What does it mean to build a home at $800K+? How do those homes look? Are those custom built homes or nah? Join me as a I take sir down with Taylor Robinson to discuss luxury homebuying in Dallas with a production builder.
How’s the Market?
When asked about the market as a REALTOR®️, I’m honest on what it is whether it is a potential seller or buyer asking.
As of today, our #DFW market is still pretty strong. Inventory is ⬆️, which gives buyers more options. However, as a seller, you’ll think the market is crap. As a buyer, you’ll think the same too. Understanding where the local market is and where you can get the best bang for your buck, helps you weather it.
Solutions for both:
Sellers – Today’s market IS NOT the market from the spring. You have to put your home in the best light to get it sold if you want top dollar. No longer will just listing it and waiting for the crowd to appear work. Determine if you want top dollar. If you do, you’ll have to do things to get top dollar in today’s market. That includes pricing it right off the bat, great curb appeal, staging, professional photos, and keeping the home clean and organized. I highly recommend staging for today’s market.
Buyers – Be realistic and understand your local market. I know you’re hearing “rates this and rates that”. What really matters is what you can realistically afford. Rent is at 100% interest that isn’t written off during tax season. This IS NOT 2008 at all. Buy a home you can afford and that fits your lifestyle for the timeframe you want it to be. Understand what you want and what you can afford may be two different things. Find where the two areas collide or adjust based on where you want to be.
Bottom Line: Yes, people are still buying and selling. People will continue to buy and sell because LIFE happens through all the ebbs and flows whether good or bad. The key is to understand what is happening in your local market with a trusted expert.
Save this post for future reference. If you’re ready to chat about homeownership in #DFW, book a consultation with me at calendly.com/newaverealty.
Protesting Your DFW Property Tax Assessment!
Each year, respective counties send out new tax bills for the year to be paid by December. In Texas, one of the biggest expenses for homeowners are property taxes. We don’t have state income taxes therefore most local entities such as the county, school districts, county hospitals, cities, and sometimes county community colleges are paid through the property taxes.
The 2019 property tax assessments from various counties in the metroplex have been mailed out and guess what? Your property taxes have increased. What most people are seeing are a significant increase in their home value assessment (the property tax assessment value is getting really close to market values which we will talk more about later) by their counties. You have until May 15th to protest your assessment online or in person.
Did you know fewer than 20% of homeowners appeal their property taxes? This means they may pay more than their fair share. The best thing to do is to protest them. Why? You have a chance of lowering the amount you pay in property taxes by simply saying that this is too much. Let’s make a change in 2019 until the state government decides how they want to handle the property tax reform, shall we?
Here are tips to protesting your property tax assessment:
Make sure you have filed your homestead exemption.
You have until April 30th to file your homestead exemption with your county to save money on property taxes. You only have to do this once but if you failed to do it the January – April AFTER you purchased your home, this is your chance to do it. A homestead exemption helps you save money on your property taxes. It also prevents your tax value from increasing more than 10% per year.
Check for mistake’s on the county’s description on your home.
Does the county have your 3 bedrooms, 2 bathrooms, formal dining home at 1805 square foot as 4 bedrooms and 3 bathrooms at 1925 square feet? It happens all the time and no one corrects it. A lot of county information is incorrect but we let it ride as gospel. Check your county’s website to make sure the square footage, number of bedrooms and bathrooms, and lot size are accurate in their assessment.
Gather Your Comps
It is important to keep up with the values of homes in your neighborhood. Most time people don’t realize what other homes are selling for. To gather more accurate comps, connect with a local REALTOR to see what homes have sold for within the last 3 months or 90 days in your neighborhood.
You can enter your address below to determine what your home is worth.
Highlight Flaws in Your Home
We all love our homes and it is the best thing since slice bread. However, this is the time to really compare your home and get very judgmental about it. If you notice most of the homes that have sold nearby all have hardwood or some wood-like material, while you have carpet everywhere, take pictures of it. If you know your home is in need of a new roof or has foundation issues, take pictures and/or provide the quotes of those repairs that are needed.
Consider the negative influences near your nearby such as backing up to a busy street, water tower behind the home, or being on the main road to the neighborhood. Those are items that an appraiser would dock off your home’s market value when it is time for you to sell, use it to your benefit for your property taxes. P.S. I am not saying to trash your home or that you won’t ever be able to sell your home, this is to save money on your property taxes. I sold a home in Fort Worth last year and my clients ended up getting the property for less because the appraiser thought it was in a less desirable location than other homes comparable to it. It’s a gorgeous home and my clients love it. However, they got a win to buy it at a lesser price.
New Construction Woes
In most cases for newly built homes, there is a tricky line for homeowners. The previous year, your home was assessed based on land value. Now, it is based on the value of the home with a home on it. Check the price of the home that they county says your home is. Is it higher than what you paid for the home? Is it higher than what new homeowners can build the same exact home for? If your answer is yes to either one, that’s your protest. Texas is a non-disclosure state. In order to win the battle on the first one, you may have to show what you paid for your new home. The other option is to stop by the builder’s office (if they are still in the neighborhood) or pull it offline and see what your home is being sold for at base price. Is it lower than the county’s assessment? If so, your argument here is that your home has been lived in. No one is going to purchase your home for higher than what they can build their home for. Then take pictures of the things that you got standard (if you built) with the builder and haven’t updated.
Check Local Real Estate Trends
In addition to talking to your REALTOR for comps, ask them to pull the real estate trends. Homes have the potential to increase in value or appreciate. However, a property can decrease in value or depreciate. Is the price of homes sales decreasing in your zip code? A decrease in value can be caused in excess supply, lack of demand, deflation or other reasons that take away the property value. Home values fluctuate so don’t get nervous. It is just something for you to know and use in your protest. Homes appreciate normally 2-4% a year. Find out what is happening in your local area. It can be completely different from Aubrey to Crowley.
It can be that your area isn’t appreciating as much as the county THINKS it is appreciating.
Things to Remember
The county’s assessor’s don’t see the inside of your home. They can only see the outside of it. This is the time to show and prove what your home looks like. Use the knowledge that you have from the tips above to help lower your tax assessment value which in return lowers your property taxes. After you have your evidence, schedule an appointment with the county to present your case OR present the information online. It is important to protest annually to minimize your property taxes.
If you need any assistance in gathering information to present your case, contact me at via email at [email protected].
Life at Sandbrock Ranch
As a country girl from North Louisiana, I love being in areas that remind me of home…..for now anyways. However, Aubrey, gives me North Louisiana vibes. You have nature at its best. Quiet scenery with city amenities nearby. I call it the best of both worlds.
So when I discover a community that gives that vibe, I have to explore it. If you didn’t know, Aubrey is horse capital. It is still fairly rural but growing quickly. However, you’ll see that new communities are still harvesting what Aubrey is known for. The area will grow to be another suburban town but very well keep its horse capital, rural flair (at least I hope it does).
The developers at Sandbrock Ranch are keeping that mission alive. In this community, the neighborhood will certainly have its ranch moments. In fact, the neighborhood has it’s own cows considered to be “milk cows” that are stripped white in the middle and black on the rest of its body. Horses roam within the neighborhood too.
There are fences up to protect the animals but it brings such joy to my country heart. The winning piece of the community, The Carriage House. Sandbrock Ranch is a development created by the owners of Highland Homes. This piece of land is actually family land that they’ve decided to develop on. The family is still keeping pretty much a part of the land, ranch-style with a suburban twist. ?
I know it seems funny but truly this is a one of a kind neighborhood that is amazing. I did a tour with the Lifestyle Directors and here is what you can expect “Living at Sandbrock Ranch.”
There are still even more things to come to this amenity center such as the rec space (sports fields), event amphitheater, and more. The neighborhood will also have a future Denton ISD elementary school in the community.
If this is a community you can see yourself living in, find your next home at move-updallas.com. Homes in the community start in the mid-200s. Builders in the neighborhood are David Weekley Homes, Highland Homes, and Perry Homes. Highland Homes has three products in the community (45 foot lot homes, 50 foot lot homes, and 60 foot lot homes).
Let New Avenue Realty Group help you find your home in Sandbrock Ranch. Connect with us through via phone or email at 972-813-9788 or [email protected]. We can start with your own private tour with a New Home Specialist concierge service with New Avenue Realty.
Complete the form below to start your visit with us.
Black Friday: Target Style
Just bought the new home and looking to score some amazing deals? Well my absolutely favorite store is prepping you up for Black Friday. Hang that new flat screen tv in the media room, set up Alexa in living room, and add some style to the bedrooms and bathrooms. Target is your one-stop shop which is why I consider myself a Target addict! I can spend hours in Target. It instantly brightens my mood whenever I walk through the door.
Explore the new Black Friday ad from Target before next week!
Here are my tips for shopping at Target:
- Get a Target Red Card
This card can be linked to your debit card or you can use the credit card feature for this. I prefer the debit. I save 5% everytime I use it. In Texas, that is basically you paying less on the sales tax around 3.25%. #WINNING
- Scan your Target app
Whenever I am in Target, I make sure to scan the items I purchase to see if it is on Cartwheel or any additional coupons can be applied. That is even more savings. I've saved over $500 dollars using Cartwheel.