Monday, July 30, 2018 / by Abio Properties, Blogger
Prop. 5: Boon for baby boomers and cure for the housing shortage?
Proposition 5, a measure developed by the California Association of Realtors, is headed to the ballot Nov. 6, and advocates say it could ease not only the property tax burden on seniors, but also relieve the state’s housing crunch.
Here’s what you need to know before you vote on Prop. 5, also known as the Property Tax Transfer Initiative:
What is Prop. 5?
Prop. 5 would expand Prop. 13 to allow homebuyers who are 55 or older or severely disabled to transfer their property tax base to a replacement residence in California for any price and as many times as they want. Prop. 5 also would apply to disaster victims like those affected by the recent wildfires.
How would it work?
Let’s say you bought a home in 1988 for $300,000, sold it in 2020 for $700,000, and bought another home for $500,000 that same year. You’d keep the tax rate you had on the 1988 home.
What does ...
Wednesday, May 16, 2018 / by Abio Properties, Blogger
The generation mocked for spending too much cash on avocado toast and $4 lattes is now the largest prospective home buying generation of our time. And these millennials are hungry for some East Bay real estate.
If you want to sell your house in Oakland, Walnut Creek, or elsewhere, you should know what your prospective buyer wants.
Let’s start by defining the generation. Millennials are 20 to 36 years old, with peak births in 1990. That means a surge of millennials will turn 30 soon – and 30(ish) is the national average age of first-time homebuyers.
You’ve probably heard about how poorly millennials are faring in today’s housing market. The number of hopeful buyers far outnumbers the meager number of homes for sale, and the winners are bidding way over the list prices.
Realtor.com recently identified San Jose – where the median list price is $1.24 million, gu ...
Thursday, December 21, 2017 / by Abio Properties, Blogger
You know how you’re supposed to wait until spring to list your home for sale?
Well, forget everything you think you know.
According to conventional real estate wisdom, homebuyers hibernate in the winter and spring back to life in March, April and May. But here in the Bay Area market, nothing is conventional.
This is a region where housing inventory hit stubborn lows in 2017. Fewer homes went on the market, and they were snatched up in record time. That means a plethora of potential buyers are still looking, regardless of the cool weather outside.
“There is still a frenzy of buyers out there,” said Abio Properties co-founding partner Linnette Edwards. “Normally I tell people to wait and prep their home for a February or March listing date. But for those sellers who want to go on the market sooner, I’m telling them to go for it.”
As of November, active listings sank 17 percent year-over-year across ...
Wednesday, May 03, 2017 / by Abio Properties, Blogger
Springtime is for selling — and for cleaning. If you want to sell your property during this strong real estate season, you need to roll up your sleeves and slide on some gloves.
But after vacuuming, dusting and getting that toilet bowl sparkling, don’t be fooled into thinking your home is ready for the market. You probably missed a spot – or a dozen.
Sure, you de-cluttered your counters, mopped floors and chipped burnt gunk off your stove. But, trust us, the place still isn’t ready to sell your property.
“Our philosophy is you have one chance when you hit the market, so you need to be as clean and pristine as possible,” says longtime Realtor Mary Anne LaHaye, Abio’s Lafayette office team leader in Contra Costa County.
Consult this checklist from Abio agents before you plant the “For Sale” sign. Happy wiping, dusting, washing and polishing!
Clean windows, screens and sills. Mary Anne says windows a ...