Question of the Week: How Does Our Industry Use Artificial Intelligence? Artificial intelligence (AI) is broadly defined as computer systems that can perform tasks that normally require human intelligence. While “AI” has become a buzzword in recent years, the mortgage industry has quietly used AI‑type systems for decades—long before the label existed. Below are the […]
Question of the week: What is the taxpayer protection initiative and how does it affect us? Answer: It is a measure that has qualified for the November ballot that, if passed, repeals a 2017 ruling by the California Supreme Court that created a loophole in Proposition 13 that made it easier for taxes to be […]
Question of the week: What is a parcel tax, how is it different than property taxes? Answer: California, like all states, has property taxes. In California, property taxes are collected by the counties and fund public schools, infrastructure, police and fire services and government operations. The general tax levy is 1% of assessed value. The […]
Question of the week: Should we move to another state? Answer: This was a question a neighbor said they asked their tax preparer last week. The impetus for the question, of course, was the amount of taxes they were paying to the California Franchise Tax Board. It is a question that thousands, tens of thousands, […]
Question of the week: Are home prices going to “pop?” Answer: This is a question that has been batted around a few times in the past several years, and a bit more so lately. The impetus for the question is the extremely high home values we have seen, a slow sales market, continued high rates, […]
Question of the week: Are condos getting harder to sell? Answer: Maybe. Likely. The primary source of residential mortgages are Fannie Mae and Freddie Mac (henceforth, GSE, for Government Sponsored Entity), they fund approximately 70% of all mortgages in the United States. The GSE are under the umbrella of the Federal Housing Finance Agency (FHFA), […]
Question of the week: Do you own a vacation home? Answer: We do not. But…we sort of do. Vacation, or 2nd homes, can come in many forms, including per tax regulations, boats and RVs. For the latter to be included, the must contain sleeping area, cooking facilities and toilet facilities. Whether a condo in Rancho […]
Question of the week: Is 2% inflation a reasonable goal? Answer: This week’s question comes from an interesting conversation I had with a few friends, my age (63) who have, like me, closely followed economics, politics, and have a pretty good historical knowledge base. In January 2012, the Federal Reserve under Chairman Ben Bernanke explicitly […]
Question of the week: What are the tax advantage of home ownership*? Answer: *I am not a tax professional, please contact your tax preparer to determine what deductions you can or cannot claim. With the tax filing deadline approaching, the question of the week may have you looking through your records to see if you […]
Question of the week: A walkway and shrub can improve my home value? Answer: Very early in my career, around 1987 or 1988, when my territory was Fullerton and Yorba Linda, I was visiting open houses on a weekend to meet real estate agents to build my referral network. I saw a sign for an […]
