The New PROPOSITION 19 & 58 Explained Propositions 19 is designed to make it more affordable for retirees or older homeowners to sell their primary residence and move to another part of California. Set to begin April 1, 2021, eligible California properties may be sold and enjoy a property tax base transfer. That means you […]
Foreign Investment in Real Property Tax
FOREIGN INVESTMENT IN REAL Property Tax The disposition of a U.S. real property interest by a foreign person (the transferor) is subject to the Foreign Investment in Real Property Tax Act of 1980 (FIRPTA) income tax withholding. FIRPTA authorized the United States to tax foreign persons on dispositions of U.S. real property interests. A disposition […]
Veteran Loans
In 2019, about 10% of all loans written for home purchases were Veteran loans—up from about 2% before the recession, said John Bell III, deputy director of the home loan program for the Department of Veterans Affairs. Effective Jan. 1, 2020, the VA will not cap the size of a loan a veteran can get […]
Millennials
Millennials born between 1982-2000, now number 83.1 million and represent more than one-quarter of the nation’s population. Their size exceeds that of the 75.4 million baby boomers. Millennials are on track to becoming the most educated generation in history. This means they are also the generation with the most student debt. Depending on the type […]
Getting Your Mortgage
Why is there so much paperwork mandated by lenders for a mortgage loan application when buying a home today? It seems that they need to know everything about you and require three separate sources to validate each and every entry on the application form. Buyers are being told by friends and family that the process […]
Buying – What Not To Do
Don’t make a major purchase of a vehicle. An increase to your debt ratio reduces the amount of your monthly income. Wait on that new car! Don’t change Jobs – Unless you have to. Lenders like consistency and W-2 Income. Don’t give earnest money deposits directly to the seller, ever. Good faith money goes into […]
Top Tips for Buying a Home
Buying a home is an important life decision. Make sure you consider these important tips before you buy: 1. Look at your finances and decide how much you can afford.2. Make sure to physical inspect the home and property for potential fixes and hazards.3. Tour the neighborhood at different hours to get a feel for the […]