February 28, 2010

Bay Area homeowners renting out rooms – small business ideas

Homeowners rent out rooms to stave off foreclosure

 

Reeling from the recession’s one-two-three-punch of job woes, climbing mortgage payments, and evaporating equity, desperate Silicon Valley homeowners are dipping into a nearby income stream to avoid foreclosure:

That bedroom just down the hall.

While renting out a room has been around for years, especially in the South Bay’s Latino neighborhoods, sharing a home in order to save it has become an increasingly popular way to hang on to the front-door keys to the American dream.

“I’m up against a wall and I had no other place to turn for income,” said Rafael Porras, a 50-year-old waiter who began renting out a room in his downtown San Jose condo this month after he was squeezed by pay cuts at work and a mortgage payment about to rise. “But I had to do it because I don’t want to walk away from this place. My credit’s excellent, and without good credit, you’re nobody.”

Whether they’ve rented out rooms in the past to make ends meet, or a job loss has prompted them to tap into their inner landlord for the first time, many people say their rental income is the only thing keeping them from losing their homes. And for many homeowners — even those whose property is worth less than their loan amount — losing their home is not an acceptable option.

“I can’t imagine life anywhere else,” said 71-year-old Margaret Licon, who bought her San Jose house 40 years ago and raised six kids in it before losing her husband 25 years ago.

“Renting out bedrooms is a growing trend,” says Sunnyvale housing counselor Maritza Wong, who works for the nonprofit Project Sentinel. “And it’s not just lower-income people doing it, but even people who were making good money before losing their jobs.’

At Project Sentinel, where staffers report as many as 20 percent of their clients becoming landlords under their own roof, counselors are recommending the practice as a way for homeowners to tweak their debt-to-income ratio in order to qualify for a modification. But a word of caution: becoming a landlord, especially for someone with little or no experience, can bring headaches, from tenants who fail to pay rent to those who are just a pain in the neck to live with.

Did you see that? “I can’t imagine life anywhere else”. That’s just how amazing Silicon Valley is – people would rather rent out their homes than leave!

Really, this is a reflection of two aspects of Silicon Valley’s nature:

1: Generosity. Just like how companies love to share stock options (equity) instead of paying something dinky like cash (like they do on Wall St), homeowners love to share their houses so they can offer others the opportunity to move to Silicon Valley!

2: Entrepreneurship. Silicon Valley folks are incredibly resourceful in finding new ways to raise revenue. Besides, how much of a 1100 sqft house do you really need?

Congrats Bay Area! Congrats! The rest of this nation could really learn from us!

Comments (31) -- Posted by: burbed @ 5:06 am






February 27, 2010

Royal Sovereign Front Loading Cash Counter with Dual Counterfeit Protection (RBC-1003)

Royal Sovereign Front Loading Cash Counter with Dual Counterfeit Protection (RBC-1003)

image

Product Specifications

  • Brand Name: Royal Sovereign
  • Model number: RBC-1003
  • Color: Gray
  • Number of Items: 1
  • Manufacturer Part Number: RBC1003

Technical Details

  • Counts over 1200 bills per minute
  • Front loading collection opening holds over 300 bills
  • Dual protection systems to detect false bills by UV reflection and magnetic scanning
  • Remote LED Display with touch pad controls and batching and adding functions
  • Retractable Handle, provides easy portability

I thought it might be good to take a break from books for a little bit. Let’s face it, here in Silicon Valley there is so much cash floating around that you may have trouble keeping track. For example, you may heard of people using their houses as ATMs – well, in Silicon Valley, because houses are guaranteed to appreciate, houses really can have ATMs built in!

And then there’s the fact that every time you go outside in Silicon Valley, there’s practically money raining down from all the startups, the virtual farms, the social networks, the virtualization, the clouds, the cupcake stores. Do you have $20000 or $200000 in your backyard today? You’ll need a counter to be sure!

How do you handle your daily uncovering riches today?

If you have some extra cash, this site could definitely use some to pay for servers! Click this link to learn more about donating to this site’s hosting costs!

Comments (1) -- Posted by: burbed @ 5:14 am

February 26, 2010

A colorful house in the colorful house of San Francisco

$875,000

image

Beds: 5
Baths: 3
Sq. Ft.: 2,136
$/Sq. Ft.: $410
Lot Size: -
Property Type: Single-Family Home
Style: Contemporary
View: Panoramic, City Lights, Bay, Park, Hills, Mt. Diablo
Year Built: 1906
Community: Glen Park
County: San Francisco
MLS#: 364602
Source: San Francisco MLS
Status: Active This listing is for sale and the sellers are accepting offers.
On Redfin: 24 days
Great extra wide property on quiet Laidley Street in Glen Park. There are two separate detached units, each with a garage. The front 3bd. 2ba. house has new central heating, 2nd floor deck with crow’s nest, ground floor studio, views of Mt. Diablo, San Bruno Mtn, and Bay views. The rear unit is a legal 2 bd. Each needs some work. 4 blocks to GLEN PARK BART. This is a short sale. Offers will be reviewed as they come. Open Sundays 2 – 4pm and Tuesday Tours. Call or write for other times. Come see!
Thanks to Burbed reader nomadic for this find!
Wow. This house certainly is colorful. Here’s what nomadic had to say:

Some people trash their house when they know they’re going to be foreclosed… these folks apparently decided to paint the exterior to vent their frustrations.

Seems that with tenants, the owners would’ve been able to keep up with the payments.  They originally put 20% down to buy it (according to PropertyShark).

This seems to imply that the design was in malice. Personally, I think this is exactly the kind of house that San Francisco is famous for – individualized, iconic, controversial. Just think of how this house is already cheering up this Friday at Burbed!

If you’re not proud of owning this house and its color scheme, then this house probably isn’t for you.

Now, to onto the nitty gritty: offers will be reviewed as they come. So, it’s definitely in your best interest to bid early and at a very high price. Otherwise, this could easily slip away. Maybe you should even go as far as to place multiple bids under secret names – each higher than the last! Now that’s a strategy that any realtor would approve of. Ignore the fact that there are no interior pics – it’s probably just too fabulous.

And, with the separate detached units… in a word… cashflow. Sweet sweet cashflow.

Happy friday!

Comments (22) -- Posted by: burbed @ 5:08 am

February 25, 2010

Best value in Atherton – affordable housing is now possible

Beds: 2
Baths: 2
Sq. Ft.: 1,330
$/Sq. Ft.: $989
Lot Size: 8,500 Sq. Ft.
Property Type: Detached Single Family
Stories: 1
Year Built: 1922
Community: El Camino to Alameda
County: San Mateo
MLS#: 81005654
Source: MLSListings
Status: Active This listing is for sale and the sellers are accepting offers.
On Redfin: 7 days
Complete renovation 2 years ago! Beautiful chef’s kitchen with granite countertops, stainless steel appliances, breakfast bar, & wine fridge. Living room with access to patio/lawn, 2 remodeled baths, dual-paned windows, hardwood floors, surround sound, and lutron switches with remotes.
Thanks to Burbed reader Herve for this find!
 
Wow. What an amazing value! Just $1.3 million dollars! And remodeled just 2 years ago – it’s even got lutron switches and hardwood floors!
 
Yes indeed, the affordable housing crisis is over. Even Atherton has affordable housing. Now, granted, it might not be affordable to low income folks… but most two or 3 adult engineer households can easily afford this.
 
Just think, with this house, you can proudly tell your co-workers that you live in the same city as so many famous Silicon Valley executives. Sure, your house might look a little different, but hey… it’s got room to grow. With a little touch up, this could easily shoot up to $2 million.
 
Finally, just think, located on El Camino Real, thousands of commuters each day will drive by your house, wondering who is so lucky to live in Atherton. And it will be you. Pride of ownership baby!
Comments (63) -- Posted by: burbed @ 5:24 am

is new york too expensive compared to california

It’s search engine Thursday!

Usually an actual search query is featured.However, lately there has so many “cupertino union school district lottery date” and “cusd lottery” (what’s that all about?) in the logs that it wasn’t particularly interesting. So, let’s examine a different potential query: is new york too expensive compared to california

The answer is a resounding yes. New York is absolutely too expensive compared to California… the Bay Area should definitely be more expensive. We’ve got sushi, world class universities, El Camino Real – what do they have? Jersey Shore?

Now let’s give credit where credit is due – we are certainly getting there. Out in the suburbs, we’re beating them soundly. Take this for example:

1.47 acre house – with access to Wheatley Schools

140947216-165[1]

versus this:

Duc & Elliot built good houses in Cupertino

2059976803-220009[1]

Oh yeah. Beaten.

More importantly, I think we’re even making progress against Doomedhattan with its Doomed Bankers.

For example, some of you may recall that the “smallest apartment in the city” at 175 sqft sold for an astounding $150,000. At the time, it made all the headlines!

Do the math people. Is it any wonder why all those Bankers failed and our VC succeeded? $150,000/175 is a mere $857 per square foot. Palo Alto… even Cupertino can beat that on most days!

Great work everyone! Don’t worry… 2010 is the year we’ll beat Manhattan and take the reign of “most expensive”! It’s our destiny!

Comments (6) -- Posted by: burbed @ 5:05 am

February 24, 2010

Campbell, the Switzerland of the Bay Area

The new hot spot in Silicon Valley? That’s right, Campbell!

 

Along the cul-de-sacs that eddy out of Cambrian Drive, a civil war is being fought on battlefields with names like Sweetbriar and Stonehurst, where residents are waging a determined campaign to get into what they are certain is Silicon Valley’s most desirable dwelling destination.

San Jose’s city limit is only a few hundred yards away, but that’s not the velvet rope they’re trying to slip under. These people are attempting to drive a stake through the municipal heart of the Bay Area’s biggest city, planting yard signs that rise like middle fingers to declare: “We’re For Campbell Annexation.”

That’s right, Campbell. These days everybody wants to be in Campbell.

“To me, it’s more prestigious to say we’re in Campbell,” explained Lisa Dow, a real estate agent who lives in this unincorporated pocket of Santa Clara County that wants no part of San Jose. “Campbell is kind of the hip place now. Affordably hip.”

With the city’s sixth hotel — a 162-room Courtyard by Marriott on Creekside Way — opening Thursday, and with businesses such as Katie Bloom’s Irish Pub and Chacho’s Mexican restaurant moving to its downtown shopping district from San Jose, Campbell is viewed by some of its most recent transplants as the “anti-San Jose.”

Campbell sits comfortably at the hub of San Jose, Los Gatos and Saratoga, much as Switzerland forms a beautiful bull’s-eye amid France, Germany and Austria. According to Courtyard general manager Michael McClintock, Marriott picked Campbell in part because its guests can step out the door and board a light-rail train to HP Pavilion for a Sharks game, or be at eBay’s headquarters in a matter of minutes. Campbell is in the middle of everything.

“People used to say we were the next Los Gatos,” said Low. “They don’t say that anymore.” Not long ago, the merchants association from Los Gatos — with its famously bustling little downtown — sought advice on how to generate foot traffic from Campbell.

Natasha for this find!

Wow! Who knew that Campbell was the Bay Area’s Switzerland! Or that it was such a hip and happening place! Heck, it’s going to be the NEXT Los Gatos. THE NEXT LOS GATOS! Wow!

Let’s just say that NY and Washington DC had best be shaking in their boots. With San Francisco, Palo Alto, Cupertino, and now Campbell – the Bay Area is fast becoming the place to be in America.

What this really means is that if you haven’t bought a place in Campbell yet, you really should because soon it will be too late and you’ll be priced out forever.

Let’s have a vote: which store will next move into the Pruneyard?

1. Tiffany’s?
2. Nordstrom’s?
3. Nieman Marcus?
4. Apple Store?
5. A Wolfgang Puck restaurant?

Comments (26) -- Posted by: burbed @ 5:45 am

February 23, 2010

Dueling houses in the city of San Mateo

Thanks to Burbed reader Sam for this find and write up! (Unfortunately this got caught up in my spam folder, so the situation has changed since the original write up…)

Here we go!

Oh yeah- it’s dueling houses time in the city of SM!  Both 500K.  Both 3 bedrooms. One has two baths, but only has 1 car garage; the other has 1.5 baths and a 2 car garage. Which house will prevail?!

Fighting in the dark gray shorts, priced at 500K, this house comes with 3 bedrooms, 2 bathrooms and a 1 car garage in a spacious 1080 sqft of living space perched on a spawling 5200 sq ft lot.

Beds: 3
Baths: 2
Sq. Ft.: 1,080
$/Sq. Ft.: $462
Lot Size: 5,202 Sq. Ft.
Property Type: Detached Single Family
Stories: 1
Year Built: 1955
Community: South Shoreview
County: San Mateo
MLS#: 81004982
Source: MLSListings
Status: Active This listing is for sale and the sellers are accepting offers.
On Redfin: 12 days
Great Opportunity for fist time buyer, excellent area, ready to move in! close to shoping Centers and transportation. Beaware of DOGS ON THE PROPERTY)

Fighting in the light gray shorts, priced at 500K, this house comes with 3 bedrooms, 1.5 bathrooms and a 2 car garage in a spacious 1010 sqft of living space perched on a spawling 5500 sq ft lot.

Beds: 3
Baths: 1.5
Sq. Ft.: 1,010
$/Sq. Ft.: $495
Lot Size: 5,460 Sq. Ft.
Property Type: Detached Single Family
Style: Ranch
Stories: 1
View: Neighborhood
Year Built: 1955
Community: South Shoreview
County: San Mateo
MLS#: 81004737
Source: MLSListings
Status: id="redfin_widget_GlossaryTerm_0" dojotype="redfin.widget.GlossaryTerm">Pending With Release This listing is in escrow and all contingencies have been fulfilled. "With Release" means that there’s a release clause with the offer stating that the buyer is trying to sell his current home before closing. A release clause lets the seller back out of the deal if the buyers can’t sell their home within a set time frame.
On Redfin: 13 days
Rancher oversized corner lot. Great conditions, ready to move in. Double window pannel, additional room with out permit. This house has a large yard with a covered patio. See it, make your offer, get the deal!

One house is on Kehoe- who wouldn’t want to live on a street terminating into a freeway entrance!  Talk about convenient access to transportation!

But wait, the other is on Norfolk and Kehoe!  Corner lot bliss!  Not only can you get on the freeway faster than you can slam and tint a late-90s civic, but you also get to live on the avenue d’grace that is Norfolk.  Don’t forget to budget a little extra to put up the chain link fence in your front yard- you wouldn’t want to fall out of step with your neighbors!

BUT WAIT THERE IS MORE!

Before you think dark shorts will give up without a fight- make sure you read the realtor’s description "Great Opportunity for fist time buyer, excellent area, ready to move in! close to shoping senters and transaportation. Beaware of 9DOGS ON THE PROPERTY)". (sic)
THAT’S RIGHT YOU GET SHOPPING SENTERS AND TRANSAPORTATION!!!  I for one don’t know anywhere else in the Bay Area you can find shopping senters and transaportation.  Transa-portation.  Dayumn. 

NOT ONLY THAT BUT IT COMES WITH 9DOGS!  Sweet Jesus, hallelujah!  The lord has come down from on high and found me my dream house complete with a breeding operation/dog fighting ring.  LAWDY-ME I’MA SAVED!

I’m a little afraid of "fist-time" buyers, but hey, San Fran isn’t too far away, I guess it’s time for me to start broadening my horizons.

Man, and to think that these places sold for 750K just 4 years ago. I-N-S-T-A-N-T E-Q-U-I-T-Y!!!!!!!!!
What!?!? They are both short sales!?  The winner gets sold. The loser ends up REO.  Will this end in a draw?

So far, it looks like 1301 is winning… but who knows! It’s going to be a photo finish!

Comments (28) -- Posted by: burbed @ 5:23 am

County has asked … to demolish the house. Los Gatos.

1200 SQ FT HOME ,NEW ROOF, ELECTRICAL, ANTIQUE BEDROOM& EVERYTHING – $20000 (los gatos)


Date: 2010-02-03, 4:50PM PST
Reply to: sale-tkk3y-1584878278@craigslist.org [Errors when replying to ads?]


BEAUTIFUL AND STURDY STRUCTURE.
ROOF NEW MADE IN 2005.
EXCELLENT CONDITION.
APPX. 1200 SQ FEET HOUSE.
YOU TAKE EVERYTHING AND MAKE YOUR OWN HOUSE.
ANTIQUE STYLE BEDROOM IN HEXAGONAL SHAPE.
EXCELLENT FIRE PLACE.
EVERYTHING WORKS.
INSTALLMENTS ACCEPTABLE.
COUNTY HAS ASKED FOR MANY THINGS – ONE OF THEM IS TO DEMOLISH THE HOUSE.
GAS TANK ETC. – IF YOU WANT THE PRICE WILL ADD UP.

Thanks to Burbed reader RemodelNerd for this peculiar craigslist find.

Here’s what he wrote in to say:

Even though it’s been awhile since I checked in, just wanted to let you know I still get my daily dose of Burbed.  I found this fascinating post on Craig’s list and I just know you needed to see it (just in case the link stops working, I pasted the entire page below).

http://sfbay.craigslist.org/sby/mat/1584878278.html

At first I was excited to think one might be able to obtain a house for $20,000 in Los Gatos, but as I started reading the details, I began to smell a rat.  For one thing, apparently the county has asked for “many things”, including “to demolish the house.”  Wow.  Talk about your liberty-stealing, all powerful meddling government officials!  This is a house in excellent condition, with an excellent fireplace, and “everything works”!  How dare they ask “to demolish” it.

Also, if I want the “gas tank, etc.” the price will add up.  This is where I start thinking the whole thing is just some kind of bait and switch- add up to what?  Kind of an important detail, don’t you think?  Probably at this point I need to just turn the whole thing over to the experts at Burbed-I’m sure they can make more sense of it than I am able to.   

Damn gubernment! Always taking and taking and taking. Always making ridiculous demands… like asking to demolish the house. Quick! Call the Tea Party! This is something they would/should care about!

That said, what the heck is going on in this listing? Can this really be $20,000? Any Los Gatos experts here?

Tags:
Comments (3) -- Posted by: burbed @ 5:06 am

February 22, 2010

Affordable house in Burlingame – contractor’s special

Beds: 3
Baths: 1
Sq. Ft.: 1,340
$/Sq. Ft.: $444
Lot Size: 9,400 Sq. Ft.
Property Type: Detached Single Family
Style: Ranch, Traditional
Stories: 1
View: Neighborhood
Year Built: 1941
Community: Burlingame Gardens
County: San Mateo
MLS#: 81005669
Source: MLSListings
Status: Active This listing is for sale and the sellers are accepting offers.
On Redfin: 6 days
CONTRACTOR’S SPECIAL: Turn a blight into a beauty. Deferred maintenance residence on a mixed use street. Triangular shaped lot. Bonus rooms and bath behind garage (legality unknown), some dual paned windows, hardwood floors and period details.

Thanks to Burbed reader Jeff for this find!

Guess what everyone! Burlingame is now officially affordable! You heard it here first.

That stuff in the roof? Probably just some dirt that needs to be painted away. I mean, it’s located a little close to a few cars:

image

So… it’s probably just a little soot. Nothing some paint can’t fix.

That said. If you could keep the interior as is, you might be able to charge admission for it:

image

Hey… Is that a Hidden Mickey?

I think there’s a lot of potential here. And just think of all the opportunities with that funky interior, and the nifty triangular lot on the outside! The Burlingame Mystery Mansion perhaps?

Comments (5) -- Posted by: burbed @ 5:54 am

February 21, 2010

Solution to California’s Budget Woes: Tax Renters

Let’s face it, California’s budget is a mess.

It’s revenues are mostly from income, which means that in bad times a vicious cycle develops (layoffs->lower tax revenue->government layoffs->reduced consumption->layoffs->etc).

It’s expenses are locked in by voter initiatives. Now, as we know, California has the smartest people in the world – and that’s why voters pass propositions that result in situations where schools are required to have after school programs like teaching juggling and sushi rolling, while cutting teachers for basic programs. Innovative!

But there’s hope. Because California, especially the Bay Area, has the smartest people in the world, there’s a lot of innovation. Like the highly innovative Prop 13 – which enables companies to pay less property taxes than some homeowners, and enables some homeowners to pay 1/10 the property taxes than their neighbors. Coming up with a tax scheme that only impacts families in the future and immigrants to the state, while creating a landed-class, is definitely the kind of out of the box thinking that the state is famous for.

So now, let me share with you this fantastic proposed solution to California’s budget woes from the Mercury News’ message forums:

Tuesday, 2/02/2010 – 9:32 a.m. PST — Why don’t they just start taxing renters?
dlawrence

Renters are using the same services as homeowners, so why don’t they just pass a renter’s tax?  Maybe that would get a lot of the lazy people off their butts and get them to buy a house and really be a part of their community – rather than just a transient drain on their neighborhood until they move on to some other short-term situation.  There are so many renters out there that there must be a way to monetize them.  Maybe pass a residency tax that affects everyone, but if you’re already paying property tax, you get exempted from the new residency tax.  Then, force landlords to get a SSN from all renters and make sure the IRS has their address – just to make sure that the illegals don’t get away without contributing to their society the way homeowners have been doing for years.

Oh my god! This is an even better idea than the tuition tax, and other taxes on children, floated on this site earlier! Why aren’t we taxing lazy renters?

But wait, there’s more!

Tuesday, 2/02/2010 – 6:55 p.m. PST — Stay in school, then
dlawrence

Take a walk through most communities that are rental-majorities.  Sure the majority of renters would love to participate in ownership but *news flash* they’re uneducated or undereducated for this region.  Maybe if they started applying themselves and showing some initiative, then they’d start making the kind of money it takes to own something.  Also, *news flash* if you can’t afford a house in this market and you want one, you’re definitely in the wrong place.  Move to the hills of Tennessee or something.  Houses here are afforable now, and available to anyone who has a good education and is willing to invest in a long-term future and not live month-to-month.

Is it really a privilege to own property? Didn’t the homeowners pay taxes on the money that they earned to buy that property (think double-taxation)?  Aren’t most of them under water on their mortgages (you don’t need to think about that one)?  Doesn’t it take money to maintain that property to what the community and renters deem appropriate levels (think code enforcement)?  Don’t homeowners need to maintain insurance in case some dumb_ss falls on their doorstep (think lawyers)?  Maybe with your logic, there should be a tax placed on getting sick – because that’s about as much of a privilege as what you’re alluding to.  No, ownership is a right if you have the initiative and guts to do it – and nobody should tax a right.

Renting is a privilege more than ownership. Renters use up a huge chunk of community services and they don’t pay squat for it – and then they get to deduct a portion of their taxes because the landlord already paid property taxes that they’re benefitting from.  That’s just stupid.

Seriously. Mountain View’s a great example – it’s very affordable now, yet 50%+ plus of the population still rents. Those people should be deported!

But wait, there’s more!

Tuesday, 2/02/2010 – 6:40 p.m. PST — HomeyDogg doesn’t even know what clue means
dlawrence

First of all, I’m not a ‘sir’, but I suppose a predjudiced person such as yourself might assume I’m a ‘sir’ because I made what you feel are good arguments.  I shudder to think what you would have called me if I had made no sense.

Just because you are a renter, and probably paying less in rent than the property owner is paying in property taxes for your little unit, doesn’t mean it’s right or fair.  Watch the news – most property owners are completely screwed in this economy and the renters are reaping all the rewards of their hard-earned investment.  The property owner is just trying to make ends meet and usually being taken advantage of by the deadbeat renters out there who could care less what happens to their community because they’ll just be moving out once they miss enough rent payments, do enough damage to burn through their security deposit, or have too many bill collectors or bounty hunters stalking them at their residence.  Grow up.

Indeed. Did you know that in the California Constitution it guarantees that landlords will have profits? Oh wait… it doesn’t? WE NEED A PROPOSITION FOR THAT, STAT!

(BTW, most major landlords have their tax rates set in 1978… so… uh…)

But wait, there’s more!

Tuesday, 2/02/2010 – 10:12 a.m. PST — I don’t think that’s
dlawrence

I don’t think that’s completely true – I know of a lot of landlords that had their property taxes go up year-over-year yet they had to reduce rents because of the poor economy.  If their taxes went up, yet the renters are paying less, then something that was ‘factored in’ all of a sudden got ‘factored out’.  Since most rental real estate is a money losing proposition, and rents are still a heck of a lot lower than the relative cost of ownership, renters are getting a great deal.  They should be taxed to help ‘spread the wealth’ and pay their fair share of the services they’re using.  Everyone knows that renters have more police calls per capita than homeowners, and crime rat
es are higher in predominantly renter-heavy neighborhoods than owner-occupied neighborhoods, so why not tax them to pay for the services they’re using?  Homeowners have been paying huge amount of tax and carrying the burden of public services forever – yet many of those services go to people who don’t own a home and pay property taxes.  Why is that fair?  I say tax them and the problem will be solved.

Also, if they’re getting a ‘renter’s credit’ then how is that fair?  Get rid of the renter’s credit and make them pay their fair share.

Finally – this gets to the heart of how we can solve California’s budget woes: tax the poor.

If we tax the rich, they’ll leave! Local stores like French Laundry will layoff thousands. But if we tax the poor, they’ll leave! And then we won’t have poor people to support, or to look at!

Win-win!

Uh oh… there’s a dissenting view on the site:

Tuesday, 2/02/2010 – 10:25 a.m. PST — Sick of Prop 13!
JBeez

My neighbors bought their house 30 years ago during a time when home values were more in line with salaries. Now, they are only paying $1700 a year in taxes receiving a pention and sucking from Social Security that I may never see! How are they contributing to our schools and other programs? I pay close to $20,000 a year in my property tax and I live right next door with a similar house. How is that fair? They are taking from our community and giving nothing back! When are we going to change Prop 13 so we can STOP taking from our children? What is wrong with CA? STOP prop 13!!! Even if we only increased their taxes by 3% this state would be in a better situation!

Three words: Socialism Loving Nazi.

It gets worse…

Tuesday, 2/02/2010 – 3:17 p.m. PST — And another thing on Prop 13
JBeez

Thank you “your daddy” and shame on you Fat Granny for making such an uneducated comment about “rich yuppies” paying too much for homes!  That is the most rediculous thing I have heard!  We are living here because we are entrepreneuers and if it weren’t for us, you wouldn’t have some of the programs that we do!  Also, as “your daddy” stated, why can’t I live in the area I grew up?  I want my kids to grow up in a nice area so I had to pay this price!  Do you realize Fat Granny and all you other people who are for prop 13 that in 1978, before prop 13 we had a surplus!  Since then, we have had to cut public services, raise other taxes (CA sales tax is amoungst the highest in the nation!), drop school funding (we went from #5 in the nation to #40 in 1985 and is still dropping), road maintenance is down and because you empty nesters wont move we now have ugly tract homes covering our east foothills to make room for new homebuyers!  You see… property taxes are how we pay for things where we live.  Because of Prop 13 limited the sales tax to 1% of the assessed value of each property; and  limited annual increases in assessed values to the lesser of 2% or the increase in the cost of living for the year, with the exception that upon the sale of a property, the assessment would be updated to the transaction price. The effects of this have been a huge impact on the well-being of Californians.  If you can’t understand what I am saying, let me explain… THAT CAUSED HOUSE PRICES TO SOAR! Not rich yuppies paying too much for homes.

Even Warren Buffett commented on the iniquities and inequities of this system and pointed out how he bought a home in CA in the early 70’s with a current market value of $4M and was only paying $2,200 a year in taxes but bought another home in that same neighborhood for half the value in the mid 90’s and was paying $14,000 a year.  His point you ask?  The tax rate on the second house — same neighborhood, same owner, same ability to pay — is roughly 10 times the rate on the first house.  The emphasis is on “the same ability to pay”!!

This might be too hard for you to understand Fat Granny so maybe you should just go eat a dougnut!

This Socialism Loving Nazi is using facts as if they’re the truth. And he has typos.

Everyone knows that facts come from the gut. And only arguments with typos are valid.

Let’s call him on it:

Tuesday, 2/02/2010 – 7:32 p.m. PST — Are you really an entrepreneuer?
dlawrence

“Entrepreneuers” like you should be ashamed of yourself – and I hope your endeavors don’t include anything related to proper spelling, or we’ll all be in a “rediculous” situation, at least those “amoungst” us who have anything to do with what your endeavors produce.  Maybe you own a “dougnut” shop and it just doesn’t matter…

Maybe you are a rich yuppie like you portend in your writing – and studies have clearly shown that most rich yuppies are stupid, so your spelling might therefore be part of your genetic disability.  In that case I’m sorry for pointing it out.  Or, maybe you just got outgrown by this area and you’re so mad that you can’t keep up with it that your brain has stopped working.

BOOYAH. You got owned! Studies show that young people are stupid.

It’s clear what the next steps are:

1. California needs to pass a proposition to tax renters and to guarantee that landlords will have increasing profits every year.

2. California needs to pass a proposition to tax poor people. Let’s drive’em out of the state for good.

3. California needs to pass a proposition to limit voting to people who own houses and are 55 years old+,

Are you with this plan? Or are you with the terrorists?

Comments (241) -- Posted by: burbed @ 5:35 am