[EconProf]

I did not fully realize how bad off most all of europe was in this banking and currency crisis. I thought the U.S. had the biggest dolts for bankers. Turns out the haughty european countries were just as dumb.
Somehow, I feel better now.

[EconProf]

I did not fully realize how bad off most all of europe was in this banking and currency crisis. I thought the U.S. had the biggest dolts for bankers. Turns out the haughty european countries were just as dumb.
Somehow, I feel better now.

[EconProf]

I did not fully realize how bad off most all of europe was in this banking and currency crisis. I thought the U.S. had the biggest dolts for bankers. Turns out the haughty european countries were just as dumb.
Somehow, I feel better now.

[EconProf]

I did not fully realize how bad off most all of europe was in this banking and currency crisis. I thought the U.S. had the biggest dolts for bankers. Turns out the haughty european countries were just as dumb.
Somehow, I feel better now.

[EconProf]

With prices of condos and houses still dropping 1 to 2% per month, plus the usual seasonal slowdown approaching, it is still too early to jump in. But it might be good to scope out the market, pick your preferred neighborhood, and run the numbers on various property categories: condo vs. house, old vs. newer, big vs. small, etc.

When developing pro formas, beware of the first-timers usual tendency to overestimate rental income and underestimate the landlord’s time and expense do it right.

[EconProf]

With prices of condos and houses still dropping 1 to 2% per month, plus the usual seasonal slowdown approaching, it is still too early to jump in. But it might be good to scope out the market, pick your preferred neighborhood, and run the numbers on various property categories: condo vs. house, old vs. newer, big vs. small, etc.

When developing pro formas, beware of the first-timers usual tendency to overestimate rental income and underestimate the landlord’s time and expense do it right.

[EconProf]

With prices of condos and houses still dropping 1 to 2% per month, plus the usual seasonal slowdown approaching, it is still too early to jump in. But it might be good to scope out the market, pick your preferred neighborhood, and run the numbers on various property categories: condo vs. house, old vs. newer, big vs. small, etc.

When developing pro formas, beware of the first-timers usual tendency to overestimate rental income and underestimate the landlord’s time and expense do it right.

[EconProf]

With prices of condos and houses still dropping 1 to 2% per month, plus the usual seasonal slowdown approaching, it is still too early to jump in. But it might be good to scope out the market, pick your preferred neighborhood, and run the numbers on various property categories: condo vs. house, old vs. newer, big vs. small, etc.

When developing pro formas, beware of the first-timers usual tendency to overestimate rental income and underestimate the landlord’s time and expense do it right.

[EconProf]

With prices of condos and houses still dropping 1 to 2% per month, plus the usual seasonal slowdown approaching, it is still too early to jump in. But it might be good to scope out the market, pick your preferred neighborhood, and run the numbers on various property categories: condo vs. house, old vs. newer, big vs. small, etc.

When developing pro formas, beware of the first-timers usual tendency to overestimate rental income and underestimate the landlord’s time and expense do it right.

[EconProf]

I’ve done it and posted here about the process. The potential savings are huge, and I am amazed more people don’t take advantage of their rights to appeal.
The process is relatively simple and easily understood if you just work within the rules provided by the county Assessor’s office. The trick is to get your fair market value as of January 1 of this year. So only go by comparable sales prices on that date plus or minus 3 months. Nothing else, including today’s value, is relevant. Use your realtor sources for that, or internet research tools.
Right now, the appeals docket is overwhelmed with thousands of appeals–over 14,000 as of a few months ago. I see that number doubling or tripling as values fall further and people wake up to the possible savings. County officials may be so unable to process all these appeals that they simply grant you your requested number.
They have two years from the date you submit. One of my appeals is from last November and they haven’t even responded (but I know I am in their records–they give you a number).
The sidebar to this story is that county and city governments will see property tax revenues drop. The happy and fat years of 10% plus revenue growth and corresponding government bloat are over. Look for the new veto-proof CA legislature to end your Proposition 13 protections after the election.

[EconProf]

I’ve done it and posted here about the process. The potential savings are huge, and I am amazed more people don’t take advantage of their rights to appeal.
The process is relatively simple and easily understood if you just work within the rules provided by the county Assessor’s office. The trick is to get your fair market value as of January 1 of this year. So only go by comparable sales prices on that date plus or minus 3 months. Nothing else, including today’s value, is relevant. Use your realtor sources for that, or internet research tools.
Right now, the appeals docket is overwhelmed with thousands of appeals–over 14,000 as of a few months ago. I see that number doubling or tripling as values fall further and people wake up to the possible savings. County officials may be so unable to process all these appeals that they simply grant you your requested number.
They have two years from the date you submit. One of my appeals is from last November and they haven’t even responded (but I know I am in their records–they give you a number).
The sidebar to this story is that county and city governments will see property tax revenues drop. The happy and fat years of 10% plus revenue growth and corresponding government bloat are over. Look for the new veto-proof CA legislature to end your Proposition 13 protections after the election.

[EconProf]

I’ve done it and posted here about the process. The potential savings are huge, and I am amazed more people don’t take advantage of their rights to appeal.
The process is relatively simple and easily understood if you just work within the rules provided by the county Assessor’s office. The trick is to get your fair market value as of January 1 of this year. So only go by comparable sales prices on that date plus or minus 3 months. Nothing else, including today’s value, is relevant. Use your realtor sources for that, or internet research tools.
Right now, the appeals docket is overwhelmed with thousands of appeals–over 14,000 as of a few months ago. I see that number doubling or tripling as values fall further and people wake up to the possible savings. County officials may be so unable to process all these appeals that they simply grant you your requested number.
They have two years from the date you submit. One of my appeals is from last November and they haven’t even responded (but I know I am in their records–they give you a number).
The sidebar to this story is that county and city governments will see property tax revenues drop. The happy and fat years of 10% plus revenue growth and corresponding government bloat are over. Look for the new veto-proof CA legislature to end your Proposition 13 protections after the election.

[EconProf]

I’ve done it and posted here about the process. The potential savings are huge, and I am amazed more people don’t take advantage of their rights to appeal.
The process is relatively simple and easily understood if you just work within the rules provided by the county Assessor’s office. The trick is to get your fair market value as of January 1 of this year. So only go by comparable sales prices on that date plus or minus 3 months. Nothing else, including today’s value, is relevant. Use your realtor sources for that, or internet research tools.
Right now, the appeals docket is overwhelmed with thousands of appeals–over 14,000 as of a few months ago. I see that number doubling or tripling as values fall further and people wake up to the possible savings. County officials may be so unable to process all these appeals that they simply grant you your requested number.
They have two years from the date you submit. One of my appeals is from last November and they haven’t even responded (but I know I am in their records–they give you a number).
The sidebar to this story is that county and city governments will see property tax revenues drop. The happy and fat years of 10% plus revenue growth and corresponding government bloat are over. Look for the new veto-proof CA legislature to end your Proposition 13 protections after the election.

[EconProf]

I’ve done it and posted here about the process. The potential savings are huge, and I am amazed more people don’t take advantage of their rights to appeal.
The process is relatively simple and easily understood if you just work within the rules provided by the county Assessor’s office. The trick is to get your fair market value as of January 1 of this year. So only go by comparable sales prices on that date plus or minus 3 months. Nothing else, including today’s value, is relevant. Use your realtor sources for that, or internet research tools.
Right now, the appeals docket is overwhelmed with thousands of appeals–over 14,000 as of a few months ago. I see that number doubling or tripling as values fall further and people wake up to the possible savings. County officials may be so unable to process all these appeals that they simply grant you your requested number.
They have two years from the date you submit. One of my appeals is from last November and they haven’t even responded (but I know I am in their records–they give you a number).
The sidebar to this story is that county and city governments will see property tax revenues drop. The happy and fat years of 10% plus revenue growth and corresponding government bloat are over. Look for the new veto-proof CA legislature to end your Proposition 13 protections after the election.

[EconProf]

As a former Mayor of San Diego, Roger has some occassionally good insights on local politics, economics, and history. But he is overly populist and bombastic & often takes cheap shots at easy targets.

On housing and real estate, he has been unduly optimistic for many years. Many of his advertisers are mortage companies and home improvement outfits, so maybe that colors his views.

[Author]

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