Part II – Building Wealth with Real Estate Part II: Rental Property
This article was also published with permission from Lisa Priest in the Saturday, November 22, 2014 edition of the Palestine Herald Press.
A “buy and hold” investment strategy is just like it sounds—buy it and hold it (typically as income-producing rental property). Rental property is a great way to create monthly income and will also yield a payoff should you ever decide to sell. The market in Palestine right now is ripe with investment opportunities for anyone wishing to get into the “rental game.”
Questions on property taxes and property tax exemptions are some that I get asked by clients regularly. How much will my taxes be? What discounts am I eligible for? Why should I file for an exemption? All are excellent questions and well worth asking!
Generally speaking, property taxes are determined and collected on the local level. In Palestine, property taxes are managed by the Anderson County Appraisal District (ACAD). I won’t get into how property taxes are determined for the purposes of this post, but just know that ACAD is the one that determine your property’s appraisal value (another important note: YOUR PROPERTY TAX APPRAISAL IS NOT FAIR MARKET VALUE!!—but that’s another convo for another day…haha!)
An easy way to understand property tax exemptions is to think of them as “property tax discounts.” Continue reading →
This weekend I made the trek to San Antonio to the 2014 Texas REALTORS® Conference. It was a blast. There were some great education sessions, networking opportunities and the expo was a chance to meet with vendors that may be of help to my clients. It is such a privileged to be able to attend an event with so much information packed into one weekend. Continue reading →
how much is my home worth palestine, texas real estate
What do you think is the #1 thing that is prohibiting your home from selling? The answer may or may not surprise you….more than likely, it is the price of your home. There is no marketing budget on earth that can effectively market an overpriced home. Could it sell at an over market price? Yes, it *could* happen (sure, stranger things have definitely happened…). Is it likely? NO. Continue reading →
Water is an increasingly valuable commodity in Texas and is gaining prominence in real estate transactions. The ownership and use of water depends on location. Most surface water is owned by the state, while most underground water is privately owned and can be conveyed or reserved.
I love the smell of history in the morning. Don’t you? 😉
DID YOU KNOW? The number of historic structures in the Palestine’s City National Register Historic Districts is on of the largest concentrations of historic structures in the State of Texas!
Palestine, Texas was established in 1846 and features over 1800 historic sites, including homes, businesses, churches, monuments, cemeteries and museums. We are very lucky to be surrounded by a rich historical heritage in Palestine! I get asked often by folks about historic districts and whether or not their home is in a historic district. However, even if your home is not within one of the registered districts, you can still apply your property to be a Palestine Designated Historic Landmark. (To qualify, property must be 50+ years old and “have a historical value due to association with important events, people, trends, or are representative of historic architectural style and/or building methods.”
I don’t do this often, but I wanted to take this opportunity to highlight one of my listings. The sellers have recently taken out the carpet to expose the hardwood floors, and the results are just amazing! The changes have brought new life into this darling cottage to expose the historic character that this gem has to offer!
BEFORE: carpets were clean, but outdated at 1015 N. Fowler in Palestine. AKA “I’m too sexy for this carpet!” hehe
AFTER: HELLO GORGEOUS HARDWOODS, WHERE HAVE YOU BEEN ALL MY LIFE?! 😉