Escrow of the West Hosts Seminar Featuring Los Angeles County Deputy Assessor, John Noguez

On Wednesday, June 16, 2010, Escrow of the West hosted Los Angeles County

Deputy Assessor, John Noguez, for a seminar on the state of the real estate market. Introduced by Marcine Kline, who sits on the Community Advisory Board for the County Assessor and also is the Branch Manager/Senior Escrow Officer for Escrow of the West’s Sherman Oaks office, Mr. Noguez spoke to a capacity crowd made up of over 100 real estate professionals, as well as lenders, escrow officers and other community members.

Speaking from the County government perspective, Mr. Noguez provided the audience with numerous tools, tips and techniques to navigate the complexities of the current economy. Amongst the topics discussed, Mr. Noguez touched on the issue of declining home values and some of the reassessment programs available to homeowners, including parent to child transfers and Senior Citizen and Disabled Persons savings programs.

Of particular concern to those in attendance was Assembly Bill 2942 which would cause a “split-roll” of commercial property. In essence, if this bill were to be enacted, it would impose a volatile, arbitrary system of increasing business property taxes, including a rebuttable presumption that every three years, business properties have changed ownership and need to be reassessed.

“Mr. Noguez offered excellent insight into AB 2942 and the impact it will have if enacted,” stated Tom O’Rourke of Prudential California Realty. “Also, with the information I obtained about the transfer programs, I’ll be able to apply it to my business, which will help me to enhance the trust and confidence I have with potential Buyers and Sellers.”

Wendy Cox, Manager of Rodeo Realty in Studio City, also commented, “Being afforded the opportunity to learn about these programs directly from the Assessor’s office provides me with additional tools and the knowledge to help my Agents stay a step ahead in such a competitive market. I thank Escrow of the West for facilitating such an informative presentation.”

“We put together this seminar to help educate the community on these intricate property tax issues. Through events such as this, Escrow of the West looks to further our reputation as one of the leading independent, full service escrow companies in Southern California and anticipate hosting many similar discussions for our clients and the community in the future,” said Galit Ofengart, Owner/Manager of Escrow of the West.

To learn more about the many programs available to help lower or transfer your property tax base or to apply for one of the many programs available, visit the Los Angeles County Assessor’s website at http://assessor.lacounty.gov.

Escrow of the West, is a Southern California-based independent escrow company, licensed by the Department of Corporations and is a member of the Escrow Agents Fidelity Corporation. Escrow of the West, through its principals, has more than 70 years' experience in both residential and commercial real estate. For more information, visit www.escrowofthewest.com.