sb9
The Next 4 years are set to become one of the largest California Real Estate Bonanzas
On September 16 Governor Newsom of California Signed into law SB9 This is a tremendous opportunity for existing California homeowners to add an Additional Dwelling unit to their existing Single-family Zoned property and even eventually subdivide it and sell it separately.SB( requires you to live in the property currently for three years minimum this is to stop speculators from Flipping properties Wholesale and to properly regulate the practice. Owners of a Single Family home who live in it could if the lot is large enough build 3 additional housing units subdivide and sell the properties. Large 20-acre Ranches zoned for only 1 home now could be subdivided into 4 separate lots and each with a home be sold separately. Historic SDesignations on buildings are excluded .
“This bill, among other things, would require a local agency to ministerially approve a parcel map for an urban lot split that meets certain requirements, including, but not limited to, that the urban lot split would not require the demolition or alteration of housing that is subject to a recorded covenant, ordinance, or law that restricts rents to levels affordable to persons and families of moderate, low, or very low income, that the parcel is located within a single-family residential zone, and that the parcel is not located within a historic district, is not included on the State Historic Resources Inventory, or is not within a site that is legally designated or listed as a city or county landmark or historic property or district.” https://leginfo.legislature.ca.gov/faces/billNavClient.xhtml?bill_id=202120220SB9
