Your House and Elections in Los Angeles

Your House and ElectionsWith the national elections ramping up, many voters already have voter fatigue (also called voter apathy). That is, we’re already so tired of hearing about the elections that we don’t bother to vote at all. In fact, voter apathy is quite high in the United States: Somewhere between a third to a half of eligible voters do not vote in national elections and even fewer vote in local elections.

But, “the likelihood that a homeowner will vote in a local election is 65%, compared to 54% for renters” and they are 3% more likely to vote in national elections than renters.

Here’s why not voting is a bad idea:

Local elections can affect the marketability of your home

The value of your home in Los Angeles is determined by a variety of factors, one of which is the rating of the local schools and another is the infrastructure of the community (the age and condition of the bridges, roads, drainage, street lights and other municipal projects). When a municipal bond issue comes up for vote, the outcome can affect both your bottom line through property and sales taxes, and the community desirability via new roads, better schools and protection from flooding (for example).

National elections can affect home prices

The affect on home sales prices in Los Angeles is not because of the specific outcome of the elections, but because consumers become more nervous about the economy during election years. When larger blocks of homeowners vote, they are placing their trust in the economy and the expectation that home values will rise.

Direct effect on property taxes

Some propositions have direct effect on your property taxes and the sharing or distribution of municipal expenses. For instance, in an upcoming election in Texas, directly changes the amount that a homeowner is able to exempt from property taxes (the homestead exemption) and makes that change a constitutional amendment … meaning that it takes another vote of the State’s entire electorate to change it. You might think that this would raise marketability to non-child families and lower marketability to families with children, but proponents believe that instead, it will increase home values across the board, thereby increasing tax revenue to schools.

One aspect of participating in local elections is that the homeowner gets to know what is important to other people in their community. Being part of a community is one of the benefits of homeownership. Connecting with your neighbors to improve your schools, streets and bridges can bring a sense of civic pride and camaraderie to your neighborhood.

Your local real estate professional in Los Angeles can indicate which areas in your neighborhood adversely affect the market value of your home. If you can help improve those things now, you should, so that when you’re ready to sell, your home’s value is at its highest.

Brought to you by Jerry & Rachel Hsieh

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Your House and Elections in Los Angeles

Jerry and Rachel Hsieh

In the past 13 years in real estate and at the age of 38, Jerry has had the good fortune of experiencing all of this at some point and has established himself as one of the premiere AWARD WINNING Realtors in the industry. Jerry began his career at Coldwell Banker with incredible heat: He was named the top “rookie” agent his inaugural year with over $4.5 million dollars listed and/or sold (Most 1st year agents don’t complete any transactions). Since then, his real estate career has been non-stop and he has quickly become the realtor that other young realtors talks about. In 2010, in a down market, Jerry and Rachel sold 24 homes within a 1 mile radius of the Pico/Fairfax area. They have sold over 50 homes in the Picfair Area in the past 4 years, more than any other realtor. From 2011 until now, Jerry and Rachel’s Team has grown, as has Jerry’s experience and expertise.