BCAD Appraisal Values out for 2012 - How did you do? (Howe: new house, neighborhood)

[hillcountrywinefan]

Originally Posted by HeyEng

True statement. Values have indeed come up...if you are in the right area. My SO is a Realtor and there has been a definite up-tick in the market over the last 60-90 days. And yes...assessed value has NO correlation to actual value. Texas is a non-disclosure state on sales prices so you need a Realtor (or someone with MLS access) to tell you what sales prices have been.

Absolutely correct! Several family members are in the realty business and they confirm this.

The BCAD ppraisal was only 0.75% less than last year. But the actual value of the house has gone up.

[quovadimis]

Our appraisal is going up $24,000 and we just bought our house 2 weeks ago. Even so the appraisal is about $50,000 less than what we paid for the house.

[mrsb057]

Down $1070.

[IntentionallyBlank]

Originally Posted by quovadimis

Our appraisal is going up $24,000 and we just bought our house 2 weeks ago. Even so the appraisal is about $50,000 less than what we paid for the house.

We bought our house a year ago this month and it went up $63,000-something. They also upgraded the class code, which I think we're going to appeal. Our house is well restored and in great condition but not in better condition than some of our neighbors who have lower (and presumably cheaper?) class codes. Admittedly, though, I have a lot to learn about this whole process.

[Rasero]

So I had a realtor run a CMA for me, for my neighborhood. I found out that the house right next to me that sold just a month ago, sold for $27k more than the city's appraisal. My house is larger, with several additions we did (enclosed office, tile on the first floor, a nice 10x10 uncovered patio which we are thinking of covering), so I figured I could sell my house for a reasonable amount if I wanted to. Probably about $30k or more of the city's appraisal.

So that helped with some of my uneasiness. Now I'm more content, knowing that my house is worth a lot more than the city says it is, and that I'll be paying $350 less in property taxes this year. Guess I will go ahead and buy those Sea World passes for my family of 5 that I'd been putting off.

I noticed that Zillow.com's figures are a little out of whack as well. Do you all put much faith in that website? I don't know how they come up with their figures, I guess just by going off the city appraisal and rental data.

[jwebtx]

up $12,000.

[Xymox]

Originally Posted by Proffer

I noticed that a lot of Monte Vista homes' assessed values increased a good 5%. If assessed value has nothing to do with actual value, then wouldn't all neighborhoods rise and fall similarly as a matter of public policy? Hmmm

Also, what keeps the low/middle income government workers who work for the appraisal office from sticking it to the people in the wealthier neighborhoods, out of subconscious bitterness, or to get their jollies, if nothing else?

Well, wealthier people have lawyers and are willing and able to put up a fight. I know someone who used to be an appraiser for bcad who always tried to be fair. Can't speak for all of them, but if nothing else I would think they'd prefer not to have to deal with a lot of contested properties.

[quovadimis]

We closed on our house 2 weeks ago and Zillow was all over the map for us concerning prices. Sometimes they were close to the CMAs the realtor pulled and sometimes they were completely out of whack. At the 4 homes we looked at seriously, in all cases, the San Antonio property appraisal was less than what the realtor felt the home should sell for by a significant amount....way below what the homes were for sale for.

[Lordfalco]

Originally Posted by Rasero

So I had a realtor run a CMA for me, for my neighborhood. I found out that the house right next to me that sold just a month ago, sold for $27k more than the city's appraisal. My house is larger, with several additions we did (enclosed office, tile on the first floor, a nice 10x10 uncovered patio which we are thinking of covering), so I figured I could sell my house for a reasonable amount if I wanted to. Probably about $30k or more of the city's appraisal.

So that helped with some of my uneasiness. Now I'm more content, knowing that my house is worth a lot more than the city says it is, and that I'll be paying $350 less in property taxes this year. Guess I will go ahead and buy those Sea World passes for my family of 5 that I'd been putting off.

I noticed that Zillow.com's figures are a little out of whack as well. Do you all put much faith in that website? I don't know how they come up with their figures, I guess just by going off the city appraisal and rental data.

Yeah, I was looking at purchasing a vacation home and used Zillow to get pricing, but after looking on Zillow I gave up because the data was just too sketchy. Zillow's pricing is completely out of whack and it's not just you. Many Realtors are now distancing themselves from that website as it not accurately representative of real home values.

[TexHwyMan]

Up 5%.