Hmm. Maybe the assessment laws vary state-by-state, but in Missouri, each county's assessor must determine biennially the fair-market value (FMV) of real property using the comparison sales method or, if that is impossible, the cost method (cost of construction less depreciation plus value of land). I think someone called this the replacement value. And, in some instances, the assessor will use the income method (cash flows discounted to present value).
The assessed value ("AV") is a percentage of the FMV as determined by the county's appraisers using one of the above methods. The assessment rate for residential, real property in Missouri is 19% of its FMV.
So, while I am sure states vary to a degree in their exact methodologies in levying taxes against real property, I am confident that all states associate the AV to the FMV. Any other method makes little sense.
So, in conclusion, I think everyone here is wrong. In Missouri, a quick and easy way to estimate the FMV of real estate is the following equation: AV/.19 (assessed value divided by 19 percent).... more
Knowing the last selling price of a property that you're interested in buying is an important thing to find out in regards to what the seller can accept. But don't stop there. Finding out the current loan amount, who is on title, if there's a delinquency in the payment or homeowners association dues and most importantly trying to find out the motivation for selling. All of these questions should be answered by a real estate agent.... more
I just came across your question and wanted to know if you were able to attend the open house? If not you most likely need to speak with a Realtor that can help you. Sometimes the information to enter a gated community is listed on the MLS. In the future, if you need assistance and would like a list of open houses feel free to call me or send an email if it is more convenient.
Keith L. Bosworth
Yes, I'm glad you asked this question because many people don't consider the condo route as a viable option for income stream. However, I work with clients who buy condos for that reason. I specialize in condos and townhouses in the WC and adjacent cities, condos4all.com. Things to look for: lower HOA fees around or less than $300, then just do the ROI math for the condo. Keep in mind some of the HOA fee you pay goes towards the upkeep of the exterior of the unit, the complex, the roof, the available amenities, etc. Condo living is a lifestyle any according to CCAR the month-over-month and year-over-year growth/appreciation has shown that condos have kept up the pace in appreciation along with homes. Keep in mind that condos provide a great living/lifestyle at the lower price point and as the price point for homes push upward, condos and townhouses present a viable option for 1st time buyers, singles above 55, buyer who only quality for conforming loan limit, etc. Yes, there are condos in the area for rental purposes, just visit www.condos4all.com... more
first ... I am very pleased that 2 of the 10 agents to respond are from my office of 6 agents... And they know what they are talking about. Unlike other parts of the country where this truly is a buyers market we are not finding that to be the case. In most areas of the Central County even at this time of the year properties that are priced right sell ... often with multiple offers. Statistically, the average sales price is within 4 or 5 % of the list price... the challenge is that the market has a higher percentage of homes that are simply unrealistically priced ... and won't sell at all.
Find an agent who can provide you with the comparables you need and the agent with the expertise to interpret those figures to give you the best information to make an informed decision... and remember no matter what you offer in this crazy market it needs to be the price that if you don't get the home .... that's okay because for you that is what the home is worth.
Good luck... select your agent carefully and trust what they say.
Broker / Owner
Windermere Walnut Creek
As others have stated, Rossmoor is less prone to the seasons than most markets. It's much more important that you present your home in the best light. I listed my mom's home on Ptarmigan in October. I hired a painter to touch up a few rooms and a stager to make the home look its best. We priced it at $320K,which was near the top for her model (others were priced between $240-340K), but her place had a nice location and the car port was located next to the front door, which was a major plus. Her place sold in 3 days for full price. Meanwhile, the others priced above $300K all reduced their prices below $320K, and some still are on the market. The morale? Price and home condition are more important than the selling season in Rossmoor. Good luck, and call me if you'd like a free market evaluation of your home!
Will Bateson, Broker
I used to be a teacher and am happy to share information. I know there are so many questions in this process.
Of the 37 properties in Rossmoor that are currently pending, one of them got an accepted offer the first day( 0 DOM) At the other extreme another of these pending sales was on the market for 332 days. The average is skewed because some of the properties have been on the market for a very, very long time. The average DOM for these 37 properties is 77 days.
Of the 172 that are currently for sale on the MLS, the average DOM is 103 days. 7 of those have been on the market for over a year. If I subtract those 7, then the average is 79 DOM for the remaining. Most properties that are priced well, in good condition and marketed thoroughly will sell within the first 30-60 days. Some sooner.
I have been helping buyers and sellers in Rossmoor for several years and I love this community. My aunt lives on Ptarmigan and I am very famliar with MOD and the nuances of Rossmoor. You can go to my website for more information about Rossmoor and to see the properties I am currently selling in Rossmoor, along with the history of the sold properties.
I am not on Trulia all of the time, but feel free to email directly with specific questions. Hope this helps.... more
As far as rentals, you wil get more for your money in Walnut Creek depending on the area you want. all the towns you listed are very cute and great for families. You can look on our website at the different areas and what's available for rent. Craigslist.com is another good option. Because you are relocating from a distance I would suggest working with a local realtor to better help you with the transition. I would love to tlak to you more about it either by phone or email.
Erica Jones Starkey
JSCA Real Estate Group
Providing Superior Solutions for Your Individual Real Estate Needs... more
This calendar year there have been five one-bedrooms sold, ranging from $74,900 to $280,000; four two-bedrooms, from $272,000 to $635,000, and one three-bedroom at $635,000. What other information would be helpful?... more
What was the highest real estate value year for Rossmoor, and since how much has it come down?
Rossmoor Retirement Community in Walnut Creek: Looking at statistics form the Contra Costa Association of Realtors, 2005 was the highest real estate year for Rossmoor, with and average sales price of $449,724. The current average price year to date in 2009 is $279,400 representing a decline of approximately 55%.
With 65 models and over 6000 homes to choose from, these numbers are not a true representation of the total picture of Rossmoor Retirement Community in Walnut Creek. Rossmoor Retirement Community in Walnut Creek has a large range of homes, 174 homes listing from $78,000-$1,200,000.... more
Dennis: I think you're correct within a certain price range - whatever is considered entry level in that given neighborhood, etc. It is very much like the seller's market of 2004-05: low list prices, many multiple offers, etc., particularly if the home is in great condition. I'm a buyer's broker and probably 80% of the homes I'm currently selling are REO's - @ entry level, we are almost always facing multiple offers, and if the place is very nice in condition or location, we may be facing DOZENS of multiple offers. As you move up in list price, though, they aren't flying off the market quite the same. Just my two cents!... more