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Old 08-01-2011, 09:01 AM
 
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$7 million? That's funny... Almost as overpriced as Linda Pace's old unit on the top two floors of Camp Street. As for the 'prestige' of owning something that an NBA player once owned: Get real. They're sport players, not unicorns.



BN
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Old 08-01-2011, 09:19 AM
 
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Quote:
Originally Posted by BenjaminNicholas View Post
$7 million? That's funny... Almost as overpriced as Linda Pace's old unit on the top two floors of Camp Street. As for the 'prestige' of owning something that an NBA player once owned: Get real. They're sport players, not unicorns.
Do you know how much collector's crap there is out there? Loads of people buy stuff because it once belonged to a famous figure, and that alone increases its value.

I was being a little facetious about the extra million dollars, but I would not be at all surprised if it's previous owner's name was a marketable element for the agent selling it. Just the fact that there's an article devoted to it shows that people are interested in it. I'd be shocked if the selling agent didn't market it as "The former home of David Robinson."

It's not something I personally care about, but plenty of people do, including those with 7 million to spend on a house.
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Old 08-01-2011, 09:30 AM
 
Location: San Antonio
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Originally Posted by Chaka View Post
Do you know how much collector's crap there is out there? Loads of people buy stuff because it once belonged to a famous figure, and that alone increases its value.

I was being a little facetious about the extra million dollars, but I would not be at all surprised if it's previous owner's name was a marketable element for the agent selling it. Just the fact that there's an article devoted to it shows that people are interested in it. I'd be shocked if the selling agent didn't market it as "The former home of David Robinson."

It's not something I personally care about, but plenty of people do, including those with 7 million to spend on a house.
Truth be told, people with that kind of money won't care that the house was owned by Robinson. The new buyer will probably have much more than he did, and it'll probably be a second or third home. They don't tend to get star struck.
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Old 08-01-2011, 09:49 AM
 
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Originally Posted by kevcrawford View Post
Truth be told, people with that kind of money won't care that the house was owned by Robinson. The new buyer will probably have much more than he did, and it'll probably be a second or third home. They don't tend to get star struck.
Perhaps for that house, but I guess you've never met wealthy collectors....Check out some of the houses in the LA/Hollywood Hills area. Whom their former owner is is usually a huge selling point.
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Old 08-01-2011, 09:52 AM
 
Location: San Antonio
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Originally Posted by Chaka View Post
Perhaps for that house, but I guess you've never met wealthy collectors....Check out some of the houses in the LA/Hollywood Hills area. Whom their former owner is is usually a huge selling point.
Oh I have, but there's a difference between a local sports superstar, and a house owned by say Marilyn Monroe, etc. SA is a different world (thank God).
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Old 08-01-2011, 10:53 AM
 
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Originally Posted by ddeel View Post
The article said the house he is moving into is valued at $2.75 million. The one on the market is $3.95 million. Perhaps he didn't like the water bill at his old house Shavano is a tad closer to SACS since you get the option to take Huebner instead of 1604 being your only option. Obviously there are neighborhoods closer but they are pretty unpopular with alot of people on this forum so maybe he took their advice.

Yes I think it is ridiculous what we pay our athletes and movie stars but that is what the public has decided they are worth. I'd say SA is pretty lucky we have someone with the caliber of David Robinson who stayed here and spent alot of his money on the people of our city--money he had because he didn't waste it on drugs, multiple "baby-Mamas" and an "entourage". One only had to listen to his speech at his Hall of Fame induction compared to Michael Jordan's to see who the man really is, regardless of what he is selling his house for.
Assuming that the BCAD value is $3.95 million but listing price is $7 million, then that means he is paying taxes on a value($3.95 million) that is 42% less than the market or listing value ($7 million). Please correct me if my math is wrong here.

I wish I could pay taxes on only 42% of the actual market value of my home but that won't ever happen. I am currently paying taxes on about 75% of the actual market value.

I am no realtor but my question is if the house actually sells at $7 million then does that mean the new homeowner have a property tax increase or continue to keep the house valued at $3.95 million and pay property taxes based on that amount?
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Old 08-01-2011, 11:08 AM
 
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Originally Posted by MattTx View Post
Assuming that the BCAD value is $3.95 million but listing price is $7 million, then that means he is paying taxes on a value($3.95 million) that is 42% less than the market or listing value ($7 million). Please correct me if my math is wrong here.

I wish I could pay taxes on only 42% of the actual market value of my home but that won't ever happen. I am currently paying taxes on about 75% of the actual market value.

I am no realtor but my question is if the house actually sells at $7 million then does that mean the new homeowner have a property tax increase or continue to keep the house valued at $3.95 million and pay property taxes based on that amount?

Well, when we bought our house, the taxes were at about 50% of the market value. They doubled the next year. And increased by 50% each year, as total market value has also tripled, tho I don't believe we could actually get the suggested price for our house, it still needs work (the land itself is valued substantially more than the house), but it's based on asking prices of surrounding properties (according to the tax people). We now, after 6.5 years, pay pretty close to market value on taxes.

So, I'd guess that on that house, it'd probably get re-valued higher in the year or two after sale. However, if it really is out of range, then maybe BCAD value won't ever catch up.
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Old 08-01-2011, 12:49 PM
RGJ RGJ started this thread
 
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Here's kinda of how BCAD works. First, the have access to all the MLS information. But since this house is not in MLS at this time, BCAD will never know the final sales price(Texas is a non-diclosure state). If the new buyer's takes out a mortgage on the house, then BCAD will have the amount of the mortgage. However, BCAD has been know to try and "adjust" the assessed value of a home based on the inital asking price. The final analysis is that the value will increase. How much depends on how much information BCAD gets. And possibly the reason the assessed value on this house is lower than the market value is that there are companies/attorneys that specialize in representing homeowner's and commercial property owners to help in reducing the assessed value.
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Old 08-01-2011, 12:56 PM
RGJ RGJ started this thread
 
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Regarding whether someone would pay more for the house simply because it belonged to David Robinson. There might be some people who think that way, but for the most part, nobody would pay more for that reason aone. However, they might be inclined to pay more because they figure David Robinson would not build an expensive house and cut corners in material or workmanship or amenities.
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Old 08-01-2011, 03:09 PM
 
Location: san antonio texas
1,805 posts, read 2,178,575 times
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Quote:
Originally Posted by SilverCreek78250 View Post
That place would do in a pinch...

It occurs to me that the monthly utility bill for electric, water and pool care are probably more than my monthly house payment!
pool care? there's an apartment complex in SA called the silver creek that has a horrible rating:

Silver Creek Apartment Ratings, Reviews, Map, Rents, and other San Antonio apartments for rent from ApartmentRatings.com

as well as a terrible looking pool:



they also like to sue you for non-payment of rent *after* returning your rent check for that month. judges also like to laugh them out of court for that.

hope you arent affiliated with them
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