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Home Buying in Piedmont : Real Estate Advice

  • All35
  • Local Info6
  • Home Buying11
  • Home Selling3
  • Market Conditions4

Activity 9
Sat Nov 8, 2014
John Westrich answered:
You may also wish to look up home advisor.com. you will get contractors who are rated by previous customers.
0 votes 6 answers Share Flag
Thu Jun 12, 2014
Maureen Kennedy answered:
Average annual property taxes on a home purchase in Piedmont are about 1.5% of purchase price. This includes the state wide 1% prop 13 tax, a number of local GO bond taxes (library, regional parks, 911 service, east bay MUD, etc) and then several parcel taxes unique to Piedmont--City services, and schools. These are levied at a flat rate, based on parcel rather than property value, so if you purchased a $5 million home your average property tax might be only 1.35%.

Piedmont property taxes are a tad higher on a percentage basis, than Berkeley and Oakland. Property values are higher as well so of course the tax bill will be disproportionately higher.

If you were talking about transfer taxes at the time of purchase, Piedmont charges 13/1000 (1.3 percent), divided evenly between Buyer and seller. So for your hypothetical million dollar purchase, you would pay $6500 in transfer taxes in Piedmont, but $7500 in both Berkeley and Oakland.
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Thu Mar 6, 2014
Lorrie Finkel answered:
I am so sorry I had forgot that I was writing on Trulia.So much depends on your life style and long term goals. Many people like me choose to vstay and live here because. It's a small community and. Safer .
Please e. Mail and I would be happy to speak with you .Current our inventory is very low. and you might very well. Prepared. Up to 300,000 over .This. Is. my neighborhood personally and professionally .
My. E mail Lorriefinkel@gmail.com .
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Wed Nov 13, 2013
Annette Lawrence answered:
Cath,
Are you a shopper or a buyer?
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Buyers will appreciate the low acitvity meaning less competition and a more serious consideration of any offer received by the seller.
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Shoppers always think a better house is going to be published tomorrow and they don't buy that one either.
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Still other SERIOUS buyers avoid both groups and enjoy the benefits of membership and are able to see homes BEFORE they are on the market.
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Which is better for you depends on your motivation for buying.
Here in Florida, December has proven to consistantly be a record breaker for sales volume. Buyers who can see through the tinsel would be mistaken to abandon their search because of the holidays.

Best of success to you,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
727.420.4041
Move to the Front of the Line
(http://FirstLookHomes.us)
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Sat Sep 28, 2013
Lex & Nikki #TheCalAgents answered:
I bought a house condemned by the city of Piedmont myself for $510k and renovated it so it's worth $1.38M now with $300k of renovation loan. Fixers like that can also be torn down and rebuilt. I personally presented the design of my house at the hearing and got it approved.

It's usually easier to buy fixer and then rebuild than getting a new design approved on a vacant lot because neighbors are tired of the eyesore. They are more cooperative if there is already a fixer there.

I had another vacant lot in the Oakmore area of Oakland. The neighbors put up a big fight against my application to build a new house there. They want it to remain vacant so it's a free open space for the neighborhood. The level of cooperation you get from the neighbors differ hugely depending on what is existing there.

Let me know if you want to know more about development. I developed over two dozen projects in the last 3 years in the east bay.
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Fri Mar 1, 2013
Maureen Kennedy answered:
We were all in Alameda at the soccer games!
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Wed Jan 18, 2012
Tomi Thomas answered:
You have some great answers below, excepting the out of town folks who are underestimating based on state statistics. Generally, 1.4 percent will give you a reasonable average, but it's hard to factor the special assessments that may apply until you have a specific property in mind. Nothing is more annoying in real estate that finding out later that the number is higher than what you estimated. I often suggest that my buyers round up to 1.5 percent to estimate taxes for Piedmont, and then when we get the actual number, it will come in at least slightly less, providing a smidge of relief.... ... more
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Wed Jan 18, 2012
Tomi Thomas answered:
I respectfully disagree with many of the answers below. 10 and 11 can be quite different, both in terms of value and character of the homes. Both zips cover a range of areas, but generally speaking there is not much similar between 10 and 11 - they are very, very different areas. 10 covers Rockridge and Piedmont, which are quite different from one another. Both upscale and generally considered desirable, but very different schools, sizes of homes and scale. 11 covers much of Montclair, which was developed in an entirely different era, and has a different geological makeup. 11 also covers part of the area affected by the Oakland fire, which devastated acres of housing stock that was largely replaced/rebuilt new in the early 90's. If you are looking for a modest Craftsman that is walking distance to amenities, with sidewalks and good schools, you are looking in 10. If you are looking for grand Craftsman or traditional homes and great schools, you are looking at Piedmont. If you want a Sierra Foothills feeling, with trees and nature, you are looking in the 11'a. If you want a McMansion, newer construction, toney upscale feeling with views...you get my drift. So, it's not just the zipcode, it's the micro market within the zipcode. ... more
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Sun Nov 6, 2011
Kyle Quesnoy answered:
I've lived in Piedmont most of my life and am very familiar with home value trends. That said, if your lender requires 25% down, you may ask the seller if they are willing to carry back a second deed of trust for the remaining 25%. Sellers in Piedmont, for the most part, are financially secure and would likely not have a problem with this arrangement. After all, they will be making a profit off the interest you'd be paying them on the carry back loan. Sellers in Piedmont are primarily concerned with escaping the high special assessment taxes they must pay to fund the excellent schools and recreation facilities. Once their kids have graduated from high school there is no reason for them to stick around piedmont when they can have twice the house for 75% of the selling price of their Piedmont home if they move almost anywhere else in the Bay Area or California.

If you'd like to speak with an expert who can explain in more depth your available options, you can always contact our in-house mortgage consultant. She is amazing. Here is her info:

Angela Erves
Branch Manager/Mortgage Consultant
TheHomeLoanGroup
51 Moraga Way, Suite #1, Orinda, CA 94563
Phone: 925.253.5423 | Cell: 510.812.2109 | Fax: 925.886.8671
CA DRE License # 01197777 | NMLS # 285985

Just tell her Kyle referred you. Good luck.

Kyle Quesnoy
510-502-5422
kyle.quesnoy@bhghome.com
www.bhghome.com/kylequesnoy
DRE # 01905746
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