The Environmental Protection Agency published the long-awaited lead-based paint renovation regulations in the Federal Register on April 13, 2008.  These final regulations establish rules to govern lead-based paint renovation, repair and painting activities that create lead hazards in single and multi-family housing constructed prior to 1978.  Property owners, property managers and contractors are now required to follow a variety of notification, work safety and notification procedures before, during and after renovation activities to prevent the creation of lead-based paint hazards. 

·        Applies only to pre-1978 housing

·        Applies only to renovation/repair/painting activities

·        Rules apply only if 6 square feet or more of interior is being disturbed; 20 square feet or more of exterior

·        Rules apply to any size window replacement

·        Work practices include use of certified or trained workers, dust containment practices, and cleaning verification.

·        A new pamphlet – “Renovate Right” – has been developed to help contractors and property owners comply with these rules, and must be used beginning in December 2008.

·        For multi-family property owners/ managers, informational signs alerting tenants of the renovation activities must be posted in common areas, and copies of the “Renovate Right” pamphlet must be made available for review in the building office.  Individual notices and the brochure must be supplied to tenants for work done in individual units.

·        For single family property managers, pamphlet must be provided to the tenant by the contractor, and an acknowledgement form must be signed and retained.

·        Results of any test conducted before, during or after any renovation activities must be disclosed under Section 1018.

·        Any records/forms generated as a result of this rule must be retained for three years.

The percentage of households that could afford to buy an entry-level home in California rose to 44 percent in the first quarter of 2008, up from 26 percent in the same quarter a year ago and 33 percent in the final quarter of 2007, according to the California Association of REALTORS®’ First-time Buyer Housing Affordability Index.  Households needed an income of $67,830 to purchase a home costing $356,350, which is 85 percent of the statewide median home price.  The income requirement was 30 percent lower than a year ago and is closer to the state’s median income of $50,700.  Sacramento and the High Desert regions topped the list of most affordable regions at 64 percent, with Monterey and San Francisco the least affordable at 29 and 30 percent, respectively.

Total sales for new homes in March were 49 percent below March 2007 levels, however, monthly year-over-year declines are beginning to narrow, according to the latest report from the California Building Industry Association (CBIA).

The Internet plays a vital role in how consumers begin their search for a home, as well as some other products, but a wide majority prefer to “close a deal” offline, and the numbers who say they submit post-purchase reviews of their shopping experience are few, according to a new study by the Pew Internet & American Life Project.

Of those polled in the Pew study, 49 percent said they used the Internet to search for a home, but only 11 percent said that their online search had a “major” impact on their final purchasing decision.  The other two categories studied were music and cell phone purchases.  For music, 56 percent said they used the Internet to search for music, but only 7 percent said the Internet had an impact on their final purchasing decision.  Of cell phone purchasers, 49 percent said the Internet was used to search for a product, but only 10 percent said it impacted their final purchase choice.

Green Tip from the California Association of REALTORS®:  When you go the supermarket, a common question at the checkout line is, “Paper or Plastic?”  Which is the greener answer?  The preferred answer should be, “No thanks, I brought my own.”  Canvas bags are available for sale at many retailers, but even if you don’t buy a bag from the retailer, make an effort to re-use the paper or plastic bags you get from the market.  After bringing your groceries into the house, immediately take the bags back to your car and keep them in the trunk for your next visit.