Spring has Sprung! And along with bluebonnets and other wildflowers spring also brings in Texas an “Appraised Value Notice” from your appraisal district. Watch your mail for a notice form. The appraised value is the amount multiplied by a certain percentage to find out how much money you will be charged in property taxes for 2012. If you can get the appraised value lowered then you property taxes are lower. Money in your pocket!
Here are the steps to take:
Look for the appraised value and if you feel the value they have given your home is too high then you have a right to contest it. In Dallas County, at the bottom of the page is a “Notice of Protest”, fill that out and send it back before May 31, 2012.
Then find an agent or broker, like me, who practices in your county and ask for a “Comparative Market Analysis” (CMA). This can be done over the phone or by e-mail. If the CMA is lower than what the district has appraised your property then you have a good chance of lowering your property taxes.
For a small fee the broker or agent will give you that CMA and a “BOV”( Brokers Opinion of Value) and you can present it as evidence to lower your value on the tax rolls and possibly much more than that small fee. For a percentage of the savings some may even represent you at the hearing.
Right now, in the year 2011, may be the perfect storm for buying a home. Prices are low, interest rates are low, and when a market is at the bottom then there is only one way to go. I won’t insult your intelligence by telling you what that direction is. If taking advantage of this unique and maybe once in a lifetime opportunity is what you are considering then here is your first step. Get thee to a mortgage loan officer.Why a mortgage loan officer before funding a house? A mortgage loan officer can tell you about all the different financial options and possibilities based on what your specific circumstances and needs are. Mainly, what is the most amount of money to purchase a house can qualify for and that you feel comfortable in paying each month for a home. After your interview and application with a mortgage officer is complete ask for a pre-qualification letter. With this in hand you can go to a good agent you feel comfortable with and show them this letter. When an agent sees this he or she will know they will be making good use of their valuable time showing houses to someone who is serious about buying and can close on a home. When a house is decided on then the letter should be submitted with the offer. That shows the seller they are dealing with a serious buyer who can close. It also gives you a little more bargaining power. The first place to go for mortgage officer is your bank or credit union. Friends and relatives who have recently bought a home are good sources. Many mortgage companies advertise on TV and radio. Of course, all this can be done on-line. Search the net with words like mortgage officer along with the city you live in or near such as “mortgage loan officer Dallas”.
If you prefer a referral, I have heard that Summer Garrett at Nationstar Mortgage is quite helpful. She can be reached at (972) 880-9332.
And, of course, I am available to help. Call me at 214-536-2410 or e-mail me at Carmen@CarmenChapa.com.