Housing market turnaround not yet in sight.

According to rgemonitor.com (an economics website), (7/19/09), “A turnaround in the U.S. housing sector is not yet in sight. While housing starts have stabilized after reaching a record low of 479,000 in April, inventories and vacancies are still at record levels and continue to put downward pressure on home prices. Though the free-fall in residential construction has ended, starts will remain subdued in the coming months, given the inventory overhang and continued weak demand conditions.”

Even if you are not selling your home, you are affected by this pricing pressure. You could be over-assessed on your property taxes, which is the “silent killer” because most of us pay property taxes through our monthly mortgage payment into the escrow account. So we’re not aware of the extra thousands of dollars we might shell out every year for this.

LowerMyAssessment.com is aware of this and can help home-owners save money on their property taxes. This site was designed to make a complicated tax appeal process simple, straightforward and easy.

Labels: assessment, lower property taxes, property taxes, real estate tax, saving money

Another year of home price declines.

As reported in the Washington Post (New-Home Sales Drop Slightly, Push Down Prices 6/25/09).

The Post reported that “median new-home prices fell another 3 percent, to $221,600. A logjam of foreclosed homes on the market has been driving down prices throughout the country. For example, existing homes saw a 16.8 percent decline in median home prices in May, according to industry data released Tuesday. Prices are likely to tumble for another year before beginning to rebound, analysts said.”

Another year of price declines. That means possibly another 2-3 years before prices rebound. Property tax assessments will probably be slow to re-set, so it’s important to ensure your tax assessment follows the decline in the price of your house. Otherwise you will be over-assessed (i.e. over-taxed.) We all feel over-taxed these days—but why accept making additional payments to the tax assessor when this isn’t required? One site, www.LowerMyAssessment.com, specializes in helping people save money by lowering their tax assessment.

Labels: assessment, lower property taxes, property taxes, real estate tax, saving money

Lowermyassessment.com CEO interviewed by The Wall Street Journal

James Deanne, CEO and co-founder of LowerMyAssessment.com was recently interviewed by the Wall Street Journal for a story that ran in yesterdays newspaper.

The story, "Using the Rout in Housing to Lower Taxes", can be found here-http://online.wsj.com/article/SB10001424052970204423804574290151758305342.html?mod=googlenews_wsj

Labels: assessment, lower property taxes, property taxes, real estate tax, saving money

A "silent" tax?

Are real estate taxes a "silent" tax? Most homeowners rarely think about their real estate taxes, as there are few reminders throughout the year to bring them to your attention.

With federal or state income tax you get a reminder that you are paying taxes at least monthly, in the form of deductions on your paycheck. You are reminded of those taxes when you make a charitable contribution (and save the receipt for tax time), and in many other ways.

With real estate taxes, most of us don't think about it. In my case, my real estate taxes are payed out of an escrow account that is part of my mortgage, so unless there is a radical change that increases my monthly payment, I used to never think about them.

With the radical downturn in the economy and the plummeting values of homes in my area, this became something that was worth monitoring. I can save money if my house is over assessed, helping offset some of the loss of value.

Reducing my assessment can also lower my monthly mortgage payment by reducing the amount that I pay into my escrow account.

Labels: assessment, lower property taxes, property taxes, real estate tax, saving money

Lowermyassessment.com selected to present at Finovate 2009

Finovate 2009 presentation now live on the web!

Labels: assessment, lower property taxes, property taxes, real estate tax, saving money

Avoiding forclosure

The federal government has a "plan" for helping homeowners avoid forclosures. There are some good recommendations on their site that let homeowners facing foreclosure, or those just having trouble making their mortgage payments because of predatory loans, get some relief.

If you are facing forclosure, or have had a significant impact in earnings because of layoff or other financial problems, it is worth taking a look to see if you qualify under these new government mandated programs.

http://www.hud.gov/foreclosure/index.cfm

Labels: assessment, lower property taxes, property taxes, real estate tax, saving money

Finovate financial startups

Finovate is a trade show for financial companies that want to show their new technologies to people in the industry. Our sponsor (and the executive team that updates this blog) are attending this year.

There are some great links to companies that provide cutting edge technologies that are providing services that are timely in the current economic climate.

http://www.finovate.com/startup09/presenters.html

Labels: assessment, lower property taxes, property taxes, real estate tax, saving money

Housing prices continue to decline nationally

The Case-Schiller home price index continues to show that housing prices continue to decline nationally. Reports have housing prices falling to the levels they were back in 2003.

http://money.cnn.com/2009/03/31/real_estate/January_Case_Shiller/index.htm

Labels: assessment, lower property taxes, property taxes, real estate tax, saving money

It takes a millage...

Monday, July 27, 2009

Housing market turnaround not yet in sight.

Another year of home price declines.

As reported in the Washington Post (New-Home Sales Drop Slightly, Push Down Prices 6/25/09).

Friday, July 17, 2009

Lowermyassessment.com CEO interviewed by The Wall Street Journal

Thursday, July 16, 2009

A "silent" tax?

Tuesday, June 2, 2009

Lowermyassessment.com selected to present at Finovate 2009

Saturday, April 4, 2009

Avoiding forclosure

Finovate financial startups

Housing prices continue to decline nationally