Homeowners are often surprised when they receive their annual statement from the local tax appraiser’s office. Often the assessed value of their home is very different than what they believe the property is worth.
Now’s a great time to take a look at the difference between two common real estate terms: “Assessed Value” and “Market Value.”
The Assessed Value is the dollar value assigned to a property by a public tax assessor for the purposes of measuring applicable taxes. The number is very often a point of contention with homeowners, who may believe it to be too high or too low. The Assessed Value does not offer a shortcut to a home’s Market Value.
The Market Value is the highest estimated price a property will bring in a reasonable amount of time if exposed for sale on the open market. Market Value is influenced by such factors as homes that recently sold in the area, the location of the property, the home’s amenities, and the condition of the property. Of course, Market Value is also influenced by the current economy.
Knowing the difference between Assessed Value and Market Value is great. But even better is knowing what your property is worth in today’s fast-paced North Texas housing market.
To get started, contact an Ebby Associate today. To find the right agent for your real estate needs, visit the award-winning ebby.com.
Dallas-area home prices are up 9.5 percent in the latest report from CoreLogic. Dallas had the highest year-over-year price increase in a November comparison of large U.S. metropolitan markets.
Nationwide, home prices were 6.3 percent higher than in November 2014. CoreLogic is forecasting a 5.4 percent nationwide home price gain for 2016.
Determining your home’s market value is a job for a properly educated real estate professional. If you’re considering offering your home for sale, we recommend contacting an Ebby sales associate to determine the current value of your property. To get started, visit the website voted one of the industry’s best by the Web Marketing Association, ebby.com.
The Dallas area had the largest year-over-year home price rise in the country in October – up 9.1 percent from the year before, according to a just-released report from CoreLogic Inc. Nationwide, prices were up 6.8 percent from October 2014.
Determining your home’s market value is a job for a properly educated real estate professional. If you’re considering offering your home for sale, contact an Ebby agent to determine the current value of your property. To get started, visit the website voted one of the industry’s best by the Web Marketing Association, ebby.com.
The Dallas-Fort Worth and North Texas residential real estate market continued 2013’s record-setting pace in 2014 with 83,000-plus home sales at a total market value of $20 billion changing ownership.
During the past two years, D-FW-area average home values have increased more than 20 percent. In the same period, the average time it takes to sell a home has decreased to less than 60 days.
The D-FW area continued to lead the nation in job growth in 2014, and the unemployment rate fell to 4.8 percent, remaining well below the national average. At the same time, salaries in the area increased in almost every income sector, according to the U.S. Bureau of Labor Statistics. That’s good news for both the local economy and area residential real estate sales.
It appears 2015 may be another stellar year for the Dallas-Fort Worth and North Texas residential real estate market and for the Ebby Halliday Companies. The recent acquisition of Williams Trew Real Estate by the Ebby Halliday Companies enhances the firm’s presence in Fort Worth and will add significantly to its ability to provide the highest quality of professional real estate services throughout the entire D-FW and North Texas area.
Through November, the Ebby Halliday Companies had participated in 1-of-every-5 D-FW area homes sold through MLS during 2014.
To view properties listed for sale throughout North Texas, visit the award-winning ebby.com.
Dallas-Fort Worth home prices were up 5.2 percent in the second quarter from a year ago, according to the latest National Association of Realtors survey.
Nationwide, prices were up 4.4 percent – the smallest such increase since 2012, according to NAR. The biggest year-over-year increases were both in Oregon, with Salem at 24.9 percent and Eugene at 18.1 percent. Prices were up in 71 percent of the markets surveyed.
Analysts have been forecasting a slower rate of home price growth this year. D-FW home price gains have cooled substantially from the 9 percent rise in the first quarter.
“At this slower but healthier rate, homeowners can continue steadily building equity,” says NAR economist Lawrence Yun. “Meanwhile, for buyers, increased supply with moderate price gains is giving them better opportunities to choose.”
Nationwide median sales prices in the second quarter were at a record $212,400. In the D-FW area that number was $191,300.
Dallas-area home prices rose at the slowest rate in 10 months, according to the just-released Standard & Poor’s/Case-Shiller Home Price Index.
Dallas prices were up 8.6 percent in May from a year ago. Nationwide, prices rose 9.4 percent in the same period.
The lower home price gains had been predicted by analysts who see some moderation after many months of double-digit price increases. Eighteen of the 20 cities Case-Shiller surveys had lower gains in May than in April.
Dallas’ increase was the smallest since July of last year. Earlier this year local home prices were growing at more than 10 percent from a year ago.
The largest annual gains in May were in Las Vegas, 16.9 percent, and San Francisco, 15.4 percent. The smallest increase was in Cleveland, 2.4 percent.
Dallas-area home prices are now at a record level – up more than 9 percent from where they were before the recession. And prices here are almost 25 percent ahead of where they were at the worst of the economic downturn in 2009. Dallas-area prices have been rising in the Case-Shiller study for more than 24 months.
Existing-home sales rose strongly in May and inventory gains continued to help moderate price growth, according to a just-released report from the National Association of Realtors. All four regions of the country experienced sales gains compared to a month earlier.
Nationwide, existing home sales rose 4.9 percent in May, but remain 5 percent below May 2013. The 4.9 percent month-over-month gain in May was the highest monthly rise since August 2011. Closer to home, in the country’s South region, sales rose 5.7 percent in May, and were down only 0.5 percent from this time last year.
“Home buyers are benefiting from slower price growth due to the much-needed, rising inventory levels seen since the beginning of the year,” says Lawrence Yun, NAR chief economist. “Moreover, sales were helped by the improving job market and the temporary but slight decline in mortgage rates.”
The median existing-home price nationwide in May was $213,400, which is 5.1 percent above May 2013. In the South region, the median price was $184,800.
To learn more about the real estate market in your neighborhood — or your neighborhood of interest — or to determine what your property is worth, contact an Ebby Associate today. To find the ideal agent for your residential real estate needs, visit the award-winning ebby.com.
Dallas-area home prices hit a record high in the latest Standard & Poor’s/Case-Shiller Home Price Index.
According to the report released today, local home prices were up 10 percent in March from a year earlier. March marks the fourth-consecutive month that Dallas-area home prices increased at a double-digit rate from the previous year. Prices were up 1.2 percent over February.
Nationwide, prices were up 10.3 percent from 2013.
“All cities were higher than a year ago and all but New York were higher in March than in February,” said S&P’s David Blitzer. “However, only Denver and Dallas have set new post-crisis highs and they experienced relatively lower peak levels than other cities.”
Dallas-area home prices are now 6 percent higher than they were at the previous peak of the market back in 2007. Nationwide, prices are still almost 20 percent below where they were before the recession.
To find out what your home is worth in today’s fast-moving market, contact an Ebby Associate today. To get started, visit the award-winning ebby.com.
CoreLogic reports that national home prices increased by 12% year-over-year in January. This marks the 23rd consecutive month of year-over-year increases in the CoreLogic Home Price Index.
Nationally, home prices increased 0.9% month-over-month from December. For the past 20 years, the average month-over-month appreciation for January has been 0.2%, and the January 2014 increase was the largest January increase since 2006.
Year-over-year home prices were up in 49 states and the District of Columbia. Only Mississippi showed a price decrease. Nevada led the country with a 22.2% price increase from January 2013, followed closely by California with a 20.3% increase.
In terms of monthly changes, 39 states and the District of Columbia showed increases, with Vermont (+2.7%) and New York (+2.7%) showing the largest increases and New Hampshire (-1.5%) and Iowa (-1%) experiencing the largest decreases.
Texas, Louisiana and Nebraska reached new heights in home prices, and Colorado was within a tenth of a percent of its peak. Conversely, Nevada remained at 40.1% below its peak in 2006, followed by Florida (-36.4%).
To find out the current value of your home, consult an Ebby Halliday Associate today. To get started, visit the award-winning ebby.com.