Real Estate News You Can Use
May 2008
Risé Johns ASR®, CRS®, GRI
A recent article in the Statesman stated that the Travis County Appraisal District is finalizing its proposed values for property in the county. Properties are valued as of January 1 each year as prescribed by the state’s property code.Risé Johns has been involved in real estate for over 27 years. Her knowledge, experience and customer service will make your next real estate transaction a smooth one. Call Risé at (512) 267-LAGO for “World Class Service.”
Chief Appraiser Patrick Brown said “some will see their property values increase while others will see a decline.” Brown said initial figures show some areas of the county, such as Lago Vista and Marble Falls, are seeing “very strong appreciation rates.”
That’s not to say central Texas hasn’t experienced fallout from the national housing troubles and tighter lending practices. Home sales have cooled from previous record levels set in 2006. However, “the value of the typical house has continued to go up,” Brown said.
Unlike the stock market, where expectations drive values, appraisals reflect previous market conditions. “These values reflect the market conditions of last spring and summer (2007), before the effects of sub-prime lending policies became evident,” stated Charles Heimsath, president of Austin-based Capitol Market Research.
NOTE: You should have received your 2008 appraised value last week or this week. If you need assistance with the value, please give me a call. We will help you protest the value if you feel it is too high. The deadline for protesting is May 31st.
