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Unless of course they re-assess everyone in the county, which they often do.
I had a property assessment jump from $45K last year to $90K this year, and the kicker is, its on the market for $40K.. I fought the assessment, and lost...
This sort of abuse is precisely why many states have a cap on annual assessment or property taxes.
In Michigan, every property has an "assessed value" and a "taxable value". The "taxable value" is limited annually to a 5% increase. In fast-rising housing markets, taxable value can lag substantially below assessed value. Taxable value is reset to assessment when a property is sold.
Its always an option, you give them a down payment and then do a wrap around mortgage, giving them cash and you the property.
In this case, I had to buy two houses on one (unsplittable) lot, so the required wraparound mortgage was too large for me to qualify. I wanted only the smaller house but that was not available without the other house and entire lot.
In this case, I had to buy two houses on one (unsplittable) lot, so the required wraparound mortgage was too large for me to qualify. I wanted only the smaller house but that was not available without the other house and entire lot.
With a wraparound you dont need to qualify. You really need to educate yourself a little on home financing..
Ah, but i believe I am entitled only to a free market and to a property owner's liberty to voluntarily sell me a home I can afford, at terms acceptable to the seller. The current hosing market is not a free market, because property owners are not free to sell anyone a property smaller than a minimum size mandated by government. Zoning is largely about controlling people and about class warfare and about excluding people at or below certain income levels.
What we have now is not what the market will bear, but rather, what government will, in its magnanimity, allow property owners to sell.
Do you think I feel I am entitled to something unreasonable?
The people buying property should not be forced to shoulder an unfair burden, your burden. If you are either unable to afford the property as it is zoned look else where. 15 miles from my home is a trailer court. the lots are dirt cheap. I wouldnt live there but perhaps you would. giant satellite dishes abound, junk cars, old riding lawn mowers in the yards rusting away. Sound like heaven to you?
Or you can move to my area 50 g an acre clean well maintained yards nice houses and shockers low crime. our town has 1 cop. Every week night the state police are out to that trailer court tho. Zoning laws are not a bad thing.
The people buying property should not be forced to shoulder an unfair burden, your burden. If you are either unable to afford the property as it is zoned look else where. 15 miles from my home is a trailer court. the lots are dirt cheap. I wouldnt live there but perhaps you would. giant satellite dishes abound, junk cars, old riding lawn mowers in the yards rusting away. Sound like heaven to you?
Or you can move to my area 50 g an acre clean well maintained yards nice houses and shockers low crime. our town has 1 cop. Every week night the state police are out to that trailer court tho. Zoning laws are not a bad thing.
Too many people want instant gratification in todays society. Buy that $500K home, mortgage it out 40 years, $0 down, adjustable interest etc..
I started out by buying a $10K home, financed it over a few years, paid it off asap, then sold it, giving me down payment to buy the next home. I did this several times and as a result I paid very little in banking commissions, and live in a 6K sf home, thats for the most part, paid off.. Only took me 15 years to go from homeless, to where I am today, but I worked my way up from nothing and settled for living quarters that were very much unacceptable until I could afford more.
Too many people want instant gratification in todays society. Buy that $500K home, mortgage it out 40 years, $0 down, adjustable interest etc..
I started out by buying a $10K home, financed it over a few years, paid it off asap, then sold it, giving me down payment to buy the next home. I did this several times and as a result I paid very little in banking commissions, and live in a 6K sf home, thats for the most part, paid off.. Only took me 15 years to go from homeless, to where I am today, but I worked my way up from nothing and settled for living quarters that were very much unacceptable until I could afford more.
sshhh success is a bad word. They don't like that you know. You didn't stare at me to pay your way, you did it with good old fashion common sense and hard work.
Too many people want instant gratification in todays society. Buy that $500K home, mortgage it out 40 years, $0 down, adjustable interest etc..
I started out by buying a $10K home, financed it over a few years, paid it off asap, then sold it, giving me down payment to buy the next home. I did this several times and as a result I paid very little in banking commissions, and live in a 6K sf home, thats for the most part, paid off.. Only took me 15 years to go from homeless, to where I am today, but I worked my way up from nothing and settled for living quarters that were very much unacceptable until I could afford more.
You bastird you are not supposed to claim individual success. Like you I started small. Worked 2 and 3 jobs and saved my pennies. (literally) Worked up to a good job and kept saving pennies and working extra jobs.
Bought my lot and put a sand mound on it. 3 years later built my home doing much of the work myself. Every day off was spent on this house. 2 hours before work 2 or 3 after work. I work a 12.5 hour swing. 4.5 months later I had a home. I did my own yard, my own landscaping. Now I admit when I bought the lot I got lucky. It was only 15 g an acre back then. I also made about half what I do now.
I bought my lot and then when I built my house I leveraged my lot into a construction loan and bought the neighboring lot which had not sold. I got it at 10g an acre. 10 years later the gas companies came to town. I held out and got top dollar. The land paid for itself plus a little.
Now some would say it isnt fair. They didnt have the same opportunity. They didnt work 3 jobs or save their pennies but hey they shouldn't be expected to sacrifice so much. People like me and others who do save and plan should sacrifice even more so that those who dont sacrifice get the easy path.
You bastird you are not supposed to claim individual success. Like you I started small. Worked 2 and 3 jobs and saved my pennies. (literally) Worked up to a good job and kept saving pennies and working extra jobs.
Bought my lot and put a sand mound on it. 3 years later built my home doing much of the work myself. Every day off was spent on this house. 2 hours before work 2 or 3 after work. I work a 12.5 hour swing. 4.5 months later I had a home. I did my own yard, my own landscaping. Now I admit when I bought the lot I got lucky. It was only 15 g an acre back then. I also made about half what I do now.
I bought my lot and then when I built my house I leveraged my lot into a construction loan and bought the neighboring lot which had not sold. I got it at 10g an acre. 10 years later the gas companies came to town. I held out and got top dollar. The land paid for itself plus a little.
Now some would say it isnt fair. They didnt have the same opportunity. They didnt work 3 jobs or save their pennies but hey they shouldn't be expected to sacrifice so much. People like me and others who do save and plan should sacrifice even more so that those who dont sacrifice get the easy path.
the problem is that in this country home ownership is not scalable, so someone who can't afford a $100K starter home finds there is no smaller $50K starter home that can be sold legally.
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sshhh success is a bad word. They don't like that you know. You didn't stare at me to pay your way, you did it with good old fashion common sense and hard work.
