- Feb 6, 2010
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You looking to stay in the town bra?
Home Buying & Real Estate Thread
- Thread in 'General' Thread starter Started by TYE_The Time Traveler,
- Start date
You looking to stay in the town bra?
- Mar 14, 2011
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Nah too expensive out here, rather get a big house and commute.
- Feb 6, 2010
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So you going to Tracy or towards vallejo? I feel it
- Jan 17, 2013
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Tracy prolly cheaper for him. Toward Vallejo you gonna have to go further to Fairfield for a little cheaper. Vallejo ok tho. Mid 6 for somthin niiiice...
lightweight champion
Banned
- Jun 23, 2007
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The outskirts of Fairfield have nice homes but prices start at $500k
- Nov 1, 2014
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So my husband and I are looking to buy a house in eastern NJ or western PA. We want a property with some land or at least just a big back yard. I just don't want to be on top of my neighbors
Anyways, I've been looking at some properties that are $150k-$200k and need a little bit of work or some upgrading, but on Zillow it will tell you the tax assessment and how much the yearly property tax is. Let's say that I buy a home for $150k but they have it assessed at $40k and I'm paying like $3200 a year in taxes. How often do they assess the property? I don't want to buy a house expecting to pay around $3200/yearly in taxes and then have them come and assess it at some crazy amount and then be F'd when it's time to pay taxes... I don't know if this is a stupid question, I don't even know if I know what I'm talking about but it's a little nerve-wracking trying to figure this out - haha!
Anyways, I've been looking at some properties that are $150k-$200k and need a little bit of work or some upgrading, but on Zillow it will tell you the tax assessment and how much the yearly property tax is. Let's say that I buy a home for $150k but they have it assessed at $40k and I'm paying like $3200 a year in taxes. How often do they assess the property? I don't want to buy a house expecting to pay around $3200/yearly in taxes and then have them come and assess it at some crazy amount and then be F'd when it's time to pay taxes... I don't know if this is a stupid question, I don't even know if I know what I'm talking about but it's a little nerve-wracking trying to figure this out - haha!
- Nov 16, 2001
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I would take that type of information from Zillow with a grain of salt TBH. Consult with a local mortgage broker in your area for accurate information. I know here, the assessed value is based on the original purchase price and can't increase more than 1.5% per year while you own the property. If you want the property value reassessed, you are able to petition it with the local assessor if you think it's lower.
So my husband and I are looking to buy a house in eastern NJ or western PA. We want a property with some land or at least just a big back yard. I just don't want to be on top of my neighbors
Anyways, I've been looking at some properties that are $150k-$200k and need a little bit of work or some upgrading, but on Zillow it will tell you the tax assessment and how much the yearly property tax is. Let's say that I buy a home for $150k but they have it assessed at $40k and I'm paying like $3200 a year in taxes. How often do they assess the property? I don't want to buy a house expecting to pay around $3200/yearly in taxes and then have them come and assess it at some crazy amount and then be F'd when it's time to pay taxes... I don't know if this is a stupid question, I don't even know if I know what I'm talking about but it's a little nerve-wracking trying to figure this out - haha!
- Mar 26, 2015
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Property value assessments are public information. Go the the municipalities website and it will be posted. You should call also and find out if the you plan to revalue the properties in that town. I second what crcballer55 stated, appeal the taxes If you have comps.
aepps20
Supporter
- Feb 8, 2004
- 42,597
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Just had my inspector complete his pre drywall inspection of my house. I'm really glad I paid to get that done. Hopefully the builder will address the issues.
- Nov 6, 2012
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Were there major issues? Are you paying for an inspector for each step of the build?
aepps20
Supporter
- Feb 8, 2004
- 42,597
- 90,927
Nothing too major. I am paying for an inspector for pre drywall and closing. I wanted to do an inspection for pre drywall to catch significant structural issues while they're still relatively quick and inexpensive to fix.
- Feb 25, 2005
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So my husband and I are looking to buy a house in eastern NJ or western PA. We want a property with some land or at least just a big back yard. I just don't want to be on top of my neighbors
Anyways, I've been looking at some properties that are $150k-$200k and need a little bit of work or some upgrading, but on Zillow it will tell you the tax assessment and how much the yearly property tax is. Let's say that I buy a home for $150k but they have it assessed at $40k and I'm paying like $3200 a year in taxes. How often do they assess the property? I don't want to buy a house expecting to pay around $3200/yearly in taxes and then have them come and assess it at some crazy amount and then be F'd when it's time to pay taxes... I don't know if this is a stupid question, I don't even know if I know what I'm talking about but it's a little nerve-wracking trying to figure this out - haha!
If it's anything like California, or specifically Santa Clara County, you get reassessed on the purchase price of the house. Most places in San Jose, are around 1.25% for property tax rate. Those assessed rates are probably grandfathered in for the current homeowner, so once you buy, you will be paying property taxes on the purchase price of the house.
- Nov 6, 2012
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Smart, wish I would have hired somebody.
- Feb 23, 2006
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Wrong thread
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- Jun 29, 2000
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yup, imagine those rich folks who can afford those $800-1Mil homes lol on top of their $4000 mortgage they gotta pay that $10,000 property tax if its not impounded in the mortgage. plus their living expenses and other crap.
all for a 2000-3000 sq ft old house with a small yard and back yard in silicon valley or sf
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- Feb 10, 2003
- 22,263
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Houses are cheap in Texas but they gouge you with property tax.
I'm paying 2.35%
I'm paying 2.35%
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- May 31, 2011
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Housing market will decline soon. Simple economics housing growth can't sustain unless we are going to see similar economic growth. Especially when we have a pool of mortgage owners who are purchasing non conventional ways with limited cash. Just ask around how many people do you know actually were able to put up a respectable down payment. These people are getting sold the home buyer dream again and don't realize the ramifications of signing the papers.
- Nov 6, 2012
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- Feb 10, 2003
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People are always going to need places to live.
lightweight champion
Banned
- Jun 23, 2007
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That's why you have pre qualifications. This isn't the mid 2000s where you can tell a lender you make x amount of dollars and they don't need to verify income. Housing market will decline but I don't see it crashing like it did last decade. Lenders are much smarter now.
- May 20, 2006
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Banks are malinvested in a number of areas outside of home loans. There will systemic financial crisis once again, its just not gonna be real estate that's the "cause" of it this time. It will be affected, it's clearly a bubble. A lack of demand due to lack of lending is what will push prices down. These mortgages are still being packaged, still be traded in bundles. Ratings are crap. Bond market collapse will kill long term lending. Look at the whole economy and not just the golden RE goose.
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- Aug 23, 2003
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Ha! They're every bit as greedy though.
The luxury housing market is already in decline: http://www.zerohedge.com/news/2016-01-26/luxury-housing-bubble-pops
- Nov 6, 2012
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Still can't believe they had no doc loans back then.
- Oct 3, 2007
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Student loans is the next crash, hopefully not as devastating.
- Nov 6, 2012
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What would happen if student loans crash?
