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Purely by dumb luck we sold the cottage (settlement was yesterday) at the peak of the market. That peak came a few months latter than most of our properties, all of which I track in Zillow. We still have undeveloped land north of the cottage that has just now plateaued. The markets have the ability to "self cleanse" and I believe we are seeing the beginning of that correction.
The good news----buying opportunities lie ahead :pimpgrin:
Other good news would be if the appraisal district would take note of dropping values and adjust our appraised values lower for taxing purposes...Fat chance...:nono:...BenQuote:
Originally Posted by Dave Grubb
Market has slowed down here.. smaller houses were being purchased for the land underneath.. only one listed in neighborhood currently and it has stagnated..
I saw some stats yesterday showing our Salt Lake City realty values are rapidly tanking. As Ben stated, perhaps our tax values will be lower. We can always hope, right?
Hunter
Our former mayor was attacked by a movement to lower taxes..
He replied.. we have agreed to pay our bonds.. and pay the utilities for our buildings.. and our police, fire and other city employees.. if you add all of the spending comments that we have together, the discretionary portion of our budget is very small x5%.. real estate value times tax rate must equal our financial commitments.. if real estate values go down, tax rate goes up..
Ben Franklin said something about taxes..
Yep, death and taxes. :cool:
Old Ben knew his stuff.
Hunter
Thanks for noticing...Quote:
Originally Posted by UTAH
Oh wait, you meant that guy in Philadelphia...:doh:...Ben
I think Ben Franklin and our Ben would have been friends (we can figure out the tech of time travel another time).
Hunter