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EconProf
ParticipantAccording to the folks at the relevant county office, the value as of last January is what counts, plus or minus 3 months. The language of the forms used stresses this.
This is understandable, since values have fallen at least 10% since January for most areas. The Assessor naturally wants to not be too generous in lowering assessed values, so will stick to their rules.
I found the clerks at the County Administration Building to be very helpful and courteous, by the way. That may not last, as they are about to get a tsunami of appeals. They are already way behind on processing their current backlog.ParticipantAccording to the folks at the relevant county office, the value as of last January is what counts, plus or minus 3 months. The language of the forms used stresses this.
This is understandable, since values have fallen at least 10% since January for most areas. The Assessor naturally wants to not be too generous in lowering assessed values, so will stick to their rules.
I found the clerks at the County Administration Building to be very helpful and courteous, by the way. That may not last, as they are about to get a tsunami of appeals. They are already way behind on processing their current backlog.ParticipantAccording to the folks at the relevant county office, the value as of last January is what counts, plus or minus 3 months. The language of the forms used stresses this.
This is understandable, since values have fallen at least 10% since January for most areas. The Assessor naturally wants to not be too generous in lowering assessed values, so will stick to their rules.
I found the clerks at the County Administration Building to be very helpful and courteous, by the way. That may not last, as they are about to get a tsunami of appeals. They are already way behind on processing their current backlog.ParticipantThe land portion of your total assessed value may be very relevant–it depends on your situation. With property values way down, land prices have fallen even more than the total package. Accordingly, if unimproved lot prices in your area are well under the assessor’s value of yours, then attack their valuation.
But in general, it is the value of close comps of land + improvements that counts.
Be sure to stick to the value of those comps last January, plus or minus 3 months. The assessor will ignor any other comps.ParticipantThe land portion of your total assessed value may be very relevant–it depends on your situation. With property values way down, land prices have fallen even more than the total package. Accordingly, if unimproved lot prices in your area are well under the assessor’s value of yours, then attack their valuation.
But in general, it is the value of close comps of land + improvements that counts.
Be sure to stick to the value of those comps last January, plus or minus 3 months. The assessor will ignor any other comps.ParticipantThe land portion of your total assessed value may be very relevant–it depends on your situation. With property values way down, land prices have fallen even more than the total package. Accordingly, if unimproved lot prices in your area are well under the assessor’s value of yours, then attack their valuation.
But in general, it is the value of close comps of land + improvements that counts.
Be sure to stick to the value of those comps last January, plus or minus 3 months. The assessor will ignor any other comps.ParticipantThe land portion of your total assessed value may be very relevant–it depends on your situation. With property values way down, land prices have fallen even more than the total package. Accordingly, if unimproved lot prices in your area are well under the assessor’s value of yours, then attack their valuation.
But in general, it is the value of close comps of land + improvements that counts.
Be sure to stick to the value of those comps last January, plus or minus 3 months. The assessor will ignor any other comps.ParticipantThe land portion of your total assessed value may be very relevant–it depends on your situation. With property values way down, land prices have fallen even more than the total package. Accordingly, if unimproved lot prices in your area are well under the assessor’s value of yours, then attack their valuation.
But in general, it is the value of close comps of land + improvements that counts.
Be sure to stick to the value of those comps last January, plus or minus 3 months. The assessor will ignor any other comps.ParticipantRental markets are dependent on local conditions, so I cannot comment on the Hawaiian situation, but my recent experience in San Diego suggests it is weak here.
I had remarkably low response to my aggressive marketing of a University Heights/Normal Heights house. Quickly lowered the rent & have a likely tenant as I believe in quickly adjusting to market realities. Noticed a lot of competing houses languishing on the market for a long time.
Prospective landlords should lower their revenue expectations in recognition of the deflationary environment we are in, at least for high/middle range houses.ParticipantRental markets are dependent on local conditions, so I cannot comment on the Hawaiian situation, but my recent experience in San Diego suggests it is weak here.
I had remarkably low response to my aggressive marketing of a University Heights/Normal Heights house. Quickly lowered the rent & have a likely tenant as I believe in quickly adjusting to market realities. Noticed a lot of competing houses languishing on the market for a long time.
Prospective landlords should lower their revenue expectations in recognition of the deflationary environment we are in, at least for high/middle range houses.ParticipantRental markets are dependent on local conditions, so I cannot comment on the Hawaiian situation, but my recent experience in San Diego suggests it is weak here.
I had remarkably low response to my aggressive marketing of a University Heights/Normal Heights house. Quickly lowered the rent & have a likely tenant as I believe in quickly adjusting to market realities. Noticed a lot of competing houses languishing on the market for a long time.
Prospective landlords should lower their revenue expectations in recognition of the deflationary environment we are in, at least for high/middle range houses.ParticipantRental markets are dependent on local conditions, so I cannot comment on the Hawaiian situation, but my recent experience in San Diego suggests it is weak here.
I had remarkably low response to my aggressive marketing of a University Heights/Normal Heights house. Quickly lowered the rent & have a likely tenant as I believe in quickly adjusting to market realities. Noticed a lot of competing houses languishing on the market for a long time.
Prospective landlords should lower their revenue expectations in recognition of the deflationary environment we are in, at least for high/middle range houses.ParticipantRental markets are dependent on local conditions, so I cannot comment on the Hawaiian situation, but my recent experience in San Diego suggests it is weak here.
I had remarkably low response to my aggressive marketing of a University Heights/Normal Heights house. Quickly lowered the rent & have a likely tenant as I believe in quickly adjusting to market realities. Noticed a lot of competing houses languishing on the market for a long time.
Prospective landlords should lower their revenue expectations in recognition of the deflationary environment we are in, at least for high/middle range houses.ParticipantBanks’ cost of funds have probably never been lower. They are hoarding cash, as are many other people and institutions in this rush to liquidity. A deflationary mentality reigns, at least for now.
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