If you rent out rooms in your primary residence, you can still qualify for the IRS Section 121 deduction when you sell, allowing you to exclude up to $250,000 (or $500,000 for married couples) in capital gains. However, be aware of depreciation recapture rules and how renting affects your taxes. Learn more about how renting out rooms or separate units impacts your tax benefits.
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.
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.
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.
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.
Federal Court Rules on Real Estate Floor Plans: A recent federal court decision declares that using floor plans in real estate marketing is “fair use” and not copyright infringement. This ruling impacts real estate professionals in Newport Beach, Costa Mesa, and beyond. Learn how Lucas Real Estate navigates these legal complexities to protect your interests in the competitive luxury real estate market.
In today’s competitive real estate market, ensuring your Newport Beach or Costa Mesa home shines is key to a quick and profitable sale. At Lucas Real Estate, we specialize in enhancing curb appeal, decluttering interiors, maximizing natural light, and staging homes to highlight their best features. Our digital marketing strategies and competitive pricing ensure your property gets the visibility it deserves. Ready to sell your dream home in Newport Beach or Costa Mesa? Contact Lucas Real Estate today.
At Lucas Real Estate, we understand the importance of full disclosure in real estate transactions. Whether you’re a buyer or seller, knowing what to disclose and when is crucial to a successful and ethical transaction. In this article, we delve into the intricacies of disclosing prior reports and repairs, shedding light on common misconceptions and … Continue Reading
Amidst recent developments in real estate, the California Association of REALTORS® (C.A.R.) has taken proactive measures to address potential confusion surrounding buying and selling homes. As part of this initiative, C.A.R. has published an open letter in prominent California newspapers, including the Los Angeles Times and San Francisco Chronicle. The letter aims to clarify upcoming changes in business practices resulting from antitrust lawsuits, emphasizing transparency and consumer awareness.
At Lucas Real Estate, we’re dedicated to staying at the forefront of industry changes and ensuring our clients understand how these new rules will impact their home buying and selling journey. As the landscape of real estate evolves, we remain committed to guiding buyers and sellers through these transitions with expertise and clarity.
After completing any transaction that involves filing changes of ownership or title with the county, it’s not uncommon to receive a barrage of solicitations in the mail. These solicitations may come in the form of official-looking letters or notices from companies offering services related to your recent transaction.
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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