Trading Spaces

Tuesday, August 05, 2008

Trading Spaces

Source: HousingTracker

14 comments:

Buying Time said...: A beautiful site to behold. Almost brings a tear to my eye.

Affordable homes in California.; Tuesday, August 05, 2008 4:14:00 PM
Jacob said...: Nice. Now how much longer until that 150 is the median...; Tuesday, August 05, 2008 4:56:00 PM
norcaljeff said...: Let's wait til 99th percentile. When Merrill Lynch is selling mortgages at 22 cents on the dollar, RE is still overpriced.; Tuesday, August 05, 2008 8:00:00 PM
Jacob said...: I'm wondering how I can buy mortgages for 22 cents on the dollar, not too many, just one would be fine...; Tuesday, August 05, 2008 9:10:00 PM
Unknown said...: tsk tsk, now you guys just sound greedy.; Tuesday, August 05, 2008 9:24:00 PM
Anonymous said...: how I can buy mortgages for 22 cents on the dollar

no kidding...I'd gladly pay 22cents on the dollar for my mortgage.; Tuesday, August 05, 2008 10:22:00 PM
Jacob said...: tsk tsk, now you guys just sound greedy.

No more so then people on the way up.

Prices are fine for me now. So I just want to get to the bottom. And more declines are just icing.; Tuesday, August 05, 2008 10:28:00 PM
Rob Dawg said...: I'd have to cash in a CD but I'll write a check right now for my mortgage @22¢. Effective yield in excess of 24%.; Wednesday, August 06, 2008 6:47:00 AM
Property Tax Man said...: How come the housing properties have dropped over 40% in the Sacramento area yet the assessor drops the assessment by less than 13%. Why aren't homeowner pissed off about paying thousands extra
http://propertytaxvalue.blogspot.com/; Wednesday, August 06, 2008 7:51:00 AM
Deflationary Jane said...: Because most people bought long ago and their assesments only went up 2% a year. You want control on the way up but a freefall on the way down? I don't think it works that way.; Wednesday, August 06, 2008 8:41:00 AM
Anonymous said...: Property tax man. I spent some time with the assessor working on getting my tax bill reduced. The assessor was logical and happy to talk at length about the process. In a nutshell the rules were:

- value as of Jan 1 2008
- use comps that closed by 3/30/08
- no distressed sales

I purchased in Aug 06 and my reduction was 12.7% for the current tax year. I thought the no distressed sales rule is ridiculous, but all in all it was probably a fair appraisal.

The appraiser even acknowledged that next year it will probably fall again.; Wednesday, August 06, 2008 8:49:00 AM
patient renter said...: I thought the no distressed sales rule is ridiculous

I'd agree. When so much of the market is distressed, you can't just ignore it and pretend like it doesn't effect property values.; Wednesday, August 06, 2008 8:56:00 AM
Jacob said...: You can if it will effect how much tax $$ you collect.; Wednesday, August 06, 2008 10:45:00 AM
norcaljeff said...: Jacob, if you're buddies with Merrill Lynch's CEO, or another big bank, I'm sure they'll hook you up :) The rest of us are left holding the stinky bag of dog crap.; Wednesday, August 06, 2008 6:27:00 PM