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Property taxes have been rising. Here’s what it means for housing

Housing Wire

In many communities, homeowners and homebuyers have been hit with eye-popping property tax increases. And homes in many communities have shot up in value in recent years, leading to tax increases through reassessments. The market has since cooled off, but taxes are going up.

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U.S. property taxes increased twice as fast in 2023 compared to prior year

Housing Wire

property taxes on single-family homes rose twice as fast in 2023 as they did in 2022, with a total of $363.3 This is according to an analysis conducted by Attom , based on property tax data collected from county tax assessor offices nationwide at the state, metro and county levels. billion one year earlier.

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Need a Property Tax Appeal?

D Fritz Appraisals

What to do When Your Property Tax Assessment Seems Too High. In early January each year, every home in British Columbia receives its property tax assessment notice through the mail from BC Assessment. Some property owners may be surprised and possibly even concerned with their home property assessment amount.

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Foreclosures are rising, but it’s not yet alarming

Housing Wire

The real estate market is experiencing a slight rise in foreclosure activity following an extended period of moratoria that paused any foreclosures during the pandemic. In addition, the increase in foreclosure activity remains concentrated in certain markets. With home values across the U.S. trillion American Rescue Plan.

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ATTOM: Home Prices Rising Faster Than Wages, Making Homeownership a ‘Pipe Dream’ for Many

Appraisal Buzz

With mortgage rates tracking downward in recent months after rising last year, the portion of average local wages consumed by major expenses on median-priced, single-family homes and condos has decreased from the fourth quarter to the first quarter in 91.5% Home Affordability Report. percent of those markets.

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Build-for-rent is a bet on the ‘new normal’ housing market

Housing Wire

One slice of the single-family home market that has gained traction over the past year in a topsy-turvy housing landscape is the build-for-rent sector — or BFR. Both pose threats to access to capital, the cost of materials and labor, and future housing values.

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Opinion: How did homeowners get into home equity prison?

Housing Wire

Then, the housing market takes off like a rocket with home values exceeding all expectations. The home equity prison Does this scenario sound familiar compared to the situations of the homeowners that you are encountering lately in your real estate business? respectively.

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