Rose  213 369 9171
Terry 323 854 4607

Probate, Investment & Foreclosure properties

Our clients are often looking to purchase properties through Bank Foreclosures, Probate Court, Auctions, FHA and Trust Sales. These are all good alternatives to aquire distressed or below market value properties other than through conventional means. These types of sales can take a bit of navigating through the various rules and requirements and you need to know what to expect and be prepared so you won’t lose that great property once you find it . If you want to know more about how purchase a Probate, Find Foreclosures or Qualify for 3% down payment through FHA, call us and you can be confident that we will answer any of your questions and help you through the entire process. Our satisfied clients have saved thousands through our expert guidance, you can too.

CALL US for a List of current Probate Investment or Foreclosure properties – Probate Attorneys

We can Handle Your Probate, Trust & Bankruptcy Sale Properties.
Referrals are the foundation of our success and attracting new clients keeps our business growing. We invite to you to use our premiere real estate services. We are Rose Ware & Terry Canfield, Estate & Architectural Directors with Prudential California Realty ranked in the top 1% for real estate sales out of all real Prudential agents nationwide. We have sold numerous probate properties in Los Angeles throughout our 20 years as Realtors and our dedication and attention to every facet of the probate transaction has benefited many estates in aquiring the best value for their properties.

With our service you will receive the extensive marketing of the #1 Independently Owned Real Estate Company in the U.S.: Prudential California Realty. With our 35 years of Marketing and Public Relations experience, we provide an individually personalized Marketing Campaign for every property we represent, targeted to obtain the most response and the highest offers to bring to court.

Enclosed in our website for your review is a brief synopsis of our Marketing as well as our Personal Sales Achievements and References. We also assist in locating contractors for the repairs and preparation of the home, i.e.: painters, gardeners and clean-up crews and will assess a staging strategy and consultation. This extra attention has benefited numerous estates.

You can feel confident entrusting us with the sale of any home. We are dedicated to providing consistent, innovative and dependable service. Thank you in advance for your time and consideration. Please let us know if we can answer any questions or help in any way. We would be happy to provide you our list of recent client references and testimonials. We can be reached at the numbers above or e-mail us

Listed here are highlights of some of the current tax laws affecting Homeowners, Seniors & Investors. For a better idea of how they may affect your personal situation, you should always consult your accountant or attorney.

Highlights of the Capital Gains Exclusion

    • Applies to any homeowner who sells a home in California
    • Can be as much as $500,000, for some joint returns
    • allows a $250,000 exclusion of capital gains from the sale of the property
    • homeowner must have lived in the home for 2 of the previous 5 years
    • home must have been homeowners primary residence
    • can include single family dwelling, a duplex, condominium, a mobile home,
      house trailer or a cooperative apartment
    • exclusion may only be applied to one sale or exchange every 2 years
    • exclusion can be applied to the property of a deceased spouse
    • exclusion can be applied to the property of a former spouse in a divorce
    • can be applied if one spouse is hospitalized or in a licensed residental care facility,
      if the homeowner has lived in the home for at least one year

can be applied if the homeowner is forced to sell because of health reasons,
change in employment or unforeseen circumstances

Proposition 13

  • property taxes based on 1% of purchase price
  • annual increases no more than 2%

Proposition 60 

  • allows homeowners to transfer Prop. 13 property tax base to new home purchase
  • either spouse or homeowner must be 55 years or older
  • replacement dwelling must be of equal or lesser value to original property
  • replacement dwelling must be purchased within 2 years of sale of original property
  • old and new homes must be primary residence
  • can apply to new home construction

Proposition 90

  • allows homeowners to transfer Prop. 13 property tax base to new home purchase
    in many other California counties
  • either spouse or homeowner must be 55 years or older
  • replacement dwelling must be of equal or lesser value to original property
  • replacement dwelling must be purchased within 2 years of sale of original property
  • old and new homes must be primary residence
  • can apply to new home construction

Proposition 13

In June of 1978, the Jarvis-Gann initiative called Proposition 13, was passed by two-thirds of the California voters, in response to property tax increases, which were causing many to lose their homes because they were not able to pay the annual property tax increases that in some cases amounted to 100% in one year.

Proposition 13 established an acquisition-value assessment system that provided that property was to be assessed at its purchase price when acquired through a change of ownership or by new construction. Thereafter, the taxable value of property could only be increased annually by no more than the rate of inflation or two percent, whichever was less.

Prior to Proposition 13, the tax rate throughout California averaged 3% of market value, and there were no limits on increases either for the tax rate or property value assessments. Some properties were reassessed 50% to 100% in just one year and their owners tax bills jumped correspondingly.

Under the tax cut measure, property tax valuations were set at the 1976 assessed value. Property tax increases on any given property were limited to no more than 2% a year as long as the property was not sold. Once sold, the property was reassessed at 1% of the new market value with a 2% yearly cap placed on any new assessments.

Proposition 60

Under the provisions of Proposition 13 in California, the value of a home for property tax purposes is reassessed to the purchase price whenever a change in ownership takes place. Thus, when a California homeowner purchases a new home, the property taxes on this home are based on its purchase price.

Proposition 60 was an amendment to the California Constitution approved by the voters in November of 1986, and provided property tax relief for persons over 55 years of age, who sell their home and move to a new home and may be subject to higher property taxes as a result of the move.

The Proposition 60 exemption allows the transfer of the existing Proposition 13 assessed value, used to calculate property taxes, from a former residence to a replacement residence of equal or lesser value that is located within the same county. Thus, if the property taxes on the old home were $1000 a year, then the property taxes on the new home remain the same, if all the exemption conditions are met.
The replacement dwelling must be purchased or newly constructed within two years of the sale of the original property and the replacement dwelling must be used as a principal residence by the person who sells the original property.

Proposition 90

Another similar exemption allows homeowners, age 55 and over, to buy a new residence in another county and avoid the property tax reassessment. To further the ability of California homeowners to transfer their assessed values to their new residences, voters passed Proposition 90. This proposition allows a homeowner to transfer the assessed value of their old principal residence to their new residence located in a different county if that county has elected to participate in the Proposition 90 program.

Under this law, a county’s board of supervisors can elect to have their county be a qualified participating county. All of the requirements discussed for Proposition 60 must still be met to qualify for this exemption.

The following counties have elected to participate in this program: Alameda, Los Angeles, Monterey, Santa Clara, San Mateo, Kern, Modoc, Orange, San Diego and Ventura counties. Counties can opt out of the plan, so you should check with the assessor for the county in which you are planning to purchase your property to see if they participate.

To qualify for these property tax exemptions, a homeowner must provide evidence that they are at least 55 years old, meet the conditions of the exemptions and complete a required claim form with the county assessor.

We are sure that you have more questions. We are available at your convenience Rose 213 369 9171 or Terry 323 854  4607

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