Sunday, May 30, 2010

Bexar County Property Appraisals Have Dropped for Many Homeowners

According to Jennifer Hiller with the Express News, "After years of steady price increases, in 2009, Bexar County property values dipped 2 percent. Prior to that, residential appraisals hadn't decreased in Bexar County since the savings and loan crisis of the early '90s."

The higher dollar neighborhoods like The Dominion, Alamo Heights and Terrell Hills have remained steady while the lesser expensive, more tract-home neighborhoods in other areas of town have sustained larger number of foreclosures which have brought those neighborhood appraisals down.  The average San Antonio home value in 2009 stood at $146,702, while in 2010 it is at $145,682.  

Not all homes are going down. Some have seen increases in their valuations, and have received notices from the Bexar Appraisal District. Only those properties with an increase of $1,000 or more will receive a letter in the mail with the information on how to file a protest. Meanwhile, property owners can check the appraised value online at to see if the values have changed. All owners can protest, even if the values have decreased and the owner hopes to lower the value further.

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