Everyone's looking for a prediction -
My prediction for 2008 - the assessor's office is going to be one very busy office.
Inquiring minds want to know - I myself have already fielded requests from homeowners wanting to know if their home has been assessed fairly and is it likely that they will be victorious should they bring a claim to get a break on their taxes? Realistically, the probability is not in their favor.
Property values in Naperville, in both DuPage County & Will County are still on the rise. Are they rising at the meteoric rates of earlier years? Absolutely not, we are returning to normalcy, but the fundamentals for solid appreciation are still in tact -A natural choice for homebuyers / transferees is to live in communities with a thriving economic center, a strong school system (whether or not you have children - for resale purposes), close proximity to schools affording higher education, jobs, commerce, and access to transportation systems. Naperville meets all of these needs and as such remains a very desirable community to live in while continuing to drive appreciation.
For the majority of homeowners, the loss in property value in Naperville is perceived (paper), not actual. Most homeowners are still realizing a profit, albeit not what they had hoped for. Real Estate remains to be a solid investment over the long term.
If you would like more information about how your taxes are assessed, please contact me directly.
Remember also - the National Housing Market is about as useful to you as a National Weather Report - check with a licensed REALTOR in your community for an accurate assessment of the market in your neck of the woods.
Live in your house because you love it, and have a Great '08!
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