On Nov, 4, 1986, the voters of California passed Proposition 60 to provide to qualified homeowners the tranfer of the base-year value of their principal residence to a replacement dwelling located in the same county, under certain circumstances.

If you or your spouse that reside with you are age 55 or older, you may buy or construct a new home of equal or lesser value than your existing home and transfer the temded base value your new property.

This is a one time only benefit. You must buy or complete constructionof your replacement home within two year of the sale of your original property. Both the original home and new home must be your principal place of residence, and you must file your claim within three years following the purchase or construction of your replacement home.

Once you have and received this tax relief, neither you or your spouse who reside with you can ever file again.

Eligibilty requirements include:-

• At the date of transfer of the original property, the transferor (seller) must be at least 55 years of age. (If married, only one spouse must be at least 55, but must reside in the residence; if co-owner, only one co-owner must be atleast 55 and must reside in the residence.)
• The replacement property must be purchased or newly constructed on or after NOv.5, 1986. The replacement residence must be purchased or newly constructed within two years before or after the sale of the original residence.
• The sale of the original residence must qualify for reassessment.
• The principal claiment must have been (1) receiving, or eligible for , a Homeowner's Exemption or (2) have been receiving a Disabled Veteran's Exemption on the original and replacement residences.
• The replacement residence must be of "equal or lesser" in market value than the original residence.
• This is only one time filing. Proposition 60 relief cannot be granted if the claiment, or spouse, was granted relief in the past.

Contact your County Assessor's Office as well as Tax Accountant before making any decisions or taking legal action.                                                                              ( Courtesy of Fidelity national Title)

Thanks

Jyoti

Proposition 13 Defined: -

Passed by the voters in June, 1978, Proposition 13 substantially changed the taxation of real property in California. As a result of this Constitutional amendment:

• The maximum amount of property tax cannot exceed 1% of the property's assessed value, plus any bonds or fees approved by the voters.
• Real property can only be reappraised upon a change of ownership or new construction. Business personal property, including boats and airplanes, and certain restricted properties are subject to annual appraisal.
• Except for those two instances, no increase in the assessed value of any real property can exceed 2% annually, regardless of the rate of inflation unless the Assessor has previously granted a temporary reduction due to the market value decline.

How Proposition 13 benefit homeowners:

Whether you bought your home last month or have owned your home for twenty years, if you live in California, Proposition 13 is protecting you.

The first benefit is that even the most recent home-buyer pay 1/3 of the property taxes that they would without Proposition 13. The initiative simply keeps the general level of property taxation lower and fairer. Without Proposition 13, many new buyers could not afford both their mortgage payments and their taxes.

Proposition 13 also gives new homeowners long-term security by providing predictability in taxes. Property taxes are levied once a year. The tax "rate" is applied to the value of your home to determine your tax bill. Proposition 13 help you by limiting the maximum tax rate to 1%. If a home has a value of $250,000, the owner will see a tax bill of $2,500.

But what happens when the value of your property goes up? In other states, if the value of your home doubles, so does your property tax bill. But because of Proposition 13, here in California the taxable value of your home can go up 2% per year. Thanks to Proposition 13, new buyers know exactly what their taxes will be next year, in five years, and in 30 years - reassuring information for those who plan to live in their homes when they retire.

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Contact your County Assessor's Office as well as your Tax Accountant before making any decisions or taking legal action.                                                                                                                       ( Courtesy of Fidelity National Title.)

Jyoti Sandhun   510 872 8942

What should I blog about,, hmmmmmm

Thinking..... Can find... I recieved an email about what a real friend is ..

Let me post that..

A FRIEND is a tissue when you can't stop crying ←
→ A FRIEND is a shoulder when you feel like dying ←
→ A FRIEND always listens when you have something to say ←
→ A FRIEND is a week when you just need a day ←
→ A FRIEND is a crutch when you have a broken heart ←
→ A FRIEND is some glue when everything falls apart ←
→ A FRIEND is a sun when the rain just won't stop ←
→ A FRIEND is your mom when you run into a cop ←
→ A FRIEND is a phone call when you can't leave your home ←
→ A FRIEND is a hand when you feel all alone ←
→ A FRIEND is a wing if you want to fly ←
→ A FRIEND understands without knowing why ←
→ A FRIEND is an ear for a secret to tell ←
→ A FRIEND is an aspirin when your head hurts like hell ←
→ A FRIEND is a love that can never let go ←

A FRIEND Is YOU, & I Wanted YOU To Know recieved an email about what a friend is

isn't it true Defenition of a friend?

Are you Ready to Buy or Sell a Property?  

My Name is Jyoti Sandhu. I am committed to servicing my clients with the highest level of customer service and integrity. My goal is to provide you with professional, state of the art real estate services. I promise a positive, successful experience from start to finish.

Commonly, It is believed that all Real Estate agents are same it is not true. Every Realtor is different and has their strong and weak points. To be a successful Real Estate professional it is very important to be a People person. With my back ground in Sociology, I can understand the special needs and stresses my clients experience. Home buying and selling is a very emotional decision. With all my experience, you will achieve all your real estate goals. I will pay my undivided attention to the detailed requirements of buyers. As sellers, I will help you in establishing the best price, holding special open houses and advertising your property with personal attention. My clients attribute my success to high ethics, excellent work habits, honesty, accessibility and great people skills.

I always recommend sellers to interview at least three agents before you work with them, Let me be the last one and then decide whom you want to work with. Isn't it a fair deal?

So, if you are in the market to buy a house to live in, buy an investment property, or sell your property for top dollar to upgrade or downsize please call or email me for a confidential interview.

P.S: - I am never too busy for your friends and family's referrals.  

Jyoti sandhu

510 872 8942

Refinance or not to Refinance

Homeowner Refinance for so many different Reasons. Some of the basic reasons include: to reduce interest rates on their current mortgage, to pull equity to invest or make an extension to the house or to take care of some other personal needs. Some homeowners even refinance to reduce the term of the loan.

The question is one should refinance or not?  if refinance what are the important things one needs to look at:

1. What are your plans for future? Are you thinking about staying in the house for more than five years? Is it a wise decision to refinance? To answer to these questions can lead you to take an educated decision.
2. If you are moving within next five years, your cost to refinance will be much higher than what you are going to save by refinancing. Some time different mortgage companies advertise no closing cost refinance. Please be smart with these types of ads. There are always fees associated with refinances. They might not be called closing costs.
3. You also have to check if the lender is charging you any points to buy down the interest rate. If he is, you won't be able to deduct full amount from your taxes. IRS has different guidelines; it will be amortized over the period of the loan.
4.  You also have to check if there are any pre payment penalties on your previous loan, so if you are not staying in the house for long and you have a prepayment penalty, it will not be a wise decision to refinance under these circumstances. However, some times circumstances force you to refinance, make sure you negotiate with the lender to waive or reduce your prepayments penalties to reduce your costs.
5. Another thing you have to see before you refinance is your currents mortgage interest rate and the rate you will be getting on your new loan. If the new interest rate is higher than your current mortgage interest rate, you have to rethink about refinancing or not.
6. Do you have an adjustable interest rate or fixed, this is another important factor to consider. If the new interest rate is lower than your current adjustable rate and it is fixed for 30 years, you are in better condition to refinance. If you really have to refinance you should always try to do it with your current lender, it will be less time consuming. You have a good relation with your lender and it will put you in a better negotiating situation. Lender will always try work with you, as they do not want to loose a client.

                                             Refinancing is as important as if you are going for a new loan. So, be prepared and take all the important details in consideration. Wish you all the best. If you have any question about Real Estate, please feel free to call me or email me. I will try to answer all your questions or will get the answers for you.

Thanks

Jyoti sandhu

510 872 8942

I always enjoy working with people. Few days back I became a part of NOn Profit Organization Started by a group of Indian people, but not limited to just Indian community. It is known as Kala sarita Non Profit Organization. I am asking every one who is a small business owner to come and be a part of it.You can check us out on our website (under construction) http://www.kalasarita.com

If you can please donate what ever you can afford or call to place an ad in our free magazine. We will be lauchning a community magazine in beggining of sep,2007. Come and join us.I am attaching a flyer with this blog.Please take a look. You can become a member through the website or call me or email me.

510-872-8942

jsandhu14@yahoo.com

 Thanks for your considration

Jyoti Sandhu

Selling a house in this tough market is a challenging job. It is not challenging only for the Realtor but for the seller as well. Without sellers serious participation, it will become exceptionally difficult for a Real estate professional to do justice. Few of the simple acts of a seller to get house ready for sale will make the job lot easier.

Firstly, the far most important decision is to PRICE the house competitively. With the help of your Realtor, go through the comparative Market analysis to come up with competitive SALE PRICE.Along with good asking price, few more simple steps are listed here for your knowledge.

Having a few family pictures around is fine, but if your house is a "shrine" to your family--walls full of personal pictures--you should take some steps to depersonalize it. Buyers must be able to envision themselves in the house, which is nearly impossible if everywhere they turn they stare at you!

Make certain that your house is fresher, cleaner, and better maintained. Familiarize yourself with effective techniques. De-clutter the house to the best of your ability to make it presentable. A fresh coat of paint always improves the looks and smells fresh. Few scented candles will add freshness and beauty. Open all the windows few hours before the OPEN HOUSE.

Stand back and look at your house as objectively as possible. Would you buy this home? Ask friends and neighbors to do the same, asking them to be completely honest. Overlooking flaws could cost you money!  Getting them fixed before you put the house on the market FOR SALE will reduce your worries and put you in your best negotiating position.

An inspection will most likely uncover any major defects before they can cause trouble with a potential buyer. It also is a signal to buyers that you are a responsible seller.

Do your best to see the house, no longer as your home, but as a product to be marketed. This takes some work, especially if you have been in the home for a number of years and have many memories there, but it is necessary if you want to maximize your potential.

If you are thinking about buying, selling your property or just want to know, How much your house is worth in this market, Call me: (510)-872-8942 or email me at Jsandhu14@yahoo.com

This is not a solicitation for listing if you are already working with a Realtor.

My Name is Jyoti Sandhu. I am a Real Estate professional with Exit Valero Realty in East Bay region of California. My goal is my commitment to make your dreams a reality-whether you are a buyer who is looking for a dream home or a seller who wants to get the highest possible price for their property.

 I migrated to USA in 1994 and got my Real Estate License in 1997.I have a Masters degree in sociology. I am a total people person. With my background in sociology, I can understand the special needs and stresses my clients experience. My clients attribute my success to high ethics, excellent work habits, honesty, accessibility and great people skills.

With all my experience you will achieve all your real estate goals. I will pay my undivided attention to the detailed requirements of buyers. As sellers I will help you in establishing the best price, holding special open houses and advertising your property with personal attention.
Thanks for your time. Looking forward to meeting you soon. For a confidential interview for all your Real Estate needs, Please call me or email me.  jyoti14@sbcglobal.net

http://www.exitvalerorealty.com/jyoti                        

 Cell: - (510) 872-8942  

Off: (510) 233-5333 x 143

 Fax: - (510) 233-0380

Credit score affect every aspect of our financial lives including qualification for loans and mortgages, the interest rate we pay, employment opportunities and all the insurance premiums. Repairing your credit is one of the most important financial decisions you can make.

Major cause or bad credit could be any one or combination of few of these.

Late payments, collections, Identity theft / frauds, Inquiries, liens, foreclosures, repossessions and many more like that. It takes lots of hard work, research and of course, some expense. However, one can take few of these simple steps to improve their credit.

·        Always pay more than minimum due amount on all your payments, whether it is credit card accounts or mortgage payment.

·        Keep all your credit cards below 30% of their limit.

·        Call the collection agencies (if any) and make a deal, set up a payment plan that you can afford. Most collection agencies will be willing to talk and settle the account.

·        Check your credit report once a year. You can check it free at https://www.annualcreditreport.com  

once a year. If  you see some thing that should not be on your credit report. Do call all three bureaus to report the mistake.

·        Do not apply for too many credit cards. Every time credit card company run your credit it drops your credit score.

I hope these simple steps will help you improve your credit to some extent.

Wish you all the best.

Your Realtor Buddy                       

Jyoti sandhu

Exit Valero Realty

Jsandhu14@yahoo.com

510 872 8942

P.S: - If you know anybody who is thinking about selling or buying a property, Please do not keep me a secret. I am never too busy for your referrals.