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?
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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?
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not necessarily. Try zillow.com and enter the address to see market estimates and history
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.
No. Like said above, Zillow will give you an estimate. My friend, who's in real estate, said they usually run a bit low.
Oh, you guys and your First World Problems...
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.
During the bubble - ie 2008 - my house had a tax assessment value of $338K. With the bubble bursting the assessment value is now $198K.