In California, transfer taxes are imposed on the transfer of interests in commercial or residential real property. Equity transfers, such as the purchase of membership interests in an LLC, can result in a "change in ownership" of the entity and trigger transfer taxes....
California has the 2nd highest cost per sq-ft of property in the US. The avg house price in California is ~$774K. The avg size of a house in California is 1,820-sq-ft....
The share of million-dollar homes is growing across the nation's largest metros. San Jose, CA Avg home value: : $1.2M San Francisco Avg home value: $1M...
When deciding whether to move or remodel a home, many factors should be considered, such as the cost of materials, the cost of hiring a contractor, the need for specific features, and the location of the home. Researching home prices and neighborhoods in the area can help determine if it is better to move or remodel. Continue to full article...
When selling real estate, it is important to understand the potential tax burden as the IRS may be entitled to a share of your earnings. If you are selling your primary residence, you may be able to take advantage of the capital gains exclusion, allowing you to exclude some of your profits from taxable income. Depending on the amount of profits and filing status, the exclusion can be up to $500,000 for...
New home sales in the US fell 2.5% in June, but were still up 23.8% year-on-year. The median new house price dropped 4.0% year-on-year. The housing market is showing signs of stabilization, with an acute shortage of previously owned homes underpining demand. Despite rising mortgage rates, the Fed raised its policy rate by 25 basis points to a 5.25% to 5.50% range. This could delay a recovery in the...
Private Mortgage Insurance (PMI) is a type of insurance that protects the lender in case the borrower is unable to pay back the loan. It is typically required if the borrower is making a down payment of less than 20% of the purchase price. The cost of PMI varies, but it typically ranges from $30 to $70 per month per $100,000 borrowed. Homeowners Protection Act requires lenders to stop charging PMI...
Home sales in California have reached their highest level in 8-mo in May. However, overall home sales are still lower yearly. Home sales: Statewide: ↑ 10% MoM Bay Area: ↑ 30%...
The global real estate market is expected to reach USD 8,364,886.92 million by 2027. The market is forecasted to grow at a CAGR of 4.14% during the forecast period. Trends Impacting the Real Estate Market in 2023: 1- Sustainability and Green Buildings 2-Technological Integration 3-Urbanization and Mixed-Use Developments...
Homeowners insurance is essential for mortgage loans and protects against property damage and liability. Premium rates can increase over time, and understanding the reasons behind the rise is crucial....
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