More info on how I got the market value at $130,00 & asking price $175,000. I got the info from the info sheet on the home when I viewed the

Asked by Oj, Allegheny County, PA Mon Oct 11, 2010

property

Help the community by answering this question:

+ web reference
Web reference:

Answers

4
Emily Murphy, Agent, Pittsburgh, PA
Mon Nov 15, 2010
On the MLS sheet the Market Value is the tax assesment value. The purpose of showing this number is to let potential homebuyers see the number the property taxes are calculated by. Keep in mind in Allegheny County, this will change because of the reassesment under way.
0 votes
Erica Ramus,…, Agent, Pottsville, PA
Sat Oct 30, 2010
You also need to know when the county last valued the properties. In my county the last county-wide evaluation was 12 years ago. Thus Fair Market Value on our forms is 12 years ago! You cannot price a home using this figure. It's used for taxation purposes. You need to find current comparable sales in the neighborhood to answer your questions -- what is fair market value NOW for the house?
0 votes
Benny Smith, Agent, Pittsburgh, PA
Sat Oct 30, 2010
OJ
The MLS in this area puts the appraised value in as the market value. This is something agents have no control over. All buyers should go over one of those info sheets with a local realtor to make the information more useful and in some cases downright confusing. Any other Questions about our forms?
Benny
0 votes
Terrence Cha…, Home Owner, Allentown, PA
Mon Oct 11, 2010
So you're saying that the $175K property got it's comps from similar homes in the area and they were only about $130K? Really? Now what is that telling you?

1 - There home is priced too high.
2 - Because it's priced too high, then they don't want to sell it.

Get a local real estate agent to help you out. Like I said before in your other post, they will probably not charge you anything if the commission is coming from the seller side.
0 votes
Search Advice
Search
Ask our community a question

Email me when…

Learn more