Property Value

Bird Dogs, Wholesaling
1

On the local tax assessor’s website, I can find information such as owner name, address, property number and property value of a vaccant property.

How accurate are the numbers on how much the property is worth?

2
How accurate are the numbers on how much the property is worth?

In most cases, The tax value is lower than actual (appraised) value. (thank goodness)

3

How much of an impact would the local tax assosor’s value of the property impact birddogging?

4

Here in Pittsburgh, Pa our County Assessment website is a real mess for determining values. Some properties are overassessed some underassessed. If I was to look at them for values I’d be in trouble. What I do is work with a RE Agent and get comps from MLS for properties that have sold in the last 3 months. He’ll also tell me what a realistic asking price would be and average time on market. For me the County Assessment will just help me figure carrying cost for taxes and the owners name.

5

In my neck of the woods, the assessed values are much higher than the ARVs. Your tax assessor should also have info on what sold recently. My assessor’s website allows me to search by sold date, price range, neighborhood, number of floors, number of bedrooms, etc. If you can do that kind of a search, look for the following:

  • what sold in the last 3 months (6 months if you can’t find anything in the last 3 months)
  • the same neighborhood as the subject property
  • the same number of bedrooms
  • the same number of floors

You can also use sites such as www.zillow.com, but don’t use the Zestimate. Look at what sold in the last 3 months and no more than 1/2 mile away. The number of bedrooms should be the same.

6

Thank you for responding everyone.

7

I would never base any numbers on the tax office numbers because there are too many variables that go into the number that are impossibly inconsistent.

Instead focus on current homes for sale, the most current sales, and then older comparables.