But smart buyers are looking east. In neighborhoods like Mount Washington, Cypress Park, Highland Park, Eagle Rock, and Montecito Heights—known collectively as Northeast Los Angeles (NELA)—you’ll find a blend of relative affordability, character-filled homes, and vibrant community culture.

Affordability: NELA vs. Westside LA Housing Market

The median home price in Northeast Los Angeles is around $1.2 million, significantly lower than the Westside, where prices regularly soar well above $2 million. In Montecito Heights, homes can be found in the $600,000–$700,000 range, making it one of the most affordable neighborhoods in Los Angeles for buyers seeking more space and charm without the Westside premium.

By contrast, the Westside LA housing market commands a luxury price tag—even smaller single-family homes in Santa Monica or Brentwood can easily exceed $2 million.

Why Buyers Choose Northeast Los Angeles Homes

NELA isn’t just about lower prices—it’s about lifestyle and community. Here’s what you’ll find:

• Highland Park real estate offers historic bungalows and a thriving arts and dining scene along Figueroa Street.
• Eagle Rock homes for sale attract families with strong schools and a creative, laid-back vibe.
• Mount Washington real estate is known for its hillside homes, sweeping views, and quiet streets.
• Cypress Park homes combine affordability with proximity to Downtown LA and public transit.
• Montecito Heights homes provide a peaceful retreat with parks, trails, and the historic Heritage Square Museum.

These neighborhoods attract artists, young professionals, and families looking for a community-focused environment with room to grow—something increasingly hard to find on the Westside.

Lifestyle Tradeoffs: Westside vs. Northeast Los Angeles

The Westside will always have the Pacific Ocean, UCLA, and high-profile prestige. But buyers often face longer commutes, limited inventory, and high entry costs.

By contrast, Northeast Los Angeles real estate offers tree-lined streets, local festivals like Lummis Day, and a strong sense of neighborhood pride. Here, your budget goes further—not only in square footage, but in community value.

The Bottom Line on Affordable Los Angeles Real Estate

If you’re searching for affordable Los Angeles neighborhoods that still deliver culture, convenience, and lifestyle, look east. Northeast Los Angeles homes for sale provide a rare opportunity: authentic communities, historic architecture, and relative affordability compared to the Westside.

NELA isn’t just an “alternative” to expensive areas—it’s one of the best places to buy a home in Los Angeles right now.

👉 Thinking about buying in Eagle Rock, Highland Park, or another Northeast LA neighborhood? Let’s talk about where your budget will stretch the furthest in today’s market.

Susie Delava  Rodeo Realty  213-700-8709

The post Northeast Los Angeles vs. The Westside: Where to Find Value in Today’s LA Housing Market appeared first on Susie Delava Real Estate.

So, what is ZOOM CASA?

ZOOM CASA is a home-selling solution designed for folks who want to move quickly without leaving money on the table. Here’s how it works:

1. You get a cash offer in 15 days—typically 60–70% of your home’s current as-is value.
2. ZOOM CASA handles any needed renovations (yes, even the big ones—and you don’t pay a dime upfront).
3. Once the updates are complete, your home is relisted for top dollar.
4. When the home sells, you get paid the rest of the profit—simple as that.

Why do homeowners love this program?

Because it gives you:

• Fast cash to unlock your equity or pay off your mortgage.
• Freedom to buy your next home without contingencies.
• Access to expert contractors, designers, and project managers.
• The ability to make a bigger profit than a traditional sale might offer.
• Zero stress from showings or open houses.

Who’s this perfect for?

You might consider ZOOM CASA’s CASH OFFER+ program if you:

• Need to sell fast to buy another home.
• Are relocating, facing financial hardship, or pre-foreclosure.
• Have an investor property with a loan coming due.
• Own a home that could use a little TLC—or maybe a lot.
• Are dealing with an outdated property, hoarder situation, or unfinished work.

Why I recommend it

As a real estate agent, I know that every seller has different needs—and there’s no one-size-fits-all solution. My job is to be resourceful, offer options that fit your goals, and make the selling process as smooth as possible. ZOOM CASA is one of the tools I trust to help certain sellers move forward quickly, confidently, and profitably.

Bottom line?

ZOOM CASA gives you a chance to sell quickly and still maximize your return. You get the benefit of a cash offer and the upside of a renovated resale—without the headaches.

If you’re curious whether this might be a good fit for your situation, I’d be happy to walk you through the process. Let’s connect!

Susie Delava  Rodeo Realty  213-700-8709

The post Sell Smarter, Not Harder: How ZOOM CASA Can Help You Get More for Your Home appeared first on Susie Delava Real Estate.

In the wake of this tragedy, I’m here to offer a sense of clarity. No matter what route you decide to take, know that you’re not alone in this process.

The Heavy Emotional and Financial Toll of the Fire

Losing a home is like losing a piece of yourself. Our homes are where we build our memories, and they hold so much meaning beyond their walls. For many, the thought of rebuilding offers a sense of hope, a way to return to what was once familiar. For others, the thought of facing the unknown—financially and emotionally—can feel overwhelming.

• Emotional Considerations: It’s okay if you’re feeling conflicted. The decision to rebuild or move on isn’t just a financial one; it’s an emotional journey. Take some time to reflect on what would bring you peace. Are you ready to invest in rebuilding your life in the same place, or would a fresh start somewhere else bring you the closure you need?
• Financial Impact: I know many of you are facing the reality of insurance claims, and I want to emphasize how important it is to fully understand your coverage. Sometimes, insurance payouts won’t fully cover the cost of rebuilding, which can add a layer of stress. But no matter where you are financially, there are options available to you, and I’m here to help you navigate them.

Option 1 – Rebuilding Your Home: Finding the Strength to Start Again

For some, rebuilding feels like the best way to return to normalcy. It’s a chance to rebuild not just the physical structure but to put a piece of your heart back in place.

• Insurance Coverage: It’s essential to understand what your insurance policy covers. If you have “replacement cost” coverage, you may be able to rebuild your home to its previous condition without worrying about depreciation. But if you only have “actual cash value,” it might not be enough to cover the full cost of rebuilding. That’s something to consider when planning your next steps.
• Building Codes and New Regulations: After a devastating fire like this, building codes may change, and the process of rebuilding could come with new regulations. This might make the rebuild more costly or complicated, but there’s also an opportunity here to update your home with fire-resistant materials and design improvements that could increase its safety and value.
• Financing the Rebuild: Many homeowners will need additional financing to cover the full cost of rebuilding, even with insurance. Before you move forward, take time to consider whether you’re financially prepared for this journey.

Pros of Rebuilding:

• The chance to create a brand-new space for your family
• Potentially modernizing your home with new features and designs
• Staying within the community and neighborhood you love

Cons of Rebuilding:

• The emotional and financial strain of a long rebuilding process
• Uncertainty about whether the investment will fully pay off
• Rebuilding could take time—possibly longer than you expected

Option 2 – Selling Your Lot and Starting Fresh

I know for many, the idea of starting over might seem like the only way to regain control. After such a loss, it’s important to consider that selling your lot could bring you financial relief and a fresh start.

• Insurance Payouts and Market Value: After a fire, your lot might actually be worth more than it was before. If your insurance policy offers a decent payout, selling your lot could give you the funds you need to purchase a new home elsewhere or even move to a completely different community. The market value of your lot may have increased, depending on demand, especially if your area is undergoing revitalization.
• Selling to Developers or Investors: If you decide to sell, you have options. You can choose to sell to a developer who might be interested in rebuilding the area, or you could consider selling to real estate investors who focus on buying land. Some homeowners also sell directly to their insurance companies—though that can be a bit more complicated.
• Selling to an Owner/User: As you know, building space has been quite limited in Los Angeles, and there are plenty of people who have been dreaming of of designing and building a home of their own. You can put your lot for sale with a Realtor to help find the perfect owner/user.
• A Clean Slate: Selling might be an opportunity to let go of a place that has been through so much. Sometimes, the thought of rebuilding isn’t just about bricks and mortar; it’s about moving forward and finding peace somewhere new.

Pros of Selling:

• Financial freedom and a fresh start, without the burden of rebuilding
• The ability to choose a new location that suits your needs and desires
• A quick, clean resolution to a difficult chapter

Cons of Selling:

• Letting go of a place filled with memories and sentimental value
• Might not bring the same sense of closure as rebuilding
• Emotional loss of not being able to restore what was once yours

What to Think About When Making This Big Decision

This isn’t a decision that can be made lightly. It’s a blend of financial, emotional, and practical considerations. Here are a few things to keep in mind:

• Financial Health: Take a close look at your finances. Do you have enough to rebuild, or would it be more practical to sell and start fresh? The balance of your insurance payout and any potential out-of-pocket expenses will play a big role in your decision.
• Emotional Impact: The grief of losing your home is real, and healing takes time. Can you envision yourself rebuilding the life you once had, or is it time for a fresh chapter somewhere new?
• The Market and Safety: Will the area be rebuilt in a way that makes you feel safe in the long run? What are the prospects of the area recovering, and is it a place where you’d want to raise a family again?

Taking the First Step Forward

I know it’s hard to think ahead when the present feels so uncertain. Whether you’re leaning toward rebuilding or selling your lot, take things one step at a time, and know that you have support. My goal is to be a resource for you, whether you’re looking for help understanding your insurance options, navigating the real estate market, or just need someone to talk through the decisions you’re facing.

You’re not alone. And when you’re ready, I’ll be here to help you find your way forward—whatever that may look like.  

Susie Delava  Rodeo Realty  213-700-8709

The post Rebuilding or Cutting Losses: Navigating the Tough Decision After the Fire appeared first on Susie Delava Real Estate.

It’s like waiting for the stars to align—sometimes they do, but most of the time, they don’t. Life doesn’t wait for the market to settle, and neither should you. The reality is that the best time to buy or sell is when it works for you, not when you think it’s “perfect” according to market trends. Let’s dive into why waiting for that perfect moment could actually be holding you back.

The “Perfect Time” Is Different for Everyone 

Here’s the truth: the perfect time to buy or sell is personal. It’s not about what the market’s doing—it’s about your goals and your life. Maybe you’re ready to downsize, upsize, or relocate. Maybe you’re starting a new job, or your family is growing. Your life is constantly evolving, and your home should evolve with it. Trying to time the market around trends or speculation can be exhausting and leave you second-guessing every decision.

If you’re a buyer, maybe you’re thinking, “I’ll wait for interest rates to drop more.” But while you’re waiting, prices might continue to rise. Or maybe you’re a seller, sitting on a house you’ve outgrown, thinking, “I’ll sell when the market peaks,” but that might never happen. The truth is, waiting might cost you more than acting now.

Take, for example, a young couple excited about buying their first home. They found a charming starter home that ticked all their boxes—great location, within budget, and close to family. But they hesitated, thinking they could snag an even better deal if rates dropped just a little further. Six months later, interest rates had indeed dipped slightly, but the housing market had also heated up. The price of their dream home increased significantly, and by the time they were ready to act, they were outbid by another buyer. Their hesitation cost them time, money, and the home they loved.

If you’re ready to buy, ask yourself: Does this home fit my life right now? Am I financially ready? If the answer is yes, then it might just be the perfect time for you, no matter what the market’s doing. And for sellers—are you ready to move on to the next chapter? Do you want to downsize or relocate? If the answer is yes, then it’s time to make a move, market conditions be damned.

Timing the Market is Like Chasing a Unicorn 

Real estate is always changing, which makes it easy to think there’s a “best” moment. But market trends aren’t as predictable as we’d like them to be. Prices rise and fall, interest rates fluctuate, and inventory changes every season. Trying to time that? It’s a gamble. It’s like chasing after a unicorn—you might find it, but the chances of it happening just how you expect are slim to none.

If you’re a buyer, waiting for the perfect moment might mean missing out on your dream home because someone else decided to act sooner. And if you’re a seller, waiting for the market to hit the exact peak might leave you stuck with a home that’s harder to sell.

Consider a retired couple who wanted to downsize but decided to wait until the market hit its “peak” before selling their four-bedroom family home. When the market was hot, their real estate agent advised them that it was an excellent time to list. But they held out, hoping for an even better deal. A few months later, the market cooled. Buyers were more cautious, and interest rates rose, leading to a slowdown in demand. Their home eventually sold, but it sat on the market for much longer than they expected, and they had to accept an offer far below what they could have received earlier. Their decision to wait cost them both financially and emotionally as they delayed moving on to the simpler lifestyle they’d been dreaming of.

The market will never be “perfect,” but your goals? Those are what matter most. Instead of stressing over market conditions, focus on you. What’s your timeline? What are your goals? What does your future look like? If you have clarity on those questions, then you’re ready to make the right move, no matter what the market’s doing.

Long-Term Thinking Outweighs Short-Term Market Moves 

Here’s the thing: real estate is a long-term game. If you’re buying a home to live in for a few years, a short-term market fluctuation likely won’t matter in the grand scheme of things. Home values tend to increase over time, especially in desirable locations like Los Angeles. So, if you’re planning to stick around for a while, a little market dip or rise won’t have the lasting impact you might think.

For sellers, the same principle applies. If you’ve owned your home for a while and have built up equity, you’re likely in a good position to sell, no matter what the market is doing. Trying to time the peak of the market might seem like a good idea, but it can also mean missing out on the right opportunity for you. The right time to sell is when you’re ready to move on—whether that’s now or in a few months.

The “Perfect Moment” Might Be Costing You More Than You Think 

Here’s a tough pill to swallow: waiting for the perfect moment to buy or sell could actually be costing you more than just time. For buyers, waiting for a better deal might mean higher prices down the road, or even missing out on a home you love because someone else moved quicker. For sellers, the longer you wait to sell, the more you risk maintenance costs, rising property taxes, and just the stress of keeping a home that no longer fits your needs.

Waiting for the market to shift in your favor is a gamble. Sometimes it works, but often, it doesn’t. Instead of focusing on the perfect timing, focus on your needs and goals. Once you’re clear on those, it’s easier to make an informed decision and act.

So, When is the Right Time?

The right time to buy or sell is not when the market “says” it’s right—it’s when you say it’s right. It’s when you feel ready, when your goals are in alignment with your decisions, and when your life is moving in the direction that makes a change in your housing situation necessary.

I know it can be tempting to wait for the perfect market conditions, but in reality, they don’t exist. Your next chapter is ready for you now, so why wait for the market to tell you when it’s time?

You’ve got this. And if you’re ready to make a move—whether you’re buying, selling, or just exploring your options—I’m here to help you navigate the process. Together, we’ll figure out what’s right for you.

Ready to talk about your next move? Let’s make it happen. No market timing stress, just a solid plan for what comes next.

The post The Best Time to Buy & Sell. Hint: It’s Not What You Think appeared first on Susie Delava Real Estate.

I know, “equity” doesn’t exactly scream excitement (unless you’re a real estate nerd like me), but hear me out—it’s basically your golden ticket to freedom, adventure, and countless next chapters.

Empty Nesters: Your Kids Are Gone, But Your Adventure is Just Starting

So, the kids are out of the house, and suddenly you have more space than you know what to do with. (Seriously, who needs three guest bedrooms?) Instead of filling those rooms with dusty exercise equipment, why not think about downsizing or moving to a place that feels more “you”?

That equity you’ve been quietly building? It’s your chance to trade in the oversized family home for something cozier, more vibrant, or maybe even oceanside. Think about it—less cleaning, fewer bills, and way more time for road trips, or wine nights with your new neighbors who actually like to talk about books. Your next chapter is calling, and it sounds fabulous.

Divorce: A Plot Twist, Not the End

Let’s be real: divorce is tough. It’s like the universe handing you a glitter bomb of emotions—and not the fun kind. But here’s the thing: it’s also a chance to rebuild, reimagine, and maybe even rediscover the real you (you know, the one who doesn’t have to compromise on throw pillows).

Your home’s equity is like that friend who shows up with wine and a pep talk when life gets rough. It can help you find a new space that feels like a fresh start, whether it’s a cozy cottage in a cute neighborhood or a modern loft with great brunch spots nearby. You’ve got this. And your equity? It’s got your back.

Loss of a Spouse: Honoring the Past, Embracing the Future

First, let’s pause and take a deep breath—losing someone you love is unimaginable. But when you’re ready, your home’s equity can help you navigate this tender, complicated chapter. Maybe it’s time to downsize to a place that’s easier to manage or move somewhere that feels like a peaceful new beginning.

Think of your equity as a quiet guide, offering you options. Travel? A creative hobby you’ve always wanted to try? A simpler life that feels aligned with who you are now? You’re not rushing through grief; you’re creating a space where healing and growth can bloom.

Career Change: Because Playing It Safe is Overrated

So, you’re thinking about a career change. Brave, bold, and a little terrifying, right? Whether you’re chasing a passion project or just done with your 9-to-5 grind, this is your moment. But dreams come with price tags, and that’s where your home’s equity swoops in to save the day.

Need to take a sabbatical to retrain? Or maybe relocate to a city that’s brimming with opportunities (and better coffee)? Use that equity! It’s like your financial trampoline, letting you bounce toward your goals without falling flat.

Equity: Your Secret Weapon for Big Life Moves

Here’s the thing about equity—it’s not just numbers on a spreadsheet. It’s the culmination of years of hard work, smart decisions, and maybe even a little luck. It’s your freedom fund, your ticket to reinvention, your way to say, “I’ve got this.”

Life’s transitions don’t have to be scary. They can be liberating, inspiring, and just a little wild. And I’m here to help you figure it all out—with humor, heart, and maybe a cup of strong coffee (or a margarita, if that’s more your vibe).

Ready to chat about your big, beautiful future? Let’s make it happen.

The post Embrace Change with the Power of Equity appeared first on Susie Delava Real Estate.

Importance of Buyer Broker Agreements

One of the most significant updates revolves around the Buyer Broker Agreement (BRA). This agreement is designed to formalize the relationship between you—the buyer—and your real estate agent. BRAs have always existed, but they were not required by law and most buyers preferred a more casual relationship with their agents. Thanks to the new settlement, all terms must be established and contract signed prior to a buyer being able to tour any properties, including open houses. Here is how the new BRA works:

Ensuring Dedicated Representation

• What It Does: A Buyer Broker Agreement outlines the terms of your agent’s representation, including their responsibilities, the duration of your agreement, and how they’ll be compensated.
• Why It’s Important: By signing a BRA, you’re ensuring that your agent is committed to working exclusively on your behalf. It clarifies the relationship, establishing clearly what is expected from the agent, and what is expected of the buyer.

Access to Property Showings

• New Requirement: Under the updated guidelines, many listing agents and sellers now require prospective buyers to have a signed BRA before scheduling property showings, which includes open houses.
• Why It’s Required: This requirement helps ensure that buyers are serious about working with an agent and are committed to the home-buying process. It also protects the interests of sellers by ensuring that only qualified and motivated buyers are viewing their properties.

Fairness and Transparency

• Legal and Ethical Standards: The shift towards requiring a BRA reflects broader efforts within the real estate industry to uphold legal and ethical standards.
• Consumer Protection: It’s all about protecting you, the buyer, by clearly defining the terms of your agent’s representation and ensuring transparency throughout the transaction.

Your Next Steps

If you’re ready to start your home-buying journey, reach out to me today so I can guide you through the new process. Just remember that these changes are designed to empower you as a buyer and ensure a smooth, transparent, and fair real estate experience. By understanding and embracing the Buyer Broker Agreement, you’re taking an important step towards securing your future home, and I would be honored to be real estate professional you choose.

The post Changes in Real Estate: Why You Need a Buyer Broker Agreement appeared first on Susie Delava Real Estate.

What is a Reverse Mortgage? 

A reverse mortgage is a financial product available to homeowners aged 62 and older, allowing them to convert a portion of their home  equity into loan proceeds. Unlike traditional mortgages, with a reverse  mortgage the homeowner receives payments from the lender,  essentially borrowing against the value of their home. It’s important to  know that this financial option is only applicable to a primary  residence, and the loan becomes due when the house is no longer  occupied by the borrower. 

How Does a Reverse Mortgage Work? 

1. Eligibility: to qualify for reverse mortgage, you must be at least 62  years old, and have sufficient home equity. 

2. Loan types: There are three main types of reverse mortgages:

• Single Purpose Reverse Mortgage: offered by government  agencies or nonprofit organizations for specific purposes like  home repairs. 
• Home Equity Conversion Mortgages (HECM): Insured by the  federal housing administration, and the most common type,  providing more flexibility in how funds are used. 
• Proprietary Reverse Mortgages: private loans backed by the  companies themselves, usually for higher value homes.

3. Loan Disbursement: Reverse mortgage funds can be received in  several ways: 

• Lump Sum: a one time payment 
• Monthly Payments: regular monthly payments 
• Line of Credit: Funds available for withdrawal as needed
• Combination: A mix of the above options

Benefits of Reverse Mortgages: 

1. Supplemental Income: reverse mortgages, provide a reliable  source of income, helping cover, Olivia, expensive, healthcare, costs,  or home improvements. 

2. No Monthly Repayments: borrowers are not required to make  monthly repayment during the loan., Reducing financial strain.

3. Homeownership Retention: Retain ownership in residency of  your home as long as you meet, loan obligations, ensuring is care  living situation. 

4. Flexibility: Choose how you receive funds based on your financial  needs and preferences. 

Important Considerations: 

1. Loan Costs and Fees: Be aware of closing costs, interest rates,  and other fees associated with reverse mortgages. 

2. Impact on Heirs: understand how reverse mortgage may affect  your heirs’ inheritance and discuss it openly with them

3. Loan repayment: The loan must be repaid when the borrower  passes away, sells the home, or permanently moves out. 

As you can see, reverse mortgages can offer financial relief and  stability to seniors during their retirement years. However, it’s  essential to thoroughly research and consult with a financial advisor  to determine if a reverse mortgage is the right choice for your  individual circumstances. Stay informed, consider your options, and  make empowered decisions for a secure and comfortable retirement.

The post Demystifying Reverse Mortgages: A Comprehensive Guide appeared first on Susie Delava Real Estate.

1. Dream Weavers 

At its core, our job is about weaving dreams into reality. When you approach us,  you bring a vision of your dream home. We’re here to turn that dream into a  reality, matching your desires with the perfect properties, whether you are  seeking a cozy cottage, a modern city loft, or anything between, we look  tirelessly to make your dreams come true. 

2. Market Analysts 

Understanding the real estate market is no easy task. With the expert to stay up to-date with local market, trends, property, values, and economic factors that  impact housing prices. Our job is to analyze data and provide you with valuable  insights, empower you to make informed decisions about your investments.  Think of us as your financial advisors in the world of real estate. 

3. Negotiators extraordinaire 

Negotiation is a cornerstone of our profession. We negotiate on your behalf to  secure the best deals possible. From haggling over prices to navigating  contingencies and closing costs, we are the artists of compromise. Our ability to  find common ground ensures that your interests are protected and your  objectives met. 

4. Legal Jugglers 

Navigating the legal landscape of real estate transactions is a complex dance.  We ensure all contracts and paperwork adhere to local, state, and federal laws.  Working closely with attorneys, inspectors and other professionals, we make  sure your transaction proceeds smoothly and legally. Consider us your legal  guardians throughout the process. 

5. Your counselors. 

Buying or selling a home can be an emotional roller coaster. We’re here as your  trusted confidants, providing support and guidance throughout the journey. We  offer reassurance when deals fall through and celebrate with you when you find  your dream home, or sell your home. Our role extends beyond business; we’re  here to provide a shoulder to lean on. 

6. Masterful marketers. 

In the digital age, marketing is paramount. We are marketing experts, dedicated  to showcasing properties in the best possible light. From professional 

photography and virtual tours to cutting edge social media campaigns, we create  the buzz that surrounds your property, attracting buyers and sellers alike. 

7. Fiduciary duty. 

One crucial aspect of the real estate agents role is our fiduciary duty. When  representing clients, we have a legal and ethical obligation to act in their best  interest. This duty extends to both buyers and sellers, and it means that each  party has their own dedicated agent. For sellers, we work tirelessly to get them  the best possible price for their property. We handle negotiations, marketing, and  all the intricacies of selling a home while ensuring our seller’s interests are  protected. For buyers, we are their advocates in the home-buying process. We  search for properties that align with their criteria, negotiate on their behalf, and  guide them through every step of the purchase process, all while safeguarding  their interests. 

In conclusion 

Real estate agents are not just salespeople; we are the architects of dreams, the  guardians of legality, and the guides to the complex world of real estate. Our work touches, lives in profound ways, helping people find not just houses, but  homes. We’re the unsung heroes of one of life’s most significant journeys, finding  a place to call home. 

The post Unlocking the Magic of Real Estate: What Does a Real Estate Agent Do? appeared first on Susie Delava Real Estate.

So, what’s the scoop? Well, the heart of the More Homes on the Market Act is a  makeover for the tax code. It’s all about giving homeowners a bit more wiggle  room when they decide to sell their homes. Right now, there’s this thing called  the capital gains tax exemption. Basically, it let you exclude a chunk of change – up to $250,000 for singles and $500,000 for couples – from the profit you make  when selling your home. 

But here’s the kicker – these numbers were set way back in 1997 and haven’t  budged an inch for inflation. You can imagine how that’s like using an old-school  calculator in a world of smart phones. That’s where this Act moves in, aiming to  crank up those numbers. If it gets the greenlight, singles could exclude up to  $500K and couples could go up to a cool million. Yep, you read that right – double the exemption. 

Why does this matter? Well, let’s say you’ve been looking to downsize. You want  to sell and pocket some cash for your next adventure. But the thought of taxes  raining on your parade is a major buzzkill. The More Homes on the Market Act  wants to help out by making sure you keep most of that hard-earned money  when you sell. It’s not just about you – it’s about boosting the housing market,  making things more affordable, and giving families a shot at their dream home. 

And there’s more to the story. The president of the National Association of  realtors, Kenny Parcell, points out that failing to adjust these numbers for inflation  has caused fewer older homeowners to hit the ‘for sale’ button. That’s led to a  real estate traffic jam, leaving younger buyers with fewer options and bigger price  tags. 

So, the act isn’t just getting nods from homeowners – even the California  association of realtors is giving it a thumbs up. They’re giving a big shout out to  Representative Panetta for bringing this bill to the table. They see it as a way to  lighten the tax load for homeowners, especially those golden oldies have been  held back by those pesky tax burdens. 

In a nutshell, the More Homes on the Market Act is like a fresh breeze blowing  through the real estate scene. It’s all about leveling the playing field, giving  homeowners more choices, and making homes more affordable for everyone. If it  gets the green-light, get ready for a housing market, that’s friendlier, fairer, and  more inviting for all.

The post Opening Doors to Housing Equity: The More Homes On The Market Act appeared first on Susie Delava Real Estate.

First up, we’ve got property taxes. Property taxes are the lifeblood of local  governments, funding stuff like schools and keeping our neighborhood safe. In  California there’s this thing called Proposition 13, which puts a cap on how much  property taxes can go up each year – a max of 2%. Sounds pretty stable, right?  But here’s the kicker: if the ownership of a property changes hands, you might  face a reassessment that could hike up your taxes. 

Now let’s talk about something that could put a smile on your face – the  homeowners exemption. It’s like a little gift from California that reduces the  assessed value of your main residence. And yeah, you’d want that because it  means lower property tax bills. Just make sure you apply for it with your county  assessor’s office. 

Fast-forward to 2020, and we’ve got Proposition 19 stepping onto the scene. This  game-changer lets folks over 55, those with disabilities, or wildfire victims switch  the property tax base to a new pad anywhere in the state. But there’s a trade-off– transferring property to your children could come with a reassessment, unless it’s  under certain circumstances. 

Let’s talk money savings now. If you are carrying a mortgage, the mortgage  interest deduction is your ticket to lower taxes. Basically you can deduct the  interest that you pay on loans up to $750,000 – and trust me, that could seriously  add up, especially if your mortgage is on the heftier side. 

But wait, there’s more. If you are a fan of the federal state and local tax (SALT)  deduction, you’ll want to pay attention. Recent changes capped this deduction at  10,000 bucks, affecting states like California, where taxes tend to be higher. 

Selling your place? Say hello to the capital gains tax. It’s like a fee you pay on  the profit you make from the sale. But here’s the silver lining – if it’s your main  residence and you’ve been there for a good chunk of the last five years, you can  exclude up to $250,000 (or $500,000 for couples) from this tax. 

Now, if you’re into accessory dwelling units (ADUs) like those nifty backyard  cottages – here’s the scoop: building one not only helps with housing shortages,  but it could also score you some sweet tax benefits, like deducting mortgage,  interest and property taxes.

But there’s also a bright green twist to the tax situation. California is all about  energy efficiency, so if you are into solar panels and other eco-friendly upgrades,  you could snag some cool incentives. It’s like saving the planet while saving  some cash. 

Lastly, with wildfires on the rise, California’s got your back. They’ve introduced a plan that lets homeowners affected by wildfires defer their property taxes. It’s a  small relief during tough times. 

So, there you have it – a crash course in the California tax maze for  homeowners. Remember, being in the know and getting some extra advice is key. Whether it’s seeking out a financial guru, teaming up with a legal pro, or  chatting with a savvy real estate whiz, you’ll be armed with the info you need to  make the most of your California home sweet home

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