According to this article, it is better to inherit a house as opposed to received it as a gift (for tax reasons):
http://www.bankrate.com/brm/news/realestateadviser/20090111-inherit-home-versus-gift-a1.asp
The reasons being the benefit of "step-up" for the basis of the house upon the death of the original owner.
Sunday, January 11, 2009
Sunday, January 4, 2009
New FHA Conforming Jumbo Loan Limits
The new conforming loan limits have been set:
http://www.bankrate.com/brm/news/mtg/20090101_FHA_new_loan_limits_map_a1.asp
Here are the new limits for some counties in California (CA):
http://www.bankrate.com/brm/news/mtg/20090101_FHA_new_loan_limits_map_a1.asp
Here are the new limits for some counties in California (CA):
Alameda | $ 625,000 |
Orange
| $ 625,500 |
Alpine | $ 463,450 |
Placer
| $ 474,950 |
Amador | $ 417,000 |
Plumas
| $ 417,000 |
Butte | $ 417,000 |
Riverside
| $ 417,000 |
Calaveras | $ 417,000 |
Sacramento
| $ 474,950 |
Colusa | $ 417,000 |
San Benito
| $ 625,500 |
Contra Costa | $ 625,000 |
San Bernardino
| $ 417,000 |
Del Norte | $ 417,000 |
San Diego
| $ 546,250 |
El Dorado | $ 474,950 |
San Francisco
| $ 625,500 |
Fresno | $ 417,000 |
San Joaquin
| $ 417,000 |
Glenn | $ 417,000 |
San Luis Obispo
| $ 561,200 |
Humboldt | $ 417,000 |
San Mateo
| $ 625,500 |
Imperial | $ 417,000 |
Santa Barbara
| $ 603,750 |
Inyo | $ 417,000 |
Santa Clara
| $ 625,500 |
Kern
| $ 417,000 |
Santa Cruz
| $ 625,500 |
Kings
| $ 417,000 |
Shasta
| $ 417,000 |
Lake
| $ 417,000 |
Sierra
| $ 417,000 |
Lassen
| $ 417,000 |
Siskiyou
| $ 417,000 |
Los Angeles
| $ 625,500 |
Solano
| $ 417,000 |
Madera
| $ 417,000 |
Sonoma
| $ 520,950 |
Marin
| $ 625,500 |
Stanislaus
| $ 417,000 |
Mariposa
| $ 417,000 |
Sutter
| $ 417,000 |
Mendocino
| $ 417,000 |
Tehama
| $ 417,000 |
Merced
| $ 417,000 |
Trinity
| $ 417,000 |
Modoc
| $ 417,000 |
Tulare
| $ 417,000 |
Mono
| $ 529,000 |
Tuolumne
| $ 417,000 |
Monterey
| $ 483,000 |
Ventura
| $ 598,000 |
Napa
| $ 592,250 |
Yolo
| $ 474,950 |
Nevada
| $ 477,250 |
Yuba
| $ 417,000 |
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