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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: XoFruitCake who wrote (141215)	8/15/2008 9:38:02 AM
From: Live2Sail	Respond to of 306849

"An increase of 1500 a year is only about 120K increase in home value at 1.25%... And the assessment can easily be that since it is set at home price of jan to Mar 08 compare to Jan and Mar 07.. And home price in San Francisco has been very strong (in addition to the house around Google land) until this year." But assessments can only rise 2%/yr at most thanks to Prop. 13. That means that her house would have to be expensive enough in the first place such that $120K is a 2% increase. So, her house would have to have cost $6M (not 7M like I first wrote). That probably isn't a fixer-upper in the Outer Sunset unless it's one, damn big house.