Cummins Real Estate Appraisals

09/13/2026

This isn't a bad thing but a good thing. It streamlines the construction process saving time and money. People can always customize the exterior finish, hardscape, landscape to make their home look unique.

Palisades homeowners are choosing from catalogs of predesigned houses, sacrificing some uniqueness for a faster, simpler path home.

09/11/2026

Assessed Value vs Market Value. They are not the same. From Assessor Jeff Prang

"Understanding Your Property's Assessed Value
Each October, Annual Property Tax bills are mailed by the Treasurer-Tax Collector (TTC) to property owners throughout Los Angeles County. The amount of your property tax bill is based, in part, on the “assessed value” of your property as determined by the Los Angeles County Assessor’s Office.

One of the most common questions we hear from property owners is also one of the most important: What is my property’s assessed value, and how is it determined?

The answer can sometimes be confusing because a property’s assessed value is not necessarily the same as its “current market value.” Understanding the difference—and how California’s property tax laws affect your assessment—can help you better understand your property tax bill.

Assessed Value

Under Proposition 13, the foundation of California’s property tax system, a property’s assessed value is generally the lower of two figures: its Proposition 13 factored base-year value or its fair market value as of January 1, the annual property tax lien date.

But what exactly is a Proposition 13 factored base-year value, and how is fair market value determined? Understanding the difference is important because the value used for assessment purposes directly affects the amount of property taxes you pay each year.

Proposition 13 Tax Base - Establishing a Property’s Base-Year Value

When a property is purchased, the Assessor’s Office determines its fair market value as of the date of the change in ownership. In many cases, the purchase price is a reliable indication of market value and may be accepted by the Assessor’s Office. However, the purchase price does not always reflect fair market value, so the Assessor may consider other relevant market information when determining the property’s value.

That value generally becomes the property’s Proposition 13 base-year value—the starting point for determining its assessed value for property tax purposes.

Each year thereafter, Proposition 13 allows the Assessor’s Office to increase the property’s base-year value by an inflation factor of no more than 2 percent. This annual adjustment applies regardless of how much the property’s actual market value may have increased. The resulting value is commonly referred to as the property’s factored base-year value.

As a result, even when real estate prices rise substantially, a property’s assessed value generally increases by no more than 2 percent per year. Larger changes in assessed value typically occur when there is a change in ownership, new construction, or a temporary decline-in-value assessment under Proposition 8.

Market Value

Market value is generally the price a property would reasonably be expected to sell for on the open market. Unlike a property’s Proposition 13 factored base-year value, market value can rise or fall significantly based on changing real estate conditions, including supply and demand, interest rates, neighborhood trends, the condition of the property, and other market factors.

Each year, the Assessor’s Office considers whether a property’s market value as of January 1 has fallen below its Proposition 13 factored base-year value. If it has, the property may qualify for a temporary Proposition 8 decline-in-value assessment, and the lower market value becomes the assessed value for that year. When market conditions improve, the assessed value may increase to reflect the recovering market value, but it cannot exceed the property’s Proposition 13 factored base-year value.

In short, Proposition 13 generally limits increases in a property’s assessed value even when market values rise substantially, while Proposition 8 allows assessed values to temporarily decline when market values fall below the Proposition 13 value. Together, these provisions help explain why a property’s assessed value may be significantly lower than its current market value—and why assessed values can sometimes change more noticeably following a downturn and subsequent recovery in the real estate market.

Decline-In-Value Review Available Now
If you believe your property’s market value as of January 1, 2026, was lower than its Proposition 13 factored base-year value, you may request a Decline-in-Value (DIV) Review from the Assessor’s Office. If the review determines that the market value was lower, your property may qualify for a temporary reduction in its 2026 assessed value.

It is important to understand that a loss in market value or home equity does not necessarily qualify as a decline in value for property tax purposes. A property may have declined substantially from its previous market value or purchase price and still have a current market value that is higher than its Proposition 13 factored base-year value. In that case, the property would not qualify for a reduction. For purposes of this program, a decline in value occurs only when the property’s market value as of January 1 falls below its Proposition 13 factored base-year value.

Decline-in-Value Review applications are accepted each year from July 2 through November 30. To request a review, complete the Decline-in-Value Review Application (Form RP-87). For your convenience, the application can be completed and submitted online through the Assessor’s Office Decline-in-Value webpage.

A Decline-in-Value reduction is temporary. Properties receiving a reduction are reviewed annually, and their assessed values may increase or decrease as market conditions change. However, the assessed value cannot exceed the property’s Proposition 13 factored base-year value.

Assessor Brings Sept 19 Resource Fair
Homeowners have questions, and Assessor Jeff Prang has the answers. On Saturday, September 19, Los Angeles County Assessor Jeff Prang, Assemblymember Jesse Gabriel, and the Southland Regional Association of Realtors will join forces to bring residents a free Homeowners’ Resource Fair in Lake Balboa / Van Nuys.

The event will provide residents with direct access to property assessment and tax experts, representatives from local elected officials’ offices, and a wide range of County and City services. Homeowners will also have access to valuable resources, including mortgage lenders, ADU construction experts, and other housing and homeownership service providers.

The free event is designed to help homeowners better understand the programs and benefits available to them. Attendees will receive information on property tax savings, Proposition 19, family property transfers and inheritance, veterans’ and other property tax exemptions, and other topics that can have a significant financial impact on homeowners and their families.

Event Details

Saturday, September 19, 2026
9:00 a.m. – 12:00 p.m.
Southland Regional Association of Realtors
7232 Balboa Blvd.
Lake Balboa, CA 91406

The event will also be livestreamed on the Assessor’s page for those unable to attend in person. To register for the Homeowners' Resource Fair, visit:

Office of LA County Assessor Jeff Prang – Committed to establishing accurate & fairly assessed property values. Info: 213-974-3211 | [email protected]

09/11/2026

Rates over 7% today causing biz to slow. It’s also the beginning of the slower time of year.

View today's current mortgage rates with our national average index, calculated daily to bring you the most accurate data when purchasing or refinancing your home. Follow our daily market analysis with Mortgage Rate Watch and we'll tell you where and why rates are moving.

09/09/2026

CITY OF MALIBU STATEMENT ON DRIVEWAY COLLAPSE AND GAS LEAK AT SEA LEVEL DRIVE SEPT. 8, 2026

The City of Malibu is responding to the collapse of a driveway on a beachfront property and resulting gas leak on Sea Level Drive in western Malibu reported at approximately 5:45 AM today, Tues, Sept 8.

The Los Angeles County Sheriff’s Department and Los Angeles County Fire Department responded and closed the private road, and identified the gas leak. Southern California Gas Company is on site working on the gas leak.

The City’s Building Safety Division and Southern California Gas Company are working to assess the situation. At this time, the City red tagged five homes (prohibited entry). The City’s Building Safety Division and Southern California Gas Company will continue to assess the situation to determine safety concerns for the surrounding area, and will provide updates as they become available.

The City is actively monitoring and responding to coastal erosion issues in areas including Pacific Coast Highway in the Palisades Fire burn area and at Westward Beach due to strong waves and high tides, in close collaboration with partner agencies. The City is preparing for potential strong storms, strong waves, heavy rain, mudslides, and coastal erosion that are possible along the entire Southern California coast due to the forecast strong El Niño conditions.

09/04/2026

BREA is so slow they renewed my license in an hour. Or it was AI. I used the online form. Good for two more years. Just did the 56 hr renewal.

09/01/2026

Just took a free Clear Capital class on the new 3.6. I'm not on their panel but someone sent me the link. 3.6 will be mandatory 11/02/2026. They will be paying more for 3.6. You can also bid more. The first 3-5 may take longer but then it gets a lot faster. 98% of their panel is 3.6 ready? They suggest doing a 3.6 on a completed 2.6 to practice. The rest of the class was by a new software provider Aivre which I don't need so I didn't watch it. #3.6

09/01/2026

Good article on post Palisades fire rebuilds. Insurance offers basic remediation for smoke, ash damage when some homes need interior gut and rebuild. I've seen this first hand.

Key takeawaysNearly 20 months after the January 2025 Palisades Fire, local stakeholders and experts say insurance is the biggest challenge facing

08/27/2026

A real estate agent, inspector and appraiser all walked into a house for an inspection. We were all older and started talking about how we used to type forms on typewriters, use actual camera film and the fax machine hadn't even been invented. While I fully embrace all tech today I'm now that old person I used to kindly smile at :-D

08/24/2026

Just had a real estate appraiser "job" interview. After the person gave me her schpiel it turns out it wasn't a job. This company just signs you up for AMC panels. In exchange they take 30% of what you make. It never costs to apply to any panel, the forms autopopulate with your license number and you always get to keep 100% of what you make. She said most panels pay $350 and they'd take 30% of that! I was just looking for extra work for the slow season. This might be good for a totally new appraiser who can't get on panels because they have no experience but no experienced appraiser would ever do this.