23 Feb 2017

End-of-Year Foreclosures Continue to Fall

Recent foreclosure data published by CoreLogic details a lengthy trend of declining completed foreclosures and mortgages at risk for foreclosure. Take a closer look at a few key figures that show some good news about 2016’s housing market. Nationwide there were just 30,000 completed foreclosures in October 2016—that’s down from 40,000 in October 2015 and 3.6% fewer than September 2016 (a significant decline). The number of mortgages in serious delinquency, and thus at greatest risk for ...

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13 Feb 2017

Single Women: The Substantial (and Overlooked) Home-buying Demographic

Your intuition can probably tell you that married couples are the largest home-buying demographic. It makes sense: between family and financial goals and the purchasing power of two people, married couples have both the incentive and the means to purchase homes. But married couples are not the only buyers. Single women make up the second largest buying demographic, ahead of single men and unmarried couples. According to the National Association of REALTORS® 2016 Home Buyer and Seller Genera...

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09 Feb 2017

Crucial Legal Updates for California Real Estate Professionals

Find here a summary of important legislative updates affecting California real estate professionals. Assembly Bill 1650—Disclosure Requirements on Solicitations New legislation has been signed into law by the governor that affects disclosure requirements on real estate solicitation materials. A.B. 1650 is concerned with real estate licensees disclosing when they are performing a task that requires a license if it is intended as a first point of contact with a consumer. Thus any publis...

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29 Dec 2016

Gragg v. United States: IRS Tax Deductions Clarified

Many real estate professionals use their knowledge and expertise to invest in real estate. They know a good deal when they see it, know the laws they need to navigate, and likely have contacts in property management or are confident in their ability to manage a rental property. Rental losses are also potentially deductible, insulating investors from some risk. But how does this deduction work? In Gragg v. United States of America; Internal Revenue Service a real estate professional was found to ...

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28 Nov 2016

Legislative Update: SB 710 Clarifies Team Name Laws

Current California law requires the listing of the company name AND responsible broker’s license number on all team advertising materials, which was not the intent of legislators when they originally wrote the law.  If you are thinking about taking real estate classes in Los Angeles and joining a real estate team continue reading.   Enter Senate Bill 710, which changes the requirement from both the “name under which the responsible broker is currently licensed by the bureau” AND ...

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18 Oct 2016

Single Women—The Substantial (and Overlooked) Home-buying Demographic

Your intuition can probably tell you that married couples are the largest home-buying demographic. It makes sense: between family and financial goals and the purchasing power of two people, married couples have both the incentive and the means to purchase real estate. But married couples aren’t the only buyers. Single women make up the second largest buying demographic, ahead of single men and unmarried couples. According to the National Association of REALTORS® 2016 Home Buyer and Seller Ge...

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19 Sep 2016

Playboy Mansion Sold for $100 Million—But Hef to Stick Around

For those of you taking our Los Angeles real estate school, you might already know that the iconic Playboy Mansion has recently been sold for a staggering $100 million, half the original asking price, to Daren Metropoulos—son of billionaire investor C. Dean Metropoulos. But Hugh Hefner won’t leave just yet—the 90-year-old will pay $1 million per year to continue residing at the estate and has the right to do so until he passes away. We’ve all seen photos and heard stories of the propert...

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22 Aug 2016

RED ALERT – Assembly Bill 1381

Earlier this morning the California Association of Realtors sent out a “red alert” regarding Assembly Bill 1381. The frenzy was caused by a last minute change that would exempt some outdoor advertising companies from needing a real estate license. This could harm many Realtor’s businesses as this is an area of specialization for some. If this bill were to pass, two problems are created: First, while real estate licensees have a fiduciary duty toward their client, it isn’t immediate...

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19 Aug 2016

Formerly Homeless Student and Veteran Housing Legislation

Homelessness is a serious problem. Despite efforts to curb it—from government housing programs to charitable organizations and shelters—it persists. A recent federal House bill (with bipartisan cosponsorship) has been written that aims to help homeless and formerly homeless students and student veterans attain housing. H.R. 5290 would amend the Internal Revenue Code to “qualify low-income building units that provide housing for homeless students and veterans who are full-time students f...

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11 Aug 2016

Are You Being Watched?

Sellers marketing their homes are often concerned about what goes on inside their house when they’re not there. This has led to the installation of surveillance equipment in many homes for sale. Maybe the seller has a security concern: who is coming into my home and what are they doing? Are they stealing? Or maybe their interests are purely professional. What are potential buyers saying about my new floors? Is my agent working hard for me? Regardless of the motive, this is something real estat...

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