Foreclosure in Murphy>Question Details

Mary Jarvis, Home Buyer in Murphy, NC

WHAT IS THE MARKET VALUE FOR A SMALL 2 BED 2 BATH HOME IN THE DAVIS CREEK ROAD AREA OF MURPHY AND ALSO THE?

Asked by Mary Jarvis, Murphy, NC Tue Jan 29, 2008

FORECLOSER AVERAGE OF HOMES IN THE MURPHY AREA??? MY TAXES ARE GOING UP LIKE CRAZY AND I DONT THINK THIS IS RIGHT!!!!!!!!!! PLEASE HELP WITH ANY INFORMATION POSSIBLE.

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Mary,
Better late than never....
To properly answer your question about property tax increases in Murphy. Our 4 year re-evalution was done during the market high. Meaning our taxes increased due to the fact that our properties were evaluated at a higher value (inflated) in 2005. The Cherokee County Tax assessors office will do a review of your property with the proper paper work in January only. They are not giving any discounts for just showing up and a CMA may help with additional documents, but not likely. The one exception is a new appraisal of the property...if you are willing to pay for one and if it is worthwhile to you to do so. The County will re-evaluate again in 2012.
As far as our foreclosure market, as of today we have 66 foreclosure properties in our MLS inventory, these include conventional homes, mobiles, and vacant land. We do not have an area called Rolling Ridge. And for those of you that are not familiar with Davis Creek it is a rural road with a gorgeous trout stream that connects Cherokee County, North Carolina to Tellico Plains, Tennessee.
If you would like any more information feel free to call or email. Bonnie Smith, GRI, Broker smithrealtygroup@verizon.net or 828-837-0277
0 votes Thank Flag Link Mon Nov 30, 2009
I would not get to up in arms yet about your taxes hopefully they will drop our millage rate, but we will not know until June. I can do a CMA on your home if you would like and with that info you can better tell what your taxes should be (how close the county is to your market value). Also if it is to far from where the county is you can use that info to protest your taxes. I am not sure about the forcloser rate here in Murphy, but is is not near as high as other areas (Atlanta, Florida, California). You can contact me at 828-837-7322 if you would like a CMA on your home or have furthur questions on the market here in Murphy, NC Thanks Heather
0 votes Thank Flag Link Wed Mar 19, 2008
Market values in Murphy should be pretty stable. Unfortunately many appraisal districts will tell you "foreclosures" don't count towards determining your tax value. Perhaps this is right, perhaps this is wrong, but it happens. You might get your Realtor to give you a quick CMA for the area. If your tax value is higher, then go protest. Take good evidence with you such as pictures, traffic counts, and any other data that might support your value. They might give you a discount just for showing up and protesting the value. You can also hire tax valuation consultants and you can calculate how much value you'll need to reduce to see if their fee is worthwhile. If it is valuable to you then perhaps worth the fee they charge to have them fight professionally for you. Good luck.
Web Reference: http://www.teamlynn.com
0 votes Thank Flag Link Tue Jan 29, 2008
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
Contact
I am just as puzzled.. I don't know any street named Davis Creek or a community name. Can you elaborate more.

Also, there are around 30 foreclosured homes in Murphy. Many in the Rolling Ridge community. Are you behind on your taxes? are you being foreclosed on? your question is a little confusing.

I'll be happy to help, but I need more information.

Naima
214-289-8555
Web Reference: http://www.sumnerrealty.com
0 votes Thank Flag Link Tue Jan 29, 2008
Mary, I know quite a bit about Murphy, but not Davis Creek Rd. What major intersection is it by.
If you get your tax appraisal in the mail, usually there is a place you can dispute them. You go down to the county tax office and let them know your taxes keep going up, but not your property value, if that's the case. You will have to have documentation that your value isn't as high as they say.
You can click on our photo and get our contact information. Email me and I will be glad to look up the comparables in the area. I would need to know exactlly where your home is though. Address etc...
I hope this helps...
0 votes Thank Flag Link Tue Jan 29, 2008
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