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Did You Know?

- 06/06/23

Prop. 19 allows homeowners 55 and older, the severely disabled or the victims of a wildfire to move their lower Prop. 13 tax base up to three times anywhere in California. Before the law was enacted in 2021, homeowners only got one base tax transfer, and it only worked if the new home was of equal or lesser value. Today, owners can buy up with the price differential added to their property tax rate. There are a few distinctions regarding the tax transfer. Homebuyers must file for the tax exemption in the first year of a new purchase — it’s not automatic. You have up to three years to file the base year transfer papers with your county assessor. The good news? There is no price cap with respect to the new home compared with the former home’s value. If you are buying down in value “or equal or lesser value,” then the original home’s factored base year value may be transferred to the replacement home without any value adjustment. You also can buy your up-leg residence first and then sell your former primary residence. Or, you can sell your departing residence first and then buy your up-leg home, so long as either of these is accomplished within a two-year window.

Stocks surged higher on today after a strong May jobs report and news late Thursday that the Senate passed the debt ceiling bill, easing fears over a US debt default and a marked slowdown in the economy. The US economy added 339,000 nonfarm payroll jobs last month while the unemployment rate rose to 3.7%, data from the Bureau of Labor Statistics showed Friday. This marks the 14th straight month that job creation came in above what Wall Street economists had expected.

Apple is widely expected to introduce a “mixed reality” headset at its annual developer event on Monday that offers both virtual reality and augmented reality, a technology that overlays virtual images on live video of the real world. The highly-anticipated release of an AR/VR headset would be Apple’s biggest hardware product launch since the debut of the Apple Watch in 2015. It could signal a new era for the company and potentially revolutionize how millions interact with computers and the world around them. The company is reportedly considering a $3,000 price tag for the device, far more than most of its products and testing potential buyers at a time of lingering uncertainty in the global economy.

Private Client Capital Commitment For New Custom Home in Laguna Beach

- 05/10/22

One Source Capital Group - Has committed lend $3.3 million dollars to one of its confidential clients for a new property acquisition in Laguna Beach Ca.

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Did You Know?

- 08/09/21

Did You Know?

 Clearing some supply chain bottlenecks is likely to ease inflation pressure in the coming months. But corporations aren’t going to halt their efforts to shorten, diversify, and deglobalize supply chains as insurance against future shutdowns (Bloomberg).

Mortgage rates fell further this week, reaching their lowest level in six months as investors reevaluate their outlook for long-term economic growth. For months, the market impact of pandemic-related factors has far outweighed the influence of traditional economic reports, and developments in recent weeks have reinforced that trend (Zillow Research).

 Days after a national eviction moratorium expired, the Biden administration on Tuesday issued a new, more limited freeze that remains in effect through Oct. 3. Like the previous order, the two-month moratorium issued Tuesday comes from the Centers for Disease Control and Prevention. The new ban on evictions covers parts of the United States that are experiencing what the CDC calls "substantial" and "high" spread of the coronavirus (NPR).

Did You Know?

- 07/19/21

Did You Know?

Top 6 Housing Trends

• Inventory is starting to rise, up 8% in the last two weeks with the largest gain of the year.
• Demand is on the decline after reaching its peak in early spring
• Closed Sales are at the highest level since 2005
• Fewer Homeowners are opting to list, 19% fewer listings in June compared to the prior 5-year average.
• Mortgage rates are on the rise, impacting affordability and demand.
• Appreciation will continue at a reduced pace.

Goldman Sachs argues that US housing isn't a bubble. They argue there is no "over-building of housing, over-leveraging of household balance sheets, loosening of lending standards, and over-exuberant homebuyer expectations". They also think Fed's buying of MBS has been limited as demand has been driven by other factors such as low supply and high demand.