Houses are getting 20-50 offers and going for 10-20% over asking, which for many houses amounts to $100k.
We bought our home 2 years ago & it has appreciated about $200k. It’s a “normal” house.
Damn Californians gonna make it just like what they left.
Good for you though, I suppose. Not really considering all my former "neighbors" bring with them.
It just means you can’t afford the property taxes.... I want to say the prop tax rate is 5800$ per 100k value.... so in the gentleman’s example he’s now paying 12k more per year.... the average price for a house is 250k and the price went to 450k, this guy is paying 26k a year or 2 k per month to own your house.... not many incomes afford this! It’s complete BS
Weirdly, I assumed your tax laws re: property value would be better than CA. One of the few things that passes the libtards off here is that several decades ago, Prop 13 passed here which limits the ability to adjust property taxes up once you buy a place. They can only reassess upon a new purchase. You can bet they are trying to take that away and tard voters voted to modify it for inherited properties this year...
So yeah, I suppose that is something I didn't think of. Sucks.