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April 26, 2007 at 12:06 AM in reply to: Tech is BACK!….Housing downfall might be limited in San Diego afterall. #51166
sdrealtor
ParticipantHow about upper middle class foreigners seeking to live in the US?
April 25, 2007 at 7:29 PM in reply to: Taxes RE-ASSESSED or NOT after buying BELOW assessed value? #51139ParticipantYou are absolutely correct. The tax basis steps up in value for income tax purposes at inheritance while the assessed value remains. Heck, they could pass it down a couple generations this way if it is still standing. Even if the house is worth what it is today it would be a major windfall.
April 25, 2007 at 5:04 PM in reply to: Taxes RE-ASSESSED or NOT after buying BELOW assessed value? #51130ParticipantProp 13 allows for parent -child transfers of tax basis. It’s one of the reasons I will never sell my house. Eventually one of my kids will be living in a gazillion dollar house (or what ever its worth in about 25 years) with a pre-current bubble tax bill.
April 25, 2007 at 5:02 PM in reply to: Taxes RE-ASSESSED or NOT after buying BELOW assessed value? #51129ParticipantYou pay taxes based upon your purchase price not the prior owners price with one small glitch as inferred by SD R. When you close, you will pay taxes based upon the current assessed value initially. In a couple months, the new price will go through the system and you will be reassessed at the lower value. Any overpayments would be resolved but initially you would take a cash flow hit.
ParticipantJust checked Solana Beach in the MLS. When I run stats which I know is low, I get 85. When I run all the listings which I know is accurate I get 92. I purposely selected places with less than 250 because the system caps out at returning 250 listings. ZIP has 100. Thats a 10% difference.
Santee
Stats 216
MLS LIstings 227
ZIP 234I could keep going but I think the truth is probably somewhere around halfway between the numbers I get running stats and what ZIP posts.
April 23, 2007 at 11:49 PM in reply to: Renters are foolish??? “5 lousy excuses not to buy a home” . . . per MSN #50953ParticipantUnfortunately most people are so brainwashed to think that people only buy houses in San Diego and perhaps SoCal. That was an article with a national audience and I suspect the fundamentals are far different as you go from place to place.
ParticipantJust like the UT to report on the potential for something to happen after the worst already happened.
April 23, 2007 at 9:04 PM in reply to: Renters are foolish??? “5 lousy excuses not to buy a home” . . . per MSN #50941ParticipantPC,
Dont ever buy a car or a TV. Does anyone ever feel like they get a good deal on one. As soon as you get one you see it in the paper a week or two later for less.Me I prefer to buy things that I want and can afford after taking the time to get the best for my money at the point in time I make the decision to buy.
sdr
Participantyeah that too
April 23, 2007 at 7:42 PM in reply to: Renters are foolish??? “5 lousy excuses not to buy a home” . . . per MSN #50935ParticipantChris,
I guess you arent anybody then.sdr
ParticipantGood catch JG! I was wondering if anyone would. Just a little harmless fun.
ParticipantNot to burst the Del Mar Review Process bashing bubble but I believe this house is actually under the jurisdiction of the City of SD not Del Mar. Not all homes west of the 5 are officially in the city of Del mar and I think this could be one.
Yup! Just checked the Thomas Guide map and it is City of SD.
ParticipantIf you want more information from me, come back here when you are ready to look and I’ll point you in the right direction. I know lots of long time owners that rent out nice homes as well as all the property management companies. As pleasant as your dog might be, I’m sure you realize it presents a challenge for you.
You can also reach me at [email protected].
ParticipantHow do you know that?
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