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My dad has some dementia and some mobility issues. He has been living with me and my family since it got to the point a few months ago where my sib (who was living with Dad) just couldn't do it by himself. So Dad came to live with us: me, my husband and two sons. My sib has plans to stay in the house and buy me out once Dad passes, and he wants me to exercise the POA and transfer the house title now. Has anyone else been in a similar situation and what have you done? Thanks!

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I haven't been in that position, but I strongly suggest you not do it. I'm not saying your brother means anything bad by it, but it's still your dad's house until he passes, and I don't know if he has plenty of money, but it may be needed to supplement his care later on. A Power of Attorney is to be an advocate for your dad, not your brother.
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