REAL ESTATE
Ask Ponytail
Top 1% Agent in East Bay
What Proposition 19 Means to You and Your Family
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Overview
On November 3, 2020, California voters approved Proposition 19, titled the Home
Protection for Seniors, Severely Disabled, Families and Victims of Wildfire or Natural
Disasters Act. Proposition 19 is a constitutional amendment that has several different
provisions affecting different parties, including wildfire victims and severely disabled
people, seniors looking to relocate within California, and children or grandchildren who will
eventually inherit property.
Current law allows a primary home to be transferred – by sale, gift, or inheritance -
between parents and children, and between grandparents and grandchildren, without
reassessment, and other types of properties, such as a vacation home, rental or
commercial property, to be transferred with the first $1 million exempt from reassessment.
Overview
Concluding remarks
01COVID Changed a LOT
• Big impacts to economy + structural effects
• This caused housing to do particularly well
03 Not Everything Changed
• Our structural issues have been exacerbated
• Supply more problematic in a remote world
Many things changed because of COVID-19
• COVID made housing more important than ever
• Initial surge of demand from remote work and high income
• Premium on additional space & quality of life
Some changes are fading, and others persist
• Remote work and online shopping are here to stay
• But demand quickly returning to California’s core in 2021
• Many of the housing challenges return to the fore
Putting it all together
• Forward looking indicators suggest 2nd half of ‘21 will slow
• More inventory, but also sightly less demand (rates & fatigue)
• More ‘normal’ growth for prices and sales going forward
• Big impacts to economy + structural effects
• This caused housing to do particularly well
03 Not Everything Changed
• Our structural issues have been exacerbated
• Supply more problematic in a remote world
EL SOBRANTE
02 Transitory & Lasting Impacts
• Some effects already beginning to fade
• Other changes are expected to persist
04 The Forecast
• Solid sales and double-digit price growth in 2021
• Forecast still optimistic, but expect downshift
Changed a LOT
Transitory & Lasting Impacts
MEDIAN SALES PRICE HOME SOLD SALES PRICE / LIST PRICE
• Some effects already beginning to fade
• Other changes are expected to persist
04 The Forecast
• Solid sales and double-digit price growth in 2021
• Forecast still optimistic, but expect downshift
Under Proposition 19, these tax breaks will be limited with fewer tax savings
EL CERRITO
SAN PABLO
HERCULES
opportunities.
Proposition 19 will allow homeowners who are over 55 years of age, disabled, or
victims of a wildfire or natural disaster to sell their primary residence and transfer
its assessed value to a replacement primary residence in any county in California up
to three times.
For more information, please visit: www.AskPonytail.com/prop-19
*Consult with an attorney/accountant to confirm how your circumstances apply to the new laws. Prop-19
comes with limitations and these statements are intentionally broad*
RICHMOND
RICHMOND
KENSINGTON
MEDIAN SALES PRICE
WANT TO KNOW YOUR HOME'S VALUE?
FIND OUT YOUR HOME’S VALUE, GO TO
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29
REAL ESTATE
Ask Ponytail
Top 1% Agent in the East Bay
WANT TO KNOW YOUR HOME'S VALUE?
ExpressHomeEstimate.com
DRE#01449007 国， 粤，英 语
EL CERRITO
EL SOBRANTE
SAN PABLO
HERCULES
KENSINGTON
MEDIAN SALES PRICE HOME SOLD SALES PRICE / LIST PRICE
MEDIAN SALES PRICE
29
REAL ESTATE
Ask Ponytail
Top 1% Agent in the East Bay
DRE#01449007 国， 粤，英 语
/www.ExpressHomeEstimate.com
