Challenging Your Property Tax Bill

The right to protest your appraised property value is the most important right you have as a taxpayer. You can easily do it yourself or hire a company to protest for you. Like the most citizens, I am willing to pay my fair share of taxes - but not more. I have successfully appealed and gotten my tax bill lowered twice. So if you feel your property assessment is too high, here are steps to appeal.

How To Appeal A Tax Appraisal

• Mail in the protest form attached to your appraisal notice by the May 31 deadline. You may protest any time after May 1st. Do not miss this deadline. There are no extensions.
• Protests must be written. Electronic protest filing is not accepted.
• Include your property address, nature of your protest (i.e. market value) and any other supportive information. A hearing will be scheduled in June or July.
• You must present evidence as to why you think your valuation is too high. Supporting documents and data can include photos, recent sales in your neighborhood, etc. One source of help can be your Realtor. I've helped clients with an analysis of the market, including comparable home sales. The homes you're using for comparison should be as much like yours as possible. Also, include factors that may decrease your homes value. Photos of items that need repairs and an estimate to make those repairs is helpful. Is there anything about your home that negatively impacts its value (heavy traffic, foundation issues, ...)?
• I recommend you have an informal review with a District appraiser which may resolve your issue without a formal hearing. Make this visit before your scheduled hearing with the Appraisal Board. You may call the Dallas appraisal district at 214.631.0910 or visit the Appraisal District office to arrange a meeting .
• The Dallas Central Appraisal District is located at 2949 North Stemmons Fwy. Additional information about the district is available at http://www.dallascad.org/

There are several resources that can help you prepare your case. Some have good background information on the appeals process for each county. The American Homeowners Association has a kit to help you with the process. The National Taxpayer's Union has a booklet ($6.95) on fighting property taxes.

As a licensed Realtor, I am happy to assist my clients with information for their tax appraisal protest, including data about recent sales in their neighborhood . Please feel free to contact me.

Plumber Humor

Got to love this guy's sense of humor. If he lived in Dallas, I'd be tempted to add him to my list of preferred service people just to watch him drive up to a house.

[where: 75230]

Real March Madness

[where: 75230]

Awful Real Estate Photos

These pictures from our local MLS focus on bad photography & marketing. Remember, only 8 to 10 photos can be included to highlight a home's best features and make the buyers want to see more. So these agents have chosen to highlight ...

What a novel feature. Washer & Dryer hook ups. That will definitely help sell this home!

This is from a listing for a multi-million dollar home. It has fabulous amenities. So why do we want to see this shower spout?

Hello Mr. Agent-In-The-Mirror. You could at least put down the notepad and shoot this photo with 2 hands.

This gives a new meaning to Multiple Listing Service. Yes, this is actually one photo.

Free candy with the purchase of every house?

[where: 75230]

Dallas Fog

These photos were sent to me by my friend Cynthia of downtown Dallas on the foggy morning we had on March 11th this year.

How cool is that? [where: 75230]

Local vs. National Stats

The Associated Press reports today that the number of home sales are up while home prices are down for February. The National Association of Realtors releases these national figures, however, our local MLS has monthly statistics for the Dallas area. So how did Preston Hollow fare in February?

For the neighborhoods south of LBJ, north of Northwest Hwy and between Central & Midway:

• 60 sales vs. 79 sales in Feb. 2007
• $696,930 average sales price vs. $590,935 in Feb. 2007
• 88 average days on market vs. 83 in Feb. 2007
• 185 new listings vs. 150 in Feb. 2007
• 55 homes put under contract vs. 95 in Feb. 2007

So we're seeing fewer sales and higher prices - not the national trend.

[where: 75230]

Discount Realtors - Part I

* additional fees apply.

A interesting article in Preston Hollow People focuses on a new discount real estate service in our area. These kinds of agencies are nothing new and some have found success in other areas. However, this new brokerage is locally owned, with a local focus. These look like nice people. But I hope they keep their second job.

One of the reasons these "1%" or "2%" commission companies don't do well in this neighborhood is because folks are smart enough to know that they will typically be paying an additional 3% for the buyer's agent commission. They also get wind of the 'additional fees' that they will be paying outside of the commission. Usually discount companies charge these fees regardless of if the house sells. These fees can run into the thousands of dollars for marketing, advertising, photography, color brochures, internet fees, etc.

In addition to the extra fees, you will probably be showing your home to prospective buyers (often with short notice) and handling your own negotiations. If you want to cut a few corners, don't skip the professional photos featuring the best aspects of your home (take a look at my section of bad real estate photos to get an idea of discount quality).

The marketing strategy for many discount brokerages is that they price the property well below its value to attract attention and hope for a quick sale. Then expenses are kept to a minimum. But if you don't sell in the first 2 weeks, you're looking at spending some money - and you've already priced the home at a discount. There goes the money you saved on a full commission. Double whammy.

If you're one of those people who changes their own car oil to save money, a discount brokerage could be for you. If you'd prefer to program your own computer, then a discount service may be your thing. But I've learned that my plumber is worth his fee and so is my yardman, computer geek, doctor and attorney. I don't have the time, interest or expertise to rotate my tires or balance the chemicals in my pool. A good, knowledgeable professional, who knows how to get the job done, is usually worth the expense.

I'm a full-time, full-service Realtor. I don't charge 3% commission, I earn a 3% commission for my side of a real estate transaction. My straight commission includes expenses with no surprise fees at closing.

[where: 75230]

Happy Easter

Have an Eggstra Special Day!

Texas' Castle Law

Am I the only one who thinks the Texas Castle Law is a rather funny name for what many consider to be a 'Wild West, Redneck' law or the 'Shoot First' law?

This law was approved a year ago, extending "Texans’ rights to use deadly force for means of self-defense, without retreat, in their home, vehicle or workplace". In other words, to protect their 'castle'. Somehow cars and offices got included. Personally, I don't know any gun owners who live in a castle.

A recent survey revealed some interesting results about the right to shoot someone who invades your space. The survey comes on the heals of some recent shootings by citizens protecting their property.

So the next time you want to take the spouse by that nice home you saw with your agent today, think again. Tread through those bushes to take a peek in the window, and you could get more than you bargained for.

Any agent who has been in the business a while can tell you a story about walking into a home (with a schedule appointment) only to surprise an occupant. Hopefully I'll never run into any pistol-packin' residents. [where: 75230]

Incredibly Bad Real Estate Photos

The primary jobs of a listing agent are to market a home, negotiate, handle paperwork, etc. I can't imagine what an agent could do to make up for the lousy marketing of these homes.

When in doubt, use a cell phone camera?

You'll need to lie down to view this house.

Can you guess what time of year this house (or should I say TV) went on the market?

I think this photo was taken by an agent wearing dark pants and a white shirt. Just a guess.

Nice 2 story house. Conveniently located next to the local dog stop.

Back in the Plastic Saddle

The Morning News' Paige Phelps uncovers the patio chair of the year!

Extremis is introducing this urban cowboy seat called the Bronco, modeled after a saddle. They tell us about the ergonomically correct design ...

"The horse saddle shape also promotes an active and straight-up seating position which is good for your spine. Not a luxury though, Qrater nights can be long... Bronco is made of rotation moulded polyethylene. A bar stool version is currently being developed."

The Bronco chair goes for $300 and the Bronco Barstool (complete with molded footrests made to feel like stirrups) sells for $450 at Positive Space in the Design District.

Round up your urban cowboy friends. With the comfort of a saddle and handy place to put your beer, there's no buckin' around with these chairs.

[where: 75230]

Best kind of St. Pat's Green

Happy St. Patrick's Day!

Today is a great time to join the green movement in Dallas. Find out more about recycling, making your home energy efficient and how you can help our city become Green.

[where: 75230]

Quote for the Day

A cynic is a man

who knows the

price of everything,

and the value

of nothing.

- Oscar Wilde

The Cost of Dirt in Preston Hollow

If you're wondering what lots are selling for in the Preston Hollow area, here is the latest estimate of the price of raw land (according to Dallas' top appraisers). These are for standard lots (under an acre) on typical residential streets. Lots that have a larger or small road frontage will vary in price, as will irregular lots. Busy streets sell for less.

"Golden Corridor" between the Tollway & Hillcrest:

South of Walnut Hill $40-$45 sq ft (but there was a recent record high sale of $60 sq ft)

Walnut Hill to Royal Lane $45-52 a sq ft

North of Royal Lane $27 - $30 sq ft

"Estate" properties (an acre or more):

South of Walnut Hill $1.8 to $2.7 million an acre

North of Walnut Hill $1.4 - $1.8 million an acre

Strait Lane area $2.6 million an acre

New Hillwood development $2 million an acre

Russwood Area $1.6 - $1.8 million an acre

(You'd be surprised at how few multi-acre properties there are south of LBJ. Probably less than 150.)

Other areas in our proximity:

Bluffview $35 - $40 sq ft

Devonshire $35 - $40 sq ft

Lively/Woodfin area $30 - $35 sq ft

Hockaday area $35 - $40 sq ft

Some of the best bargains in land right now are just west of Midway Road - where you can still get land under $30 a sq ft.

Keep in mind these are current appraisal estimates. Every piece of land has it's own unique characteristics (number of trees, privacy issues, etc) that helps determine its value.

[where: 75230]

Who Lives in a Pineapple under the Sea?

I'm trying to figure out where the latest rage in pineapple decor is coming from. I know that the pineapple is a traditional symbol of welcome near home entrances in the south. Its been popular for years. But I'm seeing this fruity motif everywhere - and I'm not talking about on Southern Plantations or in Hawaii.

There are pineapple chandeliers and pineapple lamps ...

in addition to the pineapple tables, doormats, doorknockers, fencing, tableware, doorstops, ...

Not to be outdone, we have the line of pineapple outdoor lighting. I think it has that football trophy kind of feel to it.

If you're looking to stand out in the neighborhood, this would do it. But somehow I think the Homeowners Association will not like this unique fixture any more than I do. And Sponge Bob has nothing to do with it.

Really Horrible Real Estate Photos

This week's photos from our DFW MLS system. I still don't know how folks put up with these kinds of photos from their agent.

So this is what it feels like to live in a cave.

Is that a swimming pool in the living room?

Shiver me timbers! Grab the lifeboats.

Its always a good idea to pay the electric bill before putting your house on the market.

This expensive home probably has a great view of the golf course it sits beside. But they thought you'd rather see the dog's rear end.

Mortgage Rates ... going up or down?

Hardly a week goes by that someone doesn't ask me about mortgage rates and where they are headed. They're going up ... and they're going down. Right now, some people are predicting that the Federal Runds Rate will be cut 1/2% in March and maybe again in April. Others are predicting that rising inflation will buoy sinking mortgage rates and they will rise. I can't be certain what they will do. I recommend mortgage experts to assist my clients. These are folks with a proven history of not only getting the best rates and terms on a mortgage, but making sure the transaction closes with minimal difficulties.

While I don't know everything, ... I know the people who know everything. And I'm happy to pass along their names if you give me a call.

Remember -

People Drive Markets

Markets Drive People

and currently, anxiety drives both

2008 State Fair of Texas

The Dallas Morning News Blog reports the theme of the 2008 State Fair is

"Ignite Your Senses!"

Sounds like kind of a G rated version of "Light Your Fire". Since I judge the homemade ice cream competition every year, this really appeals to my sense of taste - in a cool way, not the flaming way!

The Woodlands Restaurant

Had a wonderful lunch today with my friend Valerie at new The Woodlands restaurant across from my office. The lovely mid-century modern design reminds me of the new Aneita Fern store across from the Galleria that carries Frank Lloyd Wright inspired pieces and specializes in Stickley furniture.

The food is great and the service outstanding. Add this place to The Mercury and Popolos for a trio of dependably fine dining. They seem to be getting good reviews here , here and here.

Cool Art

In this day of photoshop and computer graphics, I am fasinated by the unqiue works of artist Guido Daniele.

Blogmaniac Merrill Dubrow is a creative type who finds this kind of out-of-the-box stuff on a regular basis. See his site for more amazing photos.

New Development on LBJ

Michael Davis at Dallas Progress blog gives an exciting report of developments on the north side of LBJ just east of the Galleria (at the old chevrolet dealership), recently approved by the city. Included in the project are a high-rise hotel, retail stores, restaurants, an upscale movie theater and high-rise condos. Really big bucks going into what promises to be a fantastic development.

Busy Weekends

The Years have

been Good to Me ...

It's the Weekends

that have

Done Me In!

Don't Forget this Sunday

Daylight Saving Time starts Sunday morning, March 9th.

Set your clocks forward 1 hour.

And check your smoke alarm batteries.

Retiring to Texas

We've all heard over the years about retirees settling in the south to enjoy their golden years. Typically areas like Florida and Arizona have a big focus on attracting people 65 and older.

Recently Texas, Florida and Georgia topped the list of migration destinations for people 65 and older, according to a study by National Active Retirement Association (NARA). Experts on real estate trends tell me that Texas will be seeing a bigger piece of the retiree pie over the coming years.

The idea of where to live in retirement generally focuses on finances, relationships (family, friends,...), medical facilities, climate, activities, transportation, and educational possibilities. Add the affordabilityof real estate in Texas, and we are an ideal state for retirees.

Look for savvy builders and residential developers to focus not only on the aging baby boomers of Texas but on attracting retirees from across the country and the world.

We Could Starve!

4:30 p.m.

The sleet & snow is starting in our neighborhood. The local Pizza Hut (near Preston & Royal) is quoting a 2 hour delivery time for a couple of pizzas!

What's a mother of 3 teenagers to do?

Real Estate Ad

OK. I usually don't care for ads that disparage Realtors. However, you've got to admit that this one is really funny.

The company running the ad is OptHome and they claim to check out agents and recommend the best ones. What they don't mention is that agents pay to be on their list.

I never pay to be included in any agent lists and I personally think you should be wary of agents who are only recommended by companies that they pay to recommend them. Just because an agent doesn't violate any laws, doesn't make them a good agent. Most successful agents get their business by referrals from happy clients.

So while I wouldn't recommend this 'service' ... they sure have a unique advertising campaign.

Horrible Real Estate Photos

This week's worst real estate photos from our local MLS:

Hey Tarzan! Swing on down for dinner.

I don't think the grass could get any greener on the other side.

Oh look. My favorite soap opera is on TV.

Is it raining in this house?

Can't figure out what this is a photo of? Join the club.

But I think it could be ...

... a ceiling complete with two skylights and a burned out light bulb.

If you've missed my past posts of bad real estate photos, here they are:

Bad Real Estate Photos

More Bad Real Estate Photos

Terrible Real Estate Photos

Really Bad Real Estate Photos

Are You A Big Shot?

Big shots are only little shots who keep shooting.

~Christopher Morley

Run, Don't Walk

... to your mortgage company. If you've been on the fence about buying or refinancing, it's time to get off and head to your lender. Interest rates have inched down even further in the last few days.

Rates have been tied to the stock market. Money that leaves stocks goes to fixed investments, helping the mortgage rate. The lower dollar also brings in foreign real estate buyers, (mostly from Europe and Canada right now). Lock in a rate for 60 days if possible to give yourself enough time to get your deal closed.

It is impossible to predict if rates will go down any further, so my advice - be quick to act.

Real Estate News

Great news! Real Estate supply in our area has stayed in balance in early 2008. It looks like lots of folks are waiting for the market to improve before listing their homes for sale.

Areas south of LBJ haven't really been negatively effected by the housing slump. In Preston Hollow we currently have an 8 to 10 month supply of housing for sale. In the Park Cities there is about a 6 to 8 month supply of homes for sale. Some suburbs have more than a 12 month supply of housing inventory which does not bode well right now for sellers in those towns.

Traditionally in our area, home inventories of 6 months or less signal a seller's market, while inventories of 10+ months signal a buyer's market.

Happy Independence Day

Today is Texas Independence Day!

The Texas Declaration of Independence was adopted on this day in 1836 in the small town of Washington in an unfinished, windowless & doorless building. Early Texans didn't consider themselves Mexicans or Americans, and the creation of the Republic of Texas gave birth to not only a dream, but to a mystique.

Texas Independence Day is an official holiday in the State of Texas where we celebrate our distinctiveness. Texans really are a different breed and March 2 is to Texans what St. Patrick's Day is to the Irish.

Happy Independence Day to my fellow Texans!