Ronelyn Samudio

PENDING IN 13 DAYS! . These two listings in San Jose, CA had MULTIPLE OFFERS and is PENDING for OVER ASKING PRICE! . Want to know how much your home is worth? Visit bit.ly/samudiosalesteam to find out!

Prop 19 has passed. Now what does that mean and how might it affect you and your family? Typically when Californians buy a new home, their property taxes increase dramatically. That’s because, unlike most other states, Californians are not taxed on the present value of their home. Pursuant to Prop 13, property taxes here are based primarily on each homes original purchase price. What that means is people who bought their home twenty-five years ago are generally paying way les...s in property taxes than the neighbors who moved into a similar home across the street last year. This unique provision of CA tax law protects people from being taxed out of their home. But it also de-incentivizes downsizing. Moving means a new assessment and a new, higher tax basis. Even if you move to a smaller and less valuable home than your current home, you typically will start seeing exponentially higher semi annual property tax bills because again, those bills are based on purchase price. Prop 19 allows Californians over 55 to move anywhere in the state and retain the value of their most recent tax basis. They can do this up to three times, and they are no longer limited to certain counties or price points. The primary purpose is to make it easier for seniors to downsize when the time is right without worrying about a colossal tax hike, and to free up inventory for growing families. Now, if this seems familiar, it’s because it is. A similar ballot proposition was proposed and defeated in 2018. The difference is that former proposition had no revenue mechanism. This one, unfortunately does. It comes via a significant change to our states inheritance rules. Current law exempts inherited property, and property transferred to one’s children, from being treated the same as arms-length transactions for property tax purposes. This means that, when a Californian inherits her parents estate, she retains the same lower tax basis her parents enjoyed. There is no appraisal and step up as there would have been had the home been sold to a third party. Unfortunately, Prop 19 changes that. Starting February 16, 2021, only inherited transfers that result in the receiver moving in and making

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Virtual House tomorrow! Don't miss out!

Join us in viewing this beautiful Evergreen home!

Join us on January 9, 12:00 PM to view this beautiful family home! Conveniently located in desirable Evergreen neighborhood with top Evergreen Schools! Your family will love this 4 bedroom, 2 bath tastefully remodeled home featuring spacious floor plan, updated kitchen with marble tile floors, granite countertops & plenty of cabinet space! Also featuring new laminate flooring throughout, new interior paint, step down family room with fireplace, nice size bedrooms, spacious master suite with his & her closets, newly remodeled master bath and hall bathroom, dual pane windows, spacious backyard with covered patio, lemon & fruit trees. Close to schools, shopping mall, grocery, pharmacy, new Costco & public transportation. Easy access to freeways 101, 280 & 680. This a home that your whole family will love! List Price: $965,000

Wishing you and your loved ones a happy, healthy and prosperous 2021! Happy New Year! See you in 2021!!

Congratulations to Jeff & Maricel on being the official owners of a new home! With low inventory and high demand due to the low interest rates the competition... was fierce. This home they bid on had 35 offers! The exciting news... they got their OFFER ACCEPTED!!! With a touching letter to the seller of a mother’s wish for all her children to have a home of their own and with the help of loan officer, Chris Yangas, to show that their financing was solid we pulled together as a team to get them the home they wanted. They received their keys last night and we could not be more happier for them! Cheers to you both and the family! What a beautiful Christmas & New Years gift for you all!! See more

How about a brand new home for the Holidays!! So over joyed to see it come true for the Reynoso Family!! Congratulations Reynoso Family on your brand ne...w home!! Your patience definitely paid off! Thank you for letting me be a part of your home buying journey! Cheers to you! Wishing you many blessings and amazing new memories in your new home!! See more