Comments on: 2,418 sqft house with .71 acres for $999,000 – where? http://www.burbed.com/2007/03/30/832/ San Francisco Bay Area, Silicon Valley House Price and Mortgage Insanity Blog Wed, 08 Feb 2012 04:55:43 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: burbed http://www.burbed.com/2007/03/30/832/#comment-970 burbed Mon, 02 Apr 2007 22:22:57 +0000 http://www.burbed.com/2007/03/30/832/#comment-970 "no one" is probably too strong. But being that Prop 13 continues to have a 70%+ approval rating, perhaps "most landowners" would probably be more accurate. “no one” is probably too strong.

But being that Prop 13 continues to have a 70%+ approval rating, perhaps “most landowners” would probably be more accurate.

]]> By: henry http://www.burbed.com/2007/03/30/832/#comment-969 henry Mon, 02 Apr 2007 22:17:53 +0000 http://www.burbed.com/2007/03/30/832/#comment-969 > One thing you don’t mention is the schools. Chappaqua has an *good* school system, something that it hard to imagine here in California, where no one wants to pay for such luxuries. Again, apples vs oranges. There are plenty of places in California that would willing raise local property taxes to fund local schools. Unfortuately that isn't allowed in California. See Serrano v. Priest. > One thing you don’t mention is the schools. Chappaqua has an *good* school system, something that it hard to imagine here in California, where no one wants to pay for such luxuries.

Again, apples vs oranges. There are plenty of places in California that would willing raise local property taxes to fund local schools. Unfortuately that isn’t allowed in California. See Serrano v. Priest.

]]> By: burbed http://www.burbed.com/2007/03/30/832/#comment-968 burbed Mon, 02 Apr 2007 16:55:06 +0000 http://www.burbed.com/2007/03/30/832/#comment-968 By walking, CatSynth means "driving less than 30 minutes." By walking, CatSynth means “driving less than 30 minutes.”

]]> By: CatSynth http://www.burbed.com/2007/03/30/832/#comment-967 CatSynth Mon, 02 Apr 2007 16:40:58 +0000 http://www.burbed.com/2007/03/30/832/#comment-967 One thing you don't mention is the schools. Chappaqua has an *good* school system, something that it hard to imagine here in California, where no one wants to pay for such luxuries. Who needs agood schools when you have great burritos, Frys, and live within walking distance of Google and Apple, right? One thing you don’t mention is the schools. Chappaqua has an *good* school system, something that it hard to imagine here in California, where no one wants to pay for such luxuries. Who needs agood schools when you have great burritos, Frys, and live within walking distance of Google and Apple, right?

]]> By: burbed http://www.burbed.com/2007/03/30/832/#comment-966 burbed Sun, 01 Apr 2007 03:49:47 +0000 http://www.burbed.com/2007/03/30/832/#comment-966 Ouch - I guess my theory wasn't mathematically sound. No wonder everyone's flocking here. Ouch – I guess my theory wasn’t mathematically sound.

No wonder everyone’s flocking here.

]]> By: henry http://www.burbed.com/2007/03/30/832/#comment-965 henry Sun, 01 Apr 2007 02:03:38 +0000 http://www.burbed.com/2007/03/30/832/#comment-965 According to zillow, this house (http://www.zillow.com/HomeDetails.htm?zprop=33065193)in Chappaqua is worth $944,000 with a 2005 property tax bill of $16026. It last sold in 1977 for $477,500. In California, the average tax is 1.1% of sales price, so a house bought at $944,000 today will have a tax of $10,384. In addition, the property taxes can only go up by 2% per year in California. A home owner gets no such protection in NY. You are comparing apples and oranges. According to zillow, this house (http://www.zillow.com/HomeDetails.htm?zprop=33065193)in Chappaqua is worth $944,000 with a 2005 property tax bill of $16026. It last sold in 1977 for $477,500.

In California, the average tax is 1.1% of sales price, so a house bought at $944,000 today will have a tax of $10,384. In addition, the property taxes can only go up by 2% per year in California. A home owner gets no such protection in NY.

You are comparing apples and oranges.

]]> By: burbed http://www.burbed.com/2007/03/30/832/#comment-964 burbed Sun, 01 Apr 2007 00:54:23 +0000 http://www.burbed.com/2007/03/30/832/#comment-964 http://www.zillow.com/HomeDetails.htm?o=North&testAds=false&zprop=19634176 This Cupertino house was assessed at $697,068 and its tax bill was $8,344. If it were a direct proportion, in Westchester it would be $9440. About 13% more. I'm not sure how mathematically sound that is though. http://www.zillow.com/HomeDetails.htm?o=North&testAds=false&zprop=19634176

This Cupertino house was assessed at $697,068 and its tax bill was $8,344.

If it were a direct proportion, in Westchester it would be $9440. About 13% more.

I’m not sure how mathematically sound that is though.

]]> By: henry http://www.burbed.com/2007/03/30/832/#comment-963 henry Sat, 31 Mar 2007 23:24:09 +0000 http://www.burbed.com/2007/03/30/832/#comment-963 > It’s probably just a smidge more than the equiv in California. Actually Westchester County, NY has the highest property tax rates in the country. For example, in 2005 the median home value in Westchester county was $541,000 while the median property tax bill was $7327 (source: http://www.fairfieldcbj.com/archive/101606/1016060008.php). The rates in Chappaqua are higher still. So I guess when when you say "a smidge higher" you mean 50-75% higher. > It’s probably just a smidge more than the equiv in California.

Actually Westchester County, NY has the highest property tax rates in the country. For example, in 2005 the median home value in Westchester county was $541,000 while the median property tax bill was $7327 (source: http://www.fairfieldcbj.com/archive/101606/1016060008.php). The rates in Chappaqua are higher still.

So I guess when when you say “a smidge higher” you mean 50-75% higher.

]]> By: Norcalboomer http://www.burbed.com/2007/03/30/832/#comment-962 Norcalboomer Sat, 31 Mar 2007 02:19:28 +0000 http://www.burbed.com/2007/03/30/832/#comment-962 I think the reason this property is so valuable is because the blue car ( obviously a classic) is included in the purchase price. A savvy homedebtor should be able to rent that out to an immigrant family to help make the mortgage payment!! I think the reason this property is so valuable is because the blue car ( obviously a classic) is included in the purchase price. A savvy homedebtor should be able to rent that out to an immigrant family to help make the mortgage payment!!

]]> By: burbed http://www.burbed.com/2007/03/30/832/#comment-961 burbed Fri, 30 Mar 2007 20:50:15 +0000 http://www.burbed.com/2007/03/30/832/#comment-961 >Wouldnt you feel like the hugest asshole paying that monthly mortgage and getting a rather crummy home? It's special here. Only smart people live here. >Wouldnt you feel like the hugest asshole paying that monthly mortgage and getting a rather crummy home?

It’s special here. Only smart people live here.

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