Protesting your Galveston County Property Tax Values

If you believe the value of your property as determined by a county appraisal district (CAD) is more than what you could sell it for, you have the right to appeal the value each year. To be successful, you must understand the process and be prepared.

Getting Started

Appraisal notices are mailed each March or April and include the previous year value, the proposed market value and an estimate of the taxes that will result using the prior year tax rates.

Market value is the price your property would sell for in the open market assuming a willing buyer and seller. It is the value required by law for tax purposes. Appeal the value if you believe it is out of line with comparable properties in your neighborhood.

The county tax assessor collector calculates your taxes from the market values provided by the CAD, applying exemptions and reductions such as the limitation resulting from the “10% homestead appraisal cap.” If property values rise quickly and your value is “capped” for taxes, a successful protest may not reduce the tax liability in the current year.

To continue reading, please visit this article provided by Cheryl E. Johnson

http://www.co.galveston.tx.us/tax_offices/Information/dnload/Effectively%20Protesting%20Taxes.pdf

League City Father Daughter Dance

It is time again for the annual League City Father Daughter Dance!

Join the League City Parks Recreation Department for an evening of fine dining and dancing. The Valentine’s Dance gives fathers and daughters a chance to spend an extraordinary evening together. The dance will take place on Friday, February 6, 2015, from 6:30 pm – 9:30 pm at 2105 Dickinson Avenue.
There will be a live D.J., a catered meal and a professional photographer to capture your special memories (photos will be an additional charge).
To order tickets visit the league city official website!

Bay Colony, League City Real Estate Market Update

Bay Colony Market Update

2014 ended just as strong as it started.  With a record low number of homes on the market it is no surprise that the burn rate held at just over 2 months of inventory.  Just 31 active homes on the market lead to a record high price per square foot sold.  The average home was on the market for 82 days and sold for 85.60 per foot. 

Great news for landlords as well!  Just 8 homes active and renting for an average of $1731/month.  Average days on market to find that perfect tenant…  just under a month.

Curious to see what your home would sell or lease for?  We would be happy to provide you with that report, just e-mail lisa@lisaboland.com or call 281-814-1294.

HOUSTON HOME SALES SHOW NO SIGN OF LET-UP IN SEPTEMBER

Inventory shrinks slightly and prices climb as the home buying frenzy continues

HOUSTON — (October 8, 2014) — The fall home buying season began with gusto in Houston as sales and prices did in September what they have done for months – rose. The continued buying frenzy caused housing inventory to shrink very slightly after holding steady for two consecutive months. And in another scenario that has become all too familiar in this market, prices reached record one-month highs.

According to the latest monthly report prepared by the Houston Association of Realtors (HAR), single-family home sales totaled 6,490 units, an increase of 7.0 percent compared to September 2013. Months of inventory, an estimate of the time required to deplete the current active housing inventory based on the previous 12 months of sales activity, dipped to a 2.9-months supply from a 3.2-months supply last September. It remains well below the current national supply of 5.5 months of inventory.

The average price of a single-family home jumped 8.2 percent year-over-year to $269,440. The median price—the figure at which half the homes sold for more and half for less—rose 7.7 percent to $196,000.

September sales of all property types totaled 7,879 units, a 7.0-percent increase compared to the same month last year. Total dollar volume for properties sold soared 15.7 percent to $2 billion versus $1.7 billion a year earlier.

“As long as consumers continue to snap up homes at the current pace, replenishing our housing inventory will be a slow process,” said HAR Chair Chaille Ralph with Heritage Texas Properties. “Rental numbers were strong in September, suggesting that many would-be home buyers are continuing to go the lease route until the market bears the homes they’re looking for at the price point that suits them.”

September Monthly Market Comparison

The Houston housing market experienced across-the-board gains in September, with total property sales, total dollar volume and average and median pricing all up when compared to September 2013.

Month-end pending sales for all property types totaled 4,143. That is up 17.2 percent compared to last year and is considered a bellwether of continued positive sales activity next month. Active listings, or the number of available properties, at the end of September was 28,946 and is 10.8 percent below last year.

Houston’s housing inventory, after holding steady at a 3.0-months supply in July and August, shrank in September to a 2.9-months supply versus 3.2 months a year earlier. That compares to a 5.5-months supply of inventory across the U.S. recently reported by the National Association of Realtors.

 

Rent with a Right to Purchase

Int 3

Texas Home Shop Realty has access to programs where you can rent with the right to purchase right here in League City and Friendswood.  HUNDREDS of properties to choose from.

Steps

1. Learn about the program. Fill out the “request more info” form below -or- Call Nick 281-216-6150 -or- email at nick@texashomeshoprealty.com
2. Apply online
3. Choose a home currently for sale that you would like to rent
4. The home will be purchased and rented to you
5. You have the right to purchase within the first 3 years for a price disclosed upfront!
* There is no obligation to purchase. Ever.
 

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Home Repairs that Count, part 1

HOUSTON – Best Month in 5 Years!!!

Houston-area home sales had another banner month in August.

Realtors sold 6,600 single-family homes last month. That’s 20 percent more than last August and the highest one-month sales volume in five years, according to a monthly report from the Houston Association of Realtors.

Inventory has fallen to a 10-year low.

August was the 15th straight month of positive home sales across the Houston area, thanks to employment growth and low interest rates, the realty group said Tuesday.

“August rounds out an extremely prosperous summer for the Houston real estate market,” said Wayne Stroman, the association’s and CEO of Stroman Realty. “As we saw in July, homes sold well in every pricing category, but particularly the higher end.”

Sales of homes priced between $250,000 and $499,999 were up 26.6 percent. Those in the half-million to $1 million range spiked 23.9 percent.

The amount of time it would take to sell all the homes on the market is 4.9 months. That’s low, considering experts consider six months to be balanced, where neither buyer nor seller has the upper hand. The national inventory of single-family homes is 6.4 months.

The median price — the figure at which half of the homes sold for more and half sold for less — was up 3.8 percent in August to $165,000.

Other highlights:

  • Foreclosure property sales declined 4.2 percent compared to August 2011. Foreclosures made up 16.8 percent of all property sales.
  • Sales of townhouses and condominiums were up 28.8 percent over last year. A total of 600 units sold last month compared to 466 properties in August 2011. The median price increased 8.5 percent to $130,850, and inventory dropped to 5.6 months.
  • Single-family rentals were up 10.5 percent compared to August 2011. The average rent for single-family and and townhouse/condominiums retreated slightly from July’s record levels. The August average rent for a single-family home was $1,655. It was $1,368 for a townhouse/condominium.

2011 ENDS ON A HEALTHY NOTE

December marks the seventh consecutive month of increased home sales; 2011 bests 2010 in sales volume and pricing

HOUSTON — (January 17, 2012) — After several months in which home sales figures were skewed by the effects of the 2010 homebuyer tax credit, the Houston real estate market concluded 2011 solidly in the black. December marked the seventh straight month of increased home sales and the month contained a host of indicators suggesting a healthy start to the new year. Prices of single-family homes across Greater Houston for full-year 2011 were up slightly from 2010. The median price reached an all-time high for a December in Houston and months inventory hit its lowest level in two years.

According to the latest monthly data compiled by the Houston Association of REALTORS® (HAR), December sales of single-family homes throughout the Houston market climbed 7.2 percent when compared to December 2010. Positive sales activity was recorded in every segment of the housing market except the luxury segment—those homes priced from $500,000 and above—which was unchanged year-over-year.

The average price of a single-family home was statistically flat at $219,791 compared to December 2010 while the December single-family home median price—the figure at which half of the homes sold for more and half sold for less—rose 1.9 percent from one year earlier to $160,000.

Foreclosure property sales reported in the Multiple Listing Service (MLS) increased 6.1 percent in December compared to December 2010. Foreclosures comprised 20.5 percent of all property sales, remaining consistent with the levels they maintained for much of 2011. December’s median price of foreclosures held steady on a year-over-year basis at $82,550.

December sales of all property types in Houston totaled 5,460, up 6.6 percent compared to December 2010. Total dollar volume for properties sold during the month increased 7.5 percent year-over-year to $1.16 billion. On an annualized basis, sales of all property types were up 4.3 percent compared to 2010 levels while total dollar volume rose 5.2 percent to $13 billion.

“2011 ended on a very promising note,” said Wayne A. Stroman, HAR chairman and President/CEO of Stroman Realty.”"We spent a good part of the year struggling to accurately gauge the market because we were comparing to accelerated sales in 2010 that resulted from the homebuyer tax credit. Once we distanced ourselves from that period, we saw clear indications of a healthy market with a balanced supply of housing inventory and strong pricing—conditions that put Houston in an enviable position compared to many housing markets around the country. The key to sustaining that positive momentum in 2012 will be continued improvement in Houston’s employment numbers.”

2011 Annual Market Comparison

The Houston housing market concluded calendar year 2011 with noteworthy gains in sales volume along with strong pricing. Single-family home sales rose 4.0 percent for the year while sales of all property types increased 4.3 percent. On a year-to-date basis, the average price rose 0.9 percent to $213,723 while the median price ticked up 0.7 percent to $155,000. Total dollar volume for full-year 2011 climbed 5.2 percent to $13 billion compared to full-year 2010.

CATEGORIES FULL-YEAR 2010 FULL-YEAR 2011 PERCENT CHANGE
Single-Family Home Sales 51,556 53,606 4.0%
Total Property Sales 61,005 63,610 4.3%
Total Dollar Volume $12,364,327,660 $13,012,903,352 5.2%
Single-Family Average Sales Price $211,765 $213,723 0.9%
Single-Family Median Sales Price $153,990 $155,000 0.7%

 

December Monthly Market Comparison

The month of December brought Houston’s overall housing market positive results when all listing categories are compared to December 2010. Sales of single-family homes as well as all property types rose along with total dollar volume. The median single-family price increased to its highest level for a December in Houston while the average price remained unchanged.

Month-end pending sales for December totaled 2,907, up 3.0 percent from last year and a signal that a further increase in demand is likely when the January figures are tallied. The number of available properties, or active listings, at the end of December fell 14.1 percent compared to December 2010. This absorption of housing inventory accounted for a 20.2 percent decline in months inventory to the lowest level since December 2009—5.8 months versus 7.2 months in December 2010. That means it would take 5.8 months to sell all the single-family homes on the market based on sales activity over the past year. The figure is significantly better than the national inventory of single-family homes of 7.0 months reported by the National Association of REALTORS® (NAR). These indicators all continue to reflect a well-balanced real estate marketplace for Houston.

CATEGORIES DECEMBER 2010 DECEMBER 2011 PERCENT CHANGE
Total property sales 5,122 5,460 6.6%
Total dollar volume $1,079,022,599 $1,159,956,192 7.5%
Total active listings 49,005 42,083 -14.1%
Total pending sales 2,821 2,907 3.0%
Single-family home sales 4,295 4,604 7.2%
Single-family average sales price $220,479 $219,791 -0.3%
Single-family median sales price $157,000 $160,000 1.9%
Months inventory* 7.2 5.8 -20.2%
* Months inventory estimates the number of months it will take to deplete current active inventory based on the prior 12 months sales activity. This figure is representative of the single-family homes market.

 

Single-Family Homes Update

December sales of single-family homes in Houston totaled 4,604, up 7.2 percent from December 2010. This marked the seventh consecutive increase of 2011. Broken out by segment, December sales of homes priced below $80,000 rose 10.2 percent; sales of homes in the $80,000-$150,000 range were up 3.1 percent; sales of homes between $150,000 and $250,000 climbed 7.3 percent; sales of homes ranging from $250,000-$500,000 advanced 12.8 percent; and sales of homes that make up the luxury market—priced from $500,000 and up—were unchanged.

Single Family Home Sales

At $219,791, the average price of single-family homes was statistically flat compared to last December. At $160,000, the median sales price for single-family homes reached a December high for Houston, rising 1.9 percent year-over-year. That compares to the national single-family median price of $164,100 reported by NAR.

Single Family Average Home Price

HAR also breaks out the sales performance of existing single-family homes throughout the Houston market. In December 2011, existing home sales totaled 3,755, a 7.7 percent increase from December 2010. The average sales price edged up 0.9 percent from last year to $203,253 and the median sales price was flat at $145,000.

Townhouse/Condominium Update

December sales of townhouses and condominiums rose 3.2 percent compared to one year earlier. In the greater Houston area, 388 units were sold last month versus 376 properties in December 2010.

The average price climbed 2.5 percent to $173,675 from December 2010 to December 2011. The median price of a townhouse/condominium declined 4.9 percent to $131,750.

Townhouse/Condominium Sales

 

Lease Property Update

The demand for Houston lease properties that prevailed throughout 2011 continued in December, though at a slower pace. Single-family home rentals rose 12.3 percent compared to one year earlier and year-over-year townhouse/condominium rentals ticked up 0.7 percent.

As HAR reported throughout year, this demand was largely perceived as the result of hiring gains that have drawn consumers to Houston from around the U.S. These consumers may not be prepared or capable of purchasing a home for various reasons, among them tighter mortgage lending criteria. According to the Greater Houston Partnership, as of November 2011, the Houston metropolitan area gained 170,700 net new jobs, recovering 112 percent of the 152,800 jobs lost during the recession.

Houston Real Estate Milestones in December
  • Volume of single-family home sales rose for a seventh consecutive month;
  • At $160,000, the median sales price for single-family homes reached the highest level for a December in Houston;
  • Single-family home rentals rose 12.3 percent;
  • Townhouse/condominium rentals increased 0.7 percent;
  • 5.8 months inventory of single-family homes is the lowest level since December 2009 and compares favorably to the national average of 7.0 months.
  •  

    The computerized Multiple Listing Service of the Houston Association of REALTORS® includes residential properties and new homes listed by REALTORS® throughout Harris, Fort Bend and Montgomery counties, as well as parts of Brazoria, Galveston, Waller and Wharton counties. Residential home sales statistics as well as listing information for more than 50,000 properties may be found on the Internet at http://www.har.com.

    The information published and disseminated to the HAR Multiple Listing Services is communicated verbatim, without change by Multiple Listing Services, as filed by MLS participants.

    The MLS does not verify the information provided and disclaims any responsibility for its accuracy. All data is preliminary and subject to change. Monthly sales figures reported since November 1998 includes a statistical estimation to account for late entries. Twelve-month totals may vary from actual end-of-year figures. (Single-family detached homes were broken out separately in monthly figures beginning February 1988.)

    Founded in 1918, the Houston Association of REALTORS® (HAR) is a member organization of real estate professionals engaged in every aspect of the industry, including residential and commercial sales and leasing, appraisal, property management and counseling. It is the largest individual dues-paying membership trade association in Houston as well as the second largest local association/board of REALTORS® in the United States.

    HOUSTON HOME SALES REMAIN IN POSITIVE TERRITORY FOR A SIXTH STRAIGHT MONTH

    November prices are mixed as indicators reflect a healthy year-end market

    HOUSTON — (December 20, 2011) — Consumers kept the Houston real estate market humming in November, accounting for the sixth consecutive month of positive home sales this year. The year-over-year increase in single-family homes sales, along with another rise in pending sales and further decline in months inventory, reflects a market that continues to benefit from a healthy absorption of housing inventory as 2011 winds down.

    November sales of single-family homes rose 11.4 percent versus one year earlier, according to the latest monthly data prepared by the Houston Association of REALTORS® (HAR). On a year-to-date basis, sales were up 4.1 percent. All segments of the housing market experienced growth except for the luxury segment—those homes priced from $500,000 and above—whose decline pulled down the overall average price. The median price saw its biggest increase since February of this year.

    “The November report contains a lot of positive data that suggests the Houston real estate market is wrapping up 2011 on solid footing,” said Carlos P. Bujosa, HAR chairman and VP at Transwestern. “The Greater Houston Partnership has forecast that our region will add more than 84,000 jobs next year, and as long as that’s the case, we would hope to see further strengthening of the local economy, including real estate.”

    The single-family home median price—the figure at which half of the homes sold for more and half sold for less—reached the highest level for a November in Houston, climbing 2.6 percent to $154,950. The average price declined 4.8 percent from November 2010 to $206,969, but still managed to achieve the second highest level for a November in Houston.

    Foreclosure property sales reported in the Multiple Listing Service (MLS) increased 9.2 percent year-over-year in November. Foreclosures comprised 20.2 percent of all property sales, which is consistent with the levels they have maintained since May of this year. The median price of foreclosures in October ticked up 0.8 percent to $80,000.

    November sales of all property types in Houston totaled 4,676, up 10.6 percent compared to November 2010. Total dollar volume for properties sold during the month rose 4.4 percent to $942 million versus $903 million one year earlier.

    November Monthly Market Comparison

    The month of November brought Houston’s overall housing market positive results when all sales categories are compared to November of 2010. Total property sales and total dollar volume rose on a year-over-year basis. The median price climbed to an historic high for a November in Houston. Although the average price declined, it recorded its second highest level for a November in Houston.

    Month-end pending sales for November totaled 3,013. That is up 16.6 percent from last year and suggests another positive month of sales when the December figures are tallied. The number of available properties, or active listings, at the end of November declined 13.0 percent from November 2010 to 45,113. The inventory of single-family homes dropped to its lowest level since January 2010—6.2 months, compared to 7.6 months one year earlier. That means it would take 6.2 months to sell all the single-family homes on the market based on sales activity over the past year. The figure is significantly better than the national inventory of single-family homes of 8.0 months reported by the National Association of REALTORS® (NAR). These indicators all continue to reflect a balanced real estate marketplace for Houston.

    CATEGORIES NOVEMBER 2010 NOVEMBER 2011 PERCENT CHANGE
    Total property sales 4,229 4,676 10.6%
    Total dollar volume $902,512,984 $942,179,593 4.4%
    Total active listings 51,875 45,113 -13.0%
    Total pending sales 2,583 3,013 16.6%
    Single-family home sales 3,568 3,973 11.4%
    Single-family average sales price $217,421 $206,969 -4.8%
    Single-family median sales price $151,000 $154,950 2.6%
    Months inventory* 7.6 6.2 -17.7%
    * Months inventory estimates the number of months it will take to deplete current active inventory based on the prior 12 months sales activity. This figure is representative of the single-family homes market.

     

    Single-Family Homes Update

    November sales of single-family homes in Houston totaled 3,973, up 11.4 percent from November 2010. This marks the sixth consecutive increase of the year. On a year-to-date basis, sales are ahead 4.1 percent.

    Broken out by segment, November sales of homes priced below $80,000 rose 10.9 percent; sales of homes in the $80,000-$150,000 range climbed 11.3 percent; sales of homes between $150,000 and $250,000 were up 17.7 percent; sales of homes ranging from $250,000-$500,000 advanced 13.0 percent; and sales of homes that make up the luxury market—priced from $500,000 and up—dropped 5.7 percent.

    Single Family Average Home Price

    At $206,969, the average price of single-family homes declined 4.8 percent compared to last November. It nonetheless achieved the second highest pricing level for a November in Houston. The depreciation resulted from the lower volume of luxury home sales. At $154,950, the median sales price for single-family homes reached a November high, rising 2.6 percent year-over-year, its biggest increase since February 2011. The national single-family median price reported by NAR is $161,600, illustrating the continued higher value and lower cost of living available to consumers in Houston.

    Single Family Average Home Price

    HAR also breaks out the sales performance of existing single-family homes throughout the Houston market. In November 2011, existing home sales totaled 3,224, a 12.8 percent increase from November 2010. The average sales price declined 6.3 percent from last year to $194,008 and the median sales price edged up 1.5 percent to $139,000.

    Townhouse/Condominium Update

    The number of townhouses and condominiums that sold in November rose 1.6 percent compared to one year earlier, marking the fifth straight monthly sales increase. In the greater Houston area, 322 units were sold last month versus 317 properties in November 2010. The average price climbed 8.4 percent to $172,658 from November 2010 to November 2011.

    The median price of a townhouse/condominium rose 10.2 percent to $135,000. Both average and median prices were the highest ever for a November in Houston.

     

    Lease Property Update

    Heightened demand for Houston lease properties persisted in November. Single-family home rentals rose 13.5 percent compared to one year earlier and year-over-year townhouse/condominium rentals climbed 4.1 percent. HAR has reported throughout much of 2011 that this demand has been largely driven by hiring gains that have drawn consumers to Houston from around the country. These consumers may not be ready or able to purchase a home for various reasons, among them more stringent mortgage lending requirements.

    Houston Real Estate Milestones in November
  • Volume of single-family home sales rose for a sixth consecutive month;
  • Volume of townhouse/condominium sales increased for the fifth straight month;
  • At $154,950, the median sales price for single-family homes reached the highest level for a November in Houston and marked its biggest increase since February 2011;
  • Single-family home rentals rose 13.5 percent;
  • Townhouse/condominium rentals increased 4.1 percent;
  • 6.2 months inventory of single-family homes is the lowest level since January 2010 and compares favorably to the national average of 8.0 months.
  •  

    The computerized Multiple Listing Service of the Houston Association of REALTORS® includes residential properties and new homes listed by REALTORS® throughout Harris, Fort Bend and Montgomery counties, as well as parts of Brazoria, Galveston, Waller and Wharton counties. Residential home sales statistics as well as listing information for more than 50,000 properties may be found on the Internet at http://www.har.com.

    The information published and disseminated to the HAR Multiple Listing Services is communicated verbatim, without change by Multiple Listing Services, as filed by MLS participants.

    The MLS does not verify the information provided and disclaims any responsibility for its accuracy. All data is preliminary and subject to change. Monthly sales figures reported since November 1998 includes a statistical estimation to account for late entries. Twelve-month totals may vary from actual end-of-year figures. (Single-family detached homes were broken out separately in monthly figures beginning February 1988.)

    Founded in 1918, the Houston Association of REALTORS® (HAR) is a member organization of real estate professionals engaged in every aspect of the industry, including residential and commercial sales and leasing, appraisal, property management and counseling. It is the largest individual dues-paying membership trade association in Houston as well as the second largest local association/board of REALTORS® in the United States.

    Homestead Exemption Time.

    Question: How do you know if you already have the homestead exemption on your home in Galveston County?

    Goto http://www.galvestoncad.org/Appraisal/PublicAccess/ and look under your address. It will say what exemptions you have there. I’d be happy to look that up for you as well. 
    If your homestead is not filed you can print out a form from the website and mail it in. Do not pay anyone for this service. There are fraudulent entrepreneurs out there trying to make a quick buck and charge you $30 to file your exemption for you. It is completly free.

    If you just purchased your home last year you might have used the previous homeowners “exemption status” but this year you will have to file your own. I believe you have from January 1st till april to get this done. The exact dates are on the application.

    Great question and give us a call if you need any further help.