Real Estate"

About Nyda

Nyda is a broker associate who is an energetic and strategic advocate for her buyers and sellers. She also advises clients on real estate investing, 1031 exchanges, rental property evaluations and, cash flow analysis. She sells Multifamily and consults on land development options, working with zoning, planning to ascertain best and highest use to maximize sellers return on investment.

Client Testimonial

"Nyda Faith represented me with the sale of my home recently. I relied on Nyda’s knowledge and expertise with a challenging transaction and she went above and beyond. She provided me with a market strategy of repairs needed and extensive staging that earned me far more than what I had dreamed of with multiple offers and title even being paid by the buyer. Wow!!! The staging was so terrific no one recognized my former home once Nyda & team had finished with the transformation."

proves your home is overvalued, and write a short, concise explanation of your concerns.

DCAD computer algorithms typically analyze comparables and determine individual property values, so there’s room for human analysis to fine-tune those values, Jordan says.

Maybe your home is on a busy street, while the algorithm has selected comparables that are on quieter, more valuable streets.

Maybe your home needs a lot of remodeling or updating, but the algorithm hasn’t taken that into account while selecting new or updated homes nearby.

“The best thing that I’ve had luck with is to take a picture of everything that’s wrong with your house, print out the pictures and show all of those problems to DCAD,” McGee says.

“Show them all the things that need to be repaired — cracks in the foundation, original bathrooms, busted driveway, your house backs up to a drainage ditch with dead an - imals in it — show them your condition rating if it’s different from the comparables. That gives the (DCAD) appraisers a way to adjust your valuation.”

Focusing on your home’s shortcomings can help, but it’s not a guarantee.

“The sales market has changed in the past four years,” Jordan says. “It used to be that when you sold a property, you would fix it up. Nowadays, people are selling as-is. That has already been accounted for in (DCAD’s) value because the sale accounted for that in the price.”

TAKING THE NEXT STEP (JULY 14)

This is your deadline to file an appeal of your valuation with the Appraisal Review Board, which is a panel (or sometimes an individual) paid on a per-day basis to evaluate appeals.

The ARB hearing panel is a “buffer” of sorts to ensure DCAD’s appraisers are fairly evaluating your property’s value. Typically, you will upload/mail the same information you used while negotiating with DCAD while hoping for a better valuation outcome.

ARB members rely on a DCAD appraiser who attends the hearing and presents evidence about valuation — if you don’t have an extremely compelling case, it’s likely the ARB will side with DCAD’s appraiser, perhaps throwing you a 1% or 2% token valuation “bone” as a consolation prize.

Some ARB hearings are in-person, meaning you will need to travel to attend what likely will be a 15- to 30-minute hearing. Some hearings are conducted by telephone (not Zoom).

You have the right to request any information DCAD is using to value your property, including data, schedules, formulas and comparables — as long as you request the information in writing and at least 14 days prior to the ARB hearing.

During the hearing, you’ll have a chance to succinctly state your case to the ARB, and the DCAD appraiser will do the same thing. Then the ARB will rule on your case immediately