Home Buying in Des Moines>Question Details

Fitness, Home Buyer in Des Moines, IA

how do I know if property has been assed accordingly?

Asked by Fitness, Des Moines, IA Fri Jul 1, 2011

Help the community by answering this question:


Lynn is correct in her description.

When working with buyers, I cannot emphasize enough that they need not rely on the assessor's page. Realtors are trained to come up with a value of a home in the same way as appraisers.

Your agent should do a market analysis on the home you are considering. This number will be much more indicative of the home's value rather than going off the assessor's numbers.

Email me if you have further questions!
Betsy Sarcone-Iowa Realty
0 votes Thank Flag Link Sat Apr 14, 2012
Many people confuse Assessed Value with Appraised Value and Market Value.

Assessed Value is determined by the taxing authority and is the value used to determine your property taxes.

Appraised Value is determined by an Appraiser who looks at comparable homes that have sold and reveals a snapshot of the value of a home at a period in time.

Market Value is determined by buyer's who have a variety of homes to selct from in an open market, the value is determined by what the buyer ultimately pays for the home.

The first two are supposed to reflect market value, but since both are hypothetical situations they can be off in actual value to a buyer. The appraised value is very close, but again nothing is perfectl

If you have any questions,please feel free to contact me either by email or phone.
0 votes Thank Flag Link Sat Jul 2, 2011
If the government that is broken determined the value assume it is higher than it will sell for now. Iowa law states the value must be 109% fair market value as of 1-1 yet when you file a protest they ask how You feel your properties are over assessed compared to like neighborhood assessments. Assessment is never egusl to real value. Good luck
0 votes Thank Flag Link Fri Jul 1, 2011
whatever do you mean? I don't understand your question.
0 votes Thank Flag Link Fri Jul 1, 2011
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