Now that we are pretty much at the bottom of the market, I get asked all the time by clients and friends that own San Diego Real Estate about how to lower their property tax bases on homes that are currently valued much too high by the San Diego Tax Assessor.  Now many of you may have gotten notices of reduced base values in the mail from the assessor’s office.  However, there’s a very good possibility you could get it lowered further. 

The process is very simple.  Ask a local real estate agent, most preferrably the one that helped you buy the property, pull recent comps.  Choose 3 comps that are comparable to your property but that demonstrate the lowest possible value base.  Download the application form from the San Diego Tax Assessor’s site.  Download the “Application for Change Assessment” form.  Print, fill out in entirety and mail in to the San Diego Assessor’s office.  The time period in which to submit an appeal is from July 2nd to November 30th for the 2009-2010 tax year.

Tara Steinke

Coldwell Banker

619-384-6014

SDRealtor.Tara@gmail.com

I wanted to comment on this.  Because buyers, sellers and all industry people need to acknowledge that the human apsect, the “American Dream”, has been pretty much stomped for many people out there.  The San Diego Real Estate market and industry… and frankly the entire California market I would say…  has morphed into a difficult, un-feeling, jammed, and dis-jointed beast.  Honestly…. from the front lines of the industry I can say that, sadly, the BANKS are running this show now.  I would guess that between 75-85% (very possibly more!!) of our current inventory is made up of short sales and foreclosures.  Which, you guessed it, require a bank representative to approve a sale.  We agents are losing our capability to deliver a true fiduciary service to our clients.  The good agents are fighting tooth and nail to do so.  Today is the time of the REO and Short Sale offices that WON’T even take a phone call from a buyer’s agent!  Many have convoluded answering systems that don’t have the “press zero to speak to an operator” option.  So we’re left emailing constantly.   And then we have clients, friends and relatives that are facing a very near mortgage interest adjustment meaning much higher payments or a true hardship (I know about a dozen people who’ve been layed off or received reduced hours) and the banks say don’t qualify for a modification. 

I still humanize every offer I submit, writing a concise yet thorough cover letter detailing my client’s situation and providing a few personal details about their family, hopes in home ownership and intent.  I know there’s a human being somewhere that will see the offer and I just hope to spark some sense of compassion…  a reflection of how much home ownership (or any other dream of prosperity) has possibly meant to them and their families. Let’s bring the human aspect back into real estate….  I do believe it will take some time….  the time needed to relinquish the current corporate grasp that is currently choking the industry.

Tara

This is a great question, and it would depend on the selling bank you are dealing with. I have represeted buyers in REO purchases recently and have found the banks willing to cover a basic home warranty plan from reputable company. Your agent does need to write that into the purchase offer. I would like to clarify that the bank is not extending a warranty on the property. They are simply purchasing a warranty service provided by a 3rd party company. This does not extend any liability regarding the condition of the property to the selling bank.

Be sure to read the policy guidelines from the chosen home warranty provider to be clear what level of coverage you are receiving. Have your agent help you understand them clearly.

I hope that helps clarify somewhat.
Best of luck!

Tara

Tara Steinke
San Diego Real Estate Professional
Residential Sales and Appraisal
619-384-6014
mysandiegoagent@gmail.com