Area Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

Feb. 16, 2021

Episode 2: California's Proposition 19

The Rey Rey Show

Episode 2: California's Proposition 19

 

 

Description

Links

https://leginfo.legislature.ca.gov/fa...​

 

https://leginfo.legislature.ca.gov/fa...​

 

The measure, beginning on and after February 16, 2021, would exclude from the terms “purchase” and “change in ownership” for purposes of determining the “full cash value” of property the purchase or transfer of a family home or family farm, as those terms are defined, of the transferor in the case of a transfer between parents and their children, or between grandparents and their grandchildren if all the parents of those grandchildren are deceased. The measure would require that the taxable value of the property be determined as provided. In the case of property tax benefits provided to a family home under these provisions, the bill would require the transferee to claim the homeowner’s or disabled veteran’s exemption within one year of the transfer. The measure would specify that the above-described provisions relating to transfers between parents or grandparents and children or grandchildren would apply to transfers occurring on or before February 15, 2021.

This measure, beginning on and after April 1, 2021, would authorize an owner of a primary residence who is over 55 years of age, severely disabled, or a victim of a wildfire or natural disaster, as defined, to transfer the taxable value, defined as the base year value plus inflation adjustments, of their primary residence to a replacement primary residence located anywhere in the state, regardless of the location or value of the replacement primary residence, that is purchased or newly constructed as that person’s principal residence within 2 years of the sale of the original primary residence. The measure would limit a person who is over 55 years of age or severely disabled to 3 transfers under these provisions.

 

You can reach out to Shoup Legal at www.shouplegal.com for your real estate planning. They can help you with questions on proposition 19 as well as estate planning matters. 

 

We would love to hear your questions and please comment on your thoughts. Your feedback is very important to us! The Rey Rey Show is here to help you with all of your real estate needs. The real estate industry has a lot of fraud, greedy investors and lots of important information that requires the help of real estate professionals. Don't get KO'd out there! LIKE AND FOLLOW! Thank you for listening. :-)

 

Feb. 16, 2021

Episode 1: California's Eviction Moratorium

The Rey Rey Show

Episode 1: California's Eviction Moratorium

 

Description

Original Moratorium Order: 

https://www.gov.ca.gov/2020/03/27/gov...​

 

New Moratorium Order: 

https://www.gov.ca.gov/2021/01/29/gov...​

 

The original moratorium banned the enforcement of eviction orders for renters affected by COVId-19 through May 31, 2020. It also prohibited landlords from evicting tenants for nonpayment of rent and prohibits enforcement of evictions by law enforcement or courts. It also required tenants to declare in writing, no more than seven days after the rent comes due, that the tenant cannot pay all or part of their rent due to COVID-19. With the new moratorium extension, evictions are paused for tenants who declare under penalty of perjury an inability to pay all or part of the rent due to a COVID-related reason. Tenants are still responsible for paying unpaid amounts to property owners, but those unpaid amounts cannot be the basis for an eviction, even after the moratorium ends.

 

You can reach out to Shoup Legal at www.shouplegal.com for your real estate planning. They can help you with questions on the moratorium extension as well as estate planning matters. 

 

We would love to hear your questions and please comment on your thoughts. Your feedback is very important to us! The Rey Rey Show is here to help you with all of your real estate needs. The real estate industry has a lot of fraud, greedy investors and lots of important information that requires the help of real estate professionals. Don't get KO'd out there! LIKE AND SUBSCRIBE! Thank you for listening. :-)