Property Values

[Gil Dobie]

Just checked my property value with the county and it hasn't changed since 2008. There are 2 houses for sale near us, 1 a couple blocks left, the other a couple blocks right. About $250,000 difference in asking price, and both property values have gone down since 2008, and both have similar values. We are planning on selling in a month and our value registered with the county is more than either of theirs. Thinking of a price in the middle and see what happens. Any advice, experts and amateurs welcome.

[D1B]

Start with the highest price. Room for negotiation. Unless time is a factor. It all depends on when you need to get rid of it.

I wonder if you can market that house to richer fukcers who are in over thier heads and looking for a lesser abode. Perhaps with a real estate company that specializes in top shit homes?

Fukc I don't know.

[Gil Dobie]

Start with the highest price. Room for negotiation. Unless time is a factor. It all depends on when you need to get rid of it.

I wonder if you can market that house to richer fukcers who are in over thier heads and looking for a lesser abode. Perhaps with a real estate company that specializes in top shit homes?

Fukc I don't know.

In this market who knows

Our house is old, but being on a lake is probably why it has kept it's value.

[danefan]

I don't know about where you live, but in NJ and NY the assessed value isn't generally anywhere near the market value.

When you say county value, are you referring to the assessed value, used for your property taxes?

[AZGrizFan]

Start with the highest price. Room for negotiation. Unless time is a factor. It all depends on when you need to get rid of it.

I wonder if you can market that house to richer fukcers who are in over thier heads and looking for a lesser abode. Perhaps with a real estate company that specializes in top shit homes?

Fukc I don't know.

In this market who knows

Our house is old, but being on a lake is probably why it has kept it's value.

How much ya' asking? I just got a nice raise from a not-for-profit organization...

That was for you, D....

[blueballs]

Typically (at least in Florida) your assessed value is about 80% of what your market value was two years ago.

The only effect real estate tax assesment has on the sale of a home is the buyer's ability to qualify for the new PITI (principal, interest taxes and insurance) payment. The actions of buyers and sellers in your market for similar homes is the true indicator of value. Look for similar square footage homes, with similar amenities, in similar condition, within 1 mile of your home, that have sold in the last six months and that will give you a good idea of what your home is worth.

If you know an appraiser have him do a pencil search for you or if you know a realtor have them do a comparative market analysis.

[Gil Dobie]

Typically (at least in Florida) your assessed value is about 80% of what your market value was two years ago.

The only effect real estate tax assesment has on the sale of a home is the buyer's ability to qualify for the new PITI (principal, interest taxes and insurance) payment. The actions of buyers and sellers in your market for similar homes is the true indicator of value. Look for similar square footage homes, with similar amenities, in similar condition, within 1 mile of your home, that have sold in the last six months and that will give you a good idea of what your home is worth.

If you know an appraiser have him do a pencil search for you or if you know a realtor have them do a comparative market analysis.

Thanks for the input BB. We plan on talking with realtor's in the next month. We are happy with the assessed value, and could sell at that price if we have to.