Buyers never want to pay too much, and sellers don't want to leave money on the table. So, what to do? In the words of real estate professionals, you "pull some comps."
i live at 5818 morella ave. valley village cal. 91607 my property taxes
went up recently for 207 and 2008 but all the home prices have dropped 40
to 60%. my home is 1700 square feet. i feel it is worth less than $325,000.
what are some of the comps in my area?
I live on 1425 Circulo Sombrero Rio Rico, Arizona 85648. My property taxes
went up drastically for 2009 and 2010 but all the home prices have dropped
by as much as 60 percent. My house is 2800sq ft I feel it is worth less
then $300,000 What are som good comps for my area
Picking "comps" or comparables are just what it indicates. The
best, most similar type homes in the subject neighborhood. Even though
I'm an appraiser, I suggest calling an appraiser for an appraisal. Yes,
you can utilize AVM's or other forms of computer generated market
analysis, but ask yourself this, do you want to trust the valuation of one
of the largest asset purchases you will probably make in your life time to
computer/AVM system thats probably 500 to who knows how many miles away
from your subject property, subject neighborhood etc, etc, etc. FYI, after
these AVM's came out and started being utilized in the appraisal
industry, about two (2) years later they started reducing the AVM computer
values by 20% to cover all the overvaluations of their numbers.
"Plenty of data on that online". In closing, be advised that
quite a bit of my appraising business these days is the
"investigation/review" appraisal work of the AVM's as they
have overvalued property nationwide.
THANKS
I am a professional property appraiser.. Zillow is worthless. VERY rare is
the est. price that is listed on Zillow even close to the actual market
value of the home! It is a free site, and in this case.. You will get what
you pay for. It has been off as far as 25-30,000 dollars in value. Do not
put ANY weight on what Zillow say.. Do yourself a favor.
I am looking for two comps to send with my application for value
reassessment for my property tax. My address is 5915 Walnut Ave., Long
Beach, CA. 90805. Can somebody help me?
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