Long Beach Real Estate-Long Beach Condos

Eminent Domain

PROPOSITION 99 PASSED

How does that affect your Long Beach Homes? 

IT PREVENTS THE GOVERNMENT FROM TAKING YOUR OWNER OCCUPIED LONG BEACH HOMES ONLY!  (If they have been occupied for 1 year)

Eminent Domain is the inherent power of the state to seize a citizen's private property, expropriate property, or rights in property, without the owner's consent. The property is taken either for government use or by delegation to third parties who will devote it to "public use or civic" or in some cases, economic development. The most common uses of property taken by eminent domain are public utilities, highways, and railroads. Some states require that the government body offer to purchase the property before resorting to the use of eminent domain. Definition is Compliments of Wikipedia

When the City of Long Beach, the County of Los Angeles, the State of California or the Federal Government is allowed to take private property and in turn sell or lease that land to a developer then the premis of land ownership in this country is over as we now know it!

I happen to know quite a bit about eminent domain and have witnessed attempts at using 'the threat of it' to attempt to fleece business owners, landlords and home owners in Long Beach of their homes and businesses for less than the appropriate market value.

You really have to think about this for a minute.  IF a City has a specific area they want to take under eminent domain to sell or lease to a developer it would be years in the planning.  What would stop them from purchasing some similar land around the planned development (PD) area and selling it for a song and a dance just to depreciate the value of the land to be taken under eminent domain when it is appraised for fair market value? That would decrease the amount paid to the home or business owners for their properties.  Then they could easily turn around re-zone the land, increase it's value and sell or long term lease it to developers for full value.  Remember they also control the zoning laws!

Fair market value is the price that government agencies are required to pay when property is taken under eminent domain laws. Appraisers determine fair market value.  What do you do if the fair market value has been tinkered with? 

Now if you don't believe that eminient domain laws haven't been violated all over this country, lets consider our incumbent President George Bush's tenure as the illustrious Governor of Texas.  If the American public actually did a little reading on people before they cast their votes he may not hold that position. 

I am going to have you read for yourself.  Go ahead and put this into the Google search engine and start reading:  George Bush, eminent domain, Texas. 

Proposition 99 supposedly prevents governing agencies from taking an owner occupied home (occupied for at least 1 year) to transfer to a private developer.  Proposition 99 is seemingly simple and straighforward and seems to be in the best interest of all homeowners. 

Proposition 99 does not protect tenant occupied homes, apartment buildings or businesses which still could be deemed blighted and taken.  This is a rather large issue here in Long Beach where much of our properties are tenant occupied.  How many businesses actually own the building they occupy?  Few! 

More than half of Long Beach CA is zoned as redevelopment areas which means that the city can now declare them to be blighted areas and take them through the use of eminent domain. 

Do you own Long Beach Real Estate? Are you just a little worried?