Here’s the problem. Proposition 13 protects homeowners from rapidly increasing property taxes. However, seniors worry that they cannot afford a big property tax increase if they sell to downsize or move closer to their families.
As a result of this “moving penalty,” nearly three-quarters of homeowners 55 and older haven’t moved since 2000. The same is true for the severely disabled and those whose homes are destroyed by natural disasters. The current property tax system is arbitrary, unfair and needs to be fixed.
I’m supporting the Property Tax Fairness Initiative to eliminate the moving penalty and fix property tax laws to allow seniors aged 55 and over, the disabled and victims of natural disasters to sell their homes, maintain their property tax protections and continue to pay their fair share in taxes.
When this law is passed, it will eliminate what amounts to a moving penalty that severely restricts the ability of seniors, disabled residents, and victims of natural disasters from being able to relocate due to unfair increases in property taxes.
Switching Gears…How is the market?
Inventory is at an all time low, prices at all time highs. I think there will be a change to this market by the end of the year, or just as soon as interest rates rise .
It was a tough time for property sellers when the market changed in 2007/2008. &there were a lot of ‘I wish I sold when the market was up’ sentiment from sellers.
Now is a good time to sell if you have been wanting to, & only a good time to buy if:
You buy coastal
You plan on living/owning in a home for a long time
You are in a 1031 tax exchange
You are selling & are downsizing/moving to a more desirable area
‘He has been there anytime I needed him and I know if I need him again he would be there too. Brad gave 100% from the first time he called me till the sale was done.’
-Jim V.
‘We really felt like Brad was on our side throughout the transaction and knew how to navigate the process calmly and effectively’
-Curt and Kim C
‘If you are skeptical on a realtor look no further. You will get what you want and when you want it with Brad. His knowledge on this market is second to none. The most unusual thing about this transaction is his exceptional follow up thru out the entire process, and even after we’ve moved in and got settled. He is one of a kind in this market and this profession’
-Scott & Allison T.
‘Thanks to Brad Brinkman and his team we now have a beautiful new home and a great investment into our future.’
-Ryan & Amanda F.
‘He found my house for me when others could not, in a location that I thought would be impossible. His aggressiveness has given me the opportunity to live in a fantastic place.’
-Trace H., Pilot Hawaiian Airlines., U.S. Navy Pilot
‘You made it easy for us to make this move into our new home because you took on all the worries, handling our transaction with skill and expertise. Specifically we were impressed with your approach to business, treating each and every customer as you treated us; as though we were your most important clients’
-Marcie V.
‘He made each transaction very smooth and it was great peace of mind knowing I could count on him.’
-Rebecca W.