Rahul,
There are 102 Homes which have sold in Shrewsbury since Jan 1,2009. Yes ,many of them have sold for less than assessed value and some have sold for more. There really is no easy answer due to other factor which need to be addressedwhen looing for a home. Things that you would need to consider as well would be the condition of the home,The location,is it on a busy, how many days has it been on the market and there are other factors to help determine the value of a home. I would be more than happy to discuss the market conditions in shrewsbury area with you if you would like .ron@ronberquist.com

Take Care,
Ron

Rahul,
Doing a real quick check on MLS, it appears that more houses are selling BELOW their current assessed value in Shrewsbury over the last 3 months that ones that are selling ABOVE their current assessed value. Keep in mind assessments are not great indicators of market value. There are some exceptions to the rule, but I'm looking at 53 single family sales over the last 3 months in Shrewsbury and roughly 90% or more sold for less than assessed. I'd be happy to discuss further if you'd like. mlefebvre@verizon.net

Take care,
Mike