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2024-2025 California Property Tax Bills are Out! Check Your Mail or Check Online (The County Will NOT Remind You!!!!)

October 3, 2024
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Attention Newport Beach and Costa Mesa homeowners! The 2024-2025 California property tax bills are out, and it’s time to take action. Don’t wait for a reminder—the County won’t send one! Your first installment is due by December 10, 2024, and the second by April 10, 2025. Missing a payment can lead to hefty penalties, especially with the high property values in our local communities. Stay on top of your property taxes and avoid unnecessary fees. For help navigating your bill or understanding Proposition 19, reach out to Lucas Real Estate—your local property tax experts.

Understanding Proposition 33: What It Means for Homeowners, Renters, and the Housing Market

September 27, 2024
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Understanding Proposition 33: What It Means for Newport Beach and Costa Mesa Property Owners

Proposition 33 aims to repeal the Costa-Hawkins Rental Housing Act, potentially imposing rent control on single-family homes and new apartment developments across California. This measure could drastically affect property owners in high-demand areas like Newport Beach, Costa Mesa, and other coastal Orange County communities by expanding rent control regulations. At Lucas Real Estate, we guide property owners through the evolving real estate landscape, ensuring your investments remain protected. Discover how Prop. 33 could impact your property and the housing market.

For personalized real estate advice, contact Lucas Real Estate today.

Fed Rate Cut: What It Means for Buyers in Newport Beach, Costa Mesa and Orange County

September 18, 2024
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Fed Rate Cut: What It Means for Newport Beach and Orange County Homebuyers
The Federal Reserve’s recent 0.5% rate cut could lead to lower mortgage rates, presenting an opportunity for homebuyers in Newport Beach and Orange County to secure more favorable loans. However, with increased competition and potential delays, acting quickly may be key. Learn how this rate cut impacts mortgage rates and your buying power in today’s real estate market.

When Are Trustees Exempt From Certain Disclosures in California Real Estate?

September 18, 2024
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Exemptions from Seller Disclosures: Are Trustees Really Exempt?

In California, trustees often believe they are exempt from disclosure requirements when selling property. However, if the trustee has lived in or owned the property within the past year, they must still disclose known defects. This exemption is truly meant for trustees who have no personal knowledge of the property’s condition, such as out-of-state heirs. At Lucas Real Estate, we specialize in guiding trustees through these complex transactions in Newport Beach and Costa Mesa, leveraging our legal and accounting expertise. Let us help you navigate the process smoothly.

Renting Out Rooms? How Separate Leases Could Trigger Rent Control

September 18, 2024
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Renting out individual rooms in your single-family home in Newport Beach or Costa Mesa? You might assume you’re exempt from rent control, but California’s complex legal landscape could prove otherwise. Under certain conditions, separate room leases could trigger statewide rent control and tenant protection laws—even if your property would otherwise qualify for exemptions. Understanding the nuances of the Costa-Hawkins Rental Housing Act and California’s Tenant Protection Act (AB 1482) is essential to avoid costly surprises. In this article, we explore how local laws, especially Costa Mesa’s new rent control ordinance, interact with state protections and what you need to know to stay compliant.

How to Host the Ultimate Backyard Labor Day Party

August 26, 2024
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As summer draws to a close, there’s no better way to celebrate than by hosting the ultimate Labor Day backyard party. At Lucas Real Estate, we understand the value of creating unforgettable moments in your home, whether you’re settling into a new space or making the most of your current one. Here’s how to throw … Continue Reading

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Understanding Heggstad Petitions: Securing Real Property for Your Trust

August 18, 2024
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In Newport Beach and Coastal Orange County, it’s not uncommon for property owners to overlook transferring real estate into a trust before passing. A Heggstad petition can resolve this issue by allowing the property to be added to the trust without going through probate. Discover how Lucas Real Estate can assist you in securing your real property efficiently and effectively.

Addendums vs. Amendments in Real Estate Contracts: What’s the Difference?

August 18, 2024
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Understanding the difference between addendums and amendments in real estate contracts is crucial for successful transactions, especially in competitive markets like Newport Beach and Costa Mesa. This blog explains when to use each form, ensuring smooth modifications to your agreements. Whether adding terms to an initial offer or making adjustments to an existing contract, knowing how to navigate these documents can make all the difference in securing a successful sale. Learn more about how Lucas Real Estate can guide you through these complexities with expertise and precision.

How Offering Buyer’s Agent Compensation Can Benefit Sellers

August 12, 2024
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Discover why offering buyer’s agent compensation can benefit sellers in Newport Beach, Costa Mesa, and coastal Orange County. Learn how this strategy attracts more buyers, ensures smoother transactions, and maximizes your property’s value. Stay ahead of real estate changes with Lucas Real Estate’s expert guidance. Read more to find out how to leverage these benefits in your next sale.

Late Summer Sales: How to Grab Buyers’ Attention in August

July 18, 2024
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Listing your home in late summer can attract motivated buyers looking to settle before the new school year or holidays. Use extended daylight to showcase your property, maintain top-notch curb appeal, and stage outdoor spaces to highlight their potential. Add seasonal touches and keep your home cool for showings to make your property shine.

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