Hello! Welcome to February, It’s time to catch up on things. As you know, housing is one of the most important aspects of life, whether you are a homeowner or a renter. So, in this letter, I’m sharing some of the latest news to help keep you up to date.
On my home front, my mom is moving to North Carolina to live with my brother this month. If you have ever helped relocate a parent, you understand the process is not simple. In addition, we are getting her home ready for the market. Thankfully the years assisting other families in the same situation have been invaluable.
Understanding the new rules for homeowners over 55 under Proposition 19. Previously, only select counties allowed a one-time tax-base transfer. Now all counties in California participate, and the replacement property can have a value greater than the former primary residence and keep the lower tax rate. However, there are new restrictions on child-parent transfers. A simplified read on the new rules posted online. Understanding Prop 19
Preventive maintenance isn’t glamorous, but the payoff can be huge. Maintaining your property well does not mean everything has to be the latest and greatest. Experts say for every dollar you spend, you save $100. This posted article focuses on drainage, AC, and windows. Take a look! February Home Chores
The Truth about the Market. The real estate market is complex, and it’s impossible to make a blanket statement about what is happening. Media reports of home prices falling are exaggerated. While it is true that some listing prices have dropped, overall, home prices are still up 10% over last year. Lack of inventory, an abundance of buyers, and a dip in interest rates have buyers still competing for properties. The fact-based article I posted is worth reading. The truth about home prices
Density bonus projects, why it’s near impossible for communities to stop them. So much superb info. This is a must-read article posted online. There are several proposed along Foothill Blvd. Understanding desity bonus projects
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