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The Best 4th of July Spots | L.A. Eats

The 4th of July is getting closer and while the traditional way to celebrate usually involves lakeside picnics, backyard cookouts, and firework displays, those who are city-bound for the holidays are starting to think of celebrating differently this year. Because of this, we have compiled a list of the best places to have dinner on the 4th of July while maintaining the essence of our traditional Independence Day celebration. So, if you want to avoid large crowds, a smoking grill, and lots of noise, read on to find out what restaurants will be open and happy to welcome you on the 4th of July.

1. Blue Plate Oysterette

Location: 1355 Ocean Ave. in Santa Monica, CA

Celebrating the 4th of July is all about the birth of a great nation, and there’s no better way to do so than by selecting a place with a menu as varied and American as the Blue Plate Oysterette’s. From their delicious New England clam chowder to Maine lobster and a fantastically seasoned grilled chicken, nothing represents American food better than this breezy restaurant does.

2. BOA Steakhouse at Luckman Plaza

Location: 9200 Sunset Blvd. in West Hollywood, CA

With a delicious combination of truly American delicacies, ranging from delicious steaks to seafood and even burgers, the impressive outdoor patio of BOA Steakhouse is sure to provide the break you need from the crowds and noise that can usually interfere with your 4th of July celebration, so kick back, have a drink and enjoy the best food on this side of town.

3. The Castaway

Location: 1250 E. Harvard Rd. in Burbank, CA

Featuring specialty steaks and a wonderful menu filled with truly American choices, this wonderful steakhouse also offers magnificent views of the San Fernando Valley, so, with a bit of luck, you may even catch a fireworks display as you celebrate the 4th of July in style. To make your night complete, the menu also offers gluten-free options for those who require them.

4. Gwen

Location: 6600 Sunset Blvd. in Los Angeles, CA

This culinary haven established by Chef Curtis Stone as a tribute to his grandmother offers some of the most incredible American-style entrees you can find in Los Angeles to celebrate the 4th of July. From deliciously grilled pork chops to bone-in rib-eye steaks, this butcher shop and restaurant are a meat lover’s paradise.

5. Eureka!

12101 S. Crenshaw Blvd. Hawthorne, CA

Located only 20 minutes away from Los Angeles in the Hawthorne Municipal Airport, Eureka! Offers a more traditional cuisine to help you celebrate the 4th of July. With a wonderful selection of gourmet burgers that are made with a combination of all-natural beef and some very intriguing toppings, the menu also features a nice list of options for those who are looking for something a bit different, including blackened salmon Caesar salad. To top it all off, the restaurant also offers a good selection of craft beers, whiskeys and California wines.

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5 Great Places to Go Camping this Summer | Out & About

The warmth of summer days and the dark skies over some of Southern California’s most beautiful campgrounds can make for an amazing experience regardless of whether you take your kids, or go with your significant other or a group of friends. Being able to look at the sky and see a shooting star or two while enjoying an enticing campfire and a snack or two will make for an adventure you will never likely forget. Because camping is a way of bonding with your family or friends and can create memories unlike any other place, here is our list of the best places to go camping in Southern California this summer. All within a short distance of Los Angeles.

1. San Onofre Bluffs Camping grounds

Located just an hour’s drive away from Los Angeles, this delightful campground, which is a great choice for those with campers or RVs, provides 175 places to set up camp and a direct entrance to the San Onofre surfing beach, making it one of the best places for those who want to enjoy a few nights under the stars after a long day of riding the waves and having fun in the sun.

2. Serrano Camping grounds In The San Bernardino National Forest

If traditional forest and camping are more to your liking, this is the place to be. Located a little less than two hours away from Los Angeles, within walking distance from Big Bear Lake, and catering to tent campers, it offers a wide selection of camping sites where you can enjoy a few days of swimming in the lake, enjoying the forest, and hiking throughout the area. Enjoy a good ghost story or two as you sit by the fire at night and let your imagination run wild in what could possibly be one of your best camping experiences.

3. The Ranch At Bandy Canyon

For those who enjoy a more modern version of camping, with a cabin and many wonderful amenities nearby, this wonderful 44-acre ranch has a lot to offer, including a pool and horseback riding. Enjoy a weekend away from the hustle and bustle of your daily life and enjoy a couple of nights of camping, the rancher way.

4. Mount Laguna

If you are in the mood for a hiking adventure and stunning night sky views, Mount Laguna is ideal! Located a little over 2 hours away from Los Angeles, there are several trails you can follow. Open fires are allowed in designated areas. Likewise, you’ll enjoy a mountain adventure like no other.

5. Indian Cove Campground

Nothing can compare to the starry skies visible from the desert. That’s what makes Indian Cove a beautiful camping location. With only a 2-and-a-half-hour drive from Los Angeles, you’ll have many memories you won’t easily forget. The views of the rock formations will also give you plenty of opportunities for exploring and adventure!

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Top Summer Herbs to Plant This Season | Home Tips

With its Mediterranean-like climate, Southern California is ideal for growing many herbs that thrive in seaside countries like Italy, Greece, and France–herbs that are popularly used in many popular recipes. You can enhance your summertime feasts with fresh summer herbs from your summer garden. The following are some of the top summer herbs that are likely to thrive in our setting. In fact, with their relatively sparse watering needs, these herbs are ideal for Southwestern inland and coastal gardens.

Oregano

A popular herb used in many culinary traditions ranging from Italy and Greece to Mexico and Turkey, oregano is a versatile plant that is easy to grow and may even offer medicinal properties, including improved digestion and blood sugar regulation. Many Southern California gardeners grow oregano to flavor sauces, soups, and stews. You can grow this plant directly in your summer herb garden, grow it in raised beds, or install it in a pot on your patio or terrace. To care for your oregano plants, avoid overwatering them and either water in the early morning or evening. If your garden soil is compacted, amend it with sand to ensure optimum growing conditions for oregano.

Rosemary

With its slightly pungent flavor, rosemary is a great addition to stews, meat dishes, and oily fish dishes. It pairs particularly well with vegetables like potatoes as well as meats and poultry. Rosemary thrives in sunshine and prefers a slightly loamy soil. Well-draining soil is a must, and you should also avoid overwatering these summer herbs. You can also grow rosemary in a pot placed in a sunny window of your home. Rosemary seldom needs to be fertilized.

Mint

Add minty flavor to your maridades, pestos, or even your cocktails right from your summer herb garden. Mint thrives in sunshine but will also grow in partial shade. Be sure your plants have plenty of space for good air circulation in order to avoid mildew. These herbs prefer a light, well-draining soil that’s slightly loamy. Unlike the previous two herbs mentioned above with their drought-tolerant properties, mint is less forgiving if kept dry. Be sure to water your mint plants early in the morning or evening.

Sage

Not only is sage a lovely summer herb for any garden, it is extremely useful as a kitchen herb. Especially popular in holiday recipes, sage is easy to dry for use in the winter. To grow sage, choose a sunny site with well-draining soil. After these summer herbs flower in the summer, you should cut them back so they don’t become woody and to encourage new plant growth. Mexican sage is popularly grown in Southern Californian herb gardens. Not only is it great for cooking, but can also be burned in your fire pit to keep mosquitos away.

Lavender

Lavender may not be as useful in the kitchen as the above herbs, but it is a lovely addition to pasties and teas. Plus, it boasts beautiful small blooms that will add fragrance to your garden and floral displays. Lavender prefers a sunny, dry location and requires minimum care. It also repels pests like flies and mosquitoes. In addition, Lavender is drought-tolerant, so don’t overwater this lovely herb.

These summer garden herbs are perfect to grow year after year. You can use them fresh from your garden or dry them for use all year long.

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Economic Update for Week Ending June 25, 2022

Stock markets soared to rebound from three straight weeks of steep losses – Stocks markets jumped again on Friday and posted their second best week of the year. Comments from Federal Reserve officials and testimony by Fed Chairman Powell to Congress this week led sinvestors to believe that future rate hikes would not be as severe as previously thought. Powell also testified that he felt that even if there were to be a recession, which he felt could be avoided, it would be mild. He quoted many reasons for his belief in the strength of the economy which included: the strong position of U.S. banks, the strength of labor markets, the strength of the housing market and home equity, and a strong dollar. A key inflation index showed that commodity prices have fallen as recession fears have grown, indicating that the rate hikes are working and that inflation may be moderating. The Dow Jones Industrial Average closed the week at 31,500.68 up 5.4% from 29,888.78 last week. It is down 13.3% year-to-date. The S&P 500 closed the week at 3,911.74, up 6.5% from 3,674.84 last week. The S&P is down 18.0% year-to-date. The NASDAQ closed the week at 11,609.62, down 7.6% from 10,789.35 last week. It is down 25.8% year-to-date.

U.S. Treasury bond yields – The 10-year treasury bond closed the week yielding 3.13%, down from 3.25% last week. The 30-year treasury bond yield ended the week at 3.26%, down from 3.30% last week. We watch bond yields because mortgage rates often follow treasury bond yields.

Mortgage rates – The Freddie Mac Primary Mortgage Survey reported that mortgage rates as of June 23, 2022, for the most popular loan products, were as follows: The 30-year fixed mortgage rate was 5.81%, up from 5.78% last week. The 15-year fixed was 4.92%, up from 4.81% last week. The 5-year ARM was 4.41%, up from 4.33% last week.

U.S. existing-home sales – The National Association of Realtors reported that existing-home sales totaled 5.41 million units on a seasonally adjusted annualized rate in May, down 3.4% month-over-month from the annualized number of sales in April. Year-over-year sales were down 8.6% from the annualized rate of 5.92 million in May 2021. The median price of a home in the U.S. in April was $407,600, up 14.8% from $355,000 one year ago. May marked a record 123 consecutive months of year-over-year increases in the median price. Inventory levels increased 12.6% from April, but are still 4.1% below the number of homes for sale in May 2021. There was a 2.6-month supply of homes for sale in May, up slightly from a 2.5-month supply last May. First-time buyers accounted for 27% of all sales. Investors and second-home purchases accounted for 16% of all sales. All-cash purchases accounted for 25% of all sales. Foreclosure and short-sales accounted for less than 1% of all sales remaining at a historic low.

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From new AI on IG to Updates at FedEx and More! | Tech News

Another week, another round-up of the leading tech news across the world wide web. In this week’s weekly write-up, we’re talking about a new AI tool from IG, major updates with FedEx, and more! Read on and stay connected with the world of tech!!

Google News Unveils Personalized Desktop Redesign

In honor of its 20th birthday, Google News has unveiled a revamped version of its desktop design. The latest version gives more prominence to local news and personalized content. Likewise, with the latest update, users will be able to customize topics to better fit their search. In addition, users can also add multiple locations to the “Local News” section through their settings button. This change marks Google’s latest effort to become more user-friendly with a series of platform updates in the past two quarters. Of course, the biggest change is that various categories of news like world, business, and science will be more accessible. 

New AI tool being tested at Instagram can Verify Your Age through Facial Scan

A new AI tool is in the works at Instagram. The social media platform is currently testing a tool that can verify age via facial scan. Built by a third-party company, Yoti, the tool is Instagram’s latest attempt at providing a safer space for users 13 and older. Likewise, the tools are meant to aid with privacy and child safety across all users of the platform. Approved for use in the UK and Germany, Yoti is well–established in the field of the online age and ID verification. Users can even try out Yoti’s age verifying tool now directly on the company site if interested in seeing how the potential IG tool may work.

Gene-editing Technology CRISPR may be able to help combat climate change

The technology behind CRISPR and its ability to create new crops may be able to help fight climate change. Researchers recently received $11 million in funding from the Chan Zuckerberg Initiative to aid in the efforts. Likewise, the funds will go towards enhancing plants like rice and soil. The technology would be able to better trap carbon dioxide emitted through sourcing the crop. CRISPR, which was founded by Nobel laureate and co-inventor Jennifer Doudna, is led by the Innovative Genomics Institute. “[Jennifer] and I saw eye to eye on climate and how big of a problem it is in the world. And we just didn’t want to sit on the sidelines anymore,” says Innovative Genomics Institute (IGI) executive director Brad Ringeisen.

FedEx to soon Photograph Packages as Proof of Delivery

If you have ever had an issue locating a delivered package from FedEx, you may soon have a solution. The company is working on creating its own tool to provide proof of delivery via photo in instances where a signature is not required. “This is something e-commerce merchants and customers have been asking for, and we are proud to be the first to announce this service will be available to residential customers,” Brie Carere, FedEx’s chief customer officer, said in a press release announcing the program this week. Likewise, the service will be free and available for FedEx Express and FedEx Ground delivery customers. The service will also serve as a good form of protection for FedEx, in instances where a package is reportedly lost. The tool will be available in select markets first before launching in the US and Canada.

Twitter to Create built-in Notes feature

Character limits may be coming to an end on Twitter. The company is currently developing a tool for long-form blogging on the popular social media platform. Aptly name Twitter Notes, the company confirmed the new tool via tweet this week. Currently only available to select users in the US, UK, Canada, and Ghana, users will be able to read notes on and off Twitter. The company showcased how the tool will work through two separate GIFs in its tweet announcement. The tool will allow users to embed a Note into their tweet for a long-form post option. Likewise, users can also mix in images and videos to the long-form posts. 

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Weekend Events | June 24 – June 26

The weekend is around the corner and the time for fun is almost here. If you are looking for fun things to do from June 24 through June 26, we’ve got you covered! Read on for our weekend roundup of local happenings around town.

LOS ANGELES | WEEKEND EVENTS JUNE 24 – JUNE 26

Viva! L.A. Music Festival

When: Jun 25, 2022

Where: Echo Park

What: Homegrown fest Viva L.A. is getting an upgrade to a full-blown stadium-caliber lineup this summer. J Balvin, Daddy Yankee, Kali Uchis and Becky G top the lineup for the 10th edition of Viva L.A. Music Festival on June 25 at Dodger Stadium.

Hollywood Bowl Jazz Festival

When: June 25 – June 26 

Where: The Hollywood Bowl

What: Groove along to the jazz beats of past and present at this weekend’s Hollywood Bow Jazz Festival. The two-day concert will feature musical performances from the Roots, Tower of Power, Gordon Goodwin, and more!

Latino USA: Live in L.A.

When: June 26 

Where: Downtown Historic Core

What: Journalist Maria Hinojosa interviews actor and taquero Danny Trejo at this weekend’s live edition of Latino USA. The KPCC-presented event will also feature a stand-up set from Marcella Arguello.

 

WESTSIDE AND BEACH COMMUNITIES | WEEKEND EVENTS JUNE 24 – JUNE 26

The Venice Fest

When: June 25 

Where: Mar Vista

What: Support and celebrate local businesses in Mar Vista for this weekend’s Venice Fest. There will be over 100 vendors to check out along with artisans, food, and DJs!

SaMo PRIDE

When: Until June 26 

Where: Downtown Santa Monica

What: For the last weekend of Pride, make your way to the Third Street Promenade! The weekend celebration showcases 15 local LGBTQ+ vendors, along with DJ sets and more!

Poolside Cinema at the Fairmont Miramar

When: until September 4

Where: Santa Monica

What: Enjoy a seaside flick at the Fairmont Miramar in Santa Monica. Just in time for Memorial Day weekend, fun film flicks are back at the Santa Monica hotel’s luxurious pool. Every Saturday night during the summer, you can catch a film while enjoying the sunset and delicious bites. 

 

SAN FERNANDO VALLEY | WEEKEND EVENTS JUNE 24 – JUNE 26

Movies on the Roof

When: June 24 

Where: Westfield Fashion Square | Sherman Oaks

What: Westfield Fashion Square invites you to a joy-filled alfresco film series this summer. Catch flicks like Back to the Future and La La Land, with ticket sales, support Hope of the Valley.

Getty 25 Festivals

When: June 25 & June 26 

Where: Pacoima

What: The Getty Center continues its 25 years celebration this weekend with a two-day art fair in Pacoima. Likewise, the event will include music, workshops, food, and of course art!

 

Barefoot in the Park presented by Dig Deep Theatre

When: June 24 – June 26 

Where: The MAIN | Santa Clarita

What: Enjoy this Neil Simon classic presented by Dig Deep Theatre! Barefoot in the Park tells the story of newlyweds Corie, a free spirit, and Paul Bratter, an uptight lawyer, live together in a sixth-floor apartment in New York. Soon after their marriage, Corie sets up her mother, Ethel, with neighbor Victor. Inappropriate behavior on a double date causes conflict and Corie and Paul consider divorce.

 

CONEJO VALLEY | WEEKEND EVENTS JUNE 24 – JUNE 26

Ventura County Greek Festival in Camarillo

When: June 24 – June 26 

Where: Camarillo Airport

What: It’s time for the 43rd annual Ventura County Greek Festival! Presented by St. Demetrios Greek Orthodox Church the event features live Greek music, folk dancing, food, delicious pastries and baklava, vendors, and a kids’ play area.

Summer Art & Music Event at Harley’s Valley Bowl

When: June 25

Where: 5255 Cochran St | Simi Valley

What: Live music, visual artists, vendors, and bowling! This is what you can expect to find and more at this weekend’s Summer Art & Music event. Free all day for all ages, you’ll love this summer festival of fun!

101st Midsummer Festival 

When: June 26 

Where: Vasa Park |  Agoura Hills.

What: The Swedish American Central Association of Southern California invites you to its 101st Midsummer Festival this Sunday. The festival will of course include stage performances, dancing, and delicious food.

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LA Eats | Our Favorite Breakfast Sandwich Spots

When you bite into a perfectly made breakfast sandwich, it can be a truly transcendent experience. In Southern California, there’s no shortage of great places to get your morning fix. Whether you’re craving something fried, smoky, or savory, there’s a breakfast sandwich for you. Here are our top choices for breakfast sandwiches around town.

First Cup Caffe’s Croissant Breakfast Sandwich

Starting your day with a delicious breakfast at First Cup Caffe in the Wells Fargo Plaza can be the best decision you’ll ever make! It’s hard to beat their croissant sandwich with bacon or ham, egg, cheese, and fresh tomatoes for a hearty breakfast. You can also go for the mouthwatering breakfast spinach wrap that includes scrambled eggs, ham or bacon, salsa, and sour cream.

Catch’s Chick N’ Egg Sandwich

If you’re in the mood for brunch in West Hollywood, you can’t go wrong with Catch. The delicious Chick N’ Egg Sandwich comes with a sunny-side-up egg, organic crispy chicken, caramelized onions, pickles, arugula, and herb mayo. A Catch’s hearty sandwich and a steaming cup of coffee on a slick rooftop patio will get your day off to a great start.

Chaumont Bakery & Cafe Breakfast Sandwich

The breakfast sandwich at Chaumont Bakery & Cafe located on Beverly Avenue in Beverly Hills is a must-try. This tasty and spicy sandwich is made with beef bacon and a fried egg on top of cheese, greens, mayonnaise, and mustard. The Chaumont Bakery Breakfast sandwich is a winner because of its crispy outside that encases a fluffy interior, which is the ideal complement to the runny yolk of an egg.

Gjelina Take Away’s Turkey Egg and GTA Egg Sandwich

Located on Abbot Kinney, breakfast sandwiches at Gjelina Take Away aren’t what you’d expect to find at your average fast-food joint. When it comes to sandwiches, the GTA egg sandwich, and the turkey egg sandwich are two of the most popular choices. The star of the show in the Turkey Egg Sandwich is the fried egg with pesto and fontina. The GTA egg sandwich, on the other hand, features braised kale and cheddar, an egg, bacon, and hot sauce on an English muffin.

In a nutshell, breakfast is the most important meal of the day, so starting with a delicious breakfast sandwich is a great way to get your day started right!

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Best Free Outdoor Music this Summer | Out & About

Do you crave live outdoor music? If you love outdoor concerts and other live entertainment, check out the available live events and activities happening in your area!

Grand Performances

Enjoy free outdoor music concerts every Saturday until Sept 24 at the California Plaza stage in DTLA. It features live performances by a diverse mix of bands from around the world. Expect world-class and jaw-dropping music, dance, and more. Likewise, everyone is welcome at this free concert — no age limit!

Getty 25 Festivals

Celebrate with Getty Center as it turns 25 years this year! They are hosting a series of free live outdoor music festivals across Los Angeles, collaborating with the local community and artists. From May to August, prepare for some live music and performances, workshops, and photo booths all for free and no reservations are required!

Expect a family-friendly weekend filled with music, dance, art, and food! And there’s more! Apart from the free outdoor music, you get to also enjoy interactive workshops, skateboard demonstrations, marching bands, art-making, and an astonishing digital experience of Getty collections!

Levitt Pavilion Los Angeles

It’s that time of the year when free live music comes swelling all over the city. Enjoy free shows on the weekends featuring a mix of local arts from ska to cumbia and EDM. The free live outdoor music is available from the months of June, July, August, and September! It’s going to be a fun-filled summer for everyone!

SaMo PRIDE

Watch out for free live outdoor music events on Third Street Promenade from June 17 to 19 including DJ sets, an outdoor market, and an episode of Mortified Podcast. There are events held every day from Monday to Sunday, and all of them are for free!

If you love live DJ spinning, join them every Saturday and Sunday from 2 pm to 5 pm at Center Plaza listening to your favorite beats while soaking up the Santa Monica sun.

In addition, apart from the live music, everyone is invited to see family-friendly displays and activities at Santa Monica Pier, Santa Monica Place, and Downtown Santa Monica in collaboration with over 15 LGBTQIA+ artisans and makers. Sustainable clothing, jewelry, handmade pottery, beautiful weavings, and Ecuadorian textiles are available.

Jazz at LACMA

Do you love jazz music? Enjoy free live music at LACMA featuring jazz legends. In addition, you get to also enjoy a self-guided music experience inspired by music from McQueen’s runway shows. If you love creative writing, feel free to join the writing workshops featuring a series of prompts exploring popular culture, power, and advertising.

Are You Ready for Summer?

There are loads of free music and other events in Southern California. Feel free to join most of them if you have a lot of time to kill. Contact us if you have further questions.

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Tips for Keeping Your Home Cool this Summer | Home Tips

Keeping your home cool during the summer months in Southern California can be tricky but worth the time to review a few tips. Use these helpful tips to keep your home cool this summer without heavily relying on your AC so that you can prevent your household from becoming a heavy contributor to greenhouse gases.

Keep Your Blinds Shut

One of the easiest ways to keep your home cool on a hot summer day is simply to close your blinds. Blinds are a great way to reduce the amount of heat that is able to build up inside of your home, and the simplest way to lower the temperature by a few degrees immediately if you keep them shut at night into the daytime hours. Blinds located on the north and west side of your home are the most effective, but every window helps.

Consider Other Ways to Block the Heat

Blinds are not the only way that you can block heat from coming into your home, awnings and large plants on the exterior of your home can also help reduce the amount of sunlight that is able to come in. Plan for the long term and plant some deciduous trees so that they block the sunlight during the summer months but allow heat to drift in naturally during the winter months.

Fully Utilize Ceiling Fans

During the summer you need to set your fans to rotate in a counter-clockwise position otherwise they will just be pushing hot air around your home. This simple change allows air to be pushed down which will actually create a cooling effect. Then when the winter months come switch the direction clockwise so that cool air is once again pulled upwards.

Entertain in the Evenings

Take advantage of the cooler weather during the evening hours and choose to entertain outdoors so that you can enjoy the natural cool of the day and avoid the urge to turn up the AC to please your guests. Plus, grilling dinner outdoors is a great way to avoid the uncomfortable task of cooking dinner in a semi-warm kitchen.

Depending on what part of summer it is, you can also open up the windows in your home during the evening hours to help cooler air circulate throughout your home. If your home is properly sealed, you can trap the cooler air in the morning by closing up your home and keeping your home temperature moderately controlled throughout the day without using your AC.

Optimize Your Lightbulbs

If your home still feels warm, you might want to check your lightbulbs. Incandescent lightbulbs actually produce heat, so if you are using these instead of energy-saving bulbs it might be time to make the switch

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The Reason Housing Inventories Remain So Low

California existing-home sales – The number of homes sold in May plummeted as home prices continued to appreciate at a near double-digit pace!

The California Association of Realtors reported that existing-home sales totaled 377,790 on a seasonally adjusted annualized rate in May, down 9.8% from April, and down 15.2% from last May. Existing-home sales year-to-date through May are down 8.9% from the number of homes sold in the first five months of 2021.

The statewide median price paid for a home in May was $898,980, up 1.9% from April, and up 9.9% from May 2021.

There was a 2.1-month supply of homes for sale in May, up from a 1.8-month supply of homes for sale in April, and a 1.8-month supply in May 2021.

 

Pending sales which represent new contracts signed declined 30.6% in May. That’s an alarming drop which is similar to what we saw in the first month of the pandemic when the shutdown was announced. We watch pending sales to forecast sales 30-60 days later. This is due to a shortage of homes for sale, increasing interest rates, lower affordability, and some erosion of confidence, but it’s impossible to say which of these factors are most impactful, especially with prices climbing at such an accelerated rate.

 

There are still several reasons people are not putting their homes on the market and moving at a normal pace. They are:

  1. 1. Taxes. With prices, so high many people have far exceeded the $250,000/$500,000 gain exclusion. Their taxes are about 37% of the gain over the exclusion. They just can’t sell and buy another if they need to pay the 37%.

     

    2. They fear that they won’t find a home to buy due to low inventory.

     

    3. They don’t want to give up their low-interest rate loan and pay a much higher rate on their new home.

     

    4. They are uncertain about the future.

    When people don’t sell it keeps inventory low. That forces prices up, even when affordability drops. There is not a lot that can be done except raising the amount of gain that’s exempt from taxes or allowing sellers to defer those gains to their move-up home much as they could do with an investment property. The $250,000 for a single taxpayer and $500,000 exemption for a married couple filing a joint return was set in 1995. It’s never been increased to allow for appreciation and inflation, yet the prices of homes are four times higher than they were in 1995. A change in tax law will create more sales and stabilize prices the day it’s enacted!