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    Behind the Shine 6/15/24

    Did you know you can protest your property tax assessment? To clarify, this means challenging the assessed value of your property, not the taxes themselves. In today’s economic climate, finding ways to save money is crucial, and this can be an effective strategy to reduce your property tax burden.

    Each year, counties and cities send out statements detailing the appraised value of your property. Have you ever received one that didn’t seem quite right? The good news is that the process to contest these assessments is relatively straightforward. Some counties even include a protest form with the appraisal notice to simplify the process, although this is not always the case. If a form is not provided, you can visit your local city or county government website and search for property tax protest instructions.

    Protesting your property tax assessment can be especially beneficial if you own property in an area that saw significant value increases in recent years, only for the market to subsequently decline. Some jurisdictions may have overestimated these values, not reflecting the current market reality. By following the provided instructions, finding comparable properties with lower taxes, or presenting evidence that your property is overvalued, you can make a strong case for reassessment.

    The city or county will schedule a hearing, which is typically brief and informal, giving you the chance to present your case. Additionally, there are law firms that specialize in this type of work if you prefer professional assistance.

    Initial jobless claims surged by 13,000 to 242,000 for the week ending June 8, the highest level since last August, contrary to economists’ expectations of a drop to 225,000. The four-week moving average also rose to 227,000, the highest since last September, and ongoing claims increased by 30,000 to 1.82 million. The U.S. unemployment rate edged up to 4% in May, the highest since 2022. Federal Reserve Chair Jerome Powell and Treasury Secretary Janet Yellen noted that the labor market is no longer overheated and is now resembling pre-pandemic conditions. Economists are closely monitoring this trend to determine if it indicates a rise in layoffs, though some believe it may be a temporary fluctuation.

    Have you been struggling with finding deals, managing your finances, budgeting, or just real estate in general? Well, the truth is you’re not alone. If you feel like you’re the only one in that situation, fear not! Many of us are struggling. 2024 is not the same as the last few years, not by a long shot. Deals are harder to come by, budgeting has been more difficult due to inflation being astronomically high, and great investing opportunities have been harder to come by. I promise, it is not just you. These are topics are things we discuss every week in Spartan League. In order to be successful in this market you need to be constantly pivoting and be open to changing your strategy. What worked before does not work now. If you want to learn more about ways you can mold your strategies to what will work for you join my FREE webinar on June 27th at 7:00PM EST. You can also email mastermind@davidgreene24.com to get connected.

    Mortgage rates dipped slightly this week to 6.95% for a 30-year fixed home loan, indicating a cooling economy, though housing affordability remains a challenge due to increased shelter inflation. Despite rates hovering around 7%, sellers are responding quickly to rate drops, resulting in an 8% increase in new listings for the week ending June 8. While the Federal Reserve did not cut interest rates and only modest cuts are expected, mortgage rates are unlikely to return to pre-pandemic levels soon. The total number of active homes for sale rose by 36% year-over-year, especially budget-friendly homes in the South, keeping home prices stable. However, homes are selling more slowly compared to last year due to high prices and mortgage rates.

    Spartan League isn’t just all serious about business about real estate. A big part of being successful in real estate and other areas of your life is also your overall mindset. If your mindset, relationships, mental health, fitness, etc. is not in line it’s going to make everything much more difficult. Every week we have a mindset call as well as guest speakers. Our guest speakers, not unlike Mikey Taylor here will share his experience in how he got to be where he is now. If you’re interested in learning more about Spartan League, email mastermind@davidgreene24.com.

    Every short term rental operators least favorite call, a guest shows up to a dirty house. One of our clients had an experience before using our services when guests arrived at their property at 8:30 PM, they found unmade beds, wet laundry, and a full dishwasher because the cleaner never showed up. Of course, the cleaner was unresponsive, and it was too late to find a replacement that night. They apologized, gave guests access to fresh sheets, and arranged for a cleaner to come at 10 AM the next morning. They refunded them for one night’s stay and secured backup cleaners for future incidents. This experience taught them that a proactive property manager could have prevented this inconvenience and saved hundreds of dollars. Effective property management is crucial for success as a short-term rental owner, as self-managing can lead to higher costs and more time spent. If you’re interested in my team taking a look at your short term rental to see how we can maximize profits and time contact info@coasttocoastgetaways.com.

    Conventional: 7.375%

    VA: 6.625%

    FHA: 6.125%

    DSCR: 7.750%

    If you’re in the market for a loan and need assistance, our team at The One Brokerage is here to help. ​Visit our website here​ to explore our loan options and find the right financing solution for your real estate goals and email us at intake@theonebrokerage.com to speak to one of our loan officers.

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