Comments for Property value reassessments in high demand at http://lakeconews.com , comment 1 to 7 out of 7 comments http://lakeconews.com Sun, 21 Mar 2010 21:36:42 +0100 FeedCreator 1.7.2 http://lakeconews.com/content/view/6775/919/#comment-9906 A friend of mine asked me to take a look at a house she was buying.( I am a local contractor. Add joke here.) Anyway this place was being sold for three or four times its actual value. It also had many problems. The entire time I was trying to give her advice the realtor was telling her what a deal she was getting. I could have built her a house for half the cost, but she was getting a loan through this realtors \"people\" and if she was going to act it had to be now. He said it wouldn\'t \"last long at that price\". Less than a year went by and the market dumped. Just like everyone that had anything to do with housing, knew it would. My friend got swindled, and I let it happen. The realtor had a better argument. He was well trained in the lies he was spreading. Long term trends. There is no bubble. It is still cheaper than Napa. Horse$@*%! I feel so bad for not standing up for her better than I did.... Oh yeah, isn\'t it funny how the tax increase is at the end of the curve not the beginning. Don\'t you love it when they stick it in and break it off. - cale_page Mon, 29 Dec 2008 13:39:53 +0100 http://lakeconews.com/content/view/6775/919/#comment-9863 [quote]Overall, I think he was pointing to long-term trends, as the county\'s tax values have continued to rise even as values in other places have not. [/quote] This trend may be reflecting Lake County\'s place in the market. I lived in a \"Value-market\" area of Napa in the early \'90\'s. The market went through an adjustment that saw the prices of higher valued homes fall below their mortgages. The area where I lived continued to increase in price as the folks who could afford homes were now purchasing at the low-end of the market. The safest investment will always be at the low-end of the market. I don\'t want to insult the folks who live in this county but we are at the low end of the market. I moved here almost 10 years ago because of the value of the property and the quality of life was better than Napa could provide. As we watch the decline of society in the counties and cities that border ours, we should be thankful that we haven\'t become completely dependent on the real estate market to support our infrastructure. Had we implemented many of the social programs and policies that our neighboring municipalities have, We would be in a lot worse fiscal situation. - socolake Sat, 27 Dec 2008 22:20:31 +0100 http://lakeconews.com/content/view/6775/919/#comment-9862 The interview took place before the November CPI was released. Overall, I think he was pointing to long-term trends, as the county\'s tax values have continued to rise even as values in other places have not. The December CPI -- which won\'t be released until Jan. 16 -- should give a better end-of-year picture, connected with the first tax apportionment expected for the County Auditor\'s Office. That\'s the CPI I believe he was referring to in our interview. - elarson Sat, 27 Dec 2008 17:28:57 +0100 http://lakeconews.com/content/view/6775/919/#comment-9861 second! [quote]The only bright spot for me is my faith in Kelly to tell it like it is [/quote] - taxismom Sat, 27 Dec 2008 14:01:55 +0100 http://lakeconews.com/content/view/6775/919/#comment-9860 gee - Wckdgrl Sat, 27 Dec 2008 13:49:41 +0100 http://lakeconews.com/content/view/6775/919/#comment-9859 on the ocean - it\'s that next wave you don\'t see that can drown you. We still have an additional wave of AlterA/OptionARM mortgages to hit the beach. The only bright spot for me is my faith in Kelly to tell it like it is and give a realistic opinion on what we can afford and what we can\'t. - Donna Christopher Sat, 27 Dec 2008 11:34:59 +0100 http://lakeconews.com/content/view/6775/919/#comment-9858 when was the last time you read the news? [quote] However, he anticipates continuing to see local property values go up due to the rising consumer price index[/quote] AP - December 24 Consumer spending fell for a fifth straight month in November, the longest weak stretch in a half-century, while incomes declined under the weight of massive job layoffs. CNN - December 16 The Consumer Price Index, a key inflation reading, fell 1.7% last month, according to the Labor Department. That was much weaker than October\'s 1% drop and exceeded the 1.3% decline forecast by a consensus of economists surveyed by Briefing.com. Bloomberg - December 24: Consumer spending dropped at a 3.8 percent annual pace in the third quarter, the biggest plunge since 1980, revised Commerce figures showed yesterday. The economy shrank 0.5 percent. Economists surveyed by Bloomberg forecast the economy will contract through the first half of 2009. And not since 1933 has the Consumer Price Index seen as steep a three-month fall as there has been in the past 90 days, 3 percent. In economic terms, that means we’re almost in deflation-mode, a dark period when there is virtually no growth and businesses keep slashing prices in hopes of snaring a buyer. - taxismom Sat, 27 Dec 2008 10:22:25 +0100