Quote:
Originally Posted by Joe Wicked
I am surprised, they are building again in my neighborhood at the same rate they were 2 years ago. Does this mean that Dallas (which wasn't hit bad at all) is coming out of the downturn?
|
NO
The market is still adjusting right now. Foreclosures are leading the way for all sales right now. ALL City and county tax values in every city and county in the entire United States on every single house built should be challenged and disputed to lower the taxable value of the real estate.
If you do not dispute your taxable value you WILL PAY TOO MUCH IN TAXES.
The city and county will not re-adjust your taxable value unless you dispute the value and demand your tax burden be changed to better reflect the current market value of your homes. (and all other real estate for that matter)
The market has hit everywhere and everyone. Even Waterfront properties that have usually been protected from drastic market adjustments are being very heavily hit right now.
I would bet that if you (anyone) were to have an appraisal performed on your property you would want to shoot the appraiser. Problem is the values HAVE dropped that much. In some places as much as 50% here in Texas(yes the Dallas area). In places like CA. NV. AZ. and FL., price values have dropped as much as 75-80%.