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Old 05-22-2008, 10:49 AM
 
16,087 posts, read 41,159,147 times
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Report: Dallas-Fort Worth home prices rise; U.S. values plunge | Dallas Morning News | News for Dallas, Texas | Dallas Business News (http://www.dallasnews.com/sharedcontent/dws/bus/stories/052208dnbushomepriceindex.aad42d.html - broken link)
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Old 05-22-2008, 11:43 AM
 
4,173 posts, read 6,686,719 times
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Nice to know
Acc to the Wall Street J online, the 1.7% quarterly drop (nationwide) was the highest on record. Some people seem to think with the tight credit, increased inflation and the existing issues, it will be another 1-2 years before the national numbers rebound. Wyoming was #1 in appreciation, TX was #4.
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Old 05-22-2008, 12:40 PM
 
Location: Irvine, CA to Keller, TX
4,829 posts, read 6,930,324 times
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Quote:
Originally Posted by Lakewooder View Post
Report: Dallas-Fort Worth home prices rise; U.S. values plunge | Dallas Morning News | News for Dallas, Texas | Dallas Business News (http://www.dallasnews.com/sharedcontent/dws/bus/stories/052208dnbushomepriceindex.aad42d.html - broken link)
That is good news, I guess. I don't plan on selling my house. I will leave that up to my children when I am gone. In the meantime I would like my property taxes to stay as low as possible so I guess this is a mixed blessing.
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Old 05-22-2008, 01:27 PM
 
Location: DFW, TX
2,935 posts, read 6,715,978 times
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Quote:
Originally Posted by Soccersupporter View Post
That is good news, I guess. I don't plan on selling my house. I will leave that up to my children when I am gone. In the meantime I would like my property taxes to stay as low as possible so I guess this is a mixed blessing.
In theory the property taxes should be a function of the revenue required, not of the value of the homes. If the value of the homes in a city increases to give an additional tax revenue of $1 million to the city, but the projected budget only required an increase of $150k, the tax rate *should* be lowered so there isn't an $850k surplus.

Now if that isn't happening, we as voters aren't doing our jobs...
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Old 05-22-2008, 02:13 PM
 
Location: Deep in the heart of Texas
1,914 posts, read 7,148,973 times
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Quote:
Originally Posted by twojciac View Post
In theory the property taxes should be a function of the revenue required, not of the value of the homes. If the value of the homes in a city increases to give an additional tax revenue of $1 million to the city, but the projected budget only required an increase of $150k, the tax rate *should* be lowered so there isn't an $850k surplus.

Now if that isn't happening, we as voters aren't doing our jobs...
Actually that is the way it works. A city levies a tax rate in order to support it's M&O (General Fund- operating) and I&S Funds (to pay off debt) There is a certain percentage you can't go over. It's a governmental accounting principle.
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Old 05-22-2008, 02:45 PM
 
Location: DFW
40,952 posts, read 49,183,047 times
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In most cases our real estate market is always backwards from the East / West Coast fiasco.

We have slow, steady & strong growth in our economy and real estate. When the West coast booms or bust we are still slow & steady. Lately in the areas I service, good houses are selling extremely well and prices are up 5-10% in the last 4 months. Many areas like Coppell are seeing multiple offers the first few days they hit the market.

Great location & great schools... a tough combination to beat.
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Old 05-22-2008, 03:31 PM
 
4,173 posts, read 6,686,719 times
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Seems like with more people moving into DFW, the "megatrends" for this area are good for the next 5-10 yrs, with perhaps no serious issues in the next 1 year as the national market corrects itself.
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Old 05-22-2008, 04:10 PM
 
16,087 posts, read 41,159,147 times
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I searched duplexes in 75206 and 75214 up to 450K (I think) the other day and there was nothing on the market - usually there are 7 or 8. So I am guessing they are selling well, as the last one I saw was over 275K for a dinky 1 bedroom.
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Old 05-22-2008, 09:58 PM
 
Location: Norcross GA
983 posts, read 4,442,007 times
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No surprise the greatest decline was in California. But I guess it would have to be when it goes from a value of 650,000 to 400,000!
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