Is down-zoning something you offer?

Member

I would imagine this is more common in and near cities than in other areas but I know a few places around here (real estate agent companies) that do offer this service and I wasn't entire sure why. Can someone explain this to me and whether or not it is a service you or the company you work for provides?

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May 3, 2020 9:25 PM

I don't work for an agency and have only sold two homes. I will be honest, I never even heard of down-zoning. I looked it up and it would appear that this is not something people do in my area. It is an older practice that only certain areas offer.

May 8, 2020 5:42 PM

Member

Can't say this is something I ever considered. I would imagine this is more common with commercial property and certain areas within the US.

May 11, 2020 10:04 PM

Member

If the City simply wants to change the zoning to a more restrictive use, California law provides that unless the change in zoning results in a regulatory taking or deprives the owner of a vested right, the property owner is not entitled to compensation. In other words, the owner is not entitled to compensation unless (1) the new zoning designation results in a loss of substantially all economically viable uses of the property, or (2) the owner has done substantial work or expended large sums of money in good faith reliance on a development permit. 

June 10, 2020 10:18 PM