Finally the mortgage market is responding to interest rate cuts in other areas. Today the lowest rates we received notice of were 4.875% for 30 year fixed and 4.5% for 15 year fixed. What a great time to buy a home, move up to a larger home or consider purchasing a second home! On the evenings of February 19th and February 26th, we will be hosting a seminar entitled "Real Estate As A Wealth Building Tool." Today's interest rates make this an even more important piece of your investment strategy. E-mail us today at annel@rmdfw.com for specifics about the seminars!

Many of you are turning your attention to property taxes as the deadline for payment approaches. If you would like to protest your value, you must file a written protest with your county’s central appraisal district (most counties have this form online). Here are some hints you may find helpful when protesting your appraisal:
*Check the appraisal to make sure the property description and measurements of your property are correct.
*If you have had “hidden defects” such as a foundation repair, unusable spaces due to needed repairs or serious plumbing issues, you can present receipts and/or photographs as evidence of things that may negatively impact the value of your home.
*Ask us, as licensed realtors, to provide you with data on comparable sales. We can almost always find low sales that you can use to make a case.
*The appraisal district must provide you with any information, formulas, schedules, etc. that they used to determine your value. The law requires the appraisal district to allow you the opportunity to inspect during the 14 days before your hearing.
*Look online at the taxing entity’ website for your address and then it’s neighbors. You can look for inconsistencies this way. We can help with this, too!
*If you purchased your home in the last year, the closing statement showing your purchase price, if it is lower than the appraised value, is usually sufficient evidence.
*Some counties in Texas allow you to protest online or in written form, so you may want to investigate your options. If you go in person, be sure you have 4 copies of all written evidence so that each panel member can review.
*Your first meeting is usually an informal meeting with a staff appraiser who is authorized to make changes if the evidence is substantive. If you need to continue the process to the more formal hearing, that will be scheduled at a different time. Be on time for all of your scheduled meetings as most appraisal districts are reluctant to reschedule without sufficient cause. They are not obligated to work with your schedule.

As licensed agents with many years of experience, we are always happy to help you in any way possible with your real estate needs. We do not want to just open a few doors for you, but instead want to provide a full range of professional real estate services to our clients and friends! Call us anytime.

Planning on home maintenance and repair, along with updates, is an important part of your financial planning and budgeting for 2008. Your home will decrease in value if it becomes worn with inefficient appliances and systems. Protecting your home’s value and appearance can be both a chore and a joy, but is a financial necessity. In January, February and early March, plan on doing the jobs that can be done indoors: check for drafts and air leaks around windows and doors; check smoke detector batteries and efficiency; repair and patch any cracks or holes in walls or ceilings; have appliances serviced if needed including vacuuming refrigerator coils and clearing the dryer vents of accumulated lint; check your attic stairs and flooring for needed improvements. In March and April, examine your exterior for needed repairs: be sure your gutters and downspouts are clean, attached & painted appropriately assuring that each downspout has a splash block or drain that diverts water away from the house; check your siding and trim for needed replacement or repainting; consider your driveway and sidewalk – are they clear and accessible and do they need pressure washing or resurfacing. In April and May, plan for the heat and your family’s outside enjoyment: clean your air conditioner units both inside and outside; wash windows and repair any damaged screens; check your lawn equipment and lawn furniture; do any interior painting or refinishing since this is a great time to leave windows and doors open for ventilation. Before you go on any summer vacations: be sure to check all of the locks on your windows and doors, plan for yard maintenance, make sure outside lights and light timers are placed strategically and are in good working order; check outdoor play equipment to assure safety. The fall in Texas is a great time for pruning your trees and bushes; get your chimney cleaned and checked for nests; shop for bulbs that will dress up your spring landscape; clean and sharpen tools and lawn equipment before storing; get bids for home improvements as contractors are usually experiencing a lull following the spring/summer housing rush. If you follow simple steps and keep up with home maintenance/updates, when you are ready to sell, your home will be ready, too!

As we begin 2008, let me give you a few thoughts for your consideration as your consider your financial strategies for the year. Over the next few days, I will offer thoughts gathered from many real estate publications that may help you decide which steps you can and should take regarding home ownership, security and investment potential. First, the beginning of the year is a good time to review your homeowner's insurance policy and your coverage - be sure you are adequately covered for full replacement cost in case of loss, but also be sure you are not including the price of the land in your coverage. Many find it beneficial to raise the amount of their deductible so that their premium is reduced, which means your homeowner's insurance acts more as a policy in case of catastrophic loss rather than coverage for a broken window, etc. You may also want to specifically discuss any high value items in your home with your agent. Sometimes they can recommend a policy for specific articles that is cheaper than just increasing the amount of your personal possession coverage in your homeowner's policy. This is also a good time to take current photos of your home and your possessions which you can then store in a safe deposit box or in your office. This removes any possibility of dissent over the condition of your home and contents should you experience loss. Protecting your home and belongings only makes sense, but you also do not want to be overinsured during this time of increased premiums.
Check back for tips on protesting your tax value!