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OT - Urgent!!! Need quick real estate input
If a seller is asking $400k for a house now...but 2012 Tax Assessments are 100k less...does that mean the seller is asking WAY over the value of the home?
Sent from my DROID X2 using Forum RunnerDisclaimer: The content posted is of my own opinion.
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Re: OT - Urgent!!! Need quick real estate input
not necessarily. Try zillow.com and enter the address to see market estimates and history
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04-01-2013, 02:42 PM #3
Re: OT - Urgent!!! Need quick real estate input
No. Like said above, Zillow will give you an estimate. My friend, who's in real estate, said they usually run a bit low.
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04-01-2013, 02:42 PM #4Legendary RSR Poster
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- Aug 2007
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- Houston, TX Y'all
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Re: OT - Urgent!!! Need quick real estate input
Depends ...
Were there any renovations done to the home since the assessment? Has the area seen an uptick in purchasing of existing homes?
Your agent can answer all of these questions. Or should, I should say. If your agent doesn't know this stuff, I'd recommend getting a new one.
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04-01-2013, 02:43 PM #5
Re: OT - Urgent!!! Need quick real estate input
Oh, you guys and your First World Problems...
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04-01-2013, 05:00 PM #6Regular 1st Stringer
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- Jul 2011
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Re: OT - Urgent!!! Need quick real estate input
This. I bought and sold a house lat year and my agent was able to give me opinions with confidence. If you don't trust your agent you should get a new one. No recent sales comps is not really a good answer. Your agent should be able to provide somethhing to help you make a decision. Something has sold in the area in the last year. Something must have been listed. Even if it is not exact you can see what the differences are and try to determine what the value is to you.
To answer your question like others have said, Don't rely on tax assessments. There can be a ton of reasons why they are different.
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Re: OT - Urgent!!! Need quick real estate input
In Connecticut the tax assessment is always significantly lower than market value. A house assessed at $300k could easily sell for $600k
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04-01-2013, 03:12 PM #9
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Re: OT - Urgent!!! Need quick real estate input
Because I'm in a somewhat rural area, my county tax assessment is WAY lower than the appraised value of my home. Like half. Which is good. An appraisal and a tax assessment are very different animals.
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04-01-2013, 04:31 PM #11
Re: OT - Urgent!!! Need quick real estate input
During the bubble - ie 2008 - my house had a tax assessment value of $338K. With the bubble bursting the assessment value is now $198K.
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Disclaimer: The content posted is of my own opinion.
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