How Do Property Values Differ on Your Tax Bill?

When it comes to your tax bill, the difference between your property’s market value and its appraised value is that the appraised value is the one you pay taxes on. 

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What’s the difference between the market value and the appraised value of your property when you look at a tax bill?

The market value is what the country district thinks the property will sell for. They determine this by looking at comparable properties around the area. The appraised value is the value that you pay taxes on. 

The appraised value could be lower based on any exemptions you might have. If you have a homestead exemption, for example, you’re going to be capped based on that value increasing 10% every year. If you’re not protesting your taxes, then that value could go up considerably. 

The appraised value could be lower based on any exemptions you might have.

You can’t protest taxes now—that happens after the beginning of next year when the new values come out, and it’s what the property is deemed to be worth on January 1st. The market has slowed a bit this year, so we’ll have to see what the values show next year. 

If you have any more questions regarding this topic, please feel free to give me a call or send me an email. I look forward to hearing from you! 

How to Organize Your Home Before a Showing

There are many great Houston area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (713) 341-1763 for a FREE home buying or selling consultation to answer any of your real estate questions.

I recently found a good video on HGTV that I thought would be helpful to you if you're preparing to sell your home. It's essential that when you show your home to buyers, it's clean, organized, and decluttered. You'll want to empty out your closets, or at the very least, get them organized.

One thing you can do to get organized is put up shoe hangers in your doors, and store everyday items inside them such as cleaning supplies, utensils, or anything else that you can fit in them.

Another way to cut down on clutter is to use labels, or pick up storage bins to keep items like cords or wires in.

A tip for organizing your closet is to divide your clothes into four different sections: hang, sell, donate, keep, and fold. Once you have something marked out for every category, you can then organize your closet in any way you see fit. Here's an extra tip: you can use belt hangers to hang your necklaces and other jewelry.

I just thought this video would be useful for organizing your home, whether you're selling or if you just want to tidy up a bit.

If you need any assistance with staging, decluttering, or selling, please don't hesitate to contact me!

Are You Getting the Tax Breaks You Deserve?

There are many great Houston area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at 832-428-6453 for a FREE home buying or selling consultation to answer any of your real estate questions.

Today I wanted to share some tips with you to save you some money in 2015. I can't believe it's already February, because we've been very busy already this year, which is a great sign for the Houston real estate market.

The first thing that we should talk about is the Homestead exemption. If you lived on your property through January 1st and it's your primary residence, you're going to be eligible for a Homestead, which will save you a considerable amount when you pay taxes. If you bought a home last year, make sure to document it and get that exemption in place. If you already have a Homestead exemption, you can go to www.HCAD.org and check to make sure your Homestead exemption is in place.

The other thing we need to speak about is insurance. The costs of construction have risen sharply in the last few years, so if you file an insurance claim and need to rebuild something, you need to make sure you're covered for the increased costs of building. Be sure to speak with your insurance agent if you have not done so in a while, so that when you file a claim, you'll be covered.

In the next couple of weeks, I'll be updating you on the real estate market here in Houston. Stay tuned, because we're expecting big things here in Houston for 2015.

As always, reach out to us if you need any assistance. We're always happy to help!
 

How You Can Determine the Worth of Your Houston Home

Looking to buy or sell a home in Houston, TX? Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (832) 428-6453 for a FREE home buying or selling consultation to answer any of your real estate questions.

Determining the value of your home can be difficult. Texas is a nondisclosure state, which means what a home actually sells for is not publicly disclosed. The county assesses how much homes are worth and the resultant tax data is typically all that is available.

This is a problem for people who want to sell their home because coming up with a list price is difficult, especially in our strong, growing market. Many people use Zillow to get their home estimate. The problem with that, however, is estimates can be hundreds of thousands of dollars off in either direction. If you are looking for a ballpark figure, online home evaluations are just fine - but if you want a true value, an accurate estimate, your best bet is working with a real estate professional.

An agent has a better understanding of market trends than websites like Zillow and Trulia. We have access to comparable property sales and other data that help us price your home in an informed manner. Additionally, HAR.com has been consistently ranked the #1 MLS site in the nation, so you do have at least one helpful online resource.

Real estate is incredibly local - what is happening regionally doesn't apply to the multitude of micro markets, especially in a large city like Houston. If you want the best information available so you can find the value of your home, give us a call or shoot us an email. We'll help you price your home competitively so you can sell it fast and get maximum value. 

How to Keep Your Home Safe While on Vacation

Looking to buy or sell a home in Houston, TX? Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (832) 428-6453 for a FREE home buying or selling consultation to answer any of your real estate questions.

Summer time is here in Houston. With the kids on summer vacation and the weather heating up, you or somebody you know may be heading out on vacation soon. While you are relaxing on vacation, the last thing you want to do is worry about  what is going on at your home. I want to share with you some helpful tips that will keep your home safe  and make your vacation that much more enjoyable. Here are 5 great tips for keeping your home safe.

1. Stop The Social Media Updates
• As social media sites have become more popular, a rising trend we have seen is people posting on these sites where they are going, who they are with, and how long they will be gone. While sharing memories with all of your family and friends online is a great thing, advertising that you are going to be vacant from your home is not. You may want to hold off on this until you get home.
2. Hold Your Mail
   • Nothing advertises that nobody is home better than stacked up mail or newspapers on your front porch or in your mailbox. A simple call to the post office or newspaper to put a hold on your mail is a simple fix for an obvious sign.
3. Call Police Authorities
   • If you live in a small town, a smart move would be to notify the police that you will be out of town so that they can keep an eye out for your home on their patrol. This can really scare home intruders away and make them think twice.
4. Notify Your Neighbors
   • Let your neighbors know that you will be out of town. They are around your house every day and will be the first line of defense against home break-ins or vandalism. 
5. Install a Float Switch
• There have been clients in the past who have had their air conditioning drain back up, which results in them returning to an absolute mess. Installing a float switch on the drain pan in your air conditioner is a simple, cheap fix that can save you a lot of headaches.

Both the weather and market are heating up, and I will be back in a few weeks with another market update. I hope you have a great start to your summer  and as always, please give me a call if you have any questions at all.

Major Changes to Flood Insurance Could Affect Your Home

Looking to buy or sell a home in Houston, TX? Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (832) 428-6453 for a FREE home buying or selling consultation to answer any of your real estate questions.

Important Changes to Flood Insurance

 

Today I wanted to update all my clients in Houston about Flood Insurance. It's not the most glamorous subject, but here in Houston this is a big issue because you might find yourself in a flood zone.

I was just talking with some home owners, and their flood premium was about $1,500 dollars per year. When these people sold their home, the new occupants were paying $4,000 per year in flood insurance premiums. That is a substantial increase!

Flood insurance has been a hot potato in the real estate industry in the last few years, and the situation doesn't appear to be getting any better.

However, the Grimm Waters Act appears to be providing some help to consumers. One thing that will happen is that full actuarial cost for flood insurance phased in over a five year period. This will mean that if you have flood insurance, your premiums will go way up.

If you live in a flood area you will probably want to speak with your insurance agent and find out what this means to you because there has been a lot of change recently.

Keep in mind that the changes to this policy only affect primary residences. If you have a beach home or something, then you need to check with your insurance agent. You could be in for a surprise if you do not double check.
Hopefully you have found this information to be useful. If you have any further questions, feel free to contact me.

As always, if you're looking to buy or sell real estate in Houston, do not hesitate to contact me. We have a very strong market here and there are lots of great opportunities.