The Federal Housing Finance Agency (FHFA) announced it will increase the 2024 conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac to $766,550 on one-unit properties and a cap of $1,149,825, in high-cost areas (including Orange and Los Angeles counties).
Here is your latest Eastside Costa Mesa Activity Report as of December 3, 2023, analyzing data as it affects a specific market area. The Market Summary below offers a look at sales activity for the prior month and year, along with current and past year-to-date statistics. The graphs cover several different aspects of the real estate market. Note how some of the graphs break out trends by price increments.
Here is your latest Costa Mesa Activity Report, analyzing data as it affects a specific market area. The Market Summary below offers a look at sales activity for the prior month and year, along with current and past year-to-date statistics. The graphs cover several different aspects of the real estate market. Note how some of … Continue Reading
A detailed article on the like-kind exchange aka the 1031 exchange, including requirements and discussions on use with personal residences, and interplay with the IRS section 121 exemptions. There may be no better tax incentive than the 1031 Exchange, available exclusively to real estate investors.
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.
Join Real Estate Attorney, Real Estate Mediator and Real Estate Broker, Devin Lucas, discuss Real Estate Cancelations, Deposit Disputes and “Force Majeure” Claims Surrounding Coronavirus. Aka Force Majeure, Civil Code 1511, Act of God, Unforeseen Circumstances, Impossibility of Performance, Commercial Frustration, Frustration of Purpose, and other creative phrasing of the same argument. We discuss: 1) … Continue Reading
Can you legally cancel your real estate transaction, or real estate listing, over Coronavirus (COVID-19)? What options does a buyer have to cancel, what about the seller, what about the REALTOR®? Read our below article for a preliminary discussion; watch this video where Mr. Lucas explains in detail: No doubt, real estate transactions are being … Continue Reading
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
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
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
Lucas Real Estate
2901 West Coast Highway Suite 200 | Newport Beach | California | 92663-4023
info@lucas-real-estate.com | 949.478.1623 office
Devin Lucas BRE No. 01912302 | Courtney Lucas BRE No. 02015514
Lucas Real Estate, a dynamic full-service residential real estate team led by Devin Lucas, REALTOR®, Real Estate Broker, and Real Estate Attorney, and Courtney Lucas, REALTOR® and CPA, offers unparalleled expertise in Newport Beach and surrounding areas.
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