I would NOT rely on Trulia or Zillow for estimates. Your agent is the best source of info. These estimates you see do not take into account things like upgrades, lot size, views, condition of the property, new roof, paint, etc....... more
So, how are your plans going, Ryan? Ready for that move? The job competition here has one of the highest education levels per capita. Education is not always a ticket to success, but it certainly has its rewards here.
Hi Home Buyer: This question was asked a long time ago, but it comes up often so I suspect that it is a popular one for Trulia readers. As others have mentioned below, appraisals can miss the mark substantially. There are several reasons for this, none having to do with any kind of incompetence on the part of the county. For one thing, I understand the county arrives at its opinion by looking at comparable sales going back several years. Appraisers like to look at sales during more recent periods because the market can be very dynamic, with prices fluctuating on a monthly basis sometimes.
Additionally, the county does not come out an inspect the interiors of homes so it does not know which homes have been kept in beautiful shape and which have deferred maintenance. And (dare I say it) some owners do make improvements without pulling building permits so the county does not know about these improvements. (Let me mention that upgrading without a building permit can create serious problems and even legal liabilities when one sells a home. don't do it no matter what your neighbor or even your contractor suggests!)
One other factor can affect assessments. Some homeowners are more aggressive than others about challenging upward assessments. And some of these challenges are successful. This also can create some disparity between the assessed values of similar homes.
Hopefully this helps!
Front Range Real Estate, Ltd.
Prudential Real Estate of the Rockies
You need to hire a Realtor. There are several other legal and straight forward ways to "undo" the contract if that is what youneed or want to do. Note that typically, Realtor fees are paid by the seller, even for the benefit of a buyer.... more