Who Are the Seniors Real Estate Specialists®? Seniors Real Estate Specialists® are REALTORS® qualified to address the needs of home buyers and sellers age 50+. The SRES® Council awards the SRES® Designation to those members who have successfully completed its education program. By earning the SRES® designation, your REALTOR® has demonstrated necessary knowledge and expertise to counsel clients age 50-plus through major financial and lifestyle transitions involved in relocating, refinancing, or selling the family home. Your REALTOR® has received special training, gets regular updates, and is prepared to offer the options and information needed in making life changing decisions. Using an SRES® designee helped us in our home buying and selling experience. How Can a Seniors Real Estate Specialist® Help ME?                                                                                                                                          An SRES® designee can help you make wise decisions about selling the family home, financing, buying rental property, or managing the capital gains and tax implications of owning real estate, among many other issues. In addition to guiding clients to the right experts on tax laws, probate, estate planning, and a variety of equity conversion strategies, Seniors Real Estate Specialists® can offer clients relevant information on current trends in senior real estate transactions. The SRES® Designation instills  the knowledge and understanding of, and empathy for, 50+ real estate clients and customers, while developing the business building skills and resources needed for specialization in the 50-plus real estate market. Your SRES Designee has: learned the application of federal laws for Housing for Older Persons Act (HOPA). adopted methods for counseling the 50+ buyer and sellers committed his/herself to focus on the transaction and avoid inappropriate involvement in family matters developed sensitivities to 50+ issues on priorities when counseling buyers and sellers, showing properties, and managing transactions established reputable services that win and sustain client and customer relationships and position his/herself as a trusted real estate advisor assembled a team of experts to help serve 50+ clients and customers been educated on the uses, benefits, procedures, and issues involved in reverse mortgages learned about the uses of pensions, 401k accounts, and IRAs in real estate transactions gained an understanding of how Medicare, Medicaid, and Social Security impact 50+ real estate decisions the ability to help clients integrate disposition of real property into estate plans the knowledge to recognize mortgage finance and loan schemes and scams that victimize 50+ borrowers   Why Use SRES®? A Seniors Real Estate Specialist® is experienced and knowledgeable in meeting your specific needs. And that can make all the difference in the world. As we age, we demand specialists in our health needs, so why not in our housing and equity needs as well? An SRES brings: A customized approach to your situation; an SRES works with how your living situation fits into your overall plan. Expertise and patience without condescension. An awareness of options and solid, reliable referrals for specific situations to explore those options. A variety of choices to reduce out of pocket expenses, gain cash, or create or defer income streams to either stay independent or finance assistance.

I received my Seniors Real Estate Specialist Designation in 2004. I wanted to learn as much as I could about  what Special programs , housing and opportunities were available in my community and on a national lel. As I think of my own family, This work is dear to my heart in working with this ever growing population. Predictions are such that in the year 2020 there could be 1 million seniors reaching the age of 100. Our times are changing and it is important to know what our community has to offer the families whose parents are living longer, options and some great benefits for the many folks that may be moving after many years and are looking to retire on a set income. As a SRES I have specialized knowledge and expertise to counsel my Active 55 and senior clients through major financial and lifestyle transitions involving  relocating, refinancing, or selling the family home. I have received special training,  I get regular updates, and am prepared to offer the options and information needed in making life changing decisions. 

An I cannot give legal or tax advice. However, I maintain referral relationships with accountants and real estate attorneys so I can refer my clients to those professionals as needed.
 
If someone is entering into a real estate transaction at an older age, its for an important reason - they lost a spouse or they need to downsize-It is important to have a great deal of compassion, patience and build a trusting relationship as  you professionally guide them through this difficult time.

Another comment I often receive is,"We havent had to buy or sell for 45 years, and now, all of a sudden, we have to deal with all the new laws and red tape."  When they bought their house, the contract may have been one page long. Now, its about 18 pages."

While help with navigating the paperwork is one of the benefits seniors can realize with a trained SRES Realtor, another is finding out about recent laws and options that apply to seniors that might not apply to other property owners.

I look forward to speaking with you further, Please feel free to contact me with any questions, or if you'd like me to stop by and help you evaluate your home. It would  be my pleasure in serving you.   

                                                                     


         Seniors  Resource Network Center




Here are just a few links to local and national services and Senior networks.
This will be constantly being added to so please check back with me.

                                     

Senior Citizen's Replacement Dwelling Benefit

Propositions 60 and 90 1

In most cases, these constitutional tax initiatives allow senior citizens to transfer the trended base value from their current home to a replacement property if certain requirements are met. This may result in substantial tax savings.

Who Qualifies?

If you or your spouse that resides 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 trended base value to your new property. This is a one-time only benefit. You must buy or complete construction of your replacement home within two years of the sale of the original property. Both the original home and the 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 filed and received this tax relief, neither you nor your spouse who resides with you can ever file again.

Eligibility Requirements:

The replacement property must be your principal residence and must be eligible for the Homeowners´ Exemption or Disabled Veterans' Exemption. The replacement property must be of equal or lesser "current market value" than the original property. The "equal or lesser" test is applied to the entire replacement residence, even if the owner of the original property acquires only a partial interest in the replacement residence. Owners of two qualifying original residences may not combine the values of those properties in order to qualify for a Proposition 60 base-year transfer to a replacement residence of greater value than the more valuable of the two original residences. The replacement property must be purchased or built within two years (before or after) of the sale of the original property. Your original property must have been eligible for the Homeowners´ or Disabled Veterans´ Exemption. You, or a spouse residing with you, must have been at least 55 years of age when the original property was sold.

Frequently Asked Questions

Q. What is the difference between Proposition 60 and Proposition 90? A. Proposition 60 relates to transfers within the same county (intra-county). Proposition 90 relates to transfers of base value from one county to another county in California (inter-county).

Q. If I qualify for Proposition 60/90 benefits, do I still need to file for a Homeowners´ Exemption on the replacement property? A. Yes. Homeowners´ Exemptions are not granted automatically.

Q. What is the Proposition 60/90 filing deadline? A. You must file your claim within three years following the purchase or completion of new construction of the replacement home.

Q. My original home is located outside Los Angeles County, but my replacement home is in Los Angeles County. Do I qualify for relief? A. Yes.

Q. I plan to relocate from Los Angeles County to another county. Do I qualify for relief? A. You may qualify for relief. As of November 5, 2004, the following counties in California have an ordinance enabling Proposition 90: Alameda   Orange   San Mateo   Ventura   Los Angeles   San Diego   Santa Clara Since the counties indicated above are subject to change, we recommend contacting the county to which you wish to move to verify Proposition 90 eligibility.

Q. Do all replacement homes qualify? A. If you meet all other eligibility requirements, relief is granted for a single family residence, condominium, unit in planned development, cooperative housing, community apartment, mobile home subject to local real property tax, and living unit within a larger structure consisting of both residential and non-residential accommodations.

Q. If I make an improvement to my replacement home within two years of purchase, can I get additional tax relief for the new construction? A. Yes, as long as the total amount of your purchase and the new construction does not exceed the market value of the original property at the time of the sale.

Q. What does "equal or lesser value" of a replacement property mean? A. The meaning of "equal or lesser value" depends on when you purchase the replacement property. In general, equal or lesser value means: 100% or less of the market value of the original property if a replacement property were purchased or newly constructed before the sale of the original property, or 105% or less of the market value of the original property if a replacement property were purchased or newly constructed within the first year after the sale of the original property, or 110% or less of the market value of the original property if a replacement property were purchased or newly constructed within the second year after the sale of the original property. When making the "equal or lesser value" test, it is important to understand that the market value of a property is not necessarily the same as the sale or purchase price. The Assessor will determine the market value of each property. If the market value of your replacement dwelling exceeds the "equal or lesser value" test, no relief is available. It is "all or nothing" with no partial benefits granted.

Q. Can I give my original home to my son or daughter and still get Proposition 60/90 benefits when I purchase a replacement property? A. No. An original property must be sold and subject to reappraisal at full market value.

Q. If an original property has multiple owners, can Proposition 60/90 tax relief be split? A. No. The co-owners must determine between themselves which one will get the benefit. Only one original owner can claim Proposition 60/90 tax relief.

How Do I File for Proposition 60/90 Tax Relief?

Claim forms are available from several sources. Choose the most convenient for you. Online: Forms are available from the Assessor´s website: assessor.lacounty.gov Email: Send us an email to helpdesk@assessor.lacounty.gov Phone: Call 213.893.1239 Claim forms may also be requested by mail or in person at any of our offices.

What Form Do I Need?

Claim of Person(s) at Least 55 Years of Age for Transfer of Base Year Value to Replacement Dwelling (BOE-60-AH/OWN-89) .

1 For expanded definitions of Propositions 60 and 90, see Revenue and Taxation (R & T) Code Section 69.5. It is available online at www.boetaxes.ca.gov/property.

Pasadena Senior Center Home Page

www.heartandsoulweb.com  Short time Care and Errand Service

Helps seniors live meaningful lives of dignity, enjoyment and useful purpose. Activities, resources, and general information. www.pasadenaseniorcenter.org

Home - Staff & Board - FAQs - Events - City Links - Contact Committees - Benefits - Directory - Happenings - Application

City of South Pasadena: Senior Center

The Senior Center is a full-service community center available for individuals 55 ... City of South Pasadena 1414 Mission Street * South Pasadena CA 91030 ... www.ci.south-Pasadena.ca.us/seniorcenter/index.html

Guide to Finding Senior Centers by Using the Internet

91046 Glendale Sparr Heights MSC & Glendale Senior Center. 91101, 91103, 91104, 91105, 91106, 91107 Pasadena MSC. 91108 San Marino ... www.la4seniors.com/los_angeles_senior_centers.htm

http://www.parkmarino.com/home.htm,

Senior Pasadena
A beautifully modern, premier
assisted living community.
KirkwoodGlendale.com

Here are some Resouces for assisted living facilities in the United States.

Senior Outlook
Find the Perfect Senior Housing
Options. Research Communities Today
www.SeniorOutlook.com

http://www.aplaceformom.com

Assisted Living INFO - The Nationwide Assisted Living and Senior ...

Sierra Madre  Seniors information;
http://www.cityofsierramadre.com/index.php?mod=senior_services

      Los Angeles Assessors Office
http://assessor.lacounty.gov/extranet/default.aspx


          I look forward to servicing your family with any of their Real Estate needs.

 Sincerely,

Teri Barton
homesbyterib@gmail.com
626.695.9179