The assessed value of a property has little to do with its actual market value. Even though assessed value references market value, it is a number generated for property tax purposes only. Market value is what a buyer should be concerned with, so ignore all those "priced below assessed value" red herrings and get a handle on real market values.
Gaffs Realty - Port Orange, FL
Thats right! Market value is the amount of money the buyer will actually pay and thats what's most important. thanks for the post.
Jan 02, 2012 03:12 PM
Top Agents Atlanta Metro - Milton, GA
Good Post and good luck on counting down the year with posts, sounds like a good way to stay on track
Jan 02, 2012 03:21 PM
Real Estate Faster - Los Angeles, CA
Marte Cliff Copywriting - Priest River, ID
Your real estate writer
I once got into a big arguement with the County Assessor over this.
They claim that our properties are assessed at market value and I said they definitely were not. Not when the value was based on square footage and the condition / finish was not taken into consideration at all.
The idiot stood right there and told me that a house with plywood flooring, linoleum counter-tops, and no siding had the same value as a home that was completely finished, with top-of-the-line materials.
No - assessed values don't have much to do with anything.
Jan 02, 2012 05:47 PM
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