According Jeff Daniels of CNBC, citing a recent study by UCLA, California housing market is cooling off. Job growth and demand for housing in the state remain strong, but home sales have slowed and prices are falling across the state. Rising interest rates are a factor, but do not account for all the cooling in the market. The average home … [Read more...]
Can New Zoning Laws Take My Home?
Zoning laws change; where a houses once stood, commercial buildings are moving in and taking over, and zoning is changing from residential commercial. When this happens, a few important questions arise: Is my home legal? Can I get a loan on my home? Can I rebuild my home if destroyed? A property's zoning status is classified as legal, … [Read more...]
BPO Not Accepted by IRS as Appraisal
Broker opinions are not qualified appraisal says IRS If you have been a real estate appraiser for any length of time, you have likely done appraisals for estate purposes such as date of death, gifting or trust. Not long ago, the IRS accepted valuations from any "qualified" source including real estate brokers or salespersons who provide the … [Read more...]
Should I Remodel My Home?
The Alvin Bynum house, circa 1875, photo date 1954 The BIG question I just spent $100,000 on a new fancy kitchen, so why isn't my home worth $100,000 more than it was yesterday? I get this question enough that I thought I would write a short blog. However, I come from a long line of Irish engineers and in our family nothing is worth … [Read more...]