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Property Q&A in University South : Real Estate Advice

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Activity 3
Mon Apr 14, 2014
Talan Baek asked:
I'm thinking to move in around May 15th, and move out around August 13th.

This question was asked from this property:
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Sun Sep 23, 2012
Juliana Lee answered:
Don't forget the tax basis of a property can be carried from a property owned but recently sold, to a new purchase. Properties may have a low assessed value even though they were recently sold. 325 Channing Ave appears to have been sold in the last few years for significantly more than $201,637

In addtition to proposition 13, there is:
Proposition 8 - allows reassessment in a declining market
Proposition 60 - homeowners over 55 transfer assessed value to a replacement home
Proposition 90 - extended Proposition 60 across counties
Proposition 110 - extended benefits to disabled homeowners of any age
Proposition 218 - required voter approval of local government assessments

Although it doesn't affect tax assessment, only income liability, 1031 exchanges can't be ignored when considering taxes.

Juliana Lee
Keller Williams Realty
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Tue May 29, 2012
Norman Alessandrini answered:
I agree with Tap, but if you want the contact info I suggest you go to and put in the property ID # given in the begining of the description. This should give you who to contact.

I hope that helped,
At your service,
Certified Distressed Property Expert
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