Bottom line, if you're trying to use this as a tool to instantly identify bargains then you would be better served by staying loyal to a Realtor who will help you identify true bargains and write your offer the first day on the market so you do not miss out on bank owned bargains.
If your purpose is to use the "property appraiser's" value to negotiate with a Seller, that may work if the Seller is foolish. Most Sellers that are doing it FSBO usually have an overinflated asking price and will be researching recent sales in their neighborhood.
All the best,
Market value, in my opinion, the true value of what a buyer deems to be the value. Pricing a house, usually by an agent, is gather from knowledge of what the market will pay for a home in a specific condition and recent sales of similar properties. It is part witches brew and calculus...ha! ha! An exerpiences agent gathers information from many sources to give a seller a range of where the property will sell; of course, real estate conditions must be constant for it to work. In the market we've had for the last 4-6 years...that's been a real conundrum. The real estate market has been anything but stable, however, the tide is turning. What more opinions and observations call Kathy BC 800448-3411 ext 601
Not much at all, epecialy if the home is a homestead and was last sold years ago. I wouldn't use this to try to find the market value of a home. The assessed value of a home is to calculate the property taxes of a home but has little to do with the value of the home. There are many variables. The better way is to work with a Realtor who will do the proper comparable and BPO for you.
If you have any questions regarding ceratin properties, drop me an email or call.
Premier Sandals Swfl Realty
cell: (239) 810-2980
work: (239) 463 5217
skype: lloyd . nichols
The assessment value is calculated based on county rules for appraisals, based on the tax roll info (not always correct), and using sqftage that includes a part of the garage, patio etc. - which only makes this more complicated and even confusing to the buyers. Also, the assesors don't use foreclosures (unless they are typical in the area, and even then rarely).
Assessment values are always lower - and are based on exterior observations, if any...Homes recently purchased get their assessment values re-calculated. Those properties that have been owned for a while - change their values very little, because of FL law (if homesteaded property).
There is no official "relationship" between the assessors value and the value of the property.
The best way, as previously stated by other agents, is to figure out what the property in question price really is - based on similar comps within the past 3 to 6 months, no more than 1 mile radius away from the subject property. Then, your agent can show you the "adjustments" for condition, pool/no pool, fence/no fence, fruit trees, lot size, updates etc. In a changing market environment, you can also take a look at actives, expireds and pending/back up listings - to have the idea of where the values are heading (up or down).
Hope this helps,
Beachfront Realty, Inc.
ALSO TAKE INTO ACCOUNT THE INTERIOR AND EXTERIOR OF THE COMPS COMPARED TO THE SUBJECT PROPERTY YOU ARE LOOKING AT AS WELL AS LAND IF LOT IS LARGER OR HAVE WATER VIEW OR CANAL ETC.
IF I CAN BE OF MORE HELPP PLEASE FEEL FREE TO CONTACT ME.
ALL THE BEST,
To simply clarify..
The "assessed Value" is the value the County appraiser puts on the home for tax purposes based on recorded sales in the recent past.
The "sales price" of a home is what people are actually willing to pay for the property [not "listed price" or requested price]..
If you are investigating purchasing a Realtor can assist you on providing "comperable sales" to help with your purchasing decision.
Hope this helps!
There are two numbers obtained from tax records that are often used interchangeably. That is reasonable because they are often, not always, the same value. They are Assessed Value and Just Market Value. (JMV) is statistically estrapulated from the Assessed Value and area sales or merely duplicated. You will need to read the fine print/disclaimers in the county website you are visiting.
This morning a completed an evaluation seeking precisely the information you ask about. The relationship as revealed by the statistics for the community of over 900 sfh analyzed in North Pinellas County was a factor from 0.9 to 1.7.
CONCLUSION: Statistics are no substitute for judgement.
But if fun going it alone.
In Tampa Bay a ballpark is the appraiser's value is about 80%-85% of market value. Of course this is a very "general" and ballpark figure because the county property appraiser's office doesn't always know about expensive upgrades inside the house. Also make sure you're not looking at the "assessed" value because long term owners may have a significant "save our homes" Homestead discount.
All the best,