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 […]
Hello friends. Can you believe all the rain? Mammoth and many mountains have all time record snow and they have been keeping records since 1893. Have you heard about the “California Double?” Surfing and snowboarding on the same day have become a reality. The Queen Mary is open again for public tours for the first […]
HOW DOES SPRING 2023 LOOK? Mortgage rates around 6% Inventory of homes for sale is low Qualified buyers are out there Job market holding up despite tech dip Stock market improved in March All together meaning better than expected for sellers! DOES PREPARING YOUR HOME FOR SALE PAY OFF? We recently had a home that […]
Hello friends. Happy St. Patrick’s Day. Looks like the drought is broken with record rainfall and snowpack. However, it is still smart to conserve water when you can. Have you recently seen a rainbow? Westbrook has been traded to the Clippers but LeBron got injured so the new look Lakers will have to wait until […]
