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(former)FormerSanDiegan
ParticipantA scrape is considered new construction, as opposed to a remodel. New construciton brings with it additional fees and costs.
Also, important is the tax basis, depending on how long you’ve owned the property. If you remodel or add on to an existing property you essentially keep the Tax basis for the property, with an adjustment for the added remodel.
For example, we put over 1000 square feet onto an existing 8000 sf house in the early 2000’s. We also impacted nearly all of the existing 800 sf. Our original tax basis was under 300K. When the remodel was complete the county tacked on the remodel upgrades as only another 115 K in value.
With new construction, the county will determine the value for the entire property and the clock starts anew for Prop 13.
Participant[quote=sdrealtor][quote=deadzone]It may be true that high interest rates have not historically led to housing downturns. However, the current situation is unlike any in history. Due to the number of I/O ARM loans outstanding (reset chart), as we’ve discussed ad-nauseum, higher interest rates right now would abolutely DESTROY the housing market.[/quote]
I love it! So this times its different.
The bear is using the mantra the bears attacked the bulls with a few years ago as being ridiculous. It was ridiculous then and still is.[/quote]
I am waiting to hear the words “permanently lower plateau” for home prices.
Participant[quote=sdrealtor][quote=deadzone]It may be true that high interest rates have not historically led to housing downturns. However, the current situation is unlike any in history. Due to the number of I/O ARM loans outstanding (reset chart), as we’ve discussed ad-nauseum, higher interest rates right now would abolutely DESTROY the housing market.[/quote]
I love it! So this times its different.
The bear is using the mantra the bears attacked the bulls with a few years ago as being ridiculous. It was ridiculous then and still is.[/quote]
I am waiting to hear the words “permanently lower plateau” for home prices.
Participant[quote=sdrealtor][quote=deadzone]It may be true that high interest rates have not historically led to housing downturns. However, the current situation is unlike any in history. Due to the number of I/O ARM loans outstanding (reset chart), as we’ve discussed ad-nauseum, higher interest rates right now would abolutely DESTROY the housing market.[/quote]
I love it! So this times its different.
The bear is using the mantra the bears attacked the bulls with a few years ago as being ridiculous. It was ridiculous then and still is.[/quote]
I am waiting to hear the words “permanently lower plateau” for home prices.
Participant[quote=sdrealtor][quote=deadzone]It may be true that high interest rates have not historically led to housing downturns. However, the current situation is unlike any in history. Due to the number of I/O ARM loans outstanding (reset chart), as we’ve discussed ad-nauseum, higher interest rates right now would abolutely DESTROY the housing market.[/quote]
I love it! So this times its different.
The bear is using the mantra the bears attacked the bulls with a few years ago as being ridiculous. It was ridiculous then and still is.[/quote]
I am waiting to hear the words “permanently lower plateau” for home prices.
Participant[quote=sdrealtor][quote=deadzone]It may be true that high interest rates have not historically led to housing downturns. However, the current situation is unlike any in history. Due to the number of I/O ARM loans outstanding (reset chart), as we’ve discussed ad-nauseum, higher interest rates right now would abolutely DESTROY the housing market.[/quote]
I love it! So this times its different.
The bear is using the mantra the bears attacked the bulls with a few years ago as being ridiculous. It was ridiculous then and still is.[/quote]
I am waiting to hear the words “permanently lower plateau” for home prices.
Participant[quote=pri_dk]”I propose to take an income no greater than $50,000 per annum!”
Andrew Carnegie, 1868 (33 years old)
“Beyond this I need ever earn, make no effort to increase my fortune, but spend the surplus each year for benevolent purposes! Let us cast aside business forever, except for others.”
40 years later, he was the richest man in America.
But he did give much of it away.[/quote]
I will take this same pledge
… with inflation adjustments, of course.$50,000 in 1869 => $800,000 today.
Participant[quote=pri_dk]”I propose to take an income no greater than $50,000 per annum!”
Andrew Carnegie, 1868 (33 years old)
“Beyond this I need ever earn, make no effort to increase my fortune, but spend the surplus each year for benevolent purposes! Let us cast aside business forever, except for others.”
40 years later, he was the richest man in America.
But he did give much of it away.[/quote]
I will take this same pledge
… with inflation adjustments, of course.$50,000 in 1869 => $800,000 today.
Participant[quote=pri_dk]”I propose to take an income no greater than $50,000 per annum!”
Andrew Carnegie, 1868 (33 years old)
“Beyond this I need ever earn, make no effort to increase my fortune, but spend the surplus each year for benevolent purposes! Let us cast aside business forever, except for others.”
40 years later, he was the richest man in America.
But he did give much of it away.[/quote]
I will take this same pledge
… with inflation adjustments, of course.$50,000 in 1869 => $800,000 today.
Participant[quote=pri_dk]”I propose to take an income no greater than $50,000 per annum!”
Andrew Carnegie, 1868 (33 years old)
“Beyond this I need ever earn, make no effort to increase my fortune, but spend the surplus each year for benevolent purposes! Let us cast aside business forever, except for others.”
40 years later, he was the richest man in America.
But he did give much of it away.[/quote]
I will take this same pledge
… with inflation adjustments, of course.$50,000 in 1869 => $800,000 today.
Participant[quote=pri_dk]”I propose to take an income no greater than $50,000 per annum!”
Andrew Carnegie, 1868 (33 years old)
“Beyond this I need ever earn, make no effort to increase my fortune, but spend the surplus each year for benevolent purposes! Let us cast aside business forever, except for others.”
40 years later, he was the richest man in America.
But he did give much of it away.[/quote]
I will take this same pledge
… with inflation adjustments, of course.$50,000 in 1869 => $800,000 today.
Participant[quote=jstoesz]a neighborhood to me has a few defining characteristics. None of these are deal breakers, but a majority is necessary to define what I am looking for.
1) walkable to something (resaurants, gas station, movie theater, grocery store, Yatch club (I kid)).
2. Has a name (la mesa, del mar, shelter island, solana, encinitas, roseville, you know what I mean, tract names don’t count, singing meadows need not apply)
3. has side walks (I guess this buttresses on number 1)
4. Organic (this may be synonymous with custom homes and custom commercial centers but I don’t think it has to be) It just has to come about organically as in no plans.
5. Character (yup I am leaving this undefined, but it probably has to do with #4)
6. History (I want vintage photos)
7. walkable (but I repeat myself)[/quote]
A simple generalization to this would be to look for areas that have no mello-roos. Those that have mello-roos, probably won;t meet these qualificaitons.
Participant[quote=jstoesz]a neighborhood to me has a few defining characteristics. None of these are deal breakers, but a majority is necessary to define what I am looking for.
1) walkable to something (resaurants, gas station, movie theater, grocery store, Yatch club (I kid)).
2. Has a name (la mesa, del mar, shelter island, solana, encinitas, roseville, you know what I mean, tract names don’t count, singing meadows need not apply)
3. has side walks (I guess this buttresses on number 1)
4. Organic (this may be synonymous with custom homes and custom commercial centers but I don’t think it has to be) It just has to come about organically as in no plans.
5. Character (yup I am leaving this undefined, but it probably has to do with #4)
6. History (I want vintage photos)
7. walkable (but I repeat myself)[/quote]
A simple generalization to this would be to look for areas that have no mello-roos. Those that have mello-roos, probably won;t meet these qualificaitons.
Participant[quote=jstoesz]a neighborhood to me has a few defining characteristics. None of these are deal breakers, but a majority is necessary to define what I am looking for.
1) walkable to something (resaurants, gas station, movie theater, grocery store, Yatch club (I kid)).
2. Has a name (la mesa, del mar, shelter island, solana, encinitas, roseville, you know what I mean, tract names don’t count, singing meadows need not apply)
3. has side walks (I guess this buttresses on number 1)
4. Organic (this may be synonymous with custom homes and custom commercial centers but I don’t think it has to be) It just has to come about organically as in no plans.
5. Character (yup I am leaving this undefined, but it probably has to do with #4)
6. History (I want vintage photos)
7. walkable (but I repeat myself)[/quote]
A simple generalization to this would be to look for areas that have no mello-roos. Those that have mello-roos, probably won;t meet these qualificaitons.
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