The Monthly Statistical Update (MSU) keeps agents and brokers current on the market trends affecting California real estate transactions. This month, we’re covering: the rising Federal Funds rate, which is directly causing adjustable rate mortgage (ARM) rates to jump in 2023; rates on mortgage insurance from private insurers contrasted with the FHA, making mortgage borrowing even more expensive for homebuyers […]
What happens when there is an IRS lien on a foreclosure sale? Do they have any super extra rights? No, they have 120 days to buy the property from the winning bidder paying the price bid at the sale. https://www.nolo.com/legal-encyclopedia/what-happens-my-home-if-i-dont-pay-income-taxes.html#:~:text=When%20an%20IRS%20lien%20gets,becomes%20the%20home’s%20legal%20owner.
The online dictionary definition states, “The joy derived from the misfortunes of others”. Have you ever felt a little pleasure when some athletic team loses? An election loss by someone you do not respect? Etc. Etc. One example from my past involves the Boston Celtics and Red Auerbach, their long time very successful coach. They made […]
To qualify to take the Brokers Exam, an applicant must show that they have two years licensed experience in the real estate field or a college degree with a major or minor in real estate or equivalent experience in real estate related occupations such as escrow or lending. The experience must be within the five […]
The Spring issue of the NAR Magazine had an excellent article on this topic. The local Realtor and National Realtor Magazines are always worth the time to review. There is a valuable quote at the end of the offering. By Tim and Julie Harris from their book, “Old School Etiquette for a New World Communication”. “Communicate […]
Years ago every licensee received a DRE Quarterly Bulletin by mail. Everyone would immediately go to the section that showed the penalties imposed on licensees in the previous quarter. Many times you would see someone you knew or knew of. In today’s market this information is posted on the DRE Website. Enter Summary of Enforcement […]
There was an interesting overview of the IRS Taxpayer Bill of Rights in a Tax Tip email sent to me by the Internal Revenue Service (hope you are now a subscriber). The overview includes 10 important categories of rights of which you should be aware. #1: The Right to Be informed: Be told what you have […]
Your Monthly Statistical Update (MSU) for May 2023 has arrived Each month the MSU features three interrelated charts, presented both in a dynamic video as well as a PDF. Collectively analyzed, these charts provide you and your students with insight and practical expectations about the future The status of the real estate market is critical […]
Now is the time to start eating better and being active. Later might be a few minutes too late. The following article from AARP (if we can’t trust AARP, who can we trust?) gives you some information on Superfoods to add to your grocery list. Lower your blood pressure, fight inflammation and slash stroke risk. […]
The typical 1031 Exchange is not Tax Free. It is tax deferred and sometimes there is recognized tax. Is there a simple way to tell whether your gain will be deferred or recognized? Marvin Starr, a legendary Oakland California attorney, designed what he called the napkin test. He always explained that he wrote it out […]
