Property taxes in Texas can be a significant part of homeownership, and understanding how they work is crucial. Unlike some states, Texas doesn't have a state income tax, which means local governments rely heavily on property taxes to fund essential services. Here's a breakdown to help you navigate the system:

How Property Taxes Work in Texas

  • Appraised Value: Each county's appraisal district determines the value of your property. This valuation is a key factor in calculating your property taxes.

  • Taxing Entities: Your property is taxed by various local entities, which may include the city, county, school district, and special districts. Each sets its own tax rate.

  • Calculation: Property taxes are calculated by multiplying the…

132 Views, 0 Comments

Read Full Post

Introduction:

The real estate market, especially in vibrant areas like Collin County, is a dynamic and complex landscape. Navigating it successfully requires more than just a general understanding of buying and selling. As the market evolves, so do the roles of real estate professionals. One trend that's gaining significant traction is the rise of specialization. But what exactly does that mean, and how does it benefit you, the buyer or seller? Let's delve into the world of specialist realtors and explore why they might be the key to your next successful real estate transaction.

Defining the Generalist:

A generalist realtor is the backbone of the industry, possessing a broad understanding of the market and handling a wide range of transactions.…

175 Views, 0 Comments

Read Full Post

Plano, Texas, a thriving city nestled in the Dallas-Fort Worth metroplex, is renowned for its exceptional schools, low crime rates, and robust economy. This allure has made Plano a sought-after destination for families and young professionals alike.

The single-family home market in Plano is currently experiencing a surge in demand, reflecting its desirability as a place to live. The median home price stands at $475,000, marking a 15% increase from the previous year. The average time a home spends on the market has significantly decreased from 25 days to 20 days, indicating a highly competitive market.

Several factors contribute to Plano's appeal as a residential haven. The city boasts a top-rated school system, the Plano Independent School District,…

273 Views, 0 Comments

Read Full Post

Wylie, has been growing each and every year and The DeBerry Team has been helping people find both new construction & resale homes in this area for a long time. The activity was really good this last year with 588 single family resale homes closed. Prices in Wylie have moved up like many of the areas in Collin County but still remain fairly affordable. Of the single family resale homes sold the largest amount closed was in the $358,000 or more price range. In fact, the single family resale homes averaged a median sales price of $434,0000. Last year on average there was approximately 72 new listings coming on the market each month. The average percent of the median sales price being offered on homes came in last year at 97.1% of list price. However, there…

331 Views, 0 Comments

Read Full Post

It's that time of year again where we are out shopping, decorating trees, our homes, signing Christmas cards and making plans for the Christmas and New Year holidays. The DeBerry Team of KW Legacy continues to help people looking to buy and sell a home even during this time of the year. People in need of our services need them year round and we are always happy to oblige. It is an honor to serve. Due to our longevity in the real estate industry, we have seen a lot of markets. 2024 was a normalizing year or at least that is what we see it. Inventory of homes improved even though buyer demand was a little soft through most of the year. The reason was due to the escalated home prices as well as the interest rates on mortgages. However by the end of 2024 we…

295 Views, 0 Comments

Read Full Post

What a great question? Lots of things come to play when making a decision to make a move. If you have children you may be thinking about their schools and the relationships you don't want to disrupt. You may be thinking about the interest rates or the price to acquire your next home. There are lots and lots of things that go into making the decision whether to stay where you are at or to move to a bigger or even a smaller home. Whatever the reasons, speaking to a experienced, knowledgeable realtor can be of great help. Remember it doesn't cost you anything to have this conversation. Of course, the realtor wants to help you with the sale of your home. However, an experienced realtor does not want a client who is unsure about their decision because it won't…

359 Views, 0 Comments

Read Full Post

There are all types of homes to consider when purchasing a home. However, there are things that a buyer should know before they make an offer on a particular home. In this post, I wanted to talk a little bit about purchasing a foreclosed home in Texas. There are things that don't apply on purchasing a foreclosed over a resale home or even a new construction home. Buyers should know these things ahead of time so that they can make sure they are making the right decision. Your realtor who should have experience in these type of purchases and should be aware of these differences. By knowing this information they can guide you with the correct advice. On a foreclosed home, The "seller" or should I say "lender" is exempt under the law from providing a…

436 Views, 0 Comments

Read Full Post

Finding a home can sometimes feel like a daunting task. It really doesn't have to be. I know there are lots of website with homes being advertised including our own. How do you know where to look and even if you do, does the information provided really help you with your decision? What most people look for at first is a couple of things. They first look to find a home in a location that they want to live in and then look at the prices they feel they can afford. Right? Sometimes, people want to move into a bigger home but not out of the area they are currently in for different reasons. However, some want to move out a ways to get out of the congestion of being in the city. There are many, many different reasons for looking for the right home that will fit…

475 Views, 0 Comments

Read Full Post

The market for resale homes in August is typically more robust in closings than what we had this August.  This August closings on resale homes were down from other August time frames. Why is that happening? We have a lot of things going on today that we haven’t seen for quite some time. Home prices escalated significantly during the pandemic era moving up home prices above the normal increase that we normally see each year. Interest rates moved up significantly then settled back down at a lower rate. Inventory of resale homes increased significantly which gave those looking for homes a lot more choices which in itself can slow down the rate of purchasing a home. Overall, though, the past two months have shown lower closings. Closings normally take 45 to…

496 Views, 0 Comments

Read Full Post

Agents that are looking to gain your business will explain what services you will be getting for hiring them as your agent. Agents are not employed (in most cases) as an employee but they are independent contractors. This means they are in their own business. How do they get compensated? In most cases it is through a commission fee. Not all realtors charge the same fee and therefore it is up to the consumer of these services to get the services they need at the fee they desire. Commissions to realtors are negotiable. Consumers of real estate services have the opportunity to make the best decisions for themselves based on services being offered at the commissions being charged for those services.

Do all realtors offer the same services for the fees they…

619 Views, 0 Comments

Read Full Post