Who says our declining real estate market isn’t benefiting homeowners? Hey, my property dropped 10’s of thousands already and it’s possible yours has too. It’s an odd down market, kind of like it was an odd up market. Anyhow, here’s what you NEED TO KNOW about the benefits of going down in value for San Diego Real Estate.
Our effervescent County Assessor, Gregory Smith, has a proposition for you, Proposition 8 to be exact. Between now and May 30th, 2008 you can apply for a Review of Assessment. What’s a Review of Assessment you ask? Here’s the skinny straight from the government:
![SD County Bldg](https://westofthefive.wordpress.com/wp-content/uploads/2008/02/cac4.thumbnail.jpg?w=450)
Property owners who believe their property’s market value has fallen below its assessed valueshould file an Application for Review of Assessment with the Assessor’s Office as soon as possible but no later than May 30, 2008. They should provide their opinion of value andsupporting documentation, such as comparable sales, current listings, or a recent appraisal.For apartments or other income-producing property, income and expense information should also be provided.”