The Dark Side of Proposition 19: Its Dramatic Property Tax Increase on Inherited Property – Why You Should Consider Gifting or Selling Family Property to Your Children Before February 15, 2021

  • November 19, 2020
  • devinlucas

Editorial Summary

California Proposition 19 is a massive property tax hike on the next generation of property owners. It wipes out the current Proposition 58 and Proposition 193 family transfer benefits, effective February 16, 2021. This is potentially the largest property tax increase in California history… but it will only impact the next generations; this is a new death tax and inheritance tax on real property owners’ heirs.

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How to Write a Real Estate Mediation Brief

  • May 22, 2020
  • devinlucas

Preparing for a real estate mediation can be stressful, but a well prepared concise brief will not only help the mediator to understand your case, it will also help you to organize your thoughts and positions.  Here, we discuss what makes a good mediation brief and some suggestions for the same.   BACKGROUND  Real estate disputes … Continue Reading

devin lucas presenting

Real Estate Cancelations, Deposit Disputes and “Force Majeure” Claims Re Coronavirus (COVID-19) – Video Edition!

  • May 1, 2020
  • devinlucas

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

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Real Estate Cancelations Surrounding Coronavirus (COVID-19)

  • March 24, 2020
  • devinlucas

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

Eviction Notice crossed out to signal do not evict

It’s Official – California Has Statewide Rent Control

  • February 3, 2020
  • devinlucas

It’s Official – California Has Statewide Rent Control… Many exemptions exist that will apply to most small owners; corporate owners are the primary target of the current law. … This New Statewide Rent Control Has Two Key Components: 1) Caps Rental Increases; 2) Requires “Just Cause” For All Evictions.

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1031 Exchange – Overview / How To

  • October 10, 2019
  • devinlucas

There may be no better tax incentive for investment real estate than the 1031 Exchange.  Named in reference to section 1031 of the Internal Revenue Code, the “1031 Exchange” allows an income tax free (or tax deferred, see below) exchange of investment real estate with wide latitude as to what real estate can be purchased … Continue Reading

November California Housing Data: Volume up 14%; 11 Strait Months of year-over-year Price Increases; Cash Buyers 32.5% of All Sales; 30-Year Mortgage Down to 3.32%

  • December 14, 2012
  • devinlucas

November property prices were up 2.1% from October and 19.3% from November 2011, making this past November the 11th straight month of year-over-year increases, according to the real estate information firm DataQuick. Volume was up over 14%, making November the highest month of volume in six years. “More buyers feel confident about their jobs, the … Continue Reading

Foreclosed Properties Are No Longer the “Deals” They Once Were

  • November 23, 2012
  • devinlucas

Orange County, Newport Beach and Costa Mesa Buyers Take note – The days of a foreclosed home being sold for 20 percent or more under market value are all but gone in the Southern California and Orange County marketplaces, especially in ideal locations such as Newport Beach and Costa Mesa.  And with good reason.  Well-priced … Continue Reading