photo credit: Steve Soblick

You may have heard the term “eminent domain” before but not quite know exactly what it means or where the term came from. No worries, because we will touch upon it here, and from now on you will at least have a surface understanding of the term.

“TAKINGS CLAUSE” OF THE FIFTH AMENDMENT

Eminent domain is the government’s right to take or condemn a piece of private land for public use.

An example of eminent domain might include the routing or re-routing of a public highway system through an already existing neighborhood. The local government, in this example, would seize the private land, usually existing homes, and claim the land would be of better use for the good of the city as a public highway.

The law of eminent domain derives from the so-called “Takings Clause” of the United State’s Fifth Amendment. Recently, the Supreme Court ruled in favor of local governments’ ability to use eminent domain for “non-traditional” public uses such as economic development projects.

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These five home improvement ideas have been known to work for both home owners or investors looking to make the most out of their home improvements.

5 HOME IMPROVEMENTS BEFORE YOU SELL

1. New paint — inside and outside
2. New and updated kitchen appliances
3. New flooring — think carpet
4. A thorough and professional house cleaning
5. Professional landscaping / yard clean-up

For more tips on selling your home, just call our office — we love what we do.

(559) 399 – 0004 – We can help you sell you Fresno home (it’s what we do).

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HOW BAD IS IT?

San Diego’s median income levels were almost 30% less than the income needed to buy a median-priced home in the area. Roughly stated, typical housing prices in San Diego are more expensive than what a typical San Diego income can support. This might lead to the typical family in the San Diego area spending more of their income on housing than any other part of the country, in a percentage-of-income ratio.

THE BOTTOM LINE

Move to Peoria, Illinois.

Peoria, Illinois can brag about the fact that its median income was nearly three times more than the income needed to buy a median-priced home in that area.

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