Real Estate - Mony Nop - Mony Nop Real Estate Team

September 2023 Highlights

Client Success Story

Taking Advantage of Proposition 19

Proposition 19 – The Home Protection for Seniors, Severely Disabled, Families, and Victims of Wildfire or Natural Disasters Act

A few months ago, our team helped a client sell their home in Livermore in order to buy a new home in the Sacramento area. Our clients bought their home years ago at the original purchase price of $330,000. After 6 days on the market, we successfully sold their home for $1,200,000. Shortly after, our client was able to achieve their goal of finding their next home in the Sacramento area and bought at $1,400,000.

As in this client story, they utilized Proposition 19 to transfer their property tax base and homeowners can do so up to 3 times after the age of 55. However, the caveat is that you must purchase another home at the same (or higher) sold price of your previously sold home. Here's how it played out for our clients: 

Purchase Price (Livermore Home): $330,000
Sold Price (Livermore Home): $1,200,000

Purchase Price (Sacramento Home): $1,400,000
Property Tax Base (Sacramento Home): $530,000 

WHAT?! How did they get that property tax base of $530,000 on a $1,400,000 home? 

Original Purchase Price + Difference of Price between Old Home & New Home = New Property Tax Base

($330,000 + $200,000 = $530,000) - Simple Math! 

Instead of paying a new property tax base on the purchase price of $1,400,000, which would be at $15,400 yearly, their new property tax base at $530,000 will only be $5830. That’s a savings of $9,570 yearly.

Wish to discuss if Prop 19 can work for you? 
We would be happy to connect you with our trusted advisors. 

Contact me today

Community Matters

Elvis of Cambodia Film Premiere connects the community with the history of Cambodia's Golden Era of Music

Thank you to our family, friends and community members for showing up in full force on a Tuesday night for the Elvis of Cambodia film premiere! Over 300 attendees came out to learn about Cambodia's rich cultural music and the legacy of Sinn Sisamouth who remains to be an icon of Cambodian music today. The Bankhead Theater welcomed community members from all over Northern California who came to see the documentary film and got a chance to get on their feet and dance to the music of Cambodian-American music artist, Jay Chan during his tribute to Sinn Sisamouth as a sendoff! 

We are especially appreciative of the Center for Empowering Refugees and Immigrants for arranging a bus to transport 100 elders and youth from the Cambodian-American community in Oakland so that they could be a part of this special event. The arts is a powerful connector that transcends across cultural and generational lines.

Check out more photos from 
Elvis of Cambodia Film Premiere

Photo Credit: Kristin Cofer Photography

View Photos

An Evening Under the Stars with CityServe of the Tri-Valley

We are pleased to host CityServe of the Tri-Valley for an "Evening Under the Stars" on Thursday, October 19th from 5 PM to 7 PM in Livermore. Learn more about all of the impactful work that CityServe provides in caring for the Tri-Valley's most vulnerable in securing needed services with compassion and dignity. 

100% of all ticket sales will directly support CityServe's work and we look forward to welcoming you! 

Get Tickets

TVNPA Members Mixer  - 9/21/2023

As September comes to an end, we were delighted to host our friends of the Tri-Valley Nonprofit Alliance and its inspiring members for a casual mixer in our backyard. 

As our world continues to change with changing needs, it is imperative that we support our local nonprofit organizations in their selfless work to continue delivering impact to our most vulnerable and at-risk community members. 

Please join the next TVNPA event "Bridging the Gap" with the TVNPA Anti-Poverty Collaborative to learn how we can address the inequities and disparities that exist in the Tri-Valley. 

Real Estate 
Market Matters

Top of Mind

Homebuying Demand Slightly Increases : Still grappling with reduced affordability as rates remain above 7%, the market saw a slight increase in September 

Housing Inventory & Sales Pick Up: The California Association of Realtors 2024 forecast shows that sales will pick up as more inventory becomes available on the market. We've been seeing that buyers and sellers are negotiating more to make the transaction work as competitive measures used may have eased a bit. 

Market softens slightly ahead of Winter: The latest data does not project home sales to drop as it did last Winter 2022, however we see a slight decrease in homes selling above their asking price. The market is definitely exhibiting low inventory, but as homebuying season may slow down, homes are taking slightly longer to go pending and buyers/sellers are willing to negotiate more. 

Buying & Selling

COMING SOON

west dublin

7336 Las Palmas Way

4 BD | 2.5 BA | 2,445 SF | 10,911 LOT |  $1,799,900
Coming on Market: Wed, 10/11/2023

Representing Sellers - Mony Nop & Sophie Mao
Beautifully maintained two-story home in cul-de-sac in West Dublin

IN CONTRACT

Livermore

972 Florence Road

4 BD | 2 BA | 2,128 SF | 6,969 LOT |  $1,199,777
Pending Sale on 8/31/2023

Representing Buyers - Mony Nop
Leveraged deep relationships to secure this off-market property 

SOLD

san diego

1480 Broadway #2210

2 BD | 2 BA | 1,095 SF |  |  $699,000
Sold on 9/18/2023

Representing Seller - Nafisa Lillie
Representing Buyer - Mony Nop 
Beautiful corner unit condo in the heart of Downtown San Diego

Thank you for allowing us to share with you each month and we hope that you find the information valuable. Please reach out if we can be of service.

Mony Nop

REALTOR® | DRE# 01813021
M: 925.575.1602
mony@monynop.com
www.monynop.com

Sophaline (Sophie) Mao

REALTOR® | DRE# 02181753
M: 209.420.0287
sophie@monynop.com
www.monynop.com

Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.