Last week, the Federal Housing Administration (FHA) announced it was reducing the loan limit for FHA-insured loans from $729,750 to $625,500 beginning Jan. 1, 2014.  However, while the FHA is required by statutes under the Housing and Economic Recovery Act (HERA) to...

Talking Points … According to the CALIFORNIA ASSOCIATION OF REALTORS®’ (C.A.R.), California pending home sales rose in October, with the Pending Home Sales Index (PHSI) climbing 2.5 percent in October to 109.3, up from 106.7 in September, based on signed contracts. ...

Short sales in California are generally not subject to state or federal income tax for cancellation of debt. The Franchise Tax Board (FTB) issued a letter yesterday stating that, as nonrecourse obligations, short sales in California are not subject to state income tax...

Talking Points … According to the CALIFORNIA ASSOCIATION OF REALTORS®’ (C.A.R.) “2013 Renter Survey,” renters continue to hold homeownership in high esteem, and it remains a goal for the majority of them. Nearly three-quarters of renters rated homeownership as...

C.A.R.'s November 2013 Standard Forms Release will be available the week of November 25. We have 3 new and 23 newly revised standard forms that REALTORS® will be able to access through zipForm®. We will provide a new Seller Multiple Counter Offer (SMCO) for a seller...

Talking Points … According to the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.), California home sales declined for the third straight month in October, while sales of condominiums and townhomes continued to be strong. Economic uncertainty surrounding last month’s...