After doing some comps of my own, I believe it is priced appropriately. But hey, everything is negotiable in Real Estate! Please let me know if you'd like to see this home.
Dustin Brohm, REALTOR
Equity Real Estate
The agents that responded to this question are ALL CORRECT...that home is well priced for the condition and size of the home. I do not have to look up comparables because I live and sell homes in Sandy. I already knew the answer to this question without looking up recent solds.
You should know that SUPPLY & DEMAND rule the local Salt Lake area real estate market. Does anyone know how many homes under $185,000 that are available for sale in Sandy (not including short sales) that you could buy? 7 including the subject property...DO you know how many homes are for sale under $200k in Sandy (not including short sales)? 11.
Those low numbers are continuing to push prices up. Maybe a year ago...you could have bought that home for the assessed value...but no more.
The tax woman does not look at supply or demand when setting your homes value. You should not either. Tax values are set so the gov't can collect taxes...not so they can buy/sell homes.
To prove my point....you should ask your agent to pull up 3 or 4 recent sales in the neighborhood you like...then take a look at the assessed value. AND you will see that BUYERS set prices. You will see that the SOLD prices are 99% of the time...HIGHER than assessed value... CAUTION...this will be in reverse when the market begins to drop during the next low cycle.....The assessed value will be higher than the actual sold prices (this is what happened in UT starting around 2007).
What am I saying..? either you or your agent should know how to read the market with ALL available inputs. You should know about supply in the neighborhoods you are looking at...you should know what the condition and layout was of recent solds VS. condition and layout of active listings.
IF you want to test my theory.....make your offers at the tax assessed value on your next purchase attempt. Once you watch a few homes that you liked get sold to other people...you may believe what we are all saying....."your perspective is incorrect and you need better data and advice".
Brandon Hacker, Realtor with Exclusive Real Estate