See rule one: Location, Location, Location.... it is all very area specific but the trend is that the market is very lean and rents and values are going up due to very few properties available, many multiple offers, that are not short sales. That being said appraisals and qualifying are stricter. If you are looking in Riverside County it is also influenced by the cost to commute to LA/OC due to gas prices.... more
Witty:
The determination of assessed value is not tied to an Appraisal (unless of course it’s part of a successful Prop 8 challenge).
The process of assessed value increases and reductions are covered in this blog post:
"Estimating Property Taxes in CA"
http://www.trulia.com/blog/steve_ornellas_mba_re_mastersgri/2010/05/estimating_property_taxes
“Note that each year the Assessor compares the factored Prop 13 base year value to the current year Jan 1 market value after applying the California State Board of Equalization CA Consumer Price Index increase and uses the LESSER of the two figures.”
-Steve... more
Why buy rental homes in a bad market? This is the best time to purchase rental property. Prices are down and interest rates are low. If financially possible you should be purchasing as much Real Estate
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According to a recent article in the San Francisco Chronicle and well known website RealtyTrac banks may seize more than 1 million U.S. homes this year after legal scrutiny of their foreclosure practices
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“What’s New” According to the Wall Street Journal there are 5 main issues that will be affecting the housing market for 2012. Confidence and jobs: Housing is more affordable than it has been
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First time home buyers face a number of challenges in their quest to make that big move from renter to first time home owner. More than 70% of Americans say that owning a home is still a good investment
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Hello Shelly,
If you live in the Wood Streets, you should already be getting a copy of the WOOD STREETS SHEET on your door each month. The sales posted there are true and actual: you can compare basic information and price to your home. If you had followed those sales over the last couple of years, you would see that while some people perceive some streets to be more 'valuable' in the neighborhood, the actual 'sold' prices per square foot at any price range are randomly scattered throughout the entire neighborhood. Please don't feel you have to live on one of three streets for your home to have value, possibly exceptional value. Rosemary and I have lived in the Wood Streets for 30 years this year; We'd live on most of the streets here quite comfortably.
Have a GREAT day and contact us if we can help you. Rosemary and Larry... more
Jerry,
Currently it is difficult for a home buyer to find the property tax rate on the county tax assessors site. However your agent can help you with that as the MLS has a tool for agents to access it. If there was a place I could send you to find it on your own I would in a heartbeat.
Harold Sharpe - Broker
So Cal Homes Realty
(951) 821-8211
harold@canyonlakecaliforniahomes.net
www.canyonlakecaliforniahomes.net
California Department of Real Estate Broker License # 01312992... more
Riverside CA Real Estate House Sales and Home Listings - Short Sales, Foreclosures and Standard Sales - June 2011 Market Report News This is a market activity report of closed house sales and active home
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As the population ages and questions continue about reverse mortgages here's some info you should find helpful:Should You Go Forward With a Reverse Mortgage? By: Dona DeZube Published: June 29, 2011
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Is this just a one time need for info or are you just keeping up with prices? It's pretty easy to get on a list to receive these automatically for free. Best of luck.
There is NO best time! LOL Because as soon as you do... a great deal will show up just after you have closed! What you need to think about is; Is this just an investment, if so, what39;s the least amount of return on my money I'm willing to accept. Or, if this will be your primary residence... how long do you plan to stay? There is something about having "roots" in where you stay. Good luck.... more
Below is a chart of historic sales and price ranges for the city of Riverside CA spanning through 2010 and 2011. This Riverside graph is provided by the Southern California MLS and found only through
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I invest in southwest riverside (temecula, Murrieta) for the following reasons. Excellent , long term tenants due to the great schools and low crime. Property values dropped 60% from the high a few years back. 30 minute drive to north san diego so Many people commute. They can buy a 3-4 bedroom house here vs a 2-3 bedroom condo in San diego. Many cash flow positive properties available.
In my experience, you get tenants very quickly near colleges, but they don't care fo the properties like a family who wants to live in a place long term. Some of my tenants plant flowers, maintain landscaping, etc. and have been there for years.
Just a thought. 3-4 bedroom house 190K-220K rents for 1500-1800. Many homes are less than 10 years old too.
Thanks for reading!... more
Zillow just put out a new report showing home values across the nation have dropped 2.6%. According to Zillow, this is the largest quarterly decline in home values since the first quarter of 2009. The
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Hi Idezynit,
The following blog post covers the steps of determining how tax assesors arrive at their total tax levy (the specific property you are considering can make a big difference): http://www.trulia.com/blog/steve_ornellas_mba_re_mastersgri/2010/05/estimating_property_taxes
Best, Steve... more
My fellow agent and friend Jane says it well. If you are wanting to nail something down, give her or me a call and lets get your Real Estate search underway........This is a very good time to buy and sell..........
Best... more
John:
Stay head of this agressive market by finding, choosing, and then working with an agent who will help you move fast and nail down a good investment during these opportune times....Remember, the seller pays the commission in most cases......good luck... more
Ed Says:
"The area you are questioning on Massachusetts is a fair area. A lot of the bad runs over to the good though. If I were you, I would spend a little more and check out the Canyon Crest area, which is south from UCR. The area is much nicer and right now it’s not a whole lot more expensive. I am not sure if your son will have a car or not, as Canyon Crest to UCR is about 2 miles. If you would like for me to send you a list of condo’s in the area, drop me an email or phone call."
Gee, that sounds suspiciously like "steering" to me. And the "rift raft" sound like code for something else. I'd be very careful if I were you Ed.... more