Thursday, November 19, 2020

New listing - 11837 Delavan Circle, Rancho Cordova, CA 95742

Stunning single level 4 bedroom, 2.5 bathroom, approximately 2,401sf Rancho Cordova / Anatolia home, lovingly maintained by just one owner! You will appreciate the optimal integration of indoor and outdoor spaces. Formal entryway leads to sizable living room with large sunny windows that let the outside in! Large formal dining room. Spacious open kitchen with pantry, granite counters, island and breakfast bar overlooks the large family room and has access to the backyard! Spacious hallway bedrooms and hallway bathroom on one side of the house, while your private primary suite is situated on the other side- enjoy dual closets and a sitting area that leads to the backyard. Luxurious ensuite bathroom offers dual sinks and a separate tub and shower. 3-car garage. HUGE, park-like backyard has enviable manicured gardens, seasonally blooming flowers, and lots of space to enjoy coffee and conversation or the perfect al fresco dining on a crisp evening. All this with the amenities of the Anatolia HOA (dues $103/mo), pools, gym, parks, trails, and more! Don't wait! Offered at $529,900. For 3D virtual tour, additional photos and detail please visit 11837 Delavan Circle, Rancho Cordova, CA 95742.

Wednesday, November 11, 2020

New Listing - 640 Casmalia Way, Sacramento, CA 95864

Your home search is over! Lovingly maintained by the same owner for nearly 3 decades, this impeccable 2 bedroom / 2  bathroom, approximately 1,654sf Arden Park home is ready to be somebody's new beginning. You will love the spacious, open layout. Enter to find a sizable living room with a large sunny window that lets the outside in, wood floors, and a cozy fireplace with gas starter. Formal dining room with built-in storage bench and shelving. Remodeled kitchen with stainless appliances leads into a large family room. Two spacious hallway bedrooms with lots of closet space. Hallway bathroom has a separate tub and shower. Large bonus room with bathroom is great for a home office or possible 3rd bedroom. HUGE, park-like backyard has lots of sunny space to garden or play. Entertain guests on the expansive deck, or enjoy the perfect al fresco dining on a crisp evening. Composition roof, central HVAC, dual pane windows, attached garage. All this located near award-winning k-12 schools, parks, shopping & more. Don't wait! For more information and a 3D virtual tour visit 640 Casmalia Way, Sacramento, CA 95864.

Wednesday, November 4, 2020

New Listing - 4328 Edison Avenue, Sacramento, CA 95821

Stunning 3 bedroom, 2.5 bathroom, approximately 1934sf home in Arden Arcade offers an optimal blend of indoor and outdoor spaces. Where would you like to hang out on this .41ac lot? By the built-in pool, under the shade of the awning or canopy of trees, in your sunny garden...There are abundant options for coffee and conversation, or the perfect al fresco dining on a crisp evening. Inside, the formal entry leads to a spacious living room with a gas fireplace. The remodeled kitchen is the perfect place to refine your culinary skills. A separate family room awaits, with a half bathroom and small bonus room perfect for exercise equipment. Spacious hallway bedrooms and remodeled hallway bathroom. Primary bedroom has dual closets and luxurious ensuite bathroom with dual sinks and a step-in shower. The backyard is an outdoor oasis with a custom pool, trimmed with flagstone and stamped patio, surrounded by manicured gardens. All this with remote/access controlled driveway gate. Bring your RV or toys! Section 1 and 2 pest clearance. New section of sewer line. Don't wait! Offered at $525,000. For more photos and a 3D virtual tour, visit 4328 Edison Avenue, Sacramento, CA 95821.

Monday, November 2, 2020

Tuesday, October 6, 2020

California Proposition 19, and why I am voting YES...

Several colleagues, friends, and clients have asked me recently about a few of the propositions that will be on the ballot for this upcoming election. I guess with my 15-year tenure as a realtor and a graduate degree in public policy they must think I know what I am talking about. Ballots are going out in the mail this week, so I thought it would be timely to post a little information for those who are interested. Today I will explain is Proposition 19, the "The Home Protection for Seniors, Severely Disabled, Families, and Victims of Wildfire and Natural Disasters Act". 

Proposition 19 is on the ballot as a result of a California State Assembly Constitutional Amendment - ACA11 (Mullin), which passed through the legislature with bipartisan support this summer. The proposition has a few main components. 

(1) It expands existing law (previously, Proposition 60 and Proposition 90) to allow seniors, the victims of wildfires, and severely disabled, to transfer their existing property tax base up to 3 times, anywhere in the state, and to a property of higher or lower value. Currently seniors can transfer their property tax base, but they have to stay within the same county AND buy a home of lesser value than the home they ultimately sell. Often these individuals need to move to another county to be closer to family where it is not possible to buy a lesser priced home. For example, if you want to sell a home in Sacramento but want to buy in Alameda where homes generally more expensive you may have a difficult time buying a lesser priced home. If they buy a higher priced home, they would be able to pay a new blended rate based on the difference between the home they sell and the home they buy. Currently people who lose homes in wildfires do not have the option to transfer their existing tax base for the home they lost to a replacement property. And often disabled people need to sell and purchase different homes that can better accommodate their disabilities. 

As a realtor, I encounter situations all the time where people decide to stay in homes they can not maintain or that are too large now that the kids are gone, and they do so just because they cannot afford a higher property tax bill. For example, I have an elderly client whose adult kids have moved away, her husband died, and she can't afford to downsize from her 4 bedroom home into a condo near her kids because on a fixed income she cannot afford the increase in property tax. This would allow people in these types of situations to sell and right-size their living situation with no tax penalty. And with the number of homes lost recently to wildfires, it will allow those who are wildfire victims and never intended to move to not suffer a tax penalty as well. And to allow disabled persons to buy homes that better accommodate their disability is a no-brainer. 

(2) The second component is that it reforms the inheritance tax exclusion. Existing law (previously, Proposition 58 and Proposition 193) allows parents and grandparents to leave their children and grandchildren residential properties and transfer the low property tax base. It also allows property tax base transfer of commercial and other investment property with assessed value up to $1M. Proposition 19 would allow tax base transfer of inherited properties with assessed value up to $1M to family members who will OWNER OCCUPY the home. It also eliminates tax base transfer of inherited commercial and investment property. 

A couple of years ago a LA Times article brought to light that actors Jeff and Beau Bridges inherited a Malibu beach-front property valued at like $20M with a tax base of a few hundred thousand. They use the property as an income-producing a vacation rental and rake in the profit while paying relatively little property tax. This "focusing event" prompted the California Legislative Analyst's Office (LAO) to study this issue of the Inheritance Tax Exclusion. The LAO report noted that MANY people who inherit properties benefit from keeping a low tax base and use the properties for income and profit substantially from this low property tax. The LAO recommended the the legislature look into this, as the original intent of Propositions 58 and 193 was to pass this tax base along to relatives who were going to live in their parents' and grandparents' properties. As a result, there was actually a proposed California Senate Constitutional Amendment (SCA3 Hill) that passed through several committees before Hill pulled it knowing it's provisions would be included with another proposal. 

(3) As there will be additional property tax revenues generated as a result of these changes to property tax assessment transfers, Proposition 19 increases revenues to local governments, and for part of the additional revenues establishes the California Fire Response Fund to specifically fund firefighting efforts.

As it stands, there is a broad and bipartisan coalition of support from MANY groups who don't often see eye-to-eye on things. You do not frequently see Senior and Disability Organizations, Fire and Public Safety Advocates, Labor Organizations, Community Advocates, Education Advocates, Political Organizations, and Business and Trade Organizations support the same initiative.

So with that, I am an enthusiastic YES vote on Proposition 19. Proposition 19 addresses several problems and inequities I see frequently while funding additional support to fight California's wildfires, and providing funding local governments and schools.

Wednesday, September 16, 2020

New Listing - 3125 Carly Way, Sacramento, CA 95816

Your search is over! This stunning 2 bedroom, 2 bathroom, 1,040sf East Sac home has unmatched style and features. Step inside to find an open floorplan, gleaming wood floors, plantation shutters, and cozy fireplace. Formal dining room opens to an enviable kitchen with granite counters, tile backsplash, stainless appliances, and roomy breakfast bar. Two spacious bedrooms, and two full bathrooms that have both been tastefully remodeled. You will love the primary bedroom with ensuite bathroom, which is a truly rare find! The backyard is a tranquil, private retreat. Relax under the expansive covered lighted patio and enjoy the delta breeze! Detached garage is a great place to store your toys. Energy efficiency abounds with a tankless water heater and added insulation. Roof is 4 years new. Exterior recently repainted. All this in close proximity to the grid, shopping, restaurants, public transportation, UCDMC, and more! Don't wait! Offered at $499,900. For more photos and a 3D Virtual Tour, visit 3125 Carly Way, Sacramento, CA 95816.

Wednesday, September 2, 2020

Quoted in today's Sacramento Bee in an article about the real estate market...

I was quoted in today's Sacramento Bee in an article by Tony Bizjak about the Sacramento real estate market. The headline of the article is a little funny to me -- as prices increase, so (generally) does home equity. Clearly this is great for homeowners and sellers. Higher home prices - not so great for buyers.

Things are complicated.

As I have mentioned before, we have an imbalance of supply and demand in the market right now. This stems from fewer than normal sellers listing their homes, and a high number of buyers who are highly motivated to purchase homes as we are all spending so much more time at home now.

Sellers who would otherwise list their homes are faced with several challenges that are unique to our COVID19 environment:

  • Some contractors are reluctant to do repairs or remodeling in occupied homes. This makes things a little more difficult to prepare homes for sale.
  • The courts were closed for a prolonged period of time. Courts are now open but caseloads are backed up. Petitioners for probate have had a much longer wait to receive their "orders and letters" needed to appoint a personal representative. Personal representatives, who have authority to act on the estate's behalf, can't prepare or list homes for sale until their authority is ratified by the court. 
  • Estate liquidators have some challenges selling the contents from the homes of those who have died. The traditional estate sale is just not really feasible right now due to social distancing. This affects homes in trusts and in the probate process, and these properties now take longer to clear out.
  • Ever try to clear out a home yourself where someone has passed away? It it emotionally draining and physically difficult! It takes a long time under normal circumstances, and longer when people are reluctant to come to a garage sale.
  • At a time when everyone is supposed to be social distancing, many sellers are not excited to have dozens of people in and out of their homes for showings! Not only can it be overwhelming to sanitize between showings, but many sellers do not want to take the risk of exposure COVID19. While buyers and agents must provide a health declaration swearing they do not have symptoms of COVID19, there may be asymptomatic carriers of the virus who access the property. 
  • Spending so much time at home, where can you go during showings? It is best to leave during showings, and many local businesses are closed. Travel is not as easy as it used to be, so it may not be super convenient to pack up the kids and pets to leave.
  • The kids are going back to school! Seriously, now that so many people are working from home and kids doing distance-learning during the day, who has time to sell the house? And how much more disruptive will a move be?
  • If you have a home to sell in order to purchase your next home, with such low inventory, what will you be able to buy?
  • Some sellers want to wait things out and get past the COVID19 situation to a time where things are more predictable and certain.
These are common things I hear from people thinking about selling. And for some would-be sellers, sometimes these challenges are insurmountable. I thankfully have been able to work with and around most of these scenarios with sellers. I have numerous inspectors and tradespeople I can refer who will work through these conditions. I have a really creative estate liquidator who has pivoted to virtual estate sales and some creative online sales techniques. There are viable alternatives in many cases. But things are slower moving for sure.

With low inventory and LOTS of interested buyers including more than usual bay area transplants, it can be a good time to put your Sacramento home on the market if you have a well-crafted plan and circumstances allow.

Tuesday, September 1, 2020

New listing - 2305 Ashton Drive, Roseville, CA 95747

Stunning 3 bedroom, 2 bathroom, 1,992sf home in highly sought after active adult 55+ Del Webb Roseville community - The Club at West Park! Located on a quiet, interior street, this Sheley floorplan has all the features you want and more. Enter through the oak and crystal front door, and find 10' ceilings and plantation shutters throughout. Elegant tile and laminate flooring. Large, open gourmet kitchen with plenty of storage, stainless steel GE Profile dual oven, microwave, and gas cooktop, granite counters, and lots of bar seating overlooking the great room. Formal dining room and cozy kitchen nook. The master suite features a spacious bathroom with a large walk in closet, separate tub and shower, and double sinks. HUGE finished 3 car tandem garage with epoxy floor, built-in cabinets and overhead storage. The backyard features a stamped concrete patio, fruiting trees, and a 1-year old 40x18' patio cover with electrical outlets, variable speed fan, and dimmable recessed lights. The HOA covers front lawn care, Retreat Clubhouse, pool and more. Don't wait! HOA dues $540/quarter (approximately $180/month). Offered at $549,900. 3D Virtual Walkthrough. For more photos and information please visit 2305 Ashton Drive, Roseville, CA 95747.