Home Buying in Coxsackie>Question Details

Cutielulu593, Home Buyer in Coxsackie, NY

If a house is on the market for $189,500, how much could it conceivably be sold for?

Asked by Cutielulu593, Coxsackie, NY Tue May 25, 2010

The listing includes assessment information which is $101,000.I'm not really sure if that's what it's worth or just what it is taxed for? Thanks in advance.

Help the community by answering this question:

Answers

3
Your house is not worth:
What you put into it,
What you paid for it,
What you need to get for it,
or what it's appraised for.

It is only worth what the market will bear. You can only look at what has recently sold in your area to determine what a particular property could be sold for.

Denise Mink, Realtor-associate
Coldwell Banker Village Green Realty
Windham
0 votes Thank Flag Link Tue May 25, 2010
Don't use the assessed value as a basis for the market value in the current market. Assessed values are effective only as of a specific date (probably some time ago) and are developed using mass-appraisal methods so that thousands of properties can be valued by a small staff of assessors. For example an independent single-property appraiser valuing the property for mortgage purposes would most likely value the property as of the date of inspection and use comparable sales during the last 90 days. The assessed value may have an effective date of December 31, 2009, and have been developed after the assessor considered sales during the period from July 1, 2008, through June 30, 2009. Assessment methods vary by state so if you want to know more call your local assessor.
0 votes Thank Flag Link Tue May 25, 2010
Assessments have no bearing on market value, as they are the value set for tax purposes--in order to establish a market value, you need to be aware of recently sold similar properties in the immediate area, review the data and make a determination as to a fair offer--ask your agent for comps.
0 votes Thank Flag Link Tue May 25, 2010
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer