LOWER PROPERTY TAX RELIEF ON THE WAY!

Are the PROPERTY TAXES on your HOUSE being reviewed for a DECLINE in VALUE?

LOOK IT UP ONLINE! I love how easy the Assessor has made it for us, as you can now check to see if your property value has been reassessed, online at the Riverside County Assessors office:

http://riverside.asrclkrec.com/acr/INProp8PropValLookup.asp


Assessed values in Riverside County have dropped 11% from 2008. Starting last week more than 300,000 homeowners in Riverside County should have begun receiving notices of a reduction in tax assessments, bringing assessed values back to near 2006 levels.

If you disagree with the new assessment, you can still file an assessment appeal. The link for that form is here:

http://riverside.asrclkrec.com/acr/forms/755P-AS3RS0%20Owners%20Request%20for%20Review.pdf

If you are planning to file an assessment appeal, you will need info on current home comparables to take with you to assessment appeal hearing. Contact your friendly neighborhood REALTOR if you need help getting comp information for an appeal.

Menifee Home Values Predicted To Go Lower

From our "It's Going to Get Worse Before It's Gets Better" department, comes this report from PMI Mortgage Insurance Company that home prices in the Riverside County area are predicted to go even lower in 2011...

Home prices will be lower in two years compared to Q109 for much of the country's metropolitan statistical areas, (MSAs) according to an economic trends report released by PMI Mortgage Insurance Co...

...The MSAs most likely to see decreased prices are the Riverside-San Bernardino-Ontario, California, Miami-Miami Beach-Kendall, Florida, and Los Angeles-Long Beach-Glendale, CA regions.

Read the report...
http://www.housingwire.com/2009/07/07/mortgage-insurer-expects-lower-housing-prices-in-2011/

And we're talking about 2011! So if you're believing all the rhetoric from the Obama Administration, that we're starting to turn the corner economically, well, guess again...