As interest rates are getting raised by the Federal Reserve, home valuations might suffer and mortgage rates will accelerate higher. Higher mortgage rates dampen demand for real estate, however, in an inflationary environment owning something like real estate makes sense.
Considering the real estate rentals, the economics of real estate ownership might be to one’s advantage. The only accelerating cost resulting from home ownership is the possibility of future property tax increases.
Real Estate Valuation Advice
“Stick to your financial non-negotiables,” she said. “If the current market isn’t conducive to your budget right now, then don’t stretch yourself unnecessarily. With that said, research your options to find the best financing product for you.”
Rueth firmly recommends not waiting. After all, as buyer demand continues to slow down, supply will continue to increase, giving buyers more opportunities. This means right now is a great time to buy a home and start building equity.
“Know your numbers, your budget, your down payment and your limits,” Rueth said. “Go in with eyes wide open; and, when you see a home that has been on the market for more than a weekend, see it as an opportunity to negotiate!”
In the future, if any homeowner is faced with an increase in property taxes, they can and should conduct a basic investigation for an accurate property tax valuation. We suggest a do-it-yourself approach. This isn’t rocket science.
Utilize free valuation guides and aids https://propertytaxax.com/property-tax-assessment/ by going to their homepage. They offer a helpful Property Tax Appeal Mind Map – guides you through winning your property tax appeal
Also: Property Tax adjustment Category Worksheet – a spreadsheet that reveals categories where you can make adjustment for comparative properties. And even: Free access To All Comparable Sold Homes In Your Area – get actual sold data that helps you verified the true market value of your subjects home