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Assessed Value vs. Appraised Value!

By Janet Larsen

Real Estate Agent with REMAX Community

September 28, 2010 01:55 AM

As a full time Broker/Associate working 10 years as a Realtor I am truely amazed at the lack of experience in this business and wish there were higher education requirements in this business. Consumers must be educated in listing and buying homes! Know the right questions to ask before you sign a contract to sell your home! Yesterday, I received an offer on one of my listings from an agent. The agent stated her buyer will not buy higher then the assessed value. I expressed to the agent that it is her job to educate the consumer on the difference of Assessed value vs. market value vs. appraised value. Assessed value is what your township bases your tax rate on. That is not the same as appraised value NJ taxes are high as it is! You would never want your taxes to be based on the appraised value! If you are looking for an experienced Realtor in South NJ, please call Janet Larsen, Remax Connection at 856-261-6910 now! You can't afford not to! www.njrealtorjan.com

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Ann Sabbagh

Seacoast Mortgage Corporation, RI (20021119LB & 20031576LL), MA (MC2107) & CT - Pawtucket, RI

President, Sr. Loan Officer

Janet, In our area, assessed value is very often close to the appraised value. There is not much difference. Years ago they were miles apart, but the gap has significantly narrowed. Perhaps that agent is a transpplant from up here in RI.

Sep 28, 2010 01:58 AM

Gary L. Waters Broker Associate, Bucci Realty

Bucci Realty, Inc. - Melbourne, FL

Eighteen Years Experience in Brevard County

In a declining market, or any market, I think the values assigned by tax authorities are of little significance - except to see what the current taxes are based on.

Sep 28, 2010 02:00 AM

Tish Lloyd

BlueCoast Realty Corporation - Wilmington, NC

Broker - Wilmington NC and Surrounding Beaches

Janet ~ Truth is, you probably just educated that Agent. I'd go out on a limb here, and venture she took a seminar on representing the Buyer and an instructor "taught" her to show how much she knows by using this tactic. It has been my experience (and I'm full of it) that many of these "Buyer Agents" will work themselves and their buyers right out of the market. Saddddddd.

Sep 28, 2010 02:01 AM

Janet Larsen

REMAX Community - Sicklerville, NJ

Don't Just List Your Home, SELL IT!

Thank you all! Competing for sellers and losing buyers to uneducated Realtors is very sad! I want to educate every consumer so they know the right questions to ask and can make an informed decision!!!

Sep 28, 2010 02:03 AM

Greg Nino

RE/MAX Compass - Houston, TX

Houston, Texas

That's a pretty elementry discussion. I cannot believe any agent wouldn't know the difference.

Sep 28, 2010 02:07 AM

Brin Realty Associates Team At Bean Group

Bean Group | Brin Realty Associates - Amherst, NH

Amherst NH homes and Southern NH real estate

And assessed value can be spot on or off the chart wrong!

Sep 28, 2010 02:44 AM

Assessed Value vs. Appraised Value!

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