On Sun, 15 Jan 2017 23:19:11 -0600, Leon lcb11211@swbelldotnet
wrote:

On 1/15/2017 10:50 PM, wrote:
On Sun, 15 Jan 2017 22:27:42 -0600, Leon lcb11211@swbelldotnet
wrote:

snipped to make some pussies happy, here.

Housing costs? Some of the new'ish homes that people could barely
afford to begin with need new roofs, fences and values are probably up
25% from pre crash days. We have a unique situation here.

25%? That's nothing. My house is up almost 100%, if the estimates
(and tax assessments) are to be believed. And, yes, my taxes have
doubled in that five years. That increase in __T_ is small compared
to PI_I.



Well 25% is nothing but you said you were paying .5% tax IIRC. So if
your home is valued at 200K now , it was 100k your tax went up a
thousand dollars?

Double those numbers but, yes.


We pay 3% and have had an increase of 25% to say only $250k., so 3% of
50K is 50% more, $1500 than your increase and that has been in the last
3 years.

What's the tax (T) increase as a percentage of PITI?

And these numbers are may be skewed.

But
Below is fact.


A home owner in our neighborhood that has a home valued at $250K pays
$7500 per year in property taxes. And many of those homes are $300k
plus. A 25 percent vlaue increase on a tax that is 3% is quite a chunk.

As a percentage of the Principle + Interest + Tax + Insurance costs?
It's only the tax part that's increasing.

OK, a 30-year mortgage on 250K, at 4%, is roughly $14K per year
(assuming no PMI). Add the tax ($7500), and insurance ($2K) and the
total is $23.5K. If the value of the home goes up 25%, the taxes
increase to $9375, or a little under $2K. This portion of owning the
house has gone up around 8.5%, surely less than a rental during the
same time (not only their taxes are going up but their value). If the
owner can't absorb this increase, over 3(?) years, they're in way over
their heads, even without tax increases. They'd probably be in worse
shape without the home.



And if you have any doubts google the complaints Fort Bend county
residents are screaming about concerning raising property values. It
has got the State representatives attention.

Texas can increase values up to 10% each year and they typically catch
up if they missed a year, they can go up 10% for each year that they did
not.