[urbanrealtor]

[quote=sdrealtor]I can confirm that sold out jr liens (i.e. completely underwater 2nds that have nothing to gain via foreclosure) are settling for 10 to 20 cents on the dollar and often less. They are de facto principal reductions. I’ve been blogging about it for a couple months but Rt 66 wanted to discount it. Its real.[/quote]

Do you really believe what rt 66 sez?

Dude.

[urbanrealtor]

[quote=sdrealtor]I can confirm that sold out jr liens (i.e. completely underwater 2nds that have nothing to gain via foreclosure) are settling for 10 to 20 cents on the dollar and often less. They are de facto principal reductions. I’ve been blogging about it for a couple months but Rt 66 wanted to discount it. Its real.[/quote]

Do you really believe what rt 66 sez?

Dude.

[urbanrealtor]

[quote=DataAgent]California tax law says “properties are reassessed to current market value only upon a change in ownership…”

Purchase price is usually equal to current market value. However, if the state feels you got a “smokin’ deal” they can adjust the value accordingly.

http://www.boe.ca.gov/proptaxes/pdf/pub29.pdf%5B/quote%5D
Thats exactly right.
If you disagree, you will have to take it up directly with them.
Don’t be shy.

If it is the case that you bought at market, this means that you will likely be able to successfully contest it.

Good luck.

[urbanrealtor]

[quote=DataAgent]California tax law says “properties are reassessed to current market value only upon a change in ownership…”

Purchase price is usually equal to current market value. However, if the state feels you got a “smokin’ deal” they can adjust the value accordingly.

http://www.boe.ca.gov/proptaxes/pdf/pub29.pdf%5B/quote%5D
Thats exactly right.
If you disagree, you will have to take it up directly with them.
Don’t be shy.

If it is the case that you bought at market, this means that you will likely be able to successfully contest it.

Good luck.

[urbanrealtor]

[quote=DataAgent]California tax law says “properties are reassessed to current market value only upon a change in ownership…”

Purchase price is usually equal to current market value. However, if the state feels you got a “smokin’ deal” they can adjust the value accordingly.

http://www.boe.ca.gov/proptaxes/pdf/pub29.pdf%5B/quote%5D
Thats exactly right.
If you disagree, you will have to take it up directly with them.
Don’t be shy.

If it is the case that you bought at market, this means that you will likely be able to successfully contest it.

Good luck.

[urbanrealtor]

[quote=DataAgent]California tax law says “properties are reassessed to current market value only upon a change in ownership…”

Purchase price is usually equal to current market value. However, if the state feels you got a “smokin’ deal” they can adjust the value accordingly.

http://www.boe.ca.gov/proptaxes/pdf/pub29.pdf%5B/quote%5D
Thats exactly right.
If you disagree, you will have to take it up directly with them.
Don’t be shy.

If it is the case that you bought at market, this means that you will likely be able to successfully contest it.

Good luck.

[urbanrealtor]

[quote=DataAgent]California tax law says “properties are reassessed to current market value only upon a change in ownership…”

Purchase price is usually equal to current market value. However, if the state feels you got a “smokin’ deal” they can adjust the value accordingly.

http://www.boe.ca.gov/proptaxes/pdf/pub29.pdf%5B/quote%5D
Thats exactly right.
If you disagree, you will have to take it up directly with them.
Don’t be shy.

If it is the case that you bought at market, this means that you will likely be able to successfully contest it.

Good luck.

[urbanrealtor]

[quote=jpinpb]Don’t get me started on the bio-engineered Frankenstein food.[/quote]

I have to say.
After reading this, I have decided to walk across the street for a super mcgutbuster with a sundae.

I may request it with a side of olestra and splenda.

Haven’t decided.

[urbanrealtor]

[quote=jpinpb]Don’t get me started on the bio-engineered Frankenstein food.[/quote]

I have to say.
After reading this, I have decided to walk across the street for a super mcgutbuster with a sundae.

I may request it with a side of olestra and splenda.

Haven’t decided.

[urbanrealtor]

[quote=jpinpb]Don’t get me started on the bio-engineered Frankenstein food.[/quote]

I have to say.
After reading this, I have decided to walk across the street for a super mcgutbuster with a sundae.

I may request it with a side of olestra and splenda.

Haven’t decided.

[urbanrealtor]

[quote=jpinpb]Don’t get me started on the bio-engineered Frankenstein food.[/quote]

I have to say.
After reading this, I have decided to walk across the street for a super mcgutbuster with a sundae.

I may request it with a side of olestra and splenda.

Haven’t decided.

[urbanrealtor]

[quote=jpinpb]Don’t get me started on the bio-engineered Frankenstein food.[/quote]

I have to say.
After reading this, I have decided to walk across the street for a super mcgutbuster with a sundae.

I may request it with a side of olestra and splenda.

Haven’t decided.

[urbanrealtor]

To the OP:

I recommend getting a professional opinion on the value and rental market before making that final set of decisions.

I mention that because of my own situation.

Before I married her, my wife bought a place in North Park. It is now about 60-70% of the original purchase price.

This is where we live now.

If we were to sell, it would be a short sale.
However, if we rent it out, it will cash flow positive.

Its an easy decision since values are rising right now around here.

It may be that you do not have complete information regarding your current situation.
It may be that you are in a much better position than you realize.

[urbanrealtor]

To the OP:

I recommend getting a professional opinion on the value and rental market before making that final set of decisions.

I mention that because of my own situation.

Before I married her, my wife bought a place in North Park. It is now about 60-70% of the original purchase price.

This is where we live now.

If we were to sell, it would be a short sale.
However, if we rent it out, it will cash flow positive.

Its an easy decision since values are rising right now around here.

It may be that you do not have complete information regarding your current situation.
It may be that you are in a much better position than you realize.

[urbanrealtor]

To the OP:

I recommend getting a professional opinion on the value and rental market before making that final set of decisions.

I mention that because of my own situation.

Before I married her, my wife bought a place in North Park. It is now about 60-70% of the original purchase price.

This is where we live now.

If we were to sell, it would be a short sale.
However, if we rent it out, it will cash flow positive.

Its an easy decision since values are rising right now around here.

It may be that you do not have complete information regarding your current situation.
It may be that you are in a much better position than you realize.

[Author]

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