There's been lots of talk about the tax law changes coming down the pike in Congress, but most of it has been big-picture talk. But let's get hyper-local here: What will the changes mean for Manhattan Beach homeowners and home buyers?

Realtor Dave Fratello takes an in-depth look at the tax changes in his blog, Manhattan Beach Confidential this week, specifically as it relates to property tax deduction, capital gains exclusions, the mortgage interest deduction, and the tax rate for rental income.

"As the Senate and House work to iron out differences in their versions of the legislation, only one thing is really clear: These tax law changes will create uncertainties and challenges for the real estate market everywhere," said Fratello. "Homes and homeowners in pricey coastal markets like Manhattan Beach could take an especially rude punch from the new tax legislation."

For more details, read the full story on Manhattan Beach Confidential here.