TCAD 2010 Preliminary Values are live... (Austin: sales, real estate market, condos)

[Biscuits]

Travis Central Appraisal District

[HappyTexan]

Thanks..wow, I'm down $35K from 2009 values. Land stayed the same..house value went down.
That puts me back to 2004 values.

[Exiled Texan]

Interesting. I sold my place on the the east coast at its 2004 value.

[AustinSpartan]

Valued 14k greater than what we paid. Time to gather my paperwork.

[llkltk]

16K greater in SW Austin. Can a realtor chime in on why values in Central Austin are dropping but are increasing in SW Austin?

[pjoseph2]

Originally Posted by llkltk

16K greater in SW Austin. Can a realtor chime in on why values in Central Austin are dropping but are increasing in SW Austin?

Not a realtor, but maybe (just maybe) those pre-WW II shacks in Central Austin are over-rated? How can you put a value on vibe anyway

As compared to the Casitas in SW Austin.

Never thought i'd say this. But i've got to commend Travis County for an accurate assessment overall. The preliminary values (from my unscientific, anecdotal) minuscule sample seem to very closely reflect the current real estate market conditions.

[centralaustinite]

High end sales are happening much less often in central Austin, even in NW Austin. Most sales over the past few months have been at the low end and often first time buyers.

My value from last year is unchanged (from the value that I protested to get). My neighbors who still live in fantasy land (wouldn't protest because they thought it reflected market value) saw small drops this year but they still aren't near my much lower assessment. I might try to get it even lower.

Central Austin is also facing pressure from the downtown condos -- they are draining away the wealthy buyers who don't care about the size or the yard or the schools. Long term, I'm not worried, my central house isn't a shack, my home isn't an investment, and we are happy here.

[GreenPlastic]

From the small sample I checked of my central Austin neighbors, I think TCAD's strategy was to keep the same or reduce a little and hope that people don't protest in the same numbers as last year. Mine was reduced by 1%...I will be protesting again.

[calien]

2% decrease after being robbed by a 3% increase last year. Accounting for the tax credit, they basically said that my house has increased in value 3% over the last two years when all the evidence is to the contrary.

My home was purchased in 06 and is still appraised higher than my purchase price, while my neighbor across the street has seen his appraisal come in approx 150K less than his 06 purchase price. We're almost priced at parity when there are distinct reasons his home cost nearly 180K more than mine.

I'll have the same argument this year at protest as I had last year, hopefully I'll have a better result.

[passionatearts]

Wow, these guys at TCAD must be smoking crack - my house in Central Austin is valued at $100,000 more than what I paid for it in November 2009!