Assessments are used by the towns and cities to determine property tax. There isn't a real direct correlation between market value and assessments in the current market. We are often seeing market values under assessed valued in many communities. A few years ago it relationship of assessment to market value was inverted. For a clearer indication of value you want to look at what other homes in the area that are similar have sold for in the last 3-6 months. Also take a look at the active competition. How does the home you are considering compare? For an on line snapshot of recent sales in any neighborhood visit this site http://homepricesma.com/ I hope this is helpful in answering your question. Feel free to contact me if I can be of further assistance. Mark Gracy Real Estate Consultant Keller Williams Realty Andover MA 978-861-4016 http://www.GracyTeam.com

Assessments are used by the towns and cities to determine property tax. There isn't a real direct correlation between market value and assessments in the current market. We are often seeing market values under assessed valued in many communities. A few years ago it relationship of assessment to market value was inverted. For a clearer indication of value you want to look at what other homes in the area that are similar have sold for in the last 3-6 months. Also take a look at the active competition. How does the home you are considering compare? For an on line snapshot of recent sales in any neighborhood visit this site http://homepricesma.com/ I hope this is helpful in answering your question. Feel free to contact me if I can be of further assistance. Mark Gracy Real Estate Consultant Keller Williams Realty Andover MA 978-861-4016 http://www.GracyTeam.com

Hi Brandi - Assessed value is not a good way to measure market value in general but this is especially true in this case. Property values in Methuen have taken a hit as they have everywhere but more so in some neighborhoods versus others. Also, this house has been completely renovated and that has an effect as well. In my opinion the house is not priced to sell and that is why it hasn't. It did start at $359,900 and was lowered at the end of March to the current price of $339,900. A market analysis will reveal the current value and working with a buyer agent to represent you will help you put together a clear picture of how to get the house for the price you want! Feel free to contact me with any other questions.