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East Hills : Real Estate Advice

  • All7
  • Local Info2
  • Home Buying2
  • Home Selling0
  • Market Conditions1

Activity 2
Wed Aug 11, 2010
smith3gary answered:
Mike, you are correct, there is a correlation of a homes actual sale price to the assessed value of a home. I'm not sure about Grand Rapids, but in southeastern Michigan the values were usually between 1.8 to 2.25 times the SEV. This has decreased quite a bit with the glut of foreclosures and "short sales' in my area. The new values are quite startling.

A local real estate agent would be able to pull information from public records to give you the range for East Hills. Keep in mind, this is a general range. There are always homes with desireable floorplans, locations, and condition that will have a higher ratio. If your area is in a declining market, the Taxable Value will reach the SEV within a few years, depending upon when you purchased.
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Wed Feb 15, 2012
Bill Schwent answered:
The listing agreement is a contract between the seller and the real estate broker. Those two parties are the only parties that can change the terms of the contract.
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