Beverly Grove, 90048

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Beverly Grove, 90048 Beverly Grove, 90048

Beverlywood, 90035

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Beverlywood, 90035   Beverlywood, 90035

Hancock Park, 90036

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Hancock Park, 90036 Hancock Park, 90036

Beverly Hills, 90211

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Beverly Hills, 90211 Beverly Hills, 90211

Don’t Pay Too Much Property Tax

PropertyTax_jpg_800x1000_q100When tax time rolls around, many homeowners are surprised at the amount of property tax they owe. If you disagree with the stated value of your property, it’s worth a closer look to see if your bill has increased fairly. Statistics vary by area, but experts estimate that between 30 and 60 percent of taxable property in the United States is over-assessed, and this leads to higher property tax bills. Yet typically fewer than 5 percent of taxpayers challenge their assessments, even though the majority who do so win at least a partial victory when properly prepared. Are your property taxes too high?

To be sure you’re not paying more than you should, check the following factors.

Basic errors

First, verify that there are no mistakes on your property card — a document that records information such as dimensions, acreage and value. Errors like these can — and do — occur, and they’re actually quite common. But you won’t know about discrepancies if you haven’t seen your home’s card and reviewed it carefully. Get a copy at the town hall, bringing any errors to the immediate attention of the assessor

Comps

After you pull your home’s property card, take a look at a few of your neighbors’ cards — specifically, neighbors who have homes that are similar to yours in terms of age, size, style, condition and location. How do their assessments line up with yours?

Caps

There is often a cap on the maximum amount that property taxes on primary residences may be increased — but it’s up to you to make sure you’re being protected by it. For example, California’s constitution mandates that property taxes on primary residences cannot exceed 1% of the property’s market value and that the assessed taxable value of a property cannot go up by more than 2% a year unless the property is sold — regardless of how much the property may increase in value in market terms.

Exemptions

Are you taking advantage of special exemptions? Some states offer tax reductions for veterans, the disabled, and senior citizens. Some also provide reductions for historic buildings and special energy-efficient systems. Ask about these — and other incentives for tax reductions — that you may be eligible for. It’s worth a shot.

Is Owner Financing a Good Idea for Home Sellers?

buyers-sellers street sign

In this current market, with home prices trending up, but access to financing is more difficult post housing bubble. So, if you want to sell your home, is it a good idea to offer seller financing?

What does seller-financing mean?

An alternative form of financing seen during a seller’s real estate market is owner or seller financing or owner carryback. This means the owner participates in financing the buyer’s purchase of the property, either in

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Tight Inventory Challenges Propel Home Prices

spring home sales

A fourth national market report has added to the evidence that winter inventories are extraordinarily—even dangerously—low. Realtor.com has joined RE/MAX, NAR and Zillow in reporting levels significantly below last year.

The dramatic drop in listings tracked by REMAX echoed findings by NAR, Realtor.com and Zillow that supplies are tighter than they were last year and even two years ago when lack of supply sparked double digit prices increases and bubbles in several California markets

The

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3 Things You Don’t Want to Hear From Your Realtor

bad realtor

You’ve decided to sell your house. You begin to interview potential real estate agents to help you through the process. You need someone you trust enough to:

Set the market value on possibly the largest asset your family owns (your home)

Set the time schedule for the successful liquidation of that asset

Set the fee for the services required to liquidate that asset

An agent must be concerned first and foremost about you and

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Chinese Spending Billions on California Real Estate

california real estate market

Wealthy Chinese with a few million yuan to burn will spend billions on U.S. real estate in the years ahead. The United States is the country of choice for China buyers. Canada and Australia come in next at No. 2 and No. 3 respectively. That rich Chinese individuals and savvy corporations are buying up real estate in world class cities is no surprise at this point.

News of new Chinese real estate deals are popping

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