I am newbie and have a few questions for you seasoned vets in here…1. What is TAX ASSESSED MARKET VALUE, and how do I find it on a property? my second question is 2. What is APROX. COMP VALUE, and how do I find it on a property? (scratching head ??? )
Howdy dddd4826:
Tax value is what the tax man thinks you property is worth and the Comp value is a perhaps more realistic value done by Realtors or appraisers or yourself using recent sales in the neighborhood that are similar to your property. In some areas the numbers are close and some they are far apart one way or the other. This all also depends on market trends. I remember here inAustin after a severe recession everyone complaining about the high tax values because the real values had fallen so sharply over a year or two.
Hope this helps LOL
It does and thanks Mr. Stokely I appreciate it.
Ted,
While we’re on it… How much faith would you put in online comps? I’m not at all sure where these sites get these comps. Would you trust them enough to make an offer, or would you always feel the need to do your own?
Howdy DDD4826:
I have not used the online comps very much. I mainly just use existing homes that are on the market. I like to see what I will be competing against. Sold comps are better but harder to get if you are not a Realtor. Current MLS listings are available thru several Realtor web sites and local newspapers etc that you can use as a comparison. I have used the DiTech mortgage site a time or two but the area I was in did not have enugh info.
LOL