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Washington, DC suburbs in Maryland Calvert County, Charles County, Montgomery County, and Prince George's County
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Old 01-01-2008, 02:42 PM
 
29,462 posts, read 33,705,926 times
Reputation: 11093

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Quote:
Originally Posted by lscalder View Post
If you have an issue with my post maybe you need to contact channel 7 news and question them why did thye report that Pg county have the highese real estate appreciation. Channel 7 news reported last night and I got this article on channel 7 news. Why turn something positive into negative. Why not leave something that is positive positive. Some people just love negativity.
I encouraged you to keep cheering for PG. However there is a difference between emotion and finance. Commenting in a forum is emotional. Buying/Selling a home or investing in a shopping mall is financial. Many folks are taking a severe financial beating because they bought/invested with the heart and not the calculator. I am just trying to bring a sense of metrics to a great dialog. Just like with test scores one has to look at data with a keen eye for interpretation. Buying a home because of previous appreciation is no different then buying a stock because of a previous run up. Remember buy low and sell high. Perhaps your data is suggesting that now is the best time to sell your well appreciated home in PG to someone who is buying on emotions. Cheers up for PG. Please find attached the release by the bureau of taxation and assessment and the referred to report by channel 7.

http://www.wjla.com/news/stories/1207/484100.html

http://www.dat.state.md.us/sdatweb/stats/08rvpr.html

http://www.dat.state.md.us/sdatweb/stats/08rvcp.html

http://www.dat.state.md.us/sdatweb/stats/08rvrcbc.html

Last edited by TuborgP; 01-01-2008 at 02:53 PM..
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Old 01-01-2008, 03:01 PM
 
217 posts, read 686,305 times
Reputation: 98
Something that has always stuck with me with this hoopla is housing prices in the $500K - $1M range leaves a lot of people out in the cold.
The monthly note on a $500K house is $2500 or so with 25% down...that is a lot of freaking money.
Is the aspect of all new housing averaging $500K or more meant to run the lower middle class (poverty) out of PG county?
I don't see a truly positive side to raising the stakes for the sake of doing so. Especially given an infrastructure that hasn't changed much.
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Old 01-01-2008, 03:05 PM
 
29,462 posts, read 33,705,926 times
Reputation: 11093
Smile The bubble has not broken and hopefully it won't

Quote:
Originally Posted by expgc View Post
TuborgP - now you've really gone and done it; you introduced some logic and caution to the great PGC cheerleader. Congrats!! Typical response, now you're the bad guy because you don't "just agree" how great PGC is.

The bubble has not broken there and hopefully it will be a soft landing. The message is not how much you have on paper but what do you have when you actually sell. As with any stock if you own Google at $800 you have not made a cent until you sell. Likewise if it falls to $600 you are not out of anything until you sell. If you bought at $100 you done well anyway. If the purchase price was $790? In this mark we should all offer caution and have a strong streak of risk aversion. Those who don't in real life are probably sales folks. In here it is ok and is food for thought what ever the perspective. Cheer on and respond on.
For my two cents this is the discussion I would love to see. Stock market investing surging in PG instead of increased retail shopping to help divert income from investments to consumables. Building for the future through the creation of legacy money to be passed down to the next generation. I want more black folk born with silver spoons in their mouths and not debt on the ledger. Here is my cheer. PG is the wealthiest major African American county in the country. Let's build it to the top 25 of all counties like Howard, Montgomery, Fairfax and Loudon with real wealth and individual wealth appreciation where individual assets far exceed liabilities. Yes where young people can inherit a million plus when their parents pass.

Last edited by TuborgP; 01-01-2008 at 03:15 PM..
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Old 01-01-2008, 03:24 PM
 
217 posts, read 686,305 times
Reputation: 98
Quote:
Originally Posted by TuborgP View Post
I encouraged you to keep cheering for PG. However there is a difference between emotion and finance. Commenting in a forum is emotional. Buying/Selling a home or investing in a shopping mall is financial. Many folks are taking a severe financial beating because they bought/invested with the heart and not the calculator. I am just trying to bring a sense of metrics to a great dialog. Just like with test scores one has to look at data with a keen eye for interpretation. Buying a home because of previous appreciation is no different then buying a stock because of a previous run up. Remember buy low and sell high. Perhaps your data is suggesting that now is the best time to sell your well appreciated home in PG to someone who is buying on emotions. Cheers up for PG. Please find attached the release by the bureau of taxation and assessment and the referred to report by channel 7.

http://www.wjla.com/news/stories/1207/484100.html

http://www.dat.state.md.us/sdatweb/stats/08rvpr.html

http://www.dat.state.md.us/sdatweb/stats/08rvcp.html

http://www.dat.state.md.us/sdatweb/stats/08rvrcbc.html
That's a lot of interesting data. I can't cheer for the state of MD when it comes to taxation as we are hit harder than most states in all forms of taxes.

The USA separated from England because of taxation. We are taxed for everything we touch presently. Property taxes are enough of a reason for citizens to revolt against those that collect them, especially when they get to the percentages the state of MD and PG county put upon us.

I remember way back when the law was passed that allowed individual counties to levy a tax on residents that equaled a percentage of the amount already due to the state. The initial amount could be as much as high as 60%. PG, Baltimore and Montgomery counties went for the full 60% whereas Charles county only collected 50%.

I lived in Charles county at the time and remarked on it.

GIMMEE A P!
GIMMEE A G!
GIMMEE A C!
WHAT"S THAT SPELL?
Taxes
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Old 01-01-2008, 03:25 PM
 
29,462 posts, read 33,705,926 times
Reputation: 11093
http://www.crablaw.com/weekly/?q=node/16
http://www.bmorenews.com/Prince_George%27s%20Report/111707_news_oxon_hills_pg_is_one_big_randallstown_ doni_glover.htm (broken link)
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Old 01-01-2008, 03:36 PM
 
217 posts, read 686,305 times
Reputation: 98
Quote:
Originally Posted by TuborgP View Post
The bubble has not broken there and hopefully it will be a soft landing. The message is not how much you have on paper but what do you have when you actually sell. As with any stock if you own Google at $800 you have not made a cent until you sell. Likewise if it falls to $600 you are not out of anything until you sell. If you bought at $100 you done well anyway. If the purchase price was $790? In this mark we should all offer caution and have a strong streak of risk aversion. Those who don't in real life are probably sales folks. In here it is ok and is food for thought what ever the perspective. Cheer on and respond on.
For my two cents this is the discussion I would love to see. Stock market investing surging in PG instead of increased retail shopping to help divert income from investments to consumables. Building for the future through the creation of legacy money to be passed down to the next generation. I want more black folk born with silver spoons in their mouths and not debt on the ledger. Here is my cheer. PG is the wealthiest major African American county in the country. Let's build it to the top 25 of all counties like Howard, Montgomery, Fairfax and Loudon with real wealth and individual wealth appreciation where individual assets far exceed liabilities. Yes where young people can inherit a million plus when their parents pass.
You hit it on the head. I asked in another thread to "Define Wealth". Wealth is not the paycheck one never sees because of the simple fact it is going to mortgage, car notes and utilities before it goes to build holdings in a financial institution. Never confuse salary with wealth.
How many people are "house poor?" Sure, they bought a $750K Mcmansion but they can't furnish it properly or live like those that are in their neighborhood because they are broke at the end of the month.
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Old 01-01-2008, 04:52 PM
 
70 posts, read 441,889 times
Reputation: 50
I don't mean to rain on the parade, but you cannot rely on the "State's Assessment" to determine the real "Sales" value of a home. They are way off. My neighbor's (identical) house was assessed at litterally half that of mine.

Regardless, it does show a definite overall trend.

Baltimore's astounding increase of 75% does bring City assesssments more in line with values, however it will also be our downfall as property taxes for new buyers make it unaffordable.
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Old 01-02-2008, 09:08 AM
 
413 posts, read 820,458 times
Reputation: 60
Quote:
Originally Posted by maat View Post
This is good news that despite our foreclosure numbers, the property values continue to rise. The same cannot be said for Prince William and Loudoun counties. They are #1 and #2 in foreclosures in the DC area and unfortunately their property values continue to fall. I was concerned that our school budget would take a big hit this year, but maybe it won't be so bad and Dr. Deasey can continue to implement his plan.
Yep, there's a ton of people falling victim to foreclosures in Loudon and PW because the housing prices skyrocketed so much. I guess even the Joneses were trying to keep up with the Joneses.
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Old 01-02-2008, 10:26 AM
 
29,462 posts, read 33,705,926 times
Reputation: 11093
Default What a screwed up state of mind about a state that is getting screwed up

Quote:
Originally Posted by Scudder View Post
I don't mean to rain on the parade, but you cannot rely on the "State's Assessment" to determine the real "Sales" value of a home. They are way off. My neighbor's (identical) house was assessed at litterally half that of mine.

Regardless, it does show a definite overall trend.

Baltimore's astounding increase of 75% does bring City assesssments more in line with values, however it will also be our downfall as property taxes for new buyers make it unaffordable.
This is surreal. Most other states have people complaining about their assessments going up because it means their taxes will go up. In Maryland there are actually people happy about assessments skyrocketing? I know the state is increasing taxes but we actually have people cheering that their taxes will go up. I hope they realize that increased assessments mean increased taxes unless there is a cap or rate cut.
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Old 01-02-2008, 11:02 AM
 
250 posts, read 1,227,845 times
Reputation: 145
There HAS been a devaluation in PG County Real Estate, that's a fact. Here's a link to a full analysis on the current sales figures for Prince George's County.

Prince George's County Real Estate Market Report (http://www.teambenya.com/charles_county_real_estat/2008/01/prince-georges.html - broken link)
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