The property value writing is on the wall. Future property values are going to decline, big time!
Here’s a move that can put money in your wallet if you’re a homeowner. This is from Daily Mail with the latest headline issuing a future heads-up alert for property tax appeals (if you can read between the lines):
Is America on the verge of a house price collapse? Property value prices could crash by up to 20% and homes are overvalued by as much as 72%, expert warns
- Boise, Idaho; Charlotte, North Carolina and Austin, Texas were the three most overvalued areas in the United States, according to Moody’s Analytics
- Moody’s found that found that 183 of the nation’s 413 largest regional housing markets are ‘overvalued’ by more than 25 percent
- If a recession hits, house prices in those 183 regions could plummet by as much as 20 percent, Moody’s predicted
- If there is not a recession, they will still fall 10-15 percent, the analysts believe – echoing other experts
- The housing inventory is at its highest level since April 2009, as sellers struggle to get rid of their property because mortgages have become more expensive
Last week, investors were surprised by Jerome Powell’s remarks from Jackson Hole. He forecasted a lengthy period of interest rate hikes to stem high inflation.
This lengthy and restrictive monetary policy will bring down housing prices. Unfortunately, there will be many societal consequences.
Property Values and Property Tax Appeals
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Learn More Here, Click: Real Estate Appraisal and Property Tax Appeal Training Course
Property value is always in flux. In the near future, when doing a comparative analysis for sold homes selling for lower prices, chances are increased for finding lower priced comparatives against a municipal levied assessed property valuation.
With the Fed’s action, mortgage rates are going to rise. Housing prices will go down … and the whole economy will slide into more of a recession. More and more people will be looking to economize.
Whether conducting a property tax appeal for yourself or others, reducing a property tax bill by just $500 can easily result in over $5,000 in savings over 10 years. Municipalities might not do blanket property tax revaluation for an area for another 10 or more years in the future.
Odds Are The Property Value Is Changing
Considering there is a 40 to 60 percent chance your property tax assessment is incorrect, according to professionals, you can discover the truth!
Property tax consulting is a viable side business that anyone can gain proficiency with following this course. It covers both residential and commercial real estate. There is a huge unmet need for help reducing one’s overhead.
All that is needed is to compare properties worth with reality. The municipality will not go out of its way to do this kind of service. If one does not appeal, NOTHING will happen.
This is a six-figure potential side business for those who venture into this realm of reaching out to victims of over-assessment. The rewards are great for aligning property values with reality. You’ll be loved for the results you deliver.
Access the free version of our Real Estate Valuation and Property Tax Appeal Training Course.
Click on this link immediately to receive your complimentary Property Tax Appeal Starter Kit without delay.
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