183. LOS ANGELES CITY WATER CONSERVATION ORDINANCE JANUARY 1, 1999.

All homes sold in the City of Los Angeles require retrofit bathrooms with ultra low flow flush toilets. This mean replacing all toilets prior to the close of escrow! You do not have to replace … [Read more...]

182. CAPITAL GAINS TAXES

In 2003 the maximum rate on the net capital gains rate of an individual (net long-term capital gains less net short-term capital losses) went to 15 percent. Net capital gains previously taxed at 10 … [Read more...]

181. MUST A SELLER ON SELLER’S AFFIDAVIT OF NON-FOREIGN STATUS PROVIDE SOCIAL SECURITY # TO THE BUYER?

Yes. Concerns about identity theft have made sellers wary about providing their social security numbers to buyers in real estate transactions. However, Internal Revenue Code 1445(b)(2) provides that … [Read more...]

180. Zipforms CONTRACTS KEEP CHANGING IN SMALL WAYS.

Expect to find changes in all the contracts that you did not know were coming. C.A.R. does announce the small changes they are making to all the contracts - changes C.AR. believes makes for better … [Read more...]

179. ARE ALL REAL ESTATE AGENTS REALTORS?

In a major victory for REALTORS, a three-judge panel of the U.S. Trademark Trial and Appeal Board has unanimously ruled that "REAlTOR" and "REALTORS" are not generic terms. The ruling came as part … [Read more...]

178. ALWAYS GIVE DOCUMENTS TO THE CLIENT – NOT TO AN INTERMEDIATOR

Courts have ruled that agents are at fault when the clients have not received documents, even if the agents gave the documents to someone who represented the clients, such as an attorney. If the … [Read more...]

177. GOING DOOR KNOCKING?

Many agents today are having a lot of luck with canvassing. The health benefits of walking a couple of miles a day has been essential to staving off illness. The financial benefit is also … [Read more...]

176. HOW DOES SHOPPING FOR A LOAN AFFECT A BUYERS CREDIT SCORE?

GOOD NEWS FOR HOME BUYERS. California passed into consumer law protection for borrowers who shop for loans from several lenders within a short time period. As you know, "inquiries" is a derogatory … [Read more...]

175. YOU DO NOT KNOW ALL THERE IS TO KNOW

If you think you dont need to stay informed, youre sadly mistaken. The real estate industry is one of the most important economic industries in California. 1/3 of ALL legislative bill is related to … [Read more...]

174. CAN BUYERS TAKE THEIR PROPERTY TAX WITH THEM WHEN THEY BUY A NEW HOME?

Some can! If either spouse is over age 55, and they are buying a home of equal or lesser value than the home they are selling, and they are buying within the same county, then the old property tax can … [Read more...]