No Time Like the Present!

Happy Good Friday! As we all look forward to the Easter Bunny and colored eggs on lawns around America, as Easter Sunrise Services and people celebrate the arguably second greatest date in Christendom other than the birth of Christ – our economic markets and banking icons are being battered and beaten, supported by emergency measures and falling, falling interest rates! As the Dow Jones Industrial Average hangs precipitously around the 12,000 plus mark…European Markets, Asian Tigers and Off Shores Banking is adjusting to falling values and the worst credit crunch in memory.

How deep will this malaise go? How much farther will the values of residential property and commercial/industrial holdings….fall before we hit a bottom? One year, two years….five? The answers are seemingly complex….according to the major media….much as they were during the Savings and Loan disaster years back. They hardly wanted to say that very greedy, unethical bankers, institutional investors and insiders had profited greatly from the loss of the man on the street. It is our strong belief that this current Credit Crunch and Fall of Asset Values again has been orchestrated, designed and implemented once more.

For those that have not watched the Al Pacino vehicle – “Scarface”…we encourage you to rent it and take into consideration the serious role that banks play in the World Drug Trade. Everyone seems eager to pick on poor Afganistan, regarding their Poppy production and the great array of Black Pakastani Hash that is produced throughout the area. What is missing is how the funds get transferred, how the money is paid to the farmers and how the illegal, ill gotten gains appear in “pillars of society banks” all around the world…later in the process. How is this connected to the Credit Crunch and how normal people have lost value in their homes? We will leave that to you .. to figure out. Don’t you think Hedge Funds, Derivatives and dirty banking practices..or worst of all “No Banking Regulations”…..have had a little something to do with it?

So what can “Joe or Jane Average” do… not only figure this mess out….but to provide a little corrective action for themselves and their families? Firstly, Counties throughout the country are starting to Reassess properties. According to most sources the actual average values of homes around the country have fallen to 50% of what their values may have been a year or two ago. These values continue to fall and if you are unlucky enough to reside in a “Foreclosure Zone”…where half the people on your street have either walked away or have Foreclosure signs on their front lawns – those values may be even less. Currently values in Orange County are broaching 2004 Values and continue to fall. They may approach year 2000 numbers or lower before this thing plays out. So people are getting the County Assessors to adjust the true values of their homes and business properties. Why this is important is that per Prop 13, once you get a value…it can only go up 2% a year from there. That means that should you find the value of your property half of what you paid for it….you could be saving big bucks with a Reassessment. We are not specialists in this field, but we certainly believe…that anything that can save families big money every year….is definitely worth a serious review process.

Orange County people can simply click here.

For those busy buying property; Commercial or Residential during these tough credit crunch times….sorry….your Assessments will automatically be current. Well, maybe! You might want to check with the Assessors office before you buy and check when the last Assessment was made!

In the meantime, be prepared for County Governments around the country to suffer a serious loss of revenues….which will probably affect Social Services and the levels of Service for most County business. Welcome to our new realities and what the future may hold – up and down the State, Region and Country….right after the November election!

About Ron & Anna Winship

Independent News Producers/Writers and Directors for Parker-Longbow Productions. Independent Programming which includes a broad variety of Political, Entertainment and Professional Personalities. Cutting Edge - a talk the flagship of over 30 URL websites developed or under development. The Winships have been blogging for the Orange Juice since back when nickels had buffalos on them, and men wore onions attached to their belts, because it was the fashion back then.