how much ur house worth, 18k??? my san bruno last yr is only 10k
and you have to watch this too, i think daly city, the water is cheaper, but sewer fee i think is added to property tax, but in san bruno, water is expensive since sewer fee is not added to prop tax.
basically let’s say 6k difference in property tax a year, 10 years make it 80k more. but cost basis from 500 k - 1mil , just tax saving when you sell is 167k , that is enough to cover 15-20 yrs of property tax difference
And life changes, things changes, priority changes, so you might not always have the luxury to hold for 20+ yrs.
not sure if you understand what my point is, but this way i’m more flexible. and prop13 can always go away with our gov
Good question, but they are pretty adamant that because it was a private sale (not MLS) that it COULD have been more. Well, yeah, anything could have been more. And of course there aren’t that many sales to begin with so yeah some house nearby sold for about 2M late last year or early this year and of course that one looks good to them. I countered with the fact that we had two brokers representing both parties, so arms length, no hint of collusion. And, I got two appraisals that are backing up roughly sale price. I of course gave an earful to the accessor about varying conditions of property and how you simply can not look at square footage of lot and home alone. Come on, rookies!!! Technically, my backyard is pretty deep that goes all the way to the neighbor’s fence which you can barely see. This may not be much to some of you, but I believe I have about 2/3 of an acre in total. Developing it later is probably doable but it would mean chopping down some fairly tall trees and clearing it all out.
The new guy that came out seems more reasonable so let’s see what he does. Otherwise, I have a hearing in November before a 3 person panel I think. He said no one really wants to get to that point. I of course said then do something about it and simply agree with my purchase price which is as good a starting point as any.
The house you quote is in a good street, but it is very tiny pocket and as soon as you crossed Mission blvd, it is a bit of ghetto. On the west side that’s closer to Fremont, is a bit more consistent. A lot of houses were built in 80s as well as there is new development (in early 2000) so IMO neighborhood is much more desirable, and it is closed to more shoppings and better for commute (except for Bart).
This kind of area is great for couples who do not have school age children. When housing fever cools off it will see the most price drop. Except SM County all the rest SFBA craze atmosphere seem to have more rational. 45 days on the market is not something seller should be embarrassed.
I just checked 30 year mortgage 80% perfect FICO 1.2M mortgage is $6,081 (PI)
majority can get it 4.6-4.8% no points. This is Quicken Loans. Next week we will see how high interest rate will be.