Don't use the FMV as a guide, the information is not up to date; do ask your Realtor for comps for that area--if you don't have one, now is the time to consider using someone. Also check MLSLI.com, under closed properties for accurate data.

Anna
917-576-5376
abrocco@laffey.com

Tara ,
As a professional , part of my job description is to give a price
assessment on properties . I do this for individual home sellers and buyers .
I also work with many banks and professional investors , and I can assure you
that in my 16 years of experience , I have never referred to the FMV at the Nassau
County Assessors site to determine the value of a property for one very simple
reason . The property information it uses is out-of-date and in these volatile times
I cannot rely on home sale prices it uses which are anywhere up to 2 years old !!
My customers require information that , for the most part , is 3 months old
or less , so I have to use other sources not available to people not in the
real estate business . This is the information that we pay to get as soon as possible
so that we can those make up-to-date pricings . This information is not practically
available to the average person , so my best advice is , ask an agent you trust to
tell you what is going on

Terence Cavill
516-205-3224

Hi Tara - the FMV is one indicator to look ay when deciding what to pay for a home, but as others mentioned there are many other things to look at as well. The best way to see what is happening in the neighborhood that you want to buy is to look for comparable sales in the neighborhood. That is the best way to see that you are paying the right price for a home. A good agent will have used these comparable sales to price the home correctly. Maybe this home as more amenities than others, maybe it is a better location, or maybe it is overpriced.

If you want help in figuring all this out, please contact me. A good place to start looking for a home on LI is my website http://www.FindYourHomeLI.com there is a lot of useful information and tools there to help you.

Good luck.

Donna

Tara,
I am looking for a house in Oceanside which is nearby and I have followed the trend for over a year and here is what I can tell you:
1. The initial listing price of the house is almost always very close to the assessed value you see on the nassau country property tax site.
2. They usually are sold BELOW this price, sometimes, this could be 10% off, sometimes even 20% off, but I have yet to see a sale that is ABOVE.
3. I also liked one house that was priced at 600K which is 20% above its assessed value and considering that similar homes needing a bit of work sold for about 450K which is 25% less than this house's asking price, I offered 450K. The seller came back saying that they won't look at an offer less than 500K. So, I am sitting tight-they have been on the market since Sep 07 with no price movement, clearly, they are testing the market out, so I am patient till I find the another house I like with a very, very motivated and realistic seller. And, enough crap from the realtors saying that they are the only ones who know property's true value and how buyers are obnoxious enough to lowball. Why weren't they saying how obnoxious the sellers were for getting 650, sometimes 750K for house they bought 12 years ago for less than 200?

Hi Tara. it depends on the seller's motivation, if he NEEDS to sell, he will negotiate until it is sold. If the seller WANTS to sell but does not have to sell, then you will face an uphill battle. Just offer that most you can and provide as much documentation (credit report, w2's, bank statement) to make your offer stronger.

Good Luck

Henry
917-497-0729
http://www.QueensLIRealtor.com

Hi, Tara,
I am a new real estate agent in Nassau County.
I have looked at the Nassau County Assessors site many times
and I have found it to be a good parameter of what to list your home for or
what to pay for a home.
However; since the recent housing slump there are not as
many recent sales to compare the house you are interested in to.
Usually they compare it to houses that have sold in 2006 and 2007.
In the last six months houses have dropped
approximately another 10% so you have to consider that when making an offer.
I would be happy to assist you and help you find something
where you feel confident you are not overpaying.

Call me 516-312-6245
Good luck
Camille Dandola, ReMax Hearthstone, Bellmore, NY

Hey Tara - the FMV listed on the assessors office is normally not accurate - anywhere throughout the country. Investors do not use tax assessed values to judge the value of properties - they use real estate professionals. My suggestion to you is find a licensed real estate professional (not because I am one). Buying a real estate is NOT like buying a car. Shop around, when you find a Realtor that you find to be competent, honest (in as much as you can tell) and one you're comfortable with - start using them solely as a resource for helping you manage your home search.

FMV is and will always be - what the market (buyers) will pay for a given property in a given area at a certain time. Pay little or NO attention to the Nassau Cty assessors site. Do not use zillow.com or any other silly website like that. Use a LICENSED professional. Of course not all real estate agents are created equal - some are better than others - just search one out and if they're good at what they do - they'll make the process a bit more manageable.

Good Luck!