I can't find it on Trulia right now so it either dropped drastically in price or was removed, but just yesterday there was a 2-bd/1-ba bungalow listed for $315k here in Denver. A few of the windows were boarded up and the interior pics made me think a hoarder is the most recent tenant. Buying here is expensive and renting isn't much better. 1 beds going for $1200-1600+ last I looked and most of those were in places that seemingly popup overnight and have the interior feel of something like Legacy Tower in Ames.
Home Values
- Thread starter 2forISU
- Start date
Wife almost took a job in Denver. Looking at the houses in out price range, we felt it was not a great decision unless we wanted to drive forever.
For families like mine, with 5 growing kids and stable jobs, we are moving and upgrading our home at this time mainly because our kids' lives and activities have changed and we need a new closer location to their many activities. With the stock market being a Bull market the last 10 years, that helped us and a lot of people in their 30s-40s upgrade.
With that said, anyone looking for a 5-bedroom ranch home on 2+ acres south of Des Moines this summer/fall, I know where you could find one!
With that said, anyone looking for a 5-bedroom ranch home on 2+ acres south of Des Moines this summer/fall, I know where you could find one!
And i25 sucks pretty much all the time, I think the same for 70, but I'm rarely by 70 so don't know for sure. I live near downtown and used to work downtown, wasn't bad and I got a steal of a price for rent. Now I live in same spot and commute to Englewood (25 minutes door to door on a good day). Looking at places to move when lease ends and anything in work neighborhood that's decent is a lot more per month, and even the west burbs (Littleton, Lakewood, Morrison, etc) are similarly higher priced and the same drive time I have now. I just got a significant pay increase with the new job though so we'll see, I've got 9 months left on my lease. May stay here since I like the area and have cheap rent, save the difference and work toward a downpayment for when the housing market comes back down to earth (i mean, it has to at some point, right? Unless Amazon comes here...ugh)
Yeah, we were pretty much told that Stapleton was for us location wise. Pricewise, that was a non starter.
The house my dad grew up in in MN was a 2 bed 1 bath with a one stall detached garage. Just sold for $380k.
Crazy.
An interesting Reader’s Watchdog Q&A in the Des Moines Register today:
Q: How high can your Iowa property taxes go? A: Pretty darn high
https://www.desmoinesregister.com/s...y-taxes-limits-appeal-process-iowa/528335002/
Abel Island wasn’t an island at all when Chris Zearley’s grandfather bought land near Guttenberg in the 1930s.
Now riverfront property, some of that land, in far northeast Iowa, has more than doubled in price in the past couple of years — from $404,855 in 2014 to $1.1 million in 2016.
Zearley and his sisters, who inherited the land, can thank those who have built much more swanky weekend homes on the island for that jump in price.
The three can scarcely afford the 113 percent increase in property taxes that has come with the hike in assessed value: From $7,764 to $16,564 a year.
“My question is: Is there a limit on the amount that taxes are allowed to be raised year over year?” Zearley, of Tucson, Ariz., wrote Reader's Watchdog.
“It seems to me that these increases are so substantial (more than doubling in just two years) that there should be some limits set by the state so people are not forced to sell their land just to pay the taxes.” . . . .
*****
There is more discussion there.
Maybe I’m not understanding all the detail, but I’m not sure all the math or the figures in the article are correct (the ones regarding Iowa law). There might be a typo — or perhaps it could have been explained better for those not intimately familiar with Iowa property tax.
The general answer is that rollback helps against a general increase in prices, or price inflation, but not on a property specific basis.
The kind of price increase mentioned in the article, though, is likely not simply, or just, the result of market forces. Price increases as the result of monetary inflation are not uniform. As I said above, the winners are those who receive the new money first.
You can find out more about Iowa property tax law at the links below — which include recent articles. I think what is going on in Iowa law now is an effort to put residential rental and commercial properties on the same basis as residential, a reform which passed a couple years ago. To do that, though, the state was to reimburse localities somehow for the lost revenue (for a period at least). And right at the moment, it seems possible that amount will be reduced or eliminated by the state legislature.
https://tax.iowa.gov/iowa-property-tax-overview
Google search: Iowa property tax rollback
https://www.google.com/search?source=hp&ei=rW_bWpLfOuTJjwTl9YbAAQ&q=iowa+property+tax+rollback&oq=iowa+property+tax+rollback&gs_l=mobile-gws-hp.12..0j0i22i30l3.5154.5154..6611...0....112.221.0j2..........1j2..mobile-gws-wiz-hp.....0.ofKK6JCCcmE=
Q: How high can your Iowa property taxes go? A: Pretty darn high
https://www.desmoinesregister.com/s...y-taxes-limits-appeal-process-iowa/528335002/
Abel Island wasn’t an island at all when Chris Zearley’s grandfather bought land near Guttenberg in the 1930s.
Now riverfront property, some of that land, in far northeast Iowa, has more than doubled in price in the past couple of years — from $404,855 in 2014 to $1.1 million in 2016.
Zearley and his sisters, who inherited the land, can thank those who have built much more swanky weekend homes on the island for that jump in price.
The three can scarcely afford the 113 percent increase in property taxes that has come with the hike in assessed value: From $7,764 to $16,564 a year.
“My question is: Is there a limit on the amount that taxes are allowed to be raised year over year?” Zearley, of Tucson, Ariz., wrote Reader's Watchdog.
“It seems to me that these increases are so substantial (more than doubling in just two years) that there should be some limits set by the state so people are not forced to sell their land just to pay the taxes.” . . . .
*****
There is more discussion there.
Maybe I’m not understanding all the detail, but I’m not sure all the math or the figures in the article are correct (the ones regarding Iowa law). There might be a typo — or perhaps it could have been explained better for those not intimately familiar with Iowa property tax.
The general answer is that rollback helps against a general increase in prices, or price inflation, but not on a property specific basis.
The kind of price increase mentioned in the article, though, is likely not simply, or just, the result of market forces. Price increases as the result of monetary inflation are not uniform. As I said above, the winners are those who receive the new money first.
You can find out more about Iowa property tax law at the links below — which include recent articles. I think what is going on in Iowa law now is an effort to put residential rental and commercial properties on the same basis as residential, a reform which passed a couple years ago. To do that, though, the state was to reimburse localities somehow for the lost revenue (for a period at least). And right at the moment, it seems possible that amount will be reduced or eliminated by the state legislature.
https://tax.iowa.gov/iowa-property-tax-overview
Google search: Iowa property tax rollback
https://www.google.com/search?source=hp&ei=rW_bWpLfOuTJjwTl9YbAAQ&q=iowa+property+tax+rollback&oq=iowa+property+tax+rollback&gs_l=mobile-gws-hp.12..0j0i22i30l3.5154.5154..6611...0....112.221.0j2..........1j2..mobile-gws-wiz-hp.....0.ofKK6JCCcmE=
Seems like the real estate market in Des Moines metro is cooling sharply right now. Too much cookie cutter new construction out there. People are taking house over location it seems like.
Since I moved to LA I've been trying to understand how much foreign property investment affects things. It strikes me as pretty massive. I'm surprised there isn't more regulation of foreign property investment. It must make the state a lot of money even if it's at the expense of working families.
People in other states talk about people from out of state moving in and driving up prices. In CA it seems you have that happening but also wealthy people from every country around the entire world.
I am 15 months into the property tax industry, if you want to call it that.
Multi Res property (units of 3 or more) are having their property taxes rolled back to match residential. This drags levy rates up AND residential has been decreasing their roll back. Residential here is about 57% of assessed value and I believe multi res has dropped to about 85%. The purpose of the multires rollback, as I understand it was to stop and slow rent increases. Ag property is taxed on a profitability formula, ag valuations dropped about 10% in our County. Someone has to pay property taxes, no matter what the valuation, the property tax dollars asked for has to be paid by some one. Who that someone is, has been determined by our legislature. Not by Assessors and Auditors.
Also the doubling in values in some Counties in Iowa was , as I understand it, because valuations had been steady for some of these land owners since the last century.. The properties just reassessed for the first time in a long time.
Makes me wonder if Prop 13 helps housing prices to rise in California. People stay put longer, fewer homes on the market.
And when the legislature demands more money than the property base can pay? They've built the whole system to appear "fair" but they have multiple ways of raising the tax every year. Always need MOAR.
As is tradition. That 300k priceloint is a nightmare people are taking new construction ranches in bfe Polk City without basement finish over 2-3 year old construction with full finish way closer to the center.
Maybe Polk City is more desirable to more people than the center. I know we paid more 3 years ago to move to the far Northwest part of Johnston. & cookie cutters in our neighborhood up to about $250k aren't lasting more than a couple weeks.
Hopefully nothing bad happens with the housing market for the next 5-10 years as I close on my first house this Friday.
Houses here sell like hot cakes. Not much lasts beyond a week on the market.
Houses here sell like hot cakes. Not much lasts beyond a week on the market.
