How to protest your taxes - Questions With Kristen

Protesting your taxes. Just the thought brings so much dread to homeowners, mostly because, we just DONT KNOW HOW! Well, not to worry, today, we’re going to break it down really simple for you. The last week you likely got your assessment in the mail. This is when the county sends you an estimate of what they think your home is worth. It is a tax appraisal, which is similar to, but different from a home value appraisal.

In a tax appraisal, they never enter your property, they just go off of a system that tells them about what your home should/could maybe be worth, however, they want that number to be as high as possible, because the higher that number the higher amount of taxes you pay, makes sense right? So all that to say…. if you are thinking, “this number seems excessive”, then continue on.

Lets begin by talking to those who just purchased a home within the last year. Contesting YOUR taxes right now… IS SIMPLE. Most likely you purchased your home for LESS than what the county is appraising it at, meaning that you can simply take them a copy of your closing statement ( a HUD), and they will lower your taxes to that number. EASY PEASY. you just have to fill out that protest form they sent along with the assessment, and attach the closing disclosure to it. They will make you come in and meet with someone, but it is much more simple than you may would realize, and with COVID restrictions, they did not even require this last part, so even simpler!

Now, if you purchased your home MORE than a year ago, it is a little bit more difficult but that is why you have us to help! ;) If you purchased your home more than a year ago, you also will need to fill out the form they give you to dispute it, but you will also need evidence to back up what you think your home is actually worth and why, which is where we come in. You need to ask your agent to run some “comps” or find some great comparable homes to yours within about a 1/4th mile radius that have closed in the last 6 months to help you find a reasonable value for your property.

It may seem like a lot… we get that, but it really isn’t! Let us help you do the hard work! Reach out and ask us for some comps, or ask us for your closing disclosure if you cannot find it! The county can only raise your taxes about 10% each year, and they will certainly try to! You aren’t guaranteed for that number to be reduced, but you miss 100% of the shots you don’t take! This year in 2022, they are giving you until May 15th to protest, so you have plenty of time to tackle this! We did make (a few) videos for your guys on this, you can go to our YouTube Link below, or you can also head over to our Wright Realty & Design Instagram page and we have highlighted those stories for you as well!

https://lubbockcad.org/Protest-Information

https://youtu.be/J8P1s73m5YQ

Let's Talk New Construction in West Texas!

New Construction in West Texas

New construction in West Texas is BOOMING right now. We have more single family resident permit pulls than any other city in West Texas currently, and with good reason! We have had such a HUGE influx of out of state buyers transition to our area, and with the market where it is, there simply is not enough inventory of homes to purchase to keep up with all the families coming. New construction has become a great option for many buyers, and Lubbock has so many builders right now, it can frankly be too much to process. So lets break it down.

The first thing to know is a little bit of terminology. What exactly is the difference in a SPEC home and a custom build? If I find a home that isn’t complete yet can I customize it? What areas are growing the most right now? Where should I build? Who is a good reputable builder?

These are all GREAT questions, and ones we get almost daily. First of all, lets talk growing areas. In 2021 Frenship ISD was growing the most, or at least had the most single family residence permits pulled for new construction, followed by Cooper, and then LISD. However, before 2021 Cooper had the most.

A SPEC home is a home built by a builder, and is not being customized for a particular buyer. It gives other buyers or clients looking to build an opportunity to see the builders style & work while deciding which builders to use. In the past it was not uncommon for builders to allow a buyer to come in a customize what wasn’t finished or to make some changes, however with our current economy, it just is not an option. Many materials are back ordered and to order new or different materials could put a 2-3 month halt on construction and most builders are unwilling to make those changes right now. However, if you build a custom home, you can choose EVERYTHING (more than you want, I promise ;)).

Building a home can be a long process but one many find so enjoyable and worth the wait. Should this be a direction you and your family would like to go we would be more than happy to introduce you to some of our favorite builders. Please feel free to reach out to our office any time with any questions you may have, we know this whole process and finding your own spot in Lubbock can be overwhelming!

https://youtu.be/8AkzkhC_SkU

Buyers- STOP, Collaborate & LISTEN!

Working with buyers is 100% the best thing about working in real estate. I love getting to help my clients find their favorite area, help them get their kids into the school districts they feel would be best, imagining where the Christmas tree will go, and so much more. However the number one thing I see when working with buyers is when they put the cart before the horse. I WANT to take you out to see homes, I want to dream with you and fight for you in the negotiation process, but before we get there, there is a few things we have to do FIRST.

If you’re looking to buy a house, STOP and listen please! Contacting a lender has to be your first call. I’m very serious. Working with a lender will answer so many questions most first time homebuyers have like “what’s my budget? How much is that per month? Can I even qualify for a home loan? what kind of loan is best for my family?” When we know how to answer these questions, we can RUN. Our market is so busy right now that if you don’t have your ducks in a row, you will miss out on the home you love the most, in short, it sets you up for disappointment. We keep a local lender list in our office that we would be happy to email over to you, reach out if you want it! Our only recommendation when it comes to lenders is to keep it local! They work so much harder for you and typically have better rates and fees!

Next thing you need to do before you start looking, is SAVE UP. There are loans such as a VA loan that do not require a down payment, but in the market we’re in, you will need closing costs. Getting your closing costs covered by the seller is likely not going to happen right now. There are so many offers on homes and so many people with cash we are seeing appraisals waived time and time again by folks who have enough cash to pay the overages. You need at LEAST the basics covered to make a deal with a seller these days. Save save save my friends, it gives you a great upper hand!

Also, know your budget. Know what you WANT to afford! You may qualify for a $300K loan, however if that monthly payment makes you house poor, then lets make an adjustment. Having a beautiful home is great, but if that beautiful home is all you ever get to see because you no longer have a budget for a date night, a vacation or allowing your kids to do sports, then you’ve spent too much. This is what we call “house poor”, and our goal is for this home to help you reach your goals, not prevent you from even attempting them.

Lastly, and frankly this is just a personal opinion, so take it for what it is, stop comparing! Stop looking at what kind of house your friend bought, or what school district they are in etc, and focus on YOU. what is best for YOUR family. What house allows you to entertain, keep an excellent budget, still travel, still invest in things that brings joy to your soul etc. Your story is not anyone else’s story, your home will have your own touch and your own joys. Stay in your lane, we’re here to help! If you click the photo on this blog it will take you to our YouTube channel where I break this down a little bit, and our contact info is below, please reach out to our office if you need our local lender list, or if you just want to discuss any of this further!

Kristen Wright

Wright Realty & Design

806.318.9660

Neighborhood Minute- Verrado Estates

Verrado Estates

Welcome to Verrado Estates! Our hope with these blog posts is to give you a short synopses of a local Lubbock or Plainview neighborhood. Today we’re in West Lubbock visiting Verrado Estates! Verrado Estates reinvents country living by adding the finest features of city living. Verrado is located at the Northeast corner of 50th st and 179 and is being developed by EPIC properties.

There so much to love about this area, but many residents typically prefer it for it’s larger lot sizes. Most homes in this area sit on about an acre of land and enjoy the many HOA amenities like the local pool, underground WIFI, well water, and the pool house.

Verrado is in the Frenship Independent School District and feeds into Willow Bend Elementary School, Frenship Middle School, and Frenship High School. This area began development around 2010, and still has some construction happening now. Home values in this area begins around $500,000 and go all the way up well over a million at the time of our research however market values can change rapidly, so please visit our meet the team tab on our website to speak to one of our agents for one of the most up to date analysis, or visit our YouTube video on this neighborhood linked below!

Neighborhood Minute- Burgamy Park

Burgamy Park Lubbock

Welcome to Burgamy Park! Our hope with these blog posts is to give you a short synopses of a local Lubbock or Plainview neighborhood. Burgamy Park is a BRAND NEW development in West Lubbock, right next to Terra Vista Middle School off of 19th st and upland ave.

Burgamy Park is a part of the Frenship Independent School District and feeds into North Ridge Elementary, Terra Vista Middle School and Frenship High School

This area has plans for many streets all around Terra Vista Middle school with many builders, primarily Tim Roten Homes. Home values in this area begin around the low $200,000’s and go all the way up to around the mid $300,000’s at the time of our research however market values can change rapidly, so please visit our meet the team tab on our website to speak to one of our agents for one of the most up to date analysis, or visit our YouTube video on this neighborhood linked below!

https://youtu.be/VAhYZZ8noVU

Neighborhood Minute- Llano Estates

Welcome to Llano Estates! Our hope with these blog posts is to give you a short synopses of a local Lubbock or Plainview neighborhood in the form of what we call “Neighborhood Minutes”. One of our greatest hopes as real estate experts in West Texas is not only to educate our local residents and clients trying to find their perfect spot, but also those looking to relocate to our area! West Texas has been drawing in out of state residents at record numbers, and we want to be your ultimate guides to all things Lubbock and West Texas!

Today We’re in WAY west Lubbock just outside of Wolfforth visiting Llano Estates. This neighborhood is located just east of 50th & 179 in the Frenship Independent school district, featuring Bennett Elementary, Frenship Middle School, and Frenship High School.

This area is sought out mostly for it’s larger lots. Most homes in this area are on ½ acre but have lots as large as 3, giving you some space between your neighbors. This area does have a small HOA, and has wonderful tennis courts for your family to enjoy.

Homes in this area start around the $400K mark and go all the way up to around $800K at the time of our research however market values can change rapidly, so please visit our “Meet The Team” tab on our website to speak to one of our agents for one of the most up to date analysis, or visit our YouTube video on this neighborhood linked below!

https://youtu.be/c9qub3r_EDc

Neighborhood Minute- North Pointe

Welcome to North Pointe! Our hope with these blog posts is to give you a short synopses of a local Lubbock or Plainview neighborhood, and today we’re going to north Lubbock in a smaller newer development, North Pointe. North Pointe is located just past the intersection of Erskine Ave and Slide Rd, and is a part of the Lubbock Independent School District, featuring Centennial Elementary, Mackenzie Middle School, and Coronado High School.

Construction on this area began in the early 2000’s, but still has a few lots under construction today. Home values begin around $175,000, and go all the way up to the low $300,000’s at the time of our research. however market values can change rapidly, so please visit our meet the team tab on our website to speak to one of our agents for one of the most up to date analysis, or visit our YouTube video on this neighborhood linked below!

Questions With Kristen- It's a sellers market! Wait, what is that?

You’ve likely heard it at least a million times during this pandemic, “it’s a sellers market!”, but what does it actually mean? Well, it means a few things! Simply put sellers have the advantage because there are more buyers looking for homes, than there are sellers selling right now.

In this type of market you will see many houses getting multiple offers, cash offers, crazy over asking price offers, and buyers willing to give up many things just to secure the home for themselves. Historically we have considered the market to be in the sellers favor when there are 6 months or less of inventory available, but for much of 2020 and 2021 here in West Texas we have been seeing inventory as low to 1-2 months. Meaning, that if all the homes currently on the market today all sold and nothing else came on the market, we would run out of homes in one to two months.

What causes this? The main driving factor here are historically low interest rates. In 2020 the FED did everything they could to lower these rates to help stimulate the economy during a very trying time in our nations history, so we have seen absolute historically low interest rates, between 2-3%. This year we will begin to see those numbers come up, they already have where now they are around 3-3.5%, but another driving force in making this market a sellers market is a large influx of buyers we are seeing. We have many moving from other states right now, primarily California and New Mexico, and many of these folks have cash, and are coming from markets that are so inflated our home prices seem low.

What does this mean for you? It’s a great time to sell. If you have considered selling your home you’re likely going to get top dollar, potentially multiple offers on your home, and you can choose a situation that works best for your family. How about if you’re a buyer? Well, it means you should be patient. You may have to put in MANY offer before winning, you’ll have to be quick and trust your realtor to keep a close eye on everything coming on the market. It may be tougher to be wise as a buyer right now, but stick to your guns! The reality is if you’re a first time home buyer, this likely won’t be your forever home, don’t deplete everything you have just to win right now. Take your time and trust the process. For more information on this subject head over to our “Meet the Team” tab and contact one of our agents, or you can visit our YouTube Channel “Lubbock is Home” linked below to see a short video.

Neighborhood Minute- Papalote South

Welcome to Papalote South! Our hope with these blog posts is to give you a short synopses of a local Lubbock or Plainview neighborhood. Today we’re going to take a peek at Papalote South, located in south Lubbock just east of Upland ave, and North of 82nd st. This quiet family friendly area has the best of both worlds! It’s residents love its convenience to south Lubbock shopping and restaurants all while still having a more quiet country feel to it.

Most of these homes were built in the early 2000’s, and feature larger lots between 1/2 acre to 1 acre lots making it easier for residents to have pools, barns, workshops, and even just a little space between them and their neighbors.

Papalote South is a part of the Frenship Independent School District and features Oakridge Elementary, Heritage Middle School, and Frenship High School. Home values begin around $450,000 and go all the way up to around the mid $800,000’s a the time of our research however market values can change rapidly, so please visit our meet the team tab on our website to speak to one of our agents for one of the most up to date analysis, or visit our YouTube video on this neighborhood linked below!

Neighborhood Minute- The Meadows

Welcome to The Meadows! Our hope with these blog posts is to give you a short synopses of a local Lubbock or Plainview neighborhood. Today we’re joining our team as we check out this well established Lubbock neighborhood located in South Lubbock just south of 82nd st, sandwiched between Slide Rd, and Frankford Ave.

This area is in the Lubbock Independent School district and has Preston Smith Elementary right in the middle, which feeds into Irons Middle School, and Coronado High School, home of the Mustangs (where Jarett Culver went!).

Many residents love being just up from Phil Hoel Park with the large fishing pond, two playgrounds for the kids to play, tennis courts, and mature trees. This area was primarily developed in the 80’s & 90’s, and home values begin around the upper $100,000’s and go all the way up to the low $400,000’s at the time of our research however market values can change rapidly, so please visit our meet the team tab on our website to speak to one of our agents for one of the most up to date analysis, or visit our YouTube video on this neighborhood linked below!

Neighborhood Minute- Kelsey Park

Welcome to Kelsey Park! Our hope with these blog posts is to give you a short synopses of a local Lubbock or Plainview neighborhood. This incredible new area of Lubbock has been absolutely adored and sought after by many residents who love new construction! This area is located just south of 130th st, and just West of Indiana Ave.

This area is home to the Cooper Pirates and is being built around brand new Cooper Central Elementary School, which feeds into Laura Bush Middle School, and Cooper High School. This area has a small homeowners association, and walking trails.

There are a myriad of different home types in this area including duplexes, single family residences, and a few 1/2 acre lots. Home values in this area begin around $250,000 and go up from there at the time of our research, however market values can change rapidly, so please visit our meet the team tab on our website to speak to one of our agents for one of the most up to date analysis, or visit our YouTube video on this neighborhood linked below!

https://youtu.be/GAiklh8DbWs

https://www.kelseypark.com/

Neighborhood Minute- Farrar Estates

Welcome to Farrar Estates! Our hope with these blog posts is to give you a short synopses of a local Lubbock or Plainview neighborhood. Today we’re going to take a look around Farrar. This area is in south Lubbock between Slide Ave, and Frankford Ave, right outside of loop 289, and was built around Irons Middle School and Whiteside Elementary, which both feed into Coronado Mustangs, a part of the Lubbock Independent School District, Home of the Mustangs!

This area was built mostly in the 70’s & 80’s. This established area is beloved for its close proximity to the local schools, but also the nearby park with a playground, walking trails, and duck pond.

This area appeals to a wide array of buyers with home values that begin around $200,000, and ago all the way up to the mid $300,000’s at the time of our research however market values can change rapidly, so please visit our meet the team tab on our website to speak to one of our agents for one of the most up to date analysis, or visit our YouTube video on this neighborhood linked below!

Neighborhood Minute- Melonie Park

Welcome to Melonie Park! Our hope with these blog posts is to give you a short synopses of a local Lubbock or Plainview neighborhood. Today we’re visiting Melonie Park! Melonie Park is likely the most well known and established neighborhood in all of Lubbock! Melonie Park is located just inside the loop between Indiana Ave and Quaker Ave.

This area was primarily developed in the late 60’s to early 70’s, but is so well adored that many of those homes have been recently updated. This area used to feature two elementary schools, however in the last ten years they did away with the two older schools and built one of the most sought after elementary school in LISD, Miller Elementary, which feeds into Evans Middle School, and Monterey High School.

What most residents love most about this area is the mature landscaping, tree lined streets, and the beautiful park its built around which has walking trails, playground equipment, volleyball courts, tennis courts, and basketball courts! Home values begin around the low $200,000’s and go all the way up to the low $400,000’s at the time of our research however market values can change rapidly, so please visit our meet the team tab on our website to speak to one of our agents for one of the most up to date analysis, or visit our YouTube video on this neighborhood linked below!

Neighborhood Minute- Whisperwood

Welcome to Whisperwood! Our hope with these blog posts is to give you a short synopses of a local Lubbock or Plainview neighborhood. This well-established neighborhood is located in Northwest Lubbock just inside the Loop, and features a wide array of properties- townhomes, garden homes, duplexes as well as single family homes.

Many love this area for its convenient location to Texas Tech and the Medical District, and for the HOA that is offered, including a neighborhood pool and tennis courts, all for less than $250/year. Whisperwood is located in the Lubbock independent school district and features highly sought after Rush Elementary, McKenzie Middle School, and Coronado High School.

Home values in this area have a wide range beginning around the high $100’s for some of its smaller homes, and goes all the way up to the high $400,000's at the time of our research however market values can change rapidly, so please visit our meet the team tab on our website to speak to one of our agents for one of the most up to date analysis, or visit our YouTube video on this neighborhood linked below!

Neighborhood Minute- Remington Park

Welcome to Remington Park! Our hope with these blog posts is to give you a short synopses of a local Lubbock or Plainview neighborhood. Today we’re taking a good look at Remington Park, located just outside the loop between Chicago Ave and Slide Rd.

Remington Park is a part of the Lubbock Independent School District and features Whiteside Elementary School, Irons Middle School, and Coronado High School. This area is built around beautiful Remington Park, and is just up the road from the local elementary and middle school.

Homes in this area were primarily built in the 80’s, and home values begin in the mid $200,000’s and go all the way up to the mid $300,000’s at the time of our research however market values can change rapidly, so please visit our meet the team tab on our website to speak to one of our agents for one of the most up to date analysis, or visit our YouTube video on this neighborhood linked below!

Neighborhood Minute- Primrose Pointe

Welcome to Primrose Pointe! Our hope with these blog posts is to give you a short synopses of a local Lubbock or Plainview neighborhood. Primrose Pointe is located in Lubbock west of Milwaukee Ave and 70th st.

Primrose Pointe was built and developed around Oakridge Elementary School, which is a part of the much sought after Frenship Independent School District and feeds into Heritage Middle School, and Frenship High School, and is really known for its custom homes, and was even featured in our local Parade of homes.

Home values begin around the high $200,000’s and go all the way up to the upper $300,000’s at the time of our research however market values can change rapidly, so please visit our meet the team tab on our website to speak to one of our agents for one of the most up to date analysis, or visit our YouTube video on this neighborhood linked below!

Neighborhood Minute- Hatton Place

Welcome to Hatton Place! Our hope with these blog posts is to give you a short synopses of a local Lubbock or Plainview neighborhood. Hatton Place is one of Lubbock’s newest neighborhoods being developed in south Lubbock between Indiana Ave and Quaker Ave just south of 114th st.

Hatton Place is Located in the highly sought after Cooper Independent School District and located just up the street from Laura Bush Middle School, which feeds in to Cooper High School, and Lubbock Cooper Central Elementary.

This area is featuring amazing builders such as Clearview Custom Homes, Southern Homes by Dan Wilson, Apex Homes and many other high end custom home builders. Home values begin around upper $200,000’s and go all the way up to the middle $400,000’s at the time of our research however market values can change rapidly, so please visit our meet the team tab on our website to speak to one of our agents for one of the most up to date analysis, or visit our YouTube video on this neighborhood linked below!

https://hattonplacelubbock.com/

Neighborhood Minute - Abbey Glen

Welcome to Abbey Glen! Our hope with these blog posts is to give you a short synopses of a local Lubbock or Plainview neighborhood. Today we are in South Lubbock in one of its newest premier neighborhoods Abbey Glen!

Abbey Glen is located just north of 98th st and West of Slide Rd, in the heart of southwest Lubbock, meaning its just minutes from the loop and many of the new and up and coming businesses on slide rd. Abbey Glen is a master plan community that will conclude with a beautiful private park on the back end.

Abbey Glen is located in the highly desirable Cooper School District. Home Values will begin around the $300,000’s and go up from there at the time of our research however market values can change rapidly, so please visit our meet the team tab on our website to speak to one of our agents for one of the most up to date analysis, or visit our YouTube video on this neighborhood linked below!

https://www.abbeyglenlubbock.com/

Neighborhood Minute- Frenship Mesa

Welcome to Frenship Mesa! Our hope with these blog posts is to give you a short synopses of a local Lubbock or Plainview neighborhood. Today we are deep in the heart of Frenship Nation, Frenship Mesa! Frenship Mesa is known as “The neighborhood by Frenship High School!”, and that it is! It has a few quiet streets, and a small park with a playground and pergolas with park benches on the back end.

Development in this area began around early 2000, however recently has had several new builds in this area due in great part to DR Horton and its return to Lubbock. Frenship Mesa is located in the Frenship Independent School District and features Bennett Elementary, Frenship Middle School, and Frenship High School.

Home values begin around the mid $200,000’s and go all the way up to the upper $300,000’s at the time of our research however market values can change rapidly, so please visit our meet the team tab on our website to speak to one of our agents for one of the most up to date analysis, or visit our YouTube video on this neighborhood linked below!