April 19th, 2018
Realtors putting their money where their mouth is for Palos Verdes Seniors
Most Palos Verdes seniors are aware of Proposition 60 and Proposition 90 In a nutshell, if you’re over 55 years of age, when you sell your home and move to an equal or less value home in the same county in which you sold your primary residence, then you can carry along your property taxes. In addition, should you move out of the county and if the county you’re moving to accepts the transfer, you can bring along your property taxes.
And there’s part of the problem, some counties accept the transfer, and others don’t. Just a few days ago, the California Association of Realtors (CAR) voted to assess each member in the state (about 180,000) $100 to help fun a CAR sponsored ballot initiative for the November 2018 election
The initiate however goes much, much further. And this is something that Palos Verdes seniors will capture huge benefits. The initiative, if passed, would allow “individuals 55 years of age and older to transfer their property tax basis to any home in the state, to purchase any price home, and to transfer their basis as many times as they wish.”
Right now, only eleven of California’s 58 counties will allow a senior from another county to transfer their property taxes. Why is changing this important?
For years now the California real estate market has been hamstrung by an enormous lack of inventory. There’s an artificial stoppage in the market of allowing inventory that normally would come to market. Palos Verdes seniors and other seniors across the state who normally would list their homes, aren’t because they can’t afford to move to the areas they would like to move.
CAR estimates that changing the law would bring about an additional 43,000 home sales.
Did you find the information here helpful and/or useful? Reviews are important for local search engine rankings. Please take a moment and write a 5 star review here
Click picture below (from your mobile device) to get one of the best if not THE best app I’ve found to search for homes. Check out the “radar” function called “Spot” on lower right part of the app’s screen once you’ve installed it
Download George Fotion’s app!
Here’s another app that is hugely interactive and responsive on the road
This app won “best in show” just recently where top real estate tech firms competed with their real estate apps
Over 40 5 Star Reviews
|Join me on Google+Original Content for Palos Verdes Homes George Fotion|
Call Realty Best Palos Verdes Homes, 433 Via Corta, Palos Verdes Estates, CA 90274 (424) 226-2147