Dallas Fort Worth real estate news, local home price trends, statistics, and profitable insights written by Chandler Crouch Realtors.

April 16, 2018

Tax Protest FAQ's

To get our help protesting your property tax value (for free) go to www.chandlercrouch.com/protest

I apologize for the brevity. Right now I'm in the middle of helping thousands protest their taxes, so I'm making this blog post in ad-hoc fashion. This won't start as a comprehensive FAQ post, but it might be someday. As I answer people's questions, I will add my responses to this page. 

  • Why are you protesting for me every year? 
    • Originally, we helped by answering questions. Our service evolved. We now offer to protest for you for free. To do this the state requires written authorization for us to handle your property tax account. When you complete our free protest request form, you are agreeing for us to place your electronic signature on this form. 
  • How do I cancel?
    • Just complete this Revoke Property Tax Agent 50 813 form and send it to aoa@tad.org This email is purely for appointing tax agents and revoking tax agents to your account. It's free to cancel. We just ask that you send an email to let us know.
  • When will my protest be complete? 
    • Filing the protest and completing the protest are two different events.  Your protest will be filed before the May 15 deadline.  We will attempt to complete your protest as quick as possible. this year will take a  little longer than next year because they are processing documentation that allows us to protest on your behalf.  They don't give us a timeline on when the hearing will be scheduled, but it will be before July 20th because that is the appraisal district's own internal deadline.  We will try to complete your protest will in advance of the actual formal hearing date, so I expect to complete them much sooner.
  • How will I know when my protest is complete?
    • We will send you an email to let you know once your protest has been completed
  • How can I find out the status of my protest?
    • It is challenging to communicate with several thousand people, but we've figured out some ways to manage everything in a practical way so that we can still offer these services for free.  Please try to help by not emailing to ask about the status of your protest.  I know this can be difficult.  I understand.  Just know, this email serves as your status update that your protest will be filed as long as you completed our form with accurate info.  Due to high volume, the best way for us to update you is by posting updates on our Facebook page.  To receive notifications, please "Like" the page: https://www.facebook.com/chandlercrouchrealtors/
  • Who will send me emails?
    • Emails regarding tax protests will come from protest@chandlercrouch.com  Please add this to your email safe list to ensure you receive all our communication does not get flagged as spam.
  • Is it necessary for me to send you photos or repair quotes?
    • No.  We can complete your protest using the market data we have access to as Realtors.  If, however, you have any photographs or repair quotes that show the property was in disrepair as of 1/1/2018, you are welcome to send them to us at protest@chandlercrouch.com  Please make sure to include your property address in the email.  Unfortunately, flooring, paint, landscaping and fencing issues aren't taken into consideration by the appraisal district. 
  • What can I do to help you? 
    • The best thing you can do is share our link in Facebook groups, at church, in your neighborhood or with anyone.  We are trying to help as many people as possible.  It may motivate people if you tell them all they need to do is sign up once and we'll protest for free every year and they can cancel at any time.  Also, if you know of anyone looking to buy or sell a house or anyone that might want to be a Realtor with our company, please send them our way. 
Posted in Property Tax
April 13, 2018

Home Repair Checklist DIY Inspection

Home inspections by a licensed property inspector are well worth the money.  They have tools to test various components (eg hvac), and experience of seeing hundreds of houses. You can't replace an expert with a checklist.

 

You can, however, use a checklist like this to prepare your house for sale, eliminate issues to avoid an overly negative inspection report, and help to find issues for your property tax protest.

Here is a link to the home inspection checklist

 

March 21, 2018

Property Tax Problems and Solutions

As my team protested for over 3200 people (for free) my team and I became aware of many problems in the system. We also began proposing some solutions.

If you can help identify problems or brainstorm solutions, please write them in the comments below, or contact us directly to discuss them. We want your input!

(Also, if you would like to put your technical writing skills to good use and help edit this document, please contact us)

 

Posted in Property Tax
March 21, 2018

Homeowner Advocacy Group - By Expert Property Tax Realtors

If you are a REALTOR who is passionate about providing expert assistance to homeowners against unfair property taxation and you would like to be a part of the Homeowner Advocacy Group, complete the form below.

 

 

Posted in Property Tax
March 21, 2018

Property Condition Checklist

If you need to get your home in "market-ready" condition or you need to find everything wrong with your house to serve as evidence in a property tax protest, this checklist will be your best friend. 

 

 Scroll down or click here: Property Condition Checklist

March 21, 2018

Petition for Property Tax Reform

Our property tax system is broken. Taxes have gone up so high that some people can no longer afford their homes.

Current reform proposals don't adequately protect the rights of homeowners.

I am working with a state representative and powerful lobby group to amend Governer Abbot's proposal to include provisions that would reform our property tax code to protect homeowners.

Legislation won't gain the necessary support unless they know that this is something that the public demands. Sign this petition to join in supporting reform to protect the rights of homeowners.

 

 

Posted in Property Tax
March 15, 2018

Will I Pay Tax When I Sell My Home - Capital Gains Explained

The IRS changed the rules in 1997 that stated you had to sell your residence and buy another house within 2 years. This rule no longer applies. Now the IRS doesn’t care what you do with your money when you sell.

Under the newest changes, you must have lived in your previous home for at least 2 out of the last 5 years. If, however, you rented your house out during your ownership, the situation gets more complicated and you should consult a tax expert.

A single person may qualify to exclude up to $250,000 of that gain from your income, or up to $500,000 of that gain if you file a joint return with your spouse. Certain exceptions exist for uniformed personnel, owners that lived in a nursing home, experienced divorce, or death.

There are a few misconceptions and avenues you can tad advantage of that I'd like to clear up.

Q: What if it wasn't my primary residence... Can I still avoid capital gains?

A: Yes

You can avoid having to immediately pay capital gains tax selling an investment property through doing a 1031 exchange. To qualify you must purchase another investment property of equal or greater value than your current property. Use the gains from the previous property sale to purchase the new property. Also, the new property must be considered "like-kind", which basically just means it's used for a similar type of investment. For example, if you're selling a house, you must buy another house. If you're selling a retail commercial building, you must buy another retail commercial building. There are some timing factors and logistical measures you need to be aware of that aren't very complicated but you will find helpful to get some guidance on. For help or questions, just contact our office. We would be glad to walk you through a purchase involving a 1031 exchange.

Q: Can I claim a capital loss if I lose money on the sale of my home?

A: Unfortunately, no

You must report and pay tax on unexempt capital gains from the sale of your personal residence, but you can never claim a capital loss on the sale of a personal residence. For some reason, the government allows deductions on certain capital losses on investment property, but not on personal use property. The good news is that you're on the right website to help avoid losses. Our track record shows that we sell houses for considerably more than the average agent, and have many times set a new record price for highest sale in a subdivision.  

Q: Are moving expenses always deductible?

A: Yes sometimes, but not always

You can only deduct moving expenses that are work-related under certain strict conditions. If you are moving for purely personal reasons, they are never deductible. If your company is relocating you, then you should take a closer look to see if your moving expenses are deductible. A few things to consider - it really helps if your job move and house move are within 1 year of each other, and you're moving at least 50 miles away. If you are self-employed or have any kind of part-time or limited employment, the rules get a little sticky. You should consult a tax advisor to get more details under these circumstances.

Have more tax questions? Just give us a call or contact us any time. We would love the opportunity to serve you. 

March 13, 2018

Chandler Gives Update On Property Tax Protest

In case you don't already know, last year we helped over 3200 people protest their property tax value for free. This year our goal is to help 6000. I just wanted to give you an update on where we're at on that...

We're working hard to get things ready so that when we help with your property tax protest, everything runs smoothly without any trouble. The appraisal district needed to get further approval fro some technology we're using to help make the process streamlined for you. It shouldn't be too much longer, but we have until May 15th to turn everything in, so we're still in great shape.

Chandler and the team recorded a video just to provide an update (see below).

 

Also, Chandler will be speaking to several home owner's associations, community groups, possibly a chamber of commerce or two, and other types of groups to teach homeowners how to protest and provide some tips etc. If you know of any groups that might appreciate hearing from us on that, please let me know asap. Our calendar for speaking engagements is filling up pretty quick.

In the meantime, if you have any other real estate related questions, please don't hesitate to reach out. We're here to help any way we can.

Have a great day!

  

 

Feb. 12, 2018

Why real estate prices crashed in January. 1 BIG Tax Protest Change. Amazon & Pillow Talk

I put together a short video with our team that covers some current issues. 

Don't have 10 minutes? Jump to the section that interests you most or scroll below the video to see abbreviated notes.

 

 

Real estate prices are down, which was expected. December was a record month and we expect to see significant price gains in February. Pricing is a result of the relationship between supply and demand so in the video I show you exactly where demand and supply levels are at and discuss what this means for you. 

Amazon recently announced that they are moving their headquarters. Dallas Fort Worth is one of 20 areas under consideration. This would bring 50,000 new jobs over a 10 year period of time. Watch the video to learn which key factors play a role in their decision process. 

Recent changes in the Texas Real Estate Commission (TREC) contract could cost you thousands if you don't know about them and take action now, well ahead of your plans to sell your home. Now all repairs must be completed by a licensed professional. This means after you get under contract, you can't fix anything in the house without calling a licensed professional. What may have cost you just $5 to do on your own will now cost as much as $75 when considering that most professionals will charge you a trip fee just to show up. 

The main tax protest deadline this year is going to be May 15 instead of May 31. There is no need to act on this information now. They plan to send value notices out around April 1st. As soon as they do, we'll be on top of it to help. We are making preparations to help a record number of people. If you know someone that would reliably show up on time, do great work, treat it like a high paying job, but would be interested in volunteering to help, please send them my way. 

Dec. 28, 2017

My Pillow, New Year's & Last 2017 Market Update

This video is different than any other we have ever released.

I have been reflecting on 2017 and thinking about what 2018 will bring. I had a little fun with it and just thought I would share my thoughts. 

You'll hear what I got for Christmas, how to make a successful New Year's resolution, a thank you message for 2017, and your real estate market report for Tarrant County Texas as well as a hint on what the real estate market is expected to do in 2018. Enjoy!

Video Content Time Stamps: https://youtu.be/2pNJkksLJtU

0:16 What I got for Christmas - "My Pillow" and the answer revealed... Is it the most comfortable pillow I've ever owned.

1:43 My 1 tip on how to make a successful New Year's resolution

2:19 Walking on water and Aux'ing

Link to song by Thirty Seconds to Mars https://youtu.be/44NYFvhXmW8

5:14 What happened in 2017 - I must say Thank You!

7:00 Real estate market update - The Bottom Line

7:35 2018 Real estate market forecast

 https://youtu.be/2pNJkksLJtU