017 – Professional Property Management is hosting a coat drive to collect clean, gently worn, warm coats on October 16, 2017 thru January 31, 2018 between 9:00 AM and 5:00PM at 5054 El Portal Drive, Suite C, El Sobrante, CA . Area residents are invited to make a difference in our local community by donating to the coat drive and helping Professional Property Management reach their goal of collecting 500 coats and $1,000.00 dollars.

Customers who do not have a coat to donate can still get involved:

Each year, hundreds of thousands of gently worn coats are distributed across North America to children, women and men in need through One Warm Coat’s Coat Drive program. “We are so grateful for our partners like Professional Property Management! It is because of our incredible volunteers that we have been around for 25 years, helping get coats to our neighbors who need them. Thanks to Professional Property Management’s efforts, many people in this community will have a much warmer winter”, commented Jennifer Stockard, President and Chief Executive Officer of One Warm Coat.

One Warm Coat is a national non-profit organization that works to provide a free, warm coat to any person in need and raises awareness of the vital need for warm coats. One Warm Coat supports individuals, groups, companies and organizations across the country by providing the tools and resources needed to hold a successful coat drive. Coats are distributed in the communities where they were collected, to any person in need, without charge, discrimination or obligation. Over the past 25 years, One Warm Coat has worked with its volunteers to give away nearly 5 million coats.

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Tue, 18 Jul 2017 22:55:00 GMT

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Fri, 26 May 2017 23:00:00 GMT

CALIFORNIA MARKET UPDATE!! IS IT TIME FOR YOU TO SELL?? CALL US FOR A FREE VALUATION

Sun, 14 May 2017 17:48:00 GMT

Apartment Owners Targeted for Huge Tax Increase!

Thu, 11 May 2017 17:11:00 GMT

Apartment Owners Targeted for Huge Tax Increase!

Provided by Apartment Owners Association, May 2017

That is, unless you and I raise our voices before they raise our taxes. As you may have heard, you are a part of that “1%” the politicians talk about. You see, they also look at your wealth even though they only talk about people with incomes of over $250,000 a year. As long-time real estate investors, you and I have much more wealth than most of those people who have yearly earnings of $250,000!

The difference? Most of them spend the $250,000, while you saved a part of whatever you earned. Apartment owners who have never earned over $50,000 a year from their jobs are worth millions and the politicians know it. They never talked about it because they wanted to suck in as many sheep as possible by getting voters to think bad things about high income people. They succeeded at getting the voters to think ill of everybody who was financially successful.

It’s now your turn! The politicians will be trying to turn voters against so-called “rich property owners” as they carry over this idea of creating ill will between the “haves” and the “have-nots”. In fact, you may have noticed that the news media is already dropping the 1% term and replacing it with “the wealthy”.

How Will They Do It?

The first thing that comes to mind is Proposition 13. The politicians have spent more money than they have forced us to pay and now they “need” more and more and more. So how can they get it? Simple – just change the rules that have protected property owners for so many years. Change Prop13 and they can raise property taxes on the “rich” commercial property owners. This is now possible because they have, for the first time, a 2/3 majority in both the Senate and the Assembly. The only way they can spend big is if they tax big and you are now their target!

Who Will Support The Politicians Doing This?

If they don’t touch homeowners, they will be able to pass their tax increases without much opposition. Only 1%-2% of the voters own commercial property. They can easily pit all the homeowners against the “rich commercial property owners” and keep the votes of the other 98%. It worked by tricking the voters in the last election to be in favor of taxing the “rich” who earned over $250,000. Many of these voters did not realize that they would probably be next. Just as these homeowners are now totally unaware that the politicians will eventually come after them too!

“Nothing But The Facts”

All apartment owners and other commercial property owners throughout the state must join together immediately. Don’t wait before you join together and do your part. Please don’t leave it up to AOA or any other organization. YOU are AOA and you are the intended victim that they are going after and nobody else is more interested in keeping your property taxes from skyrocketing than YOU! All organizations in favor of property rights and/or lower taxes must join hands and ask their members to do two things right now.

Do It Now!

Number One: Write the Assemblyperson and the State Senator who represents you. You can get their name and address by going to http://senate.ca.gov/senators or http://assembly.ca.gov/assemblymembers . Explain to them how draconian a tax increase would be at this time and ask them to please lower the spending part of their budget. Tell them how you would personally be affected if that would help. Also tell them that the people voted Prop13 in and that it seems wrong for them to change it without a vote of the people. You might ask them to reduce spending instead of raising taxes.

Number Two: Donate, donate and donate some more! You can donate online at http://www.aoausa.com/govabuse/ or send a check payable to the AOA Political Action Committee and mail it to AOA PAC at 6445 Sepulveda Blvd., Suite 300, Van Nuys, CA 91411 TODAY! Why not do it now before you stop reading this article or you will just forget about it until you receive your property tax bill with a huge increase of thousands of dollars. I’m sure you don’t want to send thousands of more dollars to the politicians to waste in Sacramento. So instead, send a much smaller check today to the AOA PAC. (As you know, political action costs money and your tenants are certainly not going to join together with your side. If you want the job done, you are the one who is going to have to do it.)

Your dollars will be put together with other organizations as we unite in strength to stop this nonsense of raising your taxes.

P.S. Please visit http://www.aoausa.com/govabuse/ to donate at least $50 for every unit you own or control. More would be even better. Keep in mind that this project is just for you, and if lost, you will be paying many thousands of dollars more in taxes from now until forever! I know that you care, so let me hear from you today. Thank you for your support!!

CALIFORNIA has an OUT- MIGRATIONS ACROSS THE USA

Tue, 28 Feb 2017 00:10:00 GMT

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Wed, 18 Jan 2017 01:34:00 GMT

CITY OF RICHMOND RENT CONTROL. PPM IS YOUR LOCAL RENT CONTROL SPECIALIST!!!!

Wed, 04 Jan 2017 00:03:00 GMT

RENT CONTROL IS NOW IN RICHMOND.. IT IS COMPLICATED and EVOLVING AS WE GO. PPM IS YOUR RENT CONTROL SPECIALIST WITH ATTORNEYS on BOARD TO ADVISE……DON’T GO AT IT ALONE. CALL PPM to MANAGE YOUR PROPERTY.

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http://www.ci.richmond.ca.us/ArchiveCenter/ViewFile/Item/6688

SHARE THE WARMTH of the SEASON!! Drop off your gently worn coats!

Fri, 04 Nov 2016 22:04:00 GMT

El Sobrante, California, November 3, 2016 – Forty-five million Americans are currently living in poverty. For these families and individuals, a warm coat is a budget extra they simply cannot afford. Professional Property Management invites area residents to make a difference in your neighbor’s lives by donating coats and dollars during our upcoming coat drive!
Professional Property Management is working with O ne Warm Coat to collect clean, gently used warm coats, and dollars to support the coat drive program, on November 3th through January 30 between 9 AM and 5 PM at 5054 El Portal Drive El Sobrante. The process is simple: you drop off your extra coat(s) and Professional Property Management takes care of the rest. All donated coats will be given to a local agency for distribution to local children and adults in need.
Customers who do not have a coat to donate can still get involved:
• Text “WARM” to 80100 to donate $10 to One Warm Coat
• Visit www.onewarmcoat.org/donate .
“For more than 20 years we have been working to provide a warm coat to anyone who needs one. We are so thankful for our many coat drive ambassadors, like Professional Property Management, who volunteer their time, resources and energy to help their neighbors in need. Together, we can reach our goal of warming one million people each winter, one community at a time!” commented Jennifer Stockard, President and Chief Executive Officer of One Warm Coat.
One Warm Coat is a national non-profit organization that works to provide a free, warm coat to any person in need and raises awareness of the vital need for warm coats. One Warm Coat supports individuals, groups, companies and organizations across the country by providing the tools and resources needed to hold a successful coat drive. Coats are distributed in the communities where they were collected, to any person in need, without charge, discrimination or obligation. Since its inception in 1992, One Warm Coat has worked with its volunteers to give away over 4 million coats. www.onewarmcoat.org
Text to Give: $10 will be charged to your mobile phone account. For One Warm Coat’s Privacy Policy, go to http://onewarmcoat.org/privacy/ . By texting YES, you agree to the terms and conditions. Service is available on most carriers. Message & data rates may apply. Donations are collected for the benefit of One Warm Coat by the Mobile Giving Foundation and subject to the terms found at www.hmgf.org/t . You can unsubscribe at any time by texting STOP to 80100. For help, text HELP to80100

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Wed, 19 Oct 2016 22:14:00 GMT

SELL or STAY!!! Either Way Call PPM to a FREE MARKET VALUATION

Mon, 10 Oct 2016 21:42:00 GMT

Thinking of Buying a HOME?? PPM can HELP! Your Mortgage might be lower than your Rent………….

Tue, 04 Oct 2016 18:08:00 GMT

San Francisco Bay Area Home Sales Tumble in H1-2016

Mon, 29 Aug 2016 10:09:00 GMT

San Francisco Bay Area Home Sales Tumble in H1-2016

Down 10.3 Percent from 2015, Lowest Since 2008

CALIFORNIA, AUGUST 11, 2016 – In the first half of 2016 (January through June), San Francisco Bay Area single-family home and condominium sales fell 10.3 percent relative to the same period in 2015. Sales were the lowest since 2008.

Despite the slowdown in sales, median home prices continued to rise upwards to what might be described as new levels of unaffordability. Within the six Bay Area counties included in this study, San Francisco, Marin, Alameda, Contra Costa, San Mateo and Santa Clara, the increase in median home prices from June 2015 to June 2016 ranged from a low 6.5 percent (San Francisco) to a high of 14.3 percent (Marin).

Change in Bay Area Home Sales and Prices (January through June Totals)

“The slowdown in Bay Area sales has given rise to the concern that we are in the midst of another real estate bubble getting ready to pop,” said Schnapp. “This time around, the factors that contributed to the 2006 real estate bubble are largely absent. Factors such as large numbers of poor quality borrowers, easy availability of high-risk adjustable rate mortgages with 100 percent financing and a Federal Reserve that was raising interest rates, are not in play today.”

“The biggest hurdle to the Bay Area housing market has nothing to do with the economy,” said Schnapp. “Blame restrictive zoning and burdensome building regulations that limit building and add to the cost of construction. Until those issues are addressed, we expect sluggish sales to continue well into 2017.”

“In our view, Bay Area real estate is a tough market that is largely unaffordable,” said Schnapp. “That being said, we don’t see the current trend of sluggish sales and high prices leading to a repeat of 2008.”

San Francisco Bay Area Home Sales

San Francisco Bay Area Median Home Price

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Landlord New Bill Update

Wed, 24 Aug 2016 00:52:00 GMT

New Senate and Assembly Bills that Impact Property Owners, Housing Availability and Affordability – By Joe Washburn

Posted on 01. Aug, 2016 by AOL of California

Requires unlawful detainer proceedings to be hidden permanently unless the property owner prevails on a default judgment, summary judgment, trial, or stipulations by all parties. Allows rent cheats to hide their bad actions and perpetrate harm on other property owners by keeping the unlawful detainer proceedings hidden from public view.

AB 2003 – Neutralizes Tenant Delay Tactics

Once an unlawful detainer has been served, this requires the venue for trial to be the court most proximal to the property involved. Grants the landlord immediate access to the property if the tenant filed a claim of inhabitability. AB 2003 is not positive for small property owners.

AB 2502 – Rent Controlled Inclusionary Housing

Increases the cost and reduces the supply of housing by authorizing local governments as a condition of development, to impose a costly and inflexible price-controlled inclusionary housing requirement. In so doing, AB 2502 legislatively repeals an established court decision upholding developers’ ability to set initial rent rates for new dwelling units. Also, it undermines existing Cost-Hawkins protections by allowing local governments to impose mandatory inclusionary zoning, (i.e. rent control) on newly constructed rental housing without any consideration for the economic viability of the project.

SB 1053 – Forces Owners to Accept Section 8 Housing Vouchers.
Legislation died in Committee on March 27 ^th .

SB 1150 – Increases Risk and Cost of Residential Loans

This allows a party not on the mortgage to interfere with a lawful foreclosure. It also establishes new, lopsided, private rights of action with draconian penalties, injunctive relief and attorney’s fees only for the prevailing successor in interest. If passed into law, SB 1150 would probably the foreclosure process by additional months, if not years, if a property is involved in probate following a borrower’s death.

Joe Washburn is a SPOSFI member. Reprinted with permission of the Small Property Owners of San Francisco Institute (SPOSFI) News. F

Schools Rule!

Mon, 15 Aug 2016 22:44:00 GMT

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Mon, 08 Aug 2016 22:39:00 GMT

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Your Community Matters

Mon, 08 Aug 2016 17:18:00 GMT