SANTA BARBARA, Calif. - The U.S. News & World Report says Santa Barbara is the number one best place to live in the United States for the weather in 2018.
Tourists from all over the world come to Santa Barbara for various reasons and now they have another. The report says that Santa Barbara only experiences 6 days below freezing out of the year and only 3 days above 90 degrees with an average of as few as 79 cloudy days per year.
The U.S. Federal Reserve (FED) has upped the funds rate under the auspices of its chair Jerome Powell for the second time this year.
Change is coming to the mortgage industry in the form of lessened restrictions for many community banks, along with greater consumer protections.
The Federal Reserve announced that while economic activity has continued to strengthen along with the labor market, it will not raise rates following its May meeting.
Last week, C.A.R.’s (California Association of Realtors) Board of Directors approved a motion to proceed on a parallel route for achieving its goals and ask the legislature to put the Property Tax Fairness Initiative on the ballot for March 2020. If that effort is successful, C.A.R. will not need to pursue the initiative for the November 2018 ballot.
On the surface it may look like the Tax Cuts and Jobs Act is bad for real estate. The reduction in the deductibility of mortgage interest and the combined $10,000 cap on state and local tax (SALT) deductions for income, sales and property, along with the elimination of moving expense deductions would make a compelling argument. But after digging through the fine print, the outcome is that real estate may actually be the big winner.