Linda Hinds Trapp

05/23/2018

A $62-million price cut to Bruce Makowsky's spec mansion has made the Manor in Holmby Hills the most expensive home publicly for sale in the U.S. Also: Rooney Mara has listed her Los Feliz home for $3.45 million, and Steven Weber is seeking $1.975 million for his Malibu mobile home.

05/01/2018

The Hot Property newsletter roundup.

04/27/2018

Happy Birthday to my daughter Dana.

03/22/2018

Good information for those home buyers on the fence.

“Every time the interest rates go up, you eliminate a group of people who can no longer afford to buy a house,” says one mortgage broker.   

03/13/2018

A real bookstore...they do exists :)

Amazon will open its second bookstore in Los Angeles in Palisades Village, a $200-million redevelopment of the Pacific Palisades town center by builder Rick Caruso, creator of the Grove and Americana at Brand outdoor malls.

02/12/2018

The Pacific Palisades Office of Coldwell Banker Residential Brokerage Hosts Free Public Meeting to Discuss Prop 60 & 90, Feb. 16


PACIFIC PALISADES, Calif., Feb 9, 2018 —The Pacific Palisades office of Coldwell Banker Residential Brokerage is hosting a free public meeting to discuss a new initiative for the November 2018 ballot that would expand and improve propositions 60 and 90. The proposed changes to proposition 60 and 90 would allow homeowners 55 and older to transfer their current property tax base to a new purchase within California. This discussion will be held on Friday, Feb. 16 at 6:30 p.m. at Palisades Charter High School, which is located at 15777 Bowdoin St., Pacific Palisades, Calif.



“The California Association of REALTORS® is sponsoring this new initiative to expand current regulations, giving our seniors greater flexibility in transferring their property tax base when they move,” said Anne Russell, branch manager of the Pacific Palisades office of Coldwell Banker Residential Brokerage. “At the informative meeting, we will discuss how this will benefit all California homeowners and everyone wishing to become a California homeowner.”

02/06/2018

I went shopping Sunday (pre kick off) for accent pillows for my new sofa.
Sure wish I had seen this article first.

An interior designer reveals the secrets to mixing colorful and patterned pillows on your sofa and bed.

01/24/2018

I hope you find my post informative and to the point.



The new tax reform bill, which was signed into law by President Trump in late December, will be effective for the 2018 tax year. The National Association of REALTORS® has put together a useful summary to help you understand how the law affects homeowners and the real estate industry. Below, are direct excerpts from that summary about a few of the major provisions affecting current and prospective homeowners.

Tax Rate Reductions
• The new law provides generally lower tax rates for all individual tax filers. While this does not mean that every American will pay lower taxes under these changes, many will.
• The tax rate schedule retains seven brackets with slightly lower marginal rates of 10%, 12%, 22%, 24%, 32%, 35% and 37%.
Exclusion of Gain on Sale of a Principal Residence
• The final bill retains current law – a significant victory that NAR achieved.
Mortgage Interest Deduction
• The final bill reduces the limit on deductible mortgage debt to $750,000 for new loans taken out after December 14, 2017. Current loans of up to $1 million are grandfathered and are not subject to the new $750,000 cap. Neither limit is indexed for inflation.
• Homeowners may refinance debts existing on December 14, 2017 up to $1 million and still deduct the interest, so long as the new loan does not exceed the amount of the mortgage being refinanced.
• The final bill repeals the deduction for interest paid on home equity debt through December 31, 2025. Interest is still deductible on home equity loans (second mortgages) if the proceeds are used to substantially improve the residence.
• Interest remains deductible on second homes, but subject to the $1 million/$750,000 limits.
Deduction for State and Local Taxes
• The final bill allows an itemized deduction of up to $10,000 for the total of state and local property taxes and income or sales taxes. This $10,000 limit applies for both single and married filers and is not indexed for inflation.
• The final bill also specifically precludes the deduction of 2018 state and local income taxes prepaid in 2017.
Standard Deduction
• The final bill provides a standard deduction of $12,000 for single individuals and $24,000 for joint returns. The new standard deduction is not indexed for inflation.

None of the information in the NAR report is intended as tax advice, so please consult your tax adviser for additional guidance.

11/08/2017

10/22/2017

The Hot Property Newsletter roundup.