There are many factors that go into buying (and selling) a home. But just like most buying decisions, particularly the big ones, in the end it all comes down to price. How much is your house worth? Or how much should you pay for that dream house you’ve got your eye on?
Like all complex questions, there’s more than one “right” answer, but some answers are better than others. Let me explain… Lots of times, people will ask me about the “tax value” of a home, and that is a factor to consider, but it’s not going to be the best answer to either of those two burning questions above – how much is your house worth and how much should you pay for a particular home for sale?
Tax value – also called assessed value – can be way off the mark. Tax value is an amount assigned to a property as a basis for taxation. Tax value probably doesn’t reflect the current market value – and it may even be based on market conditions so far in the past that they are no longer relevant, as tax values are rarely re-assessed in a timely manner.
Guilford County reassessed tax value a few years ago, and we have seen numbers all over the place. Remember they are collecting taxes, not selling your house for that price. Market value – what comparable homes in the area are actually selling for right now – is a much better indicator of how you should price and what you should expect to pay.
That’s where I can help. It’s my job to be able to provide you with an accurate market value for your home for sale or one that you may want to buy. And price is important. Going to market with an over-priced listing is a common and critical mistake. Homes that are priced right (right from the start!) sell faster. And paying too much for a dream home can turn into a nightmare. So, let market value (and me!) be your guide.
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