[quote=bearishgurl]
For every highly-leveraged micro-market and/or subdivision in SD County, there are MORE (very established) residential areas which have a low overall pattern and incidence of current encumbrance. WHY? Because CA’s most desirable coastal and urban areas were built up long ago and a large percentage of their pre-April 1978 owners or their heirs (whether first, second or subsequent owners of the property) are still the owners of record today. This is true of ALL CA counties, coastal and otherwise, although, except for agricultural acreage, the highest desirability and thus value generally lies in the properties in areas which lie within five miles of the coast, with the overall value fanning out from there, highest to lowest.
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The bolded part….kind depends on what you mean by a “large percentage”. Is 10 percent large? 20 percent? I can’t find any recent numbers, but 17 years ago, around 1/3 of LA homeowners still had property tax valuations dating back to 1978, and that percentage had been declining by about 2% a year. I doubt it’s 15% of homes that have valuations that originated in the 70’s. You’ve made this assertion a handful of times BG. I think it’s based on nothing more than anecdotal evidence, and isn’t close to accurate.
