I have another question…
I was looking up the “Tax Appraisal District” for a home and I noticed it has the “Total Market Value” for that home…
Can I go by this to find out how much a property’s ARV is instead of WAITING for a realtor’s response for the comps to a property? I’m just not sure if that’s the same thing or similiar to it. Thanks!
The “Fiar Market Value” is am estimate from the tax appraiser that is normally based on data that is 12-36 months old. They can be off from actual values by up to 40% in some areas. The assessor’s numbers are normally on the low side, though, so in most cases you can use the assessor’s numbers as a minimum number, NORMALLY!
If you are in an area of falling prices, or if the house or property has had something happen to it which would lower market value, then the assessor’s values can also be too high (a funeral home open across the street, for instance).
Thanks again Salverston! :beer