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Rubbing is Racing!!
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Discussion Starter · #1 ·
Good news...... is I recieved a letter yesterday from the riverside tax assesor stating that they have reviewed values and decreased my taxes for 2008 by 143K:D

Bad news..... is my home has gone from 562K to 419K in 2 years....lol:|err

Atleast my taxes will be a decent amount cheaper this year and I didn't even have to apply for a prop 13 change:)devil:)sphss
 

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Ultra 27 Shadow
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Got my letter as well the other day. Nice to know taxes will be less this year:) Sucks to know how much my home has dropped:|err, but I love my house and am not planning on moving anytime soon so who cares.:D
 

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Rubbing is Racing!!
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Discussion Starter · #5 ·
Got my letter as well the other day. Nice to know taxes will be less this year:) Sucks to know how much my home has dropped:|err, but I love my house and am not planning on moving anytime soon so who cares.:D
Did you ever try and change it yourself?

Be cool if Countrywide sent be a letter of good faith and lowered my mortgage 100K today:D:)hand:D
 

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A $143K drop? Wow, they only dropped mine by $16K. I don't want my properety valuse to drop but I think I'm going to get hosed by the tax man again...
 

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I bought this after my divorce but now I'm looking at my options because homes in this area are going into foreclosure faster than I can spell foreclosure. I'm guessing, on paper, I've lost roughly $175-$200K. Talk about a bad investment on my end. I love my place and aside form the moral crap I keep wondering why I am even sticking around. I doubt I could even rent it out and afford another place closer to work to live. I hate thinking about it but this sucks.
 

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Sure glad I bought in 2000.:D Even though mine have gone up since I built the addition. Most of my friends have bought in the last couple years. I dont envy them and their 2% taxes or whatever on a 5-600k home.:)sphss
 

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Ultra 27 Shadow
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Did you ever try and change it yourself?

Be cool if Countrywide sent be a letter of good faith and lowered my mortgage 100K today:D:)hand:D

I filled out the form and submitted it back in October. They stated the will reasses each year automatically and adjust as needed. They also stated we are protected and that when the propery values do climb back up it WILL NOT and cannot be asessed for higher than the original purchase price.
 

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Rubbing is Racing!!
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Discussion Starter · #16 ·
Sure glad I bought in 2000.:D Even though mine have gone up since I built the addition. Most of my friends have bought in the last couple years. I dont envy them and their 2% taxes or whatever on a 5-600k home.:)sphss
yeah.... I specifically bought in the newest area with a 1% tax bracket. The area dose have a $800.00 mello roos that lasts for 20 years (built in 94)

I'm in it for the long haul and I am fortunate to like my house and area. It will still make you cry when you see what you can get today for the amount I spent in 06;):):)punch
 

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We got ours last week. Went from $621,000 to $472,000 so it was lowered $150,000. I still think it's about $50-$75k too high though unfortunately.
 

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Rubbing is Racing!!
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Discussion Starter · #18 ·
We got ours last week. Went from $621,000 to $472,000 so it was lowered $150,000. I still think it's about $50-$75k too high though unfortunately.
For the area perhaps.... I think the two of us could sell for a little more than the assesed values with what our houses are. Still extra beer $$$:D:)devil
 

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Ultra 27 Shadow
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I bought this after my divorce but now I'm looking at my options because homes in this area are going into foreclosure faster than I can spell foreclosure. I'm guessing, on paper, I've lost roughly $175-$200K. Talk about a bad investment on my end. I love my place and aside form the moral crap I keep wondering why I am even sticking around. I doubt I could even rent it out and afford another place closer to work to live. I hate thinking about it but this sucks.

I hear what you are saying and I am sure that thought has crossed many people's minds. It has crossed mine for sure, but I can afford my payment and love my house. Both the wife and I have almost 800 credit scores and to walk would kill that. Good credit is like having an ace in your hands. You do not have to play it, but you have it if you need it. Plus, morally it is tough to swallow. It would be a huge sacrifice to to save $800 or so a month. If you like the home and where you are at I would focus on paying down the balance and wait it out. Now if it gets EVEN WORSE well who knows then! JMO

Mike
 

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yeah.... I specifically bought in the newest area with a 1% tax bracket. The area dose have a $800.00 mello roos that lasts for 20 years (built in 94)

I'm in it for the long haul and I am fortunate to like my house and area. It will still make you cry when you see what you can get today for the amount I spent in 06;):):)punch
Ya definitely sad! On a positive note....it's almost time to buy another property ro two as an investment.

<-----glass half full kinda guy :D
 
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