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...
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%...
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...
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....
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...
Purchasing a home is a complex process that requires careful planning and preparation. It is important to make sure finances are in order and be ready to stay in the same location for several years. The steps involved include finding a reliable real-estate agent, finding a lender with the best rates, getting pre-approved for a mortgage loan and making an offer. Continue to full article...
The California’s market is adjusting to higher mortgage rates and rising inflation. Home prices vary, with some areas transitioning from a seller's market to a more neutral setting. Median sales prices have decreased between 2022 and 2023, making homes slightly more affordable....
The California commercial real estate forecast shows a mixed outlook due to rising interest rates and economic uncertainty. Office development remains cautious due to the impact of high interest rates on market fundamentals. Multifamily housing demand stays strong in metropolitan areas, driven by state laws and growth in inland parts of the state....
Building materials costs have increased, although lumber prices have stabilized after reaching a record high in 2021. Other materials like wood stains, shingles, siding, and insulation have seen significant price spikes.Despite higher costs, construction industry professionals encourage continued building, renovating, and home purchasing....
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