Caroline Gerardo, C. G. Barbeau the Loan Lady nmls 324982 (Sun West Mortgage Corporation)

Spam prevention
Ambassador
5,027,909
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Every day, the rest of us are glad we do NOT live in California.

Jun 05, 2019 04:10 PM
Rainmaker
1,336,663
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Oh man, this is good.

 

Here is what I think the Bay Area Realtors should do:  Sue the city and file an injunction, claiming (truthfully) that it harms the owner's "right of full enjoyment" of property and their "restraint of trade."  I particularily like the part where the owner HAS to give the contact info of every unit resident to the company making the offer, regardless of the occupant's desire for privacy (let alone if the offer is even good).  Imagine the amount of data you could collect by offer $1 on every property to build a list of tenants to sell to a marketing company...  Sounds like there should be a privacy risk reason added on to the suit as well. 

 

Get the Bay Area AOR and CAR to join in and you can maybe even make it a class action.  Should take a while to get through the courts and you can continue to appeal to the 9th circuit (which has surprisingly ruled in our favor of late) and even up to the supreme court if needed.  Could delay the implementation of the law for many years.

Jun 05, 2019 05:40 PM
Rainmaker
3,827,480
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

I haven't seen/heard of this particular law but it is important to know/understand any of possible local restrictions that may exist. It seems to me on the surface to be an example of unintended consequences.

Jun 05, 2019 03:08 PM
Ambassador
3,932,557
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Oh, Ryan Huggins - Thousand Oaks, CA absolutely nailed your answer! YES!

Jun 05, 2019 09:21 PM
Rainmaker
1,660,245
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg Real Estate

sounds like an over reach & non-constitutional. SF is just having such problems with homelessness they've just lost their minds. I would say you'd really be in trouble trying to change your 3 flat into something else for profit.

Jun 05, 2019 03:17 PM
Rainmaker
1,609,571
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Lend Smart Mortgage, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

That is to broad of a reach of the government comrade

Jun 05, 2019 08:39 PM
Rainmaker
368,752
Buzz Mackintosh
Mackintosh REALTORS - Frederick, MD
“Experience, reliable, leadership”

Only in California..., But Washington DC has a law for multi-family dwellings that the owner must offer the property to current tenants to purchase prior to selling to someone who does not currently occupy the dwelling.

Jun 05, 2019 07:10 PM
Rainmaker
1,117,565
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

Makes no sense and I'm from SF.

Jun 05, 2019 09:15 PM
Ambassador
2,447,497
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate - St. George, UT
So Utah Residential, Referral & Relocation REALTOR

Sell one at a time...

Jun 05, 2019 03:36 PM
Rainmaker
5,535,622
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

keep that law and other similar laws in California..... we neither need nor want those laws....

Jun 05, 2019 03:34 PM
Ambassador
1,706,870
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Best answered by those in San Francisco

Jun 05, 2019 03:28 PM
Rainmaker
3,718,276
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Can't say I've given this any thought. It's a San Francisco law and not sure how it impacts us in Charlotte.

Jun 05, 2019 02:52 PM
Rainmaker
1,798,223
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co. Notary Services, retired Realtor

I hope this idea doesn't catch on Caroline Gerardo  (even though I'm retired).

Jun 05, 2019 07:30 PM
Ambassador
4,388,062
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

I hadn't heard of this. I don't quite see how this will solve the problem of homelessness, or the high price of housing and rentals! Will ask to check in with my San Francisco buds!

Jun 05, 2019 05:53 PM
Rainmaker
648,652
Peter Testa
Nationwide Homes - Danbury, CT
PETER TESTA

The non profits are getting 1st right to offer on these properties. It's a good time to be a non profit in CA. From the Seller's perspective they are now subject to restrictions on their sale & that may or may not be a negative for them.

Jun 05, 2019 05:03 PM
Rainmaker
1,584,930
Valeria Mola
SIB Realty - Miami, Sunny Isles Beach - Sunny Isles Beach, FL
305-607-0709 SIB Realty Condos for Sale and Rent

Interesting. We don't have it in Florida.

Jun 05, 2019 04:50 PM
Rainmaker
6,158,892
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Interesting.

Jun 05, 2019 05:52 PM
Rainmaker
1,602,367
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

Wow! That's interesting.

Jun 05, 2019 05:46 PM
Rainer
324,869
Derrick Guevremont
Counselor Realty of Rochester - Rochester, MN
Rochester MN Homes for Sale

If you really want to make a ton of money, start a non-profit.

Jun 05, 2019 05:46 PM
Rainmaker
2,057,703
Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL
www.SIBRealty.org 305-931-6931

Interesting. Thank you.

Jun 05, 2019 03:37 PM
Rainmaker
3,718,060
Richard Weeks
Dallas, TX
REALTOR®, Broker

What about it?  The movie Idiocracy comes to mind.

Jun 06, 2019 02:27 AM
Rainmaker
5,169,326
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Caroline,

San Francisco dances to the beat of a different drum...It is on par with the Twinkie defense and other crazy things.  A

Jun 05, 2019 04:43 PM
Rainmaker
3,847,330
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Sounds like a violation of freedom of alienation, but it is California and it must be something in the water!

Jun 06, 2019 05:12 AM
Rainmaker
835,690
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

Very interesting. San Francisco is a very progressive city. What starts there, sometimes, but not always, spreads to other parts of California. This law will generate much cash for attorneys.

Quoted from the  linked article:

Will COPA be ruled Illegal?

Two (2) San Francisco property owner associations have teamed up to hire litigation counsel, and we understand that a lawsuit will be filed within the next hundred (100) days. Those groups hope to obtain an injunction to stop implementation of the law. Without an injunction, it may take over a year for the law to be declared illegal, and compliance will be required in the interim. Many San Francisco Superior Court judges are very progressive, and it is sometimes the case that property owners do not succeed until a case is heard by an appellate court.

Jun 05, 2019 09:40 PM
Rainmaker
1,570,576
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

What? interesting.....

Jun 06, 2019 05:04 PM
Rainmaker
937,910
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Well, that's whacky CA for you...lol

Jun 06, 2019 01:04 PM
Rainmaker
372,453
Sally Lawrence
Advantage Real Estate - Tehachapi, CA
Broker, CHS, e-Pro, SFR, REALTOR®

It occurs to me that because the "right of first offer" is required to occur before the property can be placed on the MLS or otherwise offered for sale the law is now creating pocket listings and violoating CAR MLS Model Rules.  Interesting concept on so many levels.  Thanks for bringing this one up, @Caroline Gerado

Jun 06, 2019 08:33 AM
Rainmaker
1,071,904
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

A 1st right of refusal given without being compensated? Ridiculous!

Jun 06, 2019 08:14 AM
Rainmaker
2,947,568
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

California ... The Official Land of Oz.

I am native born ... so I have license/birth certificate to say that!

Jun 06, 2019 07:56 AM
Rainmaker
849,160
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

Hmm, I understand the intent, but the reality is this is another California perversion.

At this time in Pinellas County Fl, non-profits have MASSIVE land holding in this area. This law has an insidious behind the curtain story that has little to do with affordable house and everything to do with acquisition.

Any entitlement group can launch a smear campaign when their offer is rejected. And the press feels compelled to amplify the perversions.

I have worked with investors who actually instructed me NOT to present them with available property that has not been available to the public for less than 30 days. They wanted the 1st time buyer to give it their best shot.

Non-profits with their perversions SHOULD NOT be given preferential treatment. The local gov't have immense power to re-develop if that is their intent. This is a power grab.

My disappointment is I did not find a easy way to connect this to Nancy...hmmm, is she involved with land grabbing non-profits?

Jun 06, 2019 05:26 AM
Ambassador
2,330,495
MichelleCherie Carr Crowe Just Call...408-252-8900
Get Results Team...Just Call (408) 252-8900! . DRE #00901962 . Licensed to Sell since 1985 . Altas Realty - San Jose, CA
Family Helping Families Buy & Sell Homes 40+ Years

Sounds like a good intention went frighteningly wrong.

Jun 06, 2019 11:20 AM
Rainmaker
2,589,794
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

At some point, you will have another IRS with all these gibberish laws

Jun 06, 2019 06:37 AM
Rainmaker
842,661
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

🎶If you're going to San Francisco

Be sure to wear your tinfoil hat

And heavy shoes so you don't step on needles🎶

Bizarro World Lives!

Jun 06, 2019 06:10 AM
Rainmaker
1,119,151
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

interesting

Jun 06, 2019 05:58 AM
Rainmaker
688,874
Carla Freund
Keller Williams Preferred Realty - Raleigh, NC
Carolina Life RealEstate & Relocation 919-602-8489

Interesting. I'm glad we don't have this here. 

Jun 06, 2019 04:46 AM
Rainmaker
4,558,528
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

OH MY, have to agree with Bob.

Jun 20, 2019 10:41 AM
Rainmaker
3,656,164
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Do not know that we have that in our state.

 

Jun 08, 2019 05:39 PM
Ambassador
3,164,624
Anna Banana Kruchten CRS CRB, Phoenix Broker
HomeSmart Real Estate BR030809000 - Phoenix, AZ
602-380-4886

CA what can I say......gets stranger and stranger.

Jun 06, 2019 01:55 PM