Temple City Homes for Sale

SOLD in 9 Days! Multiple Offers! Temple City Home on Large Lot!

Recently Remodeled Temple City Home…Temple City Schools…Immaculately Maintained…Remodeled Kitchen with Newer Cabinets and Granite Counters…Breakfast Nook…Large Window in Living Room…Recessed Lighting…Wood Floors Throughout Common Areas…Large Windows offer Plenty of Light…Bonus Room for Studying or Play…Separate Laundry Room…Spacious Yard…Walking Distance to Schools…A Great Family Home in Temple City!

Temple City Homes for Sale

Over 55 and Moving? Save on Your Property Taxes

One of the most common obstacles I run into when working with clients over the age of 55 to find a new home is their property taxes. Many retirees over the age of 55 rely on fixed income or need to be cautious with their money. So when they want to move, either downsize, move to a different area, or move closer to their kids, they can usually afford the home but sometimes they can’t afford the property taxes that are associated with it. Property taxes are usually assessed when you purchase your home at the market price at the time you complete your purchase. Since home prices are so much higher than they were decades ago, this can mean a huge jump in property tax expense. Luckily, there’s Proposition 60 and Proposition 90 that allows homeowners over 55 to transfer their previous property tax basis to their new home. Here are the requirements:

1. You or your spouse must be 55 or older when the original property sells.
2. Your new property must be your principle residence.
3. Both properties must be eligible for the homeowners’ exemption or disabled veterans’ exemption.
4. The market value of the new property must be lower than the original property. Only 1 to 1 exchanges are allowed. Even if only a partial interested in the new property is purchased, the whole property value will be used for this test.
5. The original property closing date must differ from the construction completion or purchase date by two years or less. You can purchase the new property before selling the original property and vice-versa.
6. You must file within 3 years of purchasing your new property.

This is only a one-time benefit and if you transfer between two counties, make sure the county your new home resides in accepts intercounty transfers. As of the time of this blog article, only Alameda, Orange, San Mateo, Ventura, Los Angeles, San Diego, Santa Clara counties allow this type of transfer. Please check with the county you’re moving to verify. I have personally worked with clients transferring their taxes to their new Pasadena and Arcadia homes but every situation is different so please check with your tax accountant or appropriate professional for more information about your particular situation. For more information online, please see this site.

Temple City Homes for Sale

Short Sale! Just Sold! 10715 La Rosa Drive, Temple City

This 4 bedroom, 2 bath home is remodeled extensively. Inside, it featured a newer kitchen, a family room, living room, den, breakfast nook, and almost 1,800 square feet of living space. The home was a pre-foreclosure status and our final listing price was $500,000. We ended up doing a short sale for the home and successfully avoided foreclosure.

Short sales can be a complicated, stressful, and long process. If you are selling your home, late on your payments, or are facing financial struggles, please contact me as I am always here to help you try to keep your home first and sell your home if necessary.