Local and nationwide daily real estate related news from official sources and blogs of real estate professionals.

Goodbye Income Tax Deductions

Where do you fit in to the Administration's tax plan?

Halloween Scary Story

I was in an older historic neighborhood in Orange County, and wanted to do an impulse preview of a large two-story Victorian home built in the 1890s and located on a corner, with a for sale sign on t

Updated: The Ten Commandments of Buying a Home, Plus a Few More

Lenders are just not kidding around when they advise buyers about what to do for successful loan completion.  See the links below for my previous blog post on t

California Housing Market Forecast for 2018

The 2018 California Association of Realtors Housing Market Forecast was released at this month's annual trade show. 

New Transaction Closing Rules with CFPB - Part II

Mark August 1, 2015 as the date on which transactions will be impacted!

Four Critical Credit Tips

Energy-Efficiency Upgrades and Residential Energy Tax Credits for 2014

If you made your home more energy efficient in 2014, you might qualify for the residential energy tax credit.

Tax credits are especially valuable because they let you offset what you owe the IRS dollar for dollar for up to 10% of the amount you spent on certain home energy-efficiency upgrades. 

What is the January 2015 Real Estate Profile of Long Beach, Cerritos, Lakewood and Rossmoor?

Here is a brief summary of January 2015 sales, compared to January 2014:

Long Beach - Median sales price for a single family home: $481,000 (up 5.8%), housing inventory down 22%, with only 2.2 months supply of inventory on the market.

Cerritos - Median sales price for a single family home: $602,000 (up 3%), housing inventory down 9% with only 2.1 month supply of inventory on the market.

Cash Buyers Slowing, Home Price Gains and Low Inventory In Southern California

Looking toward downtown Long Beach from Bluff Park
For quite a while the price increases have been pretty noticeable, but on closer look it's not the same for all segments of the

The New Changes in the 2014 California Residential Purchase Contract

As of November 24th, new changes and additions to our real estate contract will be taking place.  This is one of the most significant series of changes, and the largest amount, in many years.  So if you're a buyer or a seller of a condo, house, duplex, three- or four-unit residential property and you open es

Just Sold in Long Beach

Just Sold in Bluff Park:
2601 E Ocean Blvd., #305 -- a 2 bedroom/2 bath + dining room end unit with ocean and neighborhood views. Lots of character and space in this 1970's condominium. Third floor unit in an upgraded homeowner association.

Single Family Home Prices in Long Beach 90803 and the City of Long Beach

Single family home prices in the 90803 zip code (including Bluff Park, Belmont Shore, Naples, Belmont Heights) have, on average, ranged between $554,000 and $970,000 over the last three years. November 2011 and September 2014 are so far the two highest points on the scale. The majority of houses selling over $900,000 during 2014 in this zip code are mostly in Belmont Shore, next is The Peninsula, Bluff Park and the lower part of Belmont Heights.

There are California Programs to Help Buyers Buy

e Down Payment Resource automated down payment assistance program finder does the research for you and quickly matches you with specific homebuyer assistance programs for which you may be eligible.
With Down Payment Resource, you’ll learn:

Impacts on California Housing and Real Estate

Normal 0 MicrosoftInternetExplorer4 The 2015 California Association of REALTORS annual conference took place in Anaheim last week.  As always, the annual market forecast was given, and these are just some of the highlights from over 128 slides used in the presentation by the Association's Chief Economist:

California Home Equity is Up, But Distressed Owners Are Still Among Us

Distressed property owners have not disappeared totally.  A review of the Los Angeles County tax records today for the entire Long Beach area shows 257 residential properties in pre-foreclosure status.  Who's represented?  Property owners in all zip codes and while I didn't make an exact count, adjustab

Thinking of Taking Money Out of Your California 1031 Exchange? Do It The Right Way

A basic feature/requirements of 1031 exchanges is that the taxpayer doing the exchange cannot have access to their funds--that's why there's an accommodator, or "qualified intermediary" (QI).  In real estate, 1031 exchanges are allowed where the property owner has not lived in the property as a principal residence, but has owned it usually as some form of income or investment property.

Are Flipped Properties Always a Good Deal?

While many buyers these days have gained more knowledge about obtaining disclosures when buying a property, they don't always know what to ask for.

Appearances are Important, But Housebuying Involves More Than Looks

Everyone has heard of "flips". They were often foreclosed houses or condos bought, usually by an investor or some legal entity for the purpose of "fix and sell". 

A Few Things I Have Learned From My Clients and Them Selling Homes

Learning does not necessarily come in the form you think it will--sometimes you learn from mistakes, or you learn from what others tell you and what they know, or you learn from having been around that bend in the road before.  We are in the business of having to explain to our clients what they must do before, during and after transaction, and hence, we are constantly in the business of explaining and talking.  But the learning process goes in both directions.

Water Conservation in Southern California--It Can Save You Money!

lawn to gardenIronically, on the day of heavy rain last week in Long Beach, drought conditions were officially declared (again) by the City, and water restrictions were officially put into place, and/or reminded of once more.

Sellers, Get the Price You Deserve!

Seller's selling tasks
Every year  National Association of Realtors publishes its survey of home buyers and sellers, but this 2011-2012 survey (