While each house is different and should be compared only to other comparable homes, to answer your question, I have found most properties have been listed on the Lawrence MLS at a price higher than the county appraisals. However, the SOLD prices are lower than the asking prices and average about 97% to 98% of the asking price which brings the prices down closer to the county appraisals but they are still higher. Bank appraisals have to come in high enough to allow loans to fund and in fact do. This is why there is appreciation on Lawrence Kansas real estate homes for sale virtually every year with some years showing 5% to 7% on average. The web reference below will show you some SOLD prices on Lawrence homes which usually becomes the new appraisal price for the property for the next year but can be influenced by other nearby comparable SOLD prices. I would be happy to provide you with a FREE no obligation home value report for any Lawrence Kansas homes for sale that are of interest to you.
Thanks for your question!
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I would estimate that in the past few months most sales have been slightly below county valuation.
Individual homes may vary in value due to the time of ownership, condition, and feature characteristics. IN Lawrence, home values can change extraordinarily from the house next door -- it's part of the charm of a college town -- a million dollar home may be next to a $200,000 rental house.
Final answer: Generally the valuations for tax purposes are slightly less than market value. Don't use County appraisals as absolute figures -- there are too many variables to consider!
Sean Williams, Realtor; Realty Executives-Hedges Real Estate, Inc
Talk to you soon....
David Van Noy Jr