You may never stop paying for some improvements

by plano 9. May 2016 07:02

14041766_s.jpgYou've saved the money and are ready to pay cash to build a new pool for your home.  However, that's just the beginning of your soon to be increased expenses which will include maintenance, higher utilities and higher taxes.

Homeowners obviously benefit by a larger equity when their home increases in value due to appreciation.   A not-so-obvious effect that will also more than likely take place is that their property taxes will increase.  In most cases, a property's assessed value is generally tied to market value to calculate the property taxes based on the tax rate for that year.

Similarly, a homeowner can affect the value of their home by making capital improvements.  Some small items may never be recognized by the taxing authority but items that require a permit, certainly are brought to their attention.  Items such as a fence, roof, remodeling, windows, new rooms or swimming pools can easily increase the assessed value of a property.

Most states have an established time frame in which to challenge the current tax assessment for that year.  The process is relatively simple and doesn't require professional representation.  It generally involves showing that there is an error which has overstated the value or that current comparable sales indicate a lower value.

If you'd like more information or need the comparable sales data, please let us know.  We would be happy to help you investigate the possibility of lowering your property taxes.

Wendy Huang, MBA,SRS, GRI, CRS, IRES, e-pro, ASP, ALHS, SFR, RFC, RE/MAX Premier Group, RE/MAX Hall of Fame,
RE/MAX Lifetime Achievement ; Over 20 years' experience!
Helping Over 1000 Families Meet Their Real Estate Needs !!!
Direct: 972-365-7888 
Has your home value gone up in the past 6 months? Click  here for a Free INSTANT Report ! '
Plano real estate, Frisco real estate, Allen real estate, DFW real estate, Dallas real estate, McKinney real estate, Coppell real estate, Highland park real estate, TX real estate, Addison Real Estate, Allen Real Estate, Anna Real Estate, Carrollton Real Estate, Collin County Real Estate, Coppell Real Estate, Dallas Real Estate, Denton County Real Estate, Distressed Properties, Flower Mound Real Estate, Frisco Real Estate, Irving Real Estate, Lewisville Real Estate, McKinney Real Estate, Murphy Real Estate, North Dallas Real Estate, Parker Real Estate, Plano Real Estate, Prosper Real Estate, Richardson Real Estate, The Colony Real Estate, Wylie Real Estate

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10 Ways to Boost Your Home's Resale Value

by plano 5. May 2016 09:35
Wendy Huang, MBA,SRS, GRI, CRS, IRES, e-pro, ASP, ALHS, SFR, RFC, RE/MAX Premier Group, RE/MAX Hall of Fame,
RE/MAX Lifetime Achievement ; Over 20 years' experience!
Helping Over 1000 Families Meet Their Real Estate Needs !!!
Direct: 972-365-7888 
Has your home value gone up in the past 6 months? Click  here for a Free INSTANT Report ! '
Plano real estate, Frisco real estate, Allen real estate, DFW real estate, Dallas real estate, McKinney real estate, Coppell real estate, Highland park real estate, TX real estate, Addison Real Estate, Allen Real Estate, Anna Real Estate, Carrollton Real Estate, Collin County Real Estate, Coppell Real Estate, Dallas Real Estate, Denton County Real Estate, Distressed Properties, Flower Mound Real Estate, Frisco Real Estate, Irving Real Estate, Lewisville Real Estate, McKinney Real Estate, Murphy Real Estate, North Dallas Real Estate, Parker Real Estate, Plano Real Estate, Prosper Real Estate, Richardson Real Estate, The Colony Real Estate, Wylie Real Estate

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Your home may be worth a lot more than you think

by plano 3. May 2016 05:03
 Real estate lost a lot of value during the recession but most areas have rebounded considerably. In some cases, the homes are worth more than they were before the housing bubble burst.

The dynamics are classic for this type of market: inventories are low, mortgage rates are low and demand is high. All price ranges are on the rise with some at an even higher rate because the short supply is causing competition among buyers.

Another reason many homeowners' may have more equity is simply not staying current with what is going on in the market.

In a recent FNMA study, it indicates that 23% of owners believe they have negative equity in their home when actually, it is 9%. 37% believe they have greater than 20% equity in their home when actually 69% of homeowners do.

Even if you're not planning to sell your home, knowing the value helps you understand your financial position better.

Home equity debt up to a $100,000 limit is tax deductible and can be used for any purpose. Owner's commonly refinance to eliminate mortgage insurance, consolidate mortgages, pay off higher interest rate debt like credit cards or student loans or to buy out an ex-spouse's equity.

Be aware that an automated value model like Zillow Zestimates uses algorithms to determine a price and while it might be in the ballpark, AVM results may only be accurate about 20% of the time. A comparable marketing analysis or broker's price opinion will be more accurate due the subjective approach that will be used by an agent with personal experience in the area. An agent will consider factors like condition, floorplan, marketability and demand.

Wendy Huang, MBA,SRS, GRI, CRS, IRES, e-pro, ASP, ALHS, SFR, RFC, RE/MAX Premier Group, RE/MAX Hall of Fame,
RE/MAX Lifetime Achievement ; Over 20 years' experience!
Helping Over 1000 Families Meet Their Real Estate Needs !!!
Direct: 972-365-7888
Has your home value gone up in the past 6 months? Click here for a Free INSTANT Report ! '
Plano real estate, Frisco real estate, Allen real estate, DFW real estate, Dallas real estate, McKinney real estate, Coppell real estate, Highland park real estate, TX real estate, Addison Real Estate, Allen Real Estate, Anna Real Estate, Carrollton Real Estate, Collin County Real Estate, Coppell Real Estate, Dallas Real Estate, Denton County Real Estate, Distressed Properties, Flower Mound Real Estate, Frisco Real Estate, Irving Real Estate, Lewisville Real Estate, McKinney Real Estate, Murphy Real Estate, North Dallas Real Estate, Parker Real Estate, Plano Real Estate, Prosper Real Estate, Richardson Real Estate, The Colony Real Estate, Wylie Real Estate

Your home may be worth a lot more than you think.htm (1.99 kb)

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