Three days in a row. Different GLA than advertised.

[TerryRohrer]

They exist insofar as appraisers can make them up. A bit like the Easter Bunny - he (or she, depending on your preference) exists as a thought or idea, but nothing more substantial. Same with point values. They exist, but are not real. They are spurious. They are a construct we created to accommodate client needs. No piece of real property interest will ever exhibit a point value as the true value of said interest - it will always exhibit a range - within which any 'point value' is no more, or less, meaningful than any other point value within said range.

What part of this line of reasoning does not apply to an opinion of market value expressed as a range (other than "point" vs "range")?

 

[TerryRohrer]

Property can have negative value. There are some properties that the bank and property owner are fighting to give the property to the other because its worthless due to rent controls. There could also be a time that taxes make it negative value.

It seems for this to be true, the jurisdiction would have to be without property tax. Otherwise, doing nothing (and spending nothing) generally leads to a tax sale at no cost to anyone but the purchaser. In other words, why would a rational person pay someone to take something when someone else will purchase it, albeit from a different someone?

 

[djd09]

Well... gee, I don't need to know the racial makeup of Beverly Hills to suspect the property values there are different from those in North Long Beach.

if they think the homes are undervalued...they should buy up all the vacants

 

[Fernando]

In the game of Monopoly, those who had first opportunity to buy the properties got rich from the rents.
Blacks in America didn't have chance to buy the good properties for long time.
Even when Black soldiers coming back from WWII, GE bill denied them benefits to buy a home. Terrible.
Thus they had to buy in less desirable neighborhoods like near freeways, industrial areas, etc.
From experience here, when recessions happen, low priced neighborhoods get hurt most and high priced neighborhoods still have good demand.
With current economy, rich does well and poor struggling. Good to have properties in desirable neighborhoods.

 

[ZZGAMAZZ]

In the game of Monopoly, those who had first opportunity to buy the properties got rich from the rents.
Blacks in America didn't have chance to buy the good properties for long time.
Even when Black soldiers coming back from WWII, GE bill denied them benefits to buy a home. Terrible.
Thus they had to buy in less desirable neighborhoods like near freeways, industrial areas, etc.
From experience here, when recessions happen, low priced neighborhoods get hurt most and high priced neighborhoods still have good demand.
With current economy, rich does well and poor struggling. Good to have properties in desirable neighborhoods.

Possibly granted. But isn't five decades enough time for an entire ethnicity to narrow the variance, even with dozens of discriminatory programs enhanced by prevailing liberal policy enacted to help, as the so called privileged class is denied Equal Protection. Possibly other inherent factors affect the disparity?

 

[Fernando]

Possibly granted. But isn't five decades enough time for an entire ethnicity to narrow the variance, even with dozens of discriminatory programs enhanced by prevailing liberal policy enacted to help, as the so called privileged class is denied Equal Protection. Possibly other inherent factors affect the disparity?

It's hard for a poor person to "move" up. They lack resources, role models, education, and network connections. Government can do only so much.
I enjoy watching "Finding Your Roots" on PBS and I'm always fascinated in how these famous people got there.
Usually, someone in the past had the drive/will/determination and luck to help set the path for later generations in getting a better life.
Some may not reach their American Dream but they can help their later generations to it.

 

[ZZGAMAZZ]

It's hard for a poor person to "move" up. They lack resources, role models, education, and network connections. Government can do only so much.
I enjoy watching "Finding Your Roots" on PBS and I'm always fascinated in how these famous people got there.
Usually, someone in the past had the drive/will/determination and luck to help set the path for later generations in getting a better life.
Some may not reach their American Dream but they can help their later generations to it.

Hundreds of social science studies reveal that the intent to succeed and the willingness to do whatever is necessary are the baseline factors needed to accomplish the objectives--although access to a "mentor" also is a critical factor that might be missing in the life of a "poor person," possibly the generational absence of role models. Been trying for a decade to get my arms around the theory of my dentist--that an entire generation of African American males was decimated by entitlements, which destroyed their impetus to succeed????? [The jury is still out regarding the integral role of home ownership in the American Dream--or whether that is just a myth perpetrated by the mortgage industry, with much debate pending in response to the potential for 50-year mortages. [Obviously shouldn't get personal, but I still kinda remember "the little train that coulda..." that my mom proffered, dipping into the lexicon of AB, who inadvertently provides virtual mentorship....]

 

[Fernando]

Hundreds of social science studies reveal that the intent to succeed and the willingness to do whatever is necessary are the baseline factors needed to accomplish the objectives--although access to a "mentor" also is a critical factor that might be missing in the life of a "poor person," possibly the generational absence of role models. Been trying for a decade to get my arms around the theory of my dentist--that an entire generation of African American males was decimated by entitlements, which destroyed their impetus to succeed????? [The jury is still out regarding the integral role of home ownership in the American Dream--or whether that is just a myth perpetrated by the mortgage industry, with much debate pending in response to the potential for 50-year mortages. [Obviously shouldn't get personal, but I still kinda remember "the little train that coulda..." that my mom proffered, dipping into the lexicon of AB, who inadvertently provides virtual mentorship....]

I was watching Frontline last night and it was about Ecuador.
I didn't know much about Ecuador but knew I would have to fly there first to vacation in Galapagos Island. Still thinking about that destination.
I didn't know it had so much problem with gangs and the government militarized the country last year to control the violence.
The segment showed how the poor areas of that country with many Blacks had no "choice" but to get involved with drugs and its violence.
Situation similar to the bad parts of US also having young unemployed people having no "choice" but to be involved in drugs and crime activities.
And the military was just as bad in overreaching its enforcement in illegal actions and killings.
I decided to forget about idea of vacationing in Galapagos Island.

 

[Terrel L. Shields]

The segment showed how the poor areas of that country with many Blacks had no "choice" but to get involved with drugs and its violence.

Hernando De Soto Polar explained the problem much of S. America has in having neglected a legal system that does not work for the average person. People can literally steal your property if you simply go on vacation and you have no deed or title to rely upon. That creates a nation of regulations and an underground economy - black market or "informal" economy that hurts both people and the government. And no bank wants to loan money to a property where the title to the property is not vested solely in the name of the borrower.

 

[Zoe]

I was watching Frontline last night and it was about Ecuador.
I didn't know much about Ecuador but knew I would have to fly there first to vacation in Galapagos Island. Still thinking about that destination.
I didn't know it had so much problem with gangs and the government militarized the country last year to control the violence.
The segment showed how the poor areas of that country with many Blacks had no "choice" but to get involved with drugs and its violence.
Situation similar to the bad parts of US also having young unemployed people having no "choice" but to be involved in drugs and crime activities.
And the military was just as bad in overreaching its enforcement in illegal actions and killings.
I decided to forget about idea of vacationing in Galapagos Island.

The gang becomes the mentor many times. The Father has left the home many times. Momma may have left too. The gang becomes the family. It is organized crime similar to the Mafia.