What is a Stepped-Up Basis? Many people have heard the term “stepped up basis” but are not sure what it means. A stepped-up basis is when a homeowner passes away, their home’s value is reset for their heirs. The heirs pay capital gains only on the difference between the new market value at the time […]
Hello Friends. Summer is here and so is the warm weather. Will Angels super star Ohtani be a Dodger by the time you get this newsletter or still an Angel? He is a free agent at the end of the season and is expected to get a record breaking $500 million dollar or more long […]
Hello Friends. Summer is here, can you believe it? Congrats to the Denver Nuggets on winning their first NBA title. Did you know the Miami Heat were only the second number 8 seed to make the finals? The Dodgers relief pitching needs to improve and Ohtani continues to shine for the Angels. The weather service […]
How Does Summer 2023 Look for Home Sales? Mortgage rates, which vary daily, have been stuck in the 6.5% plus or minus range. This seems high compared to last year. However, buyers have been using short term buy downs, fixed rate loans that float after 3 to 7 years and adjustable loans to help qualify. […]
Hello Friends. The Lakers finished off the Warriors in a 4-2 series and are headed to the Western Conference finals. First time ever that all four CA teams made it to the playoffs, the Lakers, Clippers, Warriors & Kings. The Dodgers are playing over 600 and Angels are over 500 so far. With all the […]
Why is the Real Estate Market Better than Expected? The real estate market suffered last year when the Federal Reserve started raising interest rates to combat inflation. By June of 2022 mortgage rates hit 6%, more than double the 2.75% rates found in January. While 6% is good by historical standards many buyers no longer […]
