Why are People Now Charging into the Market?

Please read the article below and give us a call! All of these people cannot be wrong!

We believe that the increased interest in purchasing homes is not because the mortgage rates are low; we suspect it is because they are no longer going down!

https://magazine.realtor/daily-news/2019/09/26/redemption-in-new-home-sales?AdobeAnalytics=ed_rid%3D804807%26om_mid%3D1438%7CRealtorMagNews_2019_09_26%26om_nytpe%3DREALTOR%20MAG%20NEWS


Posted on September 27, 2019 at 12:42 AM
John and Diana Case | Posted in Uncategorized |

Big Changes! Not All of Them Good

This week broke a streak where interest rates were holding or going down. Rent control for the state appears to be a foregone conclusion. Take a look and give us a call. 925-382-9771


Posted on September 13, 2019 at 11:33 PM
John and Diana Case | Posted in Uncategorized |

Holiday Home Interest Continues to Improve!

Anthoer week goes by and Buyers and Sellers prospects for a Happy Holidays improves. We have more Buyers, more Seller, continuing low interest rates and enough time to get you into your new home for the holidays. Time waits for no one and things can change quickly so act now!

 


Posted on September 7, 2019 at 2:44 AM
John and Diana Case | Posted in Uncategorized |

It’s Autumn Buying Season! (and Selling, as well!)

Every year, once Labor Day hits, people begin to think of the upcoming holidays! And given the short time we have to prepare for the, we also may wish to think about a new home for them. As a result, increases in people who want to be to in new place to live by the holidays are on the increase! With interest rates as low as they are, the timing short, and a large number of homes available for purchase, this is a 3 for 3 opportunity for a buyer to easily achieve their goal to celebrate the holidays in style. Take a look at the video and then give us a call at 925-308-7045. We can help you get to where you are headed!


Posted on September 3, 2019 at 12:33 AM
John and Diana Case | Posted in Uncategorized |

East Contra Cost County Statistics

We monthly get updates from one of our local mortgage lenders on the state of real estate locally. Here is a copy of July’s action!

E Co Co Stats

I you want to discover more, please contact us!

 


Posted on August 23, 2019 at 12:27 AM
John and Diana Case | Posted in Uncategorized |

A new low in interest rates! Jump in before they are Gone!!!!!!

Rates today have not been this low since the beginning of the last recession! The reasons for the last recession are not present today! Give us a call at 925-308-7045 to find out what this means to home buying and home selling!


Posted on August 15, 2019 at 1:22 AM
John and Diana Case | Posted in Uncategorized |

Topic of the Day? Interest Rates, of course!

There has been a ton of activity in the interest rate markets during the past week or so.

Let’s talk about it. Call us at 925-308-7045


Posted on August 9, 2019 at 2:19 AM
John and Diana Case | Posted in Uncategorized |

Interest Rates Rising? Look Again!

A few weeks ago I urged everyone to lock in their interest rates for their mortgage as rates looked to be ending their downward slide……..

BOY WAS I WRONG!

Watch the video to see what is going on in the interest rate arena and why this is a great time to invest in your new home!

 

Of course, if you have any questions, please contact me at 925-382-9771

Many thanks,

JC

 


Posted on August 3, 2019 at 4:35 AM
John and Diana Case | Posted in Uncategorized |

CA Property Tax tips

Many thanks to my friend Andy Perry of Old Republic Title for the information she just supplied. If you think you may qualify for a property tax reduction or exclusion, take the time to read this article. Call us if you think you may but do not know for certain. We will point you in the right direction.

 

View in browser

 

Happy Thursday, John & Diana!
A Property Tax Savings
and Reappraisal Exclusions

A PRELIMINARY CHANGE OF OWNERSHIP REPORT must be filed with each conveyance in the County Recorder’s office for the county where the property is located. The PCOR is a two-page questionnaire requesting transfer information on the property; possible exclusions from reassessment; principals involved in the transfer; type of transfer; purchase price and terms of sale, if applicable; and other such pertinent data.

There are several tax savings and exclusions from reappraisal that are triggered by the information provided on this form.

 

PROP 60/90 55 AND OLDER Propositions 60/90 amended section 2 of Article XIIIA of the California Constitution to allow a person who is over age 55 to sell his or her principal place of residence and transfer its base year value to a replacement dwelling of equal or lesser value that is purchased or newly constructed within two years of the sale. These propositions are implemented by Revenue and Taxation Code section 69.5.

Proposition 60 allows for the transfers of a base year value within the same county (intracounty). Proposition 90 allows for the transfers of a base year value from one county to another county in California (intercounty) if the county has authorized such a transfer by an ordinance.

As of November 7, 2018, the following ten counties in California have an ordinance enabling the intercounty base year value transfer:

Alameda  |  Los Angeles  |  Orange  |  Riverside  |  San Bernardino  |  San Diego  |  San Mateo  |   Santa Clara  |  Tuolumne  |  Ventura

 

PROP 110-DISABLED PERSON Proposition 110 is a constitutional initiative passed by California voters that provides property tax relief for severely and permanently disabled claimants when they sell an existing home and buy or build another.

 

 

PROP 58/193 TRANSFERS BETWEEN PARENT AND CHILD
What are Propositions 58 and 193?

Proposition 58, effective November 6, 1986, is a constitutional amendment approved by the voters of California which excludes from reassessment transfers of real property between parents and children. Proposition 58 is codified by section 63.1 of the Revenue and Taxation Code.

Proposition 193, effective March 27, 1996, is a constitutional amendment approved by the voters of California which excludes from reassessment transfers of real property from grandparents to grandchildren, providing that all the parents of the grandchildren who qualify as children of the grandparents are deceased as of the date of transfer. Proposition 193 is also codified by section 63.1 of the Revenue and Taxation Code.

In the State of California, real property is reassessed at market value if it is sold or transferred and property taxes can sometimes increase dramatically as a result. However, if the sale or transfer is between parents and their children, or from grandparents to their grandchildren, under limited circumstances, the property will not be reassessed if certain conditions are met and the proper application is timely filed.

These propositions allow the new property owners to avoid property tax increases when acquiring property from their parents or children or from their grandparents. The new owner’s taxes are calculated on the established Proposition 13 factored base year value, instead of the current market value when the property is acquired.

 

PROP 8-DECLINE IN VALUE In June 1978, California voters approved Proposition 13, the landmark property tax limitation initiative that added Article XIII A to the California Constitution.

Proposition 13:

 

  • Rolled back most local real property assessments to 1975 market value levels;
  • Limited the property tax rate to 1 percent plus the rate necessary to fund local voter-approved bonded indebtedness;
  • In most cases, limited future property tax increases to a maximum of 2 percent per year. In November 1978, California voters passed Proposition 8, which amended Article XIII A to allow temporary reductions in assessed value in cases where real property suffers a decline in value. Proposition 8 is codified by section 51(a)(2)  of the Revenue and Taxation Code.

 

A decline in value occurs in any year in which the current market value of real property is less than its adjusted base year value as of the lien date, January 1. A property’s base year value is the market value of real property as established in 1975 or when the property last changed ownership or underwent new construction. The base year value is adjusted annually by lower of the percentage change in the consumer price index (CPI), or 2 percent. The adjusted base year value is also known as the factored base year value.

 

 

ACTIVE SOLAR ENERGY EXCLUSION The property tax incentive for the installation of an active solar energy system is in the form of a new construction exclusion. It is not an exemption. Therefore, the installation of a qualifying solar energy system will not result in either an increase or a decrease in the assessment of the existing property.

Generally, when something of value is physically added to real property, the addition is assessed at current market value and this value is added to the existing base year value of the real property. When an active solar energy system is installed, it is not assessed, meaning that the existing assessment will not increase.

Some active solar energy properties may be eligible for exclusion from reassessment.

Effective June 20, 2014, the sunset date for the active solar energy system new construction exclusion was extended through the 2023-24 fiscal year. The statue is now scheduled to sunset on January 1, 2025.

All information provided by https://www.boe.ca.gov/proptaxes/faqs/faqspropindex.htm

 

Andy Perry
Senior Account Executive
aperry@ortc.com
C: 925.354.1425
200 Sand Creek Road Suite A Brentwood, CA 94513

 

 

 
Old Republic Title is providing this information as a free customer service and makes no warranties or representations as to its accuracy.

Old Republic Title strongly recommends that consumers confer with their title insurer as underwriting requirements vary among companies and further, obtain guidance and advice from qualified professionals, including attorneys specializing in Real Property, Trusts and/or Title Insurance to get more detailed, and current, information as to any particular situation affecting them.

Copyright ©2019, All rights reserved.

Our mailing address is:
Old Republic National Title Holding Company
1410 N. Westshore Blvd, Suite 800
Tampa, FL, 33607

Posted on July 11, 2019 at 9:45 PM
John and Diana Case | Posted in Uncategorized |

Summer Doldrums begin next Week!

In case you are interested…..the real estate market sometimes falls asleep from July 4 to Labor Day. This is your opportunity to take advantage while others are off doing summer vacays and other less important activities!


Posted on June 29, 2019 at 4:30 AM
John and Diana Case | Posted in Uncategorized |

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