What is the Property Tax Rate in the San Fernando Valley, CA?
The property tax rate is determined by the State and is 1.25% of the initial purchase price. The purchase price, for property tax calculations can go up a maximum of 2% per year during periods when property values are increasing. When there are periods of property value decreases, homeowners can apply for a temporary reduction in the value that is used to determine the tax. This is governed by Proposition 13 in the state of California. There are some areas that have additional taxes known as Mello Roos. These areas would have higher taxes.
What is the First Step in the Home Buying Process?
The First Step in the Home Buying Process is getting Pre-Approved with a lender for a loan (unless your purchase is all cash). I can refer you to several qualified Mortgage Specialist.
What is the MLS?
MLS Stands for Multiple Listing Service. It is where you can find all Active Inventory of Real Estate for Sale. Click Here for the Best MLS
Who Pays the Brokers’ Commissions?
Generally, the Seller pays the commissions.
How Can I determine the Value of My Home?
We have a great tool called the CMA from Cloud CMA. It can help you determine the value of your home in 2 easy steps! Find it by clicking HERE.
I am interested in Buying or Selling Real Estate in Sherman Oaks - Who do I contact?
If you are interested in Buying or Selling Real Estate in te San Fernando Valley or nearby, contact Todd Riley - Equity Union Real Estate - Your San Fernando Valley Area Specialist. 818.538.6331 Todd@ToddRiley.com
Todd Riley – San Fernando Valley Area Specialist