I'd concur with the previous comments. It is worth reinforcing that assessments are based on older data. Additionally, assessors typically do not see the inside of homes in the way that appraisers do.

Bottom-line: an appraisal is likely to be "more accurate"----and it may come in higher or lower than the assessment. I don't think there is any standard correlation that one could site----each property is going to be different.

Best of luck, Tommy

I have found assessments are pretty inaccurate overall. I like this tool for gaining a general value of your home - note that you do not have to login to access the valuable information:

http://www.definitelydave.com/Sellers/

I have tested this system for many properties and the number generated is pretty accurate. I would be happy to go over recent sales in your neighborhood and give you a 'market price.'

I have found that county assessments have historically been quite a bit less than an actual appraisal. However, as of late (because of the dated information the assessor's office is using and our changing marketplace), an appraisal can come in lower than a county assessment -- especially within certain areas of Boulder County. As an example, the Louisville market is still experiencing positive appreciation, while the Lafayette market is seeing some depreciation.

A real estate professional can certainly give you a very good educated guess on market value since we are working within our markets all the time. However, unless we are also licensed as an appraiser, we cannot attest to the true value of a home as only an appraiser can do.

Within our current market where some areas are experiencing decreased home values, appraisers are spending more time and being much more cautious in their property valuations.

If you are purchasing a home and acquiring financing, your lender will select an appraiser to value your property. However if you have the funds and do not need to obtain a loan, I would highly recommend you acquire a formal appraisal anyway --- it is for your own protection. Let me know if you need a referral for an appraiser.

Best of luck to you.

Thanks for your question. County assessments vary as far as how close they are to value depending on the age of the home and which area. Keep in mind that the comps used are sometimes almost 2 years old and the assessor then adjusts. At most, the comparable properties would be a year old. That's a lot of time when the market can change in any type of market.

Appraisals will always vary depending on the appraiser. If you ask five appraisers for value of a home, you'll get five answers, sometimes quite different.

Your best bet for figuring the value of a home is to ask a real estate agent. We are "in the trenches" so to speak and are looking at homes (and assessing value for our customers) on a daily basis. Appraisers and the assessor's office never enter the homes (sometimes appraisers do).

If there are specific properties you would like to find out more about please let me know.

Best Regards,

Jenny Lane
303-887-3615