6 Comments

1. 

   interesting on July 3, 2012 at 8:38 am

   I’ll be back to read your blog later but I thought of you when I was reading this BB article.

   Blackstone is moving into SoCal SFH purchases and renting them out, KKR is teaming with Beazer on another fund.
   http://www.bloomberg.com/news/2012-07-03/blackstone-makes-foray-into-houses-for-rent-mortgages.html

   Side note: I don’t know if county assessors release their data all at the same time but my county just released 2012-2013 assessments and I’m trying to decide whether to appeal it or not. $20K lower than last year but $30K over Zillow’s “zestimate”. Sales since the county closed at the end of March seem to indicate the county got it right so I’m still thinking…

   For those who cry about “old people” and Prop 13, the county just voluntarily reduced my Prop 13 assessment (1987 purchase) below what they’ve been allowed to up it for the first time ever. Good news/bad news. 🙁

2. 

   GettinReady on July 3, 2012 at 9:55 am

   He’s claiming 800K… is that legal Jim?

3. 

   A L on July 3, 2012 at 2:57 pm

   The County does not care if the price is inflated on a Trustees Deed because property tax basis will be higher. If you try to show a nominal price, such as ten thousand dollars, the Assessor will not allow it. Some County Assessor’s (Kern comes to mind) do not care what the Trustees Deed shows because they do not consider it a 3rd party arms length transaction under Prop 13 guidelines, so you need to appeal their assessment to an appeals board that leans heavily to the County Assessor.

4. 

   James D on July 3, 2012 at 3:32 pm

   interesting,
   which ‘zestimate’ are you using? They typically bracket them from low to high and average it out. I know for my house, there is a HUGE disparity between low and high.
   My ‘zestimate’ is 50k off from the high and low. To me that 100k is pretty outrageous to rely on.

   I sent in my appeal months ago and just got back a letter from the County that is on par with the comps that I sent in. Which coincidentally is about 20k higher than the Zestimate.

   Point of my story is to use the zestimate as a start point but not the end all be all.

5. 

   Jay the Realtor wannabe on July 3, 2012 at 4:16 pm

   I’m really surprised the flipper just left the garage floor like that…it’s hideous! The floors in the rest of the house likely have the same problem under the pretty carpet and tile.

   You would think he would re-float it or at least patch and paint.

6. 

   Schultz!!!!! on July 8, 2012 at 6:58 pm

   If anyone is interested in that house, be sure and check the slab. If the garage concrete is bad there’s a good chance you’ve got a problem inside as well.