Ready to refresh your outdoor space for spring?
Even the smallest patio or balcony can become a stylish retreat with a few thoughtful upgrades. From cozy furniture ideas to creating privacy with lush greenery, we’re sharing five easy ways to elevate your outdoor living—tailored for homes in Newport Beach, Eastside Costa Mesa, and the surrounding coastal communities.
Discover how to turn your space into a sunny sanctuary, whether you’re prepping to sell or simply soaking up the SoCal lifestyle.
IRS Section 121 allows a reduction of potential capital gains taxes by $250,000 for single filers and $500,000 for married filing jointly filers when certain tests are met for the sale of your primary residence.
Can a Vacant Property Qualify for a 1031 Exchange?
The IRS focuses on investment intent, not just rental income, to determine eligibility. Key factors include the original purpose of acquisition, tax treatment, marketing efforts, and whether the property was ever used personally. Court cases like Alderson v. Commissioner and Reesink v. Commissioner have ruled that properties held for appreciation—despite never being rented—can still qualify.
Read the full article for key legal precedents and expert guidance.
Spring is the perfect time to sell in Newport Beach, Costa Mesa, and Coastal Orange County! 🌸☀️ With buyers actively searching, making a few strategic upgrades can set your home apart. From boosting curb appeal and decluttering to staging for that perfect coastal vibe, these simple steps can help you sell faster and for top dollar. Thinking about listing your home this spring? Let’s chat—Lucas Real Estate is here to help you maximize your home’s value!
Looking to build long-term wealth? Investing in a rental property in Newport Beach, Costa Mesa, or Coastal Orange County could be the smartest financial move you make! 🏡💰 Whether you opt for a steady, cash-flowing long-term rental or a high-income vacation rental, both strategies offer reliable income, tax benefits, and long-term equity growth. Want to explore the best investment opportunities? Let’s chat—Lucas Real Estate is here to guide you!
Navigating showings and accessing tenant-occupied properties requires a strategic approach. Whether you’re coordinating open houses, dealing with an uncooperative tenant, or considering a cash-for-keys agreement, understanding the legal landscape and best practices can make all the difference. From providing proper notice to leveraging incentives for tenant cooperation, landlords have options to ensure a smooth sales process while staying compliant with California law.
Thinking about upgrading your home in 2025? In Newport Beach, Costa Mesa, and Coastal Orange County, smart improvements can boost both your lifestyle and your property’s value. From luxurious kitchen remodels and spa-inspired bathrooms to energy-efficient upgrades and expanded outdoor living spaces, the right updates can make all the difference in our competitive market. Whether you’re selling soon or just want to enhance your home, these strategic upgrades will keep your property in high demand.
Want expert advice on maximizing your home’s value? Contact Lucas Real Estate today!
2025 IRS Gift and Estate Tax Limits Reach Historic Highs
The IRS has raised the lifetime gift and estate tax exclusion to a record-breaking $13,990,000 per person for 2025, with the annual gift exclusion increasing to $19,000 per recipient. These high thresholds offer a unique opportunity for substantial tax-free gifting and estate planning, but they are set to revert to much lower levels in 2026 unless Congress acts. Learn how to maximize these benefits while they last, especially if you own high-value real estate in Newport Beach, Costa Mesa, or the surrounding areas.
Capital Gains Tax Rates for 2025: What Home Sellers Need to Know
Planning to sell your home in Newport Beach, Costa Mesa, or other high-value areas in 2025? Stay informed about the updated capital gains tax rates. For 2025, single filers can enjoy a 0% rate for gains up to $48,350, with higher rates applying to gains above this threshold. Married couples filing jointly benefit from a 0% rate up to $96,700. Learn how the IRS Section 121 Exclusion can save you $250,000 to $500,000 in taxable gains. Don’t overlook additional taxes like California’s income tax, which can push your total tax rate to 37.1%. Contact Lucas Real Estate for expert guidance on real estate sales and tax implications.
Discover the importance of title insurance for your Newport Beach or Costa Mesa real estate transactions. Learn how it protects your property rights, prevents legal disputes, and ensures a smooth home-buying process. Trust Lucas Real Estate for expert guidance and peace of mind.
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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