2009 Jan 17th

“The Good News Is Real Estate Prices Are Low”

By Lori Turoff – [email protected]

Battlestar Galactica Finds Earth

Last night was the start of the new season of Battlestar Galactica. After an endless search through all corners of the universe and countless battles with the Cylons, Galactica finally finds Earth. Unfortunately, it is too late. The apocalypse occurred over 2000 years ago leaving Earth a radioactive wasteland. Even worse, it seems that the 13th tribe came to Earth and called it home. All the earthlings were actually Cylons. Back on Galactica Lee Adama (Apollo) deliberates how to break the crushing news to the crew. Discussing the dire situation on Earth with Dee, he says “the good news is real estate prices are low”. I kid you not. So even in the worst possible circumstances, people (earthlings, anyway) are still interested in the real estate market and recognize a good buying opportunity.

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  1. jc

    I can’t help but think of Detroit and the unfortunate devestation there.

    Lori, do you know if square footage has anything to do with the tax value assessed
    From the city on a new construction? Or is it 100% correlated with the purchase price?
    Thanks

  2. Lori

    For new construction, property taxes are based purely on purchase price. Sales price x tax rate (right now it is 1.3% I believe. That being said – the bigger a unit, the more expensive so there is an indirect correlation.

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