Sellers price homes in unusual ways sometimes - often starting with 'what they need to get' out of a sale. This often as little bearing on market value.
My best advice is to work with an agent, myself, or any other reputable agent, and have this person evaluate the home with you. This is what we do for a living and can help you make an informed decision.
1 - The sales price for other comparable homes within a few months.
2 - Is it a seller's or buyer's market. If the inventory is low, like it is now, you may see multiple offers on a property which would force the price up possibly over what the seller is asking. Consider the demand.
I hope this helps =)
Assessors don't know what's inside the house, for example, and there are so many properties for them to evaluate, that they can't really truly assess every property. In many cases, there are homesteads or other exemptions on the property too, reducing the assessed value, or the property were purchase a long time ago - not looked at again (or limited in assessment value growth by law, as is in FL). Principal residences and investment properties are taxed differently as well.
All in all, when buying, it's best to carefully look at the comparable values and the local value trend (unless there is a bidding war).
CDPE - Certified Distressed Property Expert
Beachfront Realty, Inc.
858 395 7727
You are not an agent, so don't try to be one. Hire a professional, it doesn't cost you a dime because the seller or the bank is going to pay the buyer's agent commission.
Hector R. Gastelum
Realty Executives Dillon
The assessed value was determined when the property changed title last time, so it could be several years ago, or had major permitted improvements, so it doesn't really have anything to do with the market value now. A real estate agent would be able to help you write a good - and strategic - offer. Some buyers think they'll get a better price if they don't use an agent, but really the listing agent just gets double the commission, and they already have a duty to the seller to get them as much money as they can. The opposite is true. If you have your own agent, a good one will help you get the property for the lowest price, and negotiate on your behalf throughout escrow, because it doesn't stop at the offer! The offer itself should take several things into consideration that you might not think about.
Contact me anytime, I'm happy to answer any other questions you might have. I'm here to help.
Cory La Scala, REALTOR
Glen S Etherington, Principal Broker, REALTOR
Find the best agent/broker in your area to help you.
Lance King/Owner-Managing Broker
If you are not currently working with a Realtor, you should be. There is no cost to you; your agent is paid by the seller. Your agent will search for homes that meet your needs and are in the price range that you are interested in.
I would be happy to help you find a home and determine what is the right amount to offer on a home that you like. There is a lot of paperwork involved in the purchase of a home and you need someone to represent your best interests.
I am never too busy for your referrals
The San Diego Property Shop
CA DRE # 00648687
Good morning, that is a great question. If you are currently working with a Realtor, I would ask him or her to review comparables in the area you are interested in. By doing this you will get an idea of average marketing time of homes, what is competing with the property you like and what the most recent sales prices have been, you will be able to determine a fair value to offer. Many times what the assessor has is about a year or two old and is based on what sales had done at that time. Market values fluctuate often and what we are finding at the present moment is low inventory levels and a spike in buyer activity.
Keller Williams Realty