Housing-Related Measures on November 2018 Ballot

sebfreyCommentary

The Incredible Shrinking Housing Market

This year there are a number of very important measures that will appear on our November 2019 ballot. Today I want to talk about three that will affect California housing: Proposition 1, Proposition 5, and Proposition 10.   Proposition 1 This initiative seeks to raise $4 billion to pay for affordable housing throughout the State of California, with most of the money going to our veterans. While I know that you may not be in favor of raising taxes, I do think that we need to start solving the problem of the lack of affordable housing. This is not going to be a cure-all, but I do think it is a step in the right direction, which is why I encourage you to vote YES. Proposition 5 This proposition is sponsored by the California Association of Realtors and is about property tax portability. If it passes, it will allow California homeowners who are 55 or older to sell their home and buy another in a different California county and transfer their property tax basis. Many unions such as teachers, firefighters, and police, say this is a bad idea because it may result in a drop in revenue that will hurt their agencies. However, the California Association of Realtors believes that it will be revenue neutral and I think that it will greatly increase the supply of housing by allowing seniors to leave their larger homes for smaller ones with a lower cost. This is why I encourage you to vote YES to Proposition 5. Proposition 10 … Read More

Santa Cruz Real Estate – Let’s Talk Politics!

Seb FreySanta Cruz Real Estate

Change is in the air – of course, it might all just get blown away and we’ll be back to the same-ol’, same-ol’ we’ve come to know and love for generations. vote_button.gif I got a nice e-mail from my friends at the California Association of Realtors today. … Here is what they have to say: AB 2678 will require a state agency to set up a process to require point-of-sale energy efficiency audits that will cost up to $400 and ultimately will require point-of-sale energy efficiency retrofits that may cost THOUSANDS of dollars. … It seems that Proposition 98 has a sneaky back-door to abolish rent control: The provisions of this Act shall become effective on the day following the election (“effective date”); except that any statute, charter provision, ordinance, or regulation by a public agency enacted prior to January 1,2007, that limits the price a rental property owner may charge a tenant to occupy a residential rental unit (“unit”) or mobile home space (“space”) may remain in effect as to such unit or space after the effective date for so long as, but only so long as, at least one of the tenants of such unit or space as of the effective date (“qualified tenant”) continues to live in such unit or space as his or her principal place of residence. … I’m conflicted about rent control, personally – in an ideal world, it wouldn’t be necessary or desirable, but the fact is, this world is far from idea, and rent control does have its place – this is much better left up to individual localities, I think, rather than having some kind of sneaky tactics to get the voters to approve getting rid of rent control this way.