[jennyo]

Thanks everyone for the comments. Some a little harsh, but most likely accurate. We are lowering to $249K tomorrow, maybe that will at least generate a lowball offer. My husband is pretty adamant about not wanting to keep this thing.

[jennyo]

No capital gains tax to pay when we sell, because the adjusted basis will be the value as of the date of death (which is the $385k). Essentially we will be taking capital gains loss deductions forever at $3000 per year.

[jennyo]

No capital gains tax to pay when we sell, because the adjusted basis will be the value as of the date of death (which is the $385k). Essentially we will be taking capital gains loss deductions forever at $3000 per year.

[jennyo]

No capital gains tax to pay when we sell, because the adjusted basis will be the value as of the date of death (which is the $385k). Essentially we will be taking capital gains loss deductions forever at $3000 per year.

[jennyo]

Have you SEEN Oroville? Nothing in Oroville should cost $300,000. My friend bought a small house downtown for $43,000 in 2000! Yes, the lake is pretty when there is water in it, but the meth labs in the surrounding hills kind of ruin the atmosphere with the smell.

[jennyo]

Have you SEEN Oroville? Nothing in Oroville should cost $300,000. My friend bought a small house downtown for $43,000 in 2000! Yes, the lake is pretty when there is water in it, but the meth labs in the surrounding hills kind of ruin the atmosphere with the smell.

[jennyo]

CalPERS is worth oodles of billions, so $140 mil is a drop in the bucket. As for return on investment, the state witholds 5 percent of salary from employees for the PERS contribution. The “employer contribution” varies annually based on a calculation set by PERS. In years where PERS has done well, the employer contribution (which comes directly out of the state budget) has been as low as zero. In “bad” years, it goes up. For 2006-07 it was around 17 percent (30 percent for law enforcement). The “return” depends on how long retirees live after retirement. If I retire at 55 and live to be 95, I get a pretty good deal at 50 percent of my highest year of salary plus annual COLAs for the rest of my life. If I die at 57, taxpayers get good deal.

[jennyo]

CalPERS is worth oodles of billions, so $140 mil is a drop in the bucket. As for return on investment, the state witholds 5 percent of salary from employees for the PERS contribution. The “employer contribution” varies annually based on a calculation set by PERS. In years where PERS has done well, the employer contribution (which comes directly out of the state budget) has been as low as zero. In “bad” years, it goes up. For 2006-07 it was around 17 percent (30 percent for law enforcement). The “return” depends on how long retirees live after retirement. If I retire at 55 and live to be 95, I get a pretty good deal at 50 percent of my highest year of salary plus annual COLAs for the rest of my life. If I die at 57, taxpayers get good deal.

[jennyo]

Teachers actually pay into State Teachers Retirement System (STRS) which is totally separate from PERS. So your wife’s pension is not affected directly by anything that PERS does. Not to imply STRS doesn’t have its own problems–but there is a difference between the two… Now I, as a PERS member, should be crying.

[jennyo]

Teachers actually pay into State Teachers Retirement System (STRS) which is totally separate from PERS. So your wife’s pension is not affected directly by anything that PERS does. Not to imply STRS doesn’t have its own problems–but there is a difference between the two… Now I, as a PERS member, should be crying.

[jennyo]

The timing of the article is consistent with the timing of the Department of Finance population information. It has nothing to do with what is/isn’t happening in the housing market. Every year at this time, this information is released by the state. It coincides with the end of the state fiscal year.

[jennyo]

The timing of the article is consistent with the timing of the Department of Finance population information. It has nothing to do with what is/isn’t happening in the housing market. Every year at this time, this information is released by the state. It coincides with the end of the state fiscal year.

[jennyo]

You might as well offer them whatever you feel is appropriate–don’t be concerned about your agent’s income. My husband is currently trying to sell two houses and a fourplex as an executor of a relative’s estate, and in this market, he is seriously considering every lowball offer that comes in if the other terms are favorable (cash/high down payment/willing to have a longer escrow due to legal notification/as-is sales). His real estate agents are not thrilled about this, but they knew the deal when they signed up for the listings. If the house in Escondido is vacant and held in trust, it might be the same type of situation. Also, Mountain View is (at least used to be) a pretty nice street. You could do alot worse in Escondido.

[jennyo]

You might as well offer them whatever you feel is appropriate–don’t be concerned about your agent’s income. My husband is currently trying to sell two houses and a fourplex as an executor of a relative’s estate, and in this market, he is seriously considering every lowball offer that comes in if the other terms are favorable (cash/high down payment/willing to have a longer escrow due to legal notification/as-is sales). His real estate agents are not thrilled about this, but they knew the deal when they signed up for the listings. If the house in Escondido is vacant and held in trust, it might be the same type of situation. Also, Mountain View is (at least used to be) a pretty nice street. You could do alot worse in Escondido.

[jennyo]

Beanmaestro, please forgive my ignorance, but what is the welfare tax?

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