Tax Value Notices are for Commercial & Residential Properties... Also some San Angelo Housing Data Inbox

SAN ANGELO NEWS

I heard a sad story yesterday of a commercial property owner who is selling their property because of the high property taxes. Last year the appraised value jumped from the mid 200's to the mid 900's and they did not protest that new value. This last week the new notice dropped to the 500's. All of this happened without any protest. At this point, the fluctuation in taxes may or may not allow them to keep their property. 

I am sure similar stories have happened all over the county and this is why I hope everyone who owns residential, commercial, or even land property takes the time to check out their new value online. I also would like them to tell their friends, family, and co-workers to do the same. If the value is correct, this will only take a few minutes of your time but could save hundreds to thousands of dollars if there are valuation errors. I have also included a quick video showing you exactly how to check and protest your 2024 tax Value.

Tom Green County Appraisal District
www.tomgreencad.com

https://www.youtube.com/watch?v=yKpqFfZtciE

MARKET REPORT

Residential sales in San Angelo continue to rock along half way through May. We have over 400 homes for sale, almost 200 waiting to close and average closed prices are staying right at 260k. Over the past two weeks we have had mortgage rates decrease and that seems to have buyers out looking! There is good activity across all price ranges although the sweet spot continues to be 200-300k. 

Local homebuilders are continuing to drop affordable housing this month as well. The Southland Village subdivision recently listed 6 new homes in the Lamar school district. Another builder is pulling permits this week for 5-10 new homes in the Enclave @ Twin Oaks subdivision off Southwest Blvd. The Meridian off Southwest has more new homes goin in right now as well. The LakeView area of town has TWO new subdivisions going in off of Armstong.

Look at San Angelo New Construction here! 

San Angelo has 404 active homes for sale as of 5/15/24. Here is a breakdown of price ranges as well as a link to check them out.

Under 100k 
100 - 200k 
200 - 300k 
300 - 400k 
400k+ 

INTEREST RATES

Rates have been dropping all week and that looks to continue this morning. The CPI inflation data will be out at 8 am but while I type this it seems as if it could be good news. Not great news, but at least not bad news. Our fed chair made indications yesterday that they have no plans to raise rates and we should be holding in place. Last week, a lender I work with predicted that 5/13 would be a great time to lock in a mortgage rate. That was true but it could be better by the end of this week. As always, no one really knows but all indications show a solid end to the month.  

Feel free to share this newsletter with anyone who may be interested! 

- Janet Ridgway, REALTOR® 325-212-9451

-Samantha Tarr, REALTOR® 325-340-7252

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Thank you for your time today
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