Prop. 19 passes, but questions about California property tax measure remain

KASA Real Estate Team California Housing Leave a Comment

Proposition 19, which would expand one California property tax break for older adults and curtail another for transfers of real estate between parents and children, has passed by a narrow margin, but some questions about its implementation remain. Read the full article here: The passage of Prop. 19    

Update on Real Estate Propositions

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Prop. 15 Effort To Revise 1978 Commercial Property Tax Rules Narrowly Defeated California’s Proposition 15, which would allow commercial properties to get taxed at their fair market value rather than the value at the time when they were purchased, was narrowly defeated. Read the full article here: Voters rejected Proposition 15… Proposition 19, which modifies Prop. 13 property-tax breaks, maintaining its …

Fed Pledges Low Rates for Years, and Until Inflation Picks Up

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WASHINGTON — Federal Reserve officials expect to leave interest rates near zero for years — through at least 2023 — as they try to coax the economy back to full strength after the pandemic-induced recession, based on their September policy statement and economic projections released Wednesday. The Fed, in a significant update to its official policy statement, also reinforced its August pledge …

Mortgage rates slide to record-low 2.86% for 30-year loans

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Mortgage rates in the U.S. dropped to another record low, adding fuel to a housing market that’s been a key source of strength for the pandemic economy. The average for a 30-year, fixed loan was 2.86%, down from 2.93% last week and the lowest in almost 50 years of data-keeping by Freddie Mac. It was the ninth time since the …

Wildfires Hasten Another Climate Crisis: Homeowners Who Can’t Get Insurance

KASA Real Estate Team California Homeowners Leave a Comment

Insurers, facing huge losses, have been pulling back from fire-prone areas across California. “The marketplace has largely collapsed,” an advocate for counties in the state said. As wildfires burn homes across California, the state is also grappling with a different kind of climate predicament: How to stop insurers from abandoning fire-prone areas, leaving countless homeowners at risk. Read the full …

S.F. sees ‘unprecedented’ drop in rent prices

KASA Real Estate Team Rent Price , Rental , Renters & Landlords Leave a Comment

But how long will it last? Zumper, the San Francisco–based apartment-rental site, just released its latest rent figures and, according to CEO Anthemos Georgiades, the “price drops are unprecedented” in the seven-plus years the company has published rent reports. “All this talk of people leaving S.F. for a future of remote work is now backed up by hard data.” Read …

Mortgage rates hit another all-time low as home buyers rush to secure cheap financing

KASA Real Estate Team Home Loan , Mortgage Rates Leave a Comment

Mortgage rates have gotten even more affordable — a boon to the many Americans once again considering buying a home as coronavirus-related stay-at-home orders are lifted across the country. The 30-year fixed-rate mortgage dropped to an average of 3.15% during the week ending May 28, a decrease of nine basis points from the previous week, Freddie Mac FMCC, -1.42% reported Thursday. This represents …

California considers sweeping relief for renters, landlords

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In two ambitious proposals to help the state recover from the coronavirus, California senate leaders on Tuesday unveiled bold new plans to provide long-term aid for struggling renters and landlords and create a $25 billion economic recovery fund. The housing proposal would allow landlords to receive tax credits for rent payments missed by their tenants, in exchange for promising to …

Mortgage rates almost drop to another record low — here’s why a housing market slowdown won’t push them lower

KASA Real Estate Team Mortgage Rates Leave a Comment

Mortgage rates remained near another record low for the third straight week. If a new low comes, it may not be because the U.S. housing market is struggling. The 30-year fixed-rate mortgage averaged 3.31% during the week ending April 16, representing a decline of two basis points from a week ago, Freddie Mac FMCC, 5.16% reported Thursday. A year ago, the 30-year fixed-rate mortgage …