Hello, \nTo be qualified for Homestead exemption, home owners need to own and occupy their homes on Jan 1st. Was that changed? Some settlement agency told me that currently, you can apply whenever, and county would honor you homestead exemption whenever they receive your application, is that right?\nthanks

Starting 1/1/2022 home owners can file homestead exemption after closing as soon as they updated their address on their IDs to show their new home address.

If you like an area with flood history, would you buy it if it’s “perfect”?

If the property was flooded but remediated properly with proof provided, and the price is right, I would. If flood zone and flood history concerns the buyers, I would suggest buyers to look in the areas not in flood zone.

My client has an offer that was accepted but some back and forth isn’t making them comfortable. They suggested keeping it “active” but with an accepted offer, it was changed to “option pending” and property is still under option. They are concerned that option pending is affecting the showings. Are we obligated by ethics code to change the status if property has an accepted offer? Is pending continuing to show better? They believe that terminating a listing after option pending affects future value/ perception of property. Any thoughts?

After an offer is accepted and option fees paid, then the status should show "Option Pending"! During OP no other offer can be accepted. I would in agent remark let agents know backup offer is welcome! After OP ends, MLS updates the status automatically to PS. Whether it's under OP or PS and then back to Active, potential buyers might want to know why it's back to the market but some don't care at all. There are all kinds of reasons the deal fails. I would again, in agent remark, let agents know why it's back on the market. OP or PS, IMO it's not about which one is better, it's about following the rules. When I see OP, as a buyer agent, if my buyer is interested in the property, I always call listing agent and ask if I can show the property and whether seller accepts backup offer. I always tell my buyers it might be available again after OP. When it's a seller's market, next buyer will show up in no time!

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Yichin Tsai

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