Douglas R. McCauley
California Department of Real Estate
| Department overview | |
|---|---|
| Headquarters | 1651 Exposition Boulevard, Sacramento, CA 95815-5149 |
| Department executive | Douglas R. McCauley, Commissioner |
| Parent Department | California Business, Consumer Services, and Housing Agency |
| Website | www.dre.ca.gov |
What is the role of the real estate commissioner?
The Real Estate Commissioner, who is appointed by the Governor, is the chief executive of the Department of Real Estate. To facilitate the administration and enforcement of the Real Estate Law and the Subdivided Lands Law, the Commissioner is empowered by law to issue regulations.
How do I get a DRE license in California?
Apply online or complete the Salesperson Examination Application (RE 400A). Completed applications must include the appropriate fee ($60) and evidence you meet the education requirement. After DRE approves your exam application (approx. 2-4 weeks), you must pass a computer- based multiple choice exam.
Can California attorney be a real estate broker?
Your eligibility to practice law in California can be used in place of the college classes required of other applicants. 1 However, you still must take and pass the relevant exam to become a real estate agent or broker.
What does the California commissioner do?
The California Commissioner of Insurance is an elected state executive position in the California state government. The commissioner oversees the California Department of Insurance, which regulates the state's insurance industry.
How do I deduct real estate losses on my taxes?
How to Report Rental Property Losses on Your Taxes. When you sell an investment property at a loss, you'll need to report it on Schedule D of your Form 1040 to claim a deduction. Remember that deductions reduce your taxable income which could mean paying less in taxes or getting back a larger refund.
Along the California coast, the boundary separating public from private property is the high tide line. But what happens when sea level rise pushes this line inland?
— Rosanna Xia (@RosannaXia) May 25, 2023
At what point does private property become public — and how do we draw that line? https://t.co/BabfQLEsgy
Should I use form 8949 or 4797?
Should You Use Form 8949 or Form 4797? When reporting gains from the sale of real estate, Form 4797 will suffice in most scenarios. Form 8949 will need to be used when deferring capital gains through investments in a qualified fund.
Can you deduct real estate losses against ordinary income?
If you're a real estate professional who materially participates in your business, your passive real estate losses can offset ordinary income. If you actively participate in your business, you can deduct up to $25K of those losses against nonpassive income.
How long to amortize refinance costs on rental property?
The costs associated with obtaining a mortgage on rental property are amortized (spread out) over the life of the loan. For example, if it cost you $3,000 to refinance your 30-year mortgage, you'd be able to deduct $100 per year for the next 30 years.
How does refinancing a rental property work?
How To Refinance A Rental Property Or An Investment Property
- Step 1: Build Equity.
- Step 2: Gather The Proper Documents.
- Step 3: Compare Refinance Rates and Apply.
- Step 4: Lock Your New, Refinanced Rate.
- Step 5: Go Through Underwriting.
- Step 6: Close On The Loan.
What is the shortest time you can rent a property?
A short-term rental is defined as being less than six months, but many landlords are now making arrangements regularly for as little as one week. It might suit a landlord if they live in the property themselves, but are away for certain periods on business or holiday.
What is the hardest month to rent an apartment?
The High-Demand Summer Months
Summer months (June-August) are often considered the worst months to rent an apartment, primarily due to the high demand, increased competition, and higher final rental prices.
How long does it take to get approved for an apartment in Texas?
Most applications take 2-3 days to process and for a decision to be made, however, there are instances where it may take longer. In Texas, the law deems an applicant has been rejected after seven days from the date the person submits a complete rental application. See Texas Property Code 92.352.
How do I get around the 90 day rule on Airbnb?
The first option is to rent out your Airbnb as a short-term let on the platform and change it to a medium- or long-term rental property once you have reached the ninety-day limit. Airbnb will not take your listing down if you change it to a rental for 90+ days, and you will also be fully compliant with the regulations.
Which notice or disclosure is not required by the Texas Real Estate Commission TREC quizlet?
Which notice or disclosure is NOT required by the Texas Real Estate Commission (TREC)? The answer is a written notice to a purchaser that a death occurred on a property by natural causes, suicide, or accident unrelated to the condition of the property.
Who does not need a sellers disclosure in Texas?
When Is a Seller's Disclosure Not Required in Texas? Every rule has exceptions—even in Texas. You don't need a seller's disclosure when you sell or give a house to your kids (such as in a will), your spouse (such as part of a divorce), someone you already co-own the house with, or the government.
What is the seller’s disclosure notice which has been developed by TREC?
THIS NOTICE IS A DISCLOSURE OF SELLER'S KNOWLEDGE OF THE CONDITION OF THE PROPERTY AS OF THE DATE SIGNED BY SELLER AND IS NOT A SUBSTITUTE FOR ANY INSPECTIONS OR WARRANTIES THE PURCHASER MAY WISH TO OBTAIN. IT IS NOT A WARRANTY OF ANY KIND BY SELLER OR SELLER'S AGENTS.
Is a seller’s disclosure required in Texas?
Texas law requires that you, as a home seller, make certain disclosures to the buyer before the closing. The purpose is to reveal various problems with the property that could affect its value or desirability.
Is the seller’s disclosure notice as required under Section 5.008 of the Texas Property Code required for transactions?
Texas Property Code. Section 5.008 of the Texas Property Code requires "a seller of residential property comprising not more than one dwelling unit located in this state to give to the purchaser of the property" a written notice of the property's condition.
How long does it take to get real estate license in NY?
3-5 months
How Long Does It Take to Get a Real Estate License in New York? On average, it takes anywhere from 3-5 months to obtain a real estate license in New York.
How much is the real estate exam in NY?
$15 per attempt
New York Real Estate License Exam
You will first have to create your eAccessNY account before you can schedule your state exam. The fee to take the exam is $15 per attempt. The New York Real Estate Exam consists of 75 multiple choice questions and is based on the 75-hour pre-licensing curriculum.
How much does it cost to get a real estate license in NJ?
It costs around $710 to become a licensed real estate agent in New Jersey. This includes the cost of the pre-licensing exam prep course, the application fee, the exam, background check, and the license itself.
Do you need high school diploma for real estate license in New York?
To get a New York real estate license, you need to be at least 18 years of age. There is no requirement to have a GED or high school diploma in order to get your salesperson real estate license.
Is it hard to become a real estate agent in NY?
To earn your real estate license in New York, you must be 18 years of age, complete the 77-hour prelicensing education requirement with an approved school, find a sponsoring broker, pass the New York Real Estate Salesperson licensing exam, and apply for your license.
What does apartment rent mean?
Renting an apartment means entering into a legal arrangement with a landlord (the owner of the property) to live in the space for an agreed-upon fee. This fee, which is usually paid on a monthly basis, is called rent. The renter who occupies the apartment is also known as the tenant.
What determines the price of an apartment?
Property Condition and Amenities
The condition of the property plays a major role in determining the rental price. A newer or recently renovated property with modern appliances and fixtures will likely fetch a higher rent than a similar, outdated property.
What is the cheapest day to rent an apartment?
Research shows that the best days of the week to rent an apartment are Mondays and Fridays. Additionally, the most expensive days to rent an apartment are Sundays and Tuesdays. We also recommend trying to rent at the beginning of the day between 9am and 10am for the best prices.
How much does an apartment cost in New York?
Average Manhattan, New York Apartment Prices (Condo)
The average sale price for a condo ranges from $967,979 for a studio apartment to $10,620,414 for 4+ bedroom apartments. Meanwhile, the average price per square foot ranges from $1,380 for a studio to $2,959 for 4+ bedroom apartments.
What is the meaning of rent amount?
an amount of money that you pay for the use of something, especially that you pay regularly for the use of a room, house, office, etc. that someone else owns: a fair/high/low rent.
How much do top real estate agents make?
$129,667
Real Estate Agent Salary in California
| Annual Salary | Hourly Wage | |
|---|---|---|
| Top Earners | $129,667 | $62 |
| 75th Percentile | $103,700 | $50 |
| Average | $90,804 | $44 |
| 25th Percentile | $67,400 | $32 |
What type of realtors make the most money?
The 6 Highest Paying Real Estate Careers with Good Salaries
- Home Inspector. If you already have a good main job and are looking for a part-time gig to maximize your income, you can work as a home inspector.
- Real Estate Lawyer.
- Real Estate Broker.
- Commercial Real Estate Agent.
- Property Manager.
- Corporate Real Estate Manager.
Where do realtors make the most money?
Real estate agents in high cost of living cities such as New York and San Francisco tend to be the highest earners.
What is the #1 best paying job?
Get Matched!
- Anesthesiologist. #1 in Best Paying Jobs.
- Oral and Maxillofacial Surgeon. #2 in Best Paying Jobs.
- Obstetrician and Gynecologist. #3 in Best Paying Jobs.
- Surgeon. #4 in Best Paying Jobs.
- Orthodontist. #5 in Best Paying Jobs.
- Physician. #6 in Best Paying Jobs.
- Psychiatrist. #7 in Best Paying Jobs.
- Nurse Anesthetist.
How to make $100,000 your first year in real estate?
To make $100,000 a year real estate agents will need to focus on constant lead generation to maintain and grow their database. Taking action on priority tasks, not getting distracted by shiny objects. And be extremely consistent even when busy or when things don't feel like they're working.
What degree is best for real estate?
Popular majors for future real estate agents include marketing, finance, accounting, psychology, and business. Even though going to college isn't required, you may find it helpful to complete a degree or certificate program to gain knowledge that would help you succeed as a real estate agent.
Do you need to go to college to be a real estate agent in New York?
Agent license requirements: Must be at least 18 years old. Must complete 77 hours of real estate coursework through an approved provider if you completed your education outside of NY state (good for eight years from the date completed) or have a four-year college degree in real estate4. Must pass a final exam.
What are the requirements to become a real estate agent in Pennsylvania?
To earn your real estate license in Pennsylvania, you must be at least 18 years old, complete 75 hours of approved education, complete a background check, and pass the state and national real estate licensing exams.
Do you have to go to college to be a real estate agent in Texas?
You do not need a college degree (or even a high school diploma) to get your real estate license in Texas. So, if you are considering a career change or in the beginning stages of a new one, don't worry about your education background or experience.
What branch of real estate makes the most money?
The 6 Highest Paying Real Estate Careers with Good Salaries
- Home Inspector. If you already have a good main job and are looking for a part-time gig to maximize your income, you can work as a home inspector.
- Real Estate Lawyer.
- Real Estate Broker.
- Commercial Real Estate Agent.
- Property Manager.
- Corporate Real Estate Manager.
When was real estate invented?
The real estate industry dates all the way back to the Second Century with a stone carving that depicts a real estate transaction (it was literally set in stone!). But real estate as we know it started in the 1900s when real estate brokers began presenting houses for sale and organizations began to form.
How long should you keep a house before selling?
Five years
More time lets you build more equity (the difference between how much you owe on your mortgage and the home's value) and take advantage of potential home value growth. A guideline commonly cited by real estate experts is to stay at your house for at least five years.
Who sold the most houses in a year?
Pro Ben Caballero
Caballero holds a plaque reflecting his 2020 Guinness World Record title. Real estate pro Ben Caballero is breaking records yet again. He individually sold 6,438 homes in 2020, topping his own previous world record in sales. That sales record equates to moving $2.46 billion in real estate in just one year alone.
How did real estate originate?
History of real estate
The natural right of a person to own property as a concept can be seen as having roots in Roman law as well as Greek philosophy. The profession of appraisal can be seen as beginning in England during the 1500s as agricultural needs required land clearing and land preparation.
When did humans start owning property?
Integrating existing findings, the model contributes a new perspective on the emergence of communal transfers among hominin large game hunters around 200,000 years ago, of command ownership among sedentary humans in the millennia prior to the transition to agriculture, and of titled property ownership around 5,500