California Proposition 13 – 2018 Update

Prop 13 Portability Proposal

California Realtors are initiating a signature campaign to put a new proposition on the November 2018 ballot that would expand tax breaks for homeowners age 55 and older or for disabled persons. The main purpose of the new proposal is to allow senior and disabled homeowners to transfer their low Prop 13 tax assessment anywhere in the state, to use it as often as they want and to pay any price for a their next home.

Because of the appreciation on homes in California, Proposition 13 was put in place to minimize the rate at which real estate taxes would increase and use the purchase price as the base, not the market value. This is especially important for those folks on fixed incomes. Taxes are based on the property’s assessment not market value and only change to market value when the property sells. There are many homeowners in our area that would like to move, yet because they can’t transfer their tax base to all the Counties in the State.

A nonpartisan Legislative Analyst’s Office projected this measure would boost home sales. It is complicated from the standpoint of the individual counties, who know how much tax revenue is needed to operate. If passed all 52 counties would have to accept the transfers.

Read the rest of this entry

San Ramon-Danville-Alamo 2017 Home Sales Recap

2017 home sales for Danville, San Ramon and Alamo final numbers:

  • Danville:  636 Single Family Detached homes sold at a median price of $1,299,500 up 8% over 2016
  • Alamo: 202 Single Family Detached homes sold at a median price of  $1,643,500 at par with 2016 sales numbers
  • San Ramon: 750 Single Family Detached homes sold at a median price of $1,101,000 up 7% over 2016

The charts below compare three years of sales data….2015, 2016 and 2017

 

 

 

 

Read the rest of this entry

Prop 13 Portability Proposal

California Realtors are initiating a signature campaign to put a new proposition on the November 2018 ballot that would expand tax breaks for homeowners age 55 and older or for disabled persons.

The main purpose of the new proposal is to allow senior and disabled homeowners to transfer their low Prop 13 tax assessment anywhere in the State. To use it as often as they want and to pay any price for their next home.

Real Estate Taxes are based on the property’s assessment not market value, and only change to market value when the property sells.

A nonpartisan Legislative Analyst’s Office projected this measure would boost home sales. It is complicated from the standpoint of the individual counties, who know how much tax revenue is needed to operate. If passed all 52 counties would have to accept the transfers.

Read the rest of this entry

7 Realizations You’ll Have Selling Your Home

Selling a home is just one of those experiences you’ve got to go through to truly understand—it’s a lot more involved, emotional, and exasperating than you might think.

In an effort to prepare folks for this process—or at least help you laugh and nod if you’re already in the thick of things—check out these moments that will strike a chord with any seller who’s been there, done that, and lived to tell the tale.

1. Excuse me, you want me to clean/paint/remove what?

It may be hard to hear negative criticism of your house from your agent, but this is an inherent part of selling a home. Indeed, you might think that each complaint—no matter how small—is a blow to your design aesthetic, or a knock on how well you’ve maintained the property. But the reality is this info can help you sell your home.

Read the rest of this entry

Bay Area …Are We In A Housing Bubble..Read what experts say

Image result for bubbles

According to these experts, we are not in a housing bubble. Prices in the Bay Area are holding steady in most cities and some are still going up due to high demand. Here is what these experts say.

“With residential home prices continuing to appreciate at levels above historic norms, some are questioning if we are heading toward another housing bubble (and subsequent burst) like the one we experienced in 2006-2008.

Recently, five housing experts weighed in on the question.

Rick Sharga, Executive VP at Ten-X:

“We’re definitely not in a bubble.”

“We have a handful of markets that are frothy and probably have hit an affordability wall of sorts but…while prices nominally have surpassed the 2006 peak, we’re not talking about 2006 dollars.”

Christopher Thornberg, Partner at Beacon Economics:

Read the rest of this entry

 Page 1 of 53  1  2  3  4  5 » ...  Last »