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Technology Stocks : Cisco Systems, Inc. (CSCO)
CSCO 78.030.0%Dec 24 12:59 PM EST
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To: Kirk © who wrote (66112)8/31/2004 2:22:02 PM
From: Amy J  Read Replies (2) of 77400
 
OT Hi Kirk, there hasn't been a home in that range since the late 90s in the area I'm thinking of. All of them on that particular street in that particular 3 block area have traded hands in the 2M range over the past four years. Another home went for $2.9M a few months ago around the corner from this block, which was mind boggling, as it was a small house too - maybe 4 bedrooms at best. They certainly aren't worth that much.

Hypothetically, could you imagine redoing your kitchen cabinets in this type of situation and being reassessed a property tax that's substantially more per year, just because you made the mistake of remodeling your kitchen cabinets during a bubble. Ouch. (For those outside of California, remodeling a home even in this small way, results in a property tax reassessment based upon current market value.)

Regards,
Amy J
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