Property Tax Schedule

The following schedule is intended to serve as a general guide to property-owners.

July 1 Beginning of the fiscal year.
August  Treasurer-Tax Collector’s Office mails delinquent prior year secured notices.
August 31 UNSECURED TAX DELINQUENCY DEADLINE as of 5:00 p.m. A 10% penalty plus a $75.00 collection fee is added as of 5:00 p.m.
Sept 25 – Oct 5 The Treasurer-Tax Collector’s Office mails out original SECURED PROPERTY TAX bills.

In addition, SUPPLEMENTAL TAX bills are mailed throughout the year. 

October Unsecured Tax liens filed for unpaid unsecured accounts.
November 1 First SECURED PROPERTY TAX installment is due; delinquent UNSECURED accounts are charged additional penalties of 1.5% per month until paid.
December 10 FIRST INSTALLMENT payment deadline. A 10% penalty is added after the deadline.
January Treasurer-Tax Collector’s Office mails delinquent notice for unpaid FIRST INSTALLMENT and SUPPLEMENTAL SECURED INSTALLMENTS.
February 1 Second SECURED PROPERTY TAX installment due.
Feb – March Treasurer-Tax Collector mails delinquent prior year secured installment.
March – July UNSECURED PROPERTY TAX statements mailed.
April 10 Second SECURED PROPERTY TAX installment payment deadline. A 10% penalty plus $23.00 cost is added after the deadline.
May Treasurer-Tax Collector mails delinquent notices for any unpaid first and second installment taxes and SUPPLEMENTAL SECURED INSTALLMENTS
June 30 End of fiscal year.
July 1 Delinquent SECURED and SECURED SUPPLEMENTAL accounts are transferred to delinquent tax roll and additional penalties added at 1.5% per month on any unpaid tax amounts, plus $15.00 redemption fee.


Please note that the list above includes only the more significant dates and may not include all items or activities in the regular tax cycle.  If a delinquent date falls on a weekend or holiday, the delinquent date is the next business day

Southland Begins 2013 With Sales and Price Gains Vs. Year Earlier

As seen on DQNEWS.com

La Jolla, CA—Southern California’s housing market started 2013 with the highest January home sales in six years as sales to investors and cash buyers hovered near record levels and move-up activity remained relatively brisk. The median price paid for a Southland home dipped slightly from December, as it normally does, but jumped 23.5 percent above the year-ago level, a real estate information service reported.

A total of 16,058 new and resale houses and condos sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties last month. That was down 20.8 percent from 20,274 sales in December, and up 10.6 percent from 14,523 sales in January 2012, according to San Diego-based DataQuick.

A drop in sales from December to January is normal for the season, and on average sales have fallen 27.8 percent between those two months since 1988, when DataQuick’s statistics begin. Last month’s sales were the highest for the month of January since 18,128 homes sold in January 2007, though they were 8.8 percent below the January average of 17,609 sales. The low for January sales was 9,983 in 2008, while the high was 26,083 in 2004.

The median price paid for a home in the six-county Southland was $321,000 last month, down 0.6 percent from $323,000 in December and up 23.5 percent from $260,000 in January 2012. The December 2012 median was the highest for any month since the median was $330,000 in August 2008. The Southland median has increased year-over-year for ten consecutive months.

“This fledgling housing recovery has momentum. Already, price hikes have caused some to question whether it’s sustainable, whether it’s a ‘bubble.’ Let’s not forget, though, that we’re still climbing out of a deep hole from the housing downturn. Regional home sales remain sub-par and prices in many areas are at least 30 to 40 percent below their peaks. That’s not to say we don’t see risks. Sharp price gains can attract speculation, which could lead to unsustainable, short-term gains in certain submarkets. A lot of today’s housing demand is fueled not by spectacular job growth and soaring consumer confidence, but by super-low mortgage rates and unusually high levels of investor and cash purchases. Take away any one of those elements and it will matter,” said John Walsh, DataQuick president

Click here for entire article.

Staying on Top of Your Short Sale Transactions.

We’ve prepared this checklist to help you have a smooth closing of your transaction and avoid those last minute snags.

Is the approval letter current? 
The approval letter must be current.  The letter will state the date by which the transaction must close and/or the date the funds need to be received.  If these dates cannot be met an extension will be required.  This may be in the form of a new letter or an email.  Send all of them to us and we can close.

Does the information on the approval letter match the transaction?
The approval letter(s) will list the accepted sales price and the anticipated buyer.  Be sure the information is current. Title cannot close the transaction unless the information on the letter matches the specifics of the file.

Are there approval letters for each loan on the property?
Approval letters are required for each loan.  If both loans are with the same lender they may issue one letter covering both loans.

Does the lender require an estimated HUD1 prior to closing?
In ALL cases the lender will require an estimated HUD-1 for approval prior to closing.  A copy of the approved HUD-1 must be submitted to title for each loan prior to closing/recording.

Is the seller allowed to receive funds?  
99% of the time the seller cannot receive any proceeds from the sale.  Some lenders are allowing Seller’s some money but this is rare.  It must be stated in the approval letter.

Have all the lenders conditions been met?  
It is very important to review the approval letters carefully.  Some lenders will require notarized signatures of all parties in the transaction including the agents.  If all conditions are not met and fulfilled according to the approval letter, the lender may reject the payoff and continue with the foreclosure, even after the close of the escrow.