Home prices are well above the bottom of a few years ago. Even though the market cools a bit each autumn, another significant surge in prices can be expected every February - May for the next several years, even if we experience a mild recession along the way. Because of so many high paid employees being relocated to Silicon Valley, average home prices can go considerably higher before reaching a balanced market of available buyers versus available homes. California Residential Property Taxes . When you buy any home in California, the annual property taxes are reassessed to about 1.25 percent of the purchase price.
Property taxes are deductible, just like interest. .
Therefore, it is a reasonable assumption that your property taxes will not move upwards significantly through the years following your purchase. This is guaranteed by the Jarvis-Gann Proposition 13 bill that was passed some 30 years ago. . Know your opponent before negotiating. Reduce at-risk situations with strangers.