Lots going on in Orange County September 2023! Check out a detailed list here….
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Proposition 19 Interplay With Inheritance and Portability (55 and Older Transfer) – A Way to Make BOTH Aspects of Prop 19 Work For You
As we have written on extensively, Proposition 19, new for 2021 (replacing older propositions 58, 193, 60 and 90), has two main components, portability and inheritance. (Review our many articles on Prop 19 starting here, link to main prop 19 page.)
These two aspects can be combined in some regards, and not combined in others.
For example, if you inherit a property and qualify for Prop 19, and therefore keep that property’s low (prop 13) tax basis, you CAN then sell that property when you are 55 or older and transfer that same low (prop 13) tax basis to a new property. More details below.
Costa Mesa Monthly Activity Report – All Activity For July 2023
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
Eastside Costa Mesa Market Report (August 15, 2023)
Eastside Costa Mesa Real Estate Market Report (as of August 15, 2023)
What Are Closing Costs?
Closing costs are fees paid in connection with the refinance or transfer of ownership in real property. They are paid by either the buyer or the seller on the settlement date.
Tips for Summertime Outdoor Living
Outdoor living is as important as indoor space, especially in the summertime. Everything in your backyard — whether it’s a fire pit, dining area or theater — should be part of a well-planned, integrated design. Here are a few outdoor accessories that will turn your backyard into another room of your house.
First Impressions Matter – Get Your Home Market Ready
If you are considering selling your home, there are several things you can do now to make the best first impression on potential buyers.
Lucas Real Estate’s July Newsletter
Check out our July Newsletter complete with fun summer recipes, summer tips, a few real estate articles, our featured listing, and market reports for all of Newport Beach, all of Costa Mesa and drilled-down reports for Eastside Costa Mesa and Corona del Mar.
Real Estate Fraud Alert: Scams Are On The Rise Pertaining to Inherited Property, Paid Off Properties and Vacant Properties
This office has seen first-hand a rise in real estate fraud whereby someone simply claims to be the “owner” of a property, obtains a loan against the property, and is off and running with your home’s equity. It’s shockingly easy and not surprisingly, it’s on the rise in California and elsewhere. Inherited properties, paid off … Continue Reading
California’s New(ish) Transfer on Death Deed May Be An Ideal Solution For Easy Estate Planning, But Carries a Host of New Requirements for Compliance and Has Limitations
This is an update to our earlier article on the 2016 implication of the Transfer on Death Deed in California. What is a Transfer on Death Deed Simply put, a Transfer on Death Deed (or “Revokable Transfer on Death Deed” or “TOD”) it is a deed, recorded on your property’s title, that allows for a … Continue Reading
