[olecapt]

Originally Posted by barryhussein

To find out what exactly the fee covers (the realtors rarely know). Also, to find out what the transfer fee is, as it can very from zero to 3000 usd. I would also inquire about any pending special assessments. And what will the gate opener cost me, as I'm almost sure the bank will not be able to produce one.

This place DOES exist, along with 21,000 others. It's owned by Citibank.
Rancho Lake Dr. to be more precise.

I think the area OK but just. Across the street from the Texas Station.

Probably take 5K less than asking.

Note that is a quite small unit. 649SF. I would also want to see it...make sure it ain't beat to a pulp.

Still - low enough price that you could fix it and still come out ahead.

Have not been in that complex in a long time so I don't remember it well. Just down from the Budget Suites though which is OK.

Question how well you will do getting info from HOAs. What you really need is the management company if there is one. Best source of info is often the MLS or the neighbors. HOAs often can't be reached.

Taxes will reset to a value based on the sale within a year or so. It ends up around 1% when it settles.

[MR77]

I was not aware that my property taxes would adjust down to 1 percent. No one ever explained that to me when I bought my house. If that is correct, I should be seeing a nice drop in my escrow payments once it settles... I am paying much more than I should based on the price of my home.

[olecapt]

Originally Posted by MR77

I was not aware that my property taxes would adjust down to 1 percent. No one ever explained that to me when I bought my house. If that is correct, I should be seeing a nice drop in my escrow payments once it settles... I am paying much more than I should based on the price of my home.

YOu will get a card in the mail in the spring. If it ain't down go talk to them. It is the Assessors office. They will take care of it. Generally run pretty efficiently.

[Randy Culture]

This decline will feed on itself until prices are down 80% from the peak, just like I predicted in 2005, when many mocked my opinions.
Hopefully, this will lead to the collapse of the welfare state when tax revenues disappear.

Has Clark County started to cut gov. programs yet? Or are they still being racially extorted by "community activists"?

[olecapt]

Originally Posted by Randy Culture

This decline will feed on itself until prices are down 80% from the peak, just like I predicted in 2005, when many mocked my opinions.
Hopefully, this will lead to the collapse of the welfare state when tax revenues disappear.

Has Clark County started to cut gov. programs yet? Or are they still being racially extorted by "community activists"?

There is little revenue in Nevada due to home sales and it is probably not down a lot if at all. Total value of property sold is close to the 2006 level and much higher than 2007. Property tax is little effected. Note that the property tax on most homes continues up or remains flat due to the effect of tax increase limitations.

The end is in sight...unless the whole ecomony crashes or some such calamity. Probably down a third or 40% from peak.

[Daddys///M3]

Originally Posted by Randy Culture

This decline will feed on itself until prices are down 80% from the peak, just like I predicted in 2005, when many mocked my opinions.
Hopefully, this will lead to the collapse of the welfare state when tax revenues disappear.

Has Clark County started to cut gov. programs yet? Or are they still being racially extorted by "community activists"?

What exactly are you basing this on, as it is entirely unrealistic IMO. I bought my home for $315K in 2005, at peak it was worth $365K. By your calculations my home will be worth $73K, or about $38 per sq ft. With all due respect home prices have not been that low since the mid 1970's, and I really don't think they will be again barring some unforeseen total collapse of the economy.

[airics]

Originally Posted by olecapt

YOu will get a card in the mail in the spring. If it ain't down go talk to them. It is the Assessors office. They will take care of it. Generally run pretty efficiently.

Is it 1% of sale price or assessed value? If i go to the office, can i do this now?

[olecapt]

Originally Posted by airics

Is it 1% of sale price or assessed value? If i go to the office, can i do this now?

Actually I had the timing wrong. It is in December when the postcards are mailed. I would wait until I got one. If you don't get one go see the assessor in January. Don't wait. They resolve these things in January.

The 1% is an approximation. Generally a little less than that except in NLV where it is a little more. The actual calculation is an arcane one involving evaluating land and structures separately and imposing a local tax rate. You don't want to go there.

[daveyjones978]

Originally Posted by olecapt

Actually I had the timing wrong. It is in December when the postcards are mailed. I would wait until I got one. If you don't get one go see the assessor in January. Don't wait. They resolve these things in January.

The 1% is an approximation. Generally a little less than that except in NLV where it is a little more. The actual calculation is an arcane one involving evaluating land and structures separately and imposing a local tax rate. You don't want to go there.

I was always under the assumption that it was 1% of FMV for new construction, and approximately 3% of FMV on a resale?

[olecapt]

Originally Posted by daveyjones978

I was always under the assumption that it was 1% of FMV for new construction, and approximately 3% of FMV on a resale?

Nope. It ranges from 0.6% or so to as much as 1.2% dependent on where and how long owned and such. As I said it calculates to be .9% to about 1.2% but that is then modified by the max increase of 3% per annum for owner occupied and 6% for not as the max increase.

Plan on 1% except in NLV and you will not be unhappy. Plan on 1.2 in NLV.