Okay, $293k in 1993. California real estate doesn’t get reassessed at market value every year as in some locales. It can be reassessed higher but the increase is capped by Proposition 13 at 2% a year.
The market value of that house has easily quintupled since 1993. Well, it may be down 20% this summer, but it’s an easy bet this property will in the high, high six figures today.
I agree that it would be likely in the high six figures. I put up that document to show when the current owners acquired it. When did Hsu claim he lived there?
If they had the house reassessed to borrow against it, wouldn’t the increased value also increase their property taxes? Just askin’, I don’t know how the law works here.
I looked on Zillow.com. they could not find “41 Shelbourne Ave” but there was a 47 and a 33 Shelbourne. Each was estimated to be valued in the low $700s. In April of 2007 27 Shelbourne sold for $660k
Interesting... I went back to Zillow.com and looked closer at the map. There is a blank space where 41 Shelbourne would be. The satellite picture shows the green house that is listed in the news story. No doubt about it. I wonder if Zillow delisted that house because so many people are looking the address up because of this story.