It's a heck of a thing to see your taxes go through the roof just because the "market" is so hot.
Tell me about it! LOL! At least I have some of the "old people discounts". I really wonder how older folks less well off than me manage to pay their increasing RE taxes. I am paying about 1% per year on a rapidly increasing value. Thinking about cashing out while the market is good and moving to a smaller and more conservative city.
If you don't mind me asking, what smaller city are you thinking about.
Good question! I used to think Dripping, but now it is a raging metropolis also. Needs to be farther out and most likely west.
I used to drive through Hico alot a few years ago. It always looked like a nice place.
Had to look that one up, it's too far north for me. I might have to go out as far as Llano or thereabouts.
I've owned 3 other homes in other states and had no problems of any kind. In Texas, everything was different.
The mortgage people absolutely ran me through the meat grinder, delved into every aspect of my life and that went on for weeks! Every day, it was a new issue. I have a spectacular credit rating, good income and virtually zero debt. Still, the interrogation continued.
I had a pile of money in savings so they asked me to sign a statement that the money was mine, not borrowed or encumbered. It was understandable why they needed a statement like that so I was glad to comply. A few more days of being put through the ringer passed, then they wanted me to account for every Dollar of that savings. How and when I received it was also required. I refused to do that and told them that I was fed up with the interrogation process. The guy said "I'll just disallow the loan!" I replied "Get after it!"
The loan went through but at closing, it became clear that the bastard bumped up the interest rate far above the rate that we "locked in". I called the guy at closing and he said "take it or leave it." I went ahead and took the beating but later refinanced at a much lower rate.
Buying property in Texas? Don't believe a word that they say, don't trust them and be prepared to fight. Buying property in Texas is a blood sport.
Flash
We had this same issue in early to mid 2015. We were offering usually 10k over list, plus offering double the holding fee or whatever its called, plus writing letters. We were the best and highest offer on all 11 houses we offered on. Our main issue was we were using VA loan versus all the cash buyers coming in from Cali. People would rather take list or lower than list if you have cash versus waiting for a bank to approve everything. My wife did most of it on her own and it was practically hell on earth. We got very very lucky in our purchase. Property values are through the roof and are only going up still. Good luck to you and keep at it. We liked redfin the best for searching.
Tell me about it! LOL! At least I have some of the "old people discounts". I really wonder how older folks less well off than me manage to pay their increasing RE taxes. I am paying about 1% per year on a rapidly increasing value. Thinking about cashing out while the market is good and moving to a smaller and more conservative city.
Buying property in Texas? Don't believe a word that they say, don't trust them and be prepared to fight. Buying property in Texas is a blood sport.Flash
I went through a similar situation when I was first getting my loan done, I had to explain some of the deposits. Like, where did this 150.00 dollar come from that you deposited on 04/14/2016. My mortgage broker just told me to write whatever it' won't get verified but they just wanted a statement for it and that it wasn't borrowed. I was so blown away at all the questions I was getting... I felt like I was undergoing a high level security clearance check.
Did you feel writing letters to the owners worked? My realtor advised us to write a letter to the owner and explain who we are, why we want their house and ect.
I'm wondering this some of the property value especially in the hot area's like Lower Greenville has increased so much I wonder how some of the long time home owners that bought the house decades ago have been able to afford the property tax.
I am going to put my house in South Austin on the market around June and move to our Property south of College Station. The market is great for sellers right now. Anyone want a 3400SqFt house in Circle C. I could save a shit ton in realtor fees doing an off market sale.
I generally don't present letters from prospective buyers, and many agents don't. I'll tell the seller I got one, but generally only present the offer (contract) to the sellers.
What will complete a sale is a good agent that can make friends with the listing agent, a rude or rough buyer's agent - or one with a bad reputation in the industry - can kill a deal more quickly than a bad offer. I have more than once had an offer that wasn't the best, but got the deal closed due to courtesy, respect, and general professionalism.
Damn man, it's 6%! Some of us work for it!
Eli
............my last realtor.........was ready to take the sellers offer without a counter.