3 Top Blog Posts For January 2023

1: Homeowners over 55+ Prop19
 Understand the new rules about selling and transferring property to children and grandchildren under Proposition 19.
The new benefits and restrictions under Prop 19

Excerpt from the post: 
Unlike the previous rules, this law provides significant benefits even if the replacement residence is more expensive than the principal residence that is being transferred. This is a significant change from the previous rule.

Proposition 19 also revised the Parent-to-Child exemption to limit the types of transfers between parents and children that can be exempted from reassessment and the property tax benefit available.

2: Off-Market Properties
Here's an example of an off-market property:
In La Crescenta, I have a listing coming soon to the market with 3 on a lot above Foothill. 
You receive all the property details when you sign up for my Sneak Peeks.
Register for Off-Market Property emails

Why you need to register.
Rules that allow agents to release property information before being listed in the local Multiple Listing Service have changed dramatically over the past year. The only way off-market properties can be released to the public is if there is direct contact with the agent from you. What does this mean? If you are signed up to receive off-market listings, this means you have given me permission to share this information with you. You are now a registered contact. Why should you register? At any given time, JohnHart has over 100 properties scheduled to hit the market. Some of these sellers are willing to sell off-market. Either way receiving off-market properties allows you, the consumer, time to consider the property and do the appropriate homework before the home hits the market. 

3: The truth about what's really happening in today's real estate market... minus the media sound-bites.
Facts about our housing market
Not included in the above article are a few other points to consider ​​​​​why prices will not go down much anymore.

• Trillions in equity. Homeowners have so much equity; if they need cash, banks are starting to give out equity lines of credit.
• Very low-interest rates. Try to convince someone right now to forfeit their 2.5% 30-year mortgage. I dare you.
• High rents. Their mortgage payment is, in some cases, is lower than rent.
• Gig economy. So many options to supplement income. If they can’t make their payment, they drive for Uber.
• ADU or JDUA. If the homeowner can no longer keep up with payments, they’ll rent a room, garage, etc.
• Work-from-home effect. Less overhead than leasing commercial space.
• Builders didn’t keep up with supply. I can go on about this for days.
• Baby boomers and Gen X. Never have we seen two generations with more wealth. Baby boomers are not selling. Gen Xers have purchased homes in the last few years that they’re more than likely retiring in.