Dear CAR Member,
By the end of this decade, “California will be home to 10.8 million people age 60 and over – nearly twice as many as in 2010,” according to the State of California’s recently released Master Plan for Aging. That means starting on April 1, millions of these older homeowners, people with severe disabilities and victims of wildfires or natural disasters can achieve significant property tax savings when moving to a new home, thanks to Proposition 19. This new law allows these homeowners to transfer the taxable value of their primary residence to:
- A replacement primary residence
- Anywhere in the state
- Regardless of the value of the replacement primary residence (with adjustments if “greater” in value)
- Within two years of the sale
- Up to three times (but without limitation for those whose houses were destroyed by fire)
Many of these Californians may not even realize they are eligible for the benefits of Proposition 19, but you can help educate them. C.A.R. has developed a Prop 19 REALTOR® Member Toolkit, a suite of resources to help you spread the word to your clients about the new tax portability rules. These resources are available at prop19.car.org and include FAQs, Fact Sheets, client presentation, marketing materials and more. Check this site frequently as new materials are being added continuously.
REALTORS® have had to shift how they conduct business over the past year and that includes how they will attend Legislative Day this year. C.A.R. is holding its first-ever fully virtual Legislative Day on Tuesday, April 27, a day filled with great information, inspiration and much more.
Legislative Day is an opportunity for REALTORS® from across California to participate in meetings with their state legislators to discuss the issues that affect the real estate industry the most. Attending Legislative Day is not only a great investment in your business, but it will also provide you with an opportunity to hear from the state’s most dynamic political leaders and the leadership of your state association. You’ll even get to enjoy a fabulous, yet fully virtual, reception.
This year we look forward to talks from Toni Atkins, President pro Tempore of the California State Senate, and Assemblymember Blanca Rubio. There will also be valuable legislative and economic updates, informative panel discussions and even some great entertainment. And while we can’t meet in person for our Capitol Reception, we still want to take the opportunity to thank all our members for contributing to the REALTOR® Action Fund! This virtual reception will be open to all members who have contributed $20 or more to the REALTOR® Action Fund. Make sure to join us for incredible networking opportunities and a special word from our state legislators. You can add the Capitol Reception ticket when you register for Legislative Day. Register here for Legislative Day and contribute to attend the Capitol Reception. Please email rafasst@car.org if you have any questions about the Capitol Reception.
As I’m sure you’ve experienced, these days, being up to date on technology isn’t a nice-to-have, it’s a necessity. So we’ve created an exciting, brand-new virtual tech summit, Tech Xperience, to catch you up on the latest tech trends, digital marketing strategies, practical solutions and new innovations. Join us for a jam-packed day on April 14 as tech experts and industry leaders provide you with tech insights and action items you can immediately put to work in your business. This event is exclusively for C.A.R. members and is only $10 to attend. You’ll also have access to watch all session replays post-event. Get your virtual ticket now for the first-ever Tech Xperience at techXperience.car.org.
Lastly, did you know that over half of all renters in California think you need at least a 20 percent down payment to purchase a home, according to the latest C.A.R. consumer survey? The reality is there are programs available that can help them purchase a home with a much lower down payment. C.A.R.’s STEPS Toward Homeownership provides REALTORS® with the necessary information about credit scores, financial planning, leveraging down payment resources and options for low- to moderate-income earners to educate your buyers. And we’re bringing this information to you virtually on April 7, for free! Register here now for the next STEPS to Financing The American Dream virtual event.
Sincerely,
Dave Walsh
C.A.R. President