March 2, 2009 – Today California residential real property taxation is primarily regulated by Proposition 13 and Proposition 8. 
 
Proposition 13 – Limits the property tax rate to 1 percent plus voter-approved bonded indebtedness, and defines taxable value as the lowe...

February 8, 2010 – Propositions 60 and 90 are constitutional amendments passed by California voters that provide property tax relief for persons aged 55 and over. As specified by section 69.5 of the Revenue and Taxation Code, Props 60/90 allow, under certain conditions, the transfer of a Prop ...

January 10, 2010 – For the first time since the enactment of Proposition 13 in 1978, assessed values of (and taxes levied on) real property may see a year over year decline for the January 1, 2010 assessment date. 
 
Proposition 13 defines taxable value as the lower of the ...

January 7, 2010 – As we look back at the local real estate market for 2009, there are some interesting numbers in the rearview mirror. Three important trends stand out as encouraging indicators that our local market is stabilizing, or at least experiencing a significant pause in the...

December 24, 2009 – Today California residential real property taxation is primarily regulated by Proposition 13 and Proposition 8.
After an assessors scandal in 1966, AB80, a reform bill enacted by the legislature, kept assessments at a uniform percentage of market value. During the real...

November 16, 2009 - The Worker, Homeownership and Business Assistance Act of 2009 (HR3548) was signed into law in November by President Obama.
 
The bill deals with housing and unemployment aspects of the current economic crisis, including the Homebuyer Tax Credit. In addition to...

October 30, 2009 – As the peak selling season for the year winds down and we head into the holidays, there are some interesting numbers in the rearview mirror. Three important trends stand out as encouraging indicators that our local market is stabilizing, or at least experiencing a sign...

October 5, 2009 – This week we look at the year-to-date activity figures for Morgan Ranch. The idea is to see how Morgan Ranch has fared relative to the overall Nevada County market.
Morgan Ranch was established as a premier subdivision in 1989, and has matured as one of the more de...

September 14, 2009 – Early in the month, there were 858 active single family listings in our western Nevada County real estate market. This number has been fairly steady for the last 6 months.
 
This number includes all 3 of the segments we have been discussing: Orderly non...

September 2, 2009 – In earlier housing cycles, such as the early 80s and late 90s, the housing decline was a secondary effect of a different economic problem.  In the 80s, it was more or less due to closing of defense industry plants that were tied to old technology and wars like Vietnam....

July 28, 2009 – The Investors are coming, the Investors are coming! Since late last year, according to the California Association of Realtors®, buying activity by investors has been on the upswing in many California markets that have been hard hit by the recent correction in the housing ma...

July 29, 2009 – The listing count for Single Family homes in Western Nevada County has been relatively steady at 800-850 over the first 6 months of 2009, with a slight upward trend, and is currently at 854. Even with the fairly steady inventory, sales volume is up considerably in the sec...

July 2, 2009 – From Boom to Bust and Beyond…
Looking back at the recent market cycle, there’s a lot to talk about. We have heard all the angles and most of us will admit to knowing the story from 2004-2008. Click here for a graphical look.  From the peak in Q4 2005...

January 20, 2009 – In this edition, we'll look at market statistics for Q4-2008 and compare them to year-ago figures for Q4-2007 and to last quarter. We have defined the Western Nevada County market as single family homes west of the Sierra crest, and excluding properties with addresses in Tru...

October 20, 2008 – In this edition, we’ll look at market statistics for Q3-2008 and compare them to year-ago figures for Q3-2007 and to last quarter. We have defined the Western Nevada County market as single family homes west of the Sierra crest, and excluding properties with addresses ...

October 17, 2008 – As the effects of the credit crisis unfold, including interest rate adjustments on existing mortgages, falling property values, increasing unemployment and tight credit conditions, mortgage defaults are on the rise nationwide.
Some mortgage defaults are the result of t...

September 16, 2008 – A client asked me a few days ago, "How can we find energy-efficient homes that are on the market today?" These folks are concerned about the costs of home ownership, mainly energy costs, in the current and future economic environment.
Title 24, Part 6 of th...

A definition of an economist is: An expert who can tell you tomorrow why the prediction made yesterday, didn't happen today. 
And these are the experts!  When we look to the data and the market sentiment, we can get close to a bottom (or a top), yet nobody nails it con...

By SHELLY BANJO - The Wall Street Journal  August 16, 2008 


When it comes to housing, it's a buyer's market -- especially for first-time home buyers eligible for new tax breaks. 
The American Housing Rescue and Foreclosure Prevention Act of 2008...

July 30, 2008 – In this edition, we’ll look at market statistics for Q2-2008 and compare them to year-ago figures for Q1-2007 and to last quarter. We have defined the Western Nevada County market as single family homes west of the Sierra crest, and excluding properties with addresses in ...