The Dallas Morning News reported that the number of DFW foreclosures was up in 2009.
This is yet more evidence that 2010 Texas property tax values will be down in comparison to tax year 2009.
The current commercial real estate crisis has not developed into an “S&L” melt down simply because federal regulators have decided not to push lenders to foreclose on assets which have lost tremendous amounts of value. The thinking by The Feds is to push lenders to extend loans and pray that economic conditions improve. This position creates an environment wherein commercial real estate assets are overvalued. Thus buyers and sellers are disconnected by an artificial market. Most real estate professionals agree that the market needs to take the valuation hit then over time real property assets will begin to trade based on realistic assumption needed in an efficient market.  Commercial real estate will make a come back in such a market.
In 2010 Texas appraisal districts will assume that the artificial market create by federal government policy represents the reality of the commercial real estate market. Their position will insure that the number of appeals and litigation will tick upwards in tax year 2010.