As cities and states deal with declining real estate values and rising rates of foreclosure, at least we have the future to look forward to and its promise of prosperity and a better tomorrow. Or can we? Some of the projections I have been reading do not anticipate the housing market staging a turnaround until late 2009 or well into 2010. Once the market does begin to turn, it will be very gradual and probably be a non event. The reason is that the likely rate of appreciation could easily be … [Read more...]
Will Real Estate Find its Mojo?
May 26, 2008 By Leave a Comment
Mother nature unleashes its fury in the form of forest fires, tornados, hurricanes and earthquakes. Certain things can be done to minimize the damage and reduce the risk of destruction. However the extent to which you may suffer a loss is beyond your control. To a lesser degree, an economic disaster is occurring in the real estate market. Again, how you prepared yourself will determine the extent of your financial injury. In the current economic cycle, California is in the destructive path … [Read more...]
Is It Time to Amend Prop 13? – The Real Estate Property Tax
January 2, 2008 By 4 Comments
Prop 13 was passed in 1978 as a means to thwart increasing property taxes that were a result of rising property values. It limited the tax to 1% of the assessed value of the property and limits the increase in assessed valuation to 2%. Proponents of Prop 13 claim that this is a fair tax since it is based upon acquisition value and not the ups and downs of the real estate market. Also they argue that purchasing a new property is an indirect approval of the property taxes that coincide with it, … [Read more...]
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