i see you estimated a house less then the assesment. how dose that work?

Asked by vitty1150, Shrewsbury, MA Wed Apr 24, 2013

40 grafton st shrewsbury

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5
Steve Levine, Agent, Shrewsbury, MA
Wed Apr 24, 2013
Assessments have nothing to do with the market value of a home. Sometimes they are higher, sometimes lower, and sometimes right in the middle. All that matters is the value based on comparable sales, and what someone is willing to pay.

Steve
1 vote
My NC Homes…, Agent, Chapel Hill, NC
Wed May 6, 2015
To start Trulia isn't in real estate they are in advertising. They know absolutely nothing about real estate and have never seen a single property you see on their site. Next online estimates of value are utterly worthless and they always have been. See attached article below. Finally assessed value (what you pay property taxes on) and market value do not need to be one and the same. you can read why here. http://mynchomes.com/2012/12/26/magic-8-ball-the-value-of-on…
0 votes
Tina Bilazar…, Agent, Shrewsbury, MA
Wed Apr 24, 2013
The question has been answered well by my peers. Value is set by the ready - willing and able buyers.
0 votes
See you Sunday Tina....
Flag Wed Apr 24, 2013
Louis Wolfs…, Agent, Needham, MA
Wed Apr 24, 2013
Assessed values are how towns raise revenues, they are suppose to be at 100% that said many are not. Also assessed values typically are behind the market, whether it is rising or falling. Assessments are done on an annual basis, by the town. Assessed values are just one way to measure the value of your home, a more accurate approach would be to have your home appraised, but the true value of your home is what a ready willing and able buyer is willing to pay.
0 votes
Cray Cullen, Agent, Shrewsbury, MA
Wed Apr 24, 2013
I don't know where you got your estimate. Generally an appraiser is the best source for home value. Then there are local Realtors that can do a CMA (comparative market analysis). These home value estimates are for current market home prices. A home assessment is done by the town assessor for tax purposes. Often the home's market value and the assessment do not match. A house market value depends on factors like condition of home, location, etc.
0 votes
Well said...
Flag Wed Apr 24, 2013
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