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You may not know this, but county assessors reassess property values every two years on the odd year in the state of Colorado. So as we speak county assessors are adjusting property values. In late April, seven metro area county assessors held a news conference to announce spikes in median home property valuations ranging from about 17 percent for single-family homes in Douglas County to 40 percent for all homes in Adams County. Property tax increases will vary greatly depending on factors such as recent sales, neighborhood popularity, amount of new construction and affordability.
June 1st is the deadline for protests to your property valuation, but before you protest make sure you log into your county assessor’s website to confirm the information on your home is accurate. Then, calculate if your time is worth the effort – you will spend upwards of 700 dollars for a home appraisal and you may only save $50 to $100 in extra property taxes. Read the full article from the Denver Post in our eNewsletter on six things you need to know about protesting your property taxes and for links to your county assessor’s website.
Every year, Gallup surveys Americans to determine their choice for the best long-term investment. Respondents are given a choice between real estate, stocks/mutual funds, gold, savings accounts/CDs, or bonds. For the fourth year in a row, Real Estate has come out on top as the best long-term investment!
You heard that right – out of the top five investment vehicles, real estate has remained at the top for nearly half a decade. Is real estate a part of your investment portfolio? Well if you own a house, the answer is yes. Do you have equity just sitting in your house? Have you ever thought of using the equity to buy a rental property that cash flows? Chances are if you have owned your home for at least three years, you’ve got some equity available. And with that equity comes the option to convert your equity into an income producing rental home.
Now this can all seem a bit overwhelming, I get that, and without fail at least half of you out there are thinking to yourselves “I don’t want to get a call at two o’clock in the morning about a broken toilet” Well – with the right strategy in place … along with a great property manager, owning investment real estate is actually easier than most people think. To learn more about this, give us a call and we can discuss options and strategies available to you.
If you are one of the many that are debating purchasing a home but are not sure if you will buy now or wait until next year, Freddie Mac predicts that interest rates will increase to 4.8% by this time next year, and over the last three years we’ve averaged right around 9 to 10 percent in home price appreciation for the Denver Metro area. Bottom line prices are continuing to rise along with interest rates. So to use an adage I’ve heard many times … When’s the best time to plant a tree – 20 years ago, when’s the second best time? Today! Read more in this month’s enewsletter.
Hopefully this video and the included enewsletter provide you great value or at least some little nuggets of information that keep you up to speed with today’s strong, strong real estate market. If there is any information or specific data that you would like to see in upcoming newsletters – shoot us an email and let us know. We look forward to being of service.
Scott Futa | The Scott Futa Home Team
Keller Williams Action Realty, LLC
140 S. Wilcox Street
Castle Rock, CO 80104
(303) 225-2707 | Team@ScottFuta.com