Feel free to contact me for more information. I don't make money for referrals, just my inspections.
Mid Jersey Inspections
NJ Home Inspector Lic. #076900
The answer to your question fluctuates constantly. Ridgewood is currently selling from 94-97% of assessed value. go to http://www.tavinrealtors.com and click on Market Snapshot. for up to date quarterly info.
Tax assessed value verses true value is just one of several indicators for accurate value.
When considering a home, research how much other homes have sold on the street. I'd be happy to send you this info. Consider how much you will need to invest in the home to bring it to a comfortable and usable setting for your family. Add this figure onto your sale price and weigh whether this figure brings the home to an 'over-improved' status.
E-mail email@example.com if you have further questions.
Absolutely not. Assessments often have nothing to do with market value. They are often based on out-of-date information, or even quite commonly information that was never accurate to begin with.
They obviously also fail to account for seller motivation and often do not reflect physical, functional, and external obsolescence observed on the property.
Evaluate potential properties individually, either on your own or with the help of an excellent agent. Assessment is a meaningless statistic for the most part.
Member, Worldwide ERC
Licensed Realtor NJ
Licensed Appraiser NJ & NY
Century 21 Joe Tekula Realtors
Phone (direct): (973) 584-4235
Fax (973) 584-5092