Forum Replies Created
-
AuthorPosts
-
urbanrealtor
Participant[quote=EconProf]Not sure what you are proposing here, with two attorneys. Does that mean one on each side? That works out to two deal killers moving the transaction along. Most attorneys don’t know enough about the intricacies of RE, unless that is all they do.
Real estate agents of course vary widely in quality. To have a good one working only for you is almost always worthwhile. They insert themselves as middlemen in a complicated, lengthy transaction that is filled with landmines. They keep the two warring sides apart in what is essentially a zero-sum game. They move the transaction along and coordinate deadlines, other parties, and necessary paperwork. Good agents earn their money.
BTW, I would not use a friend as an agent–you can’t ream them out if they screw up.[/quote]I think (though I am not certain) that he is referring to the practice on the east coast where the agent really only handles the sales part. Once an offer is accepted, the 2 attorneys draw up a contract (think mail merge) and shepherd it through closing. They handle the role we would here use an escrow company for. This is how most law firms keep the lights on in those areas (or so I am told). Ironically, they generally make less than escrow companies. Typical residential closings are 600-800 per side (and each attorney only handles one side).
Participant[quote=EconProf]Hibiscus: It is most unlikely you are paying 20 times what your neighbor is paying.
Proposition 13, passed overwhelmingly in 1978, limited property taxes to 1% of value and no more than a 2% increase per year. It has been watered down over the years to allow the 1% to increase to about 1.2 or 1.25% in many areas by voter-approved bonded debt.
So your neighbor has likely had a 2% increase per year if he owned the same property in 1978. That is over 32 years so with compounding his tax has more than doubled, including the bonded debt portion. Prop 13 is indeed a boon to long-time owners and yes, some would call that unfair.
But CA is not starved for revenues due to Prop 13. Since it passed total property tax revenues are up by a factor of eight, due to assessed value increases, more property, more people, etc.
CA government spending has far outpaced the growth in population plus inflation. CA does not have a revenue problem. CA has a spending problem.[/quote]Thats not entirely right.
Our state ranks in the middle for per capita spending.
Considering that our population is likely under-represented due to a large number of undocumented residents, our per capita spending is probably even lower.
This does not even take into account that we rank near the top for cost of living.
So our average per-person spending is less than average when cost of living is taken into account.We actually are far leaner than most states.
The only time we look fat is when you ignore the fact that we have more people.
Where exactly are you a professor of economics?
Participant[quote=EconProf]Hibiscus: It is most unlikely you are paying 20 times what your neighbor is paying.
Proposition 13, passed overwhelmingly in 1978, limited property taxes to 1% of value and no more than a 2% increase per year. It has been watered down over the years to allow the 1% to increase to about 1.2 or 1.25% in many areas by voter-approved bonded debt.
So your neighbor has likely had a 2% increase per year if he owned the same property in 1978. That is over 32 years so with compounding his tax has more than doubled, including the bonded debt portion. Prop 13 is indeed a boon to long-time owners and yes, some would call that unfair.
But CA is not starved for revenues due to Prop 13. Since it passed total property tax revenues are up by a factor of eight, due to assessed value increases, more property, more people, etc.
CA government spending has far outpaced the growth in population plus inflation. CA does not have a revenue problem. CA has a spending problem.[/quote]Thats not entirely right.
Our state ranks in the middle for per capita spending.
Considering that our population is likely under-represented due to a large number of undocumented residents, our per capita spending is probably even lower.
This does not even take into account that we rank near the top for cost of living.
So our average per-person spending is less than average when cost of living is taken into account.We actually are far leaner than most states.
The only time we look fat is when you ignore the fact that we have more people.
Where exactly are you a professor of economics?
Participant[quote=EconProf]Hibiscus: It is most unlikely you are paying 20 times what your neighbor is paying.
Proposition 13, passed overwhelmingly in 1978, limited property taxes to 1% of value and no more than a 2% increase per year. It has been watered down over the years to allow the 1% to increase to about 1.2 or 1.25% in many areas by voter-approved bonded debt.
So your neighbor has likely had a 2% increase per year if he owned the same property in 1978. That is over 32 years so with compounding his tax has more than doubled, including the bonded debt portion. Prop 13 is indeed a boon to long-time owners and yes, some would call that unfair.
But CA is not starved for revenues due to Prop 13. Since it passed total property tax revenues are up by a factor of eight, due to assessed value increases, more property, more people, etc.
CA government spending has far outpaced the growth in population plus inflation. CA does not have a revenue problem. CA has a spending problem.[/quote]Thats not entirely right.
Our state ranks in the middle for per capita spending.
Considering that our population is likely under-represented due to a large number of undocumented residents, our per capita spending is probably even lower.
This does not even take into account that we rank near the top for cost of living.
So our average per-person spending is less than average when cost of living is taken into account.We actually are far leaner than most states.
The only time we look fat is when you ignore the fact that we have more people.
Where exactly are you a professor of economics?
Participant[quote=EconProf]Hibiscus: It is most unlikely you are paying 20 times what your neighbor is paying.
Proposition 13, passed overwhelmingly in 1978, limited property taxes to 1% of value and no more than a 2% increase per year. It has been watered down over the years to allow the 1% to increase to about 1.2 or 1.25% in many areas by voter-approved bonded debt.
So your neighbor has likely had a 2% increase per year if he owned the same property in 1978. That is over 32 years so with compounding his tax has more than doubled, including the bonded debt portion. Prop 13 is indeed a boon to long-time owners and yes, some would call that unfair.
But CA is not starved for revenues due to Prop 13. Since it passed total property tax revenues are up by a factor of eight, due to assessed value increases, more property, more people, etc.
CA government spending has far outpaced the growth in population plus inflation. CA does not have a revenue problem. CA has a spending problem.[/quote]Thats not entirely right.
Our state ranks in the middle for per capita spending.
Considering that our population is likely under-represented due to a large number of undocumented residents, our per capita spending is probably even lower.
This does not even take into account that we rank near the top for cost of living.
So our average per-person spending is less than average when cost of living is taken into account.We actually are far leaner than most states.
The only time we look fat is when you ignore the fact that we have more people.
Where exactly are you a professor of economics?
Participant[quote=EconProf]Hibiscus: It is most unlikely you are paying 20 times what your neighbor is paying.
Proposition 13, passed overwhelmingly in 1978, limited property taxes to 1% of value and no more than a 2% increase per year. It has been watered down over the years to allow the 1% to increase to about 1.2 or 1.25% in many areas by voter-approved bonded debt.
So your neighbor has likely had a 2% increase per year if he owned the same property in 1978. That is over 32 years so with compounding his tax has more than doubled, including the bonded debt portion. Prop 13 is indeed a boon to long-time owners and yes, some would call that unfair.
But CA is not starved for revenues due to Prop 13. Since it passed total property tax revenues are up by a factor of eight, due to assessed value increases, more property, more people, etc.
CA government spending has far outpaced the growth in population plus inflation. CA does not have a revenue problem. CA has a spending problem.[/quote]Thats not entirely right.
Our state ranks in the middle for per capita spending.
Considering that our population is likely under-represented due to a large number of undocumented residents, our per capita spending is probably even lower.
This does not even take into account that we rank near the top for cost of living.
So our average per-person spending is less than average when cost of living is taken into account.We actually are far leaner than most states.
The only time we look fat is when you ignore the fact that we have more people.
Where exactly are you a professor of economics?
Participant[quote=scaredycat]maybe I can bring my wife and kids. They have no idea why i spend any time here. are you people normal looking? she questions my sanity as it is…[/quote]
I assure you, I look very normal.
Except for the pseudopod.
And the prosthetic arm from the lightsaber duel with Christopher Lee.
Participant[quote=scaredycat]maybe I can bring my wife and kids. They have no idea why i spend any time here. are you people normal looking? she questions my sanity as it is…[/quote]
I assure you, I look very normal.
Except for the pseudopod.
And the prosthetic arm from the lightsaber duel with Christopher Lee.
Participant[quote=scaredycat]maybe I can bring my wife and kids. They have no idea why i spend any time here. are you people normal looking? she questions my sanity as it is…[/quote]
I assure you, I look very normal.
Except for the pseudopod.
And the prosthetic arm from the lightsaber duel with Christopher Lee.
Participant[quote=scaredycat]maybe I can bring my wife and kids. They have no idea why i spend any time here. are you people normal looking? she questions my sanity as it is…[/quote]
I assure you, I look very normal.
Except for the pseudopod.
And the prosthetic arm from the lightsaber duel with Christopher Lee.
Participant[quote=scaredycat]maybe I can bring my wife and kids. They have no idea why i spend any time here. are you people normal looking? she questions my sanity as it is…[/quote]
I assure you, I look very normal.
Except for the pseudopod.
And the prosthetic arm from the lightsaber duel with Christopher Lee.
Participant[quote=afx114]Piggington needs a “Like” button.[/quote]
No shit.
That was an awesome story.Participant[quote=afx114]Piggington needs a “Like” button.[/quote]
No shit.
That was an awesome story.Participant[quote=afx114]Piggington needs a “Like” button.[/quote]
No shit.
That was an awesome story. -
AuthorPosts
