Land Contracts And Tax Equalization
WHen you enter into a land contract I would imagine the deed and as far as the government is concerned the property stays in the sellers name. So the taxes wont equalize until you ahve the property paid off and into your name right? Or no?
thanks
Nick
Property tax.
That may be a valid interpretation, but it would have been just good courtesy for Lennyseleven to respond even if he only tells us that your intrepretation is accurate.
In CA, that property tax basis is based on the tranfer price.
If there is no deed recorded at time of sale on land contract, there would be no property tax uptick.
thanks for your thoughts santa. you make some good points. i do believe that in the long run both cities are good investments.
do you have any specific smaller, emerging markets that you feel are worthy checking out?
thanks.
Utah.
The cap rates are not good here on average. That said , there is a finite amount of land and that is disappearing in the salt lake valley. My appraiser says that SL is getting really hot at the moment with some areas 10-15K higher than they were 6 months ago. Overally I would not call it a boom but mainly appreciation moving in the right direction.
Sugarhouse is one of the prime areas that has shown appreciation even in the worst market and seems to be doing better and better. I have a house on 2000 east and the house across the street sold in 4 days FSBO. at about 200K.
I am thinking of selling our project for 210.
Oregon has always bee pretty good for the last ten years or so despite the unemployment problems. My parents live in Oregon city and are seeing properties sold in days in their area.
Bend however is far hotter of a market than the portland area. It has limited growth areas and the water supply is a problem and there is talk of not allowing new building permits due to this concern. If that happens the prices will skyrocket as this has bee rated on of the top 10 places to live and retire consistantly.
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