2022 – A Year In Review
By: D. Keith Dunnagan, Esq. and Carl H. Block, Esq.
December 30, 2022
As I look back on 2022 – I ask myself – where did it go. It seems like 2022 just flew by. I feel like yesterday I was writing about 2021 and now we are wrapping up 2022.
It seems as though 2022 was a tale of two stories. Coming into 2022 the housing market was booming. Interest rates remained low, values continued to climb and wall street was racing to new records. As the markets raced up, inflation took off as well. Energy prices, food and fuel hit new highs. In an effort to curb inflation the Fed instituted significant rate hikes and the market responded. By summer Wall Street was declining and housing prices were cooling significantly. As we ponder the financial decisions made, we begin to question when the markets will return to some normalcy. For the last couple years the markets have accelerated at an unsustainable pace.
The California Assembly and Senate were each busy with legislation to make housing more affordable and to increase the availability of housing. An example of a bill to improve housing affordability is SB 197, which allocates additional funds to CalFHA to fund a new equity sharing down payment assistance program entitled the California Dream for All Program plus provides funding for low cost loans to homeowners seeking to construct auxiliary dwelling units (ADUs). Bills that help increase the availability of housing include SB 6 which provides a statutory allowance for housing development projects on a parcel that is in a zone where parking, retail, or office space are principally permitted; AB 2221 seeks to resolve some of the roadblocks to obtaining permits for ADUs; and AB 1410 bans HOAs from placing restrictions on an owner who wants to rent out a portion of their property when the owner still lives at the residence
For BPE, we launched our Washington office and we are providing valuable services to the people of Central Washington to compliment our legal service offerings in California and Nevada. We said goodbye to a few friends and welcomed many more friends to the friendly halls of BPE Law. We are truly grateful for the trust all of you have put in our company and we are honored that you trust us with your legal needs.
Have a Happy Holiday Season and a Prosperous New Year!
The attorneys of the BPE Law Group, P.C., have been advising our clients on real estate and business issues for over 20 years. If you have questions concerning any legal matter, give us a call at (916) 966-2260 or e-mail Keith at kbdunnagan@bpelaw.com. Our flat fee consult for new clients may get you the answers you need for the questions you have.
The information presented in this article is not to be taken as legal advice. Every person’s situation is different. If you are facing a legal issue of any kind, get competent legal advice in your State immediately so that you can determine your best options
Recent and Popular Articles From Our Blog:
2020 Blogs:
- April 28 – A New Reality – Temporary or Permanent – Virtual Showings and Disclosures
- May 22 – Servant Leadership
- June 8 – Paycheck Protection Program Flexibility Act is Enacted
- June 10 – Impact to Credit Score After Filing Chapter 7 Bankruptcy
- June 26 – SBA Rolls Out Updated PPP Loan Forgiveness Application
- July 2 – Understanding the Home Equity Sales Contract Act 2020
- July 14 – Governor Rolls Back Re-Opening
- August 4 – August 2020 COVID-19 Update
- August 18 – Status Of Selected California State Operations re: COVID-19
- September 1 – COVID Update on Foreclosures and Evictions
- September 3 – State Passes AB 3088
- September 15 – Update on PPP Forgiveness and Impacts
- November 10 – Changes to the Fair Housing and Discrimination Advisory CAR Form
- November 24 – In a Season of Difficulty – We Choose Gratitude
- December 15 – Cal/OSHA Issues New COVID Prevention Rule
2021 Blogs:
- January 5 – Introduction to New Laws 2021
- January 26- Rain and the Prevalence of Failure to Disclose Claims
- February 2 – California Enacts COVID Tenant Relief Act (SB 91)
- March 9 – Understanding the Trust Exception to Real Estate Disclosures
- April 20 – Cash for Keys and SB 91
- May 4 – Help! Tenant Won’t Cooperate with Sale of Home
- May 11 – California Passes AB 80
- June 15 – Pinhole Leaks in Copper Pipes in Folsom
By: D. Keith Dunnagan, Esq. and Carl H. Block, Esq.
December 30, 2022
As I look back on 2022 – I ask myself – where did it go. It seems like 2022 just flew by. I feel like yesterday I was writing about 2021 and now we are wrapping up 2022.
It seems as though 2022 was a tale of two stories. Coming into 2022 the housing market was booming. Interest rates remained low, values continued to climb and wall street was racing to new records. As the markets raced up, inflation took off as well. Energy prices, food and fuel hit new highs. In an effort to curb inflation the Fed instituted significant rate hikes and the market responded. By summer Wall Street was declining and housing prices were cooling significantly. As we ponder the financial decisions made, we begin to question when the markets will return to some normalcy. For the last couple years the markets have accelerated at an unsustainable pace.
The California Assembly and Senate were each busy with legislation to make housing more affordable and to increase the availability of housing. An example of a bill to improve housing affordability is SB 197, which allocates additional funds to CalFHA to fund a new equity sharing down payment assistance program entitled the California Dream for All Program plus provides funding for low cost loans to homeowners seeking to construct auxiliary dwelling units (ADUs). Bills that help increase the availability of housing include SB 6 which provides a statutory allowance for housing development projects on a parcel that is in a zone where parking, retail, or office space are principally permitted; AB 2221 seeks to resolve some of the roadblocks to obtaining permits for ADUs; and AB 1410 bans HOAs from placing restrictions on an owner who wants to rent out a portion of their property when the owner still lives at the residence
For BPE, we launched our Washington office and we are providing valuable services to the people of Central Washington to compliment our legal service offerings in California and Nevada. We said goodbye to a few friends and welcomed many more friends to the friendly halls of BPE Law. We are truly grateful for the trust all of you have put in our company and we are honored that you trust us with your legal needs.
Have a Happy Holiday Season and a Prosperous New Year!
The attorneys of the BPE Law Group, P.C., have been advising our clients on real estate and business issues for over 20 years. If you have questions concerning any legal matter, give us a call at (916) 966-2260 or e-mail Keith at kbdunnagan@bpelaw.com. Our flat fee consult for new clients may get you the answers you need for the questions you have.
The information presented in this article is not to be taken as legal advice. Every person’s situation is different. If you are facing a legal issue of any kind, get competent legal advice in your State immediately so that you can determine your best options
Recent and Popular Articles From Our Blog:
2020 Blogs:
- April 28 – A New Reality – Temporary or Permanent – Virtual Showings and Disclosures
- May 22 – Servant Leadership
- June 8 – Paycheck Protection Program Flexibility Act is Enacted
- June 10 – Impact to Credit Score After Filing Chapter 7 Bankruptcy
- June 26 – SBA Rolls Out Updated PPP Loan Forgiveness Application
- July 2 – Understanding the Home Equity Sales Contract Act 2020
- July 14 – Governor Rolls Back Re-Opening
- August 4 – August 2020 COVID-19 Update
- August 18 – Status Of Selected California State Operations re: COVID-19
- September 1 – COVID Update on Foreclosures and Evictions
- September 3 – State Passes AB 3088
- September 15 – Update on PPP Forgiveness and Impacts
- November 10 – Changes to the Fair Housing and Discrimination Advisory CAR Form
- November 24 – In a Season of Difficulty – We Choose Gratitude
- December 15 – Cal/OSHA Issues New COVID Prevention Rule
2021 Blogs:
- January 5 – Introduction to New Laws 2021
- January 26- Rain and the Prevalence of Failure to Disclose Claims
- February 2 – California Enacts COVID Tenant Relief Act (SB 91)
- March 9 – Understanding the Trust Exception to Real Estate Disclosures
- April 20 – Cash for Keys and SB 91
- May 4 – Help! Tenant Won’t Cooperate with Sale of Home
- May 11 – California Passes AB 80
- June 15 – Pinhole Leaks in Copper Pipes in Folsom