ADVERTISING SUPPLEMENT Homes for Sale Needed Statewide! Proposition 19 Property Tax Savings Coming April1 Thanks to Proposition 19 which goes into effect on April 1 - homeowners who are age 55 or older, owners with severe disabilities, or any owners who have been victims of wildfire or natural disaster, can move closer to family, medical care, or a home that better meets their needs anywhere in California without a tax penalty. Soutiand Regional Association of Reators By Dane Syde, Presidert, and David Waket Strong homebuying interest continued during February to support the market as monthly sales throughout California recorded the eighth straight year-over-year gain. SOUTHLAND REGIONAL AssoCIATION OF REALTORS", INc. ownership opportunities likely will open up each year for renters, young families and first-time homebuyers in communities throughout the state. For details on this new opportunity, go online to www.caprop19.org, a website designed by the California Association of Realtors to answer all Prop. 19 questions. February sales were up 9.7 per- nt compared to a year ago, the California Association of Bay Area off 29.2 percent, had rela- tively smaller declines in their regional housing supply, but their inventory levels remained significantly below last year's level. "The upward movement in rates has called into question whether the mar- ket will sustain its momentum going into the spring homebuying season, ary 2020 to $699,000 this year. The double-digit increase was the seventh in a row and the second largest since February 2014. Orber key points from CAR.I Febru- ary 2021 resale bousing report inchuded: * At the regional level, all major regions, except for the Central Valley, experienced a surge in sales from a year TAX SAVINOS FOR OLDER HOMEOWNERS Realtors reported said C.A.R. Vice President and Chief Thenia e Preo eorem, end el hemoren ged - can move coser to nty, macical ca ortoahome e end any n Cat ago, Tuesday, "The housing The market will soften in the The me- dian number of days it Pep dter eta p te hemes eebee ofmer enet market has been cruising at a 2021 SRAR President robust pace since second half of 2021 if we don't see took to sel a Califormia enough homes ... to meet demand' single-family Realtor Diane Sydel, the second half of 2020, but it has encountered some speed bumps recently as rates began to rise," said C.A.R. President Dave home was 10 Economist Jordan Levine. "While rates are off their record kows, they are still relatively kow by historical standards,"he said. "Recent increases in mortgage rates will likely slow the pace of price growth in the coming months buit will also motivate those who truly want to buy to enter the market before rates start moving days in February, down from 23 days in February 2020. The 30-year, fixed-mortgage interest rate averaged 2.81 percent in February, down from 3.47 percent in February 2020, acoonding to Freddie Mac. The five-year, adjustable mort- gage interest rate was an average of 2.83 percent, compared to 3.26 percent in February 2020. SAVINGS rOR HOMEOWNERS WITH SEVERE Walsh. DISAITES Slightly higher interest rates seen over the last several weeks may tem- porarily slow the growth of sales, but Walsh said the "major roadblock in the long run is a shortage of homes for sale. With inventory dropping more Pooo rovetuntar ene en Catone wn ee db, oing honeorenmow reteceme ome anytesn Cetria Under Pop hameonan wnve dubite an ate the la o er g one ene than a half from a year ago, Walsh said, further up." "the market will soften in the second half of 2021 if we don't see enough homes come on the market to meet Low rates, robust demand and a shortage of homes for sale continued to push up home prices on a year-over- year basis, gaining 20.6 percent from the $579,770 recorded in Febru- The Southland Regional Association of Real tors is a local trade association with more HOUSINO RELIEF FOR than 10,300 members serving the San Fer nando and Santa Clarita Valleys. SRAR is one of the largest local associations in the nation. VICTIMS OF WILDFE AND demand." NATURAL DISASTER The available supply of homes for sale continued to tíghten up across the state, with all major regions at record low levels not seen in the past 10 years. Three of the five regions, in fact, declined 55 percent or more in active Ater widtres oyed more han 24000 lany home nnete ye tete nsheve tet as prperty len e when ng te te Home Ownership-Key land Regional Association of Realtors served as the official inquisitor. When it comes to the state's budget, Gabriel said "the good news is that we're in a better place than any of us could have hoped.. Help from the federal level will aid local jurisdictions. "Housing is key to buikling wealth," he said, "We necd more aereprpeny eete damged hee lecent heme nyhein Caitoria to Building Wealth Taming COVID-19 and spur- ring economic recovery are at the top of Assemblymember Jesse Gabriel's list of imperatives, but housing, which was in crisis long before the pandemic hit, is equally important. The Woodland Hills Democrat, who is also majority whip, was the guest speaker in a listings from last year. The Central Coast region had the biggest year-over-year drop of 55.6 per- cent in February, folowed by Southern California, down 55.4 percent, and the Central Valley, down 55.0 percent. The Far North, which was down 46.3 percent, and the San Francisco INCHLASID INVENTORY FOR YOUNG FAMILIES E FIRST-TIME BUYERS housing, particularly affordable housing To do that Gabriel M fede omne fe eomes onger meet their nc-hey wttomovetorio nge ene commt, e water ham Pep t ty hopes to eliminate inef- ficiencies. He is a propo- nent of using tax credits to buikd affordable A mo eno sovertage of rap hing er tutew enh e Interest Rate Update ng tenes, emete nite thoughat Cafee National average as reported by Freddie Mac on: March 11 30-Yr FRM - 3.05% 15-Yr FRM - 2.38% March 4 housing. Yet he stressed that preserving 35,000 recent statewide Zoom ksnlynenter lese Catrie D-oodand cústing affordable units that are threatened call organized by the Califomia Association of Realtors L Veg L Arg CAe Diane Sydell, president of the South- not only is cheaper than building, but already enjoys broad bipartisan support. 30-Yr FRM - 3.02% 15-Yr FRM 2.34% PROP 19 0o THE VOICE OF REAL ESTATE IN THE SAN FERNANDO AND SANTA CLARITA VALLEYS www.SRAR.com | Real Estate Questions? E-mail Diane Sydell, SRAR 2021 President, c/o DavidW@SRAR.com REALTORS is a federally registered collective membership mark which identifies a real estate professional who is a Member of the NATIONAL ASSOCIATION OF REALTORSe and subscribes to its strict Code of Ethies. ADVERTISING SUPPLEMENT Homes for Sale Needed Statewide! Proposition 19 Property Tax Savings Coming April1 Thanks to Proposition 19 which goes into effect on April 1 - homeowners who are age 55 or older, owners with severe disabilities, or any owners who have been victims of wildfire or natural disaster, can move closer to family, medical care, or a home that better meets their needs anywhere in California without a tax penalty. Soutiand Regional Association of Reators By Dane Syde, Presidert, and David Waket Strong homebuying interest continued during February to support the market as monthly sales throughout California recorded the eighth straight year-over-year gain. SOUTHLAND REGIONAL AssoCIATION OF REALTORS", INc. ownership opportunities likely will open up each year for renters, young families and first-time homebuyers in communities throughout the state. For details on this new opportunity, go online to www.caprop19.org, a website designed by the California Association of Realtors to answer all Prop. 19 questions. February sales were up 9.7 per- nt compared to a year ago, the California Association of Bay Area off 29.2 percent, had rela- tively smaller declines in their regional housing supply, but their inventory levels remained significantly below last year's level. "The upward movement in rates has called into question whether the mar- ket will sustain its momentum going into the spring homebuying season, ary 2020 to $699,000 this year. The double-digit increase was the seventh in a row and the second largest since February 2014. Orber key points from CAR.I Febru- ary 2021 resale bousing report inchuded: * At the regional level, all major regions, except for the Central Valley, experienced a surge in sales from a year TAX SAVINOS FOR OLDER HOMEOWNERS Realtors reported said C.A.R. Vice President and Chief Thenia e Preo eorem, end el hemoren ged - can move coser to nty, macical ca ortoahome e end any n Cat ago, Tuesday, "The housing The market will soften in the The me- dian number of days it Pep dter eta p te hemes eebee ofmer enet market has been cruising at a 2021 SRAR President robust pace since second half of 2021 if we don't see took to sel a Califormia enough homes ... to meet demand' single-family Realtor Diane Sydel, the second half of 2020, but it has encountered some speed bumps recently as rates began to rise," said C.A.R. President Dave home was 10 Economist Jordan Levine. "While rates are off their record kows, they are still relatively kow by historical standards,"he said. "Recent increases in mortgage rates will likely slow the pace of price growth in the coming months buit will also motivate those who truly want to buy to enter the market before rates start moving days in February, down from 23 days in February 2020. The 30-year, fixed-mortgage interest rate averaged 2.81 percent in February, down from 3.47 percent in February 2020, acoonding to Freddie Mac. The five-year, adjustable mort- gage interest rate was an average of 2.83 percent, compared to 3.26 percent in February 2020. SAVINGS rOR HOMEOWNERS WITH SEVERE Walsh. DISAITES Slightly higher interest rates seen over the last several weeks may tem- porarily slow the growth of sales, but Walsh said the "major roadblock in the long run is a shortage of homes for sale. With inventory dropping more Pooo rovetuntar ene en Catone wn ee db, oing honeorenmow reteceme ome anytesn Cetria Under Pop hameonan wnve dubite an ate the la o er g one ene than a half from a year ago, Walsh said, further up." "the market will soften in the second half of 2021 if we don't see enough homes come on the market to meet Low rates, robust demand and a shortage of homes for sale continued to push up home prices on a year-over- year basis, gaining 20.6 percent from the $579,770 recorded in Febru- The Southland Regional Association of Real tors is a local trade association with more HOUSINO RELIEF FOR than 10,300 members serving the San Fer nando and Santa Clarita Valleys. SRAR is one of the largest local associations in the nation. VICTIMS OF WILDFE AND demand." NATURAL DISASTER The available supply of homes for sale continued to tíghten up across the state, with all major regions at record low levels not seen in the past 10 years. Three of the five regions, in fact, declined 55 percent or more in active Ater widtres oyed more han 24000 lany home nnete ye tete nsheve tet as prperty len e when ng te te Home Ownership-Key land Regional Association of Realtors served as the official inquisitor. When it comes to the state's budget, Gabriel said "the good news is that we're in a better place than any of us could have hoped.. Help from the federal level will aid local jurisdictions. "Housing is key to buikling wealth," he said, "We necd more aereprpeny eete damged hee lecent heme nyhein Caitoria to Building Wealth Taming COVID-19 and spur- ring economic recovery are at the top of Assemblymember Jesse Gabriel's list of imperatives, but housing, which was in crisis long before the pandemic hit, is equally important. The Woodland Hills Democrat, who is also majority whip, was the guest speaker in a listings from last year. The Central Coast region had the biggest year-over-year drop of 55.6 per- cent in February, folowed by Southern California, down 55.4 percent, and the Central Valley, down 55.0 percent. The Far North, which was down 46.3 percent, and the San Francisco INCHLASID INVENTORY FOR YOUNG FAMILIES E FIRST-TIME BUYERS housing, particularly affordable housing To do that Gabriel M fede omne fe eomes onger meet their nc-hey wttomovetorio nge ene commt, e water ham Pep t ty hopes to eliminate inef- ficiencies. He is a propo- nent of using tax credits to buikd affordable A mo eno sovertage of rap hing er tutew enh e Interest Rate Update ng tenes, emete nite thoughat Cafee National average as reported by Freddie Mac on: March 11 30-Yr FRM - 3.05% 15-Yr FRM - 2.38% March 4 housing. Yet he stressed that preserving 35,000 recent statewide Zoom ksnlynenter lese Catrie D-oodand cústing affordable units that are threatened call organized by the Califomia Association of Realtors L Veg L Arg CAe Diane Sydell, president of the South- not only is cheaper than building, but already enjoys broad bipartisan support. 30-Yr FRM - 3.02% 15-Yr FRM 2.34% PROP 19 0o THE VOICE OF REAL ESTATE IN THE SAN FERNANDO AND SANTA CLARITA VALLEYS www.SRAR.com | Real Estate Questions? E-mail Diane Sydell, SRAR 2021 President, c/o DavidW@SRAR.com REALTORS is a federally registered collective membership mark which identifies a real estate professional who is a Member of the NATIONAL ASSOCIATION OF REALTORSe and subscribes to its strict Code of Ethies.