November 3rd is a day that Bryan and College Station homeowners, or people who ever hope to own a home need to mark on their calendars. The propositions we're concerned about affect the entire state of Texas, so even if you are moving to a different area within the state or located elsewhere in the state, please make plans to vote! Early voiting began October 19th and ends October 30th.
Voting yes to these four propositions will affect homeowners in the state of Texas by amending the constitution to protect homeowner rights.
Proposition 2 ensures that a residential property is appraised as a home, not a value based on "highest and best use". Imagine that the field next door to your home had the zoning change and suddenly was a commercial property. If this amendment isn't passed it is possible for the appraisal district to come along and say that your property also could be a commercial property and tax it based on that usage. Some homeowners would find themselves in true financial binds as many counties search for more revenues. Keep in mind that already properties that are used as farms or timberland already are exempt from the arbitrary "highest and best use" appraisal. Our homeowners need the same protection.
Proposition 3 allows the state to have oversight of central appraisal districts ensuring that there are uniform standards for appraisals. No longer would appraisal districts be able to set their own standards, artificially lowering their appraisals in certain parts of the state to take advantage of state monies while other homeowners pay the lions share.
Proposition 5 allows two or more adjoining appraisal district to have a combined appraisal review board. Basically it is difficult to get qualified and knowledgable people to serve on the appraisal review boards in rural areas. To speed up the appraisal review process, should you need to protest your taxes, this would allow board members to cross the county lines to ensure that qualified, knowledable board members are available.
Proposition 11 affects eminant domain. This will set standards for what purposes a county can take a property for eminant domain. In the news fairly recently we've heard of situations where peoples homes were taken away for economic development in the city, thereby enriching a developers pocketbook at the expense of the homeowners. This proposition would strictly prohibit that type of condemnation and only allow eminant domain in the cases where it will truly benefit all residences, such as roadways and other essential intrastructure.
Protect your own Bryan or College Station property and vote yes in the upcoming election. The highly controversial College Station red light camera issue will also be on the table.
See you at the polls!!!
College Station real estate, Bryan real estate, and the surrounding areas are facing definately some tougher times in the past. Before you let the doom and gloom go to your head though, realize this: 60% of foreclosures are coming from 5 states in the United States. The information about real estate that you're hearing primarily comes from information in one of these states; California, Arizona, Florida, Georgia and Michigan. (MSNBC news article).
Texas is actually one of the strong real estate states with values rising modestly in many areas.
No doubt that the increasing layoffs and economic downturn will have an effect, but most real estate analysts believe it will be short lived here and make a minimal impact. The complete College Station Bryan real estate overview published by the Texas A&M Real Estate Center will give you statistics such as employment rates, housing costs comparisons and other useful data. For a quick market analysis look at this report, B-CS Economomy Still Going Strong, published 10/14/08 that states, in part, that Bryan College Station had the second strongest job growth in the state through August and is gaining jobs as opposed to the rest of the nations typical losses.
Remember that real estate is local. Bryan real estate tells a different tale than College Station real estate and both tell an entirely different story than California real estate.
For more information talk to a College Station real estate agent, such as Coti or I and we'll tell you what's happening up to date.