An increasing amount of buyers who won ‘bidding wars’ are backing out of their purchases, often (per the Seller) leaving the home in a less desirable position than when it was first listed and ‘red hot’, and opening the door to deposit disputes.
Category
Costa Mesa Real Estate
Davis Magnet School lottery is now open – Newport Mesa Unified School District
Attention Newport Mesa parents…. Davis Magnet School lottery is now open. Newport Mesa Unified School District (serving all of Newport Beach and Costa Mesa) has some amazing schools… including Davis Magnet School. How do I get my child in?… you literally have to win the lottery. Lottery applications are now open – now through March … Continue Reading
Buyer Opportunities: A Slow Fall and Winter – with Rising Interest Rates – Creates Incentive and Opportunity For Homebuyers
This Fall, throughout Newport Beach, Costa Mesa and most Orange County communities, there are more and more active listings and less and less closed sales, leading to a flurry of price reductions and open houses, with sellers eager to make a deal. While by no means a “burst bubble”, there is a clear slowdown of … Continue Reading
2018 Tax Reform – Key Impacts on California Real Estate
Newport Beach, Costa Mesa, Orange County and all California homeowners – and potential homeowners – have some significant tax changes to consider and plan for in 2018. H.R. 1, known as the Tax Cuts and Jobs Act, which both houses of Congress passed on December 20, 2017, contains a large number of provisions that affect … Continue Reading
California Propositions 60 and 90 – Property Tax Transfer to New Residence
Proposition 60 allows the transfer of an existing Proposition 13 base year value from a former residence to a replacement residence within the same county, if certain conditions are met. This benefit is open to homeowners who are at least 55-years old and are able to meet all qualifying conditions, (see below) and applies in … Continue Reading
Real Estate Tax Tip For Itemizers (aka Loophole ALERT) – Consider Paying Your Second Installment Property Tax Bill Early (as 2018+ is Now Capped)
Consider prepayment of your property taxes in 2017. Newport Beach, California – H.R. 1, known as the Tax Cuts and Jobs Act, which both houses of Congress passed on December 20, 2017, contains a large number of provisions that affect individual taxpayers, especially homeowners. As of January 1, 2018 – single or married – you … Continue Reading
Feds Expand Reporting Requirements In All Cash Purchases to Some Areas of California
The U.S. Treasury in late July announced its intention to expand its Geographic Targeting Orders (GTO), temporarily requiring U.S. title insurance companies to identify the natural persons behind shell companies used to pay “all cash” for high-end residential real estate in six major metropolitan areas, including five in California. Expanding the GTOs is a continued … Continue Reading
Evicting a Tenant Over Failure to Obtain Renter’s Insurance? Think Again.
In Newport Beach, Costa Mesa, and Orange County Communities, where rental properties are abundant, landlords routinely require tenants to obtain “renter’s insurance” – insurance to protect the renter’s personal property, i.e. their T.V., clothing, etc. – in case of a fire, burglary, or other incident. Many landlords take a firm position “requiring” the tenant to … Continue Reading
Fair Housing Foundation’s Tip of the Month: Responding to Landlord Notices (and tips for landlords on how to serve a notice)
From the Fair Housing Foundation – their “Tip of the Month”… Visit www.fairhousingfoundation.com for more information… Responding to Notices Tenants: Receiving a notice from your landlord can be a very stressing occurrence. It is of the upmost importance that responding to the notice takes priority and that you respond as soon as possible to resolve the … Continue Reading
Neighbor Disputes: Repairing or Replacing a Shared Fence
In Newport Beach, Costa Mesa, Orange County Communities and elsewhere, good neighbors can be the key to a happy home; thus the reverse is also true. Neighbor disputes, frequently surrounding fence line and property line issues, can be the end-all of confrontational matters and lend to costly litigation. A shared fence, worn and in need … Continue Reading
