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A Guide to Understanding Residential Subdivisions in California Alberto Esquive

A Guide to Understanding Residential Subdivisions in California Alberto Esquivel Jaime R. Alvayay 2014 A Guide to Understanding Residential Subdivisions in California Alberto Esquivel College of Continuing Education California State University, Sacramento Jaime R. Alvayay CSU Real Estate & Land Use Institute and College of Continuing Education California State University, Sacramento California Bureau of Real Estate www.bre.ca.gov DISCLAIMER: This Guide is designed to provide accurate and authoritative information regarding the subject matter covered as of the publication. The Guide is offered with the understanding that the California Bureau of Real Estate, the California State University, Sacramento, and the authors and editors of the Guide, are not engaged in rendering legal, tax, accounting or other professional advice, and the Guide is not a substitute for the advice of a licensed attorney or other professional. If legal advice or other expert assistance is required, the services of a competent attorney or other professional should be sought. A Guide to Understanding Residential Subdivisions in California i ABOUT THE AUTHORS Jaime R. Alvayay – Project/Research Director Dr. Alvayay is a professor of real estate and business statistics at California State University, Sacramento and Executive Director of the CSU – Real Estate & Land Use Institute (RELUI). He received a M.A. in Banking and Finance and a Ph.D. in Financial Economics from the University of Georgia. He has taught Business Statistics, Corporate Finance, Housing and Mortgage Markets, and Real Estate Finance and Investments. His research has been published in Structural Change and Economic Dynamics, Review of Quantitative Finance and Accounting, Real Estate Economics, Journal of Real Estate Research, Journal of Real Estate Literature, Journal of Real Estate Portfolio Management, Land Economics Review, Appraisal Review Journal, and Industrial Development Journal. His work has received awards from the Homer Hoyt Institute and the Industrial Development Research Council. Dr. Alvayay has worked for the Chilean National Development Corporation and the Central Bank of Chile. He also has held managerial positions in industry and agriculture and was vice president and partner of a consulting company. He has been a member of the Board of Directors of the International Real Estate Society, the Editorial Board of the Journal of Real Estate Literature, International Section, and has served as referee for Real Estate Economics, the Journal of Real Estate Research, and the Journal of Real Estate Literature. Alberto Esquivel - Subject Matter Expert Mr. Esquivel is a real estate broker, project manager, and land use consultant with more than 23 years’ experience in real estate development in northern California. Mr. Esquivel’s career includes both private sector and public sector experience in land development and residential development. Since 1996, Mr. Esquivel has focused on redevelopment, housing development, and land use in urban areas. Mr. Esquivel’s experience includes management of: · Township 9, a 65-acre mixed-use, transit-oriented master planned redevelopment project north of downtown Sacramento consisting of 2,350 housing units, 800,000 square feet of office, 160,000 square feet of retail, and 26 acres of open space in downtown Sacramento · The Rivers, a 210-acre conversion of the former Lighthouse Golf Course into a master-planned residential community of approximately 1,200 dwelling units in West Sacramento · The Fremont Building, a mixed-use building containing 69 apartments and 12,000 square-feet of retail at 16th and P streets in midtown Sacramento · Capitol Park Homes, a residential subdivision containing 64 for-sale, single-family detached homes on two city blocks bounded by 12th, 14th, P & Q streets in midtown Sacramento · 1801 L Street Building, which consists of 176 apartments and 9,600 square feet of retail in midtown Sacramento · L Street Lofts, 92 mid-rise loft condominiums in midtown Sacramento Mr. Esquivel previously served as an Assistant Director with the Sacramento Housing and Redevelopment Agency. Mr. Esquivel is a part-time lecturer of real estate and land use courses at California State University, Sacramento. Mr. Esquivel holds a B.S. in Business Administration from California State University, Sacramento and an MBA from the J.L. Kellogg Graduate School of Management at Northwestern University in Illinois. Mr. Esquivel is a graduate of the Sacramento Chamber of Commerce’s Leadership Program. He has previously served as a Commissioner on the Sacramento Development Oversight Commission, and the Kellogg School’s Alumni Admissions Organization. He is a former member of the Board of Governors of City Seminary of Sacramento, and a Deacon of Covenant Reformed Church. Mr. Esquivel, his wife Ruthanna, and his son Alejandro reside in Carmichael, California. 107 ii A Guide to Understanding Residential Subdivisions in California FOREWORD The California Bureau of Real Estate (CalBRE) is extremely pleased to offer A Guide to Understanding Residential Subdivisions in California as a free resource for everyone who has an interest in California subdivisions. We hope that this guide will be useful as a resource to, and a practical and valuable tool for, subdivision developers and builders, consumers who are interested in purchasing a home in a subdivision, owners of homes and units in subdivisions, real estate lawyers, real estate licensees, land use planners and other regional subdivisions staff, our specialized subdivisions staff, and anyone else who might be interested in residential subdivisions. CalBRE is the State entity which is responsible for enforcing the Subdivided Lands Act (SLA), which requires the qualification of subdivision offerings primarily for the protection of purchasers of homes in subdivided lands. That qualification process is accomplished through appropriate disclosures of material information to prospective subdivision homebuyers. The disclosures are made in a document called a “Public Report,” which is developed and produced by CalBRE based on information submitted by the subdivision developers. We have received numerous questions over the years concerning the mandate, operation, framework, application, and substantive and procedural requirements of the SLA, and wanted to provide answers to those questions in a clear, wide-ranging, and beneficial document. We believe that the authors of this guide, whom I wish to thank for their exceptional work, have met that goal and more. In addition to providing comprehensive, informative and easy-to-read materials on the SLA, there is important and significant information on common interest developments (in which millions of Californians reside), homeowner associations, the Subdivision Map Act (which is the California enabling statute under which cities and counties enact local laws controlling the “subdivision” of land within their jurisdictions), and a variety of other issues pertaining to residential subdivisions in California. Because the CalBRE also oversees the California Real Estate Law and safeguards and promotes the public interests in real estate matters, we also wanted to develop, along with and in conjunction with the more comprehensive manual, a stand-alone Residential Subdivision Buyer’s Guide that focuses entirely on subdivision issues for consumers. That document will be available as a separate resource manual for real estate consumers. We hope that consumers peruse A Guide to Understanding Residential Subdivisions in California, and read the Residential Subdivision Buyer’s Guide and the CalBRE booklet entitled Living in a Common Interest Development (all of which will be available for no fee on CalBRE’s website - www.bre.ca.gov) when considering the purchase of a home or unit in a residential subdivision in California. In ending, I want to express my appreciation to all of those who contributed to the planning, research, writing, editing, and production of A Guide to Understanding Residential Subdivisions in California (and the specially consumer-focused Residential Subdivision Buyer’s Guide), and my hope that each reader of the guide(s) will find something of value. Wayne S. Bell Real Estate Commissioner, State of California A Guide to Understanding Residential Subdivisions in California iii iv A Guide to Understanding Residential Subdivisions in California ACKNOWLEDGEMENTS We would like to acknowledge the individuals and organizations that made the development and publication of this monograph possible. Wayne Bell, California Real Estate Commissioner, saw the need for this monograph, initiated the project, and participated in the manuscript reviews. Sandra Knau, CalBRE Licensing Program Manager, was involved at every stage of the project from inception to completion. The following members of the CalBRE staff reviewed the monograph and generously gave their time to make contributions to its accuracy: Wes Jigour, Jeff Mason, Chris Neri,Tom Pool, and Shelly Wilson. We are also indebted to Bruce Inman for his contribution to the legal accuracy of the monograph and Editor Mallory Leone who contributed to readability and consistency. Elizabeth Perez, Graphic Designer from the College of Continuing Education at Sacramento State (CCE), provided expert assistance in the design of the figures, illustrations and created the cover design. She also designed the Residential Subdivision Buyer’s Guide published separately. Scott A. Holliday, Graphic Specialist from CCE, provided graphic formatting and layout of the publication. Project Manager Susan Gonzalez, also from CCE, guided the different phases of the project from planning to production with great enthusiasm, dedication, and professionalism. We greatly appreciate the contributions made by each of these individuals and we thank them for their dedication and excellent work. A Guide to Understanding Residential Subdivisions in California v TABLE OF CONTENTS About the Authors. . . . . . . . . . . . . . . . . . . uploads/Litterature/ residential-subdivisions-guide.pdf