Get your Free Credit Report

 

I cannot stress enough the importance of reviewing your current credit history before thinking of purchasing a home and finding derogatory information which may disqualify your purchase or be placed in a higher interest rate. Request your free annual credit report from Experian,  Equifax and Trans Union.

 

https://www.annualcreditreport.com

 

Fight identity theft by monitoring and reviewing your credit report. You may request your free credit report online, Free credit reports requested online are viewable immediately upon authentication of identity

Propostion 90 and You

What Is Proposition 90?

Under Proposition 90, California property owners who are 55 and over may qualify to transfer the assessed value of their principal residence sold in participating counties.

Qualifications for Proposition 90 are as follows:

1.  The purchaser or spouse must be 55 years of age.

2.  The replacement residence must be equal to or less than the value of the residence sold.

(3) The replacement residence must be located in the same county as the property

being sold OR must be located in one of the counties which have voted to

pass Proposition 90 in order for the real property tax base to be transferred

from the former residence to the replacement residence. Before making plans to move, call the County Assessor’s Office in the county you are moving to and request the most recent information concerning Proposition 90.

New CHP Laws on cell phones

Going into  

Effective July 1^st 2008

 

 

 

            DRIVER 18 AND OVER

 

• Drivers 18 and over will be allowed to use a hands- free device to talk on their wireless telephone while driving.
• The new law does not prohibit dialing, but drivers are strongly urged not to dial while driving.
• It is legal to use a Blue Tooth or other earpiece so long as only one ear is uncovered.
• Speaker phone is acceptable to use while driving. The law does not specifically prohibit it its use, but an officer can pull over and issue a citation to drivers of any age if, in the officer’s opinion, the driver was distracted and not operating the vehicle safely. Text paging while driving is unsafe at any speed and strongly discouraged.

 

      DRIVERS UNDER 18

 

• No drivers under the age of 18 may use a wireless telephone, pager, laptop, or any other electronic communication or mobile services device to speak or to text while driving in any manner, even hands free.
• The exception is in emergency situation to call police, fire or medical authorities.
• Statistics show that teen drivers are more likely than older drivers to be involved in crashes because they lack driving experience and tend to take greater risks. Teen drivers are vulnerable to driving distractions such as talking with passengers, eating, or drinking and talking or texting on wireless phones, which increase the change of getting involved in serious vehicle crashes.
• Parents cannot grant permission to allow the use wireless telephones while driving.
• For drivers under the age or 18, this considered a SECOND violation meaning that a law enforcement officer may cite you for using a hands- free wireless phone if you were pulled over for another violation. However, the prohibition against using a handheld telephone while driving is a PRIMARY violation for which a law enforcement officer can pull you over.

 

            Fines

• First offence- $20
• Second Offence – $50

DRIVE SAFELY

The big election year myth.

It has been said that you should not make a large investment in an election year. 

A home purchase is for long term stability. Most homes historically appreciate with time.

No matter which party holds the Presidential office you can bet that they will not disappoint voters by cutting off mortgage deductions. 

There are other variables that you should consider, such as price location and loan terms. These will have a direct affect in your financial future. 

At this time housing stock is ripe for choosing prime properties and interest rates are the best they have been in years. 

People looking to upgrade or first time buyers have much to take advantage of.

Don’t let the myth keep you

 from achieving the important things in your life. 

CommYOUnity

Thank you for visiting our blog! We would like to invite you, our readers to interact and share your feelings about your city. If you could leave a comment  with the three best words to describe your home town, we would love to share them with everyone on a monthly post. It does not matter where you are, whatever part of the country, describe your home and let everyone get to know how you feel about your city! 

Example comment:

John Smith – Downey

Greatest City Ever!!!

got equity?

It is a long term commitment when it comes to owning a property.

 Yes, prices go up and down. But you must remember the history of real estate,

the longer you stay in it, the better the return.

By: wespeakrealestate

What is Proposition 8?

Thanks to you California Voter’s Proposition 8 was passed in 1978: A constitutional amendment that allows a temporary reduction in assessed value when a property suffers a “decline-in-value.” (To read the law associated with Proposition eight, Revenue and Taxation Code, Section 51- at     www.boetaxes.ca.gov/property

It is when the current market value of your property is less than the current assessed value.

Help is here.

The Los Angeles County Assessors is applying Proposition eight for property owner whom purchased their home between July 1, 2005 and June 30, 2007. They will look at sales of comparable properties that sold near the lien date of January 1, 2008.

You must file a claim form for a Decline-in-Value Reassessment Application (Prop. eight) with the Assessor between January 1 and December 31 for the fiscal year beginning on July 1. If December 31 falls on a Saturday, Sunday or legal holiday, an application is valid if either files or mail and postmarked by the next business day. For questions and forms please write the following information:

The assessor office Online:  www.assessor.lacounty.gov
Email: helpdesk@assessor.lacounty.gov
Phone Call: (213) 974-3211

Office will complete this review by June 1, 2008 and will modify in writing those property owners who qualify for the reduction.

If the sale date is not with in the dates noted or is other than a single home or condominium, it will not be included in the review. But if you believe the assessed vale of the property shown on the 2007-08 tax bill is more than the fair market value as of the 1st of January 2008, you may file an application at the time through the 31st of December 2008.