Updated over 9 years ago on . Most recent reply
Deal Junkies, Is This a Good Deal or Not?
Analytical junkies,
I'm looking at buying a house in a working class part of Houston, Galena Park, at a significant discount to market value but I have a reservation about a disturbing trend in its tax appraisal values. For some reason, the tax appraisal value has been declining by 8% consistently over the last 5 years. But if you look at the comps, the market still looks hot. Days on Market is low and the rentals look strong. It seems like this would be a good rental property but why would the appraisal value keep dropping? What could be some reasons for this? Do you think the trend would continue?
Jason