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Home Buying in Kensington : Real Estate Advice

  • All7
  • Local Info1
  • Home Buying3
  • Home Selling1
  • Market Conditions0

Activity 3
Tue Sep 13, 2011
Raymond Garcia answered:
Hi Ek,

Unfortunately, both coasts are still experiencing a decline in home prices. Fortunately, there is a glimpse that stability is nearing.

Homeonership is for the long haul, that's where you will find appreciation. The swings will occur, you just have to ride the highs and lows.

Hang in there!

Ray Garcia
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Wed Aug 12, 2009
Steven Ornellas answered:
Hi Laura,

To estimate annual property taxes use 1.25% X Sales Price

CA's Proposition 13 limits the taxation of property to 1.2% of a property’s assessed value (as a Buyer this is the sales price), PLUS any special assessments and improvement bonds approved by the voters. Property tax increases are limited to a 2% increase in the assessed value of the property per year.

Best, Steve
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Tue Sep 13, 2011
Dot Chance answered:
If the sale requires court confirmation you will need to have a cashiers check for the amount of 10% of your offer that will be held until the court decides who gets the house. There is usually a first bid on the property then the subsequent bids are usually overbids. You will most likely need to show up in court on the date and appointed time. These sales can be a lengthy process and most of them are AS IS.

Good luck!
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