Jeanette Ogden, Realtor

Proposition 19 (Statewide Tax Basis Portability) With the passage of Proposition 19, a homeowner who is 55 years of age or older, severely disabled or whose home has been substantially damaged by wildfire or natural disaster may transfer the taxable value of their primary residence to: A replacement primary residence Anywhere in the state... Regardless of the value of the replacement primary residence (with adjustments if "greater" in value) Within two years of the sale Up to three times (but without limitation for those whose houses were destroyed by fire) Proposition 19 will supersede the old rules which limited this exemption to the sale and purchase of a principal residence within the same county (Proposition 60) or between certain counties (Proposition 90) -- but only if the replacement property was of "equal or lesser value" and only one time. Prop 19 tax portability clearly applies to any sale or purchase on or after April 1, 2021. However, if you wish to obtain the tax benefits of Proposition 19 for a transaction that closes prior to April 1, 2021, whether it is buying or selling a property, you should seek the advice of a qualified California real estate attorney or tax advisor

Owning a home is still more affordable than renting a home. How is this possible? Historically low mortgage interest rates. In 2020, mortgage rates reached all-time lows 16 times, and so far, they’re continuing to hover in low territory this year. These low rates are a big factor in driving affordability.... If you’re considering buying a home this year, give me a call today to learn more about the options that match your budget while affordability is in your favor.

Historically low mortgage rates are a big motivator for homebuyers right now. In 2020 alone, rates hit new record-lows 16 times, and the trend continued into the early part of this year. Many hopeful homebuyers are now wondering if they should put their plans on hold and wait for the lowest rates imaginable. However, the reality is, acting sooner rather than later may be the actual win if you’re ready to buy a home. While only a slight increase in mortgage rates is projected ...for 2021, some experts believe they will start to rise. Over the past week, for example, the average mortgage rate ticked up slightly, reaching 2.79%. This is still incredibly low compared to the trends we’ve seen over time. Right now, the inventory of houses for sale is also at a historic low, making it more challenging than normal to find a home to buy in many areas. As more buyers hit the market in the typically busy spring buying season, it may become even harder to find a home in the coming months. With this in mind, Len Keifer, Deputy Chief Economist for Freddie Mac, recommends taking advantage of both low mortgage rates and the opportunity to buy. While today’s low mortgage rates provide great opportunities for homebuyers, we may not see them stick around forever. If you’re ready to buy a home, it’s time to chat with me you can take advantage of what today’s market has to offer.

This image helps show just how different the Sacramento region housing market is right now compared to last year. What stands out to you? Does anything surprise you?