Selling Tips

Helping Seniors Transfer Property Taxes

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Portability Initiative is Designed to Help 55 and Over to Sell Their Homes and Buy Another

The California Association of Realtors (CAR) is attempting to qualify a ballot initiative, The Property Tax Fairness Initiative, that will restructure the way property taxes are calculated for buyers over the age of 55 (also the disabled and/or natural disaster victims).

CAR says, “A large part of the reason why (55 and overs are not moving) is that, even if they want to downsize or move closer to family, the prospect of a property tax increase of 100, 200, or even 300 percent, effectively locks our parents and our grandparents in their homes.” Thus, CAR maintains, “The Property Tax Initiative will help these homeowners to sell their current homes and move without being subjected to what is effectively a massive moving penalty”.

How will it help? Currently there are only limited conditions under which someone over 55 may transfer his or her old tax base to a newly purchased home. The Initiative would expand this.

“C.A.R.’s Property Tax Fairness Initiative would allow homeowners 55 years of age or older to transfer their Prop. 13 tax-base to a home of any price, located anywhere in the state, any number of times.”       –taken from realtytimes.com 2-13-18

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For All Things Real Estate                           Gary and April Greer 951-522-0518

 

 

 

California Housing Market Forecast 2018

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California Housing Market Forecast 2018

With the economy expected to continue growing, housing demand should remain strong and incrementally boost California’s housing market in 2018, though a shortage of available homes for sale and affordability constraints will be a challenge, according to the 2018 California Housing Market Forecast, released by California Association of Realtors (C.A.R.).

“Solid job growth and favorable interest rates will drive a strong demand for housing next year,” said C.A.R. President Geoff McIntosh. “However, a persistent shortage of homes for sale and increasing home prices will dictate the market as housing affordability diminishes for buyers struggling to get into the market.”

  • The forecast sees a modest gain in existing single-family home sales of 1.0% next year, up slightly from the projected sales figure of 421,900 units for 2017. The 2017 figure is 1.3% higher compared to 2016.
  • The average for 30-year, fixed mortgage interest rates will increase slightly to 4.3% in 2018, up from 4.0% in 2017 and 3.6% in 2016, but still will remain low by historical standards.
  • The California median home price is forecast to increase 4.2% to $561,000 in 2018, following a projected 7.2% increase in 2017 to $538,500.

All information deemed reliable but not guaranteed.  Taken from CAR.org 10/17/17

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Gary and April Greer, Realtors CalBre# 01235358/01240571

 

Showing Homes with a Lock Box

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WHY ARE THERE STILL COMBO LOCK BOXES ON OCCUPIED HOMES OR ANY HOME FOR THAT MATTER?? If you only realized how easily access to your home can be gained with this method…

Below is an illustration of the differences between the electronic key box and the combination lock box.  When you are selling your home- the public is being invited inside.  The best protection we can give that situation is to control and monitor the access by restricting it to persons that are LICENSED to provide that access.  And that is why we ALWAYS provide an electronic key box for our clients.

lockbox

 

Electronic Combo
Expensive Cheap
Purchase or Lease from the Board of Realtors Buy one anywhere
Can only be opened by a licensed agent or vendor that is a member of the Board of Realtors and is in “good standing” Anyone can open
Logs Showings with date/time and Broker/Agent information Not capable
Alerts Listing Agent when accessed Not capable
Can be programmed to restrict showings by time Can be opened whenever by whomever

Our advice is to allow the lock box to determine who gets inside (NOT YOU) because the most unsafe thing you can do is open the door yourself.  Insist that your agent provide an electronic lock box and then be gone for showings.

If you are considering a move we would love the opportunity to meet with you and go over our marketing and showing strategy for optimum results!

Call, text or email  (951) 522-0518 or april@teamgreer.com

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GARY AND APRIL GREER

Newsletter July 2017 by Team Greer

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Would you like a printed copy of this monthly newsletter delivered via USPS?  Please text me your address with “newsletter” included in the message.  (951-522-0518  April Greer