More reliable than zillow, eppraisal, and cyberhome.com when getting the true value of the home including ARV?
Sounds like you’re asking about your state’s property tax / appraisal website… The appraisal numbers on state websites can vary wildly from the actual value of a property. We’ve got some houses in MS where the actual value is fairly close to the state’s appraised value, while some other houses are worth about half of the state appraised value. Our apartment building in IL is appraised for about 1/5 of it’s actual value.
Yes I am asking about the state’s property tax / appraisal website. You know the one I am talking about. The one where you google (your state name) real property data is the one I am referring to. The last I heard someone on here made a post saying zillow is not all that trustworthy and that eppraisal was a little better. I just need some accurate numbers to do wholesale deals. The site I went to directed me to the county I live that has all that information.
I feel that zillow’s numbers are more consistant that the tax assesed value.
The tax assessment value has absolutely nothing to do with the market value of the house. Ignore it completely.
Market value is determined by the sales price of similar homes nearby that have sold recently.
And where do you suppose I get the sales price of similar homes nearby that have sold recently? I have to get the numbers from somewhere. Everyone on these forums have suggestions about where to start and each person has different views from the other person as to which is best and which is not.
From real estate agents, appraisers, or anyone else with MLS access.
The others are absolutely right - tax assessment/appraisal is not an accurate reflection of current value. It is a tax authority’s assigned value in order to establish that area’s tax base.
Keith
[quote author=tbodley74 link=topic=49170.msg242050#msg242050 date=1300184216]
And where do you suppose I get the sales price of similar homes nearby that have sold recently? I have to get the numbers from somewhere. Everyone on these forums have suggestions about where to start and each person has different views from the other person as to which is best and which is not.
Quit your whining. You are on a forum you will get differnt opinions, but nobody on this forum would advocate using tax values.(slight overstatement, but not by much)
Whenever you ask someone a question you get an opinion. Sometimes that person has a bit of knowledge or experience to back it up, but even experts disagree.
I didn’t want to be the one to say it, but yeah tbodley why are you on here asking questions that you already know several answers to, based on previous questions you’ve already seen addressed on here? I’m sure you can accept the fact that there could be more than one correct answer, and as HPM so correctly stated there’s certainly always gonna be more than one opinion to any question, even among experts. One thing is for sure, no one has ever said use the tax value as the ARV.
What I’m getting at is you gotta have a certain level of grit and determination to just take action and see things through. You learn exponentially more by doing than any other thing you could do. There’s not a book, forum, class, boot camp, REIA, or whatever that can come close to actual learning in the field. And guess what, other people usually are open to helping you when they see you’ve already put forth substantial effort and perhaps simply hit a road block…but no one enjoys whiners except other whiners. Get some grit!
Ok, I have been sitting here being quiet (which is a first), tbodley, when someone ask for a place to learn, and several people say “read xyz book”, normally a few days later that person is saying how great the book is,you say why you can’t buy it,then why you can’t buy it used,then when you finally get it (after I said go to the library and check it out), you said something like “I scanned a few chapters”,at that point I stopped reading post you made, you aren’t willing to do whatever it takes to be successful
The successful people on this message board didn’t get successful by half way doing it,I spent the morning working on getting a swimming pool emptied, it was a nasty mess,guess what, I didn’t have a contractor that could do it now, and it needed to be done, so I did it,
I"m up by 5AM each morning to go over new homes on the market, read (yes about a book a week), and see what my day has for me, I don’t use an alarm clock,I am excited to get up every day
There will be roadblocks,deals fall apart, sellers get screwy, banks that own REO’s tend to seem like they don’t know what they are doing, lenders are horrible to deal with,but you just keep plugging along and get it done
The opportunity is there, its like so many things, will you take advantage of it
I couldn’t agree more.
I remember when I was learning this biz there were no forums such as this one. I bought an old used Ron Legrand home study course off Ebay and guess what I did Tbodley? I WORE THAT THING OUT. Here we are 10 years later and I bet I could plug a disc in right now and tell you everything Ron Legrand is gonna say before he even says it. Then I went out and took massive action. No REIclub forum, no mentor, no formal training, no money…I just took action. A LOT of action. I’m not rich but I have probably 15-20 deals under my belt. I know I’m on my way.
So if you can’t even get past figuring out the ARV on a house (because you don’t like the answers people gave you) and you won’t even read books (God knows why) then how on earth do you think you’ll make it through the other inevitably heavy roadblocks this biz will ABSOLUTELY throw at you?
Do I remember you? And what posts are you talking about that I said those things you talk about Andy? I was recommended by that Ron Legrand book the other poster up there was telling me about a while back. Yes I did buy that used book and read it. I’m not scan reading either. I still read it. Right now I have been searching for junky houses around my area that may end up being a deal once I get all the info I need.