Homestead: Protecting Your Home From Creditors

From California's earliest days of statehood, the state constitution has provided that "the Legislature shall protect, by law, from forced sale a certain portion of the homestead and other property of all heads of families." Article 20, Section 1.5. Consistent with this mandate, the Legislature has passed laws that protect homeowners in two ways: through an automatic homestead exemption, and by allowing homeowners in certain circumstances to declare a homestead. The homestead law is of particular interest now because the Legislature amended the homestead laws effective January 1, 2010 to increase the amounts protected under the law.

More Houses Hitting the Market - Good for Buyers & Sellers

Sales of previously owned homes jumped 5.1% from April to a seasonally adjusted annual rate of 5.35 million, the NATIONAL ASSOCIATION OF REALTORS® said Monday.

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Getting a Mortgage May Be Easier Than You Think

Some lenders over the last couple years have eased requirements to get mortgages, but most Americans still think getting a loan is very difficult, according to a survey released Tuesday by Wells Fargo WFC -1.13% Home Mortgage and Ipsos Public Affairs.

HEY, SELLERS, GET OFF THAT FENCE

The Los Angeles real estate market is really peaking right now. The low inventory of homes on the market is causing multiple offers from the fierce competition amongst the huge number of buyers out taking advantage of the low mortgage interest rates.

But this will not last. Word is spreading to homeowners who have been on the fence about selling and who now want to enter the market because of the record-breaking sales. This will cause an increase in supply and diminish demand.

As quickly as we have seen this market skyrocket over the last couple of months, things could slow down and prices could level off and very likely even take a dip. This is your opportunity to cash in on your investment. Sellers are breaking records with home sales and surpassing the market highs of 2008 before the real estate bubble burst.

Opportunity is ringing your doorbell. Call me if you'd like to discuss selling your home. 323-528-9989.

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