Sell Your La Jolla Home for 1%. Not 2.5%.
Full-service listing at a 1% fee. At the 2026 median of $2,250,000, that's $33,750 back in your pocket compared to a traditional 2.5% commission - with professional photography, MLS listing, expert negotiation, and transaction coordination included.
Source: SDMLS · ZIP 92037 · Jan - Aug 2026
La Jolla 92037 - 2026 Market Snapshot
Based on 258 closed sales in SDMLS, January 1 - August 10, 2026. All residential property types, ZIP 92037. Includes condos, townhomes, twin homes, and detached single-family homes across La Jolla Village, Bird Rock, La Jolla Shores, The Muirlands, La Jolla Farms, UTC/Regents area, and all sub-neighborhoods of 92037. Data provided by Nikolas Mazzola, CA DRE #01724621, Shorebreak Real Estate.
2026 Sold Data · SDMLS
What Homes in La Jolla Actually Sell For
ZIP 92037 is San Diego's most valuable residential market by median sale price - $2,250,000 in 2026, with 258 closed sales ranging from $450,000 entry-level condos to $17,000,000 cliffside estates. The median home is a 3BR/3BA, 2,029 SF property selling in 16 days at $1,075 per square foot. Here is how those 258 sales break down by property type.
| Property Type | 2026 Sold Range | Typical Size | Example Streets / Complexes |
|---|---|---|---|
| Studio / 1BR Condo | $450,000 - $750,000 | 392 - 876 SF | Via Mallorca (UTC corridor), Villa La Jolla Dr, Via Alicante, Via Sonoma, 2600 Torrey Pines Rd, Regents Rd condos - La Jolla's most accessible ownership tier, concentrated in the UTC/Regents neighborhood |
| 2BR Condo | $730,000 - $1,300,000 | 840 - 1,400 SF | Via Mallorca 2BR, Regents Rd, Villa La Jolla Dr, 6455 La Jolla Blvd, 7811 Eads Ave, 7575 Eads Ave, Torrey Pines Rd, 7514 Girard Ave, Pearl St - Village-adjacent and UTC-area 2BR units |
| 3BR Condo / Townhome | $990,000 - $2,100,000 | 1,110 - 2,600 SF | Caminito Eastbluff, Via Marin, Caminito Del Cid, Pearl St (1056), Draper Ave, Caminito Circulo Norte/Sur, Caminito Preciosa, Claiborne Square, 2500 Torrey Pines Rd, 8585 Via Mallorca, 7540 Draper - the dominant move-up attached segment |
| Entry / Small Detached SFR | $1,295,000 - $2,800,000 | 900 - 2,100 SF | Forward St, Bonair Way, Rosemont St, Taft Ave, Linda Rosa Ave, Beaumont Ave, Soledad Mountain Rd, Waverly Ave, Fern Glen, Bird Rock Ave, Gravilla - often original-condition homes on premium lots; land value drives pricing in this tier as much as structure |
| Standard SFR (3-4BR) | $2,100,000 - $4,500,000 | 1,800 - 3,500 SF | Draper Ave, Eads Ave, Fay Ave, Herschel Ave, Virginia Way, La Jolla Blvd, Country Club Dr (lower), Soledad Ave, Germaine Ln, Caminito Linterna, Caminito Merion, La Jolla Shores Dr, Nautilus, Prospect Pl, Ivanhoe - the core La Jolla residential market across Bird Rock, the Village, and the Shores |
| Premium SFR (4-5BR) | $3,500,000 - $8,000,000 | 2,500 - 5,500 SF | Muirlands Dr, Country Club Dr, Via Capri, La Jolla Scenic Dr, Paseo Del Ocaso, Cliffridge Ave, Robin Hood Ln, Lookout Dr, Esterel Dr, Cabrillo Ave, Whitefield Pl, Valdes Dr, Copa de Oro, Mimulus Way, Glenwick Ln, Avenida Andorra (upper) - elevated Muirlands and hillside properties, many with ocean and bay views |
| Ultra-Luxury / Estate | $6,000,000 - $17,000,000 | 2,800 - 12,842 SF | La Jolla Scenic Drive S (bluff-top), La Jolla Farms Rd, Terryhill Dr, La Jolla Mesa Dr, Hillside Dr, Solymar Dr, Spindrift Dr, La Pintura Dr, 210 Palomar Ave ($14.5M), 6283 La Jolla Scenic Dr S (12,842 SF, $17M) - La Jolla's most irreplaceable estate addresses on large lots with panoramic Pacific, cove, and city views |
Ranges based on 258 closed sales in ZIP 92037, January 1 - August 10, 2026. La Jolla pricing is governed by proximity to the water (especially direct ocean and cove frontage), view quality, lot size, neighborhood sub-market, and property condition. A 1,000 SF teardown on a bluff-top lot can close above $2.5M purely on land value; a fully renovated 3,500 SF home in the Muirlands can close at $5M+. The 16-day median DOM confirms that correctly priced properties across all tiers find buyers quickly in 2026.
Agent's Market Analysis · August 2026
La Jolla in 2026: $2.25M Median, 16-Day Velocity, and $45,000 in Savings at the Right Listing Fee
La Jolla 92037 is the highest-median-price market in this entire ZIP code series, and it is not particularly close. At $2,250,000 median sale price across 258 closed sales - more than 1.5x the series average - La Jolla operates at a price level where the listing commission decision is genuinely consequential. The 2% difference between 1% and 3% translates to $45,000 at the median, $83,000 at the average, and over $200,000 on the $10M-plus transactions that close in La Jolla every year. Sellers in this market are sophisticated; the ones who are paying attention are not accepting a 3% listing fee in 2026.
"La Jolla's best-priced homes sell in hours. 55 of the 258 closed sales in 2026 had zero days on market - they went under contract the day they hit the MLS or before. At the same time, 18 sales took over 60 days. The difference is usually not the home. It is the pricing. In a market where the median is $2.25 million, a 5% overlist doesn't get corrected by the market - it gets punished by it."
The most active segment has been 3-4BR detached SFR priced $2.1M to $4.5M - the core La Jolla residential market across Bird Rock, the lower Village streets, La Jolla Shores, and the accessible Muirlands. Streets like Draper, Eads, Fay, Herschel, Waverly, Taft, Linda Rosa, Beaumont, and Calumet all recorded multiple sales in 2026, most with DOMs in the 1-20 day range when priced correctly. Bird Rock in particular has emerged as one of the most active renovation sub-markets in all of San Diego - buyers are paying $2.4M to $4.5M for original-stock Bird Rock homes and investing heavily in them, driven by the neighborhood's walkability and proximity to the Village.
The ultra-luxury tier above $6M is deeper in 2026 than in any recent year. Fourteen La Jolla homes sold for $6M or more through August 10 - including 210 Palomar Ave at $14.5M, 7455 Hillside Dr at $11.15M, 8330 Prestwick Dr at $11.15M, 6012 La Jolla Mesa Dr at $12.2M, and the bluff-top 6283 La Jolla Scenic Drive S at $17M (12,842 SF on a 27,442 SF lot). The depth of that tier is a meaningful signal about who is buying in La Jolla in 2026 - buyers at the absolute top of the Southern California market who have selected La Jolla's bluffs, coves, and academic infrastructure over comparable options in Malibu, Montecito, or Newport.
The UTC/Regents corridor (Via Mallorca, Villa La Jolla Dr, Regents Rd, Via Alicante, 4165 Executive Dr) continued its role as La Jolla's entry-ownership tier, absorbing consistent demand from UCSD affiliates, biotech professionals, and first-time La Jolla buyers at $450K-$1.3M. These complexes trade at the highest velocity in the ZIP, with many units selling in under 10 days at or above asking price.
Nikolas Mazzola · CA DRE #01724621 · Broker, Shorebreak Real Estate · Analysis based on SDMLS data, ZIP 92037, Jan 1 - Aug 10, 2026.
Based on 2026 La Jolla Sold Prices
How Much You Keep at 1% vs. 2.5%
La Jolla has the highest median sale price of any ZIP code in this market series. At these prices, the 1.5% difference between a 1% and 2.5% listing commission is not a minor line item - it is often larger than a full year of property taxes.
| Your Sale Price | 2.5% Listing Fee | 1% Commission | You Save |
|---|---|---|---|
| $1,100,000 | $27,500 | $11,000 | $16,500 |
| $1,800,000 | $45,000 | $18,000 | $27,000 |
| $2,250,000 (2026 Median) | $56,250 | $22,500 | $33,750 |
| $3,000,000 | $75,000 | $30,000 | $45,000 |
| $4,500,000 | $112,500 | $45,000 | $67,500 |
| $6,500,000 | $162,500 | $65,000 | $97,500 |
| $10,000,000 | $250,000 | $100,000 | $150,000 |
Full-service listing includes professional photography, MLS, syndication, negotiation, and transaction coordination. No hidden fees. Same service. A fraction of the cost. In La Jolla, where 14 homes sold above $6M in 2026 alone and the average sale exceeded $2.77M, the listing commission decision is one of the highest-leverage financial choices in the entire transaction.
The La Jolla Neighborhoods
ZIP 92037 encompasses one of the most geographically and economically varied coastal communities in California. From the UTC condo corridor at the inland edge to the bluff-top estates of La Jolla Scenic Drive South overlooking the Pacific, 92037 spans a range that would take most ZIP codes a decade to cover. The neighborhoods within it are genuinely distinct - different in character, price level, buyer profile, and lifestyle.
La Jolla Village
La Jolla Village - bounded roughly by Prospect Street, Girard Avenue, Pearl Street, and the coastline - is the social and commercial core of 92037. Girard and Prospect are lined with galleries, fine dining, boutiques, Warwick's bookstore (the oldest family-owned bookstore in the U.S.), and the entry points to the Cove. Residential streets immediately adjacent to the Village - Herschel, Fay, Draper, Eads, Pearl - support a dense cluster of condos, townhomes, and small SFR selling in the $1.2M to $4M range. Walkability, proximity to the Cove, and the Village's cultural identity make this the most aspirational address in the ZIP for buyers who want the full La Jolla experience.
La Jolla Village - LJBTSBird Rock
Bird Rock occupies the southern stretch of La Jolla Boulevard and its cross-streets - Taft, Calumet, Beaumont, Waverly, Linda Rosa, Bellevue, Desert View, and the avenues running between them. Once considered La Jolla's overlooked neighborhood, Bird Rock has undergone a sustained renovation wave since 2018 and is now one of the most active residential markets in the ZIP. The neighborhood has a genuinely walkable commercial strip on La Jolla Blvd with coffee shops, wine bars, restaurants, and a relaxed surf-adjacent culture. SFR prices run $2.4M to $5M+ for renovated stock; original-condition homes trade for less but attract buyers planning full gut renovations.
Bird Rock Dining - YelpLa Jolla Shores
La Jolla Shores sits at sea level north of the Village, where the cliffs give way to a wide, flat sandy beach - La Jolla Shores Beach - that is the most family-friendly and kayak-accessible stretch of coastline in the ZIP. The neighborhood includes La Jolla Shores Drive, Avenida De La Playa (the Shores commercial strip), Calle Del Oro, and the streets running back from the beach. Scripps Institution of Oceanography and Birch Aquarium anchor the northern end of the Shores area. Residential pricing ranges from $2.4M (townhomes near La Jolla Shores Dr) to $7M+ for La Jolla Shores Drive homes with direct beach proximity.
Birch Aquarium at ScrippsThe Muirlands and Upper La Jolla
The Muirlands occupies the elevated hillside above the Village and La Jolla Country Club, with streets including Muirlands Drive, Country Club Drive, Via Capri, Robin Hood Lane, Prestwick Drive, and Lookout Drive. Homes here sit on wider lots (often 5,000-25,000 SF) at elevations that provide ocean, cove, and canyon views. The Muirlands is La Jolla's classic estate neighborhood - 4-5BR homes on mature-landscaped lots that sell in the $3.5M to $8.5M range in 2026. The adjacent La Jolla Country Club golf course (private) and the proximity to both the Village and Torrey Pines add to the neighborhood's enduring appeal.
La Jolla Country ClubLa Jolla Farms
La Jolla Farms and the adjacent hillside streets (Terryhill, La Jolla Mesa, Hillside, Soledad Ave upper) form La Jolla's ultra-luxury residential tier. La Jolla Farms Road itself is a private, gated enclave where lots run to 65,000 SF and homes to 12,000+ SF. Neighboring streets like Encelia, La Pintura, Country Club Drive (upper), and Vista De La Mesa produce the ZIP's $6M to $17M transactions. These are generational properties - purchased and held for 10-20 years, with many sales involving buyers from the biotech industry, finance, or legal professions who view La Jolla as a permanent base.
La Jolla Community Profile - City of SDUTC / Regents Corridor
The UTC/Regents area at the inland edge of 92037 - Via Mallorca, Villa La Jolla Drive, Via Alicante, Regents Road, Executive Drive, Via Sonoma - contains La Jolla's highest-density condo stock and serves as the ZIP's most accessible entry point. The complexes here (4600/4750 Via Mallorca, 8430/8585 Via Mallorca, Villa La Jolla Dr, 4165 Executive Dr, Regents Rd) trade at $450K-$1.3M and attract UCSD graduate students, biotech professionals, and buyers priced out of La Jolla proper who want the 92037 ZIP code. The UTC Westfield mall, UCSD campus, and the new Trolley station at UCSD are immediate amenities.
Westfield UTCWhat Makes La Jolla Irreplaceable
La Jolla's lifestyle is anchored by a combination of natural and institutional assets that exist nowhere else in San Diego. The Cove, Torrey Pines, the Salk Institute, UCSD, Scripps - these are not marketing bullets. They are the actual reasons that buyers choose La Jolla over every other coastal address in Southern California.
La Jolla Cove and Children's Pool
La Jolla Cove is San Diego's most iconic natural landmark - a protected ocean cove at the foot of Girard Avenue with some of the clearest water on the California coast, home to the Ellen Browning Scripps Marine Park. The cove is the entry point for scuba diving, snorkeling, and sea kayaking in the La Jolla Underwater Park and Ecological Reserve, a protected area covering 6,000 acres of ocean bottom. Children's Pool (a man-made sea wall enclosure at 850 Coast Blvd) is now home to a permanent colony of harbor seals and sea lions - one of San Diego's most-photographed wildlife encounters.
La Jolla Cove - City of SDTorrey Pines State Natural Reserve
Torrey Pines State Natural Reserve occupies the northern tip of 92037 above La Jolla Shores, protecting 2,000 acres of coastal wilderness that is home to the rarest pine tree in North America - the Torrey Pine, which exists naturally only here and on Santa Rosa Island. The reserve has 8 miles of hiking trails through coastal chaparral, lagoon, and beach terrain with unobstructed views of the Pacific and Los Penasquitos Lagoon. The adjacent Torrey Pines Gliderport is one of the premier paragliding and hang gliding launch sites in the country, perched on a 300-foot coastal bluff with views extending from downtown to the Coronado Islands.
Torrey Pines State ReserveSalk Institute for Biological Studies
The Salk Institute (10010 N Torrey Pines Rd) is one of the world's premier biomedical research institutions, founded by Jonas Salk and housed in an architectural masterpiece designed by Louis Kahn - two concrete towers aligned to frame a view straight down the center courtyard to the Pacific. The Salk Institute is not just a scientific institution; it is a built landmark that anchors La Jolla's identity as a global center of intellectual life and biotech innovation. It is also a significant employer in the 92037 corridor and a primary reason that senior researchers from around the world purchase homes in La Jolla rather than anywhere else in San Diego.
Salk InstituteUC San Diego
UC San Diego (9500 Gilman Dr) is one of the top 20 research universities in the world, with over 40,000 students and 28,000 employees - the single largest employer in the 92037 corridor. UCSD's Torrey Pines Mesa campus is immediately north of the La Jolla residential core and is the anchor of San Diego's biotech and life sciences industry cluster. The university's faculty housing, graduate student population, and affiliated biotech industry professionals constitute a significant portion of the 92037 buyer pool at every price level from $450K condos to $5M+ faculty homes.
UC San DiegoWindansea Beach
Windansea Beach - at the foot of Nautilus Street in Bird Rock - is one of San Diego's most beloved surf breaks and one of the few genuinely wild-feeling beaches on the coast. The beach is rocky, dramatic, and not particularly family-friendly, which is precisely why it attracts the surfers, photographers, and residents who value its character. The distinctive thatched surf shack at Windansea (a California Historical Landmark) is the neighborhood's icon. Bird Rock homeowners within walking distance of Windansea consistently command a premium within the Bird Rock sub-market.
Windansea Beach - City of SDLa Jolla Playhouse
The La Jolla Playhouse on the UCSD campus is one of America's most important regional theaters - a Tony Award winner for Outstanding Regional Theatre that has developed and premiered plays including Tommy, Jersey Boys, I Am My Own Wife, and Memphis before their Broadway runs. For La Jolla residents, the Playhouse is a neighborhood asset of a caliber that very few communities anywhere in the country can claim. Combined with the Museum of Contemporary Art San Diego (MCASD La Jolla), the Thursday night Art Walk on Girard, and the UCSD Stuart Collection of public sculpture, La Jolla has a genuine arts infrastructure that is a meaningful quality-of-life factor for many buyers.
La Jolla PlayhouseSchools Serving 92037
La Jolla is served by both San Diego Unified School District (SDUSD) and two of San Diego's most prestigious private schools. The combination of strong public options and elite private schools is a significant factor in family demand at the $2M+ SFR tier. School assignment depends on exact address; verify enrollment zones with SDUSD before purchasing.
La Jolla Elementary
La Jolla Elementary School (1111 Marine St) serves the Village and adjacent residential streets. La Jolla Elementary consistently performs near the top of SDUSD elementary schools in academic metrics and has one of the strongest parent volunteer programs in the district. The school's location in the heart of the Village makes it one of the most walkable elementary campuses in San Diego, and its intake area covers the most valuable residential blocks in 92037.
La Jolla Elementary - SDUSDBird Rock Elementary
Bird Rock Elementary School (5371 La Jolla Blvd) serves the Bird Rock neighborhood and portions of the southern 92037 residential streets. Bird Rock Elementary has experienced a significant uptick in enrollment and parent engagement alongside the Bird Rock neighborhood's revitalization, and it consistently performs well above district averages. The school's community character reflects Bird Rock's evolving demographic - a mix of longtime La Jolla families, young professionals who purchased in Bird Rock as it gentrified, and UCSD affiliates.
Bird Rock Elementary - SDUSDMuirlands Middle School
Muirlands Middle School (1056 Nautilus St) is La Jolla's public middle school, serving students from La Jolla Elementary, Bird Rock Elementary, and other feeder schools. Muirlands consistently performs among the top middle schools in SDUSD, with a broad curriculum, strong extracurricular programs, and a student culture that reflects the community's academic orientation. The school's location in the Bird Rock/Windansea area is roughly central to the 92037 residential footprint.
Muirlands Middle - SDUSDLa Jolla High School
La Jolla High School (750 Nautilus St) is consistently ranked among the top 10-15% of California public high schools. LJHS has exceptional academic programs including IB and AP courses, a nationally competitive debate program, strong arts and athletics, and a college acceptance profile that includes consistent placement at UC and private universities. For buyers with high-school-aged children, La Jolla High is a primary driver of demand in the $2M+ SFR tier - the school's reputation is one of the ZIP's most bankable residential amenities.
La Jolla High School - SDUSDThe Bishop's School
The Bishop's School (7607 La Jolla Blvd) is La Jolla's elite college-preparatory private school, serving grades 6-12 on a historic campus in the Village. Bishop's consistently ranks among the top private schools in California, with near-universal college placement, exceptional academic rigor, and a strong arts and athletics tradition. Many families in 92037 who could send children to La Jolla High choose Bishop's instead - particularly for the middle school years - making it a significant factor in the premium commanded by Village-adjacent addresses within walking or biking distance of the campus.
The Bishop's SchoolUC San Diego
UC San Diego is immediately north of the 92037 residential core and serves as a meaningful part of La Jolla's educational ecosystem beyond K-12. UCSD Extension offers continuing education programs; the university's public lectures, athletic events, and cultural programs (Playhouse, Stuart Collection, Geisel Library) are accessible to the broader community. The university's proximity is a quality-of-life asset that particularly resonates with the faculty, researcher, and biotech professional buyer profiles that dominate the La Jolla market above $2.5M.
UC San Diego ExtensionWant to work with us?
Real estate commissions are not set by law. There are no standard or fixed rates. The total commission is entirely up to the seller’s discretion and is negotiable between the seller and their listing agent.
Department of Real Estate License # 01724621, #01984637
COMPANY
Areas
Services
LEGAL
FOLLOW US
Copyright 2026. Shorebreak Real Estate DBA San Diego 1 Percent Listing. All Rights Reserved.
Elite Broker Blogs
━━━━━━━━
California Real Estate Disclosures: What Sellers and Buyers Need to Know
California Real Estate Disclosures: What Sellers and Buyers Need to Know
If you’re buying or selling a home in California, disclosures are not optional — they are a critical part of the transaction designed to protect both parties and prevent surprises after closing.
California has some of the most comprehensive disclosure laws in the country. Understanding them upfront can help you avoid delays, renegotiations, or legal issues later.
Here’s a practical breakdown of what disclosures are, why they matter, and what to expect during a residential real estate transaction.
What Are Real Estate Disclosures?
A disclosure is written information about a property that could affect a buyer’s decision to purchase or the price they’re willing to pay. These disclosures typically address:
The physical condition of the home
Known defects or repairs
Environmental or natural hazards
Legal or financial obligations tied to the property
California law places the primary responsibility for disclosures on the seller, with additional duties imposed on real estate agents to investigate and disclose material facts.
The Transfer Disclosure Statement (TDS)
One of the most important documents in a California home sale is the Real Estate Transfer Disclosure Statement (TDS).
This form requires the seller to disclose, to the best of their knowledge:
The condition of major systems (roof, plumbing, electrical, HVAC)
Past or present leaks, water damage, or structural issues
Unpermitted additions or repairs
Neighborhood nuisances (noise, odors, etc.)
HOA involvement or shared features
Environmental hazards such as asbestos, lead-based paint, or contaminated soil
Importantly, the TDS is not a warranty — but buyers are legally allowed to rely on the information provided when deciding whether to move forward.
If disclosures are delivered after an offer is accepted, buyers are given a short window to cancel the contract without penalty.
Natural Hazard Disclosures (NHD)
California sellers must also disclose whether a property is located in certain state- or federally-designated hazard zones, including:
Flood zones
Earthquake fault zones
Seismic hazard zones (liquefaction or landslides)
Very high fire hazard severity zones
Wildland fire areas
These disclosures are typically made using a Natural Hazard Disclosure Statement, often completed by a third-party reporting company. Even when a third party is used, the seller and agent remain responsible for ensuring the disclosure is delivered to the buyer.
Hazard disclosures help buyers understand potential insurance costs, building restrictions, and long-term risks tied to the property.
Additional Seller Disclosures You Should Know About
Depending on the property and transaction, sellers may also be required to provide disclosures related to:
Mello-Roos taxes or special assessments
Supplemental property tax notices
Methamphetamine contamination orders
Window security bars and pool safety features
Industrial zoning or nearby nuisance uses
Water heater earthquake bracing
Registered sex offender database notice
Lead-based paint disclosures (for homes built before 1978)
Failing to properly disclose these items can expose a seller to claims of misrepresentation — even years after closing.
What Are Agents Required to Disclose?
Licensed real estate agents in California have independent disclosure obligations. Agents must:
Conduct a reasonably competent visual inspection of accessible areas
Disclose material facts affecting value, desirability, or intended use
Disclose known defects even if the seller does not
Properly explain agency relationships (buyer, seller, or dual agency)
Agents are not required to perform technical inspections, but they cannot ignore visible red flags or known issues.
Why Disclosures Matter (for Both Sides)
Disclosures protect everyone involved:
For sellers, proper disclosures:
Reduce legal risk after closing
Build buyer confidence
Prevent deals from falling apart late in escrow
For buyers, disclosures:
Provide transparency
Help inform inspections and negotiations
Prevent costly surprises after move-in
In short: honest, timely disclosures keep transactions smoother and safer.
Work With a Broker Who Takes Disclosures Seriously
Disclosure laws are detailed, technical, and constantly evolving. Having an experienced broker who understands both the legal requirements and the practical realities of escrow can make a major difference.
At San Diego 1 Percent Listing, disclosures aren’t treated as paperwork — they’re treated as a critical part of protecting our clients and closing clean, defensible transactions.
Thinking of Selling?
If you’re preparing to sell and want help navigating disclosures the right way — without over-disclosing, under-disclosing, or risking liability — let’s talk.
👉 Schedule a free seller consultation
👉 Get a professional disclosure strategy before you list
Legal Note
This article is for general informational purposes only and is not legal advice. Disclosure laws can change, and every property is different. Buyers and sellers should consult qualified real estate and legal professionals regarding their specific situation. Information summarized from the California Department of Real Estate disclosure guidelines
