PORTOLA HILLS LIVING by Kelly Turbeville

The new year always brings New Real Estate Laws, 2021 was no exception.  There were 4 laws that homeowners, home buyers, investors and tenants should be aware of.  As well, if you are hiring a Real Estate Agent to represent you, they absolutely should have extensive knowledge on these new laws.   Proposition 19 (Statewide Tax Basis Portability) With the passage of Proposition 19, a homeowner who is 55 years of age or older, severely disabled or whose home has been substantially damaged by wildfire or natural disaster may transfer the taxable value of their primary residence to: •    A replacement primary residence •    Anywhere in the state •    Regardless of the value of the replacement primary residence (with adjustments if "greater" in value) •    Within two years of the sale •    Up to three times (but without limitation for those whose houses were destroyed by fire) Proposition 19 will supersede the old rules which limited this exemption to the sale and purchase of a pri

I am pleased to announce that after careful consideration, I will be offering a new service Mortgage Review for my clients. Throughout the past year, I have been asked by our valuable clients on what is the best move with their mortgage and have been happy to provide directions. With the current market conditions the number of short sales and foreclosures have increased and this makes me sad. I hate seeing the first response this crises, I guess we will need short sales or foreclose or the feeling of frustration when you call your lender and get no help. So in response I have decided to include as one of my services the option of Loan Modification and have aligned my self with a company who has great success in just that. Our goal is to save your home ! If you currently have negative equity, worried about your loan being reset, see trouble on the horizon and would like to KEEP YOUR HOME, then we may be able to help. As always my goal and service pledge is to understand your