Real Estate Search and Sale LLC

Real estate investors make it their business to keep their expenses low.  It is essential that they make sure that their expenses are kept low.

I recently protested my property tax assessment from the State of Maryland.  I received the statement in January.  It said that the Silver Spring home I just purchased was worth $85K more than the purchase price.  Obviously the home value did not go up in the few months since my purchase.

My response was to appeal the property assessment in writing and include a home listing for the Maryland home I purchased and a copy of the HUD I. 

 On April 24th I received a response from the Maryland Property Tax Assessment office stating that my appeal had been declined.  I find this interesting and more than a bit disturbing, as the value for Maryland homes for sale in this area had declined since my appeal.

Is everyone else getting their appeals declined regardless of validity?  If I wanted to appeal their decline of my appeal, I had to file for a hearing in which I have to arrive in person.  I am sure that the Maryland Property Tax Assessment Office is counting on the fact that most Maryland home owners don’t have the time to take a day off of work so that they can protest the value of their home.  What makes them think that home values are going up?

 Are they simply looking for more tax revenue to offset the home values which had fallen?  I question whether they did a real estate search at all. Did the state look at the real estate property for sale or the recently sold homes.  When determining home values you must only use recently sold homes for real estate in the area that you are trying to determine the market value. 

You can’t use the sale price for real estate in Bethesda to determine the market price for a homes in Silver Spring.

 I am a real estate investor and so is every other property owner.  Even though this property is one of my primary residences, it is equally important that I consider this property an investment.

I requested documentation demonstrating the comparables that they used for this particular Silver Spring home that was recently purchased.  I also asked them to forward to me comparables that would be used when they did a real estate search to prove their case against me at the upcoming trial.

I am interested in seeing the home listings they used.  Anyone can use look at a site like Zillow and get a very rough idea of what the home values are from their real estate online services.

As a real estate investor, you need to keep on top of such issues.

One of the most important decisions when purchasing real estate is where to live and how long it will take to get to work.

Virginians will have an opportunity to hear proposed plans first hand:

GOVERNOR KAINE UNVEILS TRANSPORTATION PLAN

~ Calls for June 23rd special session to address transportation ~

RICHMOND - Governor Timothy M. Kaine today released details of his transportation plan and called for a special session of the General Assembly to address transportation on June 23. The Governor’s plan fills our growing road and bridge maintenance deficit to promote safety, provides relief for regional transportation needs, and invests in innovative approaches to Virginia’s transportation challenges. The plan raises over $1 billion annually by fiscal year 2012 and contains no gas tax increase.

“During the past several weeks I have talked to legislators, local elected officials, business leaders and other citizens about addressing our transportation problems,” Governor Kaine said. “Today, based on those discussions, I am offering a plan that is simple, statewide and sustainable to address the growing shortfall in our maintenance needs and provides dedicated funds to address our statewide and regional transportation needs.”

               Consistent with past proposals, all funds that the Governor proposes for transportation will include a lockbox mechanism, specifying that the fund shall expire if it is used for any purpose other than transportation.

Safety First

Virginia currently faces a shortfall in highway maintenance funding, which drains money each year from dollars intended for road construction. Most of the highway maintenance funding goes to addressing safety issues - repair and operation of bridges, tunnels, traffic signals, and streetlights, as well as installation of guard rails and rumble strips, and plowing and paving the third largest highway system in the U.S.

Governor Kaine’s proposal addresses the safety issues Virginians currently face by stabilizing the funds needed for highway maintenance. His proposal also frees up dollars for new investments in road construction that can help address the safety hazards in urban and rural areas.

To address the highway maintenance deficit, the Governor’s plan

oIncreases the existing statewide motor vehicles sales tax from 3% to 4% and dedicates all motor vehicle sales tax funds to maintenance;

oIncreases the statewide annual vehicle registration fee by $10 and dedicates those funds to maintenance.

oBoth of these increases were previously approved for regional purposes in HB 3202 by the 2007 General Assembly.

Regional Relief

               To address traffic in the two most congested regions of the state - Northern Virginia and Hampton Roads - the Governor’s plan invests in critical, targeted projects through new funds that are raised and invested in the regions. In addition, by correcting the maintenance deficit, the Governor’s plan will increase local road construction funding statewide, restoring support for construction projects across the entire Commonwealth.

               To address traffic congestion in Northern Virginia and Hampton Roads, the Governor’s plan

oIncreases the retail sales tax in both regions by 1% (does not apply to food or drugs);

oDedicates regional sales taxes to the Northern Virginia Transportation Authority, consistent with current law; and

oDedicates regional sales taxes to seven regional projects in Hampton Roads, including the Hampton Roads Bridge Tunnel, and abolishes the Hampton Roads Transportation Authority.

Governor Kaine is also proposing the abolition of the current local option income tax in both regions.

Transportation Change Fund

                Virginia’s transportation challenges range from severe congestion in areas like Northern Virginia and Hampton Roads to much-needed infrastructure to support economic development in rural parts of the state. While new construction can help relieve congestion, traffic challenges cannot be solved through road construction alone. And Virginia’s transportation challenges are not just limited to traffic. Governor Kaine’s plan recognizes the need for a change in our approach to transportation funding by creating a Transportation Change Fund.

The Governor’s Transportation Change Fund will increase investment in transit, rail, and innovative solutions to reduce traffic congestion like teleworking and ridesharing. Three-quarters of the Transportation Change fund will be dedicated to transit and rail projects, increasing transit and rail investment by over 30%. The fund also makes dollars available for transportation projects to support economic development through aviation, port, and innovative highway investments.

               To invest in the Transportation Change Fund, the Governor’s plan

oIncreases the statewide grantor’s tax by 25 cents. The General Assembly previously approved a 40 cent grantors tax as part of the regional package in HB 3202.

“I look forward to working with both parties in the Senate and House of Delegates to address the serious transportation challenges and opportunities we face,” Governor Kaine said.

Bethesda is truly a walkable town.

For those of y0u who are tired of living your life on the highway consider a fabulous alternative.  Homes that are near shopping, art, libraries and restuarants.

Bethesda, Chevy Chase, Friendship Heights houses are all walkable.